Europe’s third-largest oil company, reported fourth-quarter earnings that beat analyst estimates and pledged to maintain investment spending at a similar level to last year to revive production growth. For full story, click here
Continue reading "Total Profit Beat Estimates"
Friday, February 6, 2009
Heavy oil production accounts for 38 percent of the Canada’s total oil output, according the National Energy Board, and is growing in importance as conventional supplies wane.The figure does not include bitumen processed into synthetic crudes at oil sands projects or stand-alone upgraders. For full story, click here
Continue reading "Heavy oil accounts for 38 % of Canada’s total oil output"
Thursday, January 29, 2009
Petro-Canada says it would welcome Total SA as a partner in the stalled Fort Hills oilsands project after the French energy giant made a $617-million takeover bid for the development’s smallest player, UTS Energy Corp. Petro-Canada spokesman Peter Symons, said Under the current economic conditions facing not only our project, but the industry in general, [...]
Continue reading "UTS Energy shares nearly double after Total launches $617M bid"
Thursday, January 29, 2009
Energy giant Total SA has stirred up Alberta’s oil patch with its hostile bid for UTS Energy Corp., moving to boost its growing presence in the oil sands in the belief crude prices will recover and allow it to profit from projects now stalled. Mr. Borrell said Our belief is that the price will be [...]
Continue reading "TOTAL MEETS AN ALBERTA CLIPPER"
Tuesday, January 27, 2009
Paris-based energy giant Total is making a C$617-million all-cash bid to buy UTS Energy Corp of Calgary. For full story, click here
Continue reading "Total launches C$617-million all-cash bid for UTS Energy"
Wednesday, October 8, 2008
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
Total, Europe’s third-largest oil producer, plans to acquire 60 percent stake in Bemolanga license, where heavy oil has been discovered. Madagascar Oil SA said: It will use its experience in developing heavy-oil deposits in Venezuela and Canada. For full story, click here For Total’s website, click here
Thursday, September 18, 2008
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 [...]
Continue reading "Upgrader: Brass Tacks"
Thursday, August 14, 2008
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) [...]
Continue reading "Upgrader: August 14"
Wednesday, July 16, 2008
National Iranian Oil Company (NIOC) dismissed reports about Total’s withdrawal from the nation’s South Pars gas deal. An NIOC official was quoted as saying: Total had been previously active in Iran’s oil industry and promised to participate in the development of Phase 11 of the South Pars gas field. For more information on this news, visit here
Continue reading "Total to remain loyal to projects in Iran"
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Thursday, February 12, 2009