A heavy oil extraction project north of Wabasca has been suspended for the time being. Low oil prices are apparently to blame. For full story, click here
Articles Tagged "shell"
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 [...]
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 [...]
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 [...]
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 [...]
Shell has cancelled plans to construct a new refinery at Sarnia due to rising constructions costs and weak market conditions. Amrik Ahluwalia, Shell’s general manager of manufacturing expansion, was quoted as saying: This decision is a very difficult one for Shell and it is only taken after careful consideration. For more information on this news, [...]