Post Tagged with: "Syncrude"

Bohrturm, Österreich: Weißer Hof 2014

Oil Price Reached $74 This Week, But Double That Could Be on the Horizon

Despite the surprise moderate build in U.S. crude oil stockpiles, analysts are worried of an impending price spike to $150 or more.  Prices Today Crude oil stocks rose by 1,245 MBBL last week to 417,881 MBBL from 416,636 MBBL. This is 17% below the 502,914 MBBL that was in storage at this point last year, and is 2% below the five-year average. This week’s build was a surprise, as the average analyst prediction called for a draw of 5,174 MBBL. WTI is currently hovering around $74, which marks an approximately 17% increase in price since March this year and a 63% increase since 2017. Syncrude Remains Offline Syncrude’s oil sands facility near Fort McMurray shut down in June for repairs, cutting off a major source of oil production. A power transformer failed, forcing the entire complex offline. The facility, which has a capacity of 360 MBOPD, was expected to be[Read More…]

Suncor vs. Canadian Oil Sands: As Deadline Approaches, War of Words Heats Up

Suncor vs. Canadian Oil Sands: As Deadline Approaches, War of Words Heats Up

January 8 Deadline Looms in Suncor’s Hostile Takeover Attempt Ernst & Young is one of many analyst firms expecting energy-related divestitures and stock-for-stock deals to rise in 2016, and one of the year’s first deals could involve Canadian Oil Sands (ticker: COS) and Suncor (ticker: SU). But if Canadian Oil Sands gets its wish, the potential merger will be nothing more than a failed attempt. Less than Two Weeks Away Suncor has been in pursuit of COS since March 2015, but buyout offers aimed at the Canadian Oil Sands board of directors have been unsuccessful. SU resorted to a hostile takeover attempt in October, and both sides continue to make their case to COS shareholders via literature, presentations and specialized web pages. On December 29, 2015, Canadian Oil Sands sent another letter to its shareholders urging against the merger, calling SU’s offer a “Hail Mary low-ball bid.” A key selling[Read More…]