India has initiated a windfall tax on the country’s oil producers and oil refiners who are exporting more due to the high international price of crude oil and refined products, Reuters said on Friday. India’s windfall tax will be 23,250 rupees per ton on oil producers and 6 rupees per liter on gasoline and jet … Read more
Canada’s East Coast has only enough natural gas supply to accommodate one new liquefied natural gas (LNG) export facility, and the project that would boost shipments to Europe the fastest is Repsol SA’s, Canada’s Environment Minister told Reuters. In May, Canada said it was in talks with Spanish company Repsol’s LNG facility in New Brunswick … Read more
Parts of the Western and Midwestern US states are at elevated risk of blackouts this summer as utilities struggle with supply-chain problems and extreme weather events become more frequent. Blackouts have already occurred in the Midwest at the start of the summer, while the Electric Reliability Council of Texas (ERCOT) asked consumers to conserve energy … Read more
General view of the Imperial Oil refinery, located near Enbridge’s Line 5 pipeline, which Michigan Governor Gretchen Whitmer ordered shut down in May, 2021, in Sarnia, Ont.CARLOS OSORIO/Reuters Canadian oil and gas stocks were a compelling buy even before the sector’s latest drubbing. Now they’re almost a no-brainer. Over the past few weeks, the energy … Read more
Imperial Oil Ltd. IMO-T and ExxonMobil Canada XOM-N are parting ways with significant shale oil and gas assets they co-own in northwest Alberta’s Montney and Duvernay plays, selling them to Calgary-based Whitecap Resources Inc. WCP-T for $1.7-billion. Whitecap announced the acquisition of XTO Energy Canada Tuesday evening. In an investor call Wednesday, executives said the … Read more
Vegetable oil barrels terminals belonging to Canadian-owned Viterra hit by Russian missiles in Mykolaiv, Ukraine, on June 24.“Anton Skyba”/The Globe and Mail The day after a Russian missile struck a Canadian-owned vegetable oil terminal in this southern Ukrainian city, police sealed off the surrounding streets, fearing the Russians might strike it again. Forty-eight hours after … Read more
A pier for a planned floating liquefied natural gas terminal in the harbor in Wilhelmshaven, Germany, on May 4.STEPHANE NITSCHKE/Reuters Pieridae Energy Ltd. PEA-T is considering a revival of its plan to build a terminal in Nova Scotia to export liquefied natural gas to Germany, but cautions that Canadian regulatory hurdles could delay any LNG … Read more
Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow Like Scotiabank Monday, Credit Suisse analyst Manav Gupta thinks now is the time to add energy stocks. Mr. Gupta also provided a list of top picks which includes two Canadian stocks, “We continue to believe that in a post Russia-Ukraine … Read more
By Charles Kennedy – Jun 24, 2022, 11:00 AM CDT Biden puts on Thursday with industry leaders to boost offshore wind capacity. Oil refiners, in the meantime, were summoned to meet with Secretary Granholm. Granholm’s meeting with US refiners didn’t lead to any commitments from either side. US President Joe Biden met on Thursday with … Read more
An emergency meeting between Energy Secretary Jennifer Granholm and representatives of the oil industry ended with no firm commitments from either side, although the Energy Secretary signaled that the plan to ban fuel exports might be taken off the table. Per a readout released by the Department of Energy, Granholm seems to have reiterated to … Read more
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