In its June report on Alberta’s 2008 reserves and supply-demand outlook for 2009-18, Alberta’s Energy Resources Conservation Board has lowered its forecast of bitumen production to 2.7 million b/d in 2018. Last year’s report showed production reaching 3.2 million b/d in 2017. For full story, click here
Continue reading "ECRB has lowered Alberta’s Oil Sands Output Forecast"
Thursday, January 22, 2009
Venezuela state oil company PDVSA is asking too much for the heavy oil that Brazil’s state-run oil company Petrobras hopes to use to supply its Abreu Lima refinery, a Petrobras official said . For full story, click here
Continue reading "Petrobras says PDVSA asks too much for its oil"
Thursday, October 16, 2008
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, [...]
Continue reading "Upgrader: elections special"
Thursday, October 2, 2008
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market News: Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning. Apologies to Winston Churchill, but this quote is perhaps the best measure of the rocky state of the global financial [...]
Continue reading "Upgrader: The end of the beginning"
Monday, July 21, 2008
By Duncan Sutherland- Exclusive to Heavy Oil Investing News The big story of the week is oil’s retreat. The NYMEX crude prices fell just over fifteen dollars through the week. The chief driver of the slide was a worrisome economic outlook for the United States. Indications began to appear that strong supply and depressed demand [...]
Continue reading "Upgrader – July 21, 2008"
Monday, July 21, 2008
Michael Smedley of Candian General investments has characterized the soaring oil prices as “financially engineered” and hinted at heavy decline in oil prices. He was also quoted as saying: The oil companies are also facing rising costs and the heavy oil industry has to deal with emission and environmental issues as well as political risks [...]
Continue reading "Evidence of demand destruction for oil"
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Tuesday, June 23, 2009