Crude Landlocked as Canadians Join U.S. to Halt Pipelines
British Columbia, the Canadian province whose official slogan to its own beauty is “Super, Natural,” is invoking another saying: “No more supertankers.”
That’s potentially big...
Crude Landlocked as Canadians Join U.S. to Halt Pipelines
British Columbia, the Canadian province whose official slogan to its own beauty is “Super, Natural,” is invoking another saying: “No more supertankers.”
That’s potentially big trouble in a nation where oil exports amount to $73 billion annually and the industry employs more than 550,000 workers. It’s also a bad omen for nations, notably China, that have invested billions in Canadian oil projects with expectations that they will one day be able to buy vast quantities of heavy Canadian crude.
House Passes Keystone Bill as White House Vows Veto
The U.S. House of Representatives passed legislation to approve the Keystone XL oil pipeline, the eighth time congressional Republicans have advanced a measure promoting the project.
Democrats called yesterday’s vote in the Republican-controlled chamber a largely symbolic effort to score political points because the bill was unlikely to become law. The Senate, where Democrats have the majority, isn’t considering similar legislation, and President Barack Obama’s administration has threatened a veto should the bill emerge from Congress.
Texas Farmers Lose Another Bid to Block Keystone Pipeline
TransCanada Corp. won another of the remaining Texas state-court challenges by landowners trying to block construction of the Keystone XL tar-sands pipeline across their property.
Cheap shale gas bubble 'will burst within 2-4 years': Expert
The current shale gas boom which has bathed the US economy in cheap energy will soon go bust, a former gas industry geologist has told EurActiv.
The future of shale gas in Europe was high on the agenda at an EU summit in Brussels yesterday (22 May), with leaders stressing the “crucial” role that such indigenous energy resources could play in reviving industry.
But according to David Hughes, a geoscientist and former team leader on unconventional gas for the Canadian Potential Gas Committee, the US boom on which many base their expectations is founded on shifting sands.
WTI Heads for Biggest Weekly Decline in a Month on Supply
West Texas Intermediate headed for its biggest weekly drop in more than a month amid signs of rising U.S. oil inventories and a global economic slowdown.
Futures slid as much as 0.8 percent in New York. Prices may decline next week amid speculation that U.S. fuel supplies will be sufficient to meet summer demand after factory output in China shrank for the first time in seven months, according to a Bloomberg News survey. Goldman Sachs Group Inc. recommended selling WTI and buying Brent contracts for December 2014 as supplies accumulate on the U.S. Gulf Coast.
Oil Options Volatility Rises as Futures Decline Third Day
Crude oil options volatility rose as the underlying futures fell for a third straight session.
Implied volatility for at-the-money options expiring in July, a measure of expected price swings in futures and a gauge of options prices, was 22.5 percent at 1:35 p.m. on the New York Mercantile Exchange, up from 22.06 percent yesterday.
Gulf Crudes Strengthen as Volume Declines During Rollover Period
Gulf Coast crude oils strengthened on the spot market during the three-day rollover period characterized by below-normal volume and erratic pricing.
Russia to steeply cut Baltic oil loadings
LONDON: Russia will steeply cut Urals crude oil exports from Baltic ports in June and load a total of 58 cargoes compared to 70 cargoes in May, trading sources said on Friday citing a loading schedule.
OPEC to Keep Exports Stable Amid Supply Glut, Oil Movements Says
The Organization of Petroleum Exporting Countries will keep crude shipments little changed into early next month as abundant inventories cap demand, tanker tracker Oil Movements said.
Gasoil Ship Rates Rising in Northwest Europe as BP Takes Tankers
Rates to ship gasoil in northwest Europe are rising after BP Plc booked tankers to take refined fuel from the region to
