EIA forecasts $80 oil price this year 01/17/2010
Henry Hub natural gas spot price projected to average $5.36 per thousand cubic feet in '10; storage levels expected to remain high
The U.S. Department of Energy's Energy Information Administration said Jan. 12 in its Short-Term Energy Outlook that it expects the price of West Texas Intermediate crude oil to average $80 per barrel...

EIA expects $76 per barrel this winter 12/20/2009
Henry Hub natural gas spot price projected at $3.95 per thousand cubic feet this year, $4.62 in 2010; US natural gas consumption down
The U.S. Energy Information Administration said Dec. 8 in its Short-Term Energy Outlook that it expects the price of West Texas Intermediate crude oil to average $76 from October through March, with a...

LNG bulls running again 12/13/2009
Huge Asian contracts suggest confidence region's long-term expansion won't slow
Gloom and doom about Asia's long-term demand for liquefied natural gas are evaporating about as fast as the fuel itself does at room temperature. Big money deals are being signed between utilities and...

OPEC: Pricey crude could erode 2010 demand 11/15/2009
OPEC says demand for crude oil will slip in the industrialized nations next year if oil prices climb and are sustained above their current level. The warning Nov. 11 came as the Organization of the P...

Koreans stun Canadian oil patch 11/01/2009
State-run KNOC offers premium for Harvest Energy Trust holdings in search for energy security; bolsters chances of new sands market
South Korea's state-run Korea National Oil Corp. has taken a headlong plunge into Canada's energy sector in a highly complex move that is causing widespread head scratching within the industry. The mo...

U.S. oil imports from Canada rise 10/04/2009
Although U.S. oil imports were down 8.9 percent in July from a year earlier, to 9.227 million barrels per day, oil supplies from Canada to the United States hit new records, picking up the slack as OP...

Judge dismisses Keystone pipeline lawsuit 10/04/2009
Says environmental group did not have authority to challenge TransCanada permit; base line to be complete by late November
A judge has dismissed a lawsuit brought by an environmental group that claimed a permit that allows the construction of an oil pipeline between the United States and Canada violated federal law. U.S....

China tests investment, security laws 09/27/2009
Whatever U.S. politicians might think about the "dirty" nature of the Alberta oil sands they show signs of even greater concern as the Canadian government embarks on a review of PetroChina's planned G...

Asian dragon stirring to life on resources 09/27/2009
China takes more subtle approach in efforts to secure minerals, oil and natural gas; Canadian government rolls out welcome mat
Since 2006, Chinese investors have acquired almost 11,000 square miles of African farmland. In August, China's state-controlled Jilin Jien Nickel Industry Co. made a surprise C$148.5 million unsolicit...

EIA sees volatility for spot oil prices 09/20/2009
Agency expects $70-per-barrel average for West Texas Intermediate in fourth quarter; natural gas inventories likely to set record
While it expects crude oil spot prices to continue to be volatile, the Energy Information Administration also expects that the range of those prices will be narrower than earlier this year and last ye...

OPEC leaves crude oil targets unchanged 09/13/2009
OPEC on Sept. 10 decided to leave its production quotas unchanged, opting to take a cautious approach in a market awash in crude and a global economy still in the early stages of recovery. The 12-nati...

Our Arctic Neighbors: Lukoil wants Nenets field to produce more oil 09/13/2009
The Yuzhno-Khylchuyuskoye field in Russia's Nenets Autonomous Okrug is not yet producing as much oil as Lukoil had hoped, Leonid Fedun, a vice president of the company, said at a press conference Aug....

China in major Canadian oil sands deal 09/06/2009
PetroChina puts up C$1.9 billion for 60% stake in two Athabasca Oil Sands Corp. projects, MacKay River and Christina Lake
China is back in the Alberta oil sands, in a big way. PetroChina is spending C$1.9 billion for a 60 percent stake in two projects being developed by privately held Athabasca Oil Sands Corp. If the de...

BP, Irving scuttle plans 08/02/2009
Sweeping changes in refining sector rule out need for New Brunswick plant; North America awash with surplus capacity
Given a bulging list of North American refineries up for sale, it was no surprise that BP and Irving Oil bailed out on plans to proceed with North America's first greenfield oil refinery in more than...

BP in Alaska: BP's early history 07/12/2009
Company's origins go back 100 years
The first commercial oil discovery in the Middle East in 1908 brought about the birth of British Petroleum a year later, and it quickly grew into one of the world's largest oil companies. In the year...

China leads energy spurt 06/21/2009
BP Review outlines unprecedented shift in global demand for fossil fuels in 2008 toward emerging nations of Asia-Pacific region; gas growth slows
Unprecedented turbulence in world energy markets in 2008 may have overshadowed a less dramatic but perhaps equally profound development in implications for the long term. For the first time ever, the...

Oil ministers: OPEC keeps output steady 05/31/2009
OPEC oil ministers on May 28 kept output targets unchanged in hopes a recovering world economy will raise prices through increased demand - and thus eliminate the need for them to cut back production....

Rallying to oil sands 05/24/2009
French, Norwegian firms make a case for expanding their presence in Alberta
From big and small, from domestic and international stages, there is a steady, rebuilding drumbeat of support for the Canadian oil sands, motivated largely by a belief that cheap oil is disappearing. ...

Chevron gets approval for expanded Gorgon 05/10/2009
$25 billion LNG project off Australia gets environmental approval for third train, but investment decision is still months away
Chevron Corp. has received approval from Western Australia's Environmental Protection Authority to expand its Gorgon LNG project on Barrow Island. The approval came April 29. The huge project - now ex...

All is not quiet on the oil sands front 04/26/2009
Total's hostile bid for UTS seizes attention; unclear whether it is 'final and best' offer; host of other proponents gear up
The slowdown in Canadian oil sands activity shouldn't be mistaken for nothing taking place. While some companies take a breather to reconsider future moves, there's also a persistent buzz as the secto...

Oil near $50 on 2nd half recovery hopes 04/19/2009
Investors pushed oil prices up to near $50 a barrel April 16 as they brushed off poor U.S. economic news and focused on a possible second half recovery in global crude demand. Even an unexpectedly hig...

Total tap dance in Canada oil sands 04/12/2009
Company has made hostile bid for startup junior while unloading minority position in another startup; questions about C$9B project
France's Total is bewildering the Alberta oil sands sector as it moves in all directions at the same time. It is engaged in a hostile bid for a startup junior, is unloading a minority chunk of another...

Pushing an Asian option 04/12/2009
Canadian industry, Alberta government seek alternative outlet for oil sands crude, prodded by concerns over U.S. climate change legislation
A push from the United States and a nudge from China have stirred fresh interest among those who believe it's vital to open up Asian markets for Canadian oil sands production. But the road to the Far...

Canadian rig workers face wage rollback 04/05/2009
Staring into the abyss seems to have jolted the Canadian service sector into action. With thousands of jobs evaporating and drilling forecasts for Western Canada in a nosedive, the industry is set to...

Saudis say oil needs to be at $60-$75 03/22/2009
Saudi Arabia's oil minister said March 16 that petroleum-producing countries need a price of at least $60 a barrel to bring more energy resources on the market. "If we want all hydrocarbon resources...