A Minnesota judge has agreed that the Enbridge Line 3 replacement project is necessary, but has rejected the Calgary-based company’s preferred route. Enbridge graphic. Enbridge Line 3 project valued at $8.2 billion On Monday, a [Read more]
Alberta oil producers are struggling to get crude to market as Canadian pipelines are at full capacity and rail lines are pressured to ship agricultural products at certain times in the year. Reuters photo by [Read more]
Hedge fund managers have gambled everything on a goldilocks scenario in which oil prices rise without damaging demand or spurring too much shale drilling. Anadarko photo. Hedge fund community’s positioning has become “exceptionally lopsided” By [Read more]
Despite a $312 million writedown on Halliburton Co assets in Venezuela, the company reported a 34 per cent jump in first quarter revenue, mostly due to strong North American demand. Reuters photo by Richard Carson. [Read more]
Oil prices were mixed on Monday after Iran’s oil minister, Bijan Zangeneh (pictured), said the OPEC supply cut agreement does not need to be extended if high oil prices continued. AP file photo by Vahid Salemi. [Read more]
The Tesla/BP wind farm battery storage pilot project will be at BP’s Titan 1 wind farm in South Dakota. BP photo. Wind farm battery storage project will use 212kW/840kWhr Tesla battery BP Wind Energy and [Read more]
On Friday, Baker Hughes data showed the US oil rig count rose by five to 820, 132 more than this time last year. In Canada, the oil rig count is down by three to 38. [Read more]
Early on Friday morning, US President Donald Trump tweeted that “OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very [Read more]
Total SA to purchase 74.3 per cent of Paris-based Direct Energie for €1.4 billion as the European oil major shifts into natural gas and electricity distribution. Bloomberg photo. Total SA joins other European energy giants in [Read more]
An expanding middle class in India means more people are flying to their destinations, boosting demand for jet fuel to record highs this year. India Times photo. Indian government’s infrastructure overhaul has boosted demand for [Read more]
US oil prices hit $69.56 during trading on Friday, the highest since Nov. 28, 2014. Benchmark Brent touched $74.74/barrel, its highest since Nov. 27, 2014. Anadarko photo. Oil prices rise as global crude glut shrinks [Read more]
OPEC and its allies, as well as other oil producers, need to incorporate the increasing probability of a US recession and global slowdown when projecting oil consumption and prices in 2019 and 2020. 40 per [Read more]
Two unions with the Canadian Pacific Railway have issued 72 hour strike notice. A CPR strike could derail any recovery in the Alberta oil industry which has suffered heavy losses since the 2014 oil price [Read more]
Oil prices rose on Wednesday after Saudi Arabia reportedly said it would like to see oil hit $100/barrel and data from the US Energy Information Administration showed US crude stocks fell last week. Repsol photo. [Read more]
This week, production of the Tesla Model 3 was shut down for the second time this year to allow the company to “improve automation and systematically address bottlenecks” at its Fremont, California factory. Tesla photo. [Read more]
On Tuesday, oil prices remained steady as investors took profit after last week’s gains. Prices were supported by possible US sanctions could restrict Iranian oil exports and falling production in embattled Venezuela. Pioneer Natural Resources [Read more]
Policymakers are rapidly embracing trade and investment restrictions for a range of reasons, ranging from trying to raise wages to protect strategic sectors and national security concerns. Getty Images photo by Drew Angerer. Trade and [Read more]
Hedge funds positioning in Brent has become exceptionally stretched and is a significant source of downside risk if and when fund managers try to realize some of their profits. Anadarko photo. Hedge funds bullishness becoming [Read more]
BP carbon emissions will remain at current levels into 2025, despite the company increasing its oil and gas output. The global oil major pledged to maintain its CO2 levels due to rising investor pressure to [Read more]
Oil prices recovered some losses on Monday after weekend air strikes in Syria calmed investors’ concerns over escalating Middle Eastern tensions. AP photo by Hassan Ammar. Oil prices down over 1 per cent Oil prices [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
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