LONDON/MOSCOW, Aug 31 (Reuters) – The oil market will have a small surplus of just 0.4 million bpd in 2022, much less than forecast earlier, according to OPEC+, due to underproduction of its members, OPEC+ sources said. The report comes days ahead of an OPEC+ policy meeting on Sept. 5 and over a week after … Read more
By Franco Terrazzano There’s finally some good news for taxpayers: Instead of balancing the budget in 2070, the Parliamentary Budget Officer’s numbers now show Canadians can look forward to a balanced budget in only … wait for it … 20 years. Last year the Canadians Taxpayers Federation used PBO data to show the feds wouldn’t … Read more
by Michael Binnion Prime Minister Trudeau said there was no business case for LNG terminals on the East Coast of Canada. He noted with the German Chancellor looking on this might have changed. For many CEO’s in the Canadian oil and gas industry, this was a gut punch. We have collectively worked millions of hours … Read more
Notes from the coming energy crisis, by Stewart Muir and Margareta Dovgal – Resource Works More News and Views From Resource Works It’s been obvious for months that a global energy crisis was coming. Then on Monday, just when we thought things couldn’t get any worse, the chief executive of Shell predicted that Europe is … Read more
Aug 31, 2022 (Bloomberg) Oil headed for a third monthly drop, the longest losing run in more than two years, on concern that tighter monetary policy will hit growth and China presses on with its Covid Zero strategy.West Texas Intermediate fell as much as $4.09 a barrel from high to low on Wednesday, putting it on … Read more
Aug 30, 2022 (Bloomberg) Canada’s current account surplus came in much less than expected, as rising oil profits to foreign investors offset a surge in energy revenue. The country ran a current account surplus of C$2.7 billion ($2.1 billion) in the second quarter, Statistics Canada reported on Tuesday, well short of the C$6.8 billion projected by … Read more
Summary Outage for maintenance on Nord Stream 1 pipeline No flows to Germany 0100 GMT, Aug. 31 – 0100 GMT, Sept. 3 European governments fear Moscow could extend the outage German regulator: we are saving gas, must keep doing so Siemens Energy: not involved in maintenance work FRANKFURT/LONDON, Aug 31 (Reuters) – Russia halted gas … Read more
Aug 31 (Reuters) – Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Canada’s Atlantic coast. Surging oil prices are encouraging the investments, along with Europe’s mounting energy demand as the Ukraine-Russia war drags … Read more
BERLIN, Aug 31 (Reuters) – Flows on the Nord Stream 1 pipeline to Germany via the Baltic Sea fell back to zero on Wednesday afternoon after a slight bump in supply was reported earlier in the day. Physical flows had risen to 115,111 kilowatt hours per hour (kwh/h) at 0900-1000 CET and then 119,983 kwh/h … Read more
Natural Law Energy is seeking $50 million in compensation for lost income and lost opportunities Bloomberg News An Indigenous-backed energy company is seeking $50 million (US$38.2 million) from pipeline operator TC Energy Corp. after a falling out between partners on the now-abandoned Keystone XL project. Natural Law Energy Inc., a group representing a number of … Read more
Superheat SmartWay™ truly is the smartest way to handle your on-site heat treatment projects. It integrates remote operation technology and equipment advancements with digital project management and quality assurance platforms to produce the most efficient, state-of-the-art, on-site heat treatment solution. By using SmartWay you will reduce costs, save time, minimize risk, and improve quality on … Read more
The push from government and regulators to reduce emissions continues to grow, and the energy industry is feeling pressure to innovate or adapt to survive. We are seeing industry shift towards solutions such as carbon credits, green technology, low emission strategies. With stricter legislation and stiffer emission penalties industry needs a technology to precisely measure … Read more
Photo: Mechanical Torque Wrench stripped down for cleaning and calibration Many factors go into making sure your torque wrench is accurate. Besides, the basic rules on tool handling there are two important methods to doing this: calibration and validation. This article will discuss the differences between these two methods and help you understand how both … Read more
Northern Mat & Bridge (NMB) is Canada’s first choice in providing safe, cost-effective temporary access solutions for any industry, including Power Transmission and Distribution, Pipeline, Oil & Gas, Emergency Response, Renewable Energy, Forestry, Mining, and General Construction. We have great products and services with passionate employees that truly make the difference. “If a picture is … Read more
Bitumen is produced from the Canadian oil sands by a variety of techniques, predominately mining or steam assisted gravity drainage wells. It is a high molecular weight, complex hydrocarbon that has a very high viscosity. At 30⁰C, it is not uncommon to see viscosity in the 100,000 cP range, which is about the consistency of … Read more
OTTAWA — Alimentation Couche-Tard Inc., which has signed a deal to buy the Wilsons chain of gas stations in Atlantic Canada, has reached an agreement with the Competition Bureau to resolve its concerns over the acquisition.
