Oil Sands

IEEFA Research

IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits

IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits

Accelerating divestment from oil and gas shows similar early trends to global financial institution’s exit from coal

20 October 2020 (IEEFA): Fifty globally significant financial institutions have introduced policies restricting oil sands and/or oil and gas drilling in the Arctic including 23 to date this year, highlighting global capital continues to flee fossil fuels, according to a new tracker developed by the Institute for Energy Economics and Financial Analysis (IEEFA). “Momentum is […]

IEEFA report: Pandemic, price collapse may be final straw that sends Argentina’s ailing “Dead Cow” to slaughter

IEEFA report: Pandemic, price collapse may be final straw that sends Argentina’s ailing “Dead Cow” to slaughter

Reduced investment plans by foreign partners make bad situation worse for struggling Patagonia oil and gas reserve

June 24, 2020 (IEEFA Argentina) — Once seen as a silver bullet to solve the country’s economic and energy problems, development of the vast Argentine oil and gas shale reserves known as Vaca Muerta (“Dead Cow”) in Patagonia has sputtered to a near-halt, according to a new report by the Institute for Energy Economics and […]

Informe de IEEFA: El colapso de los precios provocado por la pandemia podría ser la gota que rebalse el vaso y termine definitivamente con la debilitada «gallina de los huevos de oro» de Argentina

Informe de IEEFA: El colapso de los precios provocado por la pandemia podría ser la gota que rebalse el vaso y termine definitivamente con la debilitada «gallina de los huevos de oro» de Argentina

La reducción de los planes de inversión de los socios extranjeros empeora la ya mala situación de la reserva de petróleo y gas no convencional de Patagonia

24 de junio de 2020 (IEEFA, Argentina) — Según un nuevo informe del Instituto de Economía Energética y Análisis Financiero (IEEFA, por sus siglas en inglés), la explotación de las inmensas reservas de gas y petróleo no convencional conocidas como Vaca Muerta, que solía ser consideradas como panacea para resolver los problemas económicos y energéticos […]

Press release: IEEFA statement on Teck Resources decision to withdraw Frontier Mine proposal

February 24, 2020 – Tom Sanzillo, Director of Finance for the Institute for Energy Economics and Financial Analysis (IEEFA), made the following statement today on Teck Resources’ decision to withdraw its proposal to build the Frontier oil sands mine in Alberta: “Teck’s leadership has acknowledged that conditions have changed, and the $20 billion Frontier project […]

and February 24, 2020 Read More →
IEEFA report: Teck Resources’ Frontier Oil Sands project shows reckless disregard for financials

IEEFA report: Teck Resources’ Frontier Oil Sands project shows reckless disregard for financials

Joint Review Panel’s approval was based on inflated oil price projections

January 15, 2020 (IEEFA North America) – The Joint Review Panel (JRP) approved Teck Resources’ proposed Frontier oil sands mine, now under federal government review, based on inflated oil price estimates of $95/barrel or better “for years to come,” which is  “misguided and reckless,” according to a report released today by the U.S.-based Institute for […]

IEEFA Argentina: La producción de petróleo y gas en Vaca Muerta, en la Patagonia, a la espera de que el nuevo presidente del país marque el rumbo

IEEFA Argentina: La producción de petróleo y gas en Vaca Muerta, en la Patagonia, a la espera de que el nuevo presidente del país marque el rumbo

Los inversores extranjeros pisan el freno ante la preocupante situación política y económica

6 de diciembre de 2019 (IEEFA) ‒ La actividad de la industria del petróleo y el gas en Vaca Muerta, la enorme reserva de esquisto situada en el norte de la Patagonia, Argentina, ha disminuido y en muchos casos se ha detenido por completo a la espera de que el presidente entrante del país fije […]

IEEFA Argentina: Oil and gas production in Vaca Muerta, Patagonia awaits direction from new leadership

IEEFA Argentina: Oil and gas production in Vaca Muerta, Patagonia awaits direction from new leadership

Foreign investors hit pause button amidst concerns over political and economic environment

December 5, 2019 (IEEFA) ‒ Efforts by the oil and gas industry to develop Vaca Muerta, Argentina’s vast shale reserves in northern Patagonia, have slowed and in many instances, come to a halt, as the industry awaits direction from the country’s incoming president. Alberto Fernández, who will take office on December 10, has yet to […]

IEEFA report: Additional $320 million in subsidies used to finance Trans Mountain Pipeline in first half of 2019

IEEFA report: Additional $320 million in subsidies used to finance Trans Mountain Pipeline in first half of 2019

Economic case for TMX weaker than ever, according to financial analysis

November 19, 2019 (IEEFA North America) – The most recent analysis by the Institute for Energy Economics and Financial Analysis (IEEFA) shows an additional $320 million in new subsidies was given in the first six months of this year to finance the already highly-subsidized multi-billion dollar Trans Mountain Pipeline (TMX), calling into question the economic […]

IEEFA update: Aftermath of Saudi oilfield bombings sound warnings for future volatility

IEEFA update: Aftermath of Saudi oilfield bombings sound warnings for future volatility

State-owned oil interests hold back global progress on climate change

September 24, 2019 (IEEFA) – The recent bombings of Saudi Arabia’s oilfields boosted energy stocks globally only to return to previous levels a few days later. The fleeting jump in oil prices confirmed the over-abundance of supply as well as the need to reduce reliance on fossil fuels, according to a briefing note released today […]

