June 30, 2022 Oil prices are expected to stay above $100 a barrel this year as Europe and other regions struggle to wean themselves off Russian supply, a Reuters poll showed on Thursday, though economic risks could slow the climb. A survey of 34 economists and analysts forecast Brent crude would average $106.82 a barrel … Read more
NEW YORK (AP) — The OPEC oil cartel and allied producing nations decided Thursday to boost production of crude by an amount that will likely do little to relieve high gasoline prices at the pump and energy-fueled inflation plaguing the global economy….
Jun 30, 2022 (Bloomberg) Canada’s expansion suffered a minor setback last month after a robust start to the year, driven by a drop in oil production.Preliminary data show gross domestic product contracted by 0.2% in May as output slid in oil and gas, manufacturing and construction sectors, Statistics Canada reported Thursday in Ottawa. That followed a … Read more
The OPEC+ coalition ratified an oil-production increase that completes the return of supplies halted during the pandemic, while deferring discussions on its next move for another day. The 23-nation group led by Saudi Arabia rubber-stamped plans to add 648,000 barrels a day in August, restoring the final tranche of the 9.7 million barrels a day … Read more
(Bloomberg) The world is heading for a “turbulent period” as tightening supplies of liquefied natural gas and oil exacerbate a global energy crunch, Shell Plc Chief Executive Officer Ben van Beurden said. Speaking in Singapore, the CEO painted a bleak picture of an energy supply that will struggle to replace large swathes of Russian oil … Read more
By Alex Longley Jun 30, 2022 (Bloomberg) Oil is heading for the first monthly decline since November as OPEC+ ministers prepare to gather to discuss the group’s supply policy.West Texas Intermediate futures traded near $110 a barrel after closing almost 2% lower on Wednesday. OPEC+ is expected to rubber-stamp an increase in supply for August, but focus is rapidly … Read more
(Bloomberg) Every year, energy supermajor BP Plc performs a much-needed service for economists, analysts and long-term planners everywhere with its annual Statistical Review of World Energy. Published since the 1960s, it’s a trove of data on energy production and consumption, power generation, trade flows and other aspects of today’s energy system. The publication always rewards a close look at both … Read more
WE’RE BACK!…BETTER THAN EVER LIMITED GENERAL TICKETS AVAILABLE After a Covid Break, It’s Time to Saddle Up and Mingle Again! The 22nd, 23rd & 24th (Combined) – 2022 Big Guns Stampede Breakfast WE’RE BACK!…BETTER THAN EVER! Tuesday, July 12th! ** WITH A NEW VENUE** THE WILDHORSE SALOON (Back to the site of the Original Big … Read more
Gillette, WY, June 23, 2022 – RigER Inc., a leading oil and gas software provider, announced a major update to its oilfield services software with significant enhancements – RigER 9.5 Gillette. What is RigER? RigER oil and gas software allows supervisors, administrators, field workers, and office staff to manage oilfield assets easily. RigER oilfield software … Read more
Blanket divestment from oil and gas companies ‘counterproductive’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The business leader responsible for nearly $540 billion of Canadian pension investment has no plan to sell off interest in companies just because they are involved in oil and gas. The … Read more
FREDERICTON — New Brunswick’s premier says a liquefied natural gas facility in Saint John could be modified to reverse the flow and help reduce Europe’s reliance on fossil fuels from Russia.
Blaine Higgs told reporters Wednesday that the Saint John LN…
With global inventories steadily falling and spare capacity eroding, the oil market resembles a geological fault line in which stress is quietly accumulating and will eventually be relieved by an earthquake of as yet unknown magnitude. The most likely stress relief will come from a deceleration in oil consumption as a result of a recession … Read more
OTTAWA — New federal regulations to force down the greenhouse gas emissions from gasoline and diesel will cost Canadians up to 13 cents more per litre at the pump by 2030.
An impact analysis of the Clean Fuel Regulations published Wednesday estimates …
Summary Macron tells Biden that UAE, Saudi can barely raise oil output OPEC, OPEC+ begin 2 days of policy meetings LONDON/SINGAPORE, June 29 (Reuters) – Oil prices gained for a fourth straight session on Wednesday with tight supply worries offsetting concerns about a weaker global economy. Brent crude futures for August were little changed at … Read more
Jun 28, 2022 (Bloomberg) A three-day Group of Seven summit hosted by Germany ended on Tuesday, with leaders backing a plan to discuss how to cap energy prices and pledging to support Ukraine indefinitely.Leaders will have the opportunity to resume talks on defense and Russia’s invasion at a NATO summit in Madrid. As they make … Read more
Jun 28, 2022 (Bloomberg) A three-day Group of Seven summit hosted by Germany ended on Tuesday, with leaders backing a plan to discuss how to cap energy prices and pledging to support Ukraine indefinitely.Leaders will have the opportunity to resume talks on defense and Russia’s invasion at a NATO summit in Madrid. As they make their … Read more
PRESENTATION: Radicle Innovation Presentation ARTICLE: 7 Ways Alberta Oil & Gas Producers can Earn Carbon Credit Revenue What is Energy Innovation Month? Energy Innovation Month is a month-long promotional campaign that will feature some of the latest and greatest innovation, technology, and research from experts across the energy sector.
PRESENTATION: Linde Services Canada Inc. Innovation Presentation ARTICLE: The IN2ERT Platform – Accelerated Purging and Cleaning Service What is Energy Innovation Month? Energy Innovation Month is a month-long promotional campaign that will feature some of the latest and greatest innovation, technology, and research from experts across the energy sector.
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. XI Technologies looks at expiring land because it can provide useful business … Read more
LONDON, June 29 (Reuters) – OPEC and OPEC+ begin a series of two-day meetings on Wednesday with sources saying chances of a big policy change look unlikely this month. At its last meeting in early June OPEC+ decided to speed up production cuts and to raise output each month by 648,000 barrels per day (bpd) … Read more
For decades to come, all forms of energy will be required, including hydrocarbons and Canada’s oil sands play an important role in our energy future. The industry is leading change through innovation and has come together to drive down GHG emissions to net zero as well as reaching other environmental goals. Canada’s oil sands are well … Read more
Germany is in talks with Canada over options for a liquefied natural gas (LNG) terminal on Canada’s east coast for export to Europe, a German government official told Reuters on Tuesday. In May, Canadian Natural Resources Minister Jonathan Wilkinson said the Canadian government was in discussions with the companies behind two proposed east coast LNG export facilities … Read more
Not for distribution to U.S. news services or for dissemination in the United States CALGARY, Alberta, June 28, 2022 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration and production company focused on developing assets in southern Saskatchewan, is pleased to announce that our first helium well, HEI 06-12-006-05W3M (“HEI-1”), was … Read more
CALGARY, Alberta, June 29, 2022 (GLOBE NEWSWIRE) — Prospera Energy Inc. (“Prospera” or the “Corporation“) (PEI:TSX-V; GXRFF:OTC; FRA:OF6B) wishes to provide its fourth bi-weekly default status report (“Status Report“) under National Policy 12-203 Management Cease Trade Orders (“NP 12-203“), pursuant to which Prospera issued its original default announcement indicating that the filing of its annual audited financial … Read more
It’s apparent even today that most of the on-site heat treatment industry is still using outdated procedures and equipment. This causes production inefficiencies, which consistently push projects over budget while exposing the workforce to unnecessary safety risks. Expenses associated with research and development coupled with a reluctance towards change generally reduces the time and money … Read more
IPEIA offers our members: Webinars!! Access to past technical presentations Student involvement through IPEIA’s Codes Courses and Student Poster Sessions Discounted rate for IPEIA’s Annual Conference with exclusive early bird access to registration Opportunities to engage with regulators Networking!! Stay connected with your colleagues from around the globe. Our membership includes industry leaders from North, … Read more
CALGARY, ALBERTA – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to announce it has entered into a purchase and sale agreement to acquire XTO Energy Canada for total cash consideration of approximately $1.9 billion and the assumption of estimated positive working capital on closing for a net purchase price of $1.7 billion … Read more
EDMONTON — Alberta is back in the black in a big way — turbocharged by high-flying oil prices.
Finance Minister Jason Nixon says the final number on the 2021-22 fiscal year, which ended on March 31, is a $3.9-billion surplus.
It’s the first time in …
CALGARY, AB – The Alberta Energy Regulator (AER) has increased the industry-wide closure spend target for liabilities in 2023 from $422 million to $700 million and released forecasted targets through 2027, which are anticipated to increase annually by 9 per cent. “These increases ensure closure activity is prioritized by companies developing energy in Alberta,” said Laurie Pushor, President, and CEO of the … Read more
How could twinning an existing pipeline that has been operating safely for 69 years be this late and this expensive? By David Yager Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter On June 22, Ottawa’s Parliamentary Budget Office (PBO) reported that the Trans Mountain Pipeline Expansion (TMX) is … Read more
CALGARY, Alberta – Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce the most recent version of the Company’s monthly activity update can be found on the Company’s website at https://www.petrusresources.com/monthlyupdates. ABOUT PETRUS Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta. … Read more
CALGARY, Alberta–(BUSINESS WIRE)–Imperial (TSE: IMO, NYSE American: IMO) today announced that together with ExxonMobil Canada, it has entered into an agreement with Whitecap Resources Inc. for the sale of XTO Energy Canada, which is jointly owned by Imperial and ExxonMobil Canada, for a total cash consideration of $1.9 billion ($940 million Imperial’s share). The sale is expected to … Read more
LAVAL, Que. — Alimentation Couche-Tard Inc. says it took a US$56.2-million pre-tax charge for the impairment of its Russian subsidiaries.
The Quebec-based company said in April that it suspended operations of 38 stores in Russia following the country’…
CALGARY — Imperial Oil Ltd. says it and ExxonMobil Canada have entered into an agreement to sell the Montney and Duvernay oil and gas-producing areas of central Alberta to Whitecap Resources Inc. for $1.9 billion.
Imperial and ExxonMobil Canada each o…
OTTAWA — Canada’s new emissions standards for gasoline and diesel will allow oil companies that get a federal tax break for installing carbon capture and storage systems to also generate credits based on those systems, which they can then sell to refi…
Speaking at end of G7 summit, prime minister adds that facilities could later be used to export hydrogen Prime Minister Justin Trudeau says Canada is looking at expanding energy infrastructure to help Europe over the “medium term” to transition away from Russian oil and gas. Trudeau, speaking to reporters in Elmau, Germany, at the end … Read more
VANCOUVER — Teck Resources Ltd. has announced a carbon capture utilization and storage pilot project at its operations in Trail, B.C.
The plant will capture three tonnes per day of carbon dioxide from the acid plant flue gas at the Trail operations.
