Ottawa’s Trans Mountain purchase no longer projected to be profitable, PBO says

Ottawa’s Trans Mountain purchase no longer projected to be profitable, PBO says

Pieces of the Trans Mountain Pipeline project sit in a storage lot outside of Hope, BC, on June 6, 2021.COLE BURSTON/AFP/Getty Images Ottawa’s purchase of the Trans Mountain pipeline expansion project is no longer projected to be profitable because of construction delays and higher costs, Parliamentary Budget Officer Yves Giroux says in a new report. … Read more

Putin says Russia is rerouting trade to China and India

Putin says Russia is rerouting trade to China and India

“We are actively engaged in reorienting our trade flows and foreign economic contacts towards reliable international partners, primarily the BRICS countries,” Putin said in his opening video address to the participants of the virtual BRICS Summit. The “BRICS” acronym refers to an informal grouping of the five developing economies. According to Putin, trade between Russia … Read more

Gordon Pape: Pipelines have performed better than most during the market pull-back. Here are three to consider

Gordon Pape: Pipelines have performed better than most during the market pull-back.  Here are three to consider

Almost all stocks decline in a bear market, but pipeline companies are doing better than most. The reason is twofold. For starters, global demand for oil and natural gas is keeping their lines full and their pumps working at maximum capacity. There’s no indication this will end soon, even with growing talk of a recession. … Read more

Natural Gas In The Limelight As Power Demand Soars

Natural Gas In The Limelight As Power Demand Soars

While oil markets remain incredibly tight, it is natural gas markets that are making headlines in energy markets this week. Russia is sending less natural gas to European countries and Northeast Asian nations are seeing power demand surge amid intense heatwaves. Chart of the Week – Russian pipeline gas supplies have dropped to their lowest … Read more

The EU Is Considering Capping Gas Prices

The EU Is Considering Capping Gas Prices

Italy’s idea that the EU imposes a cap on natural gas prices has emerged as the “only sustainable solution” to soaring energy prices, Italian Energy Transition Minister Roberto Cingolani said at an energy conference in Rome on Tuesday. Weeks ago, Italy proposed to the other EU member states that they place a cap on the … Read more

RBC’s global energy conference: Top 3 takeaways and stock picks

RBC’s global energy conference: Top 3 takeaways and stock picks

A daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow RBC Capital Markets recently held a global energy conference in New York featuring more than 100 corporate presentations, panels, and keynote speakers. The RBC research team published a recap report Tuesday morning, ” We recognized three themes across our … Read more

Texas Turns To Renewables As Electricity Demand Soars To Record Highs

Texas Turns To Renewables As Electricity Demand Soars To Record Highs

Texas is sweating out a massive heat wave unusually early in the year – and sweating potential blackouts as all those air conditioning units put extra strain on the state’s infamously fragile grid. Already, before the hottest months of the year have even hit, Texans have annihilated previous records for all-time high electricity demand, surpassing … Read more

The Mining Industry Is Replicating The Oil Sector Crisis

The Mining Industry Is Replicating The Oil Sector Crisis

Earlier this month, Tesla made headlines yet again, but this time the news wasn’t good: the company was raising the price of most of its cars, with CEO Elon Musk citing raw material inflation as one of the reasons for the hike. Tesla is not the only one. The prices of copper, cobalt, lithium, aluminum—pretty … Read more

China’s imports of Russian oil hit new record high

China’s imports of Russian oil hit new record high

Imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean pipeline and seaborne shipments from Russia’s European and Far Eastern ports, totaled nearly 8.42 million tonnes, according to data from the Chinese General Administration of Customs. That’s equivalent to roughly 1.98 million barrels per day (bpd) and up a quarter from 1.59 … Read more

Are Oilfield Service Companies A Buy?

Are Oilfield Service Companies A Buy?

Last week, we presented a bear case for the energy sector based on the premise that oil and gas stocks could be in danger of overheating. Energy is the 4th most expensive sector going by Shiller’s P/E, and also looks overvalued compared to gold prices. It’s a feeling that has also been gaining momentum across … Read more