Suncor Energy is a super investment opportunity
While Suncor Energy (NYSE:SU) has been a good performer, and has tons of potential to soar, that has increased even more as the company has returned to full production after a fire slowed things down a couple of months ago at its Fort McMurray, Alberta facility at the Canadian oil sands.
Suncor has just about everything going for it to be a great stock to own and hold for years, as in fourth quarter of 2009 they produced 278,000 barrels of oil a day at a cost of $38.70 a barrel, down from costs of $41.30 a barrel in 2008.
Taking into account estimated earnings for 2011, the company is trading at about 11 times earnings, with huge upside potential.
With operational costs down and oil prices up, Suncor is poised to create a lot of wealth for investors.
Suncor has recently shut some of its processing units at the Edmonton, Alberta refinery for maintenance.
Showing posts with label Foreign Oil. Show all posts
Showing posts with label Foreign Oil. Show all posts
Wednesday, April 7, 2010
Thursday, April 1, 2010
BP (LSE: BP) Awards Drilling Contracts in Iraq
BP Iraqi Drilling Contracts
BP (LSE: BP) has offered the lucrative drilling contract for the Rumaila oil field in Iraq, the largest one in the country, and one of the largest oil fields in the world, to several drilling companies. BP and its partner won about $500 million in contracts in the oil field, which will be contracted out to Schlumberger Ltd, Iraqi Drilling Company, Daqing Oil Field Co. Ltd and Weatherford International.
At this time 1.07 million barrels of oil a day are extracted from Rumaila, with a goal to increase that to 1.23 million barrels daily by the end of 2010, or at latest, early 2011. Ultimately they want to produce 2.85 million barrels a day. There are an estimated 17 billion barrels in crude oil reserves in Rumaila.
The group of companies will drill 70 wells this year in the oil field to increase production.
BP has entered several deal recently to build a solid foundation going forward, including in the Gulf of Mexico.
BP and its Chinese partner CNPC signed a 20-year contract to develop the oil field last year.
BP (LSE: BP) has offered the lucrative drilling contract for the Rumaila oil field in Iraq, the largest one in the country, and one of the largest oil fields in the world, to several drilling companies. BP and its partner won about $500 million in contracts in the oil field, which will be contracted out to Schlumberger Ltd, Iraqi Drilling Company, Daqing Oil Field Co. Ltd and Weatherford International.
At this time 1.07 million barrels of oil a day are extracted from Rumaila, with a goal to increase that to 1.23 million barrels daily by the end of 2010, or at latest, early 2011. Ultimately they want to produce 2.85 million barrels a day. There are an estimated 17 billion barrels in crude oil reserves in Rumaila.
The group of companies will drill 70 wells this year in the oil field to increase production.
BP has entered several deal recently to build a solid foundation going forward, including in the Gulf of Mexico.
BP and its Chinese partner CNPC signed a 20-year contract to develop the oil field last year.
Friday, March 5, 2010
Reliance (NSE:RELIANCE) Adds Bahama Clean Storage
Reliance Clean Storage Facilities
Reliance Industries (NSE:RELIANCE) in a bid to expand its business in the United States has leased a storage facility in the Bahamas that will hold about 1.2 million barrels of clean storage. The Borco Terminal is the specific storage facility leased by the Indian company.
This is the second clean storage facility leased by the company, as they've also leased 800,000 barrels of clean storage based in the harbor of New York from the Hess Corporation (NYSE:HES).
The deal for Borco has actually been done for some time, as it was reportedly completed sometime in the second half of 2009, although just being released.
To serve the European and Mediterranean markets, last year Reliance secured a clean storage facility at Ashkelon in Israel.
Reliance Clean Storage Facilities
Reliance Industries (NSE:RELIANCE) in a bid to expand its business in the United States has leased a storage facility in the Bahamas that will hold about 1.2 million barrels of clean storage. The Borco Terminal is the specific storage facility leased by the Indian company.
This is the second clean storage facility leased by the company, as they've also leased 800,000 barrels of clean storage based in the harbor of New York from the Hess Corporation (NYSE:HES).
The deal for Borco has actually been done for some time, as it was reportedly completed sometime in the second half of 2009, although just being released.
To serve the European and Mediterranean markets, last year Reliance secured a clean storage facility at Ashkelon in Israel.
Reliance Clean Storage Facilities
Saturday, January 3, 2009
Commodities: End of the Ethanol Era
Ethanol an artificial commodity, not the answer
Imagine a plant that can be easily grown on farms all over America. Imagine it can be turned into a fuel through a simple process. Imagine we burn that fuel in our cars to reduce our dependence on foreign oil.
That sounds wonderful. But that plant is not corn. That process is not simple. And that fuel is not ethanol.
Click here for more on "End of the ethanol era"
I can't consider ethanol a real commodity, as is trying to be foisted on us by the government and greenies. There's absolutely nothng about it that has any value, as about every positive assertion made about it is turning out to be false.
Imagine a plant that can be easily grown on farms all over America. Imagine it can be turned into a fuel through a simple process. Imagine we burn that fuel in our cars to reduce our dependence on foreign oil.
That sounds wonderful. But that plant is not corn. That process is not simple. And that fuel is not ethanol.
Click here for more on "End of the ethanol era"
I can't consider ethanol a real commodity, as is trying to be foisted on us by the government and greenies. There's absolutely nothng about it that has any value, as about every positive assertion made about it is turning out to be false.
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