I…
Calgary, Alberta – Avila Energy Corporation (“Avila” or the “Company”) upon receiving Shareholder Approval at the AGM October 15, 2021, the Company formally filed the change of its name to Avila Energy Corporation effective December 3, 2021. On November 24, 2021, the Company received conditional approval from the CSE for the Lifting of the Temporary … Read more
PetroChina may sell out from natural gas projects in Australia and oil sands in Canada to stem losses and divert funds to more lucrative sites in the Middle East, Africa and central Asia, two people with knowledge of the matter said. PetroChina’s plan follows a similar strategic shift by smaller state peer CNOOC Ltd, which was preparing … Read more
LONDON, June 28 (Reuters) – G7 leaders have agreed to study possible price caps on Russian oil and gas to try to limit Moscow’s ability to fund its invasion of Ukraine, G7 officials said on Tuesday. The officials, who include U.S. Treasury Secretary Janet Yellen, say the measure will limit the price that Russia receives … Read more
Jun 28, 2022 (Bloomberg) Oil rose for a third day with global output threats compounding already red-hot markets for physical supplies and as broader financial sentiment improved. Brent crude breached $117 a barrel on Tuesday, but some of the most notable moves in recent days have been in more specialist market gauges. A contract known as … Read more
Jun 28, 2022 (Bloomberg) Group of Seven nations are set to allow some exceptional public financing of overseas fossil-fuel projects to continue provided that the investments are consistent with prior climate-change agreements, according to people familiar with the matter. The final text of the leaders’ statement, due to be published Tuesday at the conclusion of a … Read more
(Bloomberg) Sign up for our Middle East newsletter and follow us @middleeast for news on the region. The OPEC+ alliance is set for an easy meeting this week as it cruises to the conclusion of a two-year pact on oil supplies. The respite won’t last long. When it gathers on Wednesday and Thursday, the 23-nation group led by Saudi Arabia … Read more
Jun 27, 2022 (Bloomberg) German Chancellor Olaf Scholz used a meeting with Canadian Prime Minister Justin Trudeau to push for closer energy ties as his ruling coalition in Berlin races to find alternatives to Russian fossil fuels. Germany hopes to import liquefied natural gas from Canada to help replace the Russian gas it still relies … Read more
Investors sold petroleum last week at the fastest rate since just after Russia’s invasion of Ukraine, as the deteriorating economic outlook trumped fears about the impact of sanctions on oil supplies. Hedge funds and other money managers sold the equivalent of 71 million barrels in the six most important petroleum futures and options contracts in … Read more
June 27, 2022 The Group of Seven rich nations are debating a global price cap for Russian oil that would curb Moscow’s energy revenues and potentially limit its ability to fund its invasion of Ukraine. LOWER EXPORTS, MORE MONEY Higher crude oil and fuel prices allowed Russian revenues to climb in May despite its export … Read more
International sustainability and ESG (Environmental, Social, and Governance) standards are in the works. At the behest of G20 leaders, the IFRS (International Financial Reporting Standards) Foundation has created a global baseline of disclosure obligations, requiring companies to document their sustainability information and resilience to climate risks and opportunities. They are seeking feedback on their draft … Read more
With its significant undeveloped oil and natural gas reserves, Canada can do much more to contribute to Europe’s energy security by filling the supply gap that sanctions on Russian energy are creating. Unfortunately, the federal government is continuing in its determined efforts to strangle the oil and natural gas industry in pursuit of a rapid … Read more
EDMONTON — Alberta Finance Minister Jason Nixon is to deliver today the final numbers on the 2021-22 budget amid higher than expected oil prices.
The budget, which ended on March 31, was last forecast to come in at a $3.2 billion deficit.
However, Alb…
By Geoffrey Cann Gasoline prices have been off the charts volatile for the past several weeks. Excess volatility will be an unpleasant feature for western markets for just 20 more years. Have You Noticed The Price of Gas Lately? Gosh, but gasoline prices are elevated. Like record-setting elevated. I recently drove from my home on … Read more
OTTAWA — The federal government is delaying new emissions standards on gasoline and diesel another year but is demanding the oil and gas sector make bigger cuts to fuel emissions by 2030 given how much more money the companies are now making.
Cabinet …
DUBAI, United Arab Emirates (AP) — The state-owned oil and gas company Qatar Energy said Monday it is joining a new industry-led initiative to reduce nearly all methane emissions from operations by 2030.
It comes as part of a broader gl…
Calgary, Alberta – Leaders of the world’s biggest economies should look to Canada as a major part of the solution to the global energy crisis. That’s the message leaders from Canada, France, Germany, Italy, Japan, the United Kingdom and the United States will be greeted with as they arrive for the 2022 G7 summit in … Read more
Your Invitation to Participate with EnergyNow as an Energy Advocate Sponsor – Big Guns Stampede Breakfast 2022 Hassle Free – It’s All Done For You! The 22nd, 23rd & 24th (Combined) – 2022 Big Guns Stampede Breakfast The Energy Industry’s Most High Profile Stampede Event! Tuesday, July 12th! ** WITH A NEW VENUE** THE WILDHORSE SALOON (Back … Read more
By Irina Slav More from Irina Slav Last week, while we were all watching oil prices, the European parliament voted for three emission-reduction policies aimed at helping the bloc meet its climate targets, which is the new ultimate goal of Europe, apparently. Perhaps it’s time to turn it into videogame. But I digress. The three policies include … Read more
PRESENTATION: Evolution Power Projects Innovation Presentation ARTICLE: Evolution Power Projects- Low Carbon Microgrid Design and Deployment LOW CARBON MICROGRID DESIGN AND DEPLOYMENT Our NG to Electricity Microgrid replaces up to 15 diesel fired generators per site and eliminates diesel fuel usage by up to 5,000 litres per day while seriously reducing on-site sound volumes. What is Energy … Read more
PRESENTATION: conformii Innovation Presentation ARTICLE: conformii Simplifies Compliance and ESG Management – Learn More What is Energy Innovation Month? Energy Innovation Month is a month-long promotional campaign that will feature some of the latest and greatest innovation, technology, and research from experts across the energy sector.
Did you miss the recent updates to Alberta Energy Regulator (AER) Directive 058? Under the authority of the AER and Alberta Environment and Parks (AEP), a fresh update to Directive 058 quietly came into effect on March 28, 2022. What’s changed in Directive 058? Directive 058 identifies requirements for the safe handling, treatment, reuse, and … Read more
VEERUM’s application provides the primary visualization and analytics application to combine all CAD, geospatial, document management, IoT and operational systems. Clients can now elevate all their siloed and valuable data into an easy-to-use cloud-based application. VEERUM is the simplest and easiest to use solution on the market so you can stay ahead of the competition … Read more
June 27 (Reuters) – U.S. shale oil producers are returning to existing wells and giving them a second, high-pressure blast to lift output for a fraction of the cost of a finishing a new well. These “re-fracs” are taking hold as shale oil producers look to take advantage of $100 a barrel crude without making … Read more
Alberta has strict regulations on the dispersion of H2S gas. Environmentally friendly incineration of H2S gas is a viable option for facilities and gas plants. We helped to solve these challenges at our client’s northern Alberta facility. COMPANY Our client is the owner and operator of mature, conventional light oil assets in the western sedimentary … Read more
(Bloomberg) Ecuador’s oil production is likely to halt completely within 48 hours if road blocks and vandalizing of oil wells continue, the Energy Ministry said in an emailed statement. Anti-government protests launched June 13 risk shutting down the former OPEC member’s oil industry “due to the acts of vandalism, takeover of wells and closing of … Read more
In gas-lift applications, standard manual valves typically used result in inefficiencies, while complicated automated systems can be difficult to install and expensive to maintain. With the goal of maximizing the amount of oil that can be retrieved by using the minimum amount of gas, an integrated automated control system is the best solution. Unique to … Read more
Jun 27, 2022 (Bloomberg) Group of Seven nations are set to announce an effort to pursue a price cap on Russian oil, US officials said Monday, though there is not yet a hard agreement on curbing what is a key source of revenue for Vladimir Putin for his war in Ukraine.Russia’s war and limiting its profits … Read more
Oil fluctuated near $107 a barrel in New York as investors monitored developments from the gathering of Group of Seven leaders, while fears of a demand-sapping recession continued to hang over the market. West Texas Intermediate swung between gains and losses on Monday, after posting its first back-to-back weekly loss since April. The G-7 will … Read more
SCHLOSS ELMAU, Germany, June 26 (Reuters) – Some of the leaders of the Group of Seven (G7) rich democracies are pushing for an acknowledgement of the need for new financing for fossil energies investments, two sources told Reuters on Sunday, as European states scramble to diversify supplies. Delegations at the annual G7 summit are debating … Read more
Ottawa’s plan to reach zero plastic waste by 2030 will have virtually no effect on the environment, but will impose high costs on Canadians At the end of 2021, the government of Canada launched a regulatory campaign against plastic waste—Zero-Plastic Waste 2030 (ZPW2030)—that will, in the estimation of its own Regulatory Impact Assessment, impose costs … Read more
Each week Josef Schachter gives 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 30 energy, energy service and pipeline & infrastructure companies with regular updates. We also hold quarterly webinars and provide Action BUY … Read more
By Deborah Jaremko on June 24, 2022 Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter World energy markets are facing a “red alert” and there’s more trouble ahead without enough investment going into oil and gas to meet demand, according to a new report by the International Energy Forum (IEF). “At … Read more
Putin has already shown that the country’s economy is of secondary importance to his imperialist ambitions. Julian Lee US Treasury Secretary Janet Yellen is at the forefront of calls for a cap on Russian oil export prices. Sounds like a great idea. Just don’t expect it to work. Here’s the problem. Russia earns billions of … Read more
(Bloomberg) Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canada’s billionaires.Rose, a geologist by training who started four successful oil and gas companies in Calgary, has watched his 4.9% stake in Tourmaline balloon to C$1.04 billion from C$662 million since the beginning of this year. … Read more
Edmonton, June 22, 2022 (GLOBE NEWSWIRE) — Capstone Infrastructure Corporation (TSX: CSE.PR.A) (“Capstone”) announces today that its wholly owned subsidiary, Wild Rose 2 Wind LP, has entered into a 78 MW Renewable Attributes Purchase Agreement (“RAPA”) with the City of Edmonton (“the City”) to supply renewable attributes for over 20 years from Capstone’s 192 MW … Read more
Jun 25, 2022 (Bloomberg) Germany is pushing for Group of Seven nations to walk back a commitment that would halt the financing of overseas fossil fuel projects by the end of the year, according to people familiar with the matter. That would be a major reversal on tackling climate change as Russia’s war in Ukraine upends … Read more
Global oil demand is surging and expected to stay strong for decades By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The case for the Trans Mountain Pipeline Expansion remains strong as oil demand is on its way to a new record high, according to industry … Read more
Award-winning heavy earthworks company strives to bridge the gap between First Nations and industry By James Snell Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Canada’s energy sector is raising the standard of living for many Indigenous people, says an Indigenous oil and gas contractor who employs dozens of … Read more
The oil and gas rig count, an early indicator of future output, rose 13 to 753 in the week to June 24, its highest since March 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday. RIG-USA-BHIRIG-OL-USA-BHIRIG-GS-USA-BHI Baker Hughes said that puts the total rig count up 283, or 60%, … Read more
Canada’s drilling rig count decreased 2 active drilling rigs according to data collected by Baker Hughes for the week ending June 24, 2022. From one week ago, Alberta rig counts decreased 4 to 105 and the Saskatchewan rig counts increased 3 to 37. Oil drilling stayed at 104 and gas decreased 2 to 50.
Courtesy of imgflip.com Alberta’s historic Leduc oilfield has Evanescence’s Bring Me To Life playing repeat on Spotify after it received investment from a recently announced partnership between Imperial Oil and E3 Lithium. Background: The Leduc oilfield is a Canadian OG, the site of a pivotal 1947 oil discovery and partially owned by Imperial Oil. The discovery changed not only the trajectory of Alberta’s economy, but allowed … Read more
HONG KONG, June 24 (Reuters Breakingviews) – A scramble for lithium creates new risks for electric-car makers. Breathtaking prices are prompting the industry to find new ways to secure the crucial battery ingredient. But dealmaking under duress makes miscalculations more likely. Manufacturers of automobiles and battery cells are striking direct contracts with miners and refiners. … Read more
PRESENTATION: Integral MAC Innovation Presentation Manufacturing innovative products designed with practical solutions to oil and gas production is what does best. With multiple patents and applications Integral Manufacturing knows multiple industries and has options from your smallest residential project to large commercial and industrial builds. New to the market is the highly efficient EcoTank® and … Read more
Jun 24, 2022 (Bloomberg) European Union leaders are preparing for a further reduction in gas supplies from Russia, seeking ways to cushion the effects of the unprecedented crisis, as well as a surge in energy prices, on the region’s economy.The impact of Russia’s invasion of Ukraine and its use of energy as a weapon forced its … Read more
Jun 24, 2022 (Bloomberg) Oil headed for its first back-to-back weekly loss since early April as fears of a demand-sapping global recession and tighter US monetary policy ripped through commodity markets to spur a broad sell-off.West Texas Intermediate traded near $105 a barrel after retreating over the previous two sessions. The US benchmark has lost almost … Read more
CALGARY, Alberta, June 23, 2022 (GLOBE NEWSWIRE) — Alberta Indigenous Opportunities Corporation’s (“AIOC” or “Corporation”) Board of Directors is pleased to announce the appointment of Ms. Chana Martineau as its Chief Executive Officer effective July 4th, 2022. Chana is a seasoned financial executive who brings an extensive and diverse background to the position. Her 30+ years … Read more
PRESENTATION: Terra Insights Innovation Presentation ARTICLE: InSAR Based Alert System for Network-Wide Linear Infrastructure Monitoring What is Energy Innovation Month? Energy Innovation Month is a month-long promotional campaign that will feature some of the latest and greatest innovation, technology, and research from experts across the energy sector.
