Opportunity Crudes

That is what Alberta Premier Jason Kenney claimed when testifying before a US Senate committee on May 17.

Even though the country has the largest extra-heavy oil reserves besides Canada, Venezuela has begun importing Iranian heavy crude to feed its domestic refineries according to state-owned PDVSA documents.

Multinational financial-services company Royal Bank of Canada (RBC) has calculated that it will cost $51B to decarbonize the Canadian oilsands while boosting output by 500K b/d by 2030.

On April 6, Canadian Environment Minister Steven Guilbeault warned Suncor Energy Inc. in a letter that its proposed 225K b/d expansion to its oilsands..

In an April-6 letter to Suncor Energy Inc. Chief Executive Officer Mark Little, Canada's Environment Minister Steven Guilbeault said that, in his opinion, Suncor's plan to expand its oilsands base mine near Fort McMurray in northern Alberta as currently proposed would likely cause

In light of the Biden administration's decision to ban Russian energy imports due to that country's invasion of Ukraine, the US is seeking to boost Canadian oil imports although the administration noted that it does not plan to revive the 830K-b/d Keystone XL pipeline that it ended last year.

According to internal PDVSA documents and data from Refinitiv Eikon, Venezuelan oil exports in March fell 4% from Feb. to 644,419 b/d as PDVSA dealt with crude cargoes having been returned by customers over poor quality.

The South American Nation's Energy Minister Juan Carlos Bermeo told Argus that his country may take CO₂ emissions levels into account in awarding contracts in an upcoming tender of six onshore oil blocks.

With US President Joe Biden having signed an executive order banning the import of Russian energy following that country's invasion of Ukraine, the US is expected to turn to Latin America to make up for this loss of Russian supply.