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Enbridge oil pipeline rationing eases little after curtailment

33 mins ago DieselGasoil Comments Off on Enbridge oil pipeline rationing eases little after curtailment
By Robert Tuttle on 1/21/2019 Canada pipeline construction. Photo: Enbridge. CALGARY (Bloomberg) — A month into Alberta’s mandatory oil curtailment and rationing on the country’s biggest heavy-crude export  pipeline system has eased, but very little. Apportionment, the percentage by which each shipper’s nominated volume is reduced in order to meet a pipeline’s capacity, will be Read More

Saudi and Canadian cuts are leaving world hungry for heavy crude

1 week ago DieselGasoil Comments Off on Saudi and Canadian cuts are leaving world hungry for heavy crude
By Robert Tuttle and Sheela Tobben on 1/13/2019 Duvernay rig floor. Photo: Encana. CALGARY and NEW YORK (Bloomberg) — Output cuts in oil-rich Alberta and Saudi Arabia are combining to leave heavy-crude refiners from the Gulf of Mexico to Asia in a bind. While curtailments in the Canadian province have propelled local prices to their Read More

Alberta keeps oil cuts at January Level as prices surge

2 weeks ago DieselGasoil Comments Off on Alberta keeps oil cuts at January Level as prices surge
By Robert Tuttle on 1/10/2019 CALGARY (Bloomberg) — Alberta’s government maintained its mandated oil curtailment in February at the same level as January even as Canadian heavy oil prices surged. The province’s oil producers collectively must cut February output by 325,000 bpd, according to an email from Mike McKinnon, an energy ministry spokesman. The baseline Read More

US destroyer sails through disputed South China Sea as trade talks kick off in Beijing

2 weeks ago DieselGasoil Comments Off on US destroyer sails through disputed South China Sea as trade talks kick off in Beijing
A US Navy vessel, USS ‘McCampbell,’ has sailed past disputed islets of the South China Sea in a ‘freedom of navigation’ operation. In response, Beijing sent military ships and aircraft to warn it off, condemning the “provocation.” The guided-missile destroyer sailed within 12 nautical miles of the Paracel Islands archipelago, the US Pacific fleet said Read More

If you can't pipe it, refine it: Alberta seeks oil glut solution

2 weeks ago DieselGasoil Comments Off on If you can't pipe it, refine it: Alberta seeks oil glut solution
By Robert Tuttle on 1/6/2019 Canada pipeline construction. Photo: Enbridge. CALGARY (Bloomberg) — What’s worse: Too much oil, or too much gasoline? The government of Alberta, weighing the potential of a new Refinery for the province, may be on its way to finding out. In 2018, surging crude production in the Canadian province ran into Read More

Canada is producing more oil than it can handle

3 weeks ago DieselGasoil Comments Off on Canada is producing more oil than it can handle
Western Canada is producing 365,000 bpd more crude oil that current pipeline capacity can handle, a new report from the National Energy Board has revealed. According to the authority, as of September, Western Canada produced a daily average of 4.30 million barrels of crude, while pipeline capacity stood at 3.95 million barrels per day. Also Read More

Shale explorers boost U.S. work again despite oil price collapse

3 weeks ago DieselGasoil Comments Off on Shale explorers boost U.S. work again despite oil price collapse
By Rachel Adams-Heard on 12/30/2018 Photo: Diamondback Energy. HOUSTON (Bloomberg) — Oil producers again boosted U.S. drilling this week despite the biggest quarterly drop in oil prices since 2014. Working U.S. oil rigs rose by 2 this week to 885, according to data released Friday by oilfield services provider Baker Hughes. More than 100 additional Read More

Canada's rig count plunges by more than half in two weeks

3 weeks ago DieselGasoil Comments Off on Canada's rig count plunges by more than half in two weeks
By Tina Davis on 12/30/2018 Photo: Alberta Premier Rachel Notley. NEW YORK (Bloomberg) — Where have all the rigs gone? While the U.S. continues to add oil and natural gas drilling rigs despite the recent swoon in crude prices, Canada’s count in the past two weeks has dropped from 174 to just 70, the lowest Read More

Texas job growth could take hit if oil rout drags on

3 weeks ago DieselGasoil Comments Off on Texas job growth could take hit if oil rout drags on
By Rachel Adams-Heard on 12/28/2018 HOUSTON (Bloomberg) — Job growth in the Lone Star State will likely weaken in the first half of 2019 if oil prices remain at current levels, according to the Federal Reserve Bank of Dallas. Changes in Texas job growth tend to lag big moves in the crude price by about Read More

Oil sands rebound in 2019 hinges on rail, output cuts, pipeline

4 weeks ago DieselGasoil Comments Off on Oil sands rebound in 2019 hinges on rail, output cuts, pipeline
By Kevin Orland on 12/27/2018 CALGARY (Bloomberg) — The Canadian oil industry could be in for another turbulent year in 2019, depending on how some pivotal events pan out. Government-mandated production cuts and the potential startup of a key crude pipeline are among key developments to watch for next year. Here’s a look at each Read More