July 29 (Reuters) – Canada’s Enbridge Inc (ENB.TO) said on Friday it will invest C$5.1 billion in the joint construction and operation of the Woodfibre LNG project with Pacific Energy Corp Ltd. Woodfibre LNG is a 2.1 million-tonne-per-year liquefied natural gas (LNG) export facility with 250,000 cubic meter of floating storage capacity being built near … Read more
The projected cost of the contentious Coastal GasLink pipeline spanning northern British Columbia has jumped 70 per cent to $11.2 billion in the wake of a freshly inked deal between operator TC Energy Corp. and the group building a liquified natural g…
by Aaron Foyer Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Carbon Offsets DESCRIPTION Carbon offsets are projects that cancel out carbon produced from the removal of greenhouse gas emissions from the atmosphere TYPES OF INITIATIVES Projects which avoid releasing emissions into the atmosphere: ex. Renewable energy or carbon capture, storage, and utilization (CCUS) … Read more
Jul 29, 2022 (Bloomberg) Gazprom PJSC once again blamed Siemens Energy AG for the fact that turbines aren’t operating as they should on the Nord Stream gas pipeline to Europe. While Kremlin insiders admit Gazprom could be piping more gas, the company set out what it said were the challenges to getting the machines working. Siemens has dismissed Gazprom’s … 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
Spread this video far and wide. Quick Dick McDick did a great video on the implications of the proposed 30% reduction of fertilizer usage on Canadian farms and what this would mean. Any of you who know farmers know that they are some of the smartest and most practical people in the room, and are … Read more
CALGARY — Imperial Oil Ltd. CEO Brad Corson said Friday the federal government’s strategy to reduce emissions and reach net-zero amounts to overreach from Ottawa.
“It is very aggressive and stretches the capability of what is technically and economica…
The world’s largest energy companies, including TotalEnergies, Exxon Mobil, and Chevron are ramping up buyback programs despite criticism that they are not moving swiftly enough to increase oil and gas output as high fuel prices pinch consumers worldwide. Exxon Mobil, Chevron, Shell, and TotalEnergies produced a combined profit of $51 billion, with Exxon topping the pile at $18 … Read more
NORMAN WELLS, N.W.T. — Imperial Oil Ltd. says it is investigating a spill from a produced water line at its facility in Norman Wells, N.W.T.
The petroleum refining company says about 55,000 litres of produced water was released on Wednesday.
The bypr…
Quarterly net income of $2,409 million and cash flow from operating activities of $2,682 million Upstream production of 413,000 gross oil equivalent barrels per day, highest second quarter in over 30 years Sustained strong Downstream operating performance with quarterly refinery capacity utilization of 96%, fourth consecutive quarter above 90% Returned over $2.7 billion to shareholders … Read more
Enbridge Inc. has extended its push into liquefied natural gas as global demand soars, scooping up a stake in a proposed LNG project on the West Coast — even as the projected cost of the venture more than tripled.
On Friday, the Calgary-based energy c…
(Bloomberg) Mexico doesn’t want a rupture of North America’s free trade deal but will defend its sovereignty against any impingement, according to President Andres Manuel Lopez Obrador. The president, whose nationalist energy policy is the source of a trade complaint by his northern neighbors, said on Thursday that being close to the giant US market is … Read more
(Bloomberg) Russia and Saudi Arabia reaffirmed their commitment to the OPEC+ agreement and a stable oil market after a meeting between Deputy Prime Minister Alexander Novak and Energy Minister Prince Abdulaziz bin Salman. The two nations, which lead the oil-producers’ alliance, “are firmly committed to the goal of the OPEC+ agreement on preserving market stability and … Read more
Jul 29, 2022 (Bloomberg) Oil headed for a weekly increase on signs of tight physical supply, but remained down this month amid persisting fears of economic slowdown. West Texas Intermediate futures rose above $98 a barrel, bringing this week’s gain to about 4%. Prices are more likely to rise than fall as tight supply outweighs any risks … Read more
CALGARY, AB, July 28, 2022 /CNW/ – Journey Energy Inc. (TSX: JOY); (OTCQX: JRNGF) (“Journey” or the “Company“) is pleased to announce that it has today entered into a definitive agreement for the strategic acquisition of producing petroleum and natural gas assets in Alberta. ACQUISITION OF ASSETS Journey today entered into a definitive agreement with a senior producer for the purchase of petroleum and natural … Read more
Federal discussion paper outlines industry’s value to Canadians By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo courtesy Cenovus Energy The federal government’s plan to cap and cut emissions from the oil and gas sector comes with big risks.Reducing the industry’s emissions by a massive 42 … Read more
July 28, 2022 CALGARY, AB, July 28, 2022 /CNW/ – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation”) reported its second quarter 2022 operational and financial results. “The second quarter saw MEG initiate its share buyback program as well as continue to make significant progress on debt reduction. Year-to-date we have applied over $1 billion of free cash flow to … Read more
July 28, 2022 CALGARY, AB, July 28, 2022 /CNW/ – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company“) (TSX: TVE) is pleased to announce its financial and operating results for the three and six months ended June 30, 2022. Selected financial and operating information is outlined below and should be read with Tamarack’s consolidated financial statements and related management’s discussion … Read more
July 28, 2022 CALGARY, AB, July 28, 2022 /CNW/ – (TSX: ARX) ARC Resources Ltd. (“ARC” or the “Company”) today reported its second quarter 2022 financial and operational results. HIGHLIGHTS Second quarter 2022 production averaged 336,112 boe(1)(2) per day (60 per cent natural gas and 40 per cent crude oil and liquids). Cash flow from operating activities was … Read more
July 28, 2022 CALGARY, AB, July 28, 2022 /CNW/ – Advantage Energy Ltd. (“Advantage” or the “Corporation”) is pleased to report its second quarter 2022 results including record production, record adjusted funds flow(a) and a surge in profitability, while debt fell rapidly below our $200 million target. As a result, Advantage will accelerate its return-of-capital efforts whereby all free cash flow will … Read more
CALGARY, AB – Enerplus Corporation (“Enerplus” or the “Company”) (TSX: ERF) (NYSE: ERF) today announced that it has entered into a definitive agreement to sell certain Canadian assets (the “Assets”) located in Alberta to Journey Energy Inc. (“Journey”) for total consideration of CDN$140 million (US$109 million), prior to closing adjustments. Under the terms of the agreement, the total … Read more
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, July 28, 2022 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the “Corporation” is pleased to announce that it … Read more
Completes 20 Turnaround Projects and reports quarterly revenues of $173 million CALGARY, Alberta, July 28, 2022 (GLOBE NEWSWIRE) — ClearStream Energy Services Inc. (“ClearStream” or the “Company”) (TSX: CSM) today announced its results for the six months ended June 30, 2022. All amounts are in Canadian dollars and expressed in thousands of dollars unless otherwise noted. … Read more
CALGARY, Alberta, July 28, 2022 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) announces its record operating and financial results for the second quarter ended June 30, 2022. Selected financial and operating information is shown below and should be read in conjunction with Cardinal’s unaudited condensed interim financial statements and related … Read more
July 28, 2022 CALGARY, AB, July 28, 2022 /CNW/ – Yangarra Resources Ltd. (“Yangarra” or the “Company“) (TSX: YGR) announces its financial and operating results for the three and six months ended June 30, 2022. During the second quarter of 2022, Yangarra generated funds flow from operations of $50.0 million ($0.57 per basic share), while generating net income of $30.6 million ($0.35 per basic share). By maintaining a … Read more
Join us as we dive into land data – from start to finish Land professionals have access to a plethora of data sources that can help make their day-to-day jobs easier. But deciding which data to track can be tricky. Today, more energy leaders leverage GIS data technology than ever before. You’re invited to a … Read more
Killing the project would be devastating for many Indigenous communities along the corridor By Joseph Quesnel Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Ottawa needs to finally declare through legislation that the Trans Mountain Expansion Project is to the national advantage of Canada. Doing so would prove to the Canadian … Read more
(Bloomberg) Canadian Prime Minister Justin Trudeau’s push to accelerate the fight against climate change is sparking a showdown with the nation’s farmers, who say it’s threatening food supplies — and their profits. The government is proposing to cut emissions from fertilizer 30% by 2030 as part of a plan to get to net zero in the next three decades. But growers are saying … Read more
CALGARY — MEG Energy Inc. reported a $225-million profit in its latest quarter as it completed on time and on budget the planned turnaround at its Christina Lake Phase 2B facility.
The Calgary-based oilsands developer says it earned 72 cents per dilut…
CALGARY, Alberta, July 28, 2022 (GLOBE NEWSWIRE) — 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 … Read more
LONDON, July 28 (Reuters) – OPEC and its allies will consider keeping oil output unchanged for September when they meet next week, despite calls from the United States for more supply, although a modest output increase is also likely to be discussed, eight sources said. The Organization of the Petroleum Exporting Countries (OPEC) and allies … Read more
July 28, 202 CALGARY, AB – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to report its operating and unaudited consolidated financial results for the three and six months ended June 30, 2022. Selected financial and operating information is outlined below and should be read with Whitecap’s unaudited interim consolidated financial statements and related … Read more
CALGARY, Alberta – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its second quarter results today. TC Energy’s President and Chief Executive Officer, François Poirier commented, “Through the first six months of 2022, we have delivered strong results reflecting the high utilization we continue to see across our entire system. Demand for clean, … Read more
CALGARY — Calfrac Well Services Ltd. reported a lower loss in its most recent quarter as its revenues climbed amid improved pricing and increased activity.
The oilfield services company says it lost $6.78 million or 18 cents per share in its second qu…
GATINEAU, QC – Yesterday, the Competition Bureau registered a consent agreement with the Competition Tribunal to address its concerns related to certain aspects of the proposed formation of a gas processing joint venture between Pembina Pipeline Corporation and KKR’s Global Infrastructure Funds. In particular, the Commissioner had concerns with the acquisition of a 50% interest in … Read more
CALGARY, AB, July 27, 2022 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce the Company’s financial and operating results for the quarter ended June 30, 2022, an update on Surge’s shareholder returns framework, an operations update, and revisions to the Company’s 2022 capital and operating budget. Q2 2022 FINANCIAL & OPERATING HIGHLIGHTS An … Read more
CALGARY, AB, July 27, 2022 /CNW/ – Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company”) is pleased to announce that in furtherance of its acquisition growth strategy, it has entered into definitive agreements with Tourmaline Oil Corp. (“Tourmaline”) for the purchase of newly created gross overriding royalty interests on approximately 0.2 million gross acres of developed and undeveloped land in the … Read more
CALGARY, AB – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to release financial and operating results for the second quarter (“Q2”) of 2022, declare a special dividend and announce strategically timed growth projects. HIGHLIGHTS Second quarter 2022 cash flow(1)(2) (“CF”) was a record $1.35 billion ($3.95 per diluted share(3)), a 137% increase over second quarter 2021 cash … Read more
CALGARY — Cenovus Energy Inc. recorded a massive upswing in profit in its latest quarter amid increased commodity prices and higher margins.
