WINNIPEG — Manitoba Opposition New Democrats are promising to create a Crown corporation to improve internet and cellular service in northern and rural areas, if they win the next election in 2023.
The idea was one more than 20 resolutions passed at t…
By Robert Tuttle Feb 25, 2021 (Bloomberg) Alberta’s budget came with no provisions for investments that the Canadian province made in the Keystone XL pipeline, even after the project’s permit was canceled by U.S. President Joe Biden on his first day in office.“Currently, the Government of Alberta is working with TC Energy to explore all options … Read more
Reuters Feb 25, 2021 CALGARY — The province of Alberta on Thursday estimated its 2021/22 budget deficit will shrink to C$18.2 billion ($14.5 billion), as its economy starts to recover from the damage caused by the coronavirus pandemic. Alberta’s 2020/21 deficit stood at C$20.2 billion, compared with a C$24.2 billion deficit projected in August, as … Read more
‘We cannot immediately replace what was lost last year but Line 3 is making a major difference’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Minnesota businesses are stepping up to show their support for the Enbridge Line 3 Replacement Project. Photograph supplied for Canadian Energy Centre … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a seventh month in a row, but the rate of growth slowed in February even as oil prices rose to their highest since 2019. The oil and gas rig count, an early indicator of future output, rose five to 402 in … Read more
CALGARY, AB (February 26, 2021) – The Petroleum Services Association of Canada (PSAC) is pleased that the Government of Alberta is focused on measures to address the healthcare challenges of the ongoing pandemic and its impacts on the economy. The budget is also focused on ensuring that Alberta has a competitive advantage for business, capital … Read more
Feb 26, 2021 (Bloomberg) –Oil’s record start to 2021 was under pressure from a firming dollar and a selloff in bond markets that spooked investors in risky assets.Brent in London fell at the end of a week that saw the steepest decline in the Nasdaq 100 since the pandemic meltdown. Yet the global benchmark crude … Read more
Feb 25, 2021, (Bloomberg) Mark Carney, a leading figure behind this year’s global climate talks, has sparked concern among green advocates with recent remarks claiming the half-trillion-dollar asset manager where he works zeroed out pollution across its portfolio. His comments call into question what it takes to attain net-zero status.Carney is a former Bank of England governor … Read more
Feb 25, 2021, 17:01 ET Full year results reflect the resilience of Pembina’s diversified and highly contracted business; pre-pandemic adjusted EBITDA guidance achieved All financial figures are in Canadian dollars unless otherwise noted. This news release refers to certain financial measures that are not defined by Generally Accepted Accounting Principles (“GAAP”), including net revenue; adjusted … Read more
(TSX: AAV) CALGARY, AB, Feb. 25, 2021 /CNW/ – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to announce increased 2021 production guidance, reduced 2021 capital guidance, and 2020 year-end results and reserves highlights. Results from Advantage’s 2020 drilling program have exceeded expectations both in costs and well performance, positively impacting our 2020 reserves, financial outlook … Read more
February 25, 2021 16:46 ET | Source: NuVista Energy Ltd. CALGARY, Alberta, Feb. 25, 2021 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce the divestiture of its non-core Charlie Lake and Cretaceous Unit assets (the “Wembley Assets”) in the Wembley area, as well as selected water infrastructure assets (the “Infrastructure … Read more
February 25, 2021 | Source: Razor Energy Corp. CALGARY, Alberta, Feb. 25, 2021 (GLOBE NEWSWIRE) — Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to provide a summary of its 2020 year-end reserves evaluation and an updated operational outlook. The highlights and reserves summary below set forth Razor’s gross reserves at December 31, … Read more
Gemini Fabrication is excited to have the opportunity to participate as a Sponsor for International Women’s Day and the International Women’s Day Forum 2021 virtual event. We recognize the importance of a diverse and inclusive workplace and as a company we are committed to playing an active role in celebrating women’s achievements and increasing visibility. International … Read more
CALGARY — Imperial Oil Ltd. is cutting one billion barrels from its inventory of oilsands bitumen following a year marked by low oil prices and budget cutting amid the COVID-19 pandemic and a global price war between major oil producers.
In a regulato…
Partnerships between pipeline project and First Nations providing jobs, training, economic opportunity and environmental oversight By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Trans Mountain participates in a cultural ceremony with the Shxw’ōwhámél First Nation near Hope, B.C. Photograph courtesy Trans Mountain Communities are expanding as … Read more
CALGARY — Pembina Pipeline Corp. is reporting a $1.2 billion net fourth-quarter loss thanks mainly to $1.6 billion in non-cash after-tax impairment charges on its proposals to build an Alberta petrochemical plant and Oregon LNG export facility.
The Ca…
“Imagine being able to fly to site and see all the real-time data from your computer.” David Lod and Geoffrey Cann explored the future of the oil and gas industry in this morning’s livestream, sharing insights into the significant productivity and cost gains made possible by digital transformation. Didn’t have a chance to check out the Digital Oil … Read more
(Reuters) – Barclays raised its 2021 oil price forecast on Thursday, citing weaker than expected supply response from U.S. producers to higher prices and normalizing inventories after last week’s cold storm in Texas. The bank increased its 2021 Brent crude oil price outlook by $7 to $62 per barrel and West Texas Intermediate (WTI) crude … Read more
LONDON (Reuters) – Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook. Demand was 360 million tonnes last year, up slightly from 2019’s 358 million tonnes, despite volatility caused by lockdowns during the coronavirus pandemic. Global LNG … Read more
Feb 25, 2021 (Bloomberg) Norway’s $1.3 trillion wealth fund expects to keep its existing fossil-fuel holdings as the world’s biggest sovereign investor bets it can bring about change from within the industry to fight carbon emissions.“We have no further plans to exit fossil fuels,” Chief Governance and Compliance Officer Carine Smith Ihenacho said on Thursday, after … Read more
By Nathaniel Bullard Feb 25, 2021 (Bloomberg)Last week, I engaged in a thought experiment about the future of the American gas station once electric vehicles take over the road. My conclusion: the big highway rest stop is probably OK, as is the urban fuel oasis; it’s the suburban gas station that may be turning into something … Read more
By Kevin Crowley Feb 25, 2021 (Bloomberg) Exxon Mobil Corp. erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide reserves to depths never before seen in the company’s modern history.Exxon counted the equivalent of 15.2 billion barrels of reserves as of Dec. 31, down from 22.44 billion a year … Read more
By Alex Longley and Andres Guerra Luz Feb 25, 2021 (Bloomberg) Oil extended its rally to a new one-year high as the market weighed a tightening global supply outlook against indications prices may be overextended.Futures in New York rose almost 1% to the highest intraday since January 2020 after falling earlier on Thursday. The oil futures … Read more
CALGARY, AB, Feb. 24, 2021 /CNW/ – (TSX: PMT) – Perpetual Energy Inc. (“Perpetual”, or the “Company”) is pleased to release its fourth quarter and year-end 2020 financial and operating results and a summary of the Company’s year-end 2020 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. (“McDaniel”). A complete copy of Perpetual’s audited … Read more
CALGARY, AB, Feb. 24, 2021 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to report its operating and audited financial results for the quarter and year ended December 31, 2020. Selected financial and operating information is outlined below and should be read with Whitecap’s audited annual consolidated financial statements and related management’s discussion and analysis … Read more
February 24, 2021 | Source: Suncor Energy Inc. multilang-release CALGARY, Alberta, Feb. 24, 2021 (GLOBE NEWSWIRE) — Suncor today announced that Russ Girling will stand for election to the Suncor Board of Directors at the company’s next Annual General Meeting to be held on May 4, 2021. “With an extensive career in the energy industry spanning 35 years, … Read more
February 24, 2021 Realized 100% 1P and 133% PDP Reserves Replacement, with $2.65 and $5.06/BOE F&D Costs Achieved 2020 Production of 22,624 bopd Forecast 2021 Production of 28,000-30,000 bopd for Annual Growth of 24-33% Reduced Annual Operating and G&A Costs by $92 Million Achieved Company’s Best Safety Year in 2020: Zero Lost Time Incident Frequency … Read more
CALGARY, Alberta, Feb. 25, 2021 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and twelve months ended December 31, 2020 and to provide 2020 year end reserves information as evaluated by Sproule Associates Limited (“Sproule”). The Company’s … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 27 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
We invite you to attend the CAODC AGM & Virtual Town Hall! Where Zoom Virtual Event When March 26, 2021 10:30 AM MDT Why This year we are excited to welcome Alberta’s Premier, the Honourable Jason Kenney, as our guest speaker joining us for a fireside chat. Prior to becoming Premier in April 2019, he … Read more
OTTAWA — A new report suggests the economic impact of the pandemic led to a massive increase in federal aid to Canada’s oil patch.
But the annual inventory of fossil fuel subsidies published by the International Institute for Sustainable Development a…
February 24, 2021 Source: Tenaris S.A. The financial and operational information contained in this press release is based on audited consolidated financial statements presented in U.S. dollars and prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standard Board and adopted by the European Union, or IFRS. Additionally, this press … Read more
CALGARY, Alberta, Feb. 24, 2021 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX:EFX) (“Enerflex” or “the Company” or “we” or “our”), a leading supplier of products and services to the global energy industry, today reported its financial and operating results for the three and twelve months ended December 31, 2020. Summary Table of Fourth Quarter and Twelve … Read more
February 24, 2021 | Source: ClearStream Energy Services Inc. CALGARY, Alberta, Feb. 24, 2021 (GLOBE NEWSWIRE) — ClearStream Energy Services Inc. (“ClearStream”) (TSX: CSM) is pleased to announce several new project awards and contract renewals that were booked with major upstream, midstream and downstream energy companies across North America during the period from October 1, 2020 to the … Read more
Feb 24, 2021 (Bloomberg) Three of Europe’s largest oil companies spoke about fundamental shifts to their strategy amid the energy transition on the second day of International Petroleum Week. Equinor ASA’s boss Anders Opedal detailed efforts to reduce the carbon intensity of its oil and gas output, while his counterpart at BP Plc acknowledged investors aren’t yet … Read more
Reuters Feb 24, 2021 WINNIPEG — Trans Mountain Corp, a Canadian government corporation that operates an oil pipeline, has asked a regulator to keep the identities of its insurers private as environmental activists push them to drop coverage.Activists have stepped up pressure on banks and insurers to drop financing and insurance for fossil fuel companies, … Read more
Cross-border trade relationship critical to maintaining North American energy security By Lennie Kaplan and Mark Milke Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The Ambassador Bridge links Detroit, Michigan, USA with Windsor, Ontario, Canada. It is one of the busiest trade routes in North America. Getty Images photo Download the … Read more
VIRTUAL: Safe@Home Gala Feb. 27, 2021 7:00 p.m. MST (includes 7 different music artists performing) It’s FREE to View: You will be able to view the Gala here www.starsandspursgala.ca This year’s PSAC STARS & Spurs Gala supporting STARS Air Ambulance is virtual! There’s still time to get involved! The theme for this year’s gala is … Read more
CALGARY, Alberta, Feb. 24, 2021 (GLOBE NEWSWIRE) — Distinction Energy Corp. (formerly named Delphi Energy Corp.) (“Distinction” or the “Corporation”) is pleased to announce the closing of a brokered private placement and a non-brokered private placement (collectively, the “Offering”) of an aggregate of 265,331 special warrants of the Corporation (“Special Warrants”) issued at a price of $15.00 … Read more
February 24, 2021| Source: Baytex Energy Corp. CALGARY, Alberta, Feb. 24, 2021 (GLOBE NEWSWIRE) — Baytex Energy Corp. (“Baytex”) (TSX: BTE) reports its operating and financial results for the three months and year ended December 31, 2020 (all amounts are in Canadian dollars unless otherwise noted). “In 2020, we responded aggressively to the downturn brought on … Read more
CALGARY — Suncor Energy says former TC Energy CEO Russ Girling is returning to the energy producer and will stand for election to its board of directors in May.
