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@nicholaslepan According to the University of Calgary's School of Public Policy, there should be time limits on how long oil and gas wells in Alberta can be kept on stand by because it is viewed as a way to avoid reclamation costs. Often companies would rather temporarily suspend operations until they become profitable again instead of proceeding with expensive reclamation. Research has found that even if oil prices were to double, only about 12 per cent of oil wells would be reactivated. And if a technology breakthrough were to increase reserves five-fold, only about 10 per cent of oil wells and 6 per cent of gas wells would likely be restarted. This is just research, http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/time-limits-needed-for-inactive-alberta-oil-sands-sites-report-says/article33958030/? #Alberta #oilandgas #oil #energy
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@nicholaslepan Venezuela's state-run oil company, PDVSA, has fallen months behind on shipments of crude and fuel under oil-for-loan deals with China and Russia, according to internal company documents reviewed by Reuters. http://www.reuters.com/article/us-venezuela-oil-insight-idUSKBN15O2BC #energy #oil #Venezuela
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@nicholaslepan #Oil US$56.2/bbl vs US$55.7/bbl yesterday Natural Gas US$3.054/mmbtu vs US$3.168/mmbtu yesterday #Uranium US$26.65/lb vs US$26.50/lb yesterday Source: http://www.spangel.co.uk/
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@nicholaslepan OPEC has delivered over 90 percent of pledged oil output curbs in January, according to figures the exporter group uses to monitor its supply, making a strong start in implementing its first production cut in eight years. http://www.reuters.com/article/us-opec-oil-idUSKBN15P191 #oil #opec #energy
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@nicholaslepan Suncor Energy Inc. $SU president and CEO Steve Williams downplayed the risk of a border tax for Canadian energy explorts Thursday saying, “I think the probability of a border tax as we’re currently thinking about it is relatively low,” and praised former ExxonMobil Corp. chief executive Rex Tillerson, who is now the U.S.’s top diplomat. http://business.financialpost.com/news/energy/suncor-ceo-confident-tillerson-will-shield-oilpatch-from-border-adjustment-tax #energy #oil #Canada
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@nicholaslepan About 270 oil and gas rigs are drilling in Canada this week, which represents 42 per cent of the industry-wide fleet, according to the Canadian Association of Oilwell Drilling Contractors. It’s a considerable improvement from a year ago, when just 29 per cent of the Canadian fleet, or 209 rigs, were drilling, but 2016 was the worst year on record for the industry, the association said. http://calgaryherald.com/business/energy/calgary-based-precision-drilling-raising-prices-after-being-gouged-in-rout #energy #oil
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@PamplonaTrader CFTC- #OIL SPECULATORS CUT WTI NET LONG POSITION BY 23,397 CONTRACTS TO 388,983 IN WEEK TO FEBRUARY 7
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@Goldfinger This is how good it's gotten, high yield energy debt trading tight (at a premium) to the high yield index: http://cdn.ceo.ca/1c9vgsb-IMG_5447.JPG+ a year ago it was in the toilet. $oil
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@Goldfinger $Oil futures positioning: http://cdn.ceo.ca/1ca11vf-IMG_5452.JPG+
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@anomalloy @newswire Platts China Oil Analytics: China Apparent Oil Demand in December Rose 2.3% @newswire/platts-china-oil-analytics-china-apparent-oil-demand $SPGI.US #oil
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@newswire Platts China Oil Analytics: China Apparent Oil Demand in December Rose 2.3% @newswire/platts-china-oil-analytics-china-apparent-oil-demand $SPGI.US China's #oil demand in December 2016 rose 2.3% year over year to 11.69 million barrels per day (b/d), according to an analysis of Chinese government data by S&P Global Platts,
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@anomalloy OPEC reports big Saudi oil cut, boosting compliance with deal. http://www.reuters.com/article/us-opec-oil-idUSKBN15S1CA. #oil
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@nicholaslepan Seventy years ago today, on a sleepy farm near Devon, Leduc No. 1 struck a rich deposit of oil and changed the course of Alberta history. Imperial Oil had a dismal track record. The company had drilled 133 dry holes in a row, and after pouring millions of dollars into the search was about to abandon oil exploration altogether. http://www.cbc.ca/news/canada/edmonton/leduc-oil-discovery-anniversary-oil-boom-history-1.3980331 #oil #history
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@anomalloy $PNN There she goes! #oil
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@PamplonaTrader API SAID TO REPORT U.S. CRUDE STOCKPILES ROSE 9.94M BBL LAST WK -BBG #oil
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@TheGalvanizer Canaccord Morning Coffee – Wed. Feb. 15, 2017 – #OIL #YELLEN $AZ $IMG $MMS $NDM $OGC $PNE $UEX $Y http://ow.ly/V6eJ3090Ylf
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@nicholaslepan #Oil US$55.7/bbl vs US$55.8/bbl yesterday Natural Gas US$2.946/mmbtu vs US$2.920/mmbtu yesterday #Uranium US$25.90/lb vs US$26.75/lb yesterday
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@nicholaslepan #Oil slipped further below $56 a barrel on Wednesday as an industry report showing a large rise in U.S. crude inventories signalled ample supply, even as OPEC achieves record compliance with its supply-cut accord. http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/brent-oil-slips-further-below-56-on-report-of-us-inventory-jump/article34026462/ #energy
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@nicholaslepan Egypt this year has seen a slate of reforms that saw the country open up its mining concessions and floating its currency, next up appears to be attracting oil explorers and investment in light of the recent discovery of ENI's giant Zohr gas discovery. BP, which has been present in Egypt for half a century, last year bought a 10 percent stake in Zohr from ENI. It has also been actively snapping up license blocks in Egypt's recent exploration rounds. #Egypt #oil #energy http://www.reuters.com/article/us-edison-egypt-gas-idUSKBN15T2F3
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@PamplonaTrader #BREAKING: U.S. DOE Crude #Oil Inventories 02/10 Weekly Change: 9.53M
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@PamplonaTrader Crude: 9.527M Cushing: -0.702M Gasoline: 2.846M Distillates: -0.689M Imports: -1.340M #oil
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@Goldfinger EIA forecasts U.S. shale $oil production to rise by 80,000 barrels per day in March to 4.87 million barrels/day.