The federal competition reg…
EDMONTON — Alberta Premier Jason Kenney says the province is on track for a $13.2-billion surplus in this budget year.
It’s an exponential escalation from the $511-million surplus forecast when the provincial budget was introduced in February.
“Of c…
Targeting smaller projects, but the window to build new terminals is narrow: Reuters This time, companies are focusing on smaller west coast projects they bet will be cheaper and faster to build. “Smaller project are easier to manage, especially in Canada,” Enbridge chief executive Al Monaco told Reuters in an interview. “The need for global … Read more
Why are the U.S. and Canada refusing to ramp up oil and gas production? More from Michael Shellenberger In the weeks that immediately followed Russia’s invasion of Ukraine, President Joe Biden and Canadian Prime Minister Justin Trudeau appeared committed to expanding oil and gas production at home to help their allies abroad. Biden announced that the U.S. … Read more
August 30, 2022 Saudi Arabia appears to have been largely successful in talking up the price of crude oil by publicly mulling output cuts, but the risk is that the disconnect between paper and physical markets could widen even further. Global benchmark Brent crude futures were trading around $104.28 a barrel early in Asia on … Read more
August 30, 2022 Nothing stands on the way of Russian gas exports to Europe via the Nord Stream 1 pipeline apart from technological problems caused by Western sanctions, Kremlin spokesman Dmitry Peskov said on Tuesday, a day before another planned maintenance shutdown. Russian energy giant Gazprom has announced it will shut the pipeline for three … Read more
BERLIN (AP) — Germany is well-prepared to tackle a possible energy shortage due to Russia’s squeeze on European gas supplies, Chancellor Olaf Scholz declared Tuesday, even as fears grow about the rising prices that will hit consumers across the contin…
Summary Gazprom lowers supply to France’s Engie on Tuesday Nord Stream 1 pipeline to be shut Wed-Fri for maintenance European energy ministers to hold emergency meeting on Sept. 9 Europe front-month gas contract hit all-time highs last week PARIS, Aug 30 (Reuters) – France on Tuesday accused Moscow of using energy supplies as “a weapon … Read more
Aug 29, 2022 (Bloomberg) European oil major Shell Plc cautioned that Europe may have to brace for a string of winters with exorbitant power bills and electricity rationing as Russia squeezes gas supplies. “It may well be that we have a number of winters where we have to somehow find solutions through efficiency savings, through rationing … Read more
Aug 30, 2022 (Bloomberg) European energy prices plunged on signs that the region is stepping up efforts to curb a crisis that threatens to tip the region into recession with winter approaching. German power for next year plunged as much as 26%, while Dutch natural gas fell as much as 11%. Both benchmark contracts extended losses … Read more
Aug 30, 2022 (Bloomberg) Oil moved below $96 a barrel, retreating from its biggest gain in more than a month as traders weighed potential supply disruptions, including the possibility of an OPEC+ output cut. West Texas Intermediate pared a little less than half of Monday’s price jump — the biggest one-day rise in six weeks … Read more
Aug 29, 2022 (Bloomberg) Debt to finance companies’ plans to reduce pollution is likely the next phase in the environmental, social and governance-labeled debt markets in Canada, one of the world’s largest oil and natural gas producers. Several companies are laying the groundwork to issue transition bonds by building frameworks, which typically detail criteria and investor … Read more
Fuelled Auctions is pleased to announce our next auction. The auction will be a no/low reserve online auction commencing August 29thth, 2022, and ending August 31st, 2022. Register for and view the auction here: Fuelled Auctions – August 2022 This auction will focus on the sale of various high-quality USED & UNUSED assets located in … Read more
WASHINGTON — For the second time in a year, the federal government is invoking a little-known 1977 energy treaty between Canada and the United States in an effort to prevent a federal court from shutting down the Line 5 pipeline.