The Calgary-based energy giant says Girling is well-known in the North American energy ind…
CALGARY — Federal government-owned Trans Mountain is asking the Canada Energy Regulator to keep secret the identities of the companies that provide insurance coverage for its pipeline system because of fears environmental activists will target them.
I…
According to recent polls, a majority of Canadians say that oil and gas need to be a part of Canada’s recovery and that supporting jobs in this area is necessary to kick start the economy. This sentiment takes place against the backdrop of a global economy that is decarbonizing, primarily via electrification, including by deploying … Read more
CALGARY, AB, Feb. 24, 2021 /CNW/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2020. Crescent Point recently announced an accretive acquisition of Kaybob Duvernay assets for $900 million (the “Acquisition”) that further enhances the Company’s balance sheet strength and sustainability, … Read more
CALGARY — The CEO of Crescent Point Energy Corp. says the company is poised to benefit from rising oil prices after two years of transformation through selling assets, cutting debt and reducing costs.
The Calgary-based company’s move last week to buy …
ExxonMobil is selling most of its drilling and exploration assets off the coast of the U.K. in the North Sea for more than $1 billion.
Exxon has heightened its focus on other oil rich regions, including the Permian Basin in the Southwest United States…
February 23, 2021| Source: Prairie Provident Resources Inc. CALGARY, Alberta, Feb. 23, 2021 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the results of our independent 2020 year-end reserves evaluation conducted by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2020 (the “Sproule Report”). … Read more
LONDON (Reuters) – Oil prices edged higher on Wednesday amid continued outages in the United States and a weaker dollar, but a surprise build in U.S. inventories last week capped gains. Brent crude futures gained 52 cents, or 0.8%, to $65.89 a barrel at 1109 GMT, after hitting a session low of $64.80. U.S. West … Read more
New report shows significant volume of investment in hydrogen projects as well as policy and funding support as industry enters 2021 200+ large-scale projects have been announced across the value chain, with a total value exceeding $300 billion 30+ countries have national hydrogen strategies in place, and public funding is growing A new report released … Read more
By Clay White and Frank Sapienza Thickness measurement data generated through the routine inspection program represents the largest source of data generated in the mechanical integrity department of a refinery. Gathering as much usable information from this data in a time efficient manner presents one of the greater challenges to plant inspectors and engineers. Some … Read more
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. M&A announcements are dominating the headlines in the oil and gas industry. Scoping … Read more
Presented by Yogi Schulz of Corvelle Consulting For many of us, the mere thought of “transformation” conjures up feelings of anxiety. Change is scary. Nevertheless, businesses are trending toward digitization — replacing time-consuming and error-prone manual processes with more efficient digital management practices. How can going digital benefit your company? When is the right time … Read more
FlareTech is an international provider of custom, turnkey flaring and combustion systems for almost every application. With over 30 years of industry experience, FlareTech’s staff are experts at developing and delivering high quality, innovative, efficient products at competitive prices. FlareTech is skilled and experienced in pilot ignition technology applications for utility, air-assisted, and fuel gas-assisted … Read more
Automated Visual Inspections for Industrial operations Is an environmentally, cost-effective, more efficient, and intelligent way to inspect sites and assets on any online device. With Osperity’s Automated Inspections for Industrial Operations, you gain instant access (either online or via a PDF document sent through email) to a single location that includes images taken from selected … Read more
IMI Critical Engineering, a world-leading provider of critical flow control solutions, announced that they have formed a strategic partnership with Intrepid Group Ltd. As an extension of the IMI Critical Engineering sales force, this strategic partnership is an excellent opportunity to leverage both IMI’s and Intrepid Group’s valve and control expertise and relationships to deliver … Read more
One of the programs we are most proud of at Q test is our Chief Inspection Service. Previously, clients had to call out separate entities for all of their different service needs, entailing multiple trips from multiple people to the same location. This resulted in extra cost and time at the expense of the client. … Read more
CALGARY, AB: The Canadian Taxpayers Federation opposed the federal government’s Impact Assessment Act, also known as the No More Pipelines Law, in the Alberta Court of Appeal today. “We need to be able to develop our resources to create jobs and get our neighbours back to work, and we also need these projects to help us … Read more
CALGARY, AB, Feb. 23, 2021 /CNW/ – Osum Oil Sands Corp. (“Osum” or the “Company”) announces today that, in light of the improved offer (the “Improved Offer”) announced by WEF Osum Acquisition Corp. and related entities (“Waterous” or “WEF”) on February 18, 2021, its board of directors has withdrawn its recommendation that shareholders reject the offer. Osum Orion, September … Read more
By Robert Tuttle Feb 23, 2021 (Bloomberg) U.S. President Joe Biden’s decision to cancel the Keystone XL pipeline is sparking renewed interest in shipping Canadian oil-sands crude by rail, and that comes with its own environmental risks.Cenovus Energy Inc. and Imperial Oil Ltd. have increasingly turned to trains to move their crude, with oil exports by … Read more
EDMONTON — Premier Jason Kenney says a recent bump in energy prices in the third quarter of the current budget is helping the bottom line as his government prepares to introduce its 2021-22 budget.
The budget deficit was on track to exceed $21 billion…
CALGARY — Trican Well Service Ltd. says an ongoing slump in Canadian oilfield activity linked to the COVID-19 pandemic resulted in lower revenue in the fourth quarter.
The Calgary-based well completion company says consolidated revenue from continuing…
Calgary, Alberta–(Newsfile Corp. – February 23, 2021) – Trican Well Service Ltd. (TSX: TCW) (“Trican” or the “Company“) is pleased to announce its annual results for 2020, the appointment of interim CFO and appointment of the Chairman of the Board. The following news release should be read in conjunction with Management’s Discussion and Analysis (“MD&A”), … Read more
CALGARY — The CEO of Gibson Energy Inc. says “clarity” about the future of the cancelled Keystone XL pipeline has prompted increased interest from potential customers in an expansion of its diluent recovery unit now under construction at the Hardisty …
CALGARY — A formalized takeover bid for Inter Pipeline Ltd. that matches an informal offer made about two weeks ago suggests that Brookfield Infrastructure Partners L.P. doesn’t expect a white knight to drive up the price, an analyst said Tuesday.
On …
By Elizabeth Low and Alex Longley Feb 23, 2021 (Bloomberg) Oil retreated from an earlier rally with investment banks and traders predicting the market can go significantly higher in the months to come. Futures in New York pared much of an earlier increase to $63 a barrel as the dollar climbed and equities slipped. Bank of … Read more
WASHINGTON/OTTAWA (Reuters) – U.S. President Joe Biden and Canadian Prime Minister Justin Trudeau will try on Tuesday to move past an early disagreement after Biden blocked the Canadian-backed Keystone XL pipeline and look to reset relations after the rocky years of Donald Trump. In his first bilateral meeting with a foreign leader since taking office … Read more
About Digital Marketing That DRIVES Action LEARN HOW TO LEVERAGE DIGITAL MARKETING & SALES AUTOMATION TO GROW YOUR ENERGY SERVICE BUSINESS The energy industry is going digital…fast…not only with new technologies but also with the way customers source information about your company and buy your products and services. In today’s digital world, referrals & word … Read more
Calgary, February 23, 2021 – Ryan Ferguson Young, former Vice-President of Sayer Energy Advisors, is pleased to announce the launch of Earth Horse Energy Advisors (“Earth Horse”). Earth Horse is an independent corporate advisory firm which focuses on the Western Canadian Sedimentary Basin. We offer various customized corporate advisory services, including the marketing of oil … Read more
WATCH: Was the Trudeau Government’s decision to ban tanker traffic off Northern B .C. really about protecting the environment? Or was it just another policy to landlock Canadian oil in their plan to “phase out” Canadian energy? Aaron Gunn met with maritime experts across Canada to uncover the facts about an industry most Canadians know … Read more
Feb 22, 2021 (Bloomberg) Trafigura Group sees oil markets firming in the coming months as most of the world emerges from lockdowns and production losses from the recent U.S. deep freeze add to a tighter supply outlook. “We have a strong market going into summer,” Ben Luckock, co-head of oil trading at the commodities trading giant, … Read more
February 22, 2021 | Source: Gibson Energy ULC All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, Feb. 22, 2021 (GLOBE NEWSWIRE) — Gibson Energy Inc. announced today its financial and operating results for the three months and fiscal year ended December 31, 2020. “Gibson proved very resilient through a challenging year for … Read more
By Geoffrey Cann Digital innovations are slowly unleashing the digital front line oil worker, but are the workers ready to deal with the change? The Digital Front Line Oil Worker Two recent interactions with managers in front line work in oil and gas prompted this week’s article. In the first instance, a corporate group asked … Read more
CALGARY, Alberta, Feb. 22, 2021 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) today responded to a unitholder’s recent assertion of the inadequacy of the exchange ratio in the definitive agreement to acquire all of the outstanding common units of TC PipeLines, LP (NYSE:TCP) (TCP or the Partnership) not … Read more
CALGARY — TC Energy Corp. says it has no intention of again sweetening its bid to buy out the other unitholders of TC PipeLines LP, a U.S. master limited partnership it operates, despite the vow of its largest non-affiliated investor to vote against t…
Tenaris is proud to participate as a Northern Lights sponsor of the 2021 PSAC STARS & Spurs Gala, which will be held virtually this year as a result of the pandemic. STARS is a privately funded helicopter air ambulance service, the only one that serves Western Canada, offering time, hope and life-saving transport to critically ill and … Read more
CALGARY — Brookfield Infrastructure Partners L.P. and its partners have formally launched a hostile bid to acquire Inter Pipeline Ltd., nearly two weeks after its public interest was rebuffed.
Brookfield says the offer to acquire the stake in Inter Pi…
CALGARY — Shares in Canadian energy retailer Just Energy Group Inc. are falling after it warned it may not be able to continue operating due to hundreds of millions of dollars in losses because of extreme winter weather in Texas over the past week.
