US shale oil growth hurts Canadians as well as Opec
Surge of light oil from North Dakota and Texas is cutting into earnings of Canadian producers
Calgary
OPEC (Organization of the Petroleum Exporting Countries) isn't the only victim of the growth in US shale oil.
A surge of light oil from North Dakota and Texas is cutting into the earnings of Canadians who turn heavy oil sands into a lighter crude that fetches more from refiners. Producers in Alberta, home of the country's greatest reserves, upgraded 20 per cent less of the region's crude in October than four years earlier, according to the province's energy regulator.
Two of five plants under construction were cancelled and the pr…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
California to wrap up ExxonMobil plastics probe ‘in weeks’, AG says
Gold edges higher; hovers near one-week low on tempered Middle East fears
Why has gold’s inverse relationship with the US dollar reversed?
Oil futures fall as fears of a wider Middle East war fade
Malaysia’s Sapura Energy to sell stake in SapuraOMV to TotalEnergies for US$705 million
Saudi Aramco in talks to buy 10% of China’s Hengli Petrochemical