The slip-sliding natural gas market plumbed new seven-year depths Tuesday, and industry watchers warned that overflowing storage facilities and tepid demand could push prices still lower.
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A 50 billion Australian dollar $41 billion deal for China to purchase Australian natural gas shows current diplomatic tensions between the two countries will not trump their commercial interests.
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Canadian Oil Sands Trust posted significantly lower second-quarter earnings, hurt by lower crude oil prices and lower production in the quarter, but surged its distribution on confidence in Syncrude operations, strengthening crude oil prices and an improved liquidity position.
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Oil levels were nearing levels that would likely prompt an increase in supply from the OPEC. Such an action would likely cause oil prices to drop. Furthermore, evidence of a bottoming out of the recession is still a bit patchy. The latest data on industrial production for some of the larger countries continues to remain negative.
Canada’s energy players don’t quite seem to get it. At least, not yet. There is much hand-wringing going on about the depressed state of natural gas prices but nothing is being done.
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The government on Saturday declared the ongoing corporate dispute between the Ambani brothers over Andhra offshore gas will not impact India’s acreage auctions, even as the petroleum ministry kicked off the series of roadshows to hawk 70 concessions with the aim of attracting $3 billion investments for exploration. Simultaneously, the government is also offering 10 [...]
Parts of High and West Main streets were closed all afternoon and night Monday, and may be longer, as crews work to clean up about 200 gallons of waste oil that spilled from a truck.
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Turkey and the Nakhchivan Autonomous Republic of neighboring Azerbaijan signed a memorandum of understanding over the weekend for the construction of a natural gas pipeline between Nakhchivan and Turkey’s eastern Anatolian province of Iğdır.
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The contrast between haves and have-nots in the Alberta oilpatch has seldom been so stark.
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Canadian Natural, the nation’s second-leading natural-gas producer, declared a second- quarter profit after production commenced at its Horizon oil-sands project in northeastern Alberta and raised its output forecast.
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