Jun 22, 2022 (Bloomberg) –Consumer price inflation accelerated to a four-decade high, adding pressure on the Bank of Canada to deliver more aggressive interest rate hikes in coming weeks.Annual inflation rose to 7.7% last month, up from 6.8% in April, Statistics Canada reported Wednesday in Ottawa. That’s the highest since January 1983 and well above economist expectations … Read more
The global liquefied natural gas (LNG) market: Where does Canada fit in? Liquefied natural gas can play a crucial role in helping the world achieve energy affordability and security. By Ven Venkatachalam and Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A Liquefied Natural Gas (LNG) Tanker Moored To … Read more
WASHINGTON — The “over-the-top hypocrisy” outspoken Formula One driver Sebastian Vettel displayed on his T-shirt and helmet last weekend in Montreal is just the sort of thing Premier Jason Kenney says he needs to disprove and discredit the critics of …
June 23, 2022 CALGARY, AB – Bellatrix Exploration Ltd. (“Bellatrix” or the “Company“) announces a transaction (the “Transaction“) pursuant to which, among other things, Spartan Delta Corp. (the “Purchaser“) will acquire 1,000 new common shares issued by Bellatrix (the “Purchased Shares“) for an aggregate subscription price of $6,000,000, and all other existing equity securities of the Company will be cancelled, resulting … Read more
June 23, 2022 OPEC and allied producing countries including Russia will likely stick to a plan for accelerated oil output increases in August, sources said, hoping to ease surging oil prices and inflation pressure as U.S. President Joe Biden plans to visit Saudi Arabia and the Middle East. At its last meeting on June 2, … Read more
Online Webinar with Phil Harris Monday, June 27th | 5:00am MDT | 3:00pm UAE (Your date and time) REGISTER NOW Verax ISX & IMX: A Near-Infrared Analyzer for Real-Time Analysis Make more Money on your Condensates, NGLs, Crude, Refined Fuels, and Gas Lower your Capex using Multi-Parameter & Multi-Stream Units Improve your ESG Scores Lower your Operation … Read more
CALGARY, AB – Imperial Oil Limited (TSE: IMO) (NYSE American: IMO) and E3 Lithium (TSXV: ETMC) (OTCQX: EEMMF) announced today a collaboration to advance a lithium-extraction pilot in Alberta, exploring the redevelopment of an historic oil field into a potential new leading source of lithium for Canada’s growing critical minerals industry. The pilot will support E3 Lithium’s Clearwater project, which will draw … Read more
CALGARY — Imperial Oil Ltd. has signed a deal to help advance a lithium project in Alberta’s historic Leduc oilfield.
The agreement will see Imperial invest $6.35 million in E3 Lithium, a Calgary-based junior resource company that has developed a tech…
BERLIN (AP) — Germany activated the second phase of its three-stage emergency plan for natural gas supplies Thursday, warning that Europe’s biggest economy faces a “crisis” and storage targets for the winter are at risk after Russia reduced energy del…
Jun 22, 2022 (Bloomberg) Canadian taxpayers will lose money from Prime Minister Justin Trudeau’s decision to nationalize a pipeline after costs escalated amid delays in expanding the system, according to the country’s budget watchdog. A project to expand the Trans Mountain Pipeline, Canada’s sole conduit for crude from Alberta’s oil sands to the Pacific Ocean, has … Read more
Jun 23, 2022 Oil pared a second consecutive sharp decline as wider markets continue to price in the risks of a global economic slowdown. West Texas Intermediate sank toward $102 earlier Thursday, before paring losses to trade near $105.75. The US benchmark has lost more than 13% since June 8 as warnings about the world’s … Read more
June 23 (Reuters) – Several European countries are putting plans in place to manage gas supply and even ration power in case Russian gas flows stop after supply through the Nord Stream 1 pipeline were curtailed. Russian gas supply to Europe via the pipeline fell last week and Moscow said more delays in repairs could … Read more
DEVONPORT, Australia, June 23 (Reuters) – Green hydrogen is often touted as the future of energy, providing a flexible and zero-emission fuel for transportation and electricity generation. The problem is how long will it take for that future to become reality. An example of the immense challenges facing a hydrogen future can be neatly encapsulated … Read more
For most the idea of a cyberattack against your company is something that does not concern you other than when you are determining if the email in front of you is a phishing test from the IT Group or an authentic phishing attack from a foreign land. Cybersecurity professionals sometimes wear T-shirts that exclaim,” Stop … Read more
By Andrew Crawford BSc, BTech, PG Dip NDT, CGSB L3 TQMS, Buffalo Inspection Services 2020 has come and gone and whilst most people are glad to see the back of it, there is and was much to be learned from it on the inspection front. While Zoom, Teams, Skype and Face Timing have become standard … Read more
Polytetrafluoroethylene (PTFE) also known by the brand name Teflon is a highly flexible and versatile material that offers universal chemical resistance. PTFE-lined steel piping systems are ideal for handling corrosive fluids commonly used in industrial and manufacturing processes. The strength of the steel housing provides mechanical integrity while the plastic liner provides chemical resistance. PTFE-lined … Read more
It’s more cost-effective, sustainable and simple than you think By Blackline Safety If you’re a safety or operations manager, you already know the value of a robust safety culture. Whether you work in oil and gas, petrochemicals, renewable energy, utilities or other industries with a wide spectrum of safety needs, knowing how connected safety can … Read more
Kingsway Instruments is excited to share the new Fluke 1770 Series Power Quality Analyzer for measuring, monitoring, and reporting power quality on three-phase systems. Automatic measurements. More flexibility. Better power quality troubleshooting. Fluke 1770 Series Three-Phase Power Quality Analyzers eliminate the complexities of power quality logging, troubleshooting, and analysis. Engineered to be the faster, easier … Read more
MONTRÉAL – Utica Resources today filed a lawsuit in Superior Court to nullify Bill 21 or, failing that, to obtain compensation of $18 Billion which corresponds to the net present value of future profits, as estimated by a leading independent expert. Bill 21 constitutes an attack on Utica Resources’ right to “the peaceful enjoyment and free disposition of … Read more
VANCOUVER — The discovery of a woodpecker’s nest has halted construction of the Trans Mountain pipeline along a 400-metre stretch near Chilliwack, B.C.
A statement from Trans Mountain Corp. says buffer zones around trees and vegetation have been marke…
The $2.4 trillion set to be invested in energy this year includes record spending on renewables but falls short of plugging a supply gap and tackling climate change, the International Energy Agency (IEA) said on Wednesday. Rising 8% from the previous year when the pandemic was more severe, the investment includes big increases in the … Read more
Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Like not accepting that hangovers are 10x worse after hitting 30, the realities of the energy crisis have not hit home yet, either. What happened: The war in Ukraine has somewhat clouded our understanding of the energy crisis. Though supply shocks as a result of the … Read more
OTTAWA, ON: The Canadian Taxpayers Federation is calling on Prime Minister Justin Trudeau to cut gas taxes following President Joe Biden’s push to lower gas taxes in the United States. “Trudeau needs to follow Biden’s lead and provide gas tax relief immediately,” said Franco Terrazzano, Federal Director of the CTF. “Today, Trudeau could save an average … Read more
WASHINGTON — Alberta Premier Jason Kenney and oilsands industry executives are in the U.S. capital as part of a fresh push to rehabilitate the public image of Canada’s fossil fuels.
At the core of the effort is the Pathways Alliance, a coalition of o…
OTTAWA — Statistics Canada says soaring gas prices fuelled the largest rise in the annual inflation rate in four decades last month.
In May, customers paid 48 per cent more at the pump than a year earlier as a result of high crude oil prices, caused i…
OTTAWA — The Parliamentary Budget Officer says the federal government now stands to lose money from its investment in the Trans Mountain pipeline.
The latest analysis shows the net present value of the pipeline is negative $600 million, leaving it wor…
BRUSSELS/OSLO June 22 (Reuters) – The European Union will temporarily shift back to coal to cope with slowing Russian gas flows, an EU official said on Wednesday, as a tight gas market and rocketing prices set off a race for alternative fuels. European leaders have rounded on Russia after flows through its Nord Stream 1 … Read more
June 22 (Reuters) – Drivers around the world are feeling pain at the pump with fuel prices soaring, and costs are surging for heating buildings, power generation and industrial production. Prices were already elevated before Russia invaded Ukraine on Feb. 24. But since mid-March, fuel costs have surged while crude prices are up only modestly. … Read more
McLean, Greg – M.P. Report shows the oil & gas sector leads emissions reductions 21 June 2022 FOR IMMEDIATE RELEASE Ottawa, ON — Greg McLean, Conservative Shadow Minister for Natural Resources, and Larry Maguire, Vice Chair of the Natural Resources Committee, released the following statement upon the tabling of the Committee report, Study of Methane Reduction Plans: … Read more
Global oil investment will be stagnant this year and may even decline as producers deal with surging inflation and volatile prices caused by Russia’s war in Ukraine, according to the International Energy Forum. Crude prices have risen following the invasion in February, as uncertainty over supply security has riled markets. Meanwhile, OPEC and its allies … Read more
Jun 22, 2022 Oil plunged for the second time in a few days on concerns that a global economic slowdown will ultimately hobble demand.West Texas Intermediate tumbled toward $104 a barrel. Investors are concerned about the impact of sharply higher US interest rates and Federal Reserve Chair Jerome Powell is due to testify before Congress … Read more
(Bloomberg) Canada is wrestling with how to comply with sanctions on Russia’s oil-and-gas business without penalizing big customer — and Ottawa ally — Germany at the same time, a Cabinet minister said.Penalties on Russia for invading Ukraine left a turbine needed to help run the Nord Stream pipeline stranded in Canada. Soon after, Russia’s state-run … Read more
Jun 21, 2022 (Bloomberg) Canada is launching an industrial strategy for its natural resources, with critical mineral infrastructure, hydrogen production and other low-carbon projects set to be a major focus.The strategy, formally known as the Regional Energy and Resource Tables, will see Prime Minister Justin Trudeau’s government partnering with each province to “identify, prioritize and pursue … Read more
CALGARY, Alberta, June 21, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a new and significant commitment to Indspire that will support initiatives across Canada aimed at enhancing education and recognizing the outstanding achievements of Indigenous people. Cenovus will donate $1 million over four years, becoming a partner with Indspire, … Read more
PRESENTATION: Canadian UAVs Innovation Presentation ARTICLE: Canadian UAVs Secures Nation-Wide BVLOS Permit for Flight Operations What is Energy Innovation Month? Energy Innovation Month is a month-long promotional campaign that will feature some of the latest and greatest innovation, technology, and research from experts across the energy sector.
PRESENTATION: ComboCurve Innovation Presentation ARTICLE: ComboCurve is Dominating; Why Should You Care? What is Energy Innovation Month? Energy Innovation Month is a month-long promotional campaign that will feature some of the latest and greatest innovation, technology, and research from experts across the energy sector.
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. In May, we published an overview of the Pembina play focusing on ownership, … Read more
NanosTech is leading the global energy transition by using nanocatalyst technology to generate cleaner energy faster and more economical. NanosTech is leading the global energy transition by using nanocatalyst technology to change how energy is generated. They help producers meet the challenges of climate change today, and help us all evolve into a greener future. … Read more
Westland Insurance: Downhole Tool Insurance Westland’s specialized Oil & Gas brokers know that the increasing costs of tools used in directional and conventional drilling have significantly increased. We will work with you to ensure you are adequately protected in case of damage or loss of these high-priced tools. Our Downhole Tool Program offers industry leading … Read more
June 21, 2022 Chevron Chief Executive Michael Wirth on Tuesday rebutted White House officials’ criticism of the oil industry over energy costs, saying bringing down fuel prices will require a change in approach by the government. The White House asked the CEOs of seven refiners and oil companies including Chevron to a meeting this week to … Read more
Toronto, June 21, 2022: The ban on single-use plastics announced by federal Environment and Climate Change Minister Steven Guilbeault promises to be yet another attempted feel-good statement supposed to help the environment. Unfortunately, there will be little if any real positive impact while creating more problems for the functioning of parts of the Canadian economy, … Read more
Unlike many other oil-producing countries, Canada takes its environmental responsibility seriously. The oil and gas sector invests more than $1 billion per year in clean-tech research and development and is a proven leader in carbon capture and storage. Canada’s oil sands has been reducing its emissions intensity for the past decade and is set to … Read more
By Geoffrey Cann As the world moves to electrify its transportation services, it will slightly turn away from oil, and dramatically towards an alternate range of commodities, leading to new and different supply risks and opportunities. Background This article is co-authored with David Smethurst, an energy industry entrepreneur. The world is all agog about the highly … Read more
OTTAWA — Natural Resources Minister Jonathan Wilkinson says the government is more focused on stabilizing oil prices by increasing supply than it is on trying to cut prices by offering Canadians a temporary reprieve from the federal gas tax.
