Oil Sands

IEEFA Research

IEEFA Investor Memo ExxonMobil (XOM): Company Is an ‘Outlier’ in How It Reports Write-offs on Canadian Oil Sands Assets

Loss Accounting ‘Largely Overlooked by Industry Analysts;’ Full Transparency Could Affect Balance Sheet by $22 Billion

April 17, 2017  (IEEFA.org) – The Institute for Energy Economics and Financial Analysis (IEEFA) today published an investor memo questioning whether ExxonMobil has appropriately accounted for its recent write-off of billions of barrels of Canadian oil sands assets. In “ExxonMobil Investment Note,” IEEFA outlines how ExxonMobil remains the exception in the oil industry in its […]

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Teck Resources: Rough Road on Oil Sands Investments

Teck Resources: Rough Road on Oil Sands Investments

Teck Resources_Rough Road on Oil Sands Investments_April 2015 By Tom Sanzillo and Deborah Lawrence

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Report: ‘A Constellation of Risks’: How Public Accountability Is Slowing Tar Sands Development

Report: ‘A Constellation of Risks’: How Public Accountability Is Slowing Tar Sands Development

Material Risks: How public accountability is slowing tar sands development (pdf) By: Tom Sanzillo (IEEFA), Lorne Stockman (Oil Change International), Deborah Rogers (Energy Policy Forum), Hannah McKinnon (Oil Change International), Elizabeth Bast (Oil Change International), and Steve Kretzmann (Oil Change International)

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More News and Commentary

IEEFA Investor Memo ExxonMobil (XOM): Company Is an ‘Outlier’ in How It Reports Write-offs on Canadian Oil Sands Assets

Loss Accounting ‘Largely Overlooked by Industry Analysts;’ Full Transparency Could Affect Balance Sheet by $22 Billion

April 17, 2017  (IEEFA.org) – The Institute for Energy Economics and Financial Analysis (IEEFA) today published an investor memo questioning whether ExxonMobil has appropriately accounted for its recent write-off of billions of barrels of Canadian oil sands assets. In “ExxonMobil Investment Note,” IEEFA outlines how ExxonMobil remains the exception in the oil industry in its […]

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Market Tide Buries Canadian Oil Sands

SNL: In the last month, Royal Dutch Shell plc and Conoco Inc. shed most of their upstream oil sands operations in the country in a pair of deals that valued their assets at just over C$30 billion. Shell sold its assets to Canadian Natural Resources Ltd. at a steep discount to replacement value, while Conoco […]

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The Pipeline Game Has Changed in the Southeast U.S.

Southeast Energy News: After setting temporary moratoriums on new oil pipelines in 2016, both Georgia and South Carolina are moving forward with hearings and bills to tighten regulations. The ultimate result, says Sen. Tom Young, a Republican from Aiken County, South Carolina, is likely to be “regulations that allow pipelines under a very limited set […]

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IEEFA Exxon: Questions, More Questions

What, Really, Is the Future of the Oil Industry? And How Believable Are Company Projections?

Much will be written this week about the oil industry’s abandonment of key reserves in its oil sands holdings. ExxonMobil is suddenly smaller than it was. So is Canada’s energy industry, and so are world oil markets. All said, the oil industry, globally speaking, has recently now lost about 10 percent of its proven and […]

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Oil Companies Begin to Consider ‘Eventual Abandonment’ of Reserves

Sarah Kent, Bradley Olson and Georgi Kantchev for the Wall Street Journal: A new era of low crude prices and stricter regulations on climate change is pushing energy companies and resource-rich governments to confront the possibility that some fossil-fuel resources will remain in the ground indefinitely. In a signal that the prospect is growing more […]

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IEEFA Update: Exxon Trouble

More Stranded Assets Loom as Market Shift Continues

In writing off a couple of billion dollars of difficult-to-tap Rocky Mountain gas holdings, ExxonMobil this morning is diverting attention from key bigger-picture truths. More write-downs loom, and will probably come sooner than later, including on the company’s 4.6 billion barrels of sand-locked oil in Canada. We expect that particular chunk of the ExxonMobil stranded-asset portfolio […]

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Exxon’s Accounting Problem

John H. Cushman Jr. for InsideClimate News: When Eric Schneiderman, the attorney general of New York, demanded to see documents from ExxonMobil’s accountants as part of his probe into the company’s record on climate change, he was after more than a dollars-and-cents perspective on the oil giant’s books. The accountants, PriceWaterhouseCooper, are also experts in […]

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Exxon’s Lowering of Its Reserve Estimates Is an Acknowledgement of Its Financial Distress

Nicholas Kuznetz for InsideClimate News: Exxon said that the average price of oil this year has been so low that 3.6 billion barrels of oil at its Kearl tar sands field, as well as 1 billion barrels of oil and gas equivalent elsewhere in North America, may no longer be claimed under accounting formulas imposed […]

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Shell Divesting From $1 Billion in Canadian Oil-Sand Assets

Chester Dawson for the Wall Street Journal: Royal Dutch Shell PLC said it had reached a deal to sell $1 billion of shale-oil and gas assets in Western Canada as part of a global divestment program to raise cash and streamline its business operations. Those assets currently produce dry gas and natural-gas liquids equivalent to […]

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Latest Question for Exxon Investors: Are Oil-Sands Valuations Real?

Nicholas Kusntez for InsideClimate News: As oil prices have fallen over the past two years, Exxon has maintained that its tar sands reserves are safe. The position may put the company on shaky ground, said Tom Sanzillo, of the Institute for Energy Economics and Financial Analysis, which favors backing away from fossil fuels. “It is […]

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