Sunday, September 19

oil and gas

Commodities, Enbridge Inc., energy, FP Energy, Oil & Gas, oil and gas

Enbridge’s US$3 billion Moda Midstream purchase raises questions about SPOT project for Canadian producers

Breadcrumb Trail Links Oil & Gas News FP Energy Commodities Enbridge's deal in Texas expands the company's footprint in the heart of the largest oilfield in the US Author of the article: Geoffrey Morgan Pipelines run to Enbridge Inc.'s crude oil storage tanks at their tank farm in Cushing, Oklahoma, March 24, 2016. Photo by Nick Oxford/Reuters file photo Article content CALGARY – Enbridge Inc., North America's largest pipeline company, is spending US$3 billion to buy North America's largest oil export terminal and expand its customer base among Texas oil producers, leaving questions about the future of an export terminal designed for Canadian oil producers. Advertisement This advertisement has not loaded yet, but your article continues below. Article...
energy, FP Energy, Oil & Gas, oil and gas, oil prices

COVID-19’s impact on economy, travel will likely shape oil prices, spreads

Breadcrumb Trail Links Oil & Gas FP Energy Author of the article: Photo by Daniel Acker/Bloomberg files Article content LONDON — Oil markets only exhibit the current combination of falling spot prices and a calendar spread in backwardation relatively infrequently, which suggests the contradiction between them will resolve itself rapidly. Advertisement This advertisement has not loaded yet, but your article continues below. Article content Falling spot prices imply the production-consumption balance is expected to become less tight – but backwardation implies the opposite, with a further drawdown in inventories from already low levels. The contradictory combination of falling prices and backwardation normally occurs when prices have passed a cyclical peak, wh...
Canadian Economy, Commodities, Economy, energy, oil and gas, Seamus O'Regan

‘Sweet spot’: Ottawa struggles to balance’green recovery’ with oilpatch’s hopes

Article content continuedAn offshore oil rig off the coast of Newfoundland. Photo by Harry Gerwin/Getty Images files"It's frustrating that it's taken so long for them to recognize that we're part of the solution here in Newfoundland and Labrador," Johnson said. The province's unemployment rate will hit 14 per cent by the end of the year, the highest level in the country, and will continue to remain in double digits until at least 2022, TD Bank Group forecasts.O'Regan has previously said the federal government is “at the table right now, hammering out concrete steps needed to support the offshore (oil industry).”The minister agrees the historic collapse in global oil prices this year following the pandemic and Saudi-Russian oil price war has been challenging for the industry across the c...