His comme…
Vicki Knott: CEO & Co-Founder of Crux OCM In this episode, Geoffrey speaks with Vicki Knott, CEO and co-founder of CRUX OCM, a technology company focused on bringing robotic industrial process automation into heavy industry. Control rooms and SCADA systems for a wide range of industries (water and wastewater, oil, gas, mining, rail, and power … Read more
WASHINGTON (AP) — In a pointed back and forth, the head of Chevron complained Tuesday that President Joe Biden has vilified energy firms at a time when gasoline prices are at near record levels and the president responded that the oil company CEO was …
Confirms salaried workforce will be cut by about 10 per cent over the next three months as hourly staff numbers grow Elon Musk confirmed the salaried workforce at Tesla Inc. would be cut by about 10 per cent over the next three months, but said the overall reduction in the electric-car maker’s workforce would only … Read more
DOHA, June 21 (Reuters) – ExxonMobil CEO Darren Woods on Tuesday said it would take time for energy market volatility to end and that he expects three to five years of fairly tight oil markets. Speaking at a panel at the Bloomberg Qatar Economic Forum in Doha, Woods added that the company had asked the … Read more
Jun 21, 2022 (Bloomberg) Oil climbed as traders weighed the odds of a global economic slowdown against a robust underlying market for crude and refined fuels. Brent added 1.5% in London, while the most active West Texas Intermediate contract also traded higher. There was a renewed surge in the premium of refined fuels over crude, indicating … Read more
When Saudi Aramco, the world’s largest oil producer, says it doesn’t intend to cut emissions from current levels for the next 13 years, you know Big Oil’s push on climate change could be in trouble. The recent surge in oil prices has given the state-owned energy giant an excellent reason to pump more oil. In the … Read more
CALGARY, Alberta, June 20, 2022 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) provides a second quarter operational and financial update. SECOND QUARTER OPERATIONS UPDATE STEP is pleased to provide an update on the second quarter operations in the Canadian and U.S. geographic regions. Throughout the past 12 months, STEP has focused … Read more
Sadly, no. Despite its enormous cost, Russia can finance its horrific invasion of Ukraine for months into the future. Russia is more likely to run out of equipment, materials and perhaps men than money. Most countries are encountering significant difficulties trying to reduce their dependence on Russian energy. In all cases, transitioning away from Russian … Read more
I don’t think Canadians need an environmental lecture from an F1 race car driver who probably couldn’t find Alberta on a map.
Canada is the solution for reliable, affordable, environmentally responsible energy supply By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Anti-oil and gas activists want the world to believe that ongoing use of natural resources like gas and oil is an imminent threat to humanity as … Read more
June 20, 2022 Vancouver, British Columbia, June 20, 2022 (GLOBE NEWSWIRE) — Imperial Helium Corp. (TSXV: IHC) (the “Company” or “Imperial”) today announces that Dr. David Johnson has stepped down from the Company’s Board of Directors effective immediately, but will continue to serve as Imperial’s President and CEO until closing of the previously announced plan … Read more
Jun 20, 2022 (Bloomberg) Oil and gas companies with assets in Colombia dropped Monday after Gustavo Petro won Colombia’s presidential election on a program to move the country away from its reliance on energy exports.Canacol Energy Ltd. posted the biggest declines among Toronto-listed, Colombia-focused oil producers, dropping as much as 9.3% Monday, marking its biggest intraday … Read more
LONDON, June 20 (Reuters) – Investors’ renewed bullishness toward oil prices was checked last week as central banks lifted interest rates and fears of an imminent recession sapping oil consumption intensified. Hedge funds and other money managers sold the equivalent of 11 million barrels in the six most important petroleum-related futures and options contracts in … Read more
TORONTO, June 20 (Reuters) – The United States is in talks with Canada and other allies to further restrict Moscow’s energy revenue by imposing a price cap on Russian oil, Treasury Secretary Janet Yellen said on Monday. “We are talking about price caps or a price exception that would enhance and strengthen recent and proposed … Read more
SAO PAULO (AP) — The chief executive of Brazil’s state-run oil giant Petrobras resigned on Monday amid political pressure from top lawmakers and President Jair Bolsonaro. José Mauro Coelho held the job for less than two months.
A filing…
Toronto, ON: The Canadian Taxpayers Federation is releasing its report outlining the key dangers of Bill C-11, the cornerstone of the federal government’s internet regulation agenda. The report was written with the advice and input of Dr. Michael Geist of the University of Ottawa. “Bill C-11 undermines Canadians right to express themselves and watch what they … Read more
Canada’s oil sands have long been in the limelight but for all the wrong reasons. For example, not many people know about the oil sands’ world-class reclamation requirements that, in some instances, have seen open-pit mines transform into grazing pastures where now over 300 bison live and roam. Why don’t we hear about these success stories … Read more
Summary Germany may take ‘painful’ move to fire up coal power Italy, Austria also looking at burning more coal Surging gas prices add to already rising inflation FRANKFURT/MILAN, June 20 (Reuters) – Europe’s biggest Russian gas buyers were racing to find alternative fuel supplies and even looking at burning more coal to cope with reduced … Read more
PRESENTATION: NuTech Innovations Presentation ARTICLE: This Simple Tool Can Save You Hundreds of Thousands of Dollars in Removing Pipeline Risers and Facility Piles … What is Energy Innovation Month? Energy Innovation Month is a month-long promotional campaign that will feature some of the latest and greatest innovation, technology, and research from experts across the energy … Read more
Jun 20, 2022 (Bloomberg) Oil dipped — after plunging on Friday — as traders weighed whether aggressive US monetary policy tightening will lead to a recession that would stymie consumption.Brent traded near $112 a barrel after shedding more than 5% Friday as escalating concerns about the pace at which the Federal Reserve is raising rates rattle … Read more
After years of dabbling, major oil companies are finally planning the kind of large-scale investments that would make green hydrogen a serious business.They’re chasing a very particular vision of a low-carbon future — multibillion dollar developments that generate vast concentrations of renewable electricity and convert it into chemicals or clean fuels that can be shipped around the world to power trucks, ships or even … Read more
By Irina Slav More from Irina Slav The secretary-general of the United Nations, Antonio Guterres, said last week that investment in new oil, gas, and coal was “delusional”. The word flashed in headlines across the media board because it is an excellent clickbaity word. But that’s not all that Guterres said. “The energy crisis exacerbated by the … Read more
Fuelled Auctions is pleased to announce our largest auction, with over 100 assets for sale. The auction will be a no/low reserve online auction commencing June 27th, 2022, and ending June 29th, 2022. Register for and view the auction here: Fuelled Auctions – June 2022. This auction will focus on liquidating various types of equipment, … Read more
CsHm dates: Tuesday, June 21, 2022 Wednesday June 22, 2022 Venue: Macleod Hall, Calgary Telus Convention Centre 136 8 Ave SE, Calgary, AB T2G 0K6 The Canadian School of Hydrocarbon Measurement offers attendees classes that address industry challenges such as methane reductions, leak detection, allocations, and sampling. Their program offers the opportunity to learn from … Read more
Explore was founded in 2008 as a professional Land Surveying Firm with specialization in the oil and gas sector. Over the years their services have expanded to serve the energy industry with world class services and an approach of innovation, excellence and advanced technology. Innovation Solutions Explore see’s each project as a new opportunity to … Read more
At Muddy Boots we believe that having one piece of software that handles many facets of the operation is very cost-effective. With an integrated platform for operations software, you have: One system instead of many, saving you money All your data in one place, increasing data accuracy and saving you time All staff using the … Read more
(Bloomberg) Oil brokerage NE2 Group is hitting back at allegations that Chief Executive Officer Tim Gunn created a toxic workplace, filing an C$11 million ($8.4 million) countersuit against eight former employees who left the firm earlier this year. In court documents, NE2, a trading house for Canadian crude oil including the flagship Western Canada Select blend, says it was … Read more
By David Yager June 17, 2022 Those who elect politicians hope they will govern well. Those who run for public office hope they will govern forever. This can be the only explanation for the peculiar relationship between the President of the United States and America’s oil industry at this time of global energy insecurity and … Read more
(Bloomberg) The oil pact OPEC+ launched at the outset of the pandemic is finally nearing an end, and where the group goes from here is a politically fraught question. By August, the last of the huge oil-output cuts the group made in 2020 will have been rolled back and delegates from the 23-nation coalition say they … Read more
June 17 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row as crude production returned to pre-pandemic levels and President Joe Biden slammed oil producers for profiting from sky-high prices instead of boosting output. The oil and gas rig count, an early indicator of … Read more
BAGHDAD, June 18 (Reuters) – The common objective of the Organization of the Petroleum Exporting Countries and its non-OPEC partners has always been to maintain oil market stability, not to raise prices or bring them down, OPEC Secretary General Mohammad Barkindo said on Saturday. Asked whether bringing 9.7 million barrels a day back to the … Read more
Car racing, and the world, relies on oil and gas. Canada should be the supplier of choice By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter German Formula One driver Sebastian Vettel sat on a podium in Montreal this week in gear emblazoned with his sponsor logos … Read more
Each week Josef Schachter gives 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 30 energy, energy service and pipeline & infrastructure companies with regular updates. We also hold quarterly webinars and provide Action BUY … Read more
(Bloomberg)Canadian stocks plunged in the market’s worst week in more than two years as investors fled riskier assets amid deepening concerns that red-hot inflation could trigger a recession.The S&P TSX Composite Index fell 0.4% on Friday, extending losses to tumble 6.6% this week, the gauge’s biggest drop since March 2020 when the pandemic devastated global … Read more
Canada’s drilling rig count increased 15 active drilling rigs according to data collected by Baker Hughes for the week ending June 17, 2022. From one week ago, Alberta rig counts increased 7 to 109 and the Saskatchewan rig counts increased 6 to 34. Oil drilling increased 10 to 104 and gas increased 5 to 52.
LONDON, June 17 (Reuters) – Benchmark European and British gas prices are on course for gains of more than 50% this week after Russia said capacity of its Nord Stream 1 pipeline, which take gas directly to Germany, would be cut by around 60%, dramatically reducing European gas supply. Below are some of the factors … Read more
Summary Brent and WTI on track for first weekly decline in over a month U.S. dollar rises to highest since Dec 2002 earlier in week Central banks raise interest rates this week to tame inflation Baker Hughes US oil rig count rises a bit, President wants more Russian natural gas flows to Europe fall short … Read more
CALGARY, AB – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation”) is pleased to announce that Ryan Kubik will be the Corporation’s new Chief Financial Officer effective August 1, 2022. Mr. Kubik will succeed Mr. Eric Toews who, as previously announced, plans to retire effective September 1, 2022. Following Mr. Kubik’s appointment, Mr. Toews will remain with the Corporation until September 1, 2022 to ensure … Read more
by Aaron Foyer Battery Series: Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE As countries move towards more intermittent sources power like wind and solar there is a greater need for energy storage, especially without grid-scale hydropower dams, nuclear, coal or natural gas. During the night, in cloudy times, or when the winds … Read more
(Bloomberg) Oil markets are tighter than Goldman Sachs Group Inc.’s top commodity researcher had expected just a few months ago. Brent crude is trading near $120 a barrel, while West Texas Intermediate recently touched its highest level since March. That came as the oil market grapples with a combination of robust demand growth, crude-supply disruptions, and … Read more
(Bloomberg) Saudi Arabia’s energy minister traveled to Russia in a show of support for the fellow OPEC+ member just as the US encourages the cartel to pump more oil and isolate Moscow. Prince Abdulaziz bin Salman met Deputy Prime Minister Alexander Novak on Thursday at the St. Petersburg International Economic Forum, a flagship conference that almost … Read more
Oil is heading for its first weekly decline since April after a period of choppy trading as investors weigh the prospect of further monetary tightening from central banks to curb rampant inflation. West Texas Intermediate was trading near $118 and is on track for a 1.6% decline this week. Federal Reserve Chair Jerome Powell this … Read more
A group of oil and gas producers including Equinor ASA, Shell Plc and TotalEnergies SE are considering building what would be the world’s largest floating wind farm off Norway to power their fossil-fuel activities. The companies are looking at options to build a 1-gigawatt wind farm to power operations in the Troll and Oseberg oil … Read more
CALGARY — There’s a famous saying that ‘the cure for high prices is high prices,’ but when it comes to gasoline, that may not necessarily be the case.
