• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 2 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 24 mins Tesla Closing a Dozen Solar Facilities in Nine States
  • 2 hours Could Venezuela become a net oil importer?
  • 38 mins Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 11 hours Why is permian oil "locked in" when refineries abound?
  • 2 hours EU Leaders Set To Prolong Russia Sanctions Again
  • 14 hours Teapots Cut U.S. Oil Shipments
  • 10 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 5 hours Saudi Arabia turns to solar
  • 14 hours Oil prices going down
  • 19 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 15 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 2 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 1 day EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 15 hours Putin Says 'Fierce' U.S. Politics Hindering Summit With Trump
  • 4 hours EVs Could Help Coal Demand
Alt Text

Why OPEC Won't Flood The Oil Market

Saudi Arabia and Russia are…

Alt Text

EV Makers Receive Little Support From Trump

Electric vehicle makers find themselves…

Alt Text

Oil Markets Turn Bearish Ahead Of OPEC Meeting

Oil prices fell on Tuesday…

Robert M Cutler

Robert M Cutler

More Info

Trending Discussions

Canada Continues Wooing Asian Energy Markets

Canada Continues Wooing Asian Energy Markets

Asian countries continue to line up for Canadian energy to which the United States is unable to commit.  This week Japan's prime minister Shinzo Abe met with his Canadian counterpart Stephen Harper to discuss the potential for shipping liquefied natural gas (LNG) across the Pacific Ocean to Japan.  Although no firm agreement was announced, Japanese newspapers speculated that the first Canadian exports might reach Japan as early as 2018 and no later than 2020.

This reflects, among other things, the greater difficulty that Canada has had in developing LNG export terminals.  Low prices for gas from western Canada is another problem, and although there is reason to believe in a secular rise towards higher prices, U.S. producers are less affected by the current levels.  On the other hand, as prices rise, there are fears in Canada of a typical bust-to-boom scenario; and for this, there is fear that Canada's gas producers are and will continue to be ill-prepared, not even able to take advantage of the anticipated boom.

Related article: Despite Shale, OPEC Still Matters

Nevertheless, India is also getting in line for Canadian oil as well as gas.  India's High Commissioner Nirmal Verma was also in Ottawa this week to sign a nuclear cooperation agreement allowing uranium from Canada to be sold to India as reactor fuel.  India seeks to triple in electricity production in the next decade, in part by building as many as a dozen new reactors.

Agreement was actually reached three years ago, but the additional time is required in order to establish a process for independent verification that the fuel is used for peaceful purposes. In 1974, India used a reactor supplied by Canada to create the fuel for a nuclear bomb test.

India is even willing to consider investment in the Energy East Pipeline, even as TransCanada has had to delay its filing of an application to the National Energy Board from this year until next year.  

Environmental concerns that need to be addressed during the regulatory process are partly responsible for the delay, but also it is now foreseen that the original estimate of 850,000 barrels per day (bpd) is low and should be increased to 1.1 million bpd.

Related article: Canada to Drill for Offshore North Atlantic Oil

Energy talks between the two countries were elevated to the ministerial level last year when our visit India, and India's energy minister will be visiting Ottawa later this month to continue the discussions.

The oil-sands are doing slightly better, as the first crude-by-rail unit train terminal is set to start transporting 50,000 bpd to the U.S. market next month.  This amount will rise at least tenfold by the end of next year.  Meanwhile, an official from Enbridge says that his company expects a decision from the federal government ought is Northern Gateway pipeline by mid-2014 and an in-service date four years later.

By. Robert M Cutler




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News