In…
NEW YORK (Reuters) – Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as frozen pipes and power supply interruptions slow their recovery, sources said. The winter storm that … Read more
LONDON/HOUSTON (Reuters) – OPEC and U.S. oil companies see a limited rebound in shale oil supply this year as top U.S. producers freeze output despite rising prices, a decision that would help OPEC and its allies. OPEC this month cut its 2021 forecast for U.S. tight crude, another term for shale, and expects production to … Read more
LONDON (Reuters) – Oil prices rose on Monday as the slow return of U.S. crude output cut by frigid conditions served as a reminder of the tight supply situation, just as demand recovers from the depths of the COVID-19 pandemic. Brent crude was up 51 cents, or 0.8%, at $63.42 a barrel by 0945 GMT, … Read more
Haafiz Hasham, President and CEO of LiEP Energy Ltd. discusses energy transition, the lithium industry in North America and sustainability goals. To learn more about the Global Energy Show, or to register, please visit: www.globalenergyshow.com
Flare stacks can be found on almost any oil and gas installation as part of the waste gas system, and as a controlled vent for high volumes of combustible gases during an upset. By its nature, the pressure, volume flow and gas composition in a flare stack can differ significantly over short periods of time. … Read more
TRIAGE Addresses the Root-Cause of Pipeline Failures TRIAGE – integrity hazard classification and risk-optimized mitigation guidance is an innovative data service proven successful at addressing the root cause of pipeline failures by; 1) improving the characterization of the over-life corrosive environment to which pipelines are exposed; and 2) by aligning mitigation activities to the corrosive environment … Read more
Sky Eye Measurement is an “energy transfer solutions company” with manufacturing located in Alberta’s Oil and Gas heartland and over fifteen years of experience serving the energy industry. Today, we work with some of the largest producers in the world throughout North America. We manufacture and service a wide variety of energy transfer systems from … Read more
Gemini Fabrication has released the first episode in our mini-interview series. Come with us as we take you on a journey to meet some of the leaders and industry experts who help make Gemini Fabrication the #1 Fabricator in Western Canada. Find out from the inside why Gemini has continually set the bar for project delivery, … Read more
I recently wrote an article about why I love natural gas and what it (along with coal and oil) has done for the Canadian standard of living. Apparently however, I missed the memo about the urgent need to switch to wind, solar and other so-called “green” technologies because mankind is in imminent danger of self-destruction … Read more
Scovan to host 3rd annual International Women’s Day Forum live stream event. International Women’s Day celebrates the economic, cultural, and political achievements of women across the globe. The day focuses on unity, equality and advocacy. In celebration of International Women’s Day, Scovan is bringing together female industry leaders to participate in a virtual event to highlight … Read more
Canada’s drilling rig count is down 4 active drilling rigs according to data collected by Baker Hughes for the week ending February 19, 2021. From one week ago, Alberta rig counts decreased 7 to 111 and the Saskatchewan rig counts increased 2 to 35. Oil drilling decreased 1 to 100 and gas decreased 3 to … Read more
WASHINGTON — The catastrophic cold snap that paralyzed the electrical grid in Texas has opened up a new front in the age-old battle between green-energy champions and their fossil-fuel rivals.
One side sees the chance to build a new, fortified and mo…
EDMONTON — On Thursday it’s budget day in Alberta, a time that will cruelly and ironically remind residents that last year’s projected eye-popping $6.8-billion deficit was actually the good old days.
Since then, that deficit has tripled to $21 billion…
By Reuters Staff (Reuters) – U.S. energy firms this week cut the number of oil rigs operating for the first time since November as blistering cold and snow hit most of Texas, New Mexico and other big energy producing areas. The U.S. oil and gas rig count, an early indicator of future output, was unchanged … Read more
‘Axa, Zurich, and Swiss Re are divesting and de-insuring a major Canadian industry while helping autocracies and tyrannies stay in business’ By Mark Milke and Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A view of the insurance headquarters of AXA at Nanterre, northwest of the French capital Paris … Read more
The winter in Canada can be really cold and very snowy, yet indoors our homes are filled with a great deal of warmth and light! We aren’t always cognizant of just how important natural resources are in our daily lives, especially when it comes to providing for some of the basic needs of our families … Read more
Feb 20, 2021 (Bloomberg) Saudi Arabia and Russia are once again heading into an OPEC+ meeting on opposite sides of a crucial debate about the oil market.Riyadh is publicly urging fellow members to be “extremely cautious,” despite prices rebounding to a one-year high. In private, the kingdom has signaled it would prefer that the group broadly … Read more
By Tara Weber, BNN Bloomberg Western Correspondent As energy prices climb, the oil patch is getting back to work. The Canadian Association of Oilwell Drilling Contractors (CAODC) says rig activity is already higher than it previously anticipated for the first quarter of this year. The increase in activity is bringing with it another issue: concerns over … Read more
‘At the end of the day, First Nations like the fact that we could move heavy oil in a safe and effective manner’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A railyard in the foreground of a container ship departing from port. Getty Images photo … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 27 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
(Adds details on Heartland Petrochemical Complex, analyst comment) CALGARY, Alberta, Feb 19 (Reuters) – Canada’s Inter Pipeline Ltd said on Friday no decisions have been made as it initiates a strategic review of its options, a week after rejecting an unsolicited bid from its largest shareholder, Brookfield Infrastructure Partners. The Calgary-based company, whose assets include … Read more
Insurance companies Axa, Zurich and Swiss Re continue to invest in, insure countries that lack Canada’s freedoms By Lennie Kaplan and Mark Milke Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Download the PDF here Download the charts here Executive Summary Insurance companies Axa, Swiss Re, and Zurich versus Canadian oil and gas … Read more
‘Canadian companies are top of their game in terms of environmental standards, employee standards and innovation, and it’s not being considered at all’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The Toronto Stock Exchange (TSX) on Bay St. Getty Images photo The movement to discourage … Read more
CALGARY, AB, Feb. 19, 2021 /CNW/ – Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company”) is pleased to announce that it has entered into an amended and restated credit agreement with a syndicate of Canadian banks providing for a $300 million combined operating and syndicated credit facility due February 19, 2024 (“Amended Credit Facility”). The Amended Credit Facility replaces the Company’s prior … Read more
Feb 19 (Reuters) – TC PipeLines LP’s largest independent unitholder, Energy Income Partners, said on Friday it plans to vote against the $1.68 billion merger with Keystone pipeline owner TC Energy, saying the deal undervalues the company’s assets. Energy Income Partners has more than 10% stake, which makes it the largest ‘non-affiliated’ unitholder. It said … Read more
CALGARY — TC Energy Corp. says it is gradually bringing back workers on its Coastal GasLink pipeline project in B.C. after health authorities approved its plan to deal with risks of the COVID-19 pandemic.
The workforce fell from almost 3,700 people to…
CALGARY — The CEO of Inter Pipeline Ltd. says the Calgary-based company’s review of strategic alternatives announced Thursday could include the sale of its $4-billion Heartland Petrochemical Complex under construction near Edmonton and expected to ope…
By Sheela Tobben and Javier Blas Feb 19, 2021 (Bloomberg) The Texas oil patch is slowly restarting wells after the deep freeze that swept through the region shut a record amount of U.S. crude output.Marathon Oil Corp., Devon Energy Corp. and Verdun Oil Co LLC have begun using restored power from local grids or generators … Read more
By Sharon Cho and Alex Longley Feb 19, 2021 (Bloomberg) Oil fell for a second day as production slowly restarted in Texas and the White House said it would be willing to meet with Iran, potentially paving the way for more crude exports from the Persian Gulf nation.Futures in New York dropped toward $59 a barrel. Companies are … Read more
All financial information contained within this news release has been prepared in accordance with U.S. GAAP. This news release includes forward-looking statements and information within the meaning of applicable securities laws. Readers are advised to review the “Forward-Looking Information and Statements” at the conclusion of this news release. Readers are also referred to “Information Regarding … Read more
CALGARY, AB, Feb. 18, 2021 /CNW/ – A survey by the Canadian Association of Petroleum Producers (CAPP) of oil sands producers shows the increasing role of Indigenous suppliers to the industry. In 2019, about $2.4 billion was spent on procurement from Indigenous businesses; 16 per cent higher than in 2018 and 53 per cent higher than in 2017. The number … Read more
CALGARY — TC Energy Corp. says it expects to take a “substantive” charge when it reports its first-quarter results for 2021 due to the decision by U.S. President Biden to revoke the presidential permit for its Keystone XL pipeline.
The company couldn’…
VANCOUVER — The leader of a new Indigenous Advisory Committee at the Canada Energy Regulator says he wants to fix the system of natural resource development in the country that has previously treated First Nations, Inuit and Metis people as an “aftert…
National Coalition of Chiefs’ president on the state of the Trans Mountain pipeline As negotiations with the federal government continue toward potentially acquiring an equity stake in the Trans Mountain pipeline and its expansion, the Indigenous-led Project Reconciliation is fast-tracking another initiative. Stephen Mason, managing director with Project Reconciliation, said it will soon launch an up to $1-billion sovereign wealth fund that … Read more
Calgary-based Inter Pipeline Ltd. says it has initiated a review of strategic alternatives in response to a hostile takeover bid launched last week by its largest shareholder, Brookfield Infrastructure Partners LP.
It says it will evaluate options tha…
CALGARY, AB, Feb. 18, 2021 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline” or the “Company”) (TSX: IPL) announced today that, following the recently announced unsolicited expression of interest for the Company, the Board of Directors (the “Board”) has initiated a comprehensive review of strategic alternatives to maximize shareholder value (the “Strategic Review”). The Board has established a special committee … Read more
CALGARY, AB, Feb. 18, 2021 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) and TORC Oil & Gas Ltd. (“TORC”) (TSX: TOG) are pleased to announce that securityholders from both companies have voted to support the proposed business combination (the “Business Combination”) announced on December 8, 2020 to combine the two companies. On February 18, 2021, Whitecap and TORC held separate … Read more
CALGARY, AB, Feb. 18, 2021 /PRNewswire/ – Waterous Energy Fund (“WEF“) is pleased to announce that its subsidiary WEF Osum Acquisition Corp. (the “Offeror“) has improved its all-cash offer to acquire common shares (“Osum Shares“) of Osum Oil Sands Corp. (“Osum“). WEF has received the support of all three members of Osum’s special committee of independent board members … Read more
CALGARY, AB, Feb. 18, 2021 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced its financial and operating results for the three and twelve-month periods ended December 31, 2020. 2020 Highlights Inter Pipeline’s Heartland Petrochemical Complex (CNW Group/Inter Pipeline Ltd.) Related Documents VIEW PDF Inter Pipeline Announces 2020 Financial and Operating Results (CNW Group/Inter Pipeline Ltd.) Annual funds from … Read more
February 18, 2021 16:19 ET | Source: Razor Energy Corp. NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. CALGARY, Alberta, Feb. 18, 2021 (GLOBE NEWSWIRE) — Razor Energy Corp. (“Razor” or the “Company“) (TSXV: RZE) is … Read more
CALGARY — Private junior oilsands producer Osum Oil Sands Corp. says it is now recommending shareholders sell their investments after Waterous Energy Fund increased its bid by 25 per cent.
