HOUSTON (Reuters) - A member of Chevron Corp’s board of directors sent a tweet on Wednesday that questions the future of the oil industry given the rise of renewable energy technologies. “If #oil energy consumption is declining and #renewableenergy consumption is on the #rise, what does that mean for the future of the oil industry?” Dambisa Moyo, an economist and author who joined the oil company’s board in 2016, wrote on Twitter. The tweet was accompanied by two graphics produced by the [Read more]
Headlines
Alberta’s top court upholds injunction against drug testing of Suncor workers
EDMONTON - The Alberta Court of Appeal has upheld an injunction that stops random drug and alcohol testing at Suncor Energy sites in the northeastern part of province. In a two-to-one decision, the court dismissed the appeal by Calgary-based Suncor, which has been arguing for years that random tests are needed to bolster safety at its projects near Fort McMurray. A Court of Queen's Bench judge granted the injunction last December, pending an arbitration hearing, after the union [Read more]
Enbridge Announces Offer by Spectra Energy Capital, LLC to Purchase Debt Securities
CALGARY, Feb. 28, 2018 /CNW/ - Enbridge Inc. (TSX:ENB)(NYSE:ENB) (Enbridge or the Company), announced today the commencement of an any and all cash tender offer by its wholly-owned subsidiary, Spectra Energy Capital, LLC (Spectra Capital), for certain debt securities of Spectra Capital (the Tender Offer). The Tender Offer consists of offers to purchase for cash the 6.75% senior unsecured notes due 2032 and the 7.50% senior unsecured notes due 2038 issued by Spectra Capital (collectively the [Read more]
Phoenix Energy Marketing Looking to Buy Available NGTL Empress Firm Gas Transportation
Phoenix Energy Marketing Consultants, on behalf of a producer client, seeks successful bidders in the recent NGTL NIT-Empress Open Season transportation offering and/or existing shippers, for discussion of potential purchase of surplus firm delivery service. The recent NGTL offering involved four tranches of service with start dates ranging from October, 2018 on the first tranche and November, 2020 to April, 2021 on the last three tranches. Will also consider firm export service at other [Read more]
South Korea’s Hyundai Oilbank buys first Canadian crude
South Korean refiner Hyundai Oilbank Corp has bought its first cargo of Canadian Cold Lake crude oil that will arrive in late April to early May, three sources with knowledge of the matter said on Wednesday. Hyundai, South Korea's smallest refiner by capacity, bought 300,000 barrels of the crude from Chevron Corp , they said. The purchase is part of South Korean refiners' efforts to diversify their crude imports and tap on cheaper oil from Canada. Chevron's oil tanker is expected to [Read more]
Petro One Energy Corp.: Property Offering
Western Divestments has been retained by Petro One Energy Corp. (a wholly owned subsidiary of Goldstrike Resources Ltd.) to market the company’s oil and gas asset in the Milton area of Southwest Saskatchewan (Map 1). The Milton Asset consists of PNG Rights, wells and associated surface facilities. Low risk, Viking light oil (30 API), development potential on major resource play fairway Proven production from Viking Formation with offsetting additional prospective horizons Property is [Read more]
Hedge funds continue to exit oil but OPEC stems rout
LONDON, Feb 27 (Reuters) - Hedge funds continued to take profits on their bullish positions in crude and especially refined fuels in the most recently reported week but supportive comments from OPEC helped steady oil prices. Hedge funds and other money managers cut their combined net long position in the six most important futures and options contracts linked to petroleum by the equivalent of 48 million barrels in the week to Feb. 20. The hedge funds’ net long position has been cut in each [Read more]
OPEC to meet with U.S. shale firms in Houston on Monday
LONDON/HOUSTON, Feb 27 (Reuters) - OPEC will hold a dinner on Monday in Houston with U.S. shale firms, two industry sources said, the latest sign of the producer group widening talks about how best to tame a global oil glut. OPEC Secretary General Mohammad Barkindo plus other OPEC officials will attend the dinner, one of the sources said. A second source said the chief executives of U.S. shale companies of various sizes have been invited. The meeting will be on the first day of the [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Feb. 26 Quality Control Inspector Strike Group Various Feb. 26 Chemical Specialist Calfrac Well Services Calgary Feb. 24 Shop Professional STEP Energy [Read more]
ExxonMobil Canada selling its 19% stake in the Terra Nova offshore oil project
CALGARY - Exxon Mobil Corp. says its Canadian arm has put up for sale its 19 per cent interest in the Terra Nova offshore oil project 350 kilometres southeast of Newfoundland and Labrador. Spokeswoman Suann Guthrie confirms that the company is marketing its stake after a review of its portfolio to ensure it meets its strategic objectives. She says the decision has no impact on Exxon's other assets in Canada and adds the company will remain a long-term investor in the province. [Read more]