Experts are torn on when or even if drivers might see significant “demand destruction” — an economic…
‘This is very much a high tech, highly innovative industrial process’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter When Nicole Romanow looks at drilling rigs from 30 years ago, she is impressed by the change and innovation that has occurred in Canada’s oil and gas industry – and … Read more
By Irina Slav More from Irina Slav “When the White House started calling around in a panic, they thought shale oil production could grow sharply in the near term — like in a matter of months or quarters. They were shocked to learn that that’s like asking for blood from a stone. It’s almost impossible.” … Read more
2022 guidance increased to an average production range of 31,500 to 32,500 boe/d based on expanded capital development program Second half 2022 four-rig drilling program includes 38 operated wells (35.5 net) of which 26 wells (24.1 net) are expected to be on production by year-end Full year 2022 activity combined with our preliminary 2023 forecast … Read more
Summary Nord Stream 1 pipeline capacity down to 40% Europe’s gas price jumps up to 30% after disruption news Gazprom blames cuts on equipment delays from Canada Germany says gas cuts aimed at driving prices higher still LONDON, June 16 (Reuters) – Russian gas supply to Europe via the Nord Stream 1 pipeline fell further … Read more
June 16 (Reuters) – Russia could continue cooperating within the OPEC+ oil production agreement beyond 2022, Deputy Prime Minister Alexander Novak said, after a surprise meeting with Saudi Arabia’s energy minister on Thursday. Prince Abdulaziz bin Salman made a surprise appearance at the St Petersburg International Economic Forum while not being listed on an official … Read more
Jun 16, 2022 (Bloomberg) Oil declined as investors weighed the outlook for supply and demand following a big interest-rate hike from the Federal Reserve and rising US crude output.West Texas Intermediate futures climbed to trade near $117 a barrel earlier on Thursday. The Fed raised interest rates by 75 basis points as the central bank seeks … Read more
At GeoVerra, we care about real partnerships. Partnerships that are built on trust, constant communication and long-term relationships, which is what our team has with Trans Mountain. When it comes to the capacity to take on large operations like the Trans Mountain Expansion Project, GeoVerra has the resources to get the job done – on … Read more
Want to Be a 2022 Big Guns Stampede Breakfast Sponsor? Host Your Clients & Network Within a Bigger Group No Competitive Companies Hassle Free Set-Up – It’s All Done For You Only ONE Spot Left! After a Covid Break, It’s Time to Saddle Up and Mingle Again! The 22nd, 23rd & 24th (Combined) – 2022 … Read more
FREE WEBINAR Online Webinar with Phil Harris Thursday, June 23rd | 12:00pm MDT REGISTER HERE Join us in our new ongoing webinar series featuring unique products and applications. The MAX300-RTG uses cutting-edge quadrupole mass spectrometer technology to deliver continuous online composition monitoring of industrial gas streams. Rapid, accurate gas analysis enables high-precision reactor control and increased production … Read more
Calgary, Alberta – Canada’s major oil sands producers today announced the combination of three existing industry groups, all focused on responsible development, into a single organization called the Pathways Alliance. The new organization incorporates the Oil Sands Pathways to Net Zero Alliance, launched in 2021, Canada’s Oil Sands Innovation Alliance (COSIA), created in 2012, and … Read more
June 15, 2022 OTTAWA, ON – The Government of Canada is building a low-emissions energy future to strengthen the economy, create good jobs and support workers in our natural resource sectors. To meet Canada’s ambitious target of reaching net zero by 2050, Canada’s economy will need to be powered by two equally important energy sources: … Read more
Energy company officials on Wednesday urged using shorter-term solutions such as energy efficiency and conservation as the world makes the transition to renewable energy, saying companies must scramble to meet climate targets set for 2030. Global energy supplies have been tight, with fuel costs skyrocketing since Russia’s Feb. 24 invasion of Ukraine, shifting the industry’s … Read more
June 15, 2022 Policymakers, economists and journalists often talk about the business cycle using the good-and-evil language of a fairy tale. Booms are attributed to wise and enlightened policies while recessions are blamed on policy errors or the need to cleanse previous excess. But the economy is not a morality play. Expansions are not a … Read more
June 15, 2022 CALGARY, AB – Kiwetinohk Energy Corp. (TSX: KEC) today announced record corporate upstream production rates, the acquisition of a new early stage 150 MW solar development project with a 150 MW expansion opportunity located in Central Alberta and an increase of its credit facility. “Kiwetinohk continues to execute on its business plan, safely and reliably increasing upstream … Read more
BERLIN (AP) — Russia’s Gazprom announced a reduction in natural gas flows through a key European pipeline for the second day in a row on Wednesday, hours after Germany’s vice chancellor said its initial move appeared to be political rather than a resu…
Jun 15, 2022 (Bloomberg) Global oil supply will struggle to meet rising demand next year, meaning consumers will continue to face tight fuel markets, the International Energy Agency said in its first assessment of 2023.A resurgent Chinese economy will bolster consumption, while tighter sanctions on Russia will curtail oil output, the agency forecast in its latest … Read more
Oil fluctuated in a second day of volatile trading, with the Federal Reserve set to sharply hike interest rates at a meeting later. West Texas Intermediate traded lower after swinging between gains and losses. Prices moved in a range of more than $7 on Tuesday, the largest in almost a month. While crude markets remain … Read more
Energy company executives said on Tuesday they believe fossil fuels will play a role in the fight against climate change, as global markets grapple with tight energy supplies and skyrocketing prices. Oil and gas supplies have tightened in many countries, boosting prices, especially since Russia invaded Ukraine on Feb. 24, prompting sanctions on Russia’s energy. … Read more
The U.S. Department of Energy on Tuesday said it was selling up to 45 million barrels of oil from the Strategic Petroleum Reserve as part of the Biden administration’s previously announced, largest-ever release from the stockpile. Deliveries of crude from the SPR sale would take place from Aug. 16 through Sept. 30, the Energy Department … Read more
The American Petroleum Institute, the top U.S. oil lobby organization, on Tuesday urged President Joe Biden’s administration to lift a slew of restrictions on fossil fuel development to help ease soaring energy prices. The request underscores an uncomfortable dilemma for the Biden administration as it seeks to follow through on its promises to combat climate … Read more
PRESENTATION: Electronic Grid Systems Innovation Presentation ARTICLE: Electronic Grid Systems (eGrid) offers the most cost-effective and scalable EV charging solution on the market. What is Energy Innovation Month? Energy Innovation Month is a month-long promotional campaign that will feature some of the latest and greatest innovation, technology, and research from experts across the energy sector.
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. Industry consolidation is a common occurrence in the Western Canadian Sedimentary Basin, especially in … Read more
Excavations for Riser, Pile and Casing Abandonments Heavy equipment Fire hazard Greater safety risk Greater emissions and environmental impact Ground disturbance High costs and more logistics required Introducing a simple and significant method… Excalibur Internal Pipe Cutting System Excalibur Internal Pipe Cutting System Minimal equipment, less people on location No fire hazard Less emissions and … Read more
The Petroleum Technology Alliance Canada (PTAC) and EventWorx Corporation are collaborating to host Net•Zero Conference & Expo, taking place at Calgary Telus Convention Centre, October 25-27, 2022. Building on the past successes of PTAC’s Methane Emissions Reduction Forum (MERF), Net•Zero offers an expanded 3-day conference, featuring sessions on CCUS, Methane Detection, Electrification, Methane Mitigation, Hydrogen, and Nuclear. In addition … Read more
Apex Automation is proud to support our local community in Edmonton by sponsoring the Real Talk Golf Classic Golf Tournament. This tournament is in support of the Real Talk Julie Rohr Scholarship. We strongly believe in supporting our local communities and are passionate about giving back to great causes. Real Talk’s Ryan Jespersen has established … Read more
By Deidra Garyk Dear Calgary City Council, I’m writing in response to the City of Calgary’s $87 billion “Calgary Climate Strategy – Pathways to 2050” that was presented to the Community Development Committee to increase the pace and scale of climate action to reach the goal of net zero emissions by 2050 (in 28 years), … Read more
More and more oil and natural gas producers are investing in Artificial Intelligence/Machine Learning (AI/ML) applications with mixed results. There’s lots of enthusiasm and a fair bit of vendor hype. Nonetheless, adding AI/ML functionality to existing applications or building entirely new AI/ML applications can produce significant benefits. “We have grown rapidly by developing effective AI/ML … Read more
World leaders should look to Canada to accelerate production and exports By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Environmental protection. Social progress. Freedom. The absence of violence and terrorism. These are some of the factors that measure a country’s performance in environmental, social and governance … Read more
World leaders should look to Canada to accelerate production and exports By Deborah Jaremko on June 13, 2022, 2:27 pm MDT Environmental protection. Social progress. Freedom. The absence of violence and terrorism. These are some of the factors that measure a country’s performance in environmental, social and governance (ESG) indicators. Among the world’s top oil reserve … Read more
Summary OPEC sources see demand growth at 2 mln bpd or less in 2023 Producer group sees demand growth of 3.36 mln bpd in 2022 High fuel prices, supply problems curb oil demand outlook IEA to release 2023 forecast on Wednesday, OPEC in July LONDON, June 14 (Reuters) – World oil demand growth will slow … Read more
Jun 13, 2022 (Bloomberg) The global clean-energy transition offers metals-rich Canada a “generational economic opportunity,” as long as the mining industry can get past some key hurdles, Natural Resources Minister Jonathan Wilkinson said. Wilkinson highlighted Canada’s resource strengths and stability at Monday’s opening ceremonies of the Prospectors & Developers Association of Canada conference. Canada produces more … Read more
Jun 13, 2022 (Bloomberg) A dozen utilities will take part in a new U.K. trading platform, seeking to overcome accusations of greenwashing that have undermined the credibility of renewable energy certificates. Total Energies, Ovo Energy Ltd and Brook Green Supply Ltd are among the 12 utilities that agreed to buy hourly energy certificates on the platform … Read more
China has reduced air pollution nearly as much in seven years as the US did in three decades, helping to bring down average global smog levels in the process. The amount of harmful particulates in the air in China fell 40% from 2013 to 2020, according to the University of Chicago’s Energy Policy Institute, which … Read more
(Bloomberg) Oil rose toward $122 a barrel as investors weighed a tight supply outlook and the impact of China’s eventual return from virus curbs. West Texas Intermediate gained for a second session after closing 0.2% higher on Monday, shrugging off a broader market rout that was driven by expectations of higher interest rates to cool … Read more
Company continues to take deliberate and defined action to achieve its sustainability goals June 14, 2022 CALGARY, Alberta, June 14, 2022 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today will showcase the Company’s progress on Environmental, Social and Governance (ESG) matters at its inaugural ESG … Read more
By Irina Slav More from Irina Slav The energy transition front of the European Union — and the UK — has had it in for internal combustion engine vehicles for years. Petrol and diesel car are simply incompatible with the energy transition, even though the co-founder of Extinction Rebellion, for a random example, drives a diesel … Read more
BP Plc has become the latest international oil company to exit Canada’s high carbon-emitting oil sands — but it almost certainly won’t be the last.The decision by the London-based energy company to sell its non-operating 50% interest in the Sunrise project to Cenovus Energy Inc. is just the latest in a recent string of divestments from Alberta’s … Read more
Carbon pressures are mounting and it’s the Chief Financial Officer who is the most alarmed about carbon impacts on the business. And they’re right to be concerned. Carbon Meets Money Global interest in all things carbon is keeping CFOs up at night. No, that’s not quite correct—it’s terrifying them beyond reason. And it has to. … Read more
As far as Canadian politicians are concerned, the soaring cost of living is like winter slush, summer mosquitos and other unfortunate forces of nature. They would love to help, but what can they do? Here’s an idea: our politicians just need to follow the lead of other countries and cut the stack of hidden taxes … Read more
CALGARY — British energy giant BP is exiting the Alberta oilsands to focus on offshore oil development instead.