The target company says its independent board members and exec…
Feb 17, 2021 (Bloomberg) Total U.S. oil production has plunged by close to 40% — the most ever — as an unprecedented cold blast freezes well operations across the central U.S., according to traders and industry executives with direct knowledge of the operations.Crude output has now fallen by more than 4 million barrels a day nationwide, … Read more
EDMONTON — Alberta’s rural towns say property taxes that have gone unpaid by the province’s struggling oilpatch have tripled in two years.A survey released by the Rural Municipalities of Alberta says industry owes a total of $245 million.The associati…
February 18, 2021 07:00 AM Eastern Standard Time CALGARY, Alberta–(BUSINESS WIRE)–Seven Generations Energy Ltd. (TSX: VII) FOURTH QUARTER & FULL-YEAR 2020 HIGHLIGHTS Quarterly sales volumes averaged 190.1 Mboe/d (43% natural gas, 35% condensate, 22% other NGLs), delivering full-year volumes of 183.9 Mboe/d (43% natural gas, 35% condensate, 22% other NGLs) in-line with the company’s revised … Read more
Total 1P and 2P reserves and reserve life indices increased over 2019 Cardium asset reserves replaced 149 percent and 164 percent of associated 2020 production on a 1P and 2P basis, respectively Strong future growth potential with 18 percent increase in undeveloped reserve locations and 27 percent increase in Cardium specific locations Calgary, Alberta–(Newsfile Corp. … Read more
Increases common share dividend for the twenty-first consecutive year CALGARY, Alberta, Feb. 18, 2021 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced net income attributable to common shares for fourth quarter 2020 of $1.1 billion or $1.20 per share compared to net income of $1.1 billion or … Read more
Feb 18, 2021 (Bloomberg) Brent crude briefly surpassed $65 a barrel for the first time in a year as a cold blast that’s pummeled U.S. oil production escalated into a global supply shock.More than 4 million barrels a day of U.S. output — about 40% of crude production — is now offline, according to traders and … Read more
Gear Energy Ltd. Announces Fourth Quarter 2020 Operating Results and Year-End Reserves Summary CALGARY, AB, Feb. 17, 2021 /CNW/ – Gear Energy Ltd. (“Gear” or the “Company”) (TSX: GXE) is pleased to provide the following fourth quarter operating update and reserves summary to shareholders. Gear’s Consolidated Financial Statements and related Management’s Discussion and Analysis (“MD&A”) for the period … Read more
CALGARY — Crescent Point Energy Corp. says it has struck a deal to buy Alberta oil and gas producing assets from the Canadian arm of Royal Dutch Shell for $900 million.
The Calgary-based producer says it will pay $700 million in cash and issue 50 mill…
VANCOUVER — Teck Resources Ltd. is again writing down part of its stake in the Fort Hills oilsands mine in northeastern Alberta operated by partner Suncor Energy Inc.
The Vancouver-based miner reported Thursday a net fourth-quarter loss of $464 millio…
By David Yager February 17, 2021 Had they not been locked in their homes, to read the news you’d think Albertans would have been celebrating in the streets. On February 8 Energy Minister Sonya Savage announced the province’s decision to withdraw changes to a 1976 policy protecting large areas of the eastern flank of the … Read more
CALGARY — Canadian oil and gas producers are banking higher profits as unusually severe winter weather sidelines U.S. rivals this week and drives up demand and prices for their products.
But analysts say that while the higher prices are providing a ne…
CALGARY, AB, Feb. 17, 2021 /CNW/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce that it has entered into an agreement (the “Agreement”) with Shell Canada Energy (“Shell”), an affiliate of Royal Dutch Shell plc, to acquire Shell’s Kaybob Duvernay assets in Alberta (the “Assets”) for $900 million (the “Acquisition”). The total consideration consists of $700 … Read more
CALGARY, Alberta, Feb. 17, 2021 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present the results and in-depth analysis of its independent reserve report effective December 31, 2020. The evaluation encompassed 100% of Peyto’s reserves and was conducted by InSite Petroleum Consultants (“InSite”). The year 2020 marks the … Read more
February 17, 2021 18:16 ET | Source: Distinction Energy Corp. CALGARY, Alberta, Feb. 17, 2021 (GLOBE NEWSWIRE) — Distinction Energy Corp. (“Distinction” or the “Company”) is pleased to announce its commitment to participate as to 50% in a $335 million acquisition, including $15 million in contingency payments based on future commodity prices, entered into by Kiwetinohk Resources Corp. (“Kiwetinohk”) … Read more
CALGARY, AB, Feb. 17, 2021 /CNW/ – Royal Dutch Shell plc, through its affiliate Shell Canada Energy (“Shell”), has reached an agreement with publicly listed Canadian energy company Crescent Point Energy Corp. (“Crescent Point”) to sell its Duvernay shale light oil position in Alberta, Canada for a total consideration of $707 million (C$900 million). The transaction has an effective date of January 1, 2021. The consideration … Read more
Year-end 2020 debt reduced nearly $500 million from mid-year 2020 2021 debt reduction target increased 25% to $1.25 billion including second half 2020 Multi-year debt target issued: $4.5 billion of total debt by year-end 2022 Company signs agreement to sell its Duvernay asset for $263 million Company generated significant non-GAAP Free Cash Flow for third consecutive year Strong well performance and realized prices … Read more
NOT FOR DISTRIBUTION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. CALGARY, Alberta, Feb. 17, 2021 (GLOBE NEWSWIRE) — Spartan Delta Corp. (“Spartan” or the “Company“) (TSXV:SDE) is pleased to announce that, as a result excess demand, it has increased the size of its previously announced … Read more
BRUSSELS (Reuters) – Most of the world’s planned hydrogen projects and the biggest chunk of related investments this decade are expected to be in Europe, an industry report said on Wednesday, as the continent races to scale up the low-carbon fuel to meet climate goals. The European Union has made hydrogen a key plank in … Read more
HOUSTON (Reuters) – The U.S. deep freeze will wreak havoc on oil and gas production for several days if not weeks, according to industry experts, as companies deal with frozen equipment and a lack of power to run operations. Texas produces more oil and natural gas than any other U.S. state, and its operators, unlike … Read more
Feb 17, 2021 (Bloomberg) Saudi Arabia urged fellow members of the OPEC+ oil alliance to remain cautious as they prepare to consider further output increases.Crude prices have rebounded to a one-year high above $60 a barrel in New York as fuel demand recovers and the 23-nation OPEC+ coalition constricts supply. Still, the ongoing pandemic poses a … Read more
By Andres Guerra Luz and Grant Smith Feb 17, 2021 (Bloomberg) Oil dipped amid reports that Saudi Arabia will reverse unprecedented production cuts as prices recover.Futures erased gains in New York on Wednesday after Dow Jones reported that Saudi Arabia plans to boost oil output in the coming months, citing unnamed advisers to the kingdom. While … Read more
(Bloomberg) —Companies including the venture arms of BP Plc and Chevron Corp. invested $40 million in a startup that aims to use the fossil fuel industry’s drilling experience to expand a technology that harvests low-carbon energy from heat below the earth’s surface. Eavor Technologies Inc. plans to expand geothermal power beyond places like Iceland that … Read more
CALGARY, Alberta (Reuters) – Canadian natural gas producers are bouncing back faster from the COVID-19 pandemic than battered U.S. shale firms, putting them in position to boost net gas exports to the United States for the first time in five years. The opportunity for Canadian firms to take a piece of the market back from … Read more
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. With major mergers dominating the headlines of the oil and gas industry, we … Read more
Becht Europe B.V. and EPS Customer Solutions B.V. have come together to better serve Refining, Petrochemical, and Renewable customers in the European, Middle Eastern, and African regions. Becht has built a strong reputation for providing engineering solutions, plant services, software tools, and learning and development resources to over 95% of the refineries in the US … Read more
CALGARY, AB, Feb. 16, 2021 /CNW/ – Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (“Journey” or the “Company“) reports that it has today agreed to a further extension to the closing date for the previously announced disposition (see press release dated October 30, 2020) of its Countess area assets. In conjunction with this extension, Journey has also executed an amendment … Read more
CALGARY, AB, Feb. 16, 2021 /CNW/ – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) today confirms that the Company’s Board of Directors has approved a fully-funded 2021 capital budget of between $65 to $75 million, along with the associated guidance, and provides an operational update. Operational Update Through 2020, Bonterra invested approximately $44 million1 in capital projects, a substantial reduction … Read more
Calgary producer Spartan Delta Corp. says it has agreed to buy private rival Inception Exploration Ltd. and two packages of oil and gas assets in northwestern Alberta for a total of $148 million in cash and shares.The company, founded last spring thro…
February 16, 2021 | Source: Spartan Delta Corp. CALGARY, Alberta, Feb. 16, 2021 (GLOBE NEWSWIRE) — Spartan Delta Corp. (“Spartan” or the “Company“) (TSXV:SDE) is pleased to announce three strategic acquisitions, executing on its stated acquisitive growth strategy within western Canada. Total consideration for the three acquisitions (the “Acquisitions“) is approximately $147.9 million, subject to certain closing adjustments. The … Read more
LONDON/DUBAI/MOSCOW (Reuters) – OPEC+ oil producers are likely to ease curbs on supply after April given a recovery in prices, OPEC+ sources said, although any increase in output will be modest as producers are wary of fresh setbacks in the battle against the pandemic. The Organization of the Petroleum Exporting Countries and allies, known as … Read more
Osum Advises Shareholders of the Potential for a Superior Bid CALGARY, AB, Feb. 15, 2021 /CNW/ – Osum Oil Sands Corp. (“Osum” or the “Company”) wishes to advise shareholders that its special committee of independent directors (the “Special Committee”) is currently in discussions that could lead to a superior offer to the current takeover bid of $2.40 per share … Read more
Feb 16, 2021 (Bloomberg) Oil held gains in New York after rising above $60 a barrel for the first time in a year as a deepening energy crisis in the U.S. disrupted crude production and forced the shutdown of some of the nation’s biggest refineries.As much as 1.7 million barrels a day of oil output has halted, legal … Read more
(Bloomberg) Canadian Prime Minister Justin Trudeau’s government is examining the merits of carbon tariffs, a policy measure to tax goods from countries with weaker climate laws that’s won the support of Boris Johnson.The U.K. prime minister wants Group of Seven countries to discuss the idea of imposing levies on imported goods made in places that don’t … Read more
By Yogi Schulz It’s time to retire the Alberta Petroleum Marketing Commission (APMC). Its cost, avoidable complexity, and redundancy can be eliminated for the financial benefit of all Albertans. Retiring the APMC is a terrific Cutting Red Tape opportunity for the Alberta government. Here’s what the APMC does and why we don’t need it anymore. … Read more
Click here to download this case study as a pdf High-profile environmental liability cases and recent bankruptcies have resulted in a higher awareness of asset retirement obligations (ARO) among banks and investors. It’s not enough to examine the potential profit of an acquisition or investment opportunity. The potential liability must also be known before an … Read more
Features: Search lines from location on a map or by query function Categorized Shooting (Parameter) information and ownership Link Data storage locations, AFE and other documents by line or by survey Add or delete lines as required Reporting and mapping functions to help with asset and divestiture activity Sort data by ownership type Individual client … Read more
EDMONTON — Alberta and the federal government say another $400 million in funding is available to help clean up inactive oil and gas sites in the province.
The money includes $100 million for clean up in Indigenous communities.
The rest of the money i…
(Bloomberg) –Brookfield Asset Management Inc. plans to raise at least $7.5 billion for a new climate-focused fund, as the Canadian investment firm builds out an ESG business led by former Bank of England Governor Mark Carney. The Brookfield Global Transition Fund seeks to take advantage of accelerating interest in solutions to the global climate crisis, … Read more
We are excited to share details about the upcoming PSAC STARS & Spurs Safe@Home Gala. The theme for this year’s virtual gala is our Canadian values shared by our energy industry and STARS – an identity supporting the collective good from our hearts. The PSAC STARS & Spurs Safe@Home Gala will continue its legacy of community commitment. PSAC will … Read more
Cody Battershill, President of Canada Action discusses being an energy advocate, Keystone XL and the importance of Canadian energy. To learn more about the Global Energy Show, or to register, please visit: www.globalenergyshow.com
As Exclusive Distributors for Valvitalia Group in Canada & Mexico, Current Flow Control Ltd. is looking for companies to work with as Sales Representatives in our goal of growing the Valvitalia brand in markets across Canada and Mexico. Valvitalia is a respected International brand of high-quality flow control products, supplying an extensive line of equipment … Read more
An analyser array supports corrosion management through continuous insights into changes in crude quality By ALBERT MOURIS and ETIENNE HUNT Hobré Instruments KEVIN CLARKE CREAS Energy Consulting To maximise profits and remain competitive, refineries regularly reoptimize their crude slate with changing market conditions. As a result, crudes change frequently, and the plant is driven towards … Read more
Feb 14, 2021 (Bloomberg) Oil hit a fresh 13-month high as cold weather in Texas may see supply curbed from America’s largest shale patch.U.S. West Texas Intermediate futures surged as much as 2.2% in early Asian trade, rising above $60 a barrel for the first time in more than a year. Brent crude in London rallied … Read more
WASHINGTON — A senior adviser to two former U.S. presidents delivered a stark message Friday to Canadians hoping for the resurrection of the Keystone XL pipeline: get over it.
