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Canada eyes impact of long oil trains on railway track integrity

TORONTO – Canadian officials are studying the impact of long oil trains on the integrity of the country’s railway tracks, Transport Minister Lisa Raitt said on Friday. Raitt said the research is part of the federal transport department’s response to a series of derailments along Canadian National Railway Co’s mainline in northern Ontario earlier this year. “We’re looking at oil ...

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Oil may have further to fall due to oversupply – IEA

LONDON – Massive oversupply is likely to push oil prices down even further, the International Energy Agency (IEA) said on Friday, adding that the rebalancing of the market was likely to last well into 2016. The agency, which advises the world’s biggest economies on energy policy, said “something has to give” because the world oil market was unable to absorb ...

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ND oil and gas leaders: Lift the outdated export ban

oil tanker

Lifting the decades old oil export ban remains a contentious issue. While those in opposition of the idea argue that it would cause wholesale and commercial fuel prices to increase, but those in favor stress that ending the ban would create numerous economic opportunities. Earlier this week industry leaders and regulators testified during a U.S. House Committee on Agriculture hearing ...

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Propane exports are on the rise

natural gas

Since 2011, exports of propane from the U.S. have been on the rise at a record setting pace. According to the U.S. Energy Information Administration (EIA), in April 2015, exports averaged 636,000 barrels per day, which surpassed levels from April 2014. As reported by the EIA, “U.S. propane production and exports were 190,000 b/d and 201,000 b/d higher, respectively, in ...

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Europeans rush to seek Cuba deals in light of U.S.-Cuba thaw

HAVANA (Reuters) – European officials and businesses are visiting Cuba in unprecedented numbers, attracted by its market-oriented reforms and hastened to act by Havana’s improved relations with the United States. Seventy-five companies accompanied Spain’s Minister of Industry, Energy and Tourism Jose Manuel Soria during his visit this week, and 140 Italian firms also visited with Italy’s deputy minister for economic ...

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Oil prices tumble: noise or fundamentals? Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Brent futures prices tumbled more than 6 percent on Monday, a highly unusual move that has raised questions about whether shifting fundamentals will send the market even lower over the coming months. Over the last month, front-month prices have dropped 17 percent, breaking out of ...

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Soldiers arrive in Saskatchewan to battle raging wildfires

LA RONGE, Saskatchewan — Canadian soldiers arrived Tuesday to help battle raging wildfires in the western province of Saskatchewan, where more than 10,000 people have been evacuated in recent days. The smoke has triggered air quality warnings across the U.S. West and Midwest. Premier Brad Wall said it is the biggest evacuation effort in Saskatchewan’s history. Karen Hill, a spokeswoman ...

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