Subscribe free to our newsletters via your
. Space Industry and Business News .




OIL AND GAS
Canadian oil exports hit low mark for year
by Daniel J. Graeber
Calgary, Alberta (UPI) Aug 7, 2015


disclaimer: image is for illustration purposes only

Canada reported total oil exports for May were at their lowest level for 2015, though slight increases have emerged while the country moves into recession.

The National Energy Board in Canada reported total exports through May, the last full month for which it has data. Government data show total crude oil exports for May at 2.8 million barrels per day, about 10 percent less than April and the lowest monthly total for the year.

The wildfire threat is high in the Pacific Northwest, with provincial response teams in British Columbia and Saskatchewan battling the blazes. In May, producers Canadian Natural Resources and Cenovus Energy curbed production, closed facilities and evacuated staff from Alberta operations during wildfire outbreaks.

Fires were as close as three miles from Cenovus operations. Operational closures in response to the fire threat in Alberta cost Canadian Natural Resources close to 100,000 bpd in production.

Last month, NEB released a report on full-year 2014 production. Though crude oil prices fell roughly 50 percent from June 2014 to year's end, the NEB said the energy sector was resilient and export revenue of $100 billion set a record.

Lower crude oil prices in 2015 have crimped spending in the energy sector. The Canadian Association of Oilwell Drilling Contractors said earlier this year it was revising downward its drilling forecast because of lower crude oil prices and changing market conditions in the resource-rich province of Alberta.

Canada relies heavily on export revenue from oil and natural gas. Most of the crude oil exported from Canada heads to the United States. In a weekly status report, the U.S. Energy Information Administration reported total Canadian imports of 2.98 million bpd for the week ending July 31, down 3 percent from the previous week and nearly 7 percent lower year-on-year.

The government's statistics office said last week real gross domestic product in Canada slipped 0.2 percent in May, the fifth straight month for declines and a sign the Canadian economy is moving into formal recession.

"The decline in May was mostly a result of contractions in manufacturing, mining, quarrying, and oil and gas extraction as well as wholesale trade," Statistics Canada reported.

For June, however, Statistics Canada reported a slight uptick in overall exports to the United States. In terms of value, energy products increased 3.7 percent in June to $6 billion, though overall volumes for the month decreased by 0.7 percent. Exports of Canadian oil, however, were up 3.3 percent for the month.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





OIL AND GAS
Rights campaigners blast inaction on Nigeria oil pollution
Lagos (AFP) Aug 6, 2015
Shell's efforts to deal with oil pollution in the Niger Delta remain "utterly ineffective" four years after a landmark UN report called for a $1 billion clean-up, rights campaigners said Thursday. Amnesty International accused the company of failing to match the Nigerian government's commitment to tackle spills in the Ogoniland area of the delta and urged the company to "dramatically" improv ... read more


OIL AND GAS
New device converts DC electric field to terahertz radiation

A droplet's pancake bounce

Cooking up altered states

Twin discoveries, 'eerie' effect may lead to manufacturing advances

OIL AND GAS
Communications satellite system ready for military use

Harris replacing satellite communications terminals

Lockheed Martin set to advance RF sensors development

Navy engineer invents new data transmission system

OIL AND GAS
Payload fit-check for next Ariane 5 mission

SMC goes "2-for-2" on weather delayed launch

China tests new carrier rocket

Arianespace inaugurates new fueling facility for Soyuz upper stage

OIL AND GAS
Surfing for science

Russia develops national high-end navigation system

ISRO is hoping its 'BIG' offering would gain popularity in the market

China launches two satellites as it builds GPS rival

OIL AND GAS
MH370 clues mount as wreckage identified as Boeing 777

US delivers F-16s to Egypt ahead of Kerry visit: embassy

Could 'Windbots' Someday Explore the Skies of Jupiter?

Engine fed steady diet of volcanic ash

OIL AND GAS
Shaping the hilly landscapes of a semi-conductor nanoworld

MIPT researchers clear the way for fast plasmonic chips

Small tilt in magnets makes them viable memory chips

Magnetic material unnecessary to create spin current

OIL AND GAS
Dartmouth-NASA collaboration reveals new X-ray actions

First applications from Sentinel-2A

California 'Rain Debt' Equal to Average Full Year of Precipitation

NASA satellite images Alaska's scorched earth

OIL AND GAS
Treating ships' ballast water: Filtration preferable to disinfection

Playing 'tag' with pollution lets scientists see who's 'it'

Synthetic coral could remove toxic heavy metals from the ocean

Degrading BPA with visible light and a new hybrid photocatalyst




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.