By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market and international news Falling natural gas prices are a boon to oil sands operators, so if prices remain low in the upcoming months, Q3 results should improve, especially for refiners. A common theme in the Q2 results released a couple weeks ago was the bite [...]
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, [...]
Shell Canada gave up on its plan to construct a $15b heavy oil refinery in Sarnia, Ontario. For full story, click here
SOME CHEER ON THE OIL FRONT By Duncan Sutherland – Exclusive to Heavy Oil Investing News A good quarter for heavy oil companies Heavy oil and oil sands companies, by and large, posted positive results in the just-ended quarter. This was to be expected, what with oil prices hitting an all-time high. It is worth noting, however, that energy costs took a [...]
Kuwait will be issuing tenders to invite bids for upgrading two of its three existing oil refineries. For full news, click here
Tullo Uganda, a British oil company, has signed an agreement with government of Uganda to construct a refinery in the Albert region of the country. For full story, click here
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 [...]
By Duncan Sutherland – Exclusive to HeavyOilInvestingNews.com The provincial government of Alberta announced that it will invest $4 billion (CDN) of hydrocarbon royalties into carbon capture and storage technology. Ed Stelmach’s Conservative government will create two separate funds. The first will be used to “finance large projects to capture and store carbon dioxide emissions from [...]
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