Western Canada Select’s Discount to WTI up $3.50
Bloomberg reported that Western Canada Select's discount to West Texas Intermediate edged up $3.50 to $11 a barrel.
Heavy Oil Market News Directory
U.S. Plans to Raise Oil Import From Saudi by 20% in 2012
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.
Sunshine Oilsands Plans JV with China Petrochemical
Bloomberg reported that Sunshine Oilsands Ltd. (HKG:2012) plans joint venture to explore its oil sands reserves with China Petrochemical Corp.(NYSE:SNP)
Connacher Oil and Gas Ltd’s Share Plunges 9.3 Percent
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.
Husky Energy Introduces Steam Drilling at Alberta Thermal Heavy Oil Projects
Calgary Herald reported that Husky Energy (TSE:HSE) has introduces steam and horizontal drilling as production methods for two new Alberta thermal heavy oil projects.
Canadian Natural Resources: 2012 Q2 Profits Drops 19%
Fox Business reported that Canadian Natural Resources' (TSE:CNQ) 2012 second quarter profits dropped 19% owing to lower oil and natural gas prices.
Pacific Rubiales Plans to Raise Rubiales Field Output by 10.5%
Reuters reported Pacific Rubiales Energy Corp (TSE:PRE) plans to raise output by 10.5% to 210,000 barrels of oil in 2013 from its Rubiales field.
Sinopec Group’s Overseas Equity Oil and Gas Output Surges 24.02 Percent
Fox Business reported that Sinopec Group's overseas equity oil and gas output surged 24.02 percent.
US Gulf Coast Crude Weakens
Bloomberg reported that US Gulf Coast crude weakened after the discount for WTI versus Brent oil dropped.
Saudi Arabian Oil to Cut September Light Crude Oil Premium for Asian Customers
Bloomberg reported that Saudi Arabian Oil Co. has decided to cut the premium for September light crude oil to customers in Asia while raising it for American customers.
