* Crude oil imports from the United States to Britain in January overtook supplies from other countries for the first time since such shipments began in 2015, data from energy analysts at Kpler showed.* The United States lifted an oil export ban in 2015.* British imports of U.S. oil reached 264,000 barrels per day (bpd) last month, compared with Norway's 181,000 bpd in second place and total imports of 738,000 bpd.* Other top exporters to Britain include Algeria, Russia, Nigeria and [Read more]
Headlines
Oil slips on API report of U.S. inventory rise
Oil edged lower on Wednesday after a report showed a rise in U.S. crude inventories, countering expectations of a tightening market in 2019 due to OPEC-led supply cuts and U.S. sanctions on Venezuela. U.S. crude inventories rose by 2.5 million barrels last week and gasoline stocks also increased, the American Petroleum Institute said. The government’s official supply report is due out later on Wednesday. “The fact that U.S. crude oil and gasoline stocks rose more sharply than expected, as [Read more]
Hemisphere Energy Provides Operations Update with Record Production of Approximately 1600 boe/d
VANCOUVER, Feb. 6, 2019 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to provide an update on its Southern Alberta operations following the 11 well drilling program that was completed in the fall of 2018. Based on field estimates, corporate production during the period of January 28 to February 4, 2019 averaged approximately 1600 boe/d (96% oil). Oil production rates are continuing to improve after bringing certain wells back on production that [Read more]
Canada in the race to build LNG export terminals and capture growing demand from Asian countries
Since 2011, 24 LNG projects have been issued long-term export licences in Canada. Canada only has one operational LNG terminal – Canaport LNG’s regasification import terminal located in Saint John, New Brunswick. Proposals for developing 18 LNG export facilities currently exist. They include five in eastern Canada – two in Quebec, three in Nova Scotia – and 13 others on its west coast, all in British Columbia. The largest of the proposed LNG export terminals is LNG Canada’s export terminal, [Read more]
XI Technologies: How to solve the problem of incomplete STICK diagram information
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like Wednesday Word to the Wise delivered directly to your inbox, subscribe here. In 2018, the Alberta Energy Regulator (AER) published a list of the “Five Most Common Noncompliances in Ten Inspection Categories”. The #1 issue for the Drilling Category was: “STICK Diagram does not contain all the required [Read more]
Eagle Energy Inc. Announces Change in Board of Directors
CALGARY, Feb. 5, 2019 /CNW/ - (TSX: EGL): Eagle Energy Inc. ("Eagle") reports that, due to changes in his professional priorities and the reduced availability which those changes entail, Mr. Wes Schrader has announced his decision to retire as a director of Eagle effective immediately. Eagle thanks Mr. Schrader for his service to the company and wishes him continued success in his new activities. Mr. John Melton, who is an independent director of Eagle's operating subsidiary in the United [Read more]
Suncor Energy reports fourth quarter 2018 results
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, except for Libya, which is on an entitlement basis. Certain financial measures referred to in [Read more]
Higgs says no progress on carbon tax and other issues after meeting with Trudeau
OTTAWA - New Brunswick Premier Blaine Higgs says his latest meeting with the prime minister produced little or no progress on major issues facing his province. Higgs met with Justin Trudeau on Tuesday in Ottawa, but the premier said there was no movement on the contentious issue of the federal government's carbon tax. New Brunswick is an intervener in legal challenges launched by Saskatchewan and Ontario and has launched its own legal challenge of the carbon tax. Higgs [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. 5 Summer Student, EEEP AltaGas Edmonton Feb. 5 Summer Student, JEEP AltaGas Lacombe Feb. 5 Summer Student Relief Operator AltaGas Fort St. [Read more]
Suncor Energy declares increased dividend and announces additional stock buyback program
CALGARY, Alberta, Feb. 05, 2019 (GLOBE NEWSWIRE) -- Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.42 per share on its common shares, payable March 25, 2019 to shareholders of record at the close of business on March 4, 2019. This dividend represents a 17% increase over the prior quarter and marks 17 years of consecutive annualized dividend increases. The dividend increase is supported by sustainable, structural improvements to free funds flow through operating [Read more]