This time, it’s in W…
Geoffrey Cann An oft-identified barrier to adopting digital innovations in oil and gas is that the data is too ‘dirty’. But is it true? The Dirty Data Speedbump I was delivering a presentation this past week to an oil and gas concern about digital adoption drawn from my first book, and a question from the … Read more
By David Yager August 29, 2022 Natural gas has become one of the world’s most valuable commodities due to a combination of climate policies, underinvestment, and Russia’s invasion of Ukraine. European gas is at the highest price in history. On August 25 Dutch TTF gas closed at US$94.20 per MMBtu, about $120.77 in Canadian dollars. … Read more
(Bloomberg) Prime Minister Justin Trudeau faces growing pressure to help Canadian households offset surging inflation as he meets with his cabinet in Vancouver next week to set his government’s fall agenda. Unlike many of his global peers, Trudeau has avoided taking new measures recently to ease the burden of rising prices, even with inflation at its … Read more
Aug 29, 2022 (Bloomberg) The world needs more oil and gas now to deal with an energy shortage while pushing to transition to renewable supplies, Tesla Inc. Chief Executive Officer Elon Musk said. “At this time, we actually need more oil and gas, not less,” Musk said Monday during an energy conference in Norway, adding that … Read more
Aug 29 (Reuters) – Canada is taking a second crack at developing a liquefied natural gas (LNG) export industry on its west coast a decade after soaring costs and indigenous opposition derailed a previous wave of proposed LNG terminals. This time, companies are focusing on smaller west coast projects they bet will be cheaper and … Read more
NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/ CALGARY, AB, Aug. 29, 2022 /CNW/ – Highwood Asset Management Ltd., (“Highwood” or the “Company“) (TSXV: HAM) is pleased to announce financial and operating results for the three and six months ended June 30, 2022. The Company also announces that its unaudited financial statements and associated Management’s Discussion and … Read more
August 29, 2022 CALGARY, AB – Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today the renewal of its Normal Course Issuer Bid (“NCIB”). Gibson’s Board of Directors has approved a renewal of the Company’s NCIB, and the Toronto Stock Exchange (the “TSX”) has accepted Gibson’s notice of intention to commence its NCIB for an … Read more
REGINA, SK – ROK Resources Inc. (“ROK” or the “Company“) (TSXV:ROK) has filed its interim Financial Results and Management Discussion & Analysis for the three and six months ended June 30, 2022. Financial and Operating Highlights In Q2 2022, the Company realized production volume of 277,877 total boe (3,054 boe/d), resulting in crude and natural gas … Read more
(Bloomberg) The energy crisis that’s sent inflation soaring across the world is getting worse each week, leaving stock traders with a challenge to figure out where to put their money. The nightmare scenario that’s developed this year has already walloped equities, which suffered a bruising first half. A rally over the summer helped to reduce … Read more
Aug 29, 2022 (Bloomberg) Oil climbed as traders weighed risks to the supply outlook against pledges from leading central banks to raise interest rates further.West Texas Intermediate rose toward $94 a barrel, reversing an earlier decline, after gaining 2.5% last week. In Libya, clashes between militias in the capital left at least 23 dead, sparking fears of … Read more
CALGARY, ALBERTA, Aug. 29, 2022 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSXV: MAH) is pleased to announce the following update to its drilling program: Pickaway County, Ohio – Marksmen, as part of its continuing agreement with its long-term partner, Houghton Investments LLC (“Houghton”) will drill three additional Cambrian Knox Davis Holbrook offset … 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
AMGAS CLEAR leverages our patented mechanical intervention technologies to deliver the best possible solution. The versatility of CLEAR provides the opportunity to reduce or eliminate the associated risks typically found with traditional treatment options. CLEAR offers a smaller footprint size in comparison to crude sour oil stripping facilities, as well as modular capabilities if scale-up … Read more
Blink, and we’re done, July! We’ve seen explosive growth this year. New locations New teammates New products New services Whilst maintaining our heart-centered culture. Here is a quick little recap by our VP of Sales & Marketing, @Martin Socha. We are looking forward to seeing what the next 6 months bring us! https://surepoint.ca/
