martes, 10 de julio de 2018

Cenovus becomes Canada’s third largest oil producer

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Oil Sands News Digest
Wednesday 11 July 2018
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Its acquisition of oil sands assets last year from ConocoPhillips has propelled the company into the highest ranks of Canadian oil production.

Even after two years of gains, industrial metals trade well below 10-year mean prices. Silver looks cheap, but gold, crude may be fully priced already.

Suncor expects pipeline shipments from its Syncrude oil sands project to be about 60 per cent to 70 per cent of total capacity in August.

Part of Suncor's oil-sands facility will restart this month.

Oil prices rose on Tuesday after Libya declared force majeure on some of its crude exports, while the loss of Canadian supplies helped lifted U.S. crude to 3-1/2-year highs.

Teneris will lay off 40 workers at its TenarisAlgomaTubes plant in Ontario and adjust output there because of the U.S. tariffs on steel and aluminum imports.

Unless demand falls back, or some of these outages dissipate, oil prices could be heading much higher.

1 Week Crude Oil Price
1 Month Crude Oil Price
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