Opportunity Crudes

Despite Prime Minister Trudeau's commitment to emissions capping, Canada's oil production and exports are on the rise, with an expected addition of 375K b/d to a 2022 daily average output of 4.86MM b/d.

US energy major s preparing for a foremost drilling campaign in Venezuela, which, if successful, could increase its oil output by 65K b/d within a year, with the goal of reaching 200K b/d by the end of 2024.

The prominent Canadian pipeline company is exploring the possibility of increasing its oil pipeline system's capacity by roughly 200K b/d for transporting crude to the US.

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.