• 3 minutes In a Nutshell...
  • 5 minutes CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 7 minutes Australian renewables zone attracts 27 GW of solar, wind, battery proposals
  • 9 minutes Why Oil could hit $100
  • 4 hours COVID is real now
  • 22 hours Is Biden the poster child for White Privilege ? DNC needs to replace him now before it's too late.
  • 11 hours The Boris Yeltsin of America
  • 7 hours Where is Alberta, Canada headed?
  • 21 hours Why Putin is popular in Russia
  • 20 mins Is The Three Gorges Dam on the Brink of Collapse?
  • 2 hours Joe Biden offers advice to correct the public health
  • 7 hours There Has Been No Trump Manufacturing Boom Even Before Covid
  • 18 hours Fauci: "USA will soon have 100K new cases per day". Trump re(p)-lies: "The problem has been fixed"

Breaking News:

Oil Climbs On Major Crude Draw

Global Energy Advisory 23rd February 2018

Canada’s oil sands production will continue to grow over the next ten years despite a shortage of pipeline capacity and several years of underinvestment. That’s what a study from IHS Markit has found. Despite falling investment, production will continue to grow as every incremental dollar put into new production leads to growth, regardless of international prices, the research company noted.

The country’s oil industry has been plagued by underinvestment resulting from the 2014 price collapse and by very strong opposition to any new pipeline capacity project. Three such projects were suspended by the federal government but one, Trans Mountain’s expansion, received the green light because even a government as liberal as Justin Trudeau’s realized that pipeline capacity shortages are in no one’s favor.

Now this opposition has led to a trade war of sorts between British Columbia, which strongly opposes the pipeline expansion, and Alberta, which needs the expansion to stop paying higher rates for shipping oil by rail.

The fact that even in such conditions the local oil production will continue to grow is a clear indication of the resilience of the industry despite the challenges.

Deals, Mergers & Acquisitions

• Exxon has bought a 2.5% interest in the Baku-Tbilisi-Ceyhan oil pipeline that ships crude from the offshore Azeri-Chirag-Guneshli field complex in the Caspian to Turkey via Georgia. The seller is a…




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