Canada Braces For Oil Cuts As Storage Nears Limit
The Covid-19 virus and the ongoing oil price war have created such a large global supply surplus that Western Canada’s oil production will need to be cut from April by Continue Reading
Canada Prepares Multi-Billion Dollar Bailout For Its Oil Industry
The federal government of Canada is preparing a multibillion dollar financial aid package for the oil and gas industry and could announce it as soon as next week, the Globe Continue Reading
Oil-Sands Workers Brace for ‘Hellish’ Outbreak in Remote Camps
As if the market crash threating their jobs wasn’t stressful enough, workers in Canada’s oil-sands are bracing for the coronavirus to upend life in the remote camps where they’re lodged. One Continue Reading
Ultra Cheap Canadian Oil Dominates U.S. Markets
While U.S. crude oil imports from OPEC and Mexico have slumped over the past decade and a half, crude imports from Canada have more than doubled due to the price Continue Reading
U.S.-Canada border shuts as battle against coronavirus intensifies
The United States and Canada closed their mutual border to “non-essential traffic” on Wednesday while President Donald Trump moved to speed up medical equipment production and said hospital ships would Continue Reading
With Oil at Record Low, Canada Is First Price-War Casualty
In the oil price war between Saudi Arabia and Russia, the first big victim is likely to be Canada. Hit by unfettered supply from the world’s top two crude exporters and Continue Reading
Alberta Ready to Cut Oil Output to Ensure Producers’ Survival
Alberta’s government could mandate further cuts to oil production if rising crude supplies and falling prices threaten the survival of drillers in the province. Crude-by-rail shipments are poised to collapse to Continue Reading
Pipeline projects to move Canadian crude near tipping point
The North American energy sector is nearing a tipping point that will soon decide whether to build a series of oft-delayed and heatedly debated pipelines designed to move more Canadian Continue Reading
Canceled Teck oil sands project underscores global climate-energy policy tension
Teck Resources Ltd’s surprise decision to cancel a planned C$20.6 billion ($15.6 billion) oil sands mine in northern Alberta, citing uncertainty about Canada’s climate policy, underscores a global struggle to Continue Reading
Canadian police move to clear indigenous protest in Ontario
Canadian police moved on Monday to clear an indigenous rail blockade in Ontario that has crippled freight and passenger rail traffic in most of eastern Canada for nearly three weeks. Continue Reading
Teck Cancels $20 Billion Frontier Oil Sands Project
Teck Resources has withdrawn its application for a regulatory review of the Frontier oil sands project, the company said in a news release . “Investors and customers are increasingly looking Continue Reading
Canceled Teck oil sands mine extends uncertainty for Canadian upstream
Teck Resources’ withdrawal of its application for the major Frontier oil sands mine in Alberta exacerbates uncertainty for the Canadian upstream as the country’s political leaders clash over climate goals Continue Reading
As Teck oil sands mine hopes for okay from Canada’s Trudeau, 20 other projects on hold
As Canadian Prime Minister Justin Trudeau considers whether to approve Teck Resources’ Frontier oil sands project, roughly 20 others sit on the shelf as companies delay investment decisions hoping for Continue Reading
Canadian Rail Blockades Highlight Grievances of Indigenous Groups
A small cluster of flags and windswept tents sits near railroad tracks east of Toronto, where protesters are preventing trains from passing through a key commercial corridor, threatening Canada’s already Continue Reading
As Canada’s Frustrations Grow Over Rail Blockade, Trudeau Gets Heckled
With concerns growing over fuel shortages and layoffs, Prime Minister Justin Trudeau came under increasing pressure Tuesday to end a rail blockade by Indigenous protesters that has shut down the Continue Reading
Canada’s CN rail system shut over blockade
A major Canadian rail company is shutting down trans-continental train services amid blockades protesting a pipeline in British Columbia. CN Rail says it will be forced to shut down its Continue Reading
Global Financial Giants Swear Off Funding an Especially Dirty Fuel
Some of the world’s largest financial institutions have stopped putting their money behind oil production in the Canadian province of Alberta, home to one of the world’s most extensive, and Continue Reading
Canadian Police Move Against Pipeline Blockades
The Canadian police on Monday began moving against protesters who had set up transportation blockades around the country in sympathy with an Indigenous group’s campaign to halt construction of a Continue Reading
Emissions Could Undo Canada’s Latest Oil Sands Project
The fate of the latest oil sands mining project in Alberta may be decided by the estimates of carbon emission from the province’s oil and gas industry—and Alberta and the Continue Reading
Ottawa Prepares Lifeline For Alberta If It Rejects Major Oil Project
The federal Canadian government is preparing a financial aid package for Alberta in case it decides against a controversial large-scale oil sands project, Reuters reports , citing sources close to Continue Reading
Enbridge’s Struggle To Change Terms On Canada’s Largest Crude Oil Pipeline
Enbridge, which wants to change the contract terms on the largest Canadian oil pipeline network, believes that Canadian producers who have opposed that change may want to stall a review Continue Reading
$15 Billion Oil Sands Project Might Not Go Ahead Even If Trudeau Approves It
Teck Resources is uncertain it will go ahead with a planned oil sands project that is awaiting the approval of the federal Canadian government, the Canadian Press reports , citing Continue Reading
Is This The End Of Canada’s Oil Sands?