The company announced Monday a deal to sell its 50 per cent stake in the Sunrise oilsands project in northern Alberta to Cenovus Energy Inc…
CALGARY, Alberta, June 12, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce an update to its 2022 capital budget and non-core disposition process. MESSAGE TO SHAREHOLDERS Tony Berthelet, President & Chief Executive Officer, commented: “Given significantly higher oil and natural gas prices, PPR has chosen … Read more
CALGARY, Alberta, June 13, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached an agreement to purchase the remaining 50% of the Sunrise oil sands project in northern Alberta from bp. Total consideration for the transaction includes $600 million in cash, a variable payment with a maximum cumulative value of $600 … Read more
June 13 (Reuters) – Cenovus Energy Inc (CVE.TO) said on Monday it would buy British oil major BP Plc’s (BP.L) 50% stake in the Sunrise oil sands project in northern Alberta, as the Canadian energy company strengthens its position in the oil sands industry. The Sunrise project has been operated by Cenovus, which holds the remaining 50% stake, … Read more
(Bloomberg) Companies announcing plans to eliminate planet-warming greenhouse gas emissions have so far not managed to meet the most basic criteria for a robust net-zero goal, according to a new analysis of targets. Only a third of the plans fulfill what Net Zero Tracker report authors consider the bare minimum standards of reporting emissions reduction goals, which include making a pledge, explaining … Read more
(Bloomberg) Oil extended losses for a third session as investors weighed the prospect of further monetary tightening to combat surging US inflation and the potential for more virus lockdowns in China.West Texas Intermediate futures fell about 2% to trade near $119 a barrel amid a broader market selloff. US inflation accelerated to a fresh 40-year high last … Read more
Businesses of all sizes across different industries face increased pressure to be more sustainable. While sustainability looks different for every business, reducing corporate emissions is always beneficial. It’s no longer the case that green strategies come at the expense of corporate goals and profits. Today, we’re seeing businesses lean into emission reductions and sustainable strategies … Read more
We sat down with James MacDonald, VP of Business Development at ComboCurve, to learn more about the fastest growing technology company in the energy industry. ComboCurve has made waves across the industry since its launch–mid-pandemic–in May of 2020. How did a pandemic startup get to where it is today? What is the ComboCurve story? James … Read more
Confident your cylinders will perform under pressure? Are you confident your cylinders are sufficient for the hydraulic pressure rating of your equipment? Off-the-shelf cylinders are typically designed to industry standards, but they cannot anticipate the operating conditions of all equipment. When it comes to your rigs and service trucks, you need to have the assurance … Read more
Flame and detonation arresters are designed and tested to provide vapour handling systems with protection against flashbacks & explosions. The flame arresters are a passive device requiring no power, pneumatics, or water levels to stop fuel combustion. This is accomplished by the internal flame arrester elements absorbing the heat from a flame or explosion extinguishing … Read more
Young Group of Companies is proud to present the inaugural Young Group of Companies and Dreams Take Flight Charity Golf Tournament. Dreams Take Flight has been changing lives since 1989. They strive to give deserving children a once in a lifetime experience to see new possibilities. Young Group of Companies has been working with Dreams … Read more
Why LinkedIn? With over 880 million users and growing every single day, Energy companies should be focusing on LinkedIn above all other social media platforms because of one reason. LinkedIn is all about business, it’s not some funny picture of someone’s dog and it is the only social media business platform that can bypass the … Read more
Each week Josef Schachter gives 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 30 energy, energy service and pipeline & infrastructure companies with regular updates. We also hold quarterly webinars and provide Action BUY … Read more
Please join us for our June Mix and Mingler! This is an industry networking event open to all women and men working in the energy industry. We encourage you to invite your colleagues and industry connections to a great event. WHEN Jun 16, 4:30 PM – 5:30 PM WHERE The Metropolitan, 318 8 Ave SW … Read more
This industry has been down but will never be out By David Yager Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A clear signal that Alberta’s oil and gas industry is alive and kicking was Calgary’s Global Energy Show June 7-9. Last held in 2019, this important annual event was … Read more
Join Industry & Government Leaders, Thought Leaders, and Innovators, as we come together to explore the future of Canada’s Oil Sands Industry. Planning is underway for an enhanced Oil Sands Conference. Together with industry partners, we look forward to offering you an enhanced program, featuring panel discussions, keynotes, and thought-provoking discussion. What is the future … Read more
(Bloomberg Markets) The internet, smartphones, the euro, and cryptocurrencies are just a few of the innovations that have revolutionized markets in the past three decades. So Bloomberg Markets asked some finance industry leaders for their best guesses about what might drive the biggest changes between now and 2052. Their comments have been edited for length and clarity. … Read more
Canada’s drilling rig count increased 24 active drilling rigs according to data collected by Baker Hughes for the week ending June 10, 2022. From one week ago, Alberta rig counts increased 17 to 102 and the Saskatchewan rig counts increased 8 to 28. Oil drilling increased 22 to 94 and gas increased 2 to 47.
June 10, 2022 The U.S. oil and natural gas rig count rose this week for the first time in three weeks, as crude output slowly returns to pre-pandemic levels despite high prices as producers focus on returning money to shareholders and paying down debt. The oil and gas rig count, an early indicator of future … Read more
Total legacy tailings down 24% in last five years By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter New technologies and practices are improving the environmental performance of Canada’s oil sands industry, with producers removing more than 270 million cubic meters of “legacy tailings” from the environment … Read more
(Bloomberg) Oil bulls are starting to picture a world in which China, the engine of demand growth, comes back to the market.And if their analysis is right, the summer is going to be painful for oil consumers everywhere who’re already facing spiraling prices — whether that’s Americans paying about $5 a gallon gasoline, or Brits spending … Read more
June 10, 2022 CALGARY, AB – Avatar Innovations is excited to announce the launch of its second CarbonTech accelerator, showcasing a 85 per cent increase in the number of breakthrough technologies compared with the 2021 accelerator cohort. This group is comprised of 13 technology projects sponsored by industry, led by 58 emerging leaders employed at 21 different … Read more
Higher oil prices could have significant impact on the oil sands industry’s cash flow, capex and government contributions between 2021 and 2025 By Lennie Kaplan 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 Overview With energy security becoming a major issue globally, … Read more
The discount on Canadian heavy crude versus the West Texas Intermediate (WTI) benchmark tightened on Thursday. Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta settled at $19.30 a barrel below WTI, according to NE2 Group, narrowing from the previous day’s settlement of $19.60 a barrel under the benchmark. The discount … Read more
Jun 9th 2022 | Business, Coal, Electricity, Energy, Infrastructure, Investing, Materials, Mining, Natural Gas, Oil & Gas, Renewable Energy, Tech, Transportation Every year, Forbes releases its list of billionaires who have made their money in a variety of industries. Of the richest 100 billionaires, fifteen of them made their wealth in energy, metals, and mining. by Aaron Foyer Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE https://www.forbes.com/billionaires/
Jun 9, 2022 (Bloomberg) The US Securities and Exchange Commission’s plan requiring companies to comply with a set of climate-related disclosures is set to become a de facto standard for most large corporations in Canada, according to an analysis by Toronto-based consultancy firm ESG Global Advisors. That’s because the SEC’s draft regulation is stricter than a … Read more
Oil erased an earlier loss as investors weighed China’s bumpy return from virus curbs. West Texas Intermediate futures rose 0.3% to trade near $122 a barrel, heading for a seventh weekly gain. China is cautiously lifting most virus restrictions, even as fresh lockdowns are planned in parts of Shanghai. Any rapid demand recovery in the country will put … Read more
June 09, 2022 CALGARY, Alberta, June 09, 2022 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (TSX:NVA, “NVA” or the “Corporation”) announces that the Toronto Stock Exchange (the “TSX”) has approved the commencement of a normal course issuer bid (the “NCIB”) and the renewal and extension of the Corporation’s $440 million credit facility; which has been amended … Read more
Russian President Vladimir Putin said on Thursday that Russian companies will not block off their oil wells despite the West’s efforts to lessen its dependence on energy supplies from Moscow. The United States introduced its embargo on Russian imports in March just days after Moscow sent its troops into Ukraine, while the European Union agreed … Read more
Are you ready for Net Zero? Call for Papers for the 24th World Petroleum Congress, Calgary edition is now open! Join a line-up of industry experts and energy practitioners and share your strategies to shape the future of the energy landscape to deliver innovations to address GHG challenges. Choose from 17 technical forums across 4 … Read more
June 9 (Reuters) – After long being deeply discounted for years because of a lack of pipelines, Canadian heavy crude is finally trading like a “North American” grade, moving in tandem with U.S. sour crudes sold on the Gulf Coast after Enbridge Inc (ENB.TO) expanded its Line 3 pipeline late last year. Unfortunately for Canadian producers, the … Read more
Jun 9, 2022 (Bloomberg) Oil erased an earlier gain as renewed lockdown in parts of Shanghai was weighed against a robust market for refined fuels around the world.West Texas Intermediate futures traded below $122 a barrel. Shanghai will implement its first major restrictions on movement since the financial hub exited a two-month shutdown at the start of June, … Read more
(Bloomberg) Woodside Energy Group Ltd. said that surging oil and natural gas prices stem in part from years of insufficient investment in the energy industry. “We’ve been under-investing for the past few years,” Meg O’Neill, chief executive officer of Australia’s largest natural gas exporter, said in a Bloomberg TV interview. “So we do expect prices to … Read more
Jun 9, 2022 (Bloomberg) We’re probably going to have to fly less. And when we do board a plane, it’s going to cost more — a lot more, one way or another. Those are the conclusions of a new report by the nonprofit International Council on Clean Transportation, which analyzed how the airline industry could cut emissions in … Read more
Industry-leading helium operator, North American Helium, to participate with $3.5 million strategic equity investment CALGARY, Alberta, June 08, 2022 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company” ), a Canadian-based helium exploration and production company focused on developing assets in southern Saskatchewan, has entered into an agreement with North American Helium Inc. (“NAH”) with … Read more
June 08, 2022 CALGARY, Alberta, June 08, 2022 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) will host an Environmental, Social and Governance (ESG) Forum on Tuesday, June 14, 2022. François Poirier, President & CEO, and other leaders will highlight the company’s differentiated approach to incorporating ESG as a strategic driver. The … Read more
June 8, 2022 Calgary, Alberta – Saturn Oil & Gas Inc. (TSXV: SOIL) (FSE: SMKA) (“Saturn” or the “Company“) is pleased to announce that, further to the Company’s May 31, 2022 press release, it has closed its previously announced bought deal offering of subscription receipts, including full exercise of the over-allotment option (the “Bought Deal Offering“). Pursuant to … Read more
June 8, 2022 Canada on Wednesday launched a credit system for greenhouse gas reductions, a major part of its plan to cut carbon emissions, starting with a set of rules stipulating how projects can generate tradeable credits by capturing gas from landfills. The government said protocols for four other sectors including agriculture and forest management … Read more
June 8, 2022 TORONTO – The Indian Resource Council, an organization representing over 130 First Nations who produce or have a direct interest in the oil and gas industry, is leading a delegation of Chiefs to Toronto on June 9, 2022 to meet with the investment community. Their objective is to attract capital for Indigenous energy projects and ensure First … Read more
‘I think Canadians are seeing what’s going on in Europe and are saying, ‘Look, there must be a way we can help’ ‘ Bloomberg News Tim Egan, president of the Canadian Gas Association, said he believes the public is beginning to recognize that boosting exports to countries like Germany is the most significant way Canada … Read more
EDMONTON — Several Alberta First Nations have told the province’s government and energy industry that they must be consulted and share in the benefits of carbon capture projects near their lands that are crucial to making the oilsands more climate fri…
REGINA — The Saskatchewan Ministry of Energy and Resources is years behind on auditing potash, oil and uranium companies, potentially leaving millions of dollars in royalties and taxes uncollected, says the provincial auditor.
As of March 2021, there…
June 8, 2022 Calgary, Alberta – A new marketing campaign aims to build national confidence in how oil and gas is produced in Canada by presenting Canadians with a label of origin for an energy sector they can be proud of.The Made the Canadian Way campaign, launched this week by the Canadian Energy Centre (CEC), is focused on giving … Read more
CALGARY — As governments around the world grapple with how best to assist citizens with the rising cost of living, Alberta’s energy minister is warning that anything resembling the U.K.’s so-called “windfall tax” on the profits of oil and gas companie…
CALGARY — Ukraine’s new ambassador to Canada issued a call Wednesday to Canadian oil and gas companies to help in the fight against Russia by entering and expanding into the European market.
