The political crisis in Venezuela continues to escalate. With this past Sunday’s controversial election behind him, President Nicolás Maduro is expected to implement sweeping changes to the country’s political system to give him greater powers and erode democracy. Venezuelan oil production has already been declining as a consequence of the escalating political and economic crisis […]
Yesterday, Petronas announced that it would not be proceeding with its Pacific NorthWest (PNW) LNG project. The project would have shipped 1.6 Bcf/d of chilled gas from British Columbia’s northwest coast to Asia by the early to mid-2020s. It is estimated that the project, including the investment in the upstream gas production and pipeline […]
Jackie Forrest and Peter Tertzakian discuss the key takeaways from the International Energy Agency’s (IEA) July Oil Market Report. The report shows that OPEC compliance levels dropped in June, however oil demand is predicted to come in strong in the second half of 2017 with the IEA raising their demand outlook for the full year. […]
The highly anticipated annual CAPP Crude Oil Outlook was published last week, with two notable changes compared to the previous edition: (1) the Eastern Canadian production outlook was boosted 100 MB/d because of the West White Rose Extension, and (2) for the second consecutive year, CAPP increased their outlook for pentane and condensates growth. […]