With summer coming to an end, it’s important to look ahead to what the fall will bring, and if your company will have the cash flow to meet the demand for your products and services. Fall is typically a busy period in the Energy Sector and many companies may find themselves without liquidity when starting … Read more
Today’s power plants face many difficult challenges, including maintaining and managing water / steam chemistry measurements within safe parameters. Long-term efficient power generation requires careful surveillance to guard against corrosive and depositing conditions and to ensure conformance with industry guidelines. On-line analytics from METTLER TOLEDO provide accurate and reliable measurements that power plant operators can … Read more
What applications offer significant benefits when implementing digital transformation at oil and natural gas producers? This article explores application opportunities that deliver digital transformation benefits. The previous article described systems and data issues that digital transformation can resolve or reduce at oil and natural gas producers. You can read it at this link. Identifying digital … Read more
Canada is letting down its allies and losing money by not encouraging LNG investment Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Prime Minister Justin Trudeau isn’t optimistic about LNG exports to Europe because he says there’s no business case. Even though the Chancellor of Germany just came to Canada … Read more
Decisions should be left to Indigenous communities, but Ottawa must facilitate the opportunity By Joseph Quesnel Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter When it comes to Indigenous self-determination, equity partnerships are the wave of the future. For real Indigenous ownership of a project, they come closest … Read more
Canada’s drilling rig count stayed at 201 active drilling rigs according to data collected by Baker Hughes for the week ending August 26, 2022. From one week ago, Alberta rig counts decreased 1 to 142 and the Saskatchewan rig counts increased 1 to 42. Oil drilling decreased 1 to 136 and gas increased 1 to … Read more
Aug 26 (Reuters) – Energy firms this week increased the number of U.S. oil and gas rigs but cut the count in August for the first time in 25 months, even as oil prices remain relatively high. The oil and gas rig count, an early indicator of future output, rose three to 765 in the … Read more
Learn how Canadian oil and gas is part of the solution for the world’s long term energy needs Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Reclamation work in Alberta’s oil sands. Photo courtesy Cenovus Energy Canada’s oil and gas industry is innovating to reduce greenhouse gas emissions … Read more
By Vista Projects In today’s volatile energy market, cost control is on top of every asset owner’s mind. And the pressure to reduce costs has created new opportunities for execution strategies from other markets. This article reviews a recent example of our engineering consulting work with a global chemical processor. The client agreed to have … Read more
August 25, 2022 German Chancellor Olaf Scholz visited Canada this week, hoping a democratic G7 ally would one day ship his country liquefied natural gas to replace Russian gas imports, but the response he got from the world’s fifth-largest producer was not to count on it. Environmental and regulatory hurdles to gas pipeline construction are … Read more
August 25, 2022 MONTREAL – In response to remarks by Prime Minister of Canada Justin Trudeau, made during German Chancellor Scholz’s recent visit to Canada, that there needed to be a business case for Canada to export natural gas to Europe, Mario Levesque, CEO of Utica Resources said: “The business case for Quebec gas is … Read more
(Bloomberg) Oil rose this week with Saudi Arabia’s warning that supply cuts may be warranted overshadowing multiple bearish developments.West Texas Intermediate futures settled at $93.06 a barrel on Friday for a 2.5% weekly gain. Prices have been buoyed since the Saudi oil minister said the OPEC+ alliance may limit production to stabilize a volatile market. Meanwhile, the US … Read more
St. Albert, Alberta–(Newsfile Corp. – August 26, 2022) – Enterprise Group, Inc. (TSX: E) (“Enterprise” or the “Company“) announces that the Toronto Stock Exchange (“TSX“) has accepted its notice of intention to renew its normal course issuer bid to purchase outstanding common shares of the Company (“Shares“) on the open market in accordance with the … Read more
