[table] [attr style="width: 24%"]Product`[attr style="width: 24%"]December 28`[attr style="width: 24%"]December 21`[attr style="width: 14%"]Change`[attr style="width: 14%"]% Change Crude Oil`359,939`371,059`-11,120`-3.0% Gasoline`225,673`223,104`+2,569`+1.2% Distillate`123,967`119,393`+4,574`+3.8% Propane`66,670`68,850`-2,180`-3.2% Jet Fuel`39,187`38,622`+565`+1.5% Unfinished Oils`81,592`82,321`-729`-0.9% Residual Fuel Oil`36,423`36,832`-409`-1.1% [attr [Read more]
Headlines
ExxonMobil Announces $14 Billion Hebron Oil Project to Proceed off Canada’s East Coast
Exxon Mobil Corporation announced today it will develop the Hebron oil field offshore the Canadian province of Newfoundland and Labrador using a gravity-based structure that will recover more than 700 million barrels of oil, an increase versus earlier estimates. Capital cost for the project, which is expected to begin oil production around the end of 2017, is estimated at $14 billion. The platform is being designed for daily production of 150,000 barrels of oil. “Hebron is one of several [Read more]
Oil price eases slightly despite positive economic data
The price of oil fell slightly Friday as investors weighed the possibility that the Federal Reserve might end its extraordinary economic stimulus measures later this year. Benchmark West Texas Intermediate crude for February delivery fell six cents to US$92.86 a barrel on the New York Mercantile Exchange. The Labour Department reported U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during the tense negotiations to resolve the fiscal cliff. [Read more]
Weekly Natural Gas Storage to December 28
December 21: 3,652 Bcf December 28: 3,517 Bcf Change: -135 Bcf [table] [attr style="width: 25%"]`[attr style="width: 25%"]December 28`[attr style="width: 25%"]December 21`[attr style="width: 25%"]Change East`1,799`1,883`-84 West`505`520`-15 Producing`1,213`1,249`-36 Total`3,517`3,652`-135 [/table] Source: EIA [Read more]
Enbridge to spend $400M on expanding capacity of Alberta to US pipeline
Enbridge Inc. plans to spend $400 million to expand the capacity of its pipeline system between Hardisty, Alta., and the U.S. border. Enbridge says the project involves increasing pumping horsepower and that no new line pipe construction is involved. It expects to increase capacity by 230,000 barrels a day when the upgrade comes on line in 2015, subject to regulatory approvals. The Canadian mainline is held by Enbridge Pipelines Inc. (EPI), a wholly owned subsidiary of [Read more]
Oil price climbs after Congress avoids falling off the ‘fiscal cliff’ and stock markets soar
The price of oil jumped Wednesday as traders cheered a deal in Washington to avert the ``fiscal cliff,'' a series of tax increases and spending cuts that could have pushed the world's biggest economy into recession. The House of Representatives voted near midnight Tuesday night to send a bill averting the cliff to President Barack Obama after a frantic day of political brinkmanship on Capitol Hill. In morning trading, benchmark West Texas Intermediate crude for February delivery [Read more]
Bonavista Announces Increase to Exchangeable Share Ratio
Bonavista Energy Corporation is pleased to announce the increase to the Exchange Ratio of its exchangeable shares from 1.13313 to 1.14261. This increase will be effective on January 15, 2013 (the "Effective Date"). The following are the details of the calculation of the Exchange Ratio: Record Date of Bonavista Dividend Opening Exchange Ratio Bonavista Dividend per common share Five day Weighted Average Trading Price of Bonavista [Read more]
Changed Number of Outstanding Shares in BlackPearl
BlackPearl Resources Inc. - As a result of the exercise of options and warrants, the total number of shares and votes in the Company has changed during December 2012 as follows. The number of shares has increased by 2,526,465 and the total number of shares and votes in the Company as of December 31, 2012 is 295,765,808. [Read more]
Oil higher as Washington inches closer to deal in hours before ‘fiscal cliff’
By The Associated Press NEW YORK, N.Y. - Oil prices rose Monday as U.S. political leaders moved toward averting the "fiscal cliff" just hours before the deadline. President Barack Obama said Monday afternoon that a deal to avert the cliff — a series of automatic tax increases and spending cuts set to take effect starting Tuesday — was in sight but not yet finalized. Republicans and Democrats were still at an impasse over whether to put off across-the-board spending cuts and, [Read more]
Rig Count for December 28
[table] [attr style="width: 20%"]`[attr style="width: 30%"]`[attr style="width: 25%"]Oil`[attr style="width: 25%"]Gas [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`104`100 Last Week`261`123 Last Year`98`123 Week over Week Change`-157`-23 Year over Year Change`+6`-23[/table] [table] [attr style="width: 20%"]`[attr style="width: 30%"]`[attr style="width: 25%"]Oil`[attr style="width: 25%"]Gas [attr rowspan="5" [Read more]