Venezuela’s oil output is already below 1997 levels, but could dip significantly lower as the country’s president, Hugo Chavez, has alienated oil service companies by refusing to pay their fees, and in some cases, seizing their assets. For full story, click here
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market news As predicted, the combination of falling oil prices, demand destruction and tight credit is beginning to affect heavy oil and oil sands. Energy stocks and trusts are down, and the news marginalia suggests that companies have a bleak outlook for the future profitability [...]
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 [...]
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Hello to everyone out there. Sorry that Upgrader is later than usual this week. I have been in Winnipeg and Northern Ontario on a semi-vacation. On that note, it was helpful to be without news for a few days as it offered perspective on what [...]
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Welcome back to the Upgrader. More Q 2 results were announced this week. The record heavy oil prices of the quarter have been kind to most, thought profits in refining operations have been hindered. Calgary’s Baytex Energy Trust (NYSE:BTE) was boosted by $125 million (CDN) [...]
By Duncan Sutherland- Exclusive to Heavy Oil Investing News Senator and Presidential candidate Barack Obama has announced that his administration would release light crude oil from the nation’s Strategic Petroleum Reserve and restock the inventory with heavy crude. Many have criticized the US government for continuing to stock the reserve with oil prices so high, [...]
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