The Calgary-based oil producer had net earnings of $2.4 billion in the second quarter, or $1.23 per basic shar…
Gazprom PJSC has signaled more problems are possible with Nord Stream gas turbines, amid its spat with Siemens Energy AG over equipment maintenance, which the German company said should be a routine operation. Gas traders have been closely monitoring the developments over Nord Stream turbines since mid-June, when Russia’s gas giant reduced flows via the … Read more
(Bloomberg) Oil prices are more likely to rise than fall as the tightness in supply outweighs any risks to demand, said the boss of Shell Plc. “Where we are today, there is more upside than downside when it comes to the oil price,” Shell Chief Executive Officer Ben van Beurden said in an interview with Bloomberg … Read more
Oil extended gains after a big draw in US crude inventories, while the prospect of a slower pace of interest-rate hikes from the Federal Reserve filtered through markets, buoying commodities.West Texas Intermediate futures climbed above $99 a barrel after closing 2.4% higher in the previous session. US crude stockpiles dropped by the most since the … Read more
CALGARY, Alberta, July 27, 2022 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its 2022 second quarter results with continued significant Free Cash Flow and material deleveraging. Athabasca is uniquely positioned as a low leveraged company generating significant Free Cash Flow through its low-decline, oil weighted asset … Read more
Company returned more than $1 billion to shareholders through share buybacks CALGARY, Alberta, July 28, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continued to deliver safe and reliable operations and strong financial performance in the second quarter of 2022. Upstream production of 762,000 barrels of oil equivalent per day (BOE/d)1 and downstream … Read more
Calgary, Alberta–(Newsfile Corp. – July 27, 2022) – Baytex Energy Corp. (TSX: BTE) (“Baytex”) reports its operating and financial results for the three and six months ended June 30, 2022 (all amounts are in Canadian dollars unless otherwise noted). “During the second quarter, we delivered strong operating results which included significant production growth from our … Read more
Strong second quarter average production of 31,575 boe/d, an increase of 28 percent over 2021 Rig-released 11 wells (11 net) and brought 16 wells (15.7 net) on production in the quarter Second quarter funds flow from operations was $157.0 million Calgary, Alberta–(Newsfile Corp. – July 28, 2022) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: … Read more
CALGARY — Crescent Point Energy Corp. says it had a net income of $331.5 million in the second quarter, down from a $2.1 billion net income for the same quarter last year when earnings were boosted by a large reversal of a non-cash impairment.
The Cal…
CALGARY, Alberta, July 27, 2022 (GLOBE NEWSWIRE) — Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Company”) (TSX: TWM) announces a financing plan to fully fund the repayment of its $125 million senior unsecured notes due December 19, 2022 (the “Senior Unsecured Notes”) and $20 million second lien term loan (the “Second Lien Term Loan”). The … Read more
CALGARY — Precision Drilling Corp. says it had a net loss of $24.6 million for the second quarter, down from a net loss of $75.9 million in the same quarter last year.
The net loss for the quarter ending June 30 worked out to $1.81 per share, compared…
The prospect of higher natural gas prices could see Canadian natural gas experience a “profound turnaround” 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, the importance of the Canadian natural gas … Read more
CALGARY, AB – While the Russian invasion of Ukraine has increased the incentive to raise Canadian oil sands production in the short-term, it has not fundamentally altered the production outlook over the longer-term, according to the latest forecast by the S&P Global Oil Sands Dialogue. The updated 10-year forecast expects Canadian oil sands production to … Read more
Calgary, Alberta–(Newsfile Corp. – July 27, 2022) – Gear Energy Ltd. (TSX: GXE) (OTCQX: GENGF) (“Gear” or the “Company”) is pleased to provide the following second quarter operating update to shareholders. Gear’s Interim Condensed Consolidated Financial Statements and related Management’s Discussion and Analysis (“MD&A”) for the period ended June 30, 2022 are available for review on Gear’s … Read more
Calgary, Alberta–(Newsfile Corp. – July 26, 2022) – Trican Well Service Ltd. (TSX: TCW) (“Trican” or the “Company“) is pleased to announce its second quarter results for 2022. The following news release should be read in conjunction with Management’s Discussion and Analysis (“MD&A”), the unaudited interim consolidated financial statements and related notes of Trican for … Read more
CALGARY, AB – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the quarter ended June 30, 2022. KEY HIGHLIGHTS Generated approximately $380 million of excess cash flow in second quarter, allowing for increased returns to shareholders. Enhanced return of capital offering … Read more
Calgary, Alberta–(Newsfile Corp. – July 27, 2022) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces that it has successfully closed the previously announced private placement offering (the “Offering“) of $127.6 million aggregate principal amount of 11.95 percent five-year senior unsecured notes due July 27, 2027 (the … Read more
Summary This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, July 26 (Reuters) – The bickering over a turbine Moscow says is to blame for a reduction of gas flows via Nord Stream 1 has put into focus the equipment the pipeline needs to operate. At … Read more
Jul 27, 2022 (Bloomberg) Oil rose as industry data signaled a big drop in US crude inventories ahead of an expected interest-rate hike by the Federal Reserve.West Texas Intermediate futures edged up near $96 a barrel after closing 1.8% lower in the previous session. The American Petroleum Institute reported crude stockpiles fell by 4.04 million barrels … Read more
(Bloomberg) Get used to reading about gas turbines: where they are, what state they’re in and, most important of all: whether they’re operating. That’s because the security of Europe’s winter energy supply and the health of its economy now depend on a handful of the machines that Moscow is apparently using as bargaining chips to … Read more
(Bloomberg) European energy prices extended a scorching rally as Russia tightened its grip on the region’s energy supply, further threatening the economy and key markets. Benchmark natural gas surged as much as 14%, and is more than 10 times higher than the usual levels for this time of the year, as supplies through a key pipeline … Read more
Superheat is always striving to push innovation and technology in the on-site heat treatment industry and now they have a new website to reflect just that. They believe in an industry as niche as theirs that a heat treatment contractors website needs to be informative, easy to understand, and have the ability to quickly begin … Read more
CALGARY, Alberta, July 27, 2022 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. … Read more
With 40 years of continuous experience, our expertise allows us to assess an under-performing flare system and then provide a practical and efficient retrofit package that ensures reliable, smokeless operation. Our retrofit solutions include blower air-assisted and high pressure gas-assisted designs. Some common issues with poorly designed flare systems may include: Failed ignition systems. Carbon build up. … Read more
UWT is your expert partner for measuring solutions for all types of industries and we develop individual, tailor-made solutions for client applications. Customers around the world value our flexibility and the consistently high quality of our sensors. Under the UWT motto “Solutions”, the expert team within UWT consistently designs and develops with complete dedication new … Read more
The Canadian Mining industry is well positioned to leverage its high environmental, social and governance standards and significant integration of Indigenous Communities. Canada is positioned to sustainably and responsibly develop the critical minerals sector and maximize opportunities to reuse and recycle these resources. On September 19 & 20, 2022, i2iVestcom presents “Redefining Electrical Metals Conference” … Read more
When you work with Compass Bending, there are no surprises. An agreed upon delivery date- you can carve that in stone, and make plans around it. Your logistics team can’t make it to us to pick up your bends? No worries, we deliver. When you call Compass Bending, a real person answers the phone. Seriously. … Read more
By David Yager July 25, 2022 Continuous volatility in oil prices is now part of the business. This year WTI has ranged from US$75.99 to US$123.64 on March 8. The closing price July 22 was US$95.09, down nearly 25% from its highest price since 2008 reached shortly after Russia invaded Ukraine. With the exception of … Read more
Project now operating and safely delivering crude oil from Canadian producers to U.S. consumers By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Enbridge’s Line 3 Replacement Project had bigger economic benefits than expected for U.S. communities, with thousands more jobs and nearly double the anticipated project … Read more
By Geoffrey Cann Platform solutions save time and money and improve business decision quality. And now there are even specific platforms for oil and gas. I’ve reached into the archives for this article, which was originally published on August 16, 2021. The Origins of Platforms By platform, I don’t mean off-shore—I mean a computerized business … Read more
Results show continuous improvement on key performance measures By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo courtesy Cenovus Energy There is an ongoing false narrative that Canada’s oil and gas industry has a poor track record when it comes to the environment. It’s not true. … Read more
CALGARY, Alberta – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to provide an operations update and announce the completion of the annual renewal of its syndicated Senior Credit Facility. Senior Credit Facility Renewal InPlay’s Senior Credit Facility remains unchanged in lending capacity and has been renewed at $79 million comprised … Read more
Calgary, Alberta–(Newsfile Corp. – July 25, 2022) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces that it has entered into an underwriting agreement to sell, on a private placement basis, $127.6 million aggregate principal amount of 11.95 percent five-year senior unsecured notes due July 27, 2027 … Read more
BRUSSELS, July 26 (Reuters) – European Union countries agreed on Tuesday to an emergency regulation to curb their gas use this winter, as Europe prepares for a winter of uncertain supplies from Russia. “This was not a Mission Impossible! Ministers have reached a political agreement on gas demand reduction ahead of the upcoming winter,” the … Read more
Big Oil is poised for a record-breaking $50 billion profit in the second quarter, but the industry’s stellar performance could contain the seeds of its own decline. The soaring earnings are direct result of the high energy prices that have stoked inflation, piled pressure on consumers, raised the risk of recession and prompted calls for … Read more
Jul 26, 2022 (Bloomberg) Oil advanced for a second session as signs of a tight physical crude market offset concerns about an economic slowdown.West Texas Intermediate futures climbed above $98 a barrel amid a broader rally in commodities after gaining 2.1% on Monday. Crude futures have been choppy this month, fluctuating in a range of about … Read more
Jul 26, 2022 (Bloomberg)Russia’s latest move to cut natural gas supply to Europe is intensifying global competition for seaborne shipments of the fuel, threatening higher prices and shortages from Asia to South America. Utilities in South Korea and Japan are accelerating plans to purchase more liquefied natural gas cargoes for winter out of fear that … Read more
Vladimir Putin warned last week of more reductions in the ongoing dispute over a pipeline turbine that was serviced in Canada A turbine that was repaired in Canada and destined for the Nord Stream Portovaya station in Russia is reportedly stuck in transit in Europe. PHOTO BY OLGA MALTSEVA/AFP/GETTYIMAGES Russia plans to curb natural gas flows … Read more