The project is gone and not coming back, said John Podesta, who was White …
(Reuters) – Enbridge Inc on Friday forecast higher costs for its long-contested Line 3 pipeline replacement project, citing regulatory and permitting delays, winter construction and COVID-19 protocols, among other reasons. Line 3, built in the 1960s, ships crude from Alberta to U.S. Midwest refiners, and carries less oil than it was designed for because of … Read more
(Reuters) – Royal Dutch Shell’s LNG Canada export project in British Columbia has won approval from health officials for construction to ramp back up with improved coronavirus protection measures. Work at the site was curtailed last month by an order from the Provincial Health Officer which applied to five major industrial projects in British Columbia, … Read more
CALGARY, Alberta (Reuters) – ARC Resources Ltd’s C$2.7 billion ($2.1 billion) bid to buy Seven Generations Energy Ltd will create the largest oil and gas producer in Canada’s Montney region, and may re-energize development in one of North America’s top shale plays. The combined company will have more financial strength to develop its 1.1 million … Read more
CALGARY — A court has been told that a man leading an inquiry into alleged foreign-funded anti-Alberta energy campaigns should be allowed to continue his work because accusations of bias are unfounded and his investigation is in the public interest.
…
Canada’s drilling rig count is up 5 active drilling rigs according to data collected by Baker Hughes for the week ending February 12, 2021. From one week ago, Alberta rig counts increased 5 to 118 and the Saskatchewan rig counts stayed at 33. Oil drilling increased 6 to 101 and gas decreased 1 to 75.
CALGARY — Enbridge Inc. says its profits rose in the fourth quarter, despite increasing costs of its Line 3 project.The company reported fourth-quarter earnings attributable to shareholders of $1.78 billion, or 88 cents per common share, compared with…
Feb 12, 2021 (Bloomberg) Oil slipped below $58 a barrel in New York as a recent rally fizzled on strength in the dollar. Futures fell for a second session, after their longest rally in two years. The enduring pandemic continues to crimp fuel consumption from China to the U.S., with the International Energy Agency cutting its demand forecast for … Read more
By Robert Tuttle (Bloomberg) The Chinese drilling giant recently blacklisted by the U.S. has led efforts to clean up the Canadian oil sands’ image as a global warming culprit.Cnooc Ltd. slashed the rate of carbon dioxide released from its Long Lake oil sands site by a third in the eight years ended 2019, according to … Read more
By Kait Bolongaro Feb 12, 2021 (Bloomberg) Prime Minister Justin Trudeau is rejecting calls for a more combative response to U.S. protectionism, hoping a conciliatory approach will mend relations damaged during Donald Trump’s presidency. Trade Minister Mary Ng said in an interview this week she is focusing her efforts with the new Biden administration on mutual … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 27 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
Calgary, AB – February 12, 2021 – Universal Geomatics Solutions Corp. (UGS) is pleased to announce the commitment to the Progressive Aboriginal Relations (PAR) program. Established in 2001, the PAR program includes an online management and reporting tool that supports participating companies’ efforts towards progressive improvement in Aboriginal relations, and a certification program that confirms … Read more
By Grant Smith Feb 11, 2021 (Bloomberg) The re-balancing of global oil markets remains “fragile” amid weaker estimates for demand and a recovery in supplies, the International Energy Agency said.The IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels a day as the pandemic continues to limit travel and economic activity. It boosted … Read more
SINGAPORE/NEW YORK/LONDON (Reuters) – Global oil and fuel prices are picking up as demand returns to pre-pandemic levels amid easing coronavirus lockdowns in key countries like China and India and signs of increasing road travel in several countries. Gasoline prices in Asia, Europe and the United States all scaled 1-year highs this week, while benchmark … Read more
Resumed construction shows commitment to reducing GHG intensity, analyst says By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Suncor Energy has resumed work on a $1.4 billion project to replace coke boilers with natural gas-fired cogeneration units. The project will add to Suncor’s cogeneration capacity, including … Read more
Those who think delayed and cancelled pipelines have made no difference to Canada are off by $9 billion to $15 billion By Mark Milke and Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A welder works on a TC Energy pipeline. Photograph courtesy TC Energy Oil and natural pipelines … Read more
OTTAWA — Conservative Leader Erin O’Toole urged the acting American ambassador to Canada to tell Washington to preserve the Line 5 pipeline to the United States.
O’Toole told Katherine Brucker that he was disappointed by President Joe Biden’s decision…
U.S. drillers this week added oil and natural gas rigs for a 12th week in a row, the longest streak of additions since June 2017, as crude prices hit their highest in more than a year. The oil and gas rig count, an early indicator of future output, rose five to 397 in the week … Read more
By Simon Casey and Robert Tuttle Feb 11, 2021 (Bloomberg) Inter Pipeline Ltd. surged as Brookfield Infrastructure Partners LP made a hostile C$7.1 billion ($5.6 billion) offer following the failure of previous talks to produce a friendly deal.The bidder, an affiliate of Brookfield Asset Management Inc., said Wednesday it will offer C$16.50 per share in cash … Read more
View PDF Vancouver, British Columbia, February 10, 2021 – Hemisphere Energy Corporation (TSX-V: HME) (“Hemisphere” or the “Company”) is pleased to provide an update on corporate activities and its Southern Alberta oil assets. Although 2020 had considerable challenges, Hemisphere made several important achievements throughout the year. Focus remained on debt reduction through limiting capital expenditures, … Read more
VANCOUVER — The latest round of applications is now open under a $100-million fund aimed at cleaning dormant oil and gas wells in British Columbia.
B.C. Energy Minister Bruce Ralston says the second half of the funding is set to be dispersed in the co…
LONDON — Royal Dutch Shell, one of the multinationals that has defined the oil industry, is slowly turning away from the fossil fuel that made its fortune over the decades but also worsened a global climate crisis.
The company said Thursday that its p…
Feb 11, 2021 (Bloomberg) Oil pared declines alongside a broader market rally as investors assess the International Energy Agency’s bleaker outlook for global crude demand. Futures in New York earlier dropped as much as 1% on Thursday. Equities strengthened as a decline in initial jobless claims showed a somewhat stronger labor market, while a weaker U.S. … Read more
LONDON (Reuters) – World oil demand in 2021 will rebound more slowly than previously thought, OPEC said on Thursday, adding to a series of downgrades as the impact of the pandemic lingers. Demand will rise by 5.79 million barrels per day (bpd) this year to 96.05 million bpd, the Organization of the Petroleum Exporting Countries … Read more
Advises shareholders to take no action CALGARY, AB, Feb. 11, 2021 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline” or the “Company”) (TSX: IPL) is responding to the news release by Brookfield Infrastructure Partners L.P. (“Brookfield”) regarding Brookfield’s intention to make an unsolicited offer to acquire all of the outstanding common shares of the Company not already owned by Brookfield. Related Documents … Read more
February 10, 2021 16:06 ET | Source: Birchcliff Energy Ltd. CALGARY, Alberta, Feb. 10, 2021 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its unaudited 2020 year-end and fourth quarter financial and operational results and highlights from its independent reserves evaluation effective December 31, 2020. Jeff Tonken, President and Chief … Read more
Calgary, Alberta–(Newsfile Corp. – February 10, 2021) – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company“) is pleased to provide an operations update and to announce its 2020 year-end reserves and 2021 guidance. Operations Update Pine Cliff’s fourth quarter 2020 production averaged 19,130 Boe per day, weighted 91% to natural gas. This … Read more
ARC Resources Ltd. Reports Fourth Quarter and Year-end 2020 Financial and Operational Results and Year-end 2020 Reserves Results CALGARY, AB, Feb. 10, 2021 /CNW/ – (TSX: ARX) ARC Resources Ltd. (“ARC” or the “Company”) today reported its fourth quarter and year-end 2020 financial and operational results as well as its year-end 2020 reserves results. ARC’s audited consolidated financial statements and … Read more
CALGARY — ARC Resources Ltd. and Seven Generations Energy Ltd. announced a merger agreement that will see the two companies combine their operations in the Montney region.
Under the terms of the proposal, Seven Generations shareholders will receive 1….
Feb 10, 2021 (Bloomberg) The numbers are simply astounding. Governments, corporations and other groups raised a record $490 billion last year selling green, social and sustainability bonds. A further $347 billion poured into ESG-focused investment funds—an all-time high—and more than 700 new funds were launched globally to capture the deluge of inflows. And 2021 is shaping up to be just as frothy. … Read more
On behalf of the esteemed Canada Gas & LNG Governing Body, dmg::events have made the decision to postpone the event to late August following federal and provincial safety guidelines surrounding COVID-19. To ensure the safety of all participants, the event will be hosted in a hybrid format, enabling exhibitors and delegates from around the world … Read more
CALGARY — Brookfield Infrastructure Partners LP has made an unsolicited offer to take Inter Pipeline Ltd. private with a proposal to buy the stake in the company it does not already own.
The offer implies a value for Inter Pipeline of $7.1 billion.
…
CALGARY — Less than a month after U.S. President Joe Biden nixed the Keystone XL pipeline as part of a sweeping climate plan, another pipeline with implications for Canada is in the crosshairs of a U.S. politician.
However, as talk surrounding the pot…
CALGARY, AB, Feb. 10, 2021 /CNW/ – (TSX: ARX) (TSX: VII) ARC Resources Ltd. (“ARC”) and Seven Generations Energy Ltd. (“Seven Generations”) today announce a strategic combination of the two premier Montney producers. The combined company will continue to focus on significant free funds flow(1) generation through a responsible and disciplined approach to development while creating superior and enduring value for all … Read more
CALGARY — An environmental law charity is to ask a judge today to shut down Alberta’s inquiry into the purported foreign funding of anti-oil campaigns.
Ecojustice argues in its written submissions that the inquiry was formed for an improper purpose, …
CALGARY — Estimated costs for a proposed Alberta natural gas liquids pipeline put on hold last year amid the COVID-19 pandemic and commodity price uncertainty have jumped by $300 million to $1.6 billion, Keyera Corp. reported Wednesday.Shares in the C…
Reuters Feb 11, 2021 CALGARY — Brookfield Infrastructure Partners L.P. said on Wednesday it has offered to take Canada’s Inter Pipeline Ltd private for about C$13.5 billion ($10.6 billion) including debt, as it seeks to benefit from rebounding oil and gas demand. Brookfield, which owns and operates assets in the utilities, transport and storage sectors, … Read more
CALGARY — Precision Drilling Corp. reported a fourth-quarter loss of $37.5 million as its revenue fell 46 per cent compared with a year earlier.