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@Excelsior $TECK Teck swings to profit in Q4 but misses expectations Cecilia Jamasmie | about 4 hours ago #BaseMetals #Oil #Coal http://www.mining.com/teck-swings-to-profit-in-q4-despite-missing-expectations/
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@Goldfinger The U.S. exported nearly 7.2-million barrels of crude $oil last week, highest level ever, by far.
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@ylr $FRC Is drawing 4% pennant on the hourly chart. STO BUY, MACD rolling up, 50/200sma about to golden cross. http://cdn.ceo.ca/1caac25-FRC.png+ #ylr #oil
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@ylr $WTI A lid at 54$ has bid placed, given the general trend, I believe it will be removed shortly http://cdn.ceo.ca/1cack72-WTI.png+ #ylr #oil
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@Goldfinger Crude $oil curve isn't much of a curve anymore: http://cdn.ceo.ca/1cae73m-Oil_curve.png+
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@Goldfinger Donald Trump signs a law repealing disclosure rule for oil companies: http://www.economist.com/blogs/democracyinamerica/2017/02/big-signing?fsrc=scn/tw/te/bl/ed/ $oil $Trump $XLE
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@Goldfinger U.S. Shale $Oil costs set to rise for first time since 2012: http://www.reuters.com/article/us-usa-oil-cost-analysis-idUSKBN15W1OB
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@NicholasLiberty expecting 1000bdp with an 18 month payout, surrounding property has seen has shown tons of activity from producers $LLEX #hotpick #loadup #oil
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@anomalloy $PNN $AZX poised to bounce back upwards. Today or first thing after the weekend, imho #oil #gold #hotpick
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@PamplonaTrader CFTC- #OIL SPECULATORS RAISE WTI NET LONG POSITION BY 32,945 CONTRACTS TO 421,926 IN WEEK TO FEBRUARY 14 #OOTT
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@Goldfinger WTI crude $oil index at lowest level in a few years: http://cdn.ceo.ca/1caerid-IMG_5550.JPG+ indicating some complacency is creeping in as crude remains range-bound. Via Sober Look
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@Goldfinger Largest commercial net short in crude $oil in terms of number of contracts, but not in terms of notional dollar amount: http://cdn.ceo.ca/1cahb07-IMG_5557.JPG+
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@Leon The U.S. is in far worse shape than the official data represents. Why is there no demand on goods, not even for gasoline if everything is going so very, very well? #economy #oil www.bloomberg.com/news/articles/2017-02-18/gasoline-glut-in-new-york-has-traders-sending-cargoes-abroad
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@Leon Figures show that Saudi Arabia has lost a significant share of South Korea's #oil market to #Iran #politics www.hellenicshippingnews.com/saudi-lose-south-korea-oil-market-share-to-iran/
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@barracuda @Leon Gasoline exports from USGC are because of Eagle Ford and Permian production. This production is pipelined to the US Gulf refiners. Also a lot of this crude is being directly transshipped to Canada for refining. The US crude going to Canada is refined in Canada and then sent to US East Coast markets.
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@Goldfinger Really hard to be bullish of crude $oil here with this much speculative length: http://cdn.ceo.ca/1camkv3-IMG_5604.JPG+
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@BS Many investors still expect #oil to go back up to the levels of a few years ago. Not going to happen, there's so much oil in storage around the world, it's not a simple question of supply & demand anymore. Middle Eastern oil states are investing heavily in renewables, something they didn't even look at 5 years ago. Plenty of writing on the wall. Barring a big war, oil is staying where it is. Or price is going lower, if anything.
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@BS http://www.eia.gov/todayinenergy/images/2016.02.11/main.png+ #oil shows you the difference technological advances can make @dullesb
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@Goldfinger TMX Group $X is in the running for the largest IPO in history, Saudi Aramco: https://www.wsj.com/articles/saudi-arabia-favors-new-york-for-aramco-ipo-1487615947?mod=e2tw $oil
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@anomalloy Crude futures rise, US inventory numbers released Thursday http://www.reuters.com/article/us-global-oil-idUSKBN16003J #oil
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@Goldfinger $Oil roaring higher nearly 2% on hints OPEC may further cut output.
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@barracuda $oil rallying . Saudi's got to get $oil on upward trajectory for the Aramco IPO
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@JT Didn't oil inventories reach new all time highs last week? The ralley seems a little ambitious to me. #oil
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@Goldfinger April WTI Crude $oil futures have been as high as $54.99 this morning, flirting with breakout from 8-week+ range: http://cdn.ceo.ca/1caomo3-WTI_2.21.2017.png+
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@Goldfinger @BS That's the million dollar question:) $oil
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@Goldfinger Good post on futures positioning and chart technicals of $oil, $IWM, Treasury $bonds, etc. https://www.topdowncharts.com/single-post/2017/02/21/Tuesday-Macro-Technicals---21-Feb-2017
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@anomalloy $PNN bottomed out, below MA's and trending upward. More info on Albanian #oil JV just released http://www.penninecorp.com/Paydirt/paydirt-signed-sealed-delivered-pnn-path-forward-albania #hotpick #ninjapicks
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