CHEYENNE, WY, July 26, 2022 (GLOBE NEWSWIRE) — Sino American Oil Corp (OTC PINK: OILY), announces that it has signed a definite acquisition agreement to acquire 100% interest in oil services technology company, Tritium Inc of Alberta, Canada. This acquisition increases SINO’s footprint into the oil services and technology space in one of Canada’s most prolific … Read more
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, July 26, 2022 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported on the planned Uinta Basin Railway that will serve the Uinta Basin in Utah … Read more
If policymakers want to reduce CO2 emissions in Canada, they should allow industry to do so in a way that imposes the least costs on society and not by imposing arbitrary caps on certain sectors since CO2 molecules are all identical regardless of their source, finds a new study released today by the Fraser Institute, … Read more
Recent moves in crude oil and interest rate futures anticipate a downturn in the business cycle that will cause oil consumption to dip before the end of the year and into the first three months of 2023. Federal funds futures prices imply U.S. interest rates are expected to peak at 3.50-3.75% in the first quarter … Read more
Summary This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, July 25 (Reuters) – A repaired gas turbine will be installed in the Nord Stream 1 pipeline from Russia to Germany once it is returned after maintenance, and natural gas will then be supplied in “corresponding … Read more
July 22, 2022 Saskatoon, Saskatchewan, July 22, 2022 (GLOBE NEWSWIRE) — Royal Helium Ltd. (TSXV: RHC) (“Royal“) and Imperial Helium Corp. (TSXV: IHC) (“Imperial“) announce the closing of the previously announced acquisition of Imperial by Royal pursuant to a plan of arrangement (the “Arrangement“) under the provisions of the Business Corporations Act (British Columbia). Pursuant to the … Read more
Jul 25, 2022 (Bloomberg) Oil fluctuated as concerns about weakness in the global economy jostled with signs of tight physical crude supply.West Texas Intermediate reversed declines as the dollar wiped out an earlier gain, making commodities priced in the currency more attractive. Still, crude’s futures market is facing bearish economy and policy signals with the US … Read more
Flow-Tech Meter Services, an SPS West company, is known for providing specialized measurement solutions to the downstream petroleum sector and aviation industry in Western Canada. We offer on-site meter proving and recertification for Transport Canada mandated custody transfer applications. Our on-site services are backed by in-shop repairs and rebuilds. Flow-Tech service technicians offer full on-site … Read more
With Muddy Boots you do not have to go back to the office to record your day’s work. You can capture what you have done as soon as it is completed. Whether that is from your truck, a field location or the office, Muddy Boots makes it easy for you to get your “paperwork” done … Read more
Since 1969, Kingsway Instruments has provided Sales, Rentals, and Calibration of Industrial Test Equipment and Instrumentation for Electrical, Dimensional, Humidity, Pressure, Temperature, and Torque. Our ISO 9001 Calibration Lab offers NIST Traceable calibrations with the fastest turnarounds in the industry, bar-none, and extremely competitive pricing (and often the lowest). We currently perform over 20,000 calibrations … Read more
By Leonard Herchen Since GLJ’s last price update in April, the energy sector, and the world as a whole, have been subject to intense and overlapping events that push on commodity prices in all time horizons. Strong demand recovery is occurring along with rapid movements in inflation and interest rates. Supply chain challenges associated with … Read more
Vapor Point is a rental and service company that works primarily in the Oil and Gas industry. We provide vapor control and gas treatment services. We have six locations across Texas, Louisiana and California, as well as active projects across the United States and Canada. As the Chief Operations Officer, I’m responsible for all operations … Read more
Westech and Emerson are pleased to announce the launch of the H2 Valve Series with a 15,000 psig range for #hydrogen applications. This product range, with a Double Block and Bleed (DBB) and Single Block valve offering, is designed for pressure isolation high-pressure gas applications including hydrogen fueling stations. These maintenance-free valves feature a positive double-block arrangement that protects … Read more
BRUSSELS, July 25 (Reuters) – European Union countries are seeking to soften the bloc’s plan to require them to use less gas as Europe prepares for a winter of uncertain supplies from its main gas supplier Russia. The European Commission proposed last week that the 27 EU member states each cut their gas use by … Read more
Schlumberger said annual sales will rise the most in 11 years as concern over inadequate energy supplies outweighs recessionary fears among major oil explorers. Citing the biggest jump in demand for its services in more than a decade, the world’s biggest oilfield contractor sees sales reaching at least $27 billion this year, an 18% increase … Read more
July 22 (Reuters) – The U.S. oil and natural gas rig count this week rose for a third week in a row as high prices encourage increased spending at the wellpad, boosting demand for some oilfield services companies. The oil and gas rig count, an early indicator of future output, rose two to 758 in … Read more
Canada’s drilling rig count increased 4 active drilling rigs according to data collected by Baker Hughes for the week ending July 22, 2022. From one week ago, Alberta rig counts increased 5 to 134 and the Saskatchewan rig counts stayed at 45. Oil drilling decreased 1 to 124 and gas increased 5 to 71.
Energy, Oil & Gas, Oil Markets by Aaron Foyer Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE How expensive is the recent run up in gas prices compared to the past? The current surge in gas prices represents some of the highest ever experience in the United States, even after adjusting for inflation. US Prices … Read more
LAGOS, July 23 (Reuters) – The European Union is seeking additional gas supplies from Nigeria as the bloc prepares for potential Russian supply cuts, Matthew Baldwin, deputy director general of the European Commission’s energy department, said on Saturday. Baldwin was speaking in Nigeria where he held meetings with officials from Africa’s largest oil producer this … 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
Other countries are focused on protecting their citizens from immediate risks, not their 2030 emission pledges By David Yager Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The most significant reversals in climate change policy history have taken place in only eight months. At the Glasgow COP 26 … Read more
The world needs more Canadian oil and gas, not less By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter As Canada pushes forward with an emissions reduction strategy that threatens the viability of the country’s oil and gas industry, other nations around the world are proceeding with new … Read more
Russia will not supply oil to countries that decide to impose a price cap on its oil, Russian Central Bank Governor Elvira Nabiullina told a briefing on Friday. Nabiullina added that the proposal by G7 nations, aimed at stripping Russia of energy revenues in a bid to limit Moscow’s options for financing its military campaign … Read more
CALGARY, AB – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) today announced that Mr. George Fink will be retiring as President & CEO of the Company as of September 6, 2022. Mr. Fink will remain on the Company’s Board of Directors. Mr. Patrick Oliver will be succeeding Mr. Fink as President & Chief Executive Officer and will be joining the … Read more
If we’re eventually unsuccessful at combating climate change, it won’t be because of the solutions at our disposal but, rather, because of the debate about them. It’s no secret that the political discourse in Western democracies is growing increasingly hostile, partisan, and tense. The focus, it seems, is on gaining golden stars from the political … Read more
Jul 22, 2022 (Bloomberg) A gas turbine for the operation of Gazprom PJSC’s Nord Stream 1 pipeline that’s the main route of gas transport from Russia to Germany is held up in transit after maintenance in Canada, the latest twist in an ongoing spat between the two countries. The turbine is currently stranded at an undisclosed … Read more
Jul 21, 2022 (Bloomberg) Russia’s President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed continued cooperation within OPEC+ in a phone call on Thursday, according to a statement from the Kremlin.“It was emphasized that a further coordination within OPEC+ is important,” according to the statement. “It was noted with satisfaction that member states are … Read more
(Bloomberg) Oil swung between gains and losses after European economic data missed estimates, fanning concerns of an economic slowdown. Global benchmark Brent fell as much as 0.6%, to trade near $103 a barrel, almost $2 below its high for the day. Germany’s economy is shrinking for the first time this year as inflation squeezes business and the war … Read more
Jul 22, 2022 (Bloomberg) Solar power depends on the solar cell. Wind power, the wind turbine. The key to the green hydrogen economy is a little-known machine with a name out of 1950s sci-fi — the electrolyzer. And after a century of obscurity, the electrolyzer’s moment has come. The device uses electricity to split water into hydrogen and oxygen. … Read more
The Trans Mountain Expansion (TMX) is a pipeline underway in Western Canada which will transport petroleum liquids west to domestic refineries as well as for export abroad. Like all other Canadian pipelines, TMX has met stiff opposition from activists who have spoken several mistruths about the expansion project. In light of having a more balanced, fact-based and inclusive discussion … Read more
DULUTH, Minn. – The Area Partnership for Economic Expansion (APEX) is pleased to share the results of a recently completed economic impact study regarding the Enbridge Line 3 Replacement Project (L3RP). The study, commissioned by APEX and conducted by the Bureau of Business and Economic Research (BBER) at the University of Minnesota Duluth’s Labovitz School of … Read more
BARCELONA, Spain (AP) — The European Union’s plan to reduce the bloc’s natural gas use by 15% to prepare for a potential cutoff by Russia this winter received sharp skepticism Thursday from the governments of Spain and Portugal, which are usually big …
(Bloomberg) The world’s oil map is being redrawn as the industry becomes increasingly intertwined with renewables, according to consultancy Wood Mackenzie Ltd. Oil majors that want to reduce their carbon footprint will have to shift their activities to energy basins where drilling rigs can be powered by renewables and which have ample space for carbon … Read more
Oil declined as investors assessed signs of lackluster US gasoline demand and the return of supplies from Libya. West Texas Intermediate futures fell toward $95 a barrel. The slump came after a US report showed gasoline inventories rose more than expected last week, while stalling demand sent the motor fuel’s premium over crude plummeting. Further … Read more
July 20, 2022 Reuters ConocoPhillips is exploring a sale of its stake in the Ursa platform and Princess subsea well in the Gulf of Mexico, people familiar with the matter said on Wednesday, in what would mark its exit from deepwater energy production off the U.S. Gulf coast. The oil producer has been offloading assets as it … Read more
Shell is exploring a sale of its stakes in two U.S. Gulf of Mexico oil and gas developments which could raise as much as $1.5 billion for the energy major, people familiar with the matter said on Wednesday. Potential divestments of some aging assets would allow the company to focus on newer and larger fields … Read more
OKOTOKS, Alta. — Mullen Group Ltd. nearly doubled its second-quarter profit compared with a year ago as its revenue rose 67 per cent.
