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OIL AND GAS SECTOR – CANADA AND UNITED STATES – OCTOBER 2016BY: PAUL YOUNG, CPA, CGADATE: NOVEMBER 8, 2016
INTRODUCTION
• This presentation will look at trends related to energy sector in Canada and North America.
AGENDA
• Oil Rig Count• Oil and Natural Gas Pricing• Oil Production/Canada • US Refinery Capacity • Oil Production/United States• Oil Exports/Canada• Top 15 Oil Exports Countries• Oil Exports/United States• Newfoundland Oil Leases • Government Policies
OIL PRODUCTION
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus1&f=m
OIL RIG COUNTS
http://boereport.com/2016/11/07/baker-hughes-announces-october-2016-rig-counts/
Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for October 2016 was 920, down 14 from the 934 counted in September 2016, and down 191 from the 1,111 counted in October 2015. The international offshore rig count for October 2016 was 200, down 21 from the 221 counted in September 2016, and down 70 from the 270 counted in October 2015.
The average U.S. rig count for October 2016 was 544, up 35 from the 509 counted in September 2016, and down 247 from the 791 counted in October 2015. The average Canadian rig count for October 2016 was 156, up 15 from the 141 counted in September 2016, and down 28 from the 184 counted in October 2015.
The worldwide rig count for October 2016 was 1,620, up 36 from the 1,584 counted in September 2016, and down 466 from the 2,086 counted in October 2015.
Source: http://www.oilvoice.com/
OIL AND NATURAL GAS PRICING
https://economics.bmocapitalmarkets.com/economics/goods/201610/goods.pdf
CANADA OIL PRODUCTION
http://www.statcan.gc.ca/daily-quotidien/161014/dq161014c-eng.pdf
CANADA OIL PRODUCTION
http://www.statcan.gc.ca/daily-quotidien/161014/dq161014c-eng.pdf
UNITED STATES/REFINERY CAPACITY
https://www.eia.gov/dnav/pet/pet_pnp_unc_dcu_nus_m.htm
CANADA OIL AND GAS PROJECTS
• Natural Resources Canada says it expects the $1.3-billion project to create up to 3,000 jobs during construction. Source - http://www.ctvnews.ca/business/ottawa-approves-1-3b-nova-natural-gas-system-expansion-in-alberta-1.3139583• Canadian Natural Resources is hitting the restart button on a thermal oilsands
project it suspended nearly two years ago, counting on lower costs to shave $100 million from the original $1.45-billion price tag. The Calgary-based company said Thursday it will move ahead with the half-built 40,000-barrel-per-day Kirby North project, starting with a $28-million engineering and procurement budget in 2017 that will focus on finding construction cost savings. Source: Canadian Manufacturing
CANADA OIL EXPORTS
Source: Stats Canada
UNITED STATES OIL EXPORTS
http://www.eia.gov/dnav/pet/pet_move_exp_dc_NUS-Z00_mbbl_m.htm
TOP OIL EXPORTS/2015
http://www.worldstopexports.com/worlds-top-oil-exports-country/
NEWFOUNDLAND LEASES
http://www.canadianmanufacturing.com/financing/n-l-nets-758m-oil-gas-licence-auction-178680/
KEYSTONE PIPELINE
http://www.canadianmanufacturing.com/financing/trump-victory-breathes-new-life-keystone-xl-pipeline-178632/
Gerald Butts Comments – Keystonehttps://www.youtube.com/watch?v=zrdSCKDR5-Y
• Justin Trudeau –Trudeau’s statement on Trump’s win made no mention of Keystone. Instead, the prime minister said he looked forward to working closely with Trump on issues such as “trade, investment, and international peace and security.” Democratic candidate Hillary Clinton opposed the Keystone project and once called Canadian oil the continent’s “dirtiest fuel.” Her victory would likely have signified the death blow to the controversial project.
• Trump called climate change a hoaxTories also pushed Trudeau to advocate for Keystone during his historic U.S. state visit in March and mocked the fact that Natural Resources Minister Jim Carr was not among the cabinet ministers invited to the event.
Source: http://www.huffingtonpost.ca/2016/11/09/trudeau-keystone-trump-climate-change_n_12882818.html
KEY POLICIES
• Canada and Europe have ratified CETA
