The number of active oil and gas producing companies in Western Canada declined by nearly 17.5 percent between December 2014, when oil prices were already crashing, and December 2018, a Continue Reading
Highlights Notley says Trans Mountain approval is imminent Kenney would scrap deal to lease 4,400 rail cars Platts Analytics sees crude-by-rail volumes falling Washington — Alberta’s oil production cuts and Continue Reading
A new report by PetroLMI forecasts that Canada’s oil and gas industry is at risk of losing 12,500 jobs this year. About 12,500 of Canada’s oil and gas jobs are Continue Reading
Japan’s JERA, the world’s top buyer of liquefied natural gas, on Tuesday said it had signed an agreement with a Mitsubishi Corp unit to buy up to 16 cargoes, or Continue Reading
The last year or so has not been kind to Canadian oil producers. Output has been rising as international prices stabilized at higher levels, but pipeline capacity has not changed, Continue Reading
The stubborn, sharp rise in Canadian heavy crude prices may finally falter later this year when swelling output overwhelms a pipeline system that The stubborn, sharp rise in Canadian heavy Continue Reading
Canada is warming twice as fast as the rest of the world, a landmark government report has found, warning that drastic action is the only way to avoid catastrophic outcomes. Continue Reading
Although a government-commissioned scientific review of fracking in British Columbia released earlier this month occupies some 232 pages, the word “concerns,” as in “concerns regarding environmental impact,” pops up more Continue Reading
Two years after an M&A boom driven by the exit of several oil majors from the oil sands, sellers of oil and gas assets are having trouble finding buyers. With Continue Reading
When Alberta’s government announced obligatory oil production cuts last December, it was a desperate attempt to arrest a price slide of the local crude benchmark that had led to discounts Continue Reading
While Canada’s oil crisis has stolen much of the media spotlight in recent months, Canadian natural gas producers have been going through a similar predicament—not enough takeaway capacity amid growing Continue Reading
The long-chronicled pipeline woes in Canada continue to bedevil the oil industry. Now, major Canadian companies are holding back on upstream production expansions because of the inability to ship oil Continue Reading
Exxon Mobil Corp. is delaying a C$2.6 billion ($1.9 billion) oil-sands project in Canada by at least a year as the nation’s energy industry grapples with a shortage of pipeline Continue Reading
Oil sands producers including MEG Energy Corp. and Imperial Oil Ltd. are reconsidering oil sands expansions as new export pipelines are delayed and the provincial government limits production. MEG had Continue Reading
Earlier this month when pipeline operator Enbridge said its Line 3 pipeline will only return to operation in the second half of 2020, it was very bad news for Alberta. Continue Reading
Alberta government’s decision to respond to the very low Canadian heavy oil prices with mandatory production cuts of 325,000 bpd has created a division among Canada’s oil industry. The government Continue Reading
Alberta oil producers have found a way around production limits imposed on them by the provincial government: buy the right to pump barrels from other companies that don’t need them. Continue Reading
Canada’s energy regulator recommended approval of the government-owned Trans Mountain pipeline expansion, clearing one of the major obstacles for the project to move forward. The National Energy Board said in Continue Reading
Heavy Canadian crude prices widened to the biggest discount against New York futures this year as pipeline-operator Enbridge Inc. reported that rationing on its heavy oil lines would increase next Continue Reading
A Canadian National Railway Co train derailed early on Saturday in Western Canada, leaking an undetermined volume of crude oil, the company said. Thirty-seven tank cars derailed near St-Lazare, Manitoba. Continue Reading
As Canada continues to struggle with a dire deficit in pipeline capacity, the government is looking for new solutions. With oil prices deep in decline, the Alberta provincial government has Continue Reading
Canadian crude oil is already expensive enough for the production cuts to stop making sense: some producers have already started rolling them back far ahead of schedule. This is what Continue Reading
Canadian crude weakened after two critical oil pipelines remained partially shut amid an investigation into a possible leak in Missouri. (Bloomberg) — Canadian crude weakened after two critical oil pipelines Continue Reading
A Supreme Court of Canada ruling that bankrupt oil and gas companies must clean up their abandoned wells before paying creditors might sound like good news, but it doesn’t solve Continue Reading
Suncor Energy Inc, one of Canada’s biggest oil producers, expects the province of Alberta to end mandatory production curtailments ahead of schedule as they have caused a price boost that Continue Reading
Canada’s struggling oil industry is looking to what is known as partial upgrading technology to thin its sludge-like crude and squeeze more of it through congested pipelines. It is the Continue Reading
Alberta is gradually chipping away at its own oil curtailment program to placate energy companies that have grown unhappy with the mandated cuts. The oil-rich Canadian province amended the curtailment Continue Reading
Exxon Mobil Corp.’s Canadian unit Imperial Oil Ltd. is scaling back the amount of U.S.-bound oil it ships by rail from the province of Alberta to nearly zero this month. Continue Reading
Canadian oil producers are keeping a close eye on the latest events in Venezuela and the opportunity to boost their exports south of the border if things in the troubled Continue Reading
When Alberta Premier Rachel Notley announced obligatory production cuts of 325,000 bpd in December in a bid to tackle a deep discount between Western Canadian Select and West Texas Intermediate, Continue Reading
Canadian crude-by-rail exports edged higher to a record in November, topping the 300,000 b/d level for only the second time since the government has kept statistics on shipments. Exports by Continue Reading
The British Columbia project will boast unimpeded access to LNG customers in Asia. Contracts and subcontracts totaling more than 937 million Canadian dollars (CA$) (US $705.3 million) have been approved Continue Reading
The Canadian province of Alberta’s OPEC-style decision to force production cuts is benefiting oil companies with higher prices, but it is also pushing capital elsewhere and threatens to undermine booming Continue Reading
Sixty percent of Canadians now feel that the country’s oil pipeline capacity has reached crisis levels, according to a new survey from the Angus Reed Institute. Pipeline takeaway capacity has Continue Reading
The goal of Premier Rachel Notley’s mandated production cut is to reduce the storage glut and get oil prices back to profitable levels. Premier Rachel Notley spoke to the citizens Continue Reading
The multibillion-dollar project to build Canada’s first liquefied natural gas export plant is facing opposition from indigenous people who live on the planned route of the pipeline to supply the Continue Reading
Late last year, Royal Dutch Shell gave the greenlight to a massive LNG export terminal on Canada’s Pacific Coast, one of the largest investments in LNG in years. But like Continue Reading
In an attempt to combat a ballooning oil glut and dramatically plummeting prices, the premier of Alberta Rachel Notley introduced an unprecedented measure at the beginning of December when she Continue Reading
Has financial disaster been averted in Canada’s oil and gas industry? ‘Disaster’ is all relative. Let’s just say 2019 is going to be a difficult year following a tough set Continue Reading
While even the most likely new pipeline to ship more of Alberta’s crude oil to refining and export markets—Enbridge’s Line 3 replacement—is nearly a year away at the earliest, the Continue Reading
Canada’s biggest integrated oil and gas firm Suncor Energy said on Monday that its total upstream production set a quarterly record of 831,000 barrels of oil equivalent per day (boed) Continue Reading
“Alberta and its natural gas producers face a daunting crisis,” Alberta’s Natural Gas Advisory Panel said in a report in December, highlighting the challenges that natural gas producers in Alberta Continue Reading
Canada’s oil industry, most of which is housed in Alberta, has had a tough year, with the discount to WTI falling to record highs before Premier Alberta Notley mandated a Continue Reading
Canada’s drilling rig count fell by 61 rigs in the last week of December from a week earlier, with the annual decline at 66 rigs, per the latest weekly rig Continue Reading
Western Canada is producing 365,000 bpd more crude oil that current pipeline capacity can handle, a new report from the National Energy Board has revealed. According to the authority, as Continue Reading
The Canadian oil industry could be in for another turbulent year in 2019, depending on how some pivotal events pan out. Government-mandated production cuts and the potential startup of a key Continue Reading
A new discontent is brewing in Canada’s oil patch—insolvent oil firms or energy companies trying to stay afloat amid low Canadian oil prices have started to lag in municipal tax Continue Reading
As the U.S. oil industry reels from the collapsing oil prices, Canada’s oil business is seeing its oil prices rallying. How can that be? It is the result of strong Continue Reading
A decade ago, Canada’s oil sector was growing so fast it was predicted to become a global energy superpower, but a series of political missteps and formidable environmental activism has Continue Reading
ExxonMobil has withdrawn its Canadian liquefied natural gas (LNG) export project WCC from an environmental impact review, effectively meaning that the plan has been shelved. The WCC LNG project, led Continue Reading