Mullen Group chair and senior executive officer Murray Mullen says consolidated revenue hit record levels driven by a…
Acquisition makes BMO a leader in carbon credit development, emissions measurement capabilities, and the environmental commodity market TORONTO, July 20, 2022 /PRNewswire/ – BMO Financial Group (NYSE: BMO) (TSX: BMO) today announced that it has entered into a definitive agreement to acquire Radicle Group Inc., a Calgary-based leader in sustainability advisory services and solutions, and technology-driven emissions measurement and management. … Read more
BERLIN (AP) — Natural gas started flowing through a major pipeline from Russia to Europe on Thursday after a 10-day shutdown for maintenance — but the gas flow remained well short of full capacity and the outlook was uncertain, which leaves Europe sti…
PROJECT Nutrien Carseland Operation Secondary Containment COMPANIES INVOLVED Western Engineered Containment (WEC) Nutrien Carseland Allnorth Flint Energy THE CHALLENGE Nutrien required 4 separate areas to have a secondary containment system installed. Multiple contractors had turned down the job due to the confined space and recommended Western Engineered Containment (WEC) because of their industry leading spray … Read more
Supporter Spotlight: Kelly Ogle – July 2022 “Supporter Spotlight” features Canadians with a passion for Canada’s Natural Resource sector. Our spotlight this month is Kelly J. Ogle, CEO of the Canadian Global Affairs Institute. We talk to Kelly about the importance of Canadian natural resources and energy security. Canada Action: Kelly, thank you so much for … Read more
Suncor Energy Inc.’s decision to bow to investor pressure and investigate a sale of its gas stations has turned the spotlight on one potential buyer — Quebec’s Alimentation Couche-Tard Inc.The acquisitive owner of the Circle K chain has been seeking a major acquisition and tried unsuccessfully to take over French grocery chain Carrefour SA last year. Suncor … Read more
July 20, 2022 Canada on Wednesday said it would launch its own consultations with Mexico over energy policies, which it says are inconsistent with a new North American trade pact (USMCA), supporting a similar move announced earlier by the United States. We agree with the United States that these policies are inconsistent with Mexico’s USMCA … Read more
Summary Companies Nord Stream 1 pipeline out of action for maintenance Pipeline due to resume pumping on Thursday EU says states must act now to reduce gas consumption Germany, others have rationing and other plans in place BRUSSELS/LONDON, July 20 (Reuters) – The European Union told members states on Wednesday to cut gas usage by … Read more
Jul 20, 2022 (Bloomberg) Oil fell after a three-day climb as investors weighed data that pointed to an increase in US inventories.Brent futures, the global benchmark, lost 0.9%. Prices have struggled for meaningful direction in recent days as trading volumes have thinned out with summer getting underway in the Northern Hemisphere. US inventories of crude expanded … Read more
(Bloomberg) Halliburton Co. is gearing up for years of oilfield expansion despite warning signs of a looming global recession. The world’s biggest provider of fracking services is banking on a “multi-year upcycle” outside of its North American base, according to a statement Tuesday. Many of the world’s most significant oil provinces are in regions controlled … Read more
(Bloomberg) Russian President Vladimir Putin signaled that Europe will start getting gas again through a key pipeline, but warned that unless a spat over sanctioned parts is resolved, flows will be tightly curbed. Europe is on tenterhooks, waiting to see whether gas flows resume on Thursday when maintenance on the Nord Stream pipeline is set … Read more
The Oil Sands Charity Golf Tournament is one of Fort McMurray’s leading industry golf tournaments. Since 2020, the charity partner of the Oil Sands Charity Golf Tournament has been the Wood Buffalo Food Bank Association. Through the incredible support of our golfers and sponsors like SMS Equipment and Fort McMurray First Nation Group of Companies, we have raised more … Read more
Download PDF Version HERE Extensive Range of Experience. In our over 25-year history, Academy has gained broad and deep project experience, providing fabrication and value-add services to projects of every size and scope. We have been a trusted, capable, and dynamic partner on exceptionally large scope pipeline and facility projects with complex owner specifications. Delivering … Read more
By Patrick Flynn Stakeholders have new expectations that companies are providing transparency in their reporting and engaging in values-driven work. Climate change is without a doubt, the most complex challenge humans have ever faced. Businesses have the scale and resources to make a major impact on global warming, but often overlook a big culprit of carbon emissions – the … Read more
WASHINGTON — Canada’s decision to allow newly repaired turbines vital to a key natural gas pipeline in Europe to be sent back to Germany risks undermining a united global effort to punish Russia for its war in Ukraine, retired general Rick Hillier sai…
NEW YORK, July 19 (Reuters) – The “S” in environmental, social and governance (ESG) investing moved into the spotlight during the COVID-19 pandemic as companies faced concerns about employee wellbeing and bold calls for action on social inequality. Yet more than half of global institutional investors surveyed by French bank BNP Paribas last year said social … Read more
Landed immigrants in Canada benefit from participation in the oil and gas extraction sector By Ven Venkatachalam and 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 The global reach of immigration is apparent in all the world’s developed countries, including Canada. Canada … Read more
OTTAWA — Export Development Canada (EDC) has laid out emission reduction targets for its lending portfolios in the oil and gas and aerospace industries as part of its long-term goal to become carbon neutral by 2050.
The Crown corporation says it aims …
Canada’s Energy Citizens are excited to introduce you to their newest campaign: Energy in Action. The conversation on energy development in Canada has become far too polarized. When the truth is, we will need ALL forms of energy to meet rising global demand. In Canada, we may have some of the world’s strongest environmental regulations—but … Read more
Calgary, Alberta – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces the proposed private placement of senior unsecured notes and proposed new syndicated credit facilities. Obsidian Energy intends to undertake a proposed private placement of five-year senior unsecured notes (the “Notes“) in the amount of up to $125.0 … Read more
July 19 (Reuters) – The European Commission is planning for all scenarios regarding gas flows to Europe through Russia’s Nord Stream 1 pipeline, including the possibility that deliveries do not restart on Thursday when maintenance on the pipeline is due to end, a spokesperson said. “We are working on every possible scenario, and one of … Read more
Jul 19, 2022 (Bloomberg) Oil slipped back toward $100 a barrel after posting the biggest one-day advance since May as a volatile run in prices persisted, exacerbated by reduced trading.West Texas Intermediate dipped 1.4% after jumping more than 5% on Monday. Futures continue to swing in largely technical trading, while liquidity across the market has been … Read more
An electric vehicle is seen charging in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly LONDON, July 19 (Reuters) – Solid-state batteries could cut the carbon footprint of electric vehicle (EV) batteries by 29% compared with today’s liquid lithium-ion batteries and could reduce it even further using sustainably sourced materials, a campaign group said … Read more
Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian By Alex Lawler, Julia Payne and Stephanie Kelly Summary Brent futures dipped below $100 last week Some physical crude bids, offers at record highs Outages, strong demand support physical … Read more
The world needs more Canadian oil and gas, not less By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Canada’s allies and people around the world are in the midst of the first truly global energy crisis in history. But the federal government is advancing a strategy that … Read more
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, July 18, 2022 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the “Corporation” has entered into an asset purchase … Read more
CALGARY — The pressing global need to slash emissions in the face of a growing climate crisis is driving renewed interest in nuclear power — and few places more sothan in Canada’s oilsands.
While the idea of using nuclear power to replace the fossil f…
CALGARY, Alberta – PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce its second quarter (“Q2 2022“) results for the three-month period ended June 30, 2022. Second Quarter Highlights: Record average royalty production of 25,992 BOE per day, a 9% increase over Q1 2022 and 32% over Q2 2021 with oil royalty … Read more
Geoffrey Cann For those interested in pursuing digital innovations in oil and gas, beware the ethical questions that lie just beneath the surface. Ethically driven digital is real. Ethics and Oil and Gas The study of ethics in oil and gas dates back at least 50 years. It has long been recognized that there is … Read more
CALGARY — Precision Drilling Corp. has signed a deal to buy the Canadian well servicing business of High Arctic Energy Services Inc. for $38.2 million in cash.
The deal adds to Precision’s fleet of service rigs as well as includes rental assets, ancil…
LONDON, July 18 (Reuters) – U.S. President Joe Biden’s visit in recent days to top oil exporter Saudi Arabia ended without any announcements that the kingdom would raise oil production to help lower fuel prices which are spurring the highest U.S. inflation in four decades. Top U.S. energy envoy Amos Hochstein told a television programme … Read more
In the balmy backyard of the Israeli president’s residence this week, President Joe Biden was reminded of “a great enthusiasm” for the Jewish state when he first came as a US senator 50 years ago.The next day, at his first meeting with Saudi Crown Prince Mohammed bin Salman, no one would believe Biden was enthusiastic. The awkward … Read more
MOSCOW, July 18 (Reuters) – Canada sent a turbine for the Nord Stream gas pipeline to Germany by plane on July 17 after repair work had been completed, Kommersant newspaper reported on Monday, citing people familiar with the situation. The return of the turbine from Canada to the Russian Portovaya compressor station, a crucial element … Read more
LONDON, July 18 (Reuters) – Investors purchased small volumes of petroleum last week, after exceptionally heavy sales the week before, squaring up short positions after an unusually sudden and steep pull back in prices on recession fears. Hedge funds and other money managers purchased the equivalent of 8 million barrels in the six most important … Read more
Saudi ministers insisted that oil policy decisions would be taken according to market logic and within the OPEC+ coalition, just as US President Joe Biden wrapped up a landmark trip to the kingdom. Biden said late Friday that the Saudis shared his “urgency” to increase oil supply and he expects “further steps in the coming weeks” to … Read more
Jul 17, 2022 (Bloomberg) A US energy envoy said he is confident Gulf producers will increase oil output after President Joe Biden’s visit to Saudi Arabia, where he met with regional leaders. “Based on what we heard on the trip, I’m pretty confident that we’ll see a few more steps in the coming weeks,” Amos Hochstein, … Read more
Oil rose back near $100 a barrel, aided by a weaker dollar that put commodities broadly on a firmer footing. West Texas Intermediate added as much as 3.1%. European stock markets and US equity futures were higher on Monday. The dollar weakened — making commodities priced in the currency more attractive — as investors scaled back bets … Read more
Should Canada and the U.S. decide to restore order to global energy markets, it could easily be done Daniel Yergin is a serious guy. He started in 1992 with his epic oil history book The Prize. Thirty years and two books later, Yergin has become the world’s most thoughtful, accurate and respected source of the … Read more
This News Release is Not for Dissemination or Distribution in the United States of America to United States Newswire Services or United States Persons CALGARY, Alberta, July 18, 2022 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported that the Government of Quebec intends to bring into effect Bill 21, An Act mainly … Read more
CALGARY, Alberta, July 18, 2022 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) is pleased to announce that it has entered into an asset purchase agreement to acquire the well servicing business and associated rentals assets of High Arctic Energy Services Inc. (“High Arctic”) for an aggregate purchase price of $38.2 … Read more
CALGARY — Suncor Energy Inc. says it has reached a deal with activist investor Elliott Investment Management LP that will see it undertake a strategic review of its downstream retail business with the goal of “unlocking shareholder value.”