The contract drilling company says the loss amounted to $2.74 per share for the quarter ended Dec. 31 comp…
CALGARY, AB, Feb. 10, 2021 /CNW/ – Keyera Corp. (TSX: KEY) (“Keyera”) announced its 2020 year-end financial results today, the highlights of which are included in this news release. The entire news release can be viewed by visiting Keyera’s website at www.keyera.com. To view the MD&A and financial statements, visit either Keyera’s website or Keyera’s filings on SEDAR at www.sedar.com. … Read more
CALGARY, Alberta, Feb 9 (Reuters) – The Canadian province of Alberta is providing rapid COVID-19 tests for a pilot program at Suncor Energy Inc’s main oil sands plant and a nearby First Nations and Métis community, the government said on Tuesday. Suncor, Canada’s second-largest oil producer, is taking part in the pilot project led by … Read more
February 10, 2021 07:30 ET | Source: Pipestone Energy Corp. Updated Pipestone Capital Program Map: Refer to map CALGARY, Alberta, Feb. 10, 2021 (GLOBE NEWSWIRE) — (PIPE – TSX) Pipestone Energy Corp. (“Pipestone” or the “Company”) is pleased to provide an update on its production and operations, as well as report its year-end 2020 independent reserves evaluation prepared by McDaniel & Associates … Read more
February 10, 2021 06:01 ET | Source: Precision Drilling Corporation CALGARY, Alberta, Feb. 10, 2021 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and … Read more
By Saket Sundria and Alex Longley Feb 10, 2021 (Bloomberg) Oil rose again to extend the longest run of gains in two years, with reports of falling U.S. crude stockpiles giving the latest signal of tightening global supplies. Some of the biggest moves in the past day have come at the front of the futures curve. … Read more
CALGARY — A judge is to hear arguments this week over whether Alberta’s public inquiry into the purported foreign funding of environmental charities is a valid defence of the province’s ailing oil industry or an attempt to silence dissent.
Court of Q…
By Reuters Staff WASHINGTON (Reuters) – The head of the U.S. Senate energy committee, Joe Manchin, on Tuesday urged President Joe Biden to reverse his opposition to the Keystone XL pipeline, saying the project provides union jobs and is safer than transporting the oil via trucks and trains. Biden revoked a permit for the pipeline … Read more
CALGARY, Alberta/ MONTREAL, (Reuters) – Canada sees an opportunity in U.S. President Joe Biden’s push to achieve a carbon-free electrical grid by 2035: hydropower exports. With Canadian crude exports taking a hit from Biden’s decision to scrap the Keystone XL oil pipeline, Ottawa is increasingly focused on sales of clean energy. Around 60% of the … Read more
Reuters. Feb 9 (Reuters) – Trans Mountain has begun the restart process for construction on an expansion project for the oil pipeline, the Canada Energy Regulator (CER) said on Monday, about two months since it was halted due to safety-related issues. “The CER will continue its regular oversight of all aspects of the project, including … Read more
By Kristen Becht Now that 2020 is behind us, let’s focus on making improvements in 2021! Becht invites you to try a feature of our BechtCONNECT service: Unit Health Assessments. Becht will assist you in targeting operational and margin optimization with a focus on cost-effective solutions. We’re approaching Unit Health Assessments in a new way … Read more
The Parker R-Max II combines the unique flexibility and functionality of a modular stream switching valve for proven application reliability and performance. Parker Patented Technology for double block and bleed stream selection Fully swept – Low Internal volume Numerous functional designs available: (normally open, normally closed, internal fast loop, diverter assembly, ARV module, lab sampling … Read more
Integrate with Other Systems Aimsio integrates with other software systems, eliminating the need for data entry from one platform to another. Here’s a list of software we integrate with: Want more info? The ability to integrate with your software depends heavily on which version you are using. To verify your version is compatible, select the … Read more
As Exclusive Distributors for the Valvitalia Group in Canada and Mexico, Current Flow Control Ltd. is pleased to announce that we have approved and are working with Canada’s only Indigenous owned, fully integrated valve solutions provider, True North Valve Solutions. CFC’s world class Valvitalia inventory is now located at True North’s 120,000 sq foot facility in Edmonton. CFC’s … Read more
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like Wednesday Word to the Wise delivered directly to your inbox, subscribe here. In this week’s Wednesday Word to the Wise, we examine how much consolidation has … Read more
Environmentalists are urging Toronto to join 13 other Ontario city councils that want the province to stop using natural gas for electricity generation. There’s an old saying that in a democracy, the people deserve to get what they vote for, good and hard. It’s tempting to ask Ontario’s electricity system operator to give these cities … Read more
EDMONTON — The Alberta government says it has completed a plan to manage oilsands development in an area near the Fort McKay First Nation that supports traditional land uses and maintains its ecological integrity.
The announcement follows an Alberta C…
REGINA — A judge has ruled that the University of Regina must provide information to one of its professors about who is funding research into the oil and gas industry.
“Ultimately, requiring that funding identity information be disclosed is in keeping…
LONDON (Reuters) – Oil prices scored their seventh straight session of gains for both benchmark contracts on Tuesday, hitting their highest since late January 2020, as supply cuts by major producers and optimism over a recovery in fuel demand support energy markets. Brent crude futures for April gained 41 cents, or 0.7%, to $60.97 a … Read more
Feb 9, 2021 (Bloomberg) One of the world’s largest producers of the key raw material for solar panels is planning a massive expansion amid surging demand for clean energy. Xinte Energy Co. will build a polysilicon project able to produce about a third of current global production in Inner Mongolia, it said Monday in a filing … Read more
PARIS (Reuters) – France’s Total posted better than expected earnings in the fourth quarter as oil prices stabilised, and said it would change its name as part of a push to diversify and grow renewable power and electricity production. The French oil and gas major, which like rivals suffered in 2020 as fuel consumption tumbled … Read more
By Verity Ratcliffe Feb 9, 2021 (Bloomberg) Qatar hired engineers for a planned $29 billion expansion of its capacity to produce liquefied natural gas, seeking to cement its position as the world’s biggest supplier of the fuel.While Australia, the U.S. and other producers have been ramping up output, Qatar’s LNG capacity has stayed mostly flat for … Read more
February 09, 2021 06:00 ET | Source: Husky Energy Inc. CALGARY, Alberta, Feb. 09, 2021 (GLOBE NEWSWIRE) — Husky Energy Inc., a wholly-owned subsidiary of Cenovus Energy Inc., will be filing today its 2020 fourth quarter and annual audited consolidated financial statements, Management’s Discussion & Analysis and Annual Information Form with Canadian securities regulatory authorities. These documents … Read more
February 09, 2021 06:01 ET | Source: Cenovus Energy Inc Steam generators at Cenovus’s Foster Creek project in northern Alberta Steam generators at Cenovus’s Foster Creek project in northern Alberta. The project uses a process called steam-assisted gravity drainage (SAGD) to produce oil, which involves drilling into the reservoir and injecting steam at a low pressure to … Read more
CALGARY — Cenovus Energy Inc. reported a loss in the final quarter of 2020 compared with a profit a year earlier.
The company says it lost $153 million or 12 cents per share for the quarter ended Dec. 31 compared with a profit of $113 million or nine …
Explosion-protected cameras from Axis brings 30+ years of network-video experience and provide you with visibility inside of your hazardous areas. They’re certified for potentially combustible environments according to all applicable international and local standards. And they offer unparalleled protection of your hazardous areas, safeguarding from intrusion, monitoring operations and keeping a watchful eye on your … Read more
When taking on a new contract, factoring your receivables can be a viable option to ensure you have the funds in place to complete the project. A new project can quickly drain your bank account when payroll expenses need to be paid biweekly and operating and supply costs are required to be paid upon startup, … Read more
Building on our significant experience operating in the north, Challenger Geomatics has formed strong relationships with many local Indigenous partners, and we are pleased to be celebrating, alongside our Inuvialuit partners, this important milestone. Inukshuk Geomatics is an Indigenous-owned company providing professional geomatics services in the Inuvialuit Settlement Region of the Northwest Territories. This includes the … Read more
Fraser Institute As the Trudeau government prepares its 2021 budget, the first in almost two years, policymakers in Ottawa must make important decisions about Canada’s taxes and how best to promote economic growth and prosperity, particularly in light of the COVID recession. Facing a large budget deficit due to record levels of spending, the government … Read more
(Reuters) – Amazon.com Inc has ordered hundreds of trucks that run on compressed natural gas as it tests ways to shift its U.S. fleet away from heavier polluting trucks, the company told Reuters on Friday. The coronavirus pandemic caused delivery activity to surge in 2020, with truck volumes exceeding 2019 levels on average while passenger … Read more
DETROIT (Reuters) – Ford Motor Co on Thursday more than doubled the amount of money it plans to invest on electric and autonomous vehicles, to $29 billion, even as it posted a fourth-quarter net loss of $2.8 billion. The No. 2 U.S. automaker also said the global semiconductor chip shortage could lead to a 10% … Read more
Reuters Natural gas prices across North America soared on Monday as homes and businesses cranked up their heaters to escape a blast of arctic air and snow moving from Canada to the U.S. Midwest. “This blast of cold air will likely settle in for multiple days to come,” meteorologists at AccuWeather said. High temperatures in … Read more
Canadian Energy Network There is no doubt that Keystone XL’s cancellation was a massive gut punch to the oil and gas industry and Canada’s security. After a battle of over 12 years, legal challenges, and billions in up-front investment to finally have pile laid across the border looked to be a success, but instead, it … Read more
February 08, 2021 16:01 ET | Source: PrairieSky Royalty Ltd. CALGARY, Alberta, Feb. 08, 2021 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce its fourth quarter (“Q4 2020“) and year-end operating and financial results for the period ended December 31, 2020, which demonstrate the benefits of a low-cost, high … Read more
By Geoffrey Cann ESG and digital transformation pressures are hammering the fortunes of oil and gas, but digital can also help accelerate the ESG agenda. I call it Digital ESG. (part 2) This is part two of a two part article, written initially as a speech specifically for a webinar hosted by Finboot (a European blockchain middleware … Read more
Summary Budget deficits and increasing debt have become serious fiscal challenges facing the federal and many provincial governments recently. Since 2007/08, combined federal and provincial net debt (inflation-adjusted) has doubled from $1.0 trillion to a projected $2.0 trillion in 2020/21. In 2020/21, combined federal and provincial net debt is expected to equal 91.6% of the … Read more
CALGARY — Cathedral Energy Services Ltd. says industry veteran Tom Connors has been tapped to replace president and CEO Scott MacFarlane next month as he retires from the Calgary-based directional and horizontal drilling company.Connors has worked in …
CALGARY — Shares in Paramount Resources Ltd. are on the rise after it reported oil and gas production that beat its own guidance and announced it had sold non-core assets for $80 million.
