Canada’s federal government will provide a US$1.2-billion (C$1.6-billion) lifeline to Alberta’s energy industry, CTV News reports , adding that most of the funds will be used for “job support.” The Continue Reading
Suncor Energy Inc, Canada’s second-largest energy producer, said on Friday it expects average upstream production to rise 10 percent in 2019, even after implementing Alberta’s mandated output cuts. Alberta has Continue Reading
Alberta’s plan to boost crude prices through mandatory production cuts is working a little too well. Just over a week after Premier Rachel Notley announced that oil producers will be Continue Reading
Since Alberta Premier Rachel Notley announced an oil production cut of 325,000 bpd beginning next month, the spot price for Western Canadian Select has gained over 70 percent, Bloomberg reports Continue Reading
The Canadian trade deficit widened to $1.2 billion in October from a revised $0.9 billion shortfall (previously reported as $0.4 billion) in September. Lower Canadian oil prices were the main Continue Reading
Alberta’s tar sands are among the most carbon-intensive sources of oil. The Canadian province announced it would temporarily curtail oil production in 2019 in the face of a saturated market Continue Reading
“It’s the effect on light [oil] which is the newsworthy item,” Mr. Poloz said in a news conference in Toronto. He said the central bank plans to hold special, targeted Continue Reading
Alberta’s decision to mandate output cuts to reduce a supply glut will have negative effects on North American producers of lighter oil used for blending and U.S. refiners importing crude Continue Reading
The pipeline shortage that has been strangling the Canadian oil industry is weighing on spending plans for next year, with one major producer slashing its capital budget for 2019 by Continue Reading
The government of Alberta this week took an unprecedented decision to enforce a crude oil production cut so excess inventories could be shrunk and the price of western Canadian grades Continue Reading