The agreeme…
New location extends fabrication capacity and adds jobs in the community CALGARY, AB, July 18, 2022 / Alstar Group / – Alstar Group, a leader in fabrication and facility construction, is pleased to announce a new location in Leduc, Alberta. A new location in Leduc, AB To accommodate growth and to improve capacity, reliability and … Read more
Land surveying, Engineering, Asset integrity, Regulatory Explore strives to exceed our primary objective of TRUST through providing industry best quality customer service, reliable partnerships, and clear communication. We are excited to bring our industry best up to Grande Prairie with a fully equipped field crew and Asset Integrity Support. Reach out to Lucas Barker at … Read more
Improving your operations and upgrading your plants and refineries takes you one step further into Industry 4.0, but it can be a challenge to know where to start to implement the technology and solutions. When it comes to flare gas measurement, the new FLOWSIC100 Flare XT makes saving so easy. State of the art ultrasonic … 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
Spills are not only harmful to the environment, but they’re also expensive to clean up and unsafe for workers. Loading and unloading hazardous fluids from trucks can be detrimental to the environment and personnel safety. SPS West manufactures Enviro-box units that protect both personnel and the environment. An Enviro-box, or a truck-out box is a … Read more
Have you noticed that your energy costs have increased? For industrial customers, there have been 3 main factors to this: Commodity costs have increased: Both the raw cost of natural gas and electricity have increased over the last few years Wires and delivery charges have steadily increased Carbon tax continues to increase. as of April … Read more
Canada’s drilling rig count increased 16 active drilling rigs according to data collected by Baker Hughes for the week ending July 15, 2022. From one week ago, Alberta rig counts increased 11 to 129 and the Saskatchewan rig counts increased 3 to 45. Oil drilling increased 9 to 125 and gas increased 7 to 66.
Canada’s decision last week to send repaired parts of a Russian natural gas pipeline back to Germany was difficult but necessary, Deputy Prime Minister Chrystia Freeland said Saturday.
The Liberals are facing heavy criticism from Ukraine for exempting…
OTTAWA — The federal government is proposing to use an industry-specific cap-and-trade system or a modified carbon pricing system to set a ceiling for emissions from the oil and gas sector and drive them down almost 40 per cent by the end of this deca…
Jul 15, 2022 (Bloomberg) President Joe Biden said he expects further oil supply increases from Saudi Arabia to help tame fuel costs at home after a landmark meeting with the kingdom’s rulers.Biden’s trip didn’t result in an immediate pledge for a production hike, but US officials said they were confident that Riyadh would lead the OPEC+ … Read more
Jul 16, 2022 (Bloomberg) Gazprom PJSC requested Siemens for documents that will allow the return of a gas turbine crucial for Nord Stream pipeline after its maintenance in Canada.The papers, which the Russian gas giant requested July 15, should help move the turbine amid sanctions regimes in Canada and the European Union back to Portovaya compressor … Read more
July 15, 2022 The discount on Canadian heavy crude versus the West Texas Intermediate (WTI) benchmark tightened on Friday, the last day of the monthly Canadian crude trading window. Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, settled at $20.00 a barrel below WTI, according to NE2 Group, narrowing $1.60 … Read more
The United States and Saudi Arabia have reiterated their commitment to the stability of global energy markets, during a visit by U.S. President Joe Biden, a joint statement carried by Saudi state news agency (SPA) said. In the statement released after Biden held talks with senior Saudi officials including Crown Prince Mohammed bin Salman, the … Read more
Reuters U.S. energy firms this week added oil and natural gas rigs for a second week in a row, but only incrementally as softening crude prices deter some drillers from returning to the wellpad. The oil and gas rig count, an early indicator of future output, rose four to 756 in the week to July … Read more
The U.S. and Canada should work together to build new oil pipelines to strengthen North American energy security By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter There’s an important message for U.S. President Joe Biden as he heads to Saudi Arabia this week to ask for … Read more
–Siemens Energy AG has the responsibility for transporting a turbine back from Canada that is critical to restoring the flow of Russian gas through the Nord Stream 1 pipeline, the German government said.“We trust that Siemens has recognized the political and economic significance of this turbine and that Siemens will do everything to get it … Read more
Europe’s oil and gas giants, flush with cash from soaring prices, are considering whether to turbo charge their transition to clean energy with multibillion-dollar acquisitions of major renewable energy producers. Shell Plc, TotalEnergies SE and Equinor ASA are among the companies that have evaluated the suitability of European utilities for takeovers, according to people familiar … Read more
Oil clawed back some of its weekly decline, with President Joe Biden’s trip to Saudi Arabia set to yield no announcement on oil. West Texas Intermediate rose as much as 2.9%, capping another hugely volatile week of trading, which saw prices at one point wipe out all of their gains since Russia invaded Ukraine. Biden … Read more
Russia is keeping European natural gas traders on edge about the return of a key pipeline supplying the continent after maintenance ends next week. State-run energy giant Gazprom PJSC said on Twitter Wednesday that it doesn’t have any documents allowing Siemens Energy AG to move a crucial turbine for the Nord Stream link out of Canada, where … Read more
Marketing campaigns reaching audiences in the United States, Europe and Canada will talk about the need for Canadian oil and gas By Tom Olsen What do more than 1.2 million Americans have in common? They’ve all visited the Canadian Energy Centre’s campaign website, CanadaIsTheSolution.com, which promotes Canada as the answer to energy woes in the US. … Read more
July 14, 2022 Rising demand for oil this summer is expected to keep crude oil prices at elevated levels despite a decision by OPEC+ countries to boost their output in July and August, according to the latest forecast from Deloitte Canada’s Resource Evaluation and Advisory (REA) group. Prices for natural gas are also expected to … Read more
July 14, 2022 Recession in the major economies is the only sure-fire way to reduce Russia’s petroleum revenues – an uncomfortable truth Western policymakers have tried to obfuscate from voters at home. U.S. and EU policymakers will not deliberately plunge their economies into a recession simply to intensify the economic pressure on Russia; privation is … Read more
OTTAWA — PRELEDE – WAITING FOR PHOTO
A House of Commons committee will hold a special meeting this morning to discuss Canada’s controversial decision to send repaired parts for a Russian natural gas pipeline back to Germany.
The Liberal government is …
U.S. oil and gas dealmaking fell to $12 billion last quarter, down from the first quarter and nearly a third of the $34.8 billion in the same period a year ago, as commodity price volatility left buyers and sellers clashing over asset values, according to data released by energy analytics firm Enverus on Thursday. “The … Read more
Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday that attempts by the Group of Seven to cap oil prices may in fact cause them to rise. “Those plans are anti-market and risky,” she told a weekly briefing. The cap scheme was first mooted last month by U.S. Treasury Secretary Janet Yellen as part of … Read more
(Bloomberg) Joe Biden promised to “reorient” the US’s relationship with Saudi Arabia, but the man he shunned over the kingdom’s human rights record may yet get to decide in which direction. With Russia’s invasion of Ukraine upending energy markets, it became clear months ago that Saudi Crown Prince Mohammed bin Salman was no longer someone the US president could afford to … Read more
LONDON, July 14 (Reuters) – Oil prices fell more than $2 on Thursday as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand. Brent crude futures for September were down $2.14 to $97.43 a barrel at 1038 GMT … Read more
Highest average quarterly production level since 2017 at 31,575 boe/d in the second quarter First half development program completed with strong results Calgary, Alberta–(Newsfile Corp. – July 14, 2022) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces our preliminary second quarter 2022 results and an extension … Read more
CALGARY, Alberta, July 13, 2022 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce the appointment of Mrs. Lynn Azar to the Board of Directors (the “Board”) effective immediately, and a production and return of capital update. Additionally, Parex has confirmed that it will release its second quarter … Read more
First Nations LNG Alliance championing responsible development By Michelle Bodnar Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Former elected chief of the Wet’suwet’en First Nation Karen Ogen-Toews says that developing liquefied natural gas (LNG) projects that prioritize the environment, consultation and engagement with Indigenous communities will benefit all … Read more
(Bloomberg) OPEC’s first oil-market outlook for 2023 suggests no relief for squeezed consumers, with more crude needed from the group even though most members are already pumping flat out.The Organization of Petroleum Exporting Countries expects global oil demand growth to exceed the increase in supplies by 1 million barrels a day next year. To fill the … Read more
EEL GROUND, N.B. — An organization representing eight Mi’kmaq groups in New Brunswick is joining a court challenge to the federal government’s approval of a new offshore oil project in Newfoundland.
Mi’gmawe’l Tplu’tagnn Inc. says a single spill from …
Prime Minister Justin Trudeau said on Wednesday that it was a “very difficult decision” to grant an exemption from sanctions imposed on Russia for the return of a repaired turbine needed for the Nord Stream 1 gas pipeline. The sanctions are “aimed at (Russian President Vladimir) Putin and his enablers and aren’t designed to harm … Read more
The head of the International Energy Agency said on Tuesday the G7 proposal to impose a price cap on Russian oil should include refined products as well. The Group of Seven rich nations are considering imposing a price cap on Russian oil in an effort to keep oil flowing and curb inflation, while still limiting … Read more
By David Yager July 12, 2022 The forward-thinking actions of a deeply concerned municipal government should never be underestimated. Following a municipal plebiscite supported by 76% of those who voted, in 1989 Red Deer declared itself a Nuclear Weapons Free Zone. It worked. In the past 33 years Red Deer has not developed or tested … Read more
REGINA — Anca Dan built a successful career working administrative jobs in the oil and gas industry for more than two decades, but in recent years she has shifted her focus toward her own startup company — a lifestyle app for single parents.
After oil…
CALGARY, Alberta, July 12, 2022 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (TSX:STEP) (“STEP” or the “Company”) is pleased to provide an update on its credit agreement. STEP has entered into an agreement with a syndicate of Canadian banks which amends and extends its credit agreement. The principal terms of STEP’s Third Amended and Restated … Read more
By Grant Smith Jul 13, 2022 (Bloomberg) Oil prices pose a high risk to the global economic recovery, with signs that fuel costs are starting to “take their toll” on demand growth, the International Energy Agency said.The Paris-based adviser trimmed forecasts for oil consumption this year and next amid growing fears of a recession, warning that … Read more
Jul 13, 2022 (Bloomberg) Oil climbed after sliding below $100 a barrel on Tuesday as choppy trading gripped the market before a US inflation print. West Texas Intermediate rose almost 1% on Wednesday after tumbling 7.9% in the previous session to close at a three-month low. US inflation data for June is due Wednesday and economists … Read more
Jul 13, 2022 (Bloomberg) President Joe Biden seeks to salvage relations with Saudi Arabia in a Mideast trip that risks political embarrassment unless near-record US gasoline prices swiftly come back to Earth.The hope is that restoring relations with Crown Prince Mohammed Bin Salman, a leader he decried as a “pariah” after the murder of columnist Jamal … Read more
Please enjoy a throwback video to Insight Analytical’ s Phil Harris giving a presentation to the GPAC group on Optimizing Condensate Stabilizers – JP3 as the Solution. Product Line Card Follow us on LinkedIn Website Check out our Youtube
Welcome to the world of GIS data visualization, where information is collected, combed, and displayed in one place for max collaboration and better decision-making. The data is there—but what is the client going to do with it? Who’s going to see it? How do we make the most of it? GeoVerra’s National Manager of GIS … Read more
Right now, what really matters for oil and gas companies of any size is to get costs down and improve ROI. By using an integrated land and financial software suite you can gain immediate costs savings of 30-50%. Here’s how you do it: Switch to an affordable, reliable SaaS suite with minimal disruption to your … Read more
The Trudeau Liberals must be patting themselves on the back every time they pass a gas station, after all, these unaffordable pump prices are precisely what they want. Inflation hasn’t been this high since the Pierre Elliot Trudeau government back in the early 80s. Canadians are struggling to afford groceries and other basics. But that … Read more
Irving Oil is expanding hydrogen capacity at its Saint John, N.B., refinery in a bid to lower carbon emissions and offer clean energy to customers.