The Calgary-based company says its fourth-quarter sales average…
CALGARY, AB, Feb. 8, 2021 /CNW/ – Paramount Resources Ltd. (“Paramount” or the “Company”) (TSX: POU) is pleased to report that fourth quarter 2020 sales volumes averaged approximately 73,000 Boe/d (42 percent liquids), ahead of guidance of 70,000 Boe/d to 72,000 Boe/d. December 2020 sales volumes averaged approximately 78,000 Boe/d (43 percent liquids). At Karr, fourth quarter sales volumes benefitted … Read more
Pipeline tunnel permits encouraging but critical system not out of the woods against Michigan governor’s actions By Deborah Jaremko An Enbridge pump station in Flamborough, Ontario. Getty Images photo New Permits for Enbridge to replace a pipeline on the lakebed of Michigan’s Straits of Mackinac with an underground utility tunnel are a step forward, but there’s … Read more
By William Mathis and Laura Hurst Feb 8, 2021 (Bloomberg) Oil majors agreed to pay a hefty premium to develop the next generation of major British offshore wind farms after BP Plc and Total SE won contracts in an auction ahead of many of the utilities that have dominated the space until now.The Crown Estate auctioned … Read more
By Saket Sundria, Serene Cheong and Alex Longley Feb 8, 2021 (Bloomberg)Oil in London rose above $60 a barrel for the first time in more than a year as stockpiles tighten and the demand outlook improves amid the global rollout of Covid-19 vaccines.It’s another milestone in a stellar comeback from the biggest demand destruction in … Read more
By Michael Bellusci (Bloomberg) A unit of Hong Kong billionaire Li Ka-shing’s empire has purchased two wind power facilities in the Okanagan region of British Columbia, Canada. CK Group’s Canadian Power Holdings Inc. will acquire 100% of Okanagan Wind, which generates 30 megawatts of power from the two wind farms, according to a statement. The … Read more
‘While the rest of the world sped ahead in getting LNG capacity online, Canada stalled’ By Mark Milke and Ven Venkatachalam Construction continues on LNG Canada’s marine terminal and material offloading facility, December 2020. Photograph courtesy LNG Canada Over the past several years, a plethora of naysayers have reflexively opposed the extraction and export of natural gas from … Read more
By Robert Tuttle The arrival of pipeline construction crews last year buoyed business for restaurants in Oyen, Alberta. On the snowy prairies of western Canada, a tiny town is grappling with the fallout from the 12-year saga of the world’s most controversial oil pipeline. On his first day as U.S. president, Joe Biden signed an executive order rescinding TC Energy Corp.’s … Read more
Zac Trolley, Co-Founder of Lunar Water Supply Company discusses diversifying Alberta’s economy by utilizing the expertise of Alberta’s oil and gas industry to extract resources from the moon. To learn more about the Global Energy Show, or to register, please visit: www.globalenergyshow.com
Petronim Projects has been busy this year developing cavern projects in Canada for liquids storage and Mexico for multiple products including natural gas. Lonni has shown he is up to the task. Lonni Swanson is a Professional Engineer (APEGA) with over 20 years technical experience. Focused for the past decade on salt cavern storage and … Read more
Latest round of funding enables digital visualization software provider VEERUM to offer its transformative technology on a global scale CALGARY, Alberta – February 3, 2021 – VEERUM, a rapidly growing software-as-a-service (SaaS) provider in the industrial asset visualization space, is pleased to announce a $7.4 million Series A funding round led by BDC’s Industrial Innovation … Read more
Digitization and digitalization have become industry buzz words as companies look to convert manual paper-based processes to digital ones for the benefits of lowering costs and improving the efficiency of their day-to-day business activities. While the terms are often used interchangeably, Gartner defines digitalization as “the use of digital technologies to change a business model … Read more
Agreement Life Cycle Best Practices Presented by Matt Kopycinski Thursday February 25, 2021 | 2:00pm – 3:00pm CDT Join Pandell’s own Matt Kopycinski for a free one-hour webinar that will deliver: An end-to-end process overview and best practices for energy asset A&D A discussion of quality control measures that are key to reliable data integrity … Read more
Epscan Industries: Four decades of exceptional service British Columbia-based oil and energy provider Epscan Industries is a family company with a unique structure that allows it to offer expertise and resources like a major industrial contactor, while maintaining a small business, personal level of service. Epscan’s Director of Business Development and Co-Owner Shane Stirling holds … Read more
Gemini Fabrication is very proud to announce we have been awarded a large scale project with one of our tier 1 clients; a major player in the Canadian Resources and Energy sector! Having this project move forward is such a fantastic announcement and is a great story for the Canadian Oil & Gas Industry. This is something that benefits the Alberta economy, which is … Read more
We offer a unique approach to Contract Drilling services, which results in unbelievable synergies and efficiencies. I’m Wade Wondrasek, CEO of Jomax Energy Services, and this video is for you if you’re looking for a reliable, results-driven, and innovative Drilling Contractor. Learn more about Jomax Energy Services by visiting www.jomax.ca
Canada’s drilling rig count is down 3 active drilling rigs according to data collected by Baker Hughes for the week ending February 5, 2021. From one week ago, Alberta rig counts decreased 1 to 113 and the Saskatchewan rig counts decreased 1 to 33. Oil drilling decreased 3 to 98 and gas stayed 76.
THE WORLD’S ONLY DIRECT TO CLOUD AREA MONITOR Introducing the industry’s first cloud-connected area gas monitor with cellular and satellite connectivity. Built to last in the field with a strong rugged design, 100+ day battery life and cloud-connected technology for streamlined data collection and reporting, your team and worksite have never been so protected. Wherever … Read more
CALGARY, AB, Feb. 5, 2021 /CNW/ – Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (“Journey” or the “Company“) reports that its previously announced disposition (see press release dated October 30, 2020) of its Countess area assets has been mutually deferred with the purchaser to a new closing date of February 16, 2021. In addition, an amendment to the credit agreement … Read more
(Bloomberg) One year after the first glimmers of the catastrophe awaiting global oil markets — from deserted Chinese cities to grounded jets — crude is staging a remarkable turnaround.The crisis triggered by the deadly coronavirus was the worst the petroleum industry has ever seen. Fuel demand crashed by a fifth, prices slumped below zero, producers fought … Read more
Canada still has chance to enter burgeoning market with demand for liquified natural gas set to rise in Asia By Ven Venkatachalam and Mark Milke Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A man fishes in front of a liquefied natural gas (LNG) tanker berthed at a gas fired thermal … Read more
(Bloomberg) The oil-rich Canadian province that was hit hard by Joe Biden’s move to kill the Keystone XL pipeline is considering seeking compensation from the U.S. through an old free-trade rule that’s still in place.Alberta, which spent C$1.5 billion ($1.2 billion) to help jump start construction of the project, may resort to a North American Free Trade … Read more
CALGARY — TransAlta Corp. says the CEO who supervised its transition away from a provincially focused provider of coal-fired power to an international utility with natural gas and renewable power generation plans to retire at the end of March.
The Cal…
(Reuters) – U.S. drillers this week added oil and natural gas rigs for an 11th week in a row for the first time since June 2017 as crude prices hit pre-pandemic highs. The U.S. oil and gas rig count, an early indicator of future output, rose by eight to 392 in the week to Feb. … Read more
CALGARY, Feb. 4, 2021 /CNW/ – Osum Oil Sands Corp. (“Osum” or the “Company”) wishes to update shareholders on matters related to the hostile bid for the Company announced by Waterous Energy Fund (“Waterous” or “WEF”) on November 2, 2020 (the “Hostile Bid” or “WEF Offer”). Specifically, Osum anticipates: The results of the independent valuation will be available to be … Read more
EIA outlook projects oil imports will rise along with domestic production By Deborah Jaremko An aerial view shows the Shell Carson Distribution Complex, which distributes fuel throughout the Southern California region. Getty Images photo Oil and gas will continue to dominate US energy consumption through 2050, according to the latest outlook from the US Energy Information Administration (EIA). … Read more
Feb 5, 2021 (Bloomberg) Oil rose toward $60 a barrel in London as supplies continue to tighten while the demand outlook improves with the roll-out of coronavirus vaccines.Brent climbed for a sixth day as it closed in on a level last reached in February 2020, before Covid-19 upended global energy markets. Crude stockpiles tied to … Read more
Feb 5, 2021 (Bloomberg) Norway’s push to electrify everything from transport to heating and industry has pushed one of the hungriest power consumers in the world to even higher records. On Thursday morning between 8 a.m. and 9 a.m., five million Norwegian consumers used the same amount of power as twice as many inhabitants in neighboring … Read more
Feb 5, 2021 (Bloomberg) The solar industry has been on a tear. Several stocks in the sector hit all-time highs last month. Investors seem eager for more solar companies to go public. But is this surge more sustainable than prior booms?Earlier boom times ended painfully. Several renewables companies went public in 2014 and 2015—or spun off … Read more
Curtis Bellows Sales & Business Development Manager Canada & International EnergyNow is pleased to welcome Curtis Bellows to the EnergyNow team. Curtis has taken on the role of Sales & Business Development Manager – Canada & International with responsibilities related to the company’s Canadian, U.S. and international energy markets. Curtis has led a successful career … Read more
CALGARY — The CEO of Suncor Energy Inc. says it will not increase capital spending this year despite higher oil prices, instead vowing to spend any increases in free cash flow on debt repayment and share buybacks.
The Calgary-based oilsands and refini…
CALGARY, Alberta, Feb. 04, 2021 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT) is pleased to announce the results of its annual independent reserves assessment as at December 31, 2020 and to provide an operational update. The financial and operational information contained below is based on the Company’s unaudited expected results for … Read more
CALGARY, Alberta, Feb. 04, 2021 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (“STEP”) and Universal Chemical Solutions, Inc. (“UCS”) are pleased to announce they have entered into an agreement that will facilitate the delivery of post-production stimulation services to energy producers working in the Eagle Ford Shale, Permian Basin, Niobrara-DJ Basin and Bakken Formation. Single … Read more
(Reuters) – Canada’s second-biggest oil company, Suncor Energy Inc, said on Thursday it had started a third-party safety review, after three contract workers died in two separate mining accidents. Chief Executive Mark Little said the review would focus on mining operations, which are one of the ways the company extracts crude from Alberta’s oil sands. … Read more
Feb 4, 2021 (Bloomberg) The Bank of England said the U.K. economy is heading for a rapid pickup in light of a bold vaccination effort, a sign that the stifling grip of the coronavirus crisis on growth may finally start to ease.Despite lowering its outlook for the year, the central bank sounded an optimistic note … Read more
Feb 3, 2021 (Bloomberg) Oil extended gains after closing at the highest level in more than a year as declines in U.S. and Chinese crude stockpiles added impetus to a rally driven by tightening global supplies.Futures in New York climbed to trade above $55 a barrel. The American Petroleum Institute reported crude inventories fell by 4.3 … Read more
CALGARY, AB, Feb. 3, 2021 /CNW/ – Waterous Energy Fund (“WEF”) addresses the continued efforts taken by Osum Oil Sands Corp. (“Osum”, or the “Company”) to obstruct the ability of Osum’s shareholders to achieve liquidity through WEF’s offer (the “Bid”, or the “Offer”) as outlined in Osum’s press release on February 1, 2021. WEF Reaffirms the Strong Shareholder Support … Read more
multilang-release Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for production volumes … Read more
EDMONTON — Alberta Premier Jason Kenney is getting some unsolicited advice from the co-founder of the United Conservative Party: fire yourself as the intergovernmental affairs minister.
Brian Jean says Kenney’s “fight everyone” approach is not getting…
CALGARY — Canadian oilsands and refining giant Suncor Energy Inc. is reporting a fourth-quarter net loss of $168 million or 11 cents per share, compared with a net loss of $2.34 billion or $1.52 in the same period of 2019.
