Oil-Sands Spending to decline 20%
Energy firms are cutting back development of Canadian oil sands, the world’s biggest energy reserves outside Saudi Arabia, as crude prices plunge and processing costs become prohibitive. For full story, click here
Articles Tagged "canadian"
Canadian Natural Resources posts Q3 results
Here are the earnings from Canadian Natural Resources, company’s progress on completion of its Horizon Project & the budget for next year. Allan P markin, chairman of the company, said: Canadian Natural’s third quarter results and our 2009 budget reflect our continued drive towards developing our low risk, exploitation and exploration based assets, while creating value for our shareholders. [...]
Upgrader:Harper’s gambit
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 [...]
Canadian Heavy-oil group opens chapter in Edmonton
The Canadian Heavy Oil Association is branching out from Calgary to launch a chapter in Edmonton. Neil Shelly, executive director of Fort Saskatchewan’s Industrial Heartland Association, said: Edmonton is starting to dominate the heavy-oil scene, especially for day-to-day operations, so this makes sense. With all the work being done here, at the U of [...]
Upgrader: elections special
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. Now that these two events are a matter of record, there is much good news for the heavy oil and oil sands industries. First, [...]
Canadian Natural enhances cost of Horizon project
Canadian Natural Resources “slippage” in its Horizon startup plans and raised the project cost by another eight per cent. For full news, click here
Canadian Natural shares jump
Shares of Canadian Natural Resources surged more than 5 percent on Thursday as record operating profits offset concerns over new cost overruns. For full news, click here
Another oil sands cost jump for Canadian Natural
The cost of Canadian Natural Resources Ltd’s Horizon oil sands project jumped another 6 percent to nearly C$9.3 billion ($8.8 billion). For full story, click here
Upgrader: July 30
SOME CHEER ON THE OIL FRONT By Duncan Sutherland – Exclusive to Heavy Oil Investing News A good quarter for heavy oil companies Heavy oil and oil sands companies, by and large, posted positive results in the just-ended quarter. This was to be expected, what with oil prices hitting an all-time high. It is worth noting, however, that energy costs took a [...]
Encana’s heavy oil price averaged $102.18
Encana’s Western Canadian Select heavy oil averaged $102.18, compared with $45.84 in 2007. For full news, click here
