Alberta is preparing a giant crude-by-rail operation to help its oil-sands producers cope with a pipeline crunch, and it expects a big profit from the venture.
The Canadian province, which holds the world’s third-largest crude reserves, plans to …
U.S. sanctions on Venezuela have American refiners scrambling to find new sources for the dense crude oil they need to make fuel, but Canadian producers are finding the opportunity too expensive to exploit.
The U.S.’s …
Canadian oil producer Cenovus Energy Inc is sticking to its plan to accelerate rail shipments starting in the second quarter, as crude transported by that form remains profitable despite price swings this year, its chief executive said.
Cenovus …
Pin Oak Acquires Expansion Land In Corpus Christi
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Alberta is working to buy rail cars to help ship more crude as pipeline bottlenecks have the oil-rich province grappling with historic low prices.
The province has engaged a third party to negotiate the purchases and a deal …
From Freightwaves
If a shipper frustrated by rising trucking rates, higher fuel surcharges and the inability to secure a truck is thinking of turning to intermodal, Todd …
Hi-Crush Partners LP (ticker: HCLP) reported a Q1 2018 net income of $53.1 million, or $0.59 per diluted share. Revenues for the quarter totaled $218.1 million on sales of 2,617,627 tons of frac sand. Capital expenditures in Q1 2018 were …
Cenovus Energy Inc. (ticker: CVE) posted a net earnings loss from continuing operations of $914 million, or $(0.74) per diluted share for Q1 2018, compared to Q1 2017 recorded a net profit of $211 million, or $0.25 per share.
“The …
From Reuters
CALGARY, Alberta/NEW YORK (Reuters) – Canadian oil producers are running out of options to get crude to market as pipeline and rail capacity fills up, driving prices …
The EIA estimates that approximately 61% of the total world petroleum supply—or 58.9 million BOPD—travelled in maritime tankers. The oil in these tankers represents nearly 28% of the world’s shipping in weight alone.…
The Energy Information Administration (EIA) announced that it will begin providing monthly data on rail movements of crude oil. The EIA …
H.R. 1679, addressing “the safe transportation of Bakken crude oil by rail,” was introduced to the United States Senate on March 26, 2015, one day after a the S.859 bill was issued regarding oil volatility and increased railroad transportation safety. …
John Zahary, President and Chief Executive Officer of Altex Energy, a company that owns and operates eight crude-by-rail terminals in Western Canada, made …
Cushing, Oklahoma’s giant crude oil storage hub will be linked to Colorado’s Niobrara/Codell shale oil production upon construction and completion of a new 550-mile pipeline between Weld County Colorado’s Wattenberg field and NGL Energy Partners’ (ticker: NGL) Cushing terminal.
When …
Approximately 2/3 of Bakken crude moves by rail
The amount of crude oil and refined petroleum products moved by U.S. railroads increased 9% during the first seven months of this year compared with the same period in 2013, the EIA …
A number of oil train derailments and resulting fires over the past year in the U.S. and Canada spurred questions about the volatility risk of U.S. Bakken crude oil being shipped by rail from North Dakota to refineries throughout North …
A train with 102 cars of crude oil from North Dakota derailed when leaving Seattle last week, heading to a Washington refinery. A locomotive, a car loaded with sand and three oil tanker cars left the track but did not …
