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 [...]
Continue reading "Upgrader: Tight belts"
Monday, October 6, 2008
Connacher Oil and Gas, which bought Montana Refining in 2006 announced that it is shelving the expansion plans of bringing the refinery to 35,000 barrels per day from 9,500 barrels. Cameron Todd, vice president of refining and marketing for Connacher said: The economic conditions that support the refinery expansion are not there. In addition, the capital markets are awful, [...]
Continue reading "Refinery expansion canceled at Montana Refining"
Sunday, August 17, 2008
Pearl Montana Exploration of Calgary isn’t giving up on its hopes to drill for oil in the Great Salt Lake near the Spiral Jetty art installation. Keith Hill, president of Pearl Montana Exploration of Calgary, said: There could be millions of barrels of oil beneath the lake. The heavy oil could be used for asphalt. For [...]
Continue reading "Additional drilling requests expected near Utah site"
Wednesday, August 6, 2008
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, [...]
Continue reading "Upgrader: August 6"
Monday, August 4, 2008
MegaWest Energy Corp. announced the acquisition of the Montana’s Devils Basin play. For full news, click here
Continue reading "MegaWest Acquires Devils Basin Play"
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Wednesday, October 8, 2008