Aug 26 (Reuters) – The Canada Energy Regulator (CER) said work was stopped at the TC Energy’s (TRP.TO) NGTL Edson Mainline work site near Caroline, Alberta, after it was notified of a serious, non-fatal injury on Thursday. The NGTL System transports natural gas from Alberta and northeastern British Columbia and connects with TC Energy’s Canadian Mainline, … Read more
Aug 25, 2022 (Bloomberg) Short the UK pound and buy currencies from commodity exporters, such as the Canadian dollar, is a trading strategy recommended by Jefferies Financial Group Inc. Strategists at the bank are telling clients that there’s still time to profit from the economic upheaval being caused by skyrocketing energy prices. Even though the pound … Read more
August 25, 2022 CALGARY, AB – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL) (NYSE: PBA) today announced that it has named Cameron Goldade as the Company’s Chief Financial Officer. This appointment concludes the previously announced executive search process undertaken by the Company. Mr. Goldade was appointed the Company’s interim CFO in November 2021 and previously … Read more
August 25, 2022 16:01 ET | Source: Petrus Resources Ltd. CALGARY, Alberta, Aug. 25, 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 … Read more
August 25, 2022 CALGARY, Alberta, Aug. 25, 2022 (GLOBE NEWSWIRE) — Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) announces its second quarter 2022 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s unaudited interim condensed consolidated financial statements and management’s discussion and … Read more
OTTAWA — Parkland Corp. and Federated Co-operatives Ltd. have signed agreements with the Competition Bureau, which had raised concerns about their acquisition of 337 Husky retail gas stations.
The regulator says the agreements will help protect consum…
In a dramatically changed world, resource corridors could be the catalyst to actually getting something done in Canada David Yager Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter One of the best ideas that has gone nowhere is the creation of resource corridors for long-distance transportation infrastructure using … Read more
CWF Arthur J.E. Child POP UP POLICY Canada West Foundation Webinar Monday, 29 August, 2022 1:00 pm to 2:00 pm (MDT) REGISTER The Federal Fertilizer Policy Straight talk on emissions reduction, sustainable farming practices and food production In 2020 the federal government introduced a target to cut fertilizer emissions by 30 per cent over the … Read more
August 25, 2022 CALGARY, AB – Kiwetinohk Energy Corp. (TSX: KEC) has entered into an agreement to acquire an additional 28.5% average working interest in Kiwetinohk-operated Montney assets in the Placid area for total cash consideration of $61.4 million (purchase price net of adjustments is approximately $59 million) (the Acquisition). The Acquisition includes 1,200 boe/d (45% oil & liquids) of current Montney production and increases … Read more
(Bloomberg) OPEC’s united front on possible action grew stronger, as more nations endorsed Saudi Arabia’s view that supply curbs may be needed to stabilize world oil markets. Within 48 hours of comments from Saudi Arabian Energy Minister Prince Abdulaziz bin Salman that OPEC might have to curtail production, fellow members Iraq, Algeria, Kuwait, Equatorial Guinea and Venezuela … Read more
(Bloomberg) Oil held gains as falling US stockpiles and the possibility of OPEC+ cutting output heighten the prospects of an increasingly tight market. Brent futures traded near $102 a barrel. There have been a deluge of bullish headlines recently, with Saudi Arabia suggesting that OPEC+ could intervene if prices drop too far. US inventories fell last … Read more
(Bloomberg) European and Asian natural gas prices surged to near record highs as the worst energy crisis in decades intensified competition to secure supplies. The Dutch front-month contract, the European benchmark, jumped as much as 13% on Wednesday to levels last seen in the weeks following Russia’s invasion of Ukraine. Asian liquefied natural gas futures rallied … Read more
Summary Russia and Ukraine have been at war for 6 months Armies have been locked in grinding war of attrition No immediate prospect of meaningful peace deal Europe is facing a winter energy squeeze Russia hopes that will drain support for Kyiv -sources LONDON, Aug 24 (Reuters) – Cold winters helped Moscow defeat Napoleon and … Read more
CALGARY — Prime Minister Justin Trudeau and German Chancellor Olaf Scholz signed a deal this week to help kick-start a transatlantic hydrogen supply chain, with the first deliveries expected by 2025. Here’s a quick look at hydrogen and the opportuniti…
22 Aug Is Canadian Hydrogen A Solution To European Gas Woes? Hydrogen is suddenly the sexiest commodity on earth, with even staid German statesmen visiting Canada of all places to ask for a piece of the action. This week’s article focuses on hydrogen, and not digital, as I had to get a few things off … Read more
