The great disruptor that is U.S. shale oil is coming to Asia, as refiners in the energy-hungry region look to expand and diversify their sources of crude, and the consequences will likely go well beyond a shift in oil trade flows. It should come as no surprise that rising oil output in the United States would find its way to the region that is the world's fastest-growing consumer of the fuel, but perhaps the rapid pace of the shift has caught some in the market off-guard. Crude oil exports [Read more]
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Minnesota public hearings begin for Enbridge’s $6.5 bln oil pipe expansion
Regulatory hearings for Enbridge Inc's C$8.2 billion ($6.5 billion) Line 3 crude oil pipeline upgrade will begin on Tuesday in the U.S. state of Minnesota, which presents the last hurdle for the biggest project by North America's top pipeline operator. Until mid-November, the Minnesota Public Utilities Commission will hear from groups including landowners, aboriginals and environmentalists, many of whom fiercely oppose the project, while the energy industry supports it. The commission is [Read more]
Storm Resources Ltd. Announces Graduation to Toronto Stock Exchange
CALGARY, ALBERTA--(Marketwired - Sept. 25, 2017) - Storm Resources Ltd. ("Storm" or the "Company") (TSX VENTURE:SRX) is pleased to announce that it has received final approval to list the Company's common shares (the "Common Shares") on the Toronto Stock Exchange (the "TSX"). Effective at market open on September 27, 2017, the Common Shares will commence trading on the TSX under the existing symbol "SRX" and will concurrently be delisted from the TSX Venture Exchange. The TSX is the [Read more]
Pengrowth Comments on Trading Activity
CALGARY, ALBERTA--(Marketwired - Sept. 25, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) is issuing this press release in response to a request by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on the recent significant increase in our share price and higher trading volumes. Pengrowth confirms that it is not aware of any material undisclosed information related to the Company or our operations that would account for this trading activity. About [Read more]
6th Annual CGEF Conference – New Global Challenges, Canadian Solutions
New Global Challenges - Canadian Solutions This year's conference examines what it takes to be successful in international conventional and unconventional projects, the growing role of clean technology in E&P and the impact of financial markets and legal trends in international E&P. When September 27 & 28, 2017 - Calgary, AB Where TELUS Convention Centre - Glen Rooms - South Building Click here for more information and to register! [Read more]
Interest in N.S. liquefied natural gas projects ramps up as producers look east
HALIFAX - Two liquefied natural gas megaprojects slated for Canada’s East Coast are steaming ahead, even as investors pull the plug on plans for the West Coast. Bear Head LNG Corp., a subsidiary of Australia-based Liquefied Natural Gas Ltd., and Goldboro LNG, a Pieridae Energy Canada project, could be the best bet for the country's first LNG export facility. Despite a glut of gas around the world, rock-bottom prices and the cancellation of facilities proposed for British [Read more]
Hedge fund positions in oil look stretched
LONDON, Sept 25 (Reuters) - Hedge funds have become strongly bullish on the outlook for all parts of the petroleum complex, amid signs global crude stocks are declining and fuels will be short supply after hurricane-related refinery outages. But with so many fund managers already betting heavily on a further rise prices, the market has become lopsided and the risk of a sharp reversal has increased significantly. Hedge funds and other money managers raised their combined net long position in [Read more]
Seven Generations proposes offering of US$700 million senior unsecured notes due 2025
CALGARY, ALBERTA--(Marketwired - Sept. 25, 2017) - Seven Generations Energy Ltd. (TSX:VII) is proposing to offer, on a private placement basis, US$700 million aggregate principal amount of senior unsecured notes due 2025 (the "Notes"). Certain terms of the Notes, including the interest rate payable, will depend on market conditions at the time of pricing. Seven Generations intends to use the net proceeds of the offering, together with its cash balances, to repurchase all of its outstanding [Read more]
Total in no hurry to sell oil sands assets – CEO
Total CEO Patrick Pouyanne said on Monday that the company was not in a hurry to "diversify" (sell) high break-even assets such as oil sands. Pouyanne told analysts during a call that the company would wait until oil prices rise before selling the assets. "We will see what we will do with this project in the coming years but... my priority is value over volumes and oil sands are among the high breakeven projects in the portfolio," Pouyanne said. "I don't want to lose value, so my view [Read more]
Provincial government schemes may be annoying, but it’s the international madness that might bring down the house
Picking on governments is an easy sport. It’s not hard to find dumb policies or some initiative that goes against an ideological viewpoint and infuriates exactly 40 percent of any given population. Instead of getting bogged down in provincial matters (both literally and legislatively provincial), I encourage you to expand your ire to the bigger picture where truly serious damage is happening. Current global policies are impacting not only energy but the whole economic framework. I’m not [Read more]