Canada's Vermilion Energy will drill its first two exploration wells in Croatia in June, a senior official from the company said on Monday. Vermilion won four licences in 2015 for oil and gas exploration in Croatia's flat northeastern areas and the drilling will take place on one of these. "Although we see evidence of gas charge from the new seismic data we have acquired, we'll not know for sure whether any of this is commercially producible until after these initial wells are completed," … [Read more...]
Heavy and synthetic grades steady
The Canadian heavy crude oil differential compared with U.S. oil futures was unmoved on Friday from the previous day's settle:* Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, last traded at $9.25 a barrel below WTI crude futures , holding steady from the previous day, according to Net Energy Exchange.* Market activity is slowing as the monthly Canadian crude trading window, which runs from the first of each month until the day before pipeline … [Read more...]
TransCanada to cut spot rates for crude shipments to U.S. Midwest, Gulf Coast
TransCanada Corp's Keystone Pipeline filed with U.S. regulators this week to lower spot rates to ship crude from Canada to Illinois, Oklahoma and Texas: * TransCanada proposed to lower discounted rates for light crude volumes from or near Manitoba, Canada to Wood River, Illinois to $19.67 per cubic meter from $24.39, according a filing with the U.S. Federal Energy Regulatory Commission (FERC) this week; for heavy crude, it asked to cut rates to $21.70 from $25.79. * The company proposed … [Read more...]
U.S. drillers add oil rigs for second week in a row
U.S. energy firms this week increased the number of oil rigs operating for a second week in a row with crude futures up more than 40 percent so far this year.Companies added two oil rigs in the week to April 12, bringing the total count to 833, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is higher than a year ago when 815 rigs were active.The rig count fell for the past … [Read more...]
U.S. super-light oil output rise roils Texas, Oklahoma markets
Growing production of Texas super-light oil - and worries about its quality compared with other types of crude - is slowing down deliveries into the main U.S. storage hub in Oklahoma, draining supply there and adding to a glut in Texas.In the last several months, drillers are producing more oil known as West Texas Light (WTL), a type of crude that differs from what is blended at the Cushing, Oklahoma hub to produce the benchmark U.S. oil grade.Cushing, which currently has 46 million barrels in … [Read more...]
Trump to fight states delaying energy projects
President Donald Trump will issue two executive orders in the heart of the Texas energy hub on Wednesday seeking to speed gas, coal and oil projects delayed by coastal states as he looks to build support ahead of next year's election.Trump's orders will direct his Environmental Protection Agency to change a part of the U.S. clean water law that has allowed states, on the basis of environmental reasons, to delay projects such as pipelines to carry natural gas to New England and coal … [Read more...]
Trump to seek to stop states from delaying energy projects
President Donald Trump will issue two executive orders in the heart of the Texas energy hub on Wednesday seeking to speed gas, coal and oil projects delayed by coastal states as he looks to build support ahead of next year's election.Trump's orders will direct his Environmental Protection Agency to change a part of the U.S. clean water law that has allowed states, on the basis of environmental reasons, to delay projects such as pipelines to carry natural gas to New England and coal … [Read more...]
Political parties stoke separatist sentiment ahead of Alberta vote
Talk of Alberta separating from the rest of Canada is gaining ground ahead of April 16 elections, as a number of political parties in the country's energy heartland seek to capitalise on voter anger with federal policies. The idea that Alberta could separate has been a fringe idea in the province for years but last month the Alberta Independence Party, which was revived in 2018 after a 17-year hiatus, was awarded official status after registering 63 candidates to fight in the … [Read more...]
Political party policies in Alberta provincial election
Canada's largest oil-producing province, Alberta, will hold an election on April 16. Latest opinion polls show the United Conservative Party led by Jason Kenney is expected to oust Rachel Notley's New Democratic Party from government. Below are some of the main policies of the two parties, as laid out in their platforms: POLICY NEW DEMOCRATIC PARTY UNITED CONSERVATIVE PARTY PIPELINES - Continue … [Read more...]
Heavy crude holds steady in narrow range
The Canadian heavy oil differential tightened slightly on Monday compared with benchmark U.S. oil futures: Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, last traded at $8.20 a barrel below WTI crude futures , narrowing marginally from Friday's settle, according to Net Energy Exchange. WCS prices have held strong at a relatively narrow discount throughout this month's trade cycle so far, supported by demand for Canadian heavy crude barrels in U.S. … [Read more...]
