By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market news The short to medium term outlook for oil sands and heavy oil projects remains negative. As the barrel price for light sweet crude remains (relatively) low, new investments in oil sands projects are unlikely to be forthcoming. The combination of low prices and [...]
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Canada: Upgrader is going up later than usual this week because of the Canadian Federal Election and the American Presidential debate.
Hydrocarbons are the sine qua non of modern life.
Depictions of the oil industry often involve images of geysering derricks, boisterous Texans and ultra-wealthy Arab sheikhs.
Twoco Petroleums Ltd. (TSXV:TWO) announced that it plans to sell 70 percent of its working interests in its Alberta-based Sparky heavy oil property to an oil and gas investment fund located in Seoul, Korea for C$28 million as per an arm's length definitive agreement.
NuVista Energy Ltd. (TSX:NVA) announced that it plans to sell three of its natural gas and heavy oil properties for C$236 million in order to repay its debt.
EV Energy Partners, L.P. (NASDAQ:EVEP) and EnerVest, Ltd. reported that second well in the Utica Shale produced 1,690 barrels of oil equivalent per day.
Santa Maria Petroleum Inc. (TSXV:SMQ) has started test production of the Flami-1 well at the Llanos 27 block.
Bloomberg reported that Western Canada Select's discount to West Texas Intermediate edged up $3.50 to $11 a barrel.
New York Times reported that according to the Energy Department, U.S. has planned to raise oil import from Saudi by 20 percent in 2012 and has already imported 1.45 million barrels of oil from Saudi Arabia in the first five months of 2012.
Bloomberg reported that Sunshine Oilsands Ltd. (HKG:2012) plans joint venture to explore its oil sands reserves with China Petrochemical Corp.(NYSE:SNP)
Bloomberg reported that Connacher Oil and Gas Ltd's (OTC Pink:CLLZF) shares plunged 9.3 percent after it has decided to sell a Montana refinery.