August 23, 2023 – Reuters
Canada steps up pace of oil production growth, seen rising 8% in two years
By Nia Williams
Aug 23 (Reuters) - A busy oil sands maintenance season and early summer wildfires put a dent in Canadian crude production in the second quarter, but oil companies are ramping up growth over the next two years and will add nearly 8% to Canada's total output, analysts estimate.
Read the full article here: ...
June 11, 2023 – Oil Price
Pioneer Sees $70-$100 Oil As Supply Growth Remains Constrained
By: Tsvetana Paraskova
Oil prices are set to rise later this year and trade in the $70-$100 range over the next three to five years as supply growth remains limited and OPEC+ continues to restrict output, according to a top executive at the largest pure-play U.S. shale producer, Pioneer Natural Resources.
Higher labor and material costs are slowing U.S. shale production growth, Pioneers's Executive Vice President Beth McDonald told Reuters at RBN...
June 8, 2023 – Offshore
Sea Port Oil Terminal to start operations by 2027, says Enterprise official
By Offshore staff
HOUSTON – Enterprise Products Partners’ Sea Port crude oil export terminal off the coast of Texas could begin operations between the second half of 2026 and early 2027, the pipeline operator’s co-CEO said on Thursday.
According to Reuters, Enterprise Co-CEO Jim Teague disclosed the proposed Sea Port Oil Terminal’s start date at the recent RBN Energy export conference in Houston. Previous announcements had said that the Sea...
June 8, 2023 – Yahoo Finance
Enbridge's Mainline crude pipeline volumes to drop as Trans Mountain expansion
By Arathy Somasekhar
HOUSTON, June 8 (Reuters) - The coming expansion of the Canadian government-owned Trans Mountain pipeline will reduce crude oil flows on Enbridge Inc.'s Mainline oil pipeline, an Enbridge executive said on Thursday.
The expansion, which is expected to begin operations in early 2024, initially will reduce Enbridge's Mainline volumes by 200,000 to 300,000 barrels per day, Senior Vice President Phillip Anderson...
June 8, 2023 – Reuters
Oil supply growth still limited as demand rises, US shale executive says
By Arathy Somasekhar
HOUSTON, June 8 (Reuters) - Global demand for crude oil is continuing to rise but supply growth remains limited, which will lead to higher prices later this year, said an executive at Pioneer Natural Resources (PXD.N), the third-largest producer in the top U.S. shale basin.
The U.S. oil industry's output has been capped by higher labor and materials costs that have squeezed profit margins and investor demands to limit...
