The Canadian integrated energy company plans to cut its CO2 emissions by 10MM mt/y by 2030 before becoming carbon neutral by 2050.
July 25, 2022
In light of the embargo on Russian oil, the US is trying to lift export restrictions on two OPEC producers—Iran and Venezuela—to fill in the supply void left by Russia in the West as reported in the May-30 Digest, but so far, the results are mixed as evidenced in the latest developments.
July 18, 2022
Kevin Birn, Vice-President of Commodity Insights at data firm S&P Global Inc., said Canadian oilsands output is set to grow by 250K b/d over the next two years, which equates to about 4%/y growth over this period.
July 11, 2022
The South American nation's state energy company Petroecuador has halted all oil production and exports, declaring force majeure across its exploration, production, transportation, and commerce operations late on June 18 amid escalating protests by the confederation of indigenous nationalities (CONAIE) against the economic policies of the government, including fuel price hikes.
July 07, 2022
The US and its southern neighbors have been engaged in oil-for-diesel cross trades, as was reported in the May-9 Digest.
June 27, 2022
Although the startup of Enbridge's Line 3 expansion in 2021 has allowed Canadian producers to send increased volumes of their output to the US to be traded in tandem with US sour grades, the US Gulf Coast is currently dealing with an excess of sour crude because of the US's 180MM-bbl release from its Strategic Petroleum Reserve (SPR), which has flooded the market with heavy- and medium-sour grades that are very similar to WCS. Reports indicate that crude from the US SPR has filled up storage caverns in Louisiana and Texas.
June 20, 2022
On May 27, the US Treasury Department renewed Chevron Corp. (CVX)'s license to continue operations in Venezuela through the end of Nov.
June 13, 2022
Oil output by the Mexican state energy firm hit a multi-decade low of 1.5MM b/d last month, according to data published by the Mexican National Hydrocarbons Commission (CNH) on May 26, as the company's output suffered from declining output at maturing fields and limited exploration.
June 10, 2022
That is what Alberta Premier Jason Kenney claimed when testifying before a US Senate committee on May 17.
May 31, 2022
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.
May 23, 2022
