Opportunity Crudes

London-listed Orcadian Energy has entered into a provisional agreement with an undisclosed North Sea operator to farm out an 81.25% stake in its Pilot ultra-heavy oil project, estimated to contain over 79 MM bbls of crude oil.

Canada's major oil producers, in collaboration under the Pathways Alliance, have proposed a substantial $12.27B carbon capture and storage (CCS) project, contingent on the Canadian federal government establishing a contract to stabilize future carbon prices, according to a statement from Pathways.

The impact of this surge on Canadian crude price differentials has been significant.

ts oil and gas sector has achieved a remarkable feat by increasing production from conventional resources while significantly reducing carbon dioxide (CO2) and methane emissions over the decade leading up to 2021, according to a report by the industry association, the Canadian Association of Petroleum Producers (CAPP).

The US Biden administration's initiative to engage in talks regarding a temporary lift of sanctions against Venezuela has ignited a glimmer of hope for the rejuvenation of the world's largest oil reserves.

The Canadian oil industry is facing a series of shifts that impact both its production and future prospects.

Chevron Corporation, the last major U.S. firm operating in Venezuela, has been authorized by Washington to restore lost output and resume oil exports.

Venezuela's opposition party is proposing to export 200K b/d to a trustee who would use the proceeds to pay off creditors' claims on Venezuelan assets abroad.

What are the prospects of the world's two largest heavy-oil producers in the coming New Year?

The company has filed a permit with the Alberta Energy Regulator to build a 60K-b/d diluent-recovery unit (DRU) on a 46-acre (19-ha) site near Bruderheim, Alberta, Canada.