US banks face more pain despite crude’s rally
The recent rally in the price of oil is doing little to improve the prospects of overstretched borrowers in the oil patch, say banks and their advisers, raising the prospect Continue Reading
Path for US shale oil supply finds disagreement at Platts summit
Roughly 4,200 miles from the heart of the Bakken Shale, the future of US shale oil became the focus of the Platts Global Crude Oil Summit in London Tuesday. There Continue Reading
Groundwater Contamination from Fracking Changes over Time: Study
A new Texas study has found that horizontal oil wells fractured by the injection of high volumes of chemicals, sand, and water contaminate nearby water wells with a variety of Continue Reading
How Suncor Has Become The King Of Canadian Oil Sands
Suncor: King of Canada’s Oil Sands Canada’s oil sands are the third largest oil deposit in the world behind Saudi Arabia and Venezuela. The largest oil sands producer in Canada, Continue Reading
Global Rig Count Continues To Fall
Oil Rigs Sunset Baker Hughes recently published its International Rig Count . This rig count is at the end of April. It does not include the U.S., Canada, any of Continue Reading
Producers, refiners see prolonged shutdown from Canadian wildfire
Oil producers and refiners braced on Monday for a prolonged shutdown and possible supply constraints from Canada’s vast oil sands region as a destructive wildfire raged for a second week. Continue Reading
Canada Oil-Sands Industry Adds Diluent Supply to Wildfire Woes
A raging wildfire in Northern Alberta has dealt oil-sands operators another complication: local shortages of diluent, the light oil needed to get Canada’s heavy crude flowing. Statoil ASA said Monday Continue Reading
Alberta Oil Town at Heart of Wildfires Remains Almost 90% Intact
The massive wildfires that swept through Canada’s energy hub of Fort McMurray left almost 90 percent of the city intact, including most of the downtown core, while completely leveling some Continue Reading
North Dakota loses two rigs
The number of rigs operating in North Dakota was down two from the previous week and nearly 70 percent below this time last year, state data show. North Dakota state Continue Reading
Canada’s Oil Output Spared Fire Damage Seen Able to Rebound
Canada oil-sands producers including Suncor Energy Inc. could resume production within a week after the threat subsides from wildfires that cut as much as 40 percent of the region’s output. Continue Reading