Prime Minister Trudeau’s skepticism is misleading By CEC Staff Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Prime Minister Justin Trudeau’s reported skepticism about the business case for Canada to accelerate liquefied natural gas (LNG) exports to Europe and the world is misleading to Canadians. It also goes against the statements of … Read more
A global energy shortage largely brought on by the pandemic and underinvestment in the oil and gas sector continues to grip nations worldwide. Exacerbated by the war in Ukraine, European Union member states are bracing for further cuts to natural gas supplies by Russia. Meanwhile, some Asian nations are experiencing rolling 12-hour blackouts as liquefied … Read more
OTTAWA, Ontario – Greg McLean, Conservative Shadow Minister for Natural Resources released the following statement, after a U.S. district court judge ruling supporting Enbridge’s position in their legal conflict with certain elected officials in the state of Michigan and their latest effort to halt Line 5 pipeline: “Last week, Enbridge once again emerged with a victory … Read more
Aug 23, 2022 (Bloomberg) Canada intends to start shipping green hydrogen produced by wind farms to Germany by 2025, the first step in a partnership to help Europe’s biggest economy reduce its reliance on fossil fuels.Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz signed a five-year hydrogen accord on Tuesday in Newfoundland and Labrador, … Read more
What systems and data issues can digital transformation resolve or reduce? This article describes multiple issues that digital transformation can attack. In the previous article, I introduced the digital transformation concept and its benefits for the oil and gas industry. You can read it at this link. Digital transformation can help many oil and natural … 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, Aug. 24, 2022 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on recent comments by the Prime Minister of Canada on the potential for LNG … Read more
Offtake MoUs signed by EverWind shall secure the sale of one million tonnes per annum of green ammonia from EverWind’s Point Tupper facility August 23, 2022 HALIFAX, Nova Scotia, Aug. 23, 2022 (GLOBE NEWSWIRE) — EverWind Fuels Company (“EverWind”), a private developer of green hydrogen and ammonia production founded by infrastructure veteran Trent Vichie, co-founder of … Read more
Strong balance sheet, cost control and disciplined allocation of capital support HEVI’s ongoing strategy execution CALGARY, Alberta, Aug. 23, 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, today announced the filing of our unaudited financial results for the three-and … Read more
Aug 24, 2022 (Bloomberg) Oil rallied for a second day as an industry report signaled another drawdown in US crude inventories, adding to a tightening supply outlook after Saudi Arabia flagged possible cuts to production. Brent futures rose 1.4% to trade above $101 a barrel in London. The American Petroleum Institute reported crude stockpiles dropped … Read more
Many commercial leases contain a clause whereby a Tenant, at the end of their lease, could be obligated to return their premises to the Landlord in “base building” condition. This clause means that the Tenant could be required, at their expense, to remove not only their furniture and trade fixtures but all leasehold improvements, including … Read more
Temperature control is critical for many industrial processes and equipment such as safety showers, eyewash stations, process lines, hydraulic and lube oil systems, pumps, piping, and valves. Temperature changes can affect fluid viscosity in equipment and can cause fluid to freeze or overheat. SPS West is the exclusive distributor for ThermOmegaTech’s industry-leading self-actuating Thermostatic Temperature … Read more
At Muddy Boots we believe that having one piece of software that handles many facets of the operation is very cost-effective. With an integrated platform for operations software, you have: One system instead of many, saving you money All your data in one place, increasing data accuracy and saving you time All staff using the … Read more
Favourable fiscal and regulatory terms critical to the adoption of low-emitting technologies that mitigate oil sands NZE risk By Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Worker at Imperial Oil’s Kearl oil sands project. Photo courtesy Imperial Oil To sign up to receive the latest Canadian … Read more