Yulia Kovaliv made the remarks at the Global Energy Show in …
Jun 8, 2022 (Bloomberg) Oil prices are “nowhere near” their peak as an impending rebound in Chinese demand threatens to strain a global market already pinched by tight supplies, said key OPEC member the United Arab Emirates.The comments serve as an acknowledgment that last week’s decision by the OPEC+ coalition to bolster output will give consumers … Read more
COPENHAGEN, June 8 (Reuters) – Europe could face energy shortages next winter after Russia’s invasion of Ukraine has deepened the region’s energy crisis, the head of the International Energy Agency (IEA), Fatih Birol, warned on Wednesday. “I am a especially worried about the natural gas markets … if we have a harsh and long winter … Read more
Jun 8, 2022 (Bloomberg) Oil extended gains from the highest close in three months as the US summer driving season ramps up and China emerges from virus lockdowns.West Texas Intermediate futures rose above $120 a barrel after settling 0.8% higher on Tuesday. Futures have fluctuated near a three-month high so far this week as banks including … Read more
Jun 7, 2022 (Bloomberg) Canada’s merchandise trade with the rest of the world slowed in April on planned maintenance shutdowns in the oil sands.Exports rose just 0.6% in April, after surging 7% and 3.8% the previous two months, Statistics Canada reported on Tuesday. Export volumes were down 2.1%. Imports rose 1.9% in nominal terms, while dropping … Read more
Extract the oil the world still needs – faster, more economically, and with reduced emissions – via breakthrough nanocatalyst technology. As the energy sector in Alberta continues to face moderate bitumen recovery rates, high emissions and water usage, Calgary-based energy transition company, NanosTech, has developed a remarkable solution that petroleum producers have been seeking for … Read more
Vancouver, British Columbia – Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (“Hemisphere” or the “Company”) is pleased to provide an update on its renewed credit facility, operations, revised annual guidance, and return to shareholder plan. Credit Facility Hemisphere has completed the renewal of its extendible two year committed term facility with ATB Financial, providing for borrowings … Read more
Goldman Sachs increased its Brent oil price forecasts by $10 to $135 a barrel for the period between the second half of 2022 and the first half of next year, reasoning that a structural supply deficit was still unresolved. Prices would need to rise to the forecast level for supply to normalize by late 2023, … Read more
Oil and Gas Operators Greatly reduces costs to remove risers and piles Minimal Ground Disturbance Highly Portable with Less People and Equipment in the Field Contractors Allows you to Provide a New Service to Your Customers Minimal Training Required Add to Your Revenue Stream www.ntin.ca
June 7, 2022 CALGARY, Alberta – News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) is pleased to announce the appointment of Cheryl Campbell as a new independent director to the Board of Directors effective June 7, 2022. Ms. Campbell brings extensive experience in the midstream energy sector, with expertise in operations in both regulated and … 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. Last month, the Canadian Association of Energy Contractors (CAOEC) published an updated drilling … Read more
Methane, the primary component of natural gas, has a greenhouse gas intensity 25 times greater than carbon dioxide. The oil and gas sector is responsible for 44% and 31% of all methane vented each year in Canada and the United States, respectively. In both the United States and Canada, over a third of this sector’s … Read more
Achieved Total Average Production(1) of 30,556 BOPD During Second Quarter-to-Date 2022 Total Current Average Production(2) of 33,140 BOPD Paid Down Credit Facility Balance to $0 Acordionero and Costayaco Infill Development Drilling Campaigns Yielding Encouraging Results Spud the Company’s First Exploration Well of 2022 in the Putumayo Basin of Colombia on June 2, 2022 Secured Drilling Rig to … Read more
Take advantage of opportunities for each key sub-sector to adapt and thrive For the past century, oil and gas companies have shown an inherent resilience. They have rebounded and adapted to geopolitical, social, and environmental forces while maintaining a powerful role in the global economy. Now, the industry is at another pivotal moment: It can … Read more
Carbon Capture and Storage (CCS) has become top of mind in oil and gas, energy policy, and sustainability conversations worldwide. But few, apart from the geologists and engineers who work directly in CCS, understand what it is. This article will be the final of our series on “What Is CSS” and will serve as an … Read more
Our Safe-T-Whip is a Professionally Engineered Flowline Restraint system that consists of a series of nine restraints, that range from Regular to Heavy Duty, depending on the size of pipe and pressure that is being secured. Designed for the extreme Canadian weather. They are Light weight, Easy to Set Up, Easy to Take Down, making … Read more
CALGARY — The clash between the world’s thirst for energy and the need to reduce emissions to mitigate climate change is the single biggest issue facing Cenovus Energy Inc. right now, the chief executive of the Calgary-based company said Tuesday.
Alex…
Joseph Hlady: President and Co-Founder of Lux Modus In this episode Geoffrey speaks with Joseph Hlady, President and co-founder of Lux Modus, a terrestrial data collection and processing company. The legacy world of surveyors and data collection of physical infrastructure (buildings, roads, railways, power lines) relies on expensive, bulky and power-hungry technology, and captured limited … Read more
Jun 7, 2022 (Bloomberg) Oil held on to recent gains on expectations that Chinese demand will climb in the coming months as virus restrictions are eased. Goldman Sachs Group Inc. also boosted its already bullish market outlook.West Texas Intermediate futures traded near $119 a barrel, advancing for the fourth session in five. Beijing inched closer to zero Covid … Read more
LONDON, June 6 (Reuters) – Portfolio investors have begun to turn bullish again towards petroleum as impending EU sanctions on Russia’s exports and easing lockdowns in China outweigh fears of a possible recession in Europe and North America. Hedge funds and other money managers purchased the equivalent of 32 million barrels in the six most … Read more
Jun 7, 2022 (Bloomberg) Oil held on to recent gains on expectations that Chinese demand will climb in the coming months as virus restrictions are eased. Goldman Sachs Group Inc. also boosted its already bullish market outlook. West Texas Intermediate futures traded near $119 a barrel, advancing for the fourth session in five. Beijing inched closer … Read more
Jun 6, 2022 (Bloomberg) Oil prices are likely to extend gains as global crude stockpiles need to be rebuilt in the face of rebounding Chinese demand and reduced production from Russia, according to Goldman Sachs Group Inc. Brent crude will need to average $135 a barrel in the 12 months from July, up $10 from the … Read more
Jun 7, 2022 (Bloomberg) Conventional wisdom in the transport sector has moved rather quickly from “electric cars aren’t happening” to “the future of all cars is battery powered.” But that only applies to light vehicles. There is still a healthy debate among executives of top automakers and analysts on what type of drivetrain will come to rule … Read more
Developing nations are suffering the biggest hit from this year’s oil shock. Many are dependent on imported fuel and are being crushed by a combination of high international prices, weak currencies and competition from rich nations whose economies are rebounding from the pandemic. Higher fuel bills are exacerbating inflation in countries that are already struggling … Read more
WCS discount to the benchmark WTI continues to grow. Canadian heavy crude prices have collapsed relative to futures prices because of high refining costs rather than the pipeline bottlenecks that have plagued the industry in the past, according to a Toronto-based analyst. Western Canadian Select discount to the benchmark West Texas Intermediate grew to more … Read more
June 6, 2022 CALGARY, Alberta – Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a new and substantial long-term sponsorship agreement with the Calgary Stampede. The four-year, Champion level sponsorship builds on more than a decade of involvement with the Stampede. The enhanced relationship, which runs through 2025, includes premier sponsorship of the Saddle Bronc competition … Read more
(Bloomberg) Oil climbed after Saudi Arabia signaled confidence in demand with a bigger-than-expected price increase of its crude for Asia. West Texas Intermediate traded near $120 a barrel after earlier rising to the highest level in almost three months. Saudi Arabia boosted its official selling prices for Asian customers in July as China — the world’s top crude importer — … Read more
Redhead™ Long Stroke Conventional – 2 Years of Successful Operation Pumping units have been an icon of the oil and gas industry for well over 100 years, and little has changed on the units. The simplest and most efficient geometry has been unable to be improved upon, and this consistency of design lead to this … Read more
June 06, 2022 CALGARY, Alberta, June 06, 2022 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to provide a corporate update highlighted by strong operational performance at Leismer, a steadfast commitment to debt reduction and inclusion to Canada’s headline equity index. Operations Update At Leismer, the Company successfully completed … Read more
On March 24, 2022, Canadian UAVs secured a Canada-wide Special Flight Operations Certificate (SFOC) for the operation of its fleet of small Remotely Piloted Aircraft Systems (RPAS) beyond visual line of sight (BVLOS). This first-of-its-kind permit issued by Transport Canada allows Canadian UAVs to perform BVLOS flight operations anywhere in Canada in Class G airspace, … Read more
The RigER Corporation and CashLine Solutions announced today that the companies have entered into a strategic partnership that will provide additional value to clients of both companies, enabling new ways to optimize the financial performance of their organization. The agreement effectively brings together RigER’s Operations Management solutions and CashLine’s Order to Cash Management services, with … Read more
By: Srinivas Gopal Krishna, PhD, Stress Engineering Services Canada You Have Dents in your Pipeline–Now What? It is not uncommon for in-line inspection (ILI) to reveal numerous dents within a relatively short section of an examined pipeline. Fatigue is the most common failure mechanism of dented pipelines and API RP-1183, Assessment and Management of Dents, … Read more
CONFERENCE ALMOST SOLD OUT! Join thousands of participants at the Global Energy Show. Located in the epicentre of Canada’s energy sector, Calgary, Alberta, this year’s show is back and stronger than ever. With award-winning business and technical conferences, busy indoor exhibition halls and outdoor exhibit lots, you will meet more than 30,000 people and exhibitors … Read more
THE PROBLEM: Power Plants, Chemical Plants, and Refineries have a large number of potential leak sources that can release harmful Fugitive Emissions (FEs) into the environment. This can pose a variety of risks at a facility such as: Damage to the environment Exposing plant personnel to harmful gases / vapors Economic impacts due to loss … Read more
Oil & Gas Specialists Across a vast and complex supply chain, each oil and gas business is unique and comes with its complexities. From upstream drilling, exploration and production to midstream facilities, infrastructure, to distribution and utilities, the businesses in the oil and gas industry are some of the most technically specialized businesses in … Read more
By Yogi Schulz Most European nations are keen to quit buying Russian natural gas. The required shift in energy sourcing is staggering. EU nations imported about 40% of their natural gas, nearly half of their coal and more than one-quarter of their oil from Russia in 2019. The value of these Russian energy imports at … Read more
Do emissions matter to you? They should. If it’s not the announcement of a new government platform, it’s an investor fund looking for ESG commitments or a major producer announcing GHG reduction programs. Access to reliable, fast third-party emissions data is needed to keep up with this new reality. When examining a potential acquisition, are … Read more
Courtesy of Ballard Power Systems The term “energy transition” is often used to essentially depict wind turbines replacing gas turbines. But with the world’s need to alleviate energy poverty and a growing population, the future of energy and meeting climate pledges is about a lot more than a simple transition. Background: The main goal of global climate pledges is to prevent … Read more
U.S. energy firms this week left oil and natural gas rigs unchanged as crude output only slowly recovers from the impact of the coronavirus pandemic with many producers still more focused on returning money to shareholders. The oil and gas rig count, an early indicator of future output, were flat at 727 in the week … Read more
Robust economic growth as the world emerged from the pandemic, coupled with the world’s strong reliance on abundant and affordable energy from fossil fuels, has led to a significant post-COVID rebound in oil and gas consumption. According to most forecasters, oil and gas will continue to be a large component of the world’s energy mix … Read more
Calgary, Alberta–(Newsfile Corp. – June 5, 2022) – Gear Energy Ltd. (TSX: GXE) (OTCQX: GENGF) (“Gear” or the “Company”) recently submitted an application to the Alberta Energy Regulator (“AER”) to transfer certain non-core Alberta heavy oil assets. As the information related to the application is publicly available, Gear is issuing this press release to provide additional … Read more
New pipeline infrastructure is helping connect supply with demand, and there is significant room to grow By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The tables have turned in the largest refining market in the U.S., with oil imports from OPEC countries like Saudi Arabia and … Read more
Spring and summer sports are made of more than mosquitoes and orange slices By Brittany Elves Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The grass has finally turned green, and parents are setting up their folding chairs on sidelines across the country as spring and summer sports kick-off. Many … Read more
Natural gas is affordable, reliable and reduces emissions By Joseph Quesnel Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Canada is missing out on an opportunity to help Indigenous communities access a cheaper and more reliable form of clean energy for the sake of a zealous pursuit of certain … Read more
Gasoline prices continued to trend upward across much of Canada over the weekend and experts warn more increases are coming this week.
