By Duncan Sutherland – Exclusive to Heavy Oil Investing News Brass tacks In markets like these, it behooves investors, advisers, businesspeople and journalists to return to first principles. May I first offer a mea culpa for failing to forecast the precipitous decline in barrel prices? Sorry. Getting down to brass tacks, the economic fundamentals of [...]
Read the full article: "Upgrader: Brass Tacks"
Wednesday, September 17, 2008
North West Upgrading, an Alberta-based company building an independent, heavy oil Upgrader in SturgeonCounty, Alberta, reported a long term sales agreement with , Alberta-based distributor for its high quality Ultra Low Sulphur Diesel. Robert Pearce, Senior Vice President, Corporate Development, North West Upgrading said: The Alberta and Western Canadian markets are short of diesel with current demand [...]
Read the full article: "North West Enters Sales Agreement with..."
Sunday, September 14, 2008
Xcite Energy is waiting to receive confirmation of the commercial viability of its Bentley heavy oil field in the North Sea, allowing the firm to start production from next year. Chief executive Richard Smith said: All the engineering and testing work was done by January and now we are awaiting a competent persons report that will [...]
Read the full article: "Xcite waits for green signal on Bentley field"
Sunday, September 14, 2008
MegaWest Energy Corp. has started preliminary drilling into tar-sands formations in Edmonson, Warren and Butler counties, where the Kentucky Geological Survey estimates that shallow, heavy oil resources could total 3.4 billion barrels. George T. Stapleton, CEO of MegaWest, said: If I had to guess, of the 3.4 billion, once all is said and done, if [...]
Read the full article: "Megawest working to tap Kentucky oil field"
Friday, September 12, 2008
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market news Ouch! For our Canadian investors in commodities, times have certainly been better. The TSX has been dragged downward by mining and energy concerns this week, and investors are understandably worried. Some see it as a natural part of a cycle, others as a [...]
Read the full article: "Upgrader:Canadian election in focus"
Monday, September 8, 2008
Mohammad-Ali Emadi, director of research and development at the National Iranian Oil Company (NIOC), said: Iran has more than 85 billion barrels of recoverable heavy oil. For full story, click here
Read the full article: "Iran has 85b barrels heavy oil reserve"
Monday, September 8, 2008
An oil ministry official was quoted as saying: Iran is shipping the last load of heavy crude oil that was stored in tankers in the Persian Gulf to the Suez Canal for delivery to buyers. For full news, click here
Read the full article: "Iran ships last load of heavy oil stored in..."
Monday, September 8, 2008
Independent refiner Valero Energy Corp reported that it had shut a heavy oil cracker at its Corpus Christi, Texas refinery due to a small pump fire. For full story, click here For company’s website, click here
Read the full article: "Valero closes heavy oil cracker at Corpus..."
Thursday, September 4, 2008
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market News As most of you know by now, the barrel price for oil has dropped pr ecipitously in the wake of Gustav’s fairly uneventful passage through the Gulf of Mexico. The drop in prices has weighed down the energy-heavy TSX indexes, energy companies and [...]
Read the full article: "Upgrader: September 3"
Tuesday, September 2, 2008
The dollar extended its rally to fresh 2008 highs on Monday against a basket of currencies as oil’s startling fall toward $105 a barrel improved expectations of lower global inflation and non-U.S. interest rates. Michael Klawitter, head of FX strategy said: What does that mean? We will see mounting rate cut expectations, which means spreads [...]
Read the full article: "FOREX-Euro below $1.45 as oil tumble..."
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Thursday, September 18, 2008