North American liquefied natural gas (LNG) developers and producers this year have struck deals to sell 48 million tonnes of LNG, which will eventually pump up exports 60% from current levels, although much of the output remains years away. LNG demand is soaring as the conflict in Ukraine pushes global prices to their highest in … Read more
Potential OPEC+ production cuts mooted this week by Saudi Arabia may not be imminent and are likely to coincide with the return of Iran to oil markets should it clinch a nuclear deal with the West, nine OPEC sources told Reuters on Tuesday. De facto OPEC leader Saudi Arabia on Monday flagged the possibility of … Read more
North American liquefied natural gas (LNG) developers and producers this year have struck deals to sell 48 million tonnes of LNG, which will eventually pump up exports 60% from current levels, although much of the output remains years away. LNG demand is soaring as the conflict in Ukraine pushes global prices to their highest in … 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
Aug 23, 2022 (Bloomberg) Oil rose near $92 a barrel in New York after Saudi Arabia said OPEC+ may be forced to cut production to stabilize a volatile market.“Extreme” volatility and a lack of liquidity mean futures are increasingly disconnected from fundamentals, Saudi Oil Minister Prince Abdulaziz bin Salman told Bloomberg. That put a floor under prices … Read more
Aug 23, 2022 (Bloomberg) US natural gas prices rose above $10 per million British thermal units for the first time since 2008, extending a scorching rally driven by persistent concern that global stockpiles of the heating and power-plant fuel aren’t enough to meet winter demand. Gas prices have surged all over the world after Russia’s invasion … Read more
Aug 22, 2022 (Bloomberg) The Lucid Air Dream Edition travels up to 520 miles on a charge, more than any electric vehicle on the market by a wide margin. If a buyer chooses the larger, 21-inch wheels, however, 39 of those miles vanish — a 7.5% range penalty.To be fair, the bigger shoes do look cool, and they’ll … Read more
(Bloomberg) Prime Minister Justin Trudeau said Canada would be willing to consider easing the regulatory burden on new gas export facilities to Europe, while indicating the business case for investments may be a difficult one. Speaking to reporters in Montreal at a joint press conference with German Chancellor Olaf Scholz, Trudeau said the challenge is … Read more
August 22, 2022 Saudi Arabia’s Energy Minister said OPEC+ has the means and flexibility to deal with challenges, including by cutting oil output, state news agency SPA reported on Monday, citing comments Prince Abdulaziz bin Salman made to Bloomberg. The minister also said that paper and physical markets had become increasingly disconnected, and that a … Read more
Canada is exploring ways to see if there is a business case to export liquefied natural gas (LNG) directly to Europe from its east coast, Prime Minister Justin Trudeau said on Monday.Speaking alongside German Chancellor Olaf Scholz in Montreal, Trudeau said “we will do what we can” to contribute to the global supply of energy … Read more
U.S. natural gas futures jumped by more than 5% on Monday to within touching distance of the key $10 per mmBtu level, with gains driven by a strong demand outlook, record prices in Europe and concerns over availability of the fuel. Front-month gas futures rose 34 cents, or 3.6%, to $9.676 per million British thermal … Read more
Aug 22, 2022 (Bloomberg) Oil fell at the start of the week with investors weighing the prospect for more Iranian supply as the outlook for economic growth weakens. Brent futures lost as much as 2.3% and were trading near $95 a barrel. President Joe Biden spoke Sunday with leaders from France, Germany and the UK about … Read more
LONDON, Aug 22 (Reuters) – OPEC+ produced 2.892 million barrels per day (bpd) below their targets in July, two sources from the producer group said, as sanctions on some members and low investment by others stymied its ability to raise output. Compliance with the production targets stood at 546% in July the sources said, compared … Read more
Kuopion Energia is using the MCS200HW multi-component analyzer system to monitor its emissions. The old testing system installed in the stack has been replaced by a new analyzer system with sampling capability that is significantly more versatile and low maintenance in operation. This enables the Finnish city of Kuopio to be reliably supplied with heat … Read more
Computer chips, toilet paper, breakfast cereal. Auto parts, running shoes, and pipe. Yes, pipe too. Everything is affected by supply chain issues these days, and it’s not getting better any time soon. While our purchasing people are working hard with global suppliers, there is definitely a supply squeeze on the pipes we bend and fabricate … Read more