Another billion-dollar energy project is polarizing Canada once again, but this time, it’s got nothing to do with pipelines , or even LNG terminals . It’s the Frontier oil sands Continue Reading
Trudeau’s Trans Mountain Oil Pipeline Loses Support
The expansion would almost triple to 890,000 barrels a day the shipping capacity on the line. (Bloomberg) — Canadian Prime Minister Justin Trudeau is losing support for a plan to Continue Reading
Why Angry Alberta Landowners Want To Cut Off Power To Oil Drilling Sites
An Alberta association of landowners who have oil and gas sites on their properties has called on its members to cut off power to drilling sites of companies that have Continue Reading
Alberta’s Oil And Gas Company Tax Debt Balloons To Double The Size
Tough times are continuing for Alberta’s oil and gas country, with the amount of unpaid property taxes that oil and gas companies owe to Alberta towns has more than doubled Continue Reading
Trans Mountain Oil Pipeline Wins Legal Battle
PM Justin Trudeau’s bid to complete the Trans Mountain oil pipeline won a major victory Thursday as Canada’s top court rejected an appeal brought by British Columbia aimed at challenging Continue Reading
Heavy Crude Freezing Solid in Western Canada
Temperatures of -30 degrees Celsius and lower have descended on Alberta and Saskatchewan – cold enough to render the region’s viscous oil rock solid. (Bloomberg) — An arctic blast sweeping Continue Reading
Canada Faces A New Oil Price ‘’Blowout’’
Prices for heavy crude in Canada have fallen to $36.66 per barrel, once again coming under pressure because of limits on pipeline capacity. Western Canada Select (WCS) typically trades at Continue Reading
Canadian Refiner Abandons Climate Goals To Stay Competitive
The largest refinery in Canada, Irving Oil’s 320,000-barrels-per-day Saint John Refinery in New Brunswick on the East Coast, has scrapped its specific carbon emissions reduction target for next year, adopting Continue Reading
Canadian Crude-by-Rail Shipments to Spike
Canadian shipments of crude by rail are poised to surge next year, spurring investment in new export infrastructure. Crude-by-rail capacity in Alberta is expected to grow by 100,000 barrels a Continue Reading
Oil patch woes: Amid downturn, Alberta rages at Canada’s Trudeau
In 35 years of working in Alberta’s oil patch, home to the world’s third-largest crude reserves, Ray Mildenberger endured a volatile industry’s ups and downs without being laid off. That Continue Reading
Why Oil Majors May Never Return To Canada’s Arctic
Canada’s federal government has returned security deposits that oil majors had paid to drill in Canadian Arctic waters which are currently off limits until 2021, but even if Canada lifts Continue Reading
The Finance 202: USMCA isn’t expected to have a big impact on the economy
President Trump is on track to secure a political victory by forging a breakthrough with congressional Democrats to update the North American trade pact. But in a sign the agreement Continue Reading
Volkswagen charged with violating vehicle emission standards in Canada
German automaker Volkswagen AG ( VOWG_p.DE ) on Monday was charged with importing nearly 128,000 vehicles into Canada contravening the country’s environmental legislation, a Canadian government agency said. Volkswagen was Continue Reading
Canada’s Oil Crisis Isn’t As Bad As It Seems
Any investor or prospective investor googling “Alberta”–Canada’s key oil-producing province–will likely give up before clicking any further, at this point. The results will be a string of bleaker-than-bleak forecasts for Continue Reading
Canada’s oil output to pass 7 million b/d by 2040: energy regulator
