Oil prices were on track to jump more than 7% this week, their biggest weekly gain in months, on rising Middle East tensions after a key Saudi Arabian supply hub was knocked out in an attack last weekend. A Saudi-led coalition launched a military operation north of Yemen’s port city of Hodeidah, as the United States worked with Middle East and European nations to build a coalition to deter Iranian threats after the Saudi attack. U.S. West Texas Intermediate (WTI) crude futures rose 59 [Read more]
Headlines
PSAC Meets with Business Leaders in Ontario for a Critical Discussion on the Future of Energy in Canada and Across Ontario
The Petroleum Services Association of Canada (PSAC) met with business leaders gathered and hosted by the Vaughan Chamber of Commerce for a roundtable discussion. The conversation focused on the benefits to all Canadians of supporting the energy industry. “The understanding amongst the Chamber’s business leaders today about the significance of the Canadian supply chain for oil and natural gas that employs over 450,000 people from coast to coast to coast was evident,” said Gary Mar, President [Read more]
Saudi Aramco confident full output from Khurais to resume by end of Sept
Saudi Aramco is confident full production will resume by the end of September from Khurais, one of two oil sites attacked about a week ago, a company executive said on Friday. Aramco was shipping equipment from the United States and Europe to rebuild the damaged facilities, Fahad Abdulkarim, Aramco's general manager for the southern area oil operation, told reporters on a tour organised by the state company. Reuters reporters were shown repair work under way, with cranes erected around two [Read more]
8th Annual Free Hockey Draft For The Oil And Gas Industry
Free hockey draft put on by OSY Rentals, Rival Hydrovac, and BOE Report. Deadline to enter is Wednesday, October 2nd. Takes less than 2 minutes to complete No need of hockey knowledge (pick one player from a box grouped with players of the same level) Weekly prizes for the winner and loser Random weekly prizes Grand Prize of 2 tickets, flights and hotels to any NHL playoff game Any questions please contact Greg Cairns at greg@osyrentals.com More information on [Read more]
U.S. natgas futures fall over 3% on bigger-than-expected storage build
U.S. natural gas futures fell more than 3% from a near five-month high on Thursday following the release of a report showing a bigger-than-expected storage build. The U.S. Energy Information Administration (EIA) said utilities added 84 billion cubic feet (bcf) of gas to storage during the week ended Sept. 13. That was higher than the 78-bcf build analysts forecast in a Reuters poll and compares with an injection of 84 bcf during the same week last year and a five-year (2014-18) average [Read more]
Column: Climate crisis solved! A quick, socialist-friendly path to environmental nirvana. Who could complain?
As we enter 1984, metaphorically speaking, I realized I’ve had enough of the climate madness. Not just the mass delusion (the equivalent of Y2K times the dot-com boom times Beatlemania), but the whole topic, a twisted mess of ideology, speculative science, and fear. "The science is settled" vs. "no one will give up lifestyle". Science/lifestyle, back and forth for eternity. Elon Musk’s marketing/engineering genius is now a symbol for those who want to destroy the fossil fuel industry, despite [Read more]
Real crunch from Saudi Arabia’s oil outage has yet to be felt
Saudi Arabia's ability to avert a global oil supply crunch will only become clear in a few weeks, because for now its crude held in storage can fill the gap and mask the scale of damage to its facilities, traders and analysts say. Riyadh says production will be back to normal levels in two to three weeks, which means restoring output to about 10 million barrels per day (bpd), after Saturday's attacks on two sites that usually process and clean up about 5.7 million bpd. While it carries out [Read more]
Send pipeline fights to top court: Scheer
A Conservative government would overcome legal objections to building new petroleum pipelines by fast-tracking any cases right to the Supreme Court, party leader Andrew Scheer says. Scheer and other Conservatives have for years said Ottawa has to "assert federal jurisdiction" to get important projects built, but he has not until now explained what that would mean in practice. At a campaign stop Wednesday, Scheer was pushed on comments he made in recent days about asserting jurisdiction in [Read more]
Prairie Provident Announces Significant Incremental Reserves Booking Attributable to Evi Waterflood
CALGARY, Alberta, Sept. 18, 2019 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the results of an updated independent reserves evaluation of the Company's interests in respect to specific reserve entities within three future undeveloped waterflood expansion areas in Evi (“Evi Waterflood Areas”). The evaluation was conducted by Sproule Associates Limited (“Sproule”), independent qualified reserves evaluators, with an [Read more]
Alberta sees progress on talks to ease oil curtailments
Premier Jason Kenney said on Wednesday he is hopeful of more progress this month on talks between his government and producers about easing oil curtailments, as long as extra output is shipped by rail. Alberta introduced mandatory production curtailments, effective Jan. 1 2019, to ease congestion on export pipelines and support crude prices. Last month Premier Jason Kenney's government extended those curtailments into 2020 because of slow progress in building new pipelines. Major producers [Read more]