Courtesy of Energy Monitor Headwinds: favourable for wind turbines but nothing short of a bad time for the wind industry. What happened: Wind companies are quietly sobbing watching the endless parade of “record” profits from oil and gas companies. Looking at you, Saudi Aramco… On the other side, where the grass and balance sheets are decidedly less … Read more
German Chancellor Olaf Scholz receives Canadian Prime Minister Justin Trudeau in Berlin, Germany, March 9, 2022. REUTERS/Michele Tantussi/File Photo BERLIN, Aug 20 (Reuters) – Shortly before his two-day trip to Canada, German Chancellor Olaf Scholz received support for his interest in Canadian liquid natural gas to help replace Russian gas imports from an unexpected ally: … Read more
Summary Canada and Germany to ink agreement on hydrogen on Tuesday East Coast LNG still being discussed, but timeframe is tight German carmakers to attend; much interest in critical minerals OTTAWA, Aug 19 (Reuters) – Providing clean hydrogen to Germany and the rest of Europe is a better opportunity for Canada than trying to build … Read more
Aug 19 (Reuters) U.S. energy firms this week cut the number of oil and natural gas rigs for a third week in a row even as they slowly increase production to pre-pandemic levels with shale oil output expected to hit its highest since March 2020. The U.S. oil and gas rig count, an early indicator … Read more
Canada’s drilling rig count stayed at 201 active drilling rigs according to data collected by Baker Hughes for the week ending August 19, 2022. From one week ago, Alberta rig counts increased 1 to 143 and the Saskatchewan rig counts decreased 1 to 41. Oil drilling stayed at 137 and gas stayed at 64.
Recently, the House of Commons Standing Committee on Foreign Affairs and International Development held hearings after our government’s capitulation on Russian sanctions. Instead of admitting to the consequences of these actions, the Liberal government continues to try and pivot on narratives – no matter how far from reality. With some pressure from Germany and the … Read more
OTTAWA — As German Chancellor Olaf Scholz is set to arrive in Canada on Sunday, Prime Minister Justin Trudeau is facing renewed calls from Ukraine to cancel a permit allowing turbines repaired in Montreal to be sent back to a Russian energy giant.
Sch…
Aug 18 (Reuters) – Canada’s oil sands mining industry on Thursday outlined proposals to release treated water from tailings ponds into northern Alberta’s Athabasca River, a move environmental groups say risks damaging one of the world’s largest freshwater deltas. Unlike other extractive industries in Canada, oil sands firms are not allowed to release treated tailings … Read more
Aug 19, 2022 (Bloomberg) Gazprom PJSC will stop delivering natural gas to Europe through its main pipeline for three days, further squeezing energy supplies just as Germany is trying to build up stocks for the winter.European benchmark futures soared as much as 9% after the Russian producer said it won’t ship any gas to Germany via … Read more
OTTAWA – Prime Minister Justin Trudeau is hinting that an energy pact planned between Canada and Germany will focus more on Canada’s aim to be a long-term clean energy supplier to the world. Trudeau is set to sign an energy development agreement largely focused on hydrogen with German Chancellor Olaf Scholz during Scholz’s visit to … Read more
MOSCOW (AP) — Russia’s state-owned energy company Gazprom said on Friday a key pipeline conveying natural gas to Europe will shut down for three days at the end of this month to undergo “routine maintenance.”
In a statement posted online…
OTTAWA — An energy pact between Canada and Germany expected to be signed next week in Newfoundland and Labrador will set aggressive timelines and targets for exporting hydrogen to Germany, Natural Resources Minister Jonathan Wilkinson said Friday.
Whi…
Oil fell for the week as lingering concerns over a global economic slowdown overshadowed signs of improving US demand. West Texas Intermediate futures edged higher Friday in a choppy session but not enough to erase steep losses earlier in the week. Traders reported some pre-weekend liquidation with uncertainty around Iran’s supplies as the European Union … Read more
LONDON, Aug 18 (Reuters) – A recent oil-price slide reflects fears of economic slowdown and masks physical market fundamentals, OPEC’s new secretary general told Reuters, as he took a relatively optimistic view on the outlook for 2023 as the world tackles rising inflation. Haitham al-Ghais, who took office on Aug. 1, said oil demand was … Read more
LONDON, Aug 19 (Reuters) – