The chief executive ofCanada's Suncor Energy Inc said on Wednesday he expectedPrime Minister Justin Trudeau to move in the "next few weeks" toensure that Kinder Morgan Canada's Trans Mountain oilpipeline expansion goes ahead.Steve Williams would not say what exactly he expectedTrudeau to do to guarantee the C$7.4 billion ($5.8 billion)project gets built, but told reporters he was encouraged by along conversation he had with the prime minister last month."I'm [Read more]
Canada’s Crescent Point set to win support for director nominees -sources
Canadian energy producer CrescentPoint Energy Corp is poised to win support for itsdirector nominees based on preliminary counting of votes,shrugging off opposition from activist investor Cation Capital,sources familiar with the matter told Reuters on Wednesday.Final results are expected to be announced on or beforeFriday.The proxy fight for Crescent Point is the biggest for theCanadian energy sector in at least about four years and theoutcome is closely watched by energy investors, who are [Read more]
Oil eases as Iran ramps up exports and U.S. storage tanks fill up
LONDON (Reuters) - WTI is slightly up and Brent the opposite so far on Wednesday. Brent is surrendering early gains after evidence of further increases in U.S. shale supply and a rise in Iranian exports ahead of a possible renewal of U.S. sanctions on Tehran. U.S. West Texas Intermediate crude futures were up 18 cents at $67.43, off a session high of $67.85. July Brent futures were down 16 cents at $72.97 a barrel by 1100 GMT, after falling nearly 3 percent on Tuesday to their lowest in two [Read more]
Canadian energy minister says Petronas is taking stake in LNG Canada – Business in Vancouver
-- Source link: -- Note: Reuters has not verified this story and does notvouch for its accuracy [Read more]
U.S. FERC allows ETP Rover natgas pipe to move fuel to Michigan
The U.S. Federal Energy RegulatoryCommission (FERC) on Tuesday authorized Energy Transfer PartnersLP to start service through several parts of the Rovernatural gas pipeline between Ohio and Michigan:* The $4.2 billion Rover project is designed to carry up to3.25 billion cubic feet per day (bcfd) of gas from the Marcellusand Utica shale fields in Pennsylvania, Ohio and West Virginiato the U.S. Midwest and Gulf Coast and Ontario in Canada.* The latest order allowed Rover to start service on [Read more]
Boom time comes early to West Texas oil patch
MIDLAND, Texas (Reuters) - In West Texas, rising oil prices are fueling a sharp economic upswing, lifting employment and pay to records, driving up spending at hotels, restaurants, and car dealerships, and raising the cost of housing and other essentials. This parched patch of land, under which lie the largest oil-producing rock formations in the United States, is used to growth binges as well as the busts that always follow. After a two-year crash, the price of crude began to recover in [Read more]
U.S. crude output jumps to record 10.26 million barrels per day in February: EIA
NEW YORK (Reuters) - U.S. crude oil production jumped 260,000 barrels per day (bpd) to 10.26 million bpd in February, the highest on record, the Energy Information Administration said in a monthly report on Monday. Production in Texas rose by 106,000 bpd to above 4 million bpd, also a record high based on the data going back to 2005. The Permian basin, which stretches across West Texas and eastern New Mexico, is the largest U.S. oilfield. Output from North Dakota declined marginally to [Read more]
Oil prices climb after Netanyahu announcement; stocks fall
NEW YORK (Reuters) - Oil prices rose on Monday after Israel Prime Minister Benjamin Netanyahu said Iran had lied about pursuing nuclear weapons after signing a 2015 deal with global powers, while U.S. stocks fell with declines in healthcare shares. U.S. West Texas Intermediate futureswere up 47 cents on the day to settle at $68.57. Netanyahu said Iran had continued to preserve and expand its nuclear weapons knowledge after the deal. U.S. President Donald Trump has until May 12 to decide [Read more]
U.S. oil rig count rises five this week, 28 this month
The U.S. oil drilling rig count rose for the fourth week in a row and ended the month sharply higher as producers plan to boost output as they reap profits from crude trading near three-year highs. Drillers added five oil rigs in the week to April 27, bringing the total count to 825, the highest level since March 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. For the month, drillers added 28 oil rigs in April after cutting two [Read more]
BC LNG plant selects contractor, edges closer to reality
A proposed $40 billion liquefied natural gas export terminal on British Columbia’s coast edged closer to reality on Friday, as the company behind the project said it had chosen a contractor to lead project construction once financing is in place. A JGC Corp and Fluor Corp joint venture has been selected to do the final engineering, procurement and construction for the LNG Canada terminal, with a final investment decision on the build still expected later this year, LNG Canada said. LNG [Read more]