Will Canadian Oil See Any Federal Help?
Crushed by plunging oil prices and demand in the coronavirus pandemic, Canadian oil firms slashed budgets, dividends, and production to save their finances through one of the worst crises in Continue Reading
Canada developing national hydrogen strategy; US taking different approach
Canada is preparing a national hydrogen strategy, making it the first country in North America to develop a plan to use the gas to reduce its reliance on fossil fuels Continue Reading
Canada Remains Biggest Energy Supplier To The U.S.
Canada is the top energy trade partner of the United States and was the largest source of American energy imports last year, the U.S. Energy Information Administration (EIA) said on Continue Reading
Canadian Crude Exports Drop 55% Following Oil Price Crash
The oil price and demand crash in April resulted in Canada’s energy exports plunging by the most on record, with crude oil exports plummeting by 55.1 percent, Statistics Canada said Continue Reading
Suncor: Energy Transition Will Destroy Oil Demand
Low-carbon technologies could disrupt global oil demand in the not-too-distant future the way COVID-19 crushed demand during the lockdowns worldwide, Mark Little, chief executive of one of Canada’s largest oil Continue Reading
Study Shows New Offshore Canada Oil Presence
A detailed evaluation of the Southern Grand Banks petroleum system offshore Atlantic Canada has identified a new oil presence, Applied Petroleum Technology reported. A detailed evaluation of the Southern Grand Continue Reading
Alberta Cuts 1 Million Bpd In Oil Production
Alberta has cut oil production by 1 million bpd so far, the province’s Energy Minister, Sonya Savage, has told OPEC, according to Reuters. “The Minister stated there is currently no Continue Reading
China Is Buying Up Canadian Crude Again
At least three tankers loaded with Canadian crude have headed to China since the start of the year, Bloomberg reports , citing shipping data. This is the latest sign of Continue Reading
Flooding Prompts Evacuation At Heart Of Canada’s Oil Sands
The Regional Municipality of Wood Buffalo, which includes Fort McMurray – the hub of Alberta’s oil sands business – has issued a mandatory evacuation order for all of downtown Fort Continue Reading
Canada’s Oil Firms Set To Curtail Output By At Least 1 Million Bpd
As Canadian oil firms prepare to start reporting what would surely be bleak Q1 earnings and short-term outlooks, analysts expect that the companies will announce curtailments in production to the Continue Reading
Canadian Drillers May Shut-In More Than 1.3 Million Bpd In Second Quarter
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
$0 Oil Forces Canada To Shut Down Crude Production
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
Canadian Oil Sands Per Barrel At $4.47, Now Cheaper Than 12-Pack Coke, $5.08
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
Joblessness Seen Tripling to 25% or More in Canada Oil Heartland
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 Looks To U.S. As Oil Crisis Escalates
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
$5 Crude Could Put Canada’s Oil Sands Out Of Business
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
Massive New Mine Could Be Oil-Sands’ First Big Price War Victim
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
Disputed Canada-US oil pipeline work to start in April
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
Chinese Oil Giant Forced To Postpone Canadian Drilling Campaign
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
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