The family-owned company said Tuesday it has a deal with New York-based Plug Power Inc. to buy a five-…
NEW ORLEANS (AP) — One million gallons of oil have been collected since April 2019 from the site of the nation’s longest oil spill, in the Gulf of Mexico off Louisiana, the Coast Guard and National Oceanic and Atmospheric Administration said Tuesday. …
CALGARY, Alberta, July 12, 2022 (GLOBE NEWSWIRE) — Prospera Energy Inc. (“Prospera” or the “Corporation“) (PEI: TSX-V; OF6B: FRA) is pleased to release its fourth quarter and year-end 2021 financial and operating results. Selected financial and operational information outlined below should be read in conjunction with the Company’s financial statements and related management’s discussion and … Read more
Jul 12, 2022 (Bloomberg) Oil extended losses as a Covid-19 resurgence in China added to concerns about a global economic slowdown, with the International Energy Agency warning the worst of the energy crisis may be ahead.West Texas Intermediate lost as much as 2.9% to near $101 a barrel. Bearish sentiment has filtered through commodities as rising … Read more
July 11, 2022 VICTORIA – Alberta Premier Jason Kenney says he’ll be raising the alarm over the federal government’s emissions reduction plan when he meets with Canada’s premiers over the next two days. Kenney says the reduction plan is “pie in the sky,” calling it a “ridiculous” target with no proper plan for implementation. The … Read more
July 11, 2022 Suncor Energy faces a long slog to fix its poor safety record and regain investor confidence, analysts said on Monday, after Chief Executive Mark Little resigned following another worker fatality at a company site. Little stepped down as head of Canada’s third-largest oil producer on Friday, a day after a worker was killed … Read more
WASHINGTON – The federal government has found a powerful supporter for its decision to allow a natural gas pipeline between Russia and Europe to resume operations. The U.S. State Department says it backs Canada’s decision to send repaired turbine equipment vital to the Nord Stream 1 pipeline back to Germany. Spokesman Ned Price says it’s … Read more
CALGARY, Alberta, July 11, 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 confirm that we have mobilized a rig to commence drilling our second helium well, HEI 06-2-006-06W3M (“HEI-2”) at the Company’s 100% owned and … Read more
Achieved Total Average Production of 30,607 BOPD During Second Quarter 2022, The Highest Since 2019 Second Quarter 2022 Total Average Production Up 4% from First Quarter 2022 and 25% from Second Quarter 2021 Ecuador and Colombia 2022 Exploration Programs Remain On-Track As of June 30, 2022, Cash on Balance Sheet of $109 Million and … Read more
July 11, 2022 Mark Little to step down, effective immediately Kris Smith appointed Interim CEO Board begins global search for next CEO Calgary, Alberta – Suncor (TSX: SU) (NYSE: SU) announced on July 8 2022 that the Board of Directors and chief executive officer Mark Little have mutually agreed that Mr. Little will step down as president … Read more
By Geoffrey Cann Is Canada really a plausible supplier of liquefied natural gas (LNG) to European markets? Here’s my report card on Canada’s competitiveness in that market. I spent 4 years working on the Australian LNG export businesses, and wrote 200+ articles about the global LNG trade, how it works, what’s need for success, and … Read more
This column first appeared in the Financial Post and is now available for reprint. There’s great irony in Finance Minister Chrystia Freeland touting the government’s “fiscal restraint” on the same day taxpayers find out that the governor general and her fellow passengers racked up an $80,000-bill on in-flight catering. “I know that my fiscal prudence surprised many,” said Freeland during her … Read more
CALGARY — Suncor Energy Inc. has cancelled its planned investor update about oilsands operations and safety in the wake of last week’s resignation of chief executive Mark Little.
The Calgary-based energy giant had scheduled the update, which was to ta…
FRANKFURT, July 11 (Reuters) – The flow of gas from Russia to Germany through the Nord Stream 1 pipeline stopped on Monday as a planned 10-day maintenance period began. The question is: Will flows then resume? Germany, Europe’s largest economy, is largely dependent on Russian gas to fuel its export-led economy and to keep homes … Read more
July 11 (Reuters) – European countries are putting plans in place to manage gas supply and even ration power in case Russian gas flows stop completely or a planned outage at the Nord Stream 1 pipeline is extended. Russian gas supply to Europe via Nord Stream 1 was curtailed to 40% of capacity last month … Read more
By Grant Smith (Bloomberg) Even if Joe Biden secures a pledge for more oil when he visits Saudi Arabia this week, it may do little to drive down the high fuel prices roiling the global economy.The US president’s visit to a country he once vowed to isolate represents a significant thawing of relations, but the Saudis and their … Read more
Jul 11, 2022 (Bloomberg) Oil declined as a renewed increase in China’s virus cases fed into weakness across global markets.West Texas Intermediate dropped near $102 a barrel. Covid cases continued to climb in Shanghai and other regions, with new sub-variants posing a challenge to the country’s Covid Zero strategy. Oil also fell on a stronger dollar, and on the cancellation … Read more
Canada has agreed to export a natural-gas turbine back to Germany for use in the Nord Stream pipeline, issuing a “time-limited and revocable” permit to exempt it from sanctions on Russia’s oil and gas industry. The decision was made over the objections of Ukraine’s government and the large Ukrainian diaspora in Canada, who argued that … Read more
July 11, 2022 CALGARY, Alberta, July 11, 2022 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX:EFX) (Enerflex or the Company), announced today that it has identified matters which require the Company to make a restatement to reclassify certain amounts within the Statement of Cash Flows. Users of the Company’s financial statements should note that the Adjustments, as described below, do … Read more
An ESG strategy is critical in today’s business environment, especially in the energy sector. This article explores the increasing importance of ESG and outlines 3 ways your engineering consultant can support your ESG strategy. ESG Perhaps the most explosive three-letter combination since Trinitrotoluene gained its common abbreviation – TNT. Of course, we’re not talking about … Read more
When a composite sampler is used for sampling, extracting a consistent representative sample of the flowing stream is of the utmost importance. Our A+ products can help. The GP2™ Genie® Membrane Probe™ offers the A+ Corporation’s field-proven, phase separation Genie® Membrane Technology™ to reject entrained liquids at the flowing line temperature and pressure, while its … Read more
Outlook shows strong case for Canadian LNG projects By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Canadian natural gas is finding its way to global customers desperate for more LNG, but it’s not because of any export project on Canada’s coasts. Instead, the supply is taking off … Read more
U.S. energy firms this week added oil and natural gas rigs for the fourth time in five weeks amid high crude prices although the growth in rigs has been small and crude production has been slow to recover to pre-pandemic levels. The oil and gas rig count, an early indicator of future output, rose two … Read more
REALITY: It will be ‘virtually impossible’ to meet climate targets without dramatic expansion of carbon capture technology By CEC Staff Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Image courtesy Global CCS Institute Carbon capture and storage (CCS) is a critical technology to reduce emissions while maintaining energy supply … 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
Canada’s drilling rig count increased 9 active drilling rigs according to data collected by Baker Hughes for the week ending July 8, 2022. From one week ago, Alberta rig counts increased 7 to 118 and the Saskatchewan rig counts increased 2 to 42. Oil drilling increased 7 to 116 and gas increased 2 to 59.
Jul 8, 2022 (Bloomberg) Western nations made a mistake by imposing energy sanctions on Russia, and if they persist with further restrictions it will be a catastrophe for global markets, said President Vladimir Putin. “Sanctions restrictions on Russia cause much more damage to those countries that impose them,” Putin said on Friday at a meeting with … Read more
Jul 8, 2022 (Bloomberg) Oil posted a weekly decline as volatile trading and recession fears overshadowed a fundamentally tight supply picture.West Texas Intermediate crude futures rose to settle over $104 a barrel on Friday, but it wasn’t enough to stave off a weekly decline of 3.4%. Investors remain concerned that restrictive US monetary policy could herald … Read more
Mark Little to step down, effective immediately Kris Smith appointed Interim CEO Board begins global search for next CEO Calgary, Alberta–(Newsfile Corp. – July 8, 2022) – Suncor (TSX: SU) (NYSE: SU) announced today that the Board of Directors and chief executive officer Mark Little have mutually agreed that Mr. Little will step down as … Read more
CALGARY — Suncor Energy Inc. chief executive Mark Little has stepped down as president and chief executive officer and resigned from its board of directors just one day after the company announced its oilsands operations have suffered another workplace fatality. Little’s departure is effective immediately, the Calgary-based energy company said in a release Friday. “Suncor … Read more
Summary Two industry sources question volume of spare Saudi capacity OPEC data shows decline in Saudi well completions in 2021 Saudi Arabia has been pumping below its OPEC quota Aramco says maximum sustainable capacity is 12 million bpd LONDON, July 8 (Reuters) – When French President Emmanuel Macron whispered in Joe Biden’s ear last month … Read more
Jul 8, 2022 (Bloomberg) Oil is set for a weekly loss after choppy trading in which concerns over a demand-sapping slump clashed with signals of tight supply.West Texas Intermediate was near $102 a barrel, putting the US benchmark on course for a weekly fall of more than 5%. Prices have swung in a range of more … Read more
July 8, 2022 REGINA, SK – A healthy environment and a healthy economy go hand in hand, and nowhere is that clearer than in Canada’s clean energy future. The Government of Canada is investing to make Canada a leader in new technologies that will build a strong and resilient economy, create sustainable jobs, and fight climate change. Today, the Honourable Jonathan Wilkinson, … Read more
July 7, 2022 Calgary, Alberta – Suncor regretfully reports that a contractor worker was fatally injured this morning at our Base Plant site north of Fort McMurray, Alberta. Suncor Emergency Services responded to an incident at a shovel maintenance pad in the mine early this morning where a Komatsu employee was pronounced deceased at the scene. “This … Read more
Jul 7, 2022 (Bloomberg) Canada’s merchandise trade surplus widened to the largest in 14 years as the nation benefits from surging global prices for its crude oil.Exports exceeded imports by C$5.3 billion ($4.1 billion) in May, the highest since August 2008, Statistics Canada reported on Thursday. The surplus was more than double economists’ forecasts and the … Read more
Jul 7, 2022 (Bloomberg) Royal Bank of Canada became the first of the country’s major banks to predict the nation’s economy will fall into a recession next year amid four-decade high inflation, historic labor shortages and aggressive interest-rate hikes. In a new set of projections released on Thursday, Canada’s largest bank said it expects back-to-back quarters of negative growth in 2023, a … Read more
(Bloomberg) Germany expects Canada to release a key Russian pipeline part caught up in sanctions, a move that both Berlin and Moscow have said could ease the squeeze on gas flows to Europe. According to a person familiar with the situation, Germany expects Canada to send the turbine back soon. A German government spokesman told reporters … Read more
July 7, 2022 U.S. President Joe Biden has called on Saudi Arabia and other Gulf producers to increase their oil output to help stabilise prices, which have surged as a result of a strong rebound in consumption after the pandemic and now sanctions on Russia. But Saudi Arabia and the other Gulf Cooperation Council (GCC) … Read more
State of Michigan regulators on Thursday ordered Canada’s Enbridge Inc to file additional information on safety and engineering for its proposed Line 5 oil pipeline tunnel, describing Enbridge’s current application as “deficient.” Enbridge is planning to build a tunnel beneath the Straits of Mackinac in the Great Lakes to rehouse its existing 540,000 barrel per day … Read more
CALGARY — A worker has died in an incident at Suncor Energy Inc.’s Base Mine in Alberta.
