(Reuters) - Global oil supplies are plentiful enough to withstand a “significant reduction” in petroleum exports from Iran, according to a White House memo issued on Monday as the Trump administration prepares to reimpose sanctions on the OPEC member nation. The memo, sent by the White House to the U.S. State Department, paves the way for U.S. efforts to curb Iranian oil exports after Washington’s decision to pull out of the 2015 deal between Iran and six world powers curbing Tehran’s nuclear [Read more]
Headlines
Saturn Oil & Gas Inc. Announces $3,500,000 Brokered Private Placement Led by Canaccord Genuity Corp.
SASKATOON, Saskatchewan, May 14, 2018 (GLOBE NEWSWIRE) -- Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX-V:SMI) (FSE:SMK) is pleased to announce that it has engaged Canaccord Genuity Corp. ("Canaccord") to act as the lead on a commercially reasonable efforts basis, brokered private placement of a minimum 29,166,667 common share units (the "Units") at a price of $0.12 per Unit, for a minimum gross proceeds of approximately $3,500,000 and up to a maximum gross proceeds of [Read more]
With glut almost gone, OPEC still cuts more than oil pact demands
LONDON (Reuters) - A global oil glut has been virtually eliminated, figures published by OPEC showed on Monday, thanks to an OPEC-led pact to cut supplies that has been in place since January 2017 and due to rising global demand. Despite this, OPEC’s latest report also said producers were cutting more than required under the deal, while producers not party to the agreement, such as U.S. shale companies, were starting to face constraints on future output. Saudi Arabia, the world’s biggest [Read more]
Massive Savings on Sour Gas Processing Facility with Inclusive Energy
Inclusive Energy Ltd. is offering this turnkey Sour Gas Processing Facility deigned to the capacity of 896 103m3 (31.7 MMCFD) of sour gas with a maximum H2S content of 400 PPMV and a CO2 content of approximately 1.4%. Major equipment includes: Inlet Separator Package 84”ID x 20’ s/s design 285 PSIG@100 Deg. F, Inlet Filter Package 26” ID x 9’ s/s design 285 PSIG@100 Deg. F, Amine Package 36”ID x 52’ s/s Vertical Amine Contactor design 1610 PSIG @ -20/180 Deg. F c/w (20) 316L SS Valve Trays, [Read more]
Tidewater Midstream and Infrastructure Ltd. Announces First Quarter 2018 Results and Operational Update
CALGARY, May 14, 2018 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management's Discussion and Analysis ("MD&A") for the three-month period ended March 31, 2018. Highlights Financial Earnings Highlights Tidewater delivered another strong quarter of growth reporting Adjusted EBITDA of $20.0 million or $0.06 per share for the [Read more]
Questerre reports first quarter 2018 results
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONSCALGARY, Alberta, May 11, 2018 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX:QEC) (OSE:QEC) reported today on its financial and operating results for the first quarter ended March 31, 2018. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Our production and cash flow growth [Read more]
Easing pipeline congestion lets Western Canada producers enjoy higher oil prices
CALGARY - Canadian oil producers are pocketing higher profits as a rise in world oil prices meshes with an improving supply-demand balance that has reduced the price discounts they faced earlier this year. Analysts say temporary shutdowns at Alberta oilsands projects for scheduled maintenance this spring have eased the pipeline congestion that had been exacerbating the difference between bitumen-blend Western Canadian Select and New York-traded West Texas Intermediate crude prices. That [Read more]
Craig: Taxpayers need a voice in upcoming court battles
You could save thousands of dollars in taxes if the Canadian Taxpayers Federation is allowed to intervene in (and helps win) an upcoming court case against the new federal carbon tax. And if we’re successful in a second, unrelated court case about pipelines, Canada’s economy could benefit from thousands of new private sector jobs. Not to mention the billions in tax revenue that governments would receive if the Trans Mountain pipeline project goes ahead – money that could be used to help pay [Read more]
Canada Weekly Rig Count Down 7 to 79
Western Canada’s fleet of drilling rigs went down 7 to 79 according to data collected by Baker Hughes for the week of May 11th. From one week ago, Alberta rig counts decreased from 68 to 62 Saskatchewan's rig count increased from 3 to 4. Oil drilling went from 37 to 32; gas rigs went from 49 to 47. View a full breakdown of western Canada’s rig activity. [Read more]
Stubbs: Liberals Failing to Take Action on Trans Mountain Expansion
With only nine legislative days left before Kinder Morgan’s May 31st deadline, the Liberal government has run out of time to pass legislation to remove roadblocks and delays for the approved expansion of the Trans Mountain pipeline. A month ago, the Prime Minister explicitly promised to introduce legislation to ensure that this important project would be able to proceed. Now, after failing to take action for a year and a half, he is claiming that the only option may be to force taxpayers to [Read more]