The company says the loss in…
The closest anyone in the phone call got to Keystone was an oblique reference to ‘strengthening North American energy security’ The Canadian Press Kamala Harris, flanked by her husband Doug Emhoff, is sworn in as the 49th US Vice President by Supreme Court Justice Sonia Sotomayor on January 20, 2021, at the US Capitol in … Read more
For 27 years, the Petroleum Services Association of Canada has been bringing industry leaders together to support STARS, raising more than $17 million through the PSAC STARS & Spurs Gala. Your past support helps to ensure STARS can be there for the next patient in need. AIR While the traditional gala format is not be … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 27 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
Major oil and gas companies spent $1.6 billion in 2019 to help reduce environmental footprint, $400 million more than previous high By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The control room at Cenovus’ Foster Creek oil sands project. Photograph courtesy Cenovus Energy Canada’s oil and … Read more
Today I have a conversation with Scott Mussbacher of Vista Projects. Vista is an energy engineering firm that helps companies transform their operations through new digital technologies. Today we discuss that change initiative, how digital and innovation is coming to energy, and how Vista is operating in that… Duration: 32:10 Check out my book, ‘Bits, Bytes, and Barrels: … Read more
Latest round of funding enables digital visualization software provider VEERUM to offer its transformative technology on a global scale CALGARY, Alberta – February 3, 2021 – VEERUM, a rapidly growing software-as-a-service (SaaS) provider in the industrial asset visualization space, is pleased to announce a $7.4 million Series A funding round led by BDC’s Industrial Innovation … Read more
By Elizabeth Low and Alex Longley Feb 3, 2021 (Bloomberg) Oil extended gains after closing at the highest level in more than a year as declines in U.S. and Chinese crude stockpiles added impetus to a rally driven by tightening global supplies. Futures in New York climbed to trade above $55 a barrel. The American Petroleum … Read more
Dale Swampy, a member of the Samson Cree Nation in Maskwacis, Alta., is president of the National Coalition of Chiefs, discusses the current state of the Trans Mountain Pipeline and the importance of it after Keystone XL cancelled its expansion project. https://www.bnnbloomberg.ca/commodities/video/national-coalition-of-chiefs-president-on-the-state-of-the-trans-mountain-pipeline~2129518
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. Following a hampered 2020 drilling season due to both a global pandemic and … Read more
Can you identify areas where different damage mechanisms may occur? Do you know what the corrosion looks like? Becht’s API 571 course will help train you to identify, as well as, provide strategies for inspection and mitigation for addressing the different damage mechanisms. The API-571 Damage Mechanism in the Refining Industry course is directed toward all plant … Read more
Westech Industrial Ltd. (“Westech’) and Total Combustion Inc. (“TCI”) are excited to announce that Westech Industrial is now the exclusive distributor for TCI’s clean combustion products for fixed installations and rental services in the Canadian industrial market. Westech and TCI’s business relationship dates back several decades when the two companies worked together in product development … Read more
Register: https://www.enverus.com/evolve-2021/ About: After a complete year of dealing with COVID-19-related challenges and the recent cancellation of the Keystone pipeline it’s clear that industry leaders need to come together to collaborate over the outlook of the industry, trends that will drive investability and strategize to achieve success in 2021 and beyond. EVOLVE is a virtual … Read more
RHK provides reliable and sustainable solutions for your essential operations. We design, manufacture, and service hydraulic cylinders for customers globally. For thirty years we have developed an adaptive engineering and production process to provide a turnkey solution for industry’s toughest jobs. Equipment manufacturers demand a performance product with minimal downtime required for maintenance. In addition, … Read more
Interpreting In-Line Inspection Data to Help Eliminate Unnecessary Digs In-line inspection (ILI) tools are a rapidly evolving technology for ensuring the integrity of pipelines that are susceptible to crack anomalies. Several vendors offer ultrasonic crack-detection (UTCD) tools that can be used to detect and size cracks in liquid pipelines, while electromagnetic acoustic transducer (EMAT) tools … Read more
The increasing complexity and higher drilling cost of horizontal wells demand research and development of real time as well as post-analysis drilling software in the oil and gas industry. The weight on bit (WOB) is a measurement of downward force applied to the formation by the drill string while drilling. In an extended reach horizontal … Read more
Campaigns threatening critical projects raise risk of chasing investment from regions with high ESG standards By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A labourer works on a section of Trans Mountain pipeline expansion project. Photograph courtesy Trans Mountain Despite growing global demand, anti-oil and gas … Read more
by Cody Battershill Connect with Cody on Linkedin HERE Canadians are accustomed to watching our American friends and business partners pretty closely. It comes with sharing a border with an economic powerhouse ten times our size. On the other hand, most Americans lack much more than a superficial knowledge of our energy sector, often assuming … Read more
With all of the challenges of 2020, ExxonMobil focused on clamping down on expenses and managed to bring its full-year spending down nearly $10 billion from the year before.
Spending for the year totalled $21.4 billion, which included $4.8 billion in …
LONDON (Reuters) – Oil prices rose more than 2% on Tuesday, hitting near 12-month highs after major crude producers showed they were reining in output roughly in line with their commitments Brent crude was up $1.27, or 2.3%, at $57.62 a barrel by 1320 GMT, its third straight day of gains and the highest levels … Read more
CALGARY — Sagging fuel demand due to lockdowns to deal with a second wave of the COVID-19 pandemic is again cutting into volumes and returns at refineries at Imperial Oil Ltd. after a recovery last fall, CEO Brad Corson said Tuesday.
“While the third …
By Geoffrey Cann ESG and digital transformation pressures are hammering the fortunes of oil and gas, but digital can also help accelerate the ESG agenda. I call it Digital ESG. (part 1) This is part one of a two part article, written initially as a speech specifically for a webinar hosted by Finboot (a European blockchain middleware … Read more
Monday, Feb. 1, 2021 President Joe Biden’s decision to pull the plug on the Keystone XL pipeline is another punch to the gut for Alberta’s economy, but it’s also a good wake up call and provides us with some crucial lessons. The first lesson is straight forward: we need politicians to let businesses build pipelines … Read more
By Grant Smith Feb 1, 2021 (Bloomberg) OPEC and its allies can celebrate their success in steadying world oil markets when they gather this week. But the coalition will soon be faced with some tough choices.Last month’s pledge by Saudi Arabian Energy Minister Prince Abdulaziz bin Salman to slash production by a further 1 million barrels a day has buttressed … Read more
(Reuters) – There are numerous large U.S. and Canadian oil and natural gas pipelines in progress, but many have been delayed in recent years due to legal and regulatory battles, while others have been scuttled as costs rose. Here are the primary projects still in play, and a couple of recently canceled projects: MOUNTAIN VALLEY … Read more
Gap between the hostile bid and the value of Osum’s shares has widened Independent valuation underway Corporate sale process shows promise for a superior offer to the hostile bid WEF threatens to deprive shareholders of the right to realize a higher price WEF has not met its minimum tender condition Shareholders should NOT tender their … Read more
LONDON (Reuters) – Royal Dutch Shell is betting on its expertise in power trading and rapid growth in hydrogen and biofuels markets as it shifts away from oil, rather than joining rivals in a scramble for renewable power assets, company sources said. Shell and its European rivals are seeking new business models to reduce their … Read more
NEW YORK (Reuters) – Environmentalists and labor unions that threw their support behind U.S. President Joseph Biden now find themselves on the opposite sides of a battle over the construction of big pipeline projects between Canada and the United States. The United States is the world’s largest producer of oil and gas. Biden’s administration aims … Read more
By Elizabeth Low and Alex Longley Jan 31, 2021, 4:48 PM – Updated on Feb 1, 2021, 6:49 AM Word Count: 389 (Bloomberg) —Oil rose, following back-to-back weekly declines, as broader markets rallied.With headline prices largely range-bound over the past couple of weeks, the more significant market moves have been in the structure of the oil futures curve. Brent’s second-month … Read more
CALGARY — The commissioner of Alberta’s inquiry into the funding of oil and gas industry critics says a deadline extension will allow more time for the inquiry to get responses from the people it names.
The inquiry headed by Steve Allan was to have co…
PHA is a subjective form of risk assessment: results are driven by the experience and knowledge of the team and facilitator. According to studies, Risk Alive® has found an average of 67% of risks go undiscovered at any given site. And, in addition to missing scenarios, different sites commonly assign different severity and likelihood rankings creating inconsistencies … Read more
“As we grew, our existing databases could not meet the company’s needs,” said Sask. Chief Inspector Kim Bachek. “We needed something that could scale up to handle more data, more users and workflows to support MOC and preventative maintenance.” -Whitecap Resources Inc. About Whitecap Whitecap is a clean Canadian energy company. In 2020, it produced … Read more
VEERUM and Eye-bot have prepared a joint solution to accelerate digital adoption in the energy industry. More than ever, asset owners need a way to deliver current site conditions to asset stakeholders while travel restrictions impact site access. Eye-bot’s industry leading data capture solution provides high quality data capture for a variety of use cases in the … Read more
Ranger 3D Imaging uses the latest in 3D scanning equipment and the most comprehensive 3D modeling, engineering, and analysis software available. We provide in-house analysis by our inspectors and engineers in accordance with applicable codes and standards including the American Petroleum Institute (API). Ranger 3D Imaging provides 3D laser scanning, imaging and 3D modeling on … Read more
Global Energy services provided professional in-vehicle solutions for all fleet and personal applications. With safety, time management and communication with your field staff and office a priority, Global Energy will upfit your vehicle with the latest technology customized to your specific needs. From hands free kits, GPS systems, to laptop mounts, Global Energy’s professional technicians … Read more
WHO WE ARE FlareTech is an international provider of custom, turnkey flaring and combustion systems for almost every application. With over 30 years of industry experience, FlareTech’s staff are experts at developing and delivering high quality, innovative, efficient products at competitive prices. FlareTech is skilled and experienced in pilot technology applications for utility, air-assisted, and … Read more
By Vista Projects You might be tired of reading about digital transformation in oil and gas. For years now, the energy sector has heard about the many benefits to cost, schedule, and quality that digital transformation can bring to enterprises. This sector, however, isn’t really known for its ability to pivot on dimes. On Deloitte’s … Read more
Canada’s drilling rig count is up 2 active drilling rigs according to data collected by Baker Hughes for the week ending January 29, 2021. From one week ago, Alberta rig counts decreased 2 to 114 and the Saskatchewan rig counts increased 4 to 34. Oil drilling increased 2 to 98 and gas stayed 76.
By David Yager January 27, 2021 It’s been a long time coming but the official release date is only days away – January 31, 2021. That’s when a report from the high profile and controversial inquiry into foreign funding of efforts to stop the expansion of Alberta’s oil sands and construction of oil export pipelines … Read more
TRAVERSE CITY, Mich. — Michigan’s environmental agency said Friday it has approved construction of an underground tunnel to house a replacement for a controversial oil pipeline in a channel linking two of the Great Lakes.
The decision, a victory for E…
CALGARY — Ottawa says it is referring the impact assessment of a Suncor Energy Inc. oilsands mine extension in northern Alberta to an independent review panel.
Minister of Environment and Climate Change Jonathan Wilkinson says the review is in the pub…
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ENERGYNOW FEATURE: Why Energy Policy Is Becoming a Women’s Issue Across Canada