In light of recent guidance revisions and the wider collapse in drilling and completion activity in Western Canada, Rystad Energy now expects total 2020 Canadian upstream spending to fall below Continue Reading
Canadian oil companies have begun shutting down steam-driven oil sands production projects as prices continue to fall, Reuters reports , noting the move could have dire long-term consequences for the Continue Reading
The collapse of global oil demand has impacted the price of Canadian Oil Sands to such a degree, the price of a barrel is now cheaper than a 12-pack of Continue Reading
Alberta Premier Jason Kenney said the crisis rocking the global oil industry could cause at least 25% unemployment in his province. The dual shocks of the Saudi-Russian oil price war and Continue Reading
Canada is in close contact with the United States about the oil price crash and its effect on the industry, Canada’s Deputy Prime Minister and Minister of Intergovernmental Affairs Chrystia Continue Reading
Over the last few weeks, the higher breakeven costs for oil and the lack of sufficient takeaway capacity has come back to haunt Canada’s oil patch. Two months ago, the Continue Reading
The last major oil-sands mine to start operating in northern Alberta could be Canada’s first big casualty of the Saudi-Russian price war and the Covid-19 pandemic. Teck Resources Ltd., one of Continue Reading
A Canadian company said Tuesday it plans to start construction of the disputed Keystone XL oil sands pipeline through the U.S. Midwest in April, after lining up customers and money Continue Reading
China National Offshore Oil Corporation (CNOOC) is postponing this year’s planned drilling campaign offshore Canada’s east coast because of the coronavirus pandemic, the Chinese state-held oil firm told CBC News Continue Reading
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