The Calgary-based energy company confirmed Thursday that a contractor was killed Thursday morning at the site north of Fort McMurray.
The victim’s name was not re…
CALGARY — To outsiders, it’s a rodeo — a 10-day party featuring cowboy hats, country music and an abundance of pancakes.
But the Calgary Stampede — which kicks off in earnest Friday with its first in-person parade since 2019 — is also a high-powered n…
TORONTO — Gasoline prices have dropped about 12 cents a litre overnight in Ontario and are down across much of Canada after a big dip in the price of oil this week.
GasBuddy is reporting prices are down to about $1.79 in major cities in Ontario from $…
CALGARY — Crescent Point Energy Corp. is raising its quarterly dividend after announcing it has sold off some of its non-core assets and reached its net debt target ahead of schedule.
The Calgary-based oil company announced Thursday it has completed t…
Jul 7, 2022 Germany’s vice chancellor made a public plea to the Canadian government to release a turbine that’s caught up in sanctions against Russia and critical for gas flows to Europe. Economy Minister Robert Habeck told Bloomberg that the turbine for the Nord Stream 1 pipeline needs to be returned before maintenance work begins … Read more
The world needs to dramatically ramp up spending tenfold to $110 billion a year to curb methane releases and avoid the worst of climate change, a new study has found. The potent greenhouse gas is responsible for nearly half of net global warming to date, yet just 2% of global climate finance is directed towards curbing releases of the gas, … Read more
Two key findings from BP Plc’s annual deep dive on global energy statistics are that renewable electricity has grown at an extraordinary clip in the past two decades, and it still has very far to go. Solar and wind have expanded by orders of magnitude and now make up more than 10% of global electricity; that also means that … Read more
Jul 7, 2022 (Bloomberg) Oil fluctuated, with prices on course for a deep weekly loss, as investors weighed concerns that a potential global slowdown would hollow out energy demand against signs of still-tight physical markets.US benchmark West Texas Intermediate crude traded above $99 a barrel, still more than 8% lower this week. Over the past month, … Read more
July 6, 2022 With crude prices around $100 a barrel and COVID-19 restrictions largely gone, the Calgary Stampede looks to reclaim its place this year as Canada’s biggest oil industry party. The 110-year-old event, featuring a rodeo, midway and ubiquitous pancake breakfasts, will run from July 8 to 17 with heavy networking at dozens of … Read more
The discount on Canadian heavy crude versus the West Texas Intermediate (WTI) benchmark widened on Wednesday, while the premium on synthetic crude from the oil sands jumped markedly higher. Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, last traded at $21.80 a barrel below WTI, according to NE2 Group, widening … Read more
CCUS technology will enable Canadian producers to reduce emissions without compromising energy 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 Download the PDF here Download the charts here Executive Summary The war in Ukraine has emphasized the need for secure and reliable oil and gas … Read more
CALGARY, AB, July 6, 2022 /CNW/ – Advantage Energy Ltd. (“Advantage” or the “Corporation”) is pleased to provide an operational update for the second quarter of 2022 and an outlook through 2023. Operational Update As a result of continued outperformance at Glacier, Wembley and Valhalla, production during the second quarter of 2022 increased to average approximately 60,000 boe/d (89% natural gas, 5% … Read more
CALGARY, AB – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) and (NYSE: CPG) is pleased to announce an increase to its quarterly dividend, an updated return of capital framework, the disposition of non-core assets, updated 2022 guidance and the release of its annual Sustainability Report. KEY HIGHLIGHTS Achieved near-term net debt target … Read more
Calgary, Alberta–(Newsfile Corp. – July 6, 2022) – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) is providing an operations update and changes to its capital expenditure budget for 2022. Energy related commodity prices during the first half of 2022 have increased substantially compared to the previous year. The global economy staged a recovery … Read more
Closed Viking Acquisition of approximately 4,000 boe/d resulting in current pro forma Company production of approximately 11,400 boe/d Initiated 140 well drilling program targeting average production by Q4 2023 between 13,950 to 14,550 boe/d, for implied growth in the range of 22% to 28% over current production levels Directing approximately 50% of future cash flow … Read more
July 6, 2022 ST. JOHN’S – Canada holds the resources, clean technology and experience to thrive in the global net-zero economy, creating prosperity and high-quality jobs for generations to come. Today, the Honourable Jonathan Wilkinson, Canada’s Minister of Natural Resources, addressed members of the St. John’s Board of Trade to highlight the energy and resource opportunities Atlantic Canada can seize to create sustainable jobs … Read more
July 6, 2022 CALGARY, AB – Entropy Inc. (“Entropy” or the “Corporation”), a subsidiary of Advantage Energy Ltd. (“Advantage”), is pleased to announce that it has begun commissioning its first post-combustion carbon capture and storage (“CCS”) project at the Glacier Gas Plant in Alberta, effective June 27, 2022. Commissioning of the first phase (47,000 tonnes per annum of CO2e (“TPA”)) … Read more
CALGARY — Tidewater Midstream and Infrastructure Ltd. has pleaded guilty to a charge related to the company’s release of acidic water in west-central Alberta in October 2019.
The Calgary-based company was charged in October 2021 with breaching environ…
July 6, 2022 CALGARY, AB – AltaGas Ltd. (“AltaGas” or the “Company”) (TSX: ALA) is pleased to announce the purchase of 25.97% equity ownership of Petrogas Energy Corp. (“Petrogas”) from Idemitsu Canada Corporation, a wholly owned subsidiary of Idemitsu Kosan Co., Ltd. (“Idemitsu”), for total cash considerations of C$285 million. The closing and effective date of the transaction is July 5, 2022, … Read more
BRUSSELS (AP) — European Union lawmakers voted Wednesday to include natural gas and nuclear in the bloc’s list of sustainable activities, backing a proposal from the EU’s executive arm that has been drawing fierce criticism from environment groups and…
CALGARY — Ovintiv Inc. has signed a pair of deals to sell portions of its assets located in the Uinta and Bakken Basins for total proceeds of approximately US$250 million.
The company says the Uinta Basin assets being sold are mature waterflood assets…
Shortages of the fuel are rippling throughout the global economy, threatening recessions and a further wave of inflationOne morning in early June, a fire broke out at an obscure facility in Texas that takes natural gas from U.S. shale basins, chills it into a liquid and ships it overseas. It was extinguished in 40 minutes … Read more
Jul 6, 2022 (Bloomberg) Russia appears on track for a much shallower recession than many forecasters initially expected this year, boosted by rising oil production that has blunted the impact of US and European sanctions over its war in Ukraine. Economists from JPMorgan Chase & Co., Citigroup Inc. and other big banks are slashing their … Read more
Jul 6, 2022 (Bloomberg) A strike by oil workers in Norway that threatened to have wider ramifications for Europe’s energy supply is heading for resolution after the government proposed a compulsory wage board to tackle the dispute. “The parties themselves are generally responsible for finding a solution in such instances,” Norway’s Minister of Labour and Social … Read more
(Bloomberg) Oil steadied around $100 a barrel, with Goldman Sachs Group Inc. arguing that a plunge driven by fears a recession will hurt demand was overdone. West Texas Intermediate rose 0.8%, while Brent added 1.5%. Those gains were small compared to Brent’s decline of more than $10 on Tuesday, its third largest ever in dollar terms. … Read more
OPEC Secretary-General Mohammad Barkindo, an oil industry veteran who steered the group through the creation of the OPEC+ alliance, has died in his native Nigeria. He was 63. Barkindo was in the final weeks of his six-year tenure as the top diplomat at the Organization of Petroleum Exporting Countries, where he headed its Vienna-based secretariat. … Read more
Jul 5, 2022 (Bloomberg) A key pipeline delivering Russia’s natural gas to Europe may not return to full capacity after planned maintenance this month, Goldman Sachs Group Inc. said, echoing the concerns of German officials.Nord Stream 1 is set to shut for works on July 11-21, tightening a market that’s seen prices soar in recent weeks. … 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. For producers in the WCSB, emissions reduction planning isn’t coming; it’s here. Whether … Read more
Canada has been striving to meet its environmental commitments, bolster its economy, and create a lower carbon energy sector. Reducing methane and other greenhouse gas (GHGs) emissions in the oil and gas sector is an important part of accomplishing this goal. The Government of Canada has committed to reducing methane emissions from the oil and … Read more
By Kenny Farrow, PhD, PE, P.Eng., Stress Engineering Services Canada Field Assessment The best approach to resolving you engineering challenges is not always in a laboratory – that is why we offer a wide array of field assessment services in several industry sectors. Our engineers and technicians are highly experienced in conducting field services in … 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. Benefits: More than Just a QR Code The DeReader QR … Read more
BY DEVIN LACEY, Senior Business Analyst at GLJ Hydrogen is the most abundant element in the universe, making up almost 75% of all matter. As a zero-emissions energy carrier, it stands to reason that as the world works to decarbonize our energy systems, the ability to tap into this vast resource would go a long … Read more
HD Visible and OGI Coverage Using a combination of our 360-degree optical camera and our OGI camera, we can simultaneously monitor your ECD’s for errant behavior. Dump Washouts Dump washouts are a common cause of ECD’s smoking. By detecting ECD emissions, you can avoid systemic (and more expensive) problems. Improve burner performance and save money … Read more
The weak links every business’ supply chains have been brought into the spotlight over the past two years. The global supply chain network is changing at lightning speed. With increasing competition and pressure to deliver goods faster and smarter, supply chain management needs to be ahead of the curve. Be part of the #supplychange community … Read more
Firebrand Insulation and Coatings in Calgary manufactures polyurethane insulation for the Oil and Gas sector. Our main product lines: Half shells for straight pipe, elbows and fittings. Custom valve covers. Custom housing for flanges. Why polyurethane? Better insulating values than fibrous insulation, therefore less insulating thickness required. High compressive strength provides excellent protection for your … Read more
Existing meters for measuring venting greenhouse gas (GHGs) emissions are insufficiently accurate or prohibitively expensive. As a result, there is little information on actual flow rates into the atmosphere from various industrial venting sources. It is essential to quantify these sources’ flow rates because they represent either methane being released to the atmosphere or negation … Read more
CALGARY — The $4.3-billion Heartland Petrochemical Complex, which has been under construction northeast of Edmonton since 2018, has produced its first plastic pellets.
