The United States’ bid to control Venezuela’s oil sector after abducting Venezuelan President Nicolas Maduro has shone a spotlight on the type of crude held by the Latin American country. Crude oil, which is produced by about 100 countries,

The country’s “extra heavy” oil packs some of the highest associated greenhouse gas emissions of any crude oil.

Most of the reserves in the country are extra-heavy oil that’s tough to extract and generates more greenhouse gases.

Canadian heavy oil prices are plunging this week following the upheaval in Venezuela over the weekend and the prospect of more Venezuelan oil imports to the United States.

Obsidian Energy's (OBE)(OBE:CA) Q2 2024 results were solid, with production averaging 35,773 BOEPD despite a negative impact of 1,550 BOEPD from blockades. Obsidian's dispute with the Woodland Cree First Nation has been resolved with an agreement that ...

The current supply-demand situation for crude oil shows a market that is well supplied. So well supplied in fact, that oil prices have sunk below $60 per barrel. But this fact highlights a distinction that makes a difference. The price of oil that gets ...

Brazil’s heavy and extra-heavy oil—from mature offshore hubs in the Campos Basin to onshore clusters in Rio Grande do Norte and Bahia—continues to reinforce national energy self-sufficiency. Advances in FPSO-based subsea production, enhanced oil ...

As illustrated by the graphic below, at least two members of the Canadian heavy oil cohort have had a good first half of 2024. I refer to Canadian Natural Resources (CNQ), and the subject of this article, Imperial Oil Limited (IMO). On an EV/EBITDA basis ...

Hydrocracking and catalyst development occupy a pivotal role in the upgrading of heavy oil, offering a pathway to convert low-value, high-impurity feedstocks into higher quality fuels and petrochemical intermediates. This process employs hydrogen and ...