Oil sands development to lead increase Forecast assumes pipeline completions Energy use per person to decline Calgary — Canada’s oil output will grow nearly 50% to exceed 7 million b/d Continue Reading
Cautious Canadian Oil Majors Forced To Cut Spending
Canada’s biggest oil companies sent mixed signals with a series of budget announcement this week, with some upbeat about next year and others more cautious, with plans to cut spending Continue Reading
Trans Mountain starts construction of 590,000 b/d pipeline expansion
Completion expected by mid-2022 WCS price discounts widens to allow more rail Calgary — Canadian government-owned Trans Mountain this week started the construction of its 590,000 b/d pipeline expansion, which Continue Reading
Syncrude Cuts Oil Output By More Than 1.5 Million Barrels
Canadian oilsands operation Syncrude has reduced its December crude oil production by 1.6 million barrels according to Reuters, citing three market sources. The production cutback was due to a operational Continue Reading
Pipeline Crisis Forces Canadian Oil Giants To Cut Jobs
Two of Canada’s largest oil sands producers, Husky Energy and Suncor, had some bad news for investors this week. Husky said it will slash capital spending for next year and Continue Reading
Oil Sands Crude May Get Heavier Amid Pipeline Shortage
Canada’s struggling oil-sands industry has a plan to cut costs while exporting more of their crude: make it even heavier. (Bloomberg) — Canada’s struggling oil-sands industry has a plan to Continue Reading
Trudeau is greenish. Canada’s oil-producing prairie provinces see red.
Ted Clugston remembers the first time he saw his father cry. Decades later, the mayor of Medicine Hat, Alberta, still nurses a grudge for the man he holds responsible: then-Prime Continue Reading
Canada’s Railway Strike To Cause Billions In Damage, Create Fuel Shortages
Crude-by-rail shipments from Canada’s oil-rich province Alberta have nearly halted, while other provinces face critical shortages of propane, as the strike at Canadian National Railway drags on for a fourth Continue Reading
Strike In Canada Threatens Crude By Rail Shipments
More than 3,000 railway conductors, train persons, and yard workers at Canadian National Railway (CN) went on strike at midnight on Tuesday, threatening to disrupt crude by rail shipments out Continue Reading
Oil Shippers Turn to Rail Amid Keystone Pipeline Shutdown
The shutdown of one of Canada’s largest crude pipelines has shippers turning to rail to move their oil. (Bloomberg) — The shutdown of one of Canada’s largest crude pipelines has Continue Reading
Oil Sands CEO Slams Government For Lack Of Leadership In Climate Debate
The growing polarization in the climate change debate reveals an “extreme” lack of leadership among Canada’s politicians, MEG Energy’s chief executive Derek Evans said at an industry event, as quoted Continue Reading
Heavy Oil Supply Crunch Cushions Canada From IMO 2020
An increasingly tighter supply of heavy crude will in all likelihood help Canada’s oil industry weather the unfavorable effects of the so-called IMO 2020 rules, which stipulate a much lower Continue Reading
Canada LNG Facility Snags First Export Contract
The recently expanded Tilbury LNG terminal in Delta, B.C., has won its first export contract, facility owner FortisBC reported Tuesday. The recently expanded Tilbury LNG terminal in Delta, B.C., has Continue Reading
The Scary Truth About Canada’s Energy Security
While Canadian oil producers are scrambling to sell their oil at a fair price due to a pipeline shortage to take away the crude to foreign markets, Canada’s own domestic Continue Reading