Owner and operator Inter Pipeline Ltd. said Tuesday the newly commissioned facility…
July 5, 2022 The discount on Canadian heavy crude versus the West Texas Intermediate (WTI) benchmark widened on Tuesday as global benchmark oil prices fell heavily. Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, last traded at $20.25 a barrel below WTI, according to NE2 Group, widening 50 cents from … Read more
ST. JOHN’S, N.L. — Newfoundland and Labrador’s offshore oil regulator is laying charges in connection with a 2019 oil spill in the Hibernia field, which sits about 315 kilometres off the coast of St. John’s.
The Canada-Newfoundland and Labrador Offsho…
(Newsfile Corp. – July 5, 2022) – Suncor (TSX: SU) (NYSE: SU) will hold an Oil Sands Operations presentation on July 13, 2022 from 7:00 a.m. to 10:00 a.m. MT (9:00 a.m. to 12:00 p.m. ET). The presentation will focus on the company’s oil sands operations and providing updates on production and operational actions and … Read more
LONDON, July 5 (Reuters) – Oil prices slipped on Tuesday, reversing earlier gains, as concerns of a possible global recession curtailing fuel demand outweighed supply disruption fears, highlighted by an expected production cut in Norway. Brent crude fell $1.49, or 1.3%, to $112.01 a barrel by 1020 GMT. U.S. West Texas Intermediate (WTI) crude fell … Read more
SURREY, B.C. — FortisBC Energy Inc. says it will partner with Suncor Energy Inc. and Hazer Group Ltd. to build a hydrogen pilot project in Port Moody, B.C.
The $11-million pilot project will also be supported with grant funding from the provincial gov…
‘There simply is not enough LNG to meet demand’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter There’s a growing global shortage of liquefied natural gas (LNG) that’s expected to bring a sustained period of higher prices and extreme volatility, according to analysts with Oslo, Norway-based … Read more
Jul 4, 2022 (Bloomberg)Robust oil and gas prices mean healthy profits for Canadian energy firms but they remain reluctant to spend on new projects, says the nation’s central bank. Only about 40% of estimated cash flow is being allocated to capital investment this year, according to a survey and calculations published by the Bank of … Read more
OSLO, July 5 (Reuters) – Norwegian offshore workers on Tuesday began a strike that will reduce oil and gas output, the union leading the industrial action told Reuters. The strike, in which workers are demanding wage hikes to compensate for rising inflation, comes amid high oil and gas prices, with supplies of natural gas to … Read more
Brent prices could soar to a “stratospheric” $380 a barrel in “the most extreme scenario” of Russia slashing oil production by 5 million barrels per day (bpd) in retaliation to a price cap being considered by the Group of Seven, analysts at J.P.Morgan said in a note dated July 1. G7 economic powers agreed last … Read more
Investors continued to liquidate bullish long positions in petroleum last week as the economic outlook deteriorated though the rate of selling was much slower after heavy selling the week before. Hedge funds and other money managers sold the equivalent of 9 million barrels in the six most important futures and options contracts in the week … Read more
Canada’s energy sector is expected to raise capital investment after a surge in oil and gas prices, but it will be a more modest increase than during previous boom cycles, the Bank of Canada said in a quarterly survey on Monday. There are several factors holding back investments, with companies holding onto only around 40% … Read more
The discount on Canadian heavy crude versus the West Texas Intermediate (WTI) benchmark widened on Monday, the first day of the new monthly trading window. Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta last traded at $19.75 a barrel below WTI, according to NE2 Group, widening $1.35 from the previous … Read more
Calgary, Alberta – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company”) announces that it has repaid in full, all term debt and insider debt as of June 30, 2022. Pine Cliff is one of the first Canadian public oil and gas producers to be debt free. Pine Cliff also confirms that a monthly dividend of … Read more
Jul 4, 2022 (Bloomberg) A handful of shipowners still willing to transport Russian crude are reaping big rewards on at least one route as others shun the trade. Shippers can earn around $1.6 million hauling Russian ESPO oil on a small tanker from the eastern port of Kozmino to China, said shipbrokers. That’s around triple the amount … Read more
LONDON, July 4 (Reuters) – Investors continued to liquidate bullish long positions in petroleum last week as the economic outlook deteriorated though the rate of selling was much slower after heavy selling the week before. Hedge funds and other money managers sold the equivalent of 9 million barrels in the six most important futures and … Read more
July 4 (Reuters) – U.S. oilfield services companies Schlumberger (SLB.N), Baker Hughes (BKR.O) and Halliburton (HAL.N) have pledged to comply with a federal supreme court ruling and withdraw from Iraq’s Kurdistan region, the country’s oil ministry said in Baghdad. The companies have confirmed that they will not start new projects in the semi-autonomous Kurdistan region and are in the … Read more
CALGARY — Cathedral Energy Services Ltd. has signed a deal to buy the directional drilling services business of Altitude Energy Partners LLC in an agreement it valued at about US$100 million in cash and shares in a bid to grow its U.S. business.
Altit…
What is Energy Innovation Month? June’s Energy Innovation Month on EnergyNow was a month-long promotional campaign that featured some of the latest and greatest innovation, technology, and research from experts across the energy sector. Please review the list of presenters below and watch the ones you are most interested in. Each presentation is approximately 5 … Read more
Combustion processes are an integral operation in refineries, petrochemical, fertilizer, and power plants across the globe. Rising fuel costs and increasing competition are driving plants to adopt new techniques for measuring combustible gases with the goal of optimizing their combustion processes. Leading the pack is tunable diode laser (TDL) technology. A new generation of TDLs … Read more
Oil fluctuated as investors weighed concerns that a global slowdown will erode demand against still-solid physical market signals. West Texas Intermediate futures dipped below $108 a barrel, having earlier topped $109, with trading volumes curtailed by the US Fourth of July holiday. Crude has been buffeted over the past month by indications of an impending recession, … Read more
Canada’s oil patch expected to celebrate after two years of lockdowns The biggest party in Canada’s oil patch is staging a comeback this year, fuelled by soaring energy prices and a population eager to mark the end of two years of pandemic lockdowns.The 110 year-old Calgary Stampede is pulling out every nostalgic stop, from chuck … Read more
ACQUISITION ANNOUNCEMENT “Powell Valve specializes in valve sales, service, and support, and we are thrilled to welcome our new teammates to the Tundra family. With locations in Edmonton, Fort McMurray, and Lloydminster, Alberta, we’re excited to provide additional service and support to clients in Western Canada.” – Ashley Allers, Tundra Chief Executive Officer. Here is … Read more
A strong end to the 2021-22 fiscal year moves Alberta forward with continued economic growth, lower debt and increased savings. On this page: Related information Multimedia Thanks to a growing economy, strong energy prices late in the fiscal year and a commitment to fiscal discipline, Alberta ended the 2021-22 fiscal year with a surplus of … Read more
About Like most energy companies, your organization has invested in technology that supports its core operations. But with the world’s landscape rapidly evolving and shifting, there’s a strong need to implement newer and complementary tools to existing systems that meet the demands of today’s challenges. If you want your business to evolve, the way you … Read more
Summary This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine July 1 (Reuters) – President Vladimir Putin has signed a decree to seize full control of Sakhalin-2 gas and oil project in Russia that could force out Shell and Japanese investors, Moscow’s latest broadside in an economic … Read more
Canada’s TC Energy has agreed with Mexico to build a $5 billion gas pipeline in the Mexican Gulf Coast state of Veracruz, senior foreign ministry official Roberto Velasco said on Friday. Velasco was speaking at an event hosted by the Canadian embassy in Mexico City. The pipeline will connect the ports of Tuxpan and Coatzacoalcos, a … Read more
Renewables now account for 13 per cent of global power generation 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 … Read more
Lorrie Goldstein Originally published in the Toronto Sun Prime Minister Justin Trudeau’s second carbon tax — known as the Clean Fuel Standard — is the latest example of how his energy policies are drifting further away from reality, while punishing Canadians financially in the process. Starting next year, Trudeau’s Clean Fuel Standard alone, according to … Read more
U.S. energy firms this week cut the number of oil and natural gas rigs for the first time in five weeks even as crude production hit its highest in more than two years in response to tight worldwide supply and high prices. The U.S. oil and gas rig count, an early indicator of future output, … Read more
Move sets up a potential clash with the country’s hydrocarbon producing provinces The Clean Fuel Regulations aim to reduce emissions from motor fuels by 26.6 million metric tons by 2030, according to a statement from the Minister of Environment and Climate Change. The measures are similar to a program spearheaded by California decades ago, known … Read more
Canada’s East Coast has only enough natural gas supply to accommodate one new liquified natural gas (LNG) export facility, and the project that would boost shipments to Europe the fastest is Repsol’s, Canada’s environment minister told Reuters. In May, Canada said it was in talks with Spanish company Repsol’s LNG facility in New Brunswick and Pieridae … Read more
Canada’s drilling rig count increased 12 active drilling rigs according to data collected by Baker Hughes for the week ending July 1, 2022. From one week ago, Alberta rig counts increased 6 to 111 and the Saskatchewan rig counts increased 3 to 40. Oil drilling increased 5 to 109 and gas increased 7 to 57.
By Irina Slav More from Irina Slav The idea of the energy transition has been occupying a lot of my time and mental capacity lately so I thought I’d put together some thoughts on how we could do it more, shall we say, economically. 1. Improve tax collection: There’s always room for improvement here and it’s … Read more
(Bloomberg) Oil rose, reversing Thursday’s steep decline, as supply disruptions deepened in Libya. West Texas Intermediate added 1.6%, tipping it into a weekly gain. Libya’s oil exports have fallen to about a third of last year’s level after the worsening political crisis prompted the suspension of shipments from two of the nation’s biggest ports. Risk of weaker … Read more
OTTAWA, June 30, 2022 (GLOBE NEWSWIRE) — Renewable Industries Canada (RICanada), the country’s foremost coalition of producers of low carbon renewable fuels and clean technology, welcomes the Government’s release of the final Clean Fuel Regulations (CFR). The final CFR marks a major milestone in Canada’s ongoing efforts to decarbonize transportation and combat climate change sustainably. RICanada has … 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
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ENERGYNOW FEATURE: Why Energy Policy Is Becoming a Women’s Issue Across Canada