Alberta
News
December 01, 2020
Minnesota approved the stormwater pollution plan for Enbridge鈥檚 Line 3 pipeline replacement and expansion, the project鈥檚 last pending permit, the company said. Construction is expected to take six to nine months on a line that will add 370,000 barrels a day of capacity.
News
November 01, 2020
Last week Ritchie Bros. conducted its largest Grande Prairie, AB auction ever, selling 4,900+ equipment items for CA$82+ million (US$63+ million)鈥攕urpassing the previous gross transaction value (GTV) record by 32 percent.
News
November 18, 2020
Partnerships with indigenous communities, which often spearhead opposition to oil pipelines, is one of several strategies that TC Energy hopes will make the project more palatable to the incoming administration in the U.S., said Bevin Wirzba, TC鈥檚 president of liquids pipelines.
News
October 26, 2020
Cenovus Energy Inc. is getting more than just a rival Canadian oil producer with its acquisition of Husky Energy Inc. It鈥檚 also shoring up its defenses against an anti-oil sands movement that could get a boost if Joe Biden is elected as the next president of the U.S.
News
October 26, 2020
The newly combined company is expected to break even in 2021 at a West Texas Intermediate crude price of US$36 a barrel. It will continue to operate as Cenovus Energy with its headquarters remaining in Calgary.
News
October 02, 2020
鈥淭he recent near-death experience for some heavy oil producers is a good reminder that investors should focus on companies with strong balance sheets, ample liquidity, robust cost structures, and low sustaining capital requirements,鈥 BMO Capital Markets analyst Randy Ollenberger said in a report.
News
September 02, 2020
Heavy Canadian crude rose after a spill led to the shutdown of a pipeline that supplies diluent to two major oil-sands sites in Alberta.
News
August 31, 2020
Siemens Energy has been selected to provide its highly efficient gas turbine technology and long-term services to the planned 900 MW Cascade Power Plant in Alberta, Canada. The project supports the decarbonization of Alberta's power supply by switching from coal to natural gas.
News
August 06, 2020
In 1976, Alberta鈥檚 government established a special fund to save some of its oil and gas revenue for leaner times when prices dropped or resources ran dry. For decades, royalties poured into Alberta鈥檚 coffers, with the gusher accelerating in the boom of the early 2000s as the province developed its vast oil-sands reserves, the world鈥檚 third-largest oil resource. But successive governments failed to stick to the savings plan.
News
July 24, 2020
Canada鈥檚 Natural Resources Minister Seamus O鈥橰egan said he鈥檚 in talks with the U.S. Secretary of Energy Dan Brouillette about finding a path to move ahead with oil pipeline projects, the Globe & Mail reported.
News
July 08, 2020
At least 20% of shut-in Canadian production is being restored, just months after the price crash forced producers in Alberta鈥檚 oil sands to slash up to 1 million barrels a day of output.
News
July 07, 2020
Crude from Canada's oil sands is almost entirely shipped through U.S. pipelines to refineries in the Midwest and Gulf Coast. The lack of enough shipping capacity has been the dominant problem facing the industry for the past several years.
News
June 30, 2020
The company will bring back output in Alaska and other states next month, with Canadian production coming back in the third quarter. 鈥淕iven ongoing variability and uncertainty in the outlook for production curtailments, the company will continue to suspend forward-looking guidance and sensitivities,鈥 Conoco said in a statement Tuesday.
News
June 30, 2020
Alberta Premier Jason Kenney is using the Covid-19 pandemic to accelerate efforts to diversify his oil-dependent economy, a change of emphasis for a leader who once pledged to return the Canadian province to fiscal discipline.
News
June 23, 2020
The pandemic-induced oil crash prompted Canadian companies to cut about 1 million barrels of daily crude output, freeing up space on the country鈥檚 previously congested pipelines. With that production likely slow to return and as many as three new conduits slated to be built in the next three years, the industry may have years of cheap, plentiful shipping capacity ahead.
News
June 04, 2020
Canadian banks鈥 exposure to oil and gas loans has surged to a record as energy firms tapped credit lines to combat plunging oil prices.
News
May 29, 2020
Our look ahead the coming week, including how drillers' ability to react to an increase in oil and gas demand could be impacted by technical and manpower limitations, and what key OPEC players have in store for the first week of June.
News
May 20, 2020
Canadian and Alaskan crude that normally travels to the U.S. West Coast is finding a market in China, where demand is almost back to pre-pandemic levels.
News
May 07, 2020
Enbridge Inc., North America鈥檚 largest pipeline operator, is cutting jobs, lowering executive pay and deferring some capital spending as measures to fight the Covid-19 virus reduce oil flows on its system and slow down construction.
News
May 05, 2020
Canadian heavy crude surged to its strongest price versus futures since at least 2008 as producers curtailed output and Enbridge Inc. agreed to open part of its pipeline system for storage.
News
April 29, 2020
While global oil prices remain near multi-decade lows, the heads of two major Canadian crude producers see reasons for hope that the market will rebound in the months ahead.