Actualización IEEFA: Crisis financiera argentina ofrece oportunidad de repensar plan energético nacional

Actualización IEEFA: Crisis financiera argentina ofrece oportunidad de repensar plan energético nacional

Estrategia podría ajustarse para reflejar las tendencias del mercado y una mayor asequibilidad de las energías renovables

13 de septiembre de 2019 (IEEFA) – La crisis financiera argentina presenta una oportunidad para repensar su plan energético nacional, que depende excesivamente de las reservas no convencionales (fracking) de petróleo y gas en Vaca Muerta, Patagonia, según un informe publicado hoy por el Instituto de Economía Energética y Análisis Financiero (IEEFA). La nota informativa […]

More News and Commentary

ExxonMobil warns of possible 20% writedown in oil and gas assets

Bloomberg: Exxon Mobil Corp. warned that low energy prices may wipe as much as one-fifth of its oil and natural gas reserves off the books. If depressed prices persist for the rest of the year, “certain quantities of crude oil, bitumen and natural gas will not qualify as proved reserves at year-end 2020,” the company […]

August 6, 2020 Read More →

Total takes $8.1 billion charge largely due to Canadian oil sands investments

Reuters: France’s Total said on Wednesday it will take an $8 billon impairment on the value of its assets, mainly in energy-intensive Canadian oil sands projects after the energy group slashed its oil and gas price outlook. The write down follows similar steps by many major oil and gas companies including Royal Dutch Shell and […]

July 30, 2020 Read More →

Credit Suisse plans $328 billion of sustainable financing, tightens fossil fuel lending rules

Reuters: Credit Suisse plans to provide at least 300 billion Swiss francs ($328.41 billion) in sustainable financing over the next decade in areas such as renewable energy and Green Bonds. The move is the latest in a string of announcements by banks looking to display their green credentials and capture demand for cash from companies […]

July 30, 2020 Read More →

U.K.’s biggest pension fund to divest from fossil fuels

The Guardian: The UK’s biggest pension fund, the government-backed National Employment Savings Trust (Nest) scheme with nine million members, is to begin divesting from fossil fuels in what climate campaigners have hailed as a landmark move for the industry. The fund will ban investments in any companies involved in coal mining, oil from tar sands […]

July 29, 2020 Read More →

Deutsche Bank to stop global coal mining business activities by 2025, also halt oil sands funding

Reuters: Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining by 2025 at the latest. The German lender also said that, effective immediately, it would not finance new projects in the Arctic or oil sand projects. The new policies […]

July 27, 2020 Read More →
IEEFA report: Pandemic, price collapse may be final straw that sends Argentina’s ailing “Dead Cow” to slaughter
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IEEFA report: Pandemic, price collapse may be final straw that sends Argentina’s ailing “Dead Cow” to slaughter

Reduced investment plans by foreign partners make bad situation worse for struggling Patagonia oil and gas reserve

June 24, 2020 (IEEFA Argentina) — Once seen as a silver bullet to solve the country’s economic and energy problems, development of the vast Argentine oil and gas shale reserves known as Vaca Muerta (“Dead Cow”) in Patagonia has sputtered to a near-halt, according to a new report by the Institute for Energy Economics and […]

Informe de IEEFA: El colapso de los precios provocado por la pandemia podría ser la gota que rebalse el vaso y termine definitivamente con la debilitada «gallina de los huevos de oro» de Argentina
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Informe de IEEFA: El colapso de los precios provocado por la pandemia podría ser la gota que rebalse el vaso y termine definitivamente con la debilitada «gallina de los huevos de oro» de Argentina

La reducción de los planes de inversión de los socios extranjeros empeora la ya mala situación de la reserva de petróleo y gas no convencional de Patagonia

24 de junio de 2020 (IEEFA, Argentina) — Según un nuevo informe del Instituto de Economía Energética y Análisis Financiero (IEEFA, por sus siglas en inglés), la explotación de las inmensas reservas de gas y petróleo no convencional conocidas como Vaca Muerta, que solía ser consideradas como panacea para resolver los problemas económicos y energéticos […]

Another delay for Keystone XL pipeline project

The Guardian: The controversial Keystone XL tar sands pipeline has been dealt a major setback, after a judge revoked a key permit issued by the U.S. Army Corps of Engineers without properly assessing the impact on endangered species. In a legal challenge brought by a coalition of environmental groups, a federal judge in Montana ordered […]

April 16, 2020 Read More →

UBS Group says it will no longer finance Arctic oil, thermal coal or tar sands projects

The Wall Street Journal: UBS Group AG said Thursday that it would no longer finance new offshore-oil projects in the Arctic, thermal coal mines or oil sands on undeveloped land as banks tighten their restrictions on fossil fuels amid pressure from environmentalists and investors. The Swiss bank declined to provide figures on previous projects it […]

March 6, 2020 Read More →

Controversial Keystone XL pipeline project still faces serious economic questions

Omaha World-Herald: The Keystone XL pipeline has faced bureaucratic hurdles, court challenges and the determined opposition of environmental groups. But the biggest challenge to the project at this point could come from basic economics. Weak oil demand and cheap alternative sources mean pipeline developer TC Energy should consider putting construction plans on pause — perhaps […]

March 3, 2020 Read More →