UAE Minister of Energy HE Mohammed bin Dhaen Al Hamli reported that a new round of heavy oil investments will be required if the world is to avoid another cycle of high oil prices. Al Hamli stated: Such investments represent a major burden for resource-holders all of which have their own development agendas and competing [...]
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 [...]
Imperial oil said that its Q3 profit soared 70 %, helped by higher oil and natural-gas prices and improved refining margins. Randy Ollenberger, analyst at BMO Capital Markets in Calgary, said: On a year-over-year basis, they benefited from much higher prices. Where they did particularly well was refining, because of higher margins. For full story, [...]
Murphy Oil Corp. said Wednesday that the company’s profits more than doubled in Q3 results. It gave reasons like record-high prices and big output gains on on overseas fields for the robust rearnings. Murphy President and CEO Claiborne Deming said: Although the lower oil prices seen in recent weeks have curtailed exploration and production earnings, the decline has [...]
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