Oil futures dropped to more than $7 a barrel on Tuesday after Hurricane Gustav hit the Gulf region with less force and apparently less damage than initially estimated. Cathy Landry, a spokeswoman for the American Petroleum Institute said: We’re still in assessment mode, but so far, things are looking good. For more information, click here
Greencastle Resources Ltd. is pleased to report on the Company’s Q2 operating results and activities. Anthony Roodenburg, CEO, stated: There has never been a better time to sell heavy oil and our discovery at Primate continues to provide shareholders with a solid financial foundation. Greencastle management continues to work to protect and grow the Company’s [...]
BP’s heavy oil project in the Milne Point field moves into its first test phase to check the feasibility of the project. West was quoted as saying: If we only get 10 percent of it, that’s a lot of oil. For more information, click here For company information, click here
Enbridge Inc. announces a deal with BP PLC for a scaled-back plan to bring oil sands crude to the Texas Gulf Coast, a key market where Canadian producers are attempting to make inroads against Venezuelan, Mexican and Persian Gulf competitors. Mr. Wuori was quoted as saying: We felt it’s really important to get the capacity [...]
The biggest pipeline company of Canada, Enbridge Inc., and BP Plc has agreed to build a delivery system to transport Canadian heavy crude oil from Flanagan, Illinois, to Houston and Texas City, Texas. The Canadian Association of Petroleum Producers said: Production from Alberta’s oil-encrusted sands may jump to 2.77 million barrels a day by 2015 [...]
Iran is finally shipping the last load of heavy oil stored in Persian Gulf to the Suez Canal for delivery to buyers, as reported by an oil ministry official. An official was quoted as saying: Most of it (crude) is gone. In Khark Island, we have no oil left. The last of it is in a [...]
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