Oil discoveries slump to 60-year low
Discoveries of new oil reserves have dropped to their lowest level for more than 60 years, pointing to potential supply shortages in the next decade. Oil explorers found 2.8bn barrels Continue Reading
Alberta’s `Vicious’ Wildfires Spread to Suncor Oil-Sands Site
Wildfires raging through Alberta have spread to the main oil-sands facilities north of Fort McMurray, knocking out an estimated 1 million barrels of production from Canada’s energy hub. Fire officials Continue Reading
Alberta oil sands producers shut most power generation due to wildfires
Cogeneration power plants in the fire-ravaged Canadian oil town of Fort McMurray were operating at about 18 percent of capacity early Sunday, down from around 30 percent Friday afternoon, as Continue Reading
Canadian Wildfires Slow Their Spread as Workers Reach Safety
Cooler temperatures on Sunday helped slow the spread of wildfires that ravaged the hub of Canada’s oil sands, as the last of 25,000 evacuees from work camps around Fort McMurray Continue Reading
The Reported Death of Peak Oil Has Been Greatly Exaggerated
Baker Hughes recently published their International Rig Count . This rig count is at the end of April. It does not include the US, Canada, any of the FSU countries Continue Reading
Don’t let the low prices fool you: peak oil will be upon us soon
The end of the oil era has been predicted for so long that it has ceased to attract much interest. Critics rightly say it’s now difficult to know who to Continue Reading
Canadian oil prices little changed, production shutins increase
Canadian crude prices were little changed on Friday following a two-day rally as a wildfire in northern Alberta kept nearly one-half of Canadian oil sands production shuttered, forcing BP’s Canadian Continue Reading
Alberta Fires Set to Double as Companies Declare Force Majeure
Wildfires ravaging the center of Canada’s oil patch in northern Alberta and leading more than 80,000 to flee are set to double in size over the weekend. Phillips 66 declared Continue Reading
Fort McMurray fire impact on Canadian oil market
Canadian crude prices continued to rise Friday as oil production remained shut in because of a wildfire, although companies were in the process of returning output. The fire, which started Continue Reading
Alberta Wildfire Risk Seen Biggest for Storage Tanks, Equipment
As a wildfire rages across Alberta’s oil-sands region, pipelines, tanks full of chemicals, buildings and equipment are more at risk than the thick, tar-like deposits that are mined from the Continue Reading