National average gas prices rose to about $2.06 on Sunday, up almost three cents from the day before and 11 cents hi…
By David Yager One of the new and popular terms of the 21st century used to describe human behavior is “woke”. But its meaning and roots are not well understood or defined. The 1989 vintage 1561-page Websters Ninth New Collegiate Dictionary defines “woke” as the past tense of wake; “past and past part of wake.” … Read more
Canada’s drilling rig count increased 14 active drilling rigs according to data collected by Baker Hughes for the week ending June 3, 2022. From one week ago, Alberta rig counts increased 10 to 85 and the Saskatchewan rig counts increased 7 to 20. Oil drilling increased 17 to 72 and gas decreased 3 to 45.
Each week Josef Schachter gives 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 30 energy, energy service and pipeline & infrastructure companies with regular updates. We also hold quarterly webinars and provide Action BUY … Read more
Adds to a growing chorus of warnings from business leaders about the risks of recession SAN FRANCISCO — Tesla Inc. CEO Elon Musk has a “super bad feeling” about the economy and needs to cut about 10 per cent of jobs at the electric carmaker, he said in an email to executives seen by Reuters. … Read more
OPEC+’s hotly anticipated output meeting on Thursday underwhelmed the market, with oil prices closing up after the decision. The alliance agreed to production hikes of 648,000 barrels a day for July and August, about 50% bigger than those seen in recent months. But there were doubts about the group’s ability to fully deliver the increases, given they … Read more
Russia’s economy has been dealt a severe blow by international sanctions imposed following the invasion of Ukraine and that damage will become increasingly clear, according to Germany’s vice chancellor. The revenue Russia receives from commodities like oil and gas is “painful,” Robert Habeck, who is also the economy minister, said Thursday in a speech to … Read more
Oil headed for a sixth weekly advance after a keenly anticipated OPEC+ meeting delivered only a modest increase in output that failed to assuage concerns over a widening supply deficit. The producers cartel agreed to a hike that amounts to just 0.4% of global demand over July and August. There had been speculation the Saudis were preparing … Read more
The discount on Canadian heavy crude versus the West Texas Intermediate benchmark widened on Thursday, while synthetic prices also weakened. Western Canada Select heavy blend crude for July delivery in Hardisty, Alberta, last traded at $19.00 a barrel below WTI, according to NE2 Group, widening from the previous settlement of $17.45 a barrel under the … Read more
North America’s Leading Three-Day Energy Event Returns to Calgary on June 7, 2022 CALGARY, AB, May 31, 2022 /CNW/ – Global Energy Show, North America’s leading energy event is returning to Calgary from June 7-9, 2022, at the BMO Centre. The annual event brings together key energy leaders, stakeholders and partners, government representatives and thought leaders from around the world under one roof. Representing a fully integrated … Read more
June 2, 2022 The Biden administration must thoroughly analyze the climate impacts of oil and gas leasing on nearly 4 million acres (1.6 million hectares) of federal land in five states before drilling can take place, according to legal settlements reached late Wednesday. The requirement comes after Judge Rudolph Contreras of the U.S. District Court … Read more
Based in Calgary, GLJ Ltd. (GLJ) is a homegrown success story CALGARY, JUNE 2, 2022 – Calgary-based GLJ Ltd. is celebrating its 50th anniversary today. As a leading global energy consulting firm, GLJ has spent 50 years providing expertise to clients and helping meet the world’s need for responsible, sustainable energy. Since 1972, GLJ has … Read more
Jim Gibson: Chief Catalyst at SAIT In this episode, Geoffrey interviews Jim Gibson, Chief Catalyst at SAIT (a leading educational institution in Alberta). The energy industry needs a sufficient flow of competent, qualified and motivated employees ready to embrace the changes in the energy industry. Educational institutions satisfy this market demand, but are challenged with … Read more
By Irina Slav More from Irina Slav From a new Ice Age to global warming and sinking islands and coastal areas, those of us who are old enough have witnessed first-hand the evolution of the climate change narrative, including the not-too-subtle switch from “global warming” to “climate change”. David Yager, an oil industry veteran, energy … Read more
$2 million to enhance plastic recycling with BASF and an ecosystem of partners CALGARY, Alberta, June 01, 2022 (GLOBE NEWSWIRE) — A recent report highlighted that Canada disposed of nearly 4.7 million tonnes of plastic waste. Only nine per cent was recycled, with the other 91 per cent of plastic ending up in landfills or … Read more
Summary Western sanctions have driven down Russian production OPEC+ meets Thursday, may address Russian output issue U.S. diplomats have been working on Biden’s Saudi visit Biden faces inflation at 40-year high, low ratings DUBAI/LONDON/RIYADH, June 2 (Reuters) – Saudi Arabia and other OPEC states may boost oil production to offset a drop in Russian output, … Read more
June 2 (Reuters) – Russia warned on Thursday that the European Union’s decision to partially phase out Russian oil was likely to destabilise global energy markets, calling it a ‘self-destructive’ step that could backfire on the bloc. EU leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the end … Read more
HOUSTON, June 1(Reuters) – Price differences between U.S. light and heavy crude oil grades have been widening, pricing data showed, as refiners around the world have been snapping up less-dense crude grades for more gasoline production. As summer begins, sky-high demand and profits from motor fuels production has encouraged global refiners to buy lighter barrels. … Read more
European Union efforts to approve a partial ban on Russian oil imports hit an obstacle after Hungary raised new or already rejected demands, further slowing a push to clinch a deal, according to people familiar with the negotiations.EU ambassadors may meet again on Thursday in Luxembourg to try to green light the bloc’s sixth sanctions … Read more
Prime Minister Justin Trudeau’s former finance minister said the governing Liberals aren’t exhibiting any “real sense of urgency” on growth, and warned Canada could pay a big economic price if things don’t change. Bill Morneau, in his first major speech since leaving office in 2020, argued political incentives in Ottawa on all sides run counter … Read more
Surging battery prices and shortages of metals and materials are likely to last for some time, Toyota Motor Corp.’s chief scientist warned, trends that could weigh on the world’s embrace of electric vehicles. The shift to EVs over the past decade has been driven by steadily falling battery prices, a dynamic that’s enabled plug-in vehicles to … Read more
Oil dropped below $113 a barrel following reports US President Joe Biden is likely to visit Saudi Arabia this month and that the kingdom is ready to pump more crude should Russian output decline substantially due to increasing sanctions over its invasion of Ukraine. West Texas Intermediate futures fell more than 3% before paring some of those … Read more
PRINCE GEORGE, B.C. — The British Columbia Prosecution Service says 15 people are being charged with criminal contempt of court following protests last fall over a natural gas pipeline being built near Houston in northern B.C.
The prosecution service …
Strategic $260 million asset acquisition expands Saturn’s proforma production by over 50% on closing to ~11,4001 boe/d to be funded by combination of term debt and a $65 million bought-deal subscription receipt financing Accretive transaction drives 2023 guidance for adjusted funds flow2 of $223 million equating to $3.98 per share Provides substantial free cash flow which can be directed to debt reduction and to fund … Read more
Oil prices gained slightly on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai. U.S. West Texas Intermediate (WTI) crude rose $1.58, or 1.37%, to $117.08 a barrel. Brent crude for August delivery was up $1.75, or 1.50%, at $117.94 … Read more
June 1 (Reuters) – The Kremlin warned on Wednesday that the European Union’s sanctions on Russian oil would hit the global energy market, but said Moscow could re-route exports to limit its own losses. EU leaders this week agreed an embargo on Russian crude oil imports that aims to halt 90% of Russia’s oil sales … Read more
In early March, as the US and its allies unleashed a wave of sanctions on Russia, President Joe Biden stood in the White House and said they wanted to deal a “powerful blow to Putin’s war machine.” But as the war in Ukraine approaches its 100th day, that machine is still very much operational. Russia is being … Read more
May 31, 2022 (Bloomberg) The OPEC+ coalition will likely hold firm to its oil production plans this week even as the European Union moves to sanction group member Russia, delegates said.Global oil supply and demand levels remain stable, with no severe disruption yet to Russian exports, and thus require little action from the 23-nation alliance, according to the … Read more
Jun 1, 2022 (Bloomberg)BloombergNEF published its annual long-term electric vehicle outlook today, a deep look at the future on two, three, four and more wheels. The trends are clear: Despite the challenges of a pandemic, supply-chain crunches and trouble sourcing critical minerals, electric vehicles are eating into the transportation system and taking bigger bites every year. Before we jump into the … Read more
MEG Energy Corp. started a share buyback by purchasing 3.4 million of its own securities.The oil sands producer paid C$21.85 ($17.27) per share and made the transaction as a part of a 15 million share block trade, the company said in a statement Tuesday. It has 23.6 million shares remaining under the buyback plan, which … Read more
May 31, 2022 REGINA, SK / ACCESSWIRE – ROK Resources Inc. (“ROK” or the “Company“) (TSXV:ROK) has filed its interim Financial Results and Management Discussion & Analysis for the three months ended March 31, 2022. Financial Statements Highlights include: In Q1 2022, the Company realized production volume of 84,647 boe, resulting in crude and natural gas sales … Read more
CALGARY, AB – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) is pleased to provide an operational update and confirm that it has finalized its credit facility redetermination with its syndicate of lenders. Operational Update Bonterra is pleased with the progress and success realized from its 2022 drilling program to date, targeting high rate-of-return, low-risk … Read more
May 31, 2022 NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen unless otherwise noted CALGARY, Alberta, May 31, 2022 (GLOBE NEWSWIRE) — MEG Energy Corp. (TSX:MEG, “MEG” or the … Read more
Electronic Grid Systems (eGrid) offers the most cost-effective and scalable EV charging solution on the market. We help you achieve ambitious sustainability goals by minimizing not only the upfront and operating costs, but also the costs for system expansion in the future. Deploying EV chargers, slow or fast, has been a complicated and confusing process. … 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. This week for our Area Snapshot, we decided to do a snapshot of … Read more
DeReader allows you to store and share information with anyone no matter the distance. This mobile and desktop app offers a complete solution to on-site fieldwork and more. Eliminate paperwork from your life. Connect your physical assets to any accompanying documentation. Share it with anyone, anywhere. Jim and Lisa’s Story: Jim and Lisa started their careers … Read more
Surveillance technology’s purpose isn’t only to watch over your critical infrastructure facilities and keep intruders out. It can be used to proactively protect your facilities and importantly – your people. Industries that are inherently more dangerous due the nature of their business have become more measured in addressing the many risks in their day-to-day operations. … Read more
Late last year, we published a report highlighting the accuracy of The Ventbuster® in ultra-low flow detection. Specifically, that its precision measurements have brought to light new understandings around thermogenic gas effects on surface casing vent flows and shut-in surface casing pressures. Since then, Ventbuster Instruments, the creator of the Ventbuster® has expanded throughout Western … Read more
The impact of oil and gas activities continues to evolve, as does the community, particularly in areas of environmental concerns. Governing bodies continue to adjust and revise their regulations accordingly. This has created an opportunity to develop new technology that is more efficient and reduces emissions. The Alberta Energy Regulator (AER) is the regulatory body … Read more
Utilizing Energy AI can improve how you monitor tank volumes, provide a safer working environment, eliminate emissions and providing a measurable “Return on Investment”. There are multiple release points on a field storage tank (thief hatch, goose neck, PRV, level gauge assembly), just to name a few. By eliminating the need to manually gauge a … Read more
Join us in Sarnia on June 21 and 22 to learn from leading chemical producers and technology providers about the latest opportunities and challenges facing Canada’s downstream industry. Business Conference topics include: Renewal and Transformation of the Petrochemical Industry Creating Petrochemical Sustainability Sustainable Practices for Post-Consumer Plastics Justifying Early Cybersecurity Threat Detection and Response for Control Systems/OT … Read more
CALGARY — Vermilion Energy Inc. says it has completed its acquisition of Leucrotta Exploration Inc.
Calgary-based Vermilion said in March that it would acquire the junior energy company in a deal worth $477 million.
Leucrotta is a Montney-focused oil…
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