Updates from Genoil Inc
Genoil Inc. provided an update on ongoing marketing and financing efforts on Genoil’s heavy oil and refinery residue upgrading project with Haiyitong Inc. (“HYT”) in China. For full story, click here
Articles Tagged "price"
Is it an odd time to invest in oil wells?
With the price of crude mired at half the peak of $147 it reached in July, this may seem like an odd time to invest in oil wells. For full story, click here
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
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 [...]
Imperial Oil Profit soars 70%
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’s profit up on stronger prices, production
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 [...]
Whither Canada’s Tar Sands?
Apart from potential for economic downturn, development of oil sands may be the vital concern for Canada in next ten years. Based on current expectations, oil sands will host at least $170-bn of investments during this period. For full story, click here
Upgrader: Tight belts
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 [...]
Upgrader: The end of the beginning
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 [...]
Upgrader: Brass Tacks
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Brass tacks In markets like these, it behooves investors, advisers, businesspeople and journalists to return to first principles. May I first offer a mea culpa for failing to forecast the precipitous decline in barrel prices? Sorry. Getting down to brass tacks, the economic fundamentals of [...]
