Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2015-06-10 19:15:00

OIL PRICES COLLAPSE

OIL PRICES COLLAPSE

The collapse in crude prices will pinch Canada's long-term oil output growth by more than a million barrels a day, highlighting the lasting impact of energy companies' capital spending cuts, said an industry group in the world's fifth-largest producer.

The Canadian Association of Petroleum Producers estimates Canada will produce 5.3m b/d by 2030, down from a forecast of 6.4m b/d published a year ago, due to the "sharp drop in world oil prices over the past year".

The downgrade underscores how Canada's oil industry has reacted differently than the US in the face of oil prices 40 per cent lower than a year ago. Together, the two countries will be a bulwark of oil supply growth as global demand surpasses 100m b/d in the next decade.

Shale drillers in the US are more nimble in the face of oil price moves. The idling of hundreds of drilling rigs points to a decline in US production later this year.

In Canada, most production gains are coming from the Alberta oil sands, an expanse of tar-like bitumen that requires great upfront investment and pays back over decades. Once built, oil sands projects tend to run at full capacity.

Capp, based in Calgary, estimated Canadian oil production would rise by 151,000 b/d to 3.893m b/d in 2015, and top 4m b/d in 2016, a similar forecast to last year's.

Companies such as ExxonMobil-controlled Imperial Oil are completing projects begun years ago. This year, Imperial will double production capacity at its Kearl oil sands project to 220,000 b/d.

"The existing operations are very competitive, even under low oil price cycles," said Ryan Kubik, chief executive of Canadian Oil Sands, the largest shareholder in the Syncrude oil venture in Alberta. "Where you see the impact is more on future investments."

Oil sands producers have however deferred or cancelled billions of dollars worth of capital spending on new projects, delaying new supplies planned for late in the decade. Royal Dutch Shell, for example, withdrew its application to build a 200,000 b/d oil sands mine at Pierre River, Alberta.

"We're not investing in significant expansion in oil sands mining at this point in time," said Marvin Odum, Shell's head of exploration and production in the Americas.

Capp estimated total oil and natural gas industry capital spending at C$45bn (US$37bn) in 2015, down nearly 40 per cent from 2014. Oil sands capital spending will be 30 per cent lower at C$23bn.

ft.com

Tags: OIL, PRICES, CANADA

Chronicle:

OIL PRICES COLLAPSE
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

OIL PRICES COLLAPSE
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

OIL PRICES COLLAPSE
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

OIL PRICES COLLAPSE
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

All Publications »