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
“It’s a step in the right direction,” said Joan Pinto, an analyst with CIBC Capital Markets. “We’re dealing not with the symptom, but the problem.” Ms. Pinto said WCS’s rise Continue Reading
Alberta’s Premier Rachel Notley announced that the government of the province will enact an 8.7-percent crude oil production cut to clear excess stockpiles as pipeline bottlenecks have plunged the selling Continue Reading
Several oil companies in Canada pushed back on Monday against Alberta’s mandated cuts in crude production, warning about excessive government intervention even as the discount on Canadian crudes narrowed sharply Continue Reading
Alberta Premier Rachel Notley said on Sunday that the Western Canadian province would mandate temporary oil production cuts to deal with a pipeline bottleneck that has led to a glut Continue Reading
Canada’s Top Oil Province on Friday lowered its 2019 economic growth forecast as oil prices continue to flounder according to a government statement cited by Reuters . Crude oil production Continue Reading
Highlights Nine out of global top 10 in US Colorado stumbles over regulatory concerns Denver — The US holds nine out of the top 10 global locations for investment in Continue Reading
Montana District Judge Brian Morris, who earlier this month ordered the suspension of work on the controversial Keystone XL crude oil pipeline, has now allowed TransCanada to conduct preliminary activities Continue Reading
The Government of Alberta has been forced into buying more oil trains to move crude from the province, the Calgary Sun reports, quoting Premier Rachel Notley as describing the situation Continue Reading
Alberta is working to buy rail cars to help ship more crude as pipeline bottlenecks have the oil-rich province grappling with historic low prices. (Bloomberg) — Alberta is working to Continue Reading
Faced with a crisis moving oil out of the country, the provincial government in Alberta is stepping in to purchase trains in order to ease the midstream bottleneck. Western Canada Continue Reading
Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast. The country’s oil production will average 4.59 million barrels a Continue Reading
Canada’s Alberta is in talks to buy rail cars to transport 120,000 barrels per day (bpd) of crude oil and expects a deal to conclude within weeks, Premier Rachel Notley Continue Reading
People demonstrate against the expansion of the Trans Mountain pipeline project in Burnaby Canada recently spent billions on an oil pipeline in order to triple its capacity. But amid fierce Continue Reading
One reason is the warming planet and longer growing seasons. Temperatures around La Crete are 3.6 degrees Fahrenheit warmer on average annually than in 1950, Canadian federal climate records show, Continue Reading
Alberta’s oil producers are facing an extraordinary challenge caused by pipeline bottlenecks combined with growing production, Scotiabank Economics said in a report released this week. The bottlenecks could pressure the Continue Reading
Canada’s oil industry is facing record-low prices for its exports, a glaring lack of infrastructure to bring its product to market, and an uncertain long-term outlook . But none of Continue Reading
Justin Trudeau’s government is unlikely to heed Alberta’s plea for new trains to alleviate the country’s oil crisis, federal officials say. Buying new locomotives and rail cars isn’t a short-term fix Continue Reading
While the U.S. oil industry has hit a speed bump with the recent $20 drop in oil prices in New York, producers in Canada are in a full-blown crisis. Heavy Canadian Continue Reading
Alberta Premier Rachel Notley said Monday that government-mandated production cuts were being considered in order to close an oil price differential she claims is costing the Canadian economy roughly $80 Continue Reading
Crude oil producers in Alberta appear to be split on a proposed cut in production amid record-low prices, Canadian media report . One of the large Canadian oil producers, Cenovus Continue Reading
Heavy Western Canadian Select crude fell to a record low as several oil producers shut in production and some demand the Alberta government intervene to mandate across-the-board cuts. The oil-sands Continue Reading
Canadian oil producers are in an increasingly tough predicament. With high and increasing oil demand around the globe over the last year, Canadian oil production has increased accordingly. All of Continue Reading
One of the large Canadian oil producers, Cenovus Energy, is calling upon the government of Alberta to mandate temporary production cuts at all drillers in a bid to ease Canadian Continue Reading
Canada’s oil producers can’t catch a break. Even as local production cuts help alleviate pipeline bottlenecks, heavy crude plunged below $18 a barrel for the first time since 2016 — Continue Reading
Canadian oil prices briefly plunged as low as $15 per barrel last week, after a U.S. federal judge blocked the construction of the Keystone XL pipeline. Canada’s oil industry has Continue Reading
Almost 2 years after Exxon Mobil removed billions of barrels of oil-sands crude from its reserves, its Imperial Oil unit is investing again. (Bloomberg) — Almost two years after Exxon Continue Reading
As the biggest Canadian oil producers reported Q3 earnings in the past two weeks, analysts were more interested in the companies’ expectations about takeaway capacity rather than earnings, due to Continue Reading
Drilling for oil and gas in Canada will likely decline by 5 percent in 2019, the Petroleum Services Association of Canada has forecast, blaming pipeline capacity shortages and the resultant Continue Reading
Suncor had a record high production in Q3 of 744,000 b/d. The company had a realized price of $49/b for its bitumen. Suncor considers it viable to install coker at Continue Reading
A natural gas shortage in Canada is expected to last through the winter months, forcing gas users ranging from industrial forces to local governments to seek alternative fuel sources and Continue Reading
The highways of Saskatchewan show just how desperate Canadian oil producers are to get their crude to market. Tanker trucks laden with oil are journeying almost 500 miles (800 kilometers) Continue Reading
“Canada has no energy plan beyond pedal-to-the-metal export of its non-renewable energy assets.” That’s the bottom line of a recent opinion piece in Calgary Herald by David Hughes, an earth Continue Reading
In a fascinating twist of price trends, a barrel of Canadian heavy crude that is selling for less than US$20 a barrel in Alberta could sell for three times that Continue Reading
Forgive Canada’s oil-sands producers for the whiplash. After seeing Western Canada Select crude climb during the first half of 2018, producers have since watched the price plummet by more than Continue Reading
Forgive Canada’s oil-sands producers for the whiplash. After seeing Western Canada Select crude climb during the first half of 2018, producers have since watched the price plummet by more than Continue Reading
A First Nations chief has declared that no outcome from the National Energy Board’s review of the Trans Mountain expansion project will satisfy his people because they want the project Continue Reading
Canadian National Railway Co. expects to set a record for crude-by-rail shipments next year as it vies with Canadian Pacific Railway Ltd. to dominate a booming market for the alternative Continue Reading
Oil prices in Canada plunged late last month, with the losses continuing throughout much of October. Canadian oil producers exposed to the low prices are now fetching around $40 to Continue Reading
The Prime Minister of Alberta, Rachel Notley, has called on the federal government in Ottawa to supply more rail cars to transport the province’s rising crude oil production to refineries Continue Reading
A natural gas pipeline explosion that occurred earlier this month near the city of Prince George will reduce supply to British Columbia by between 20 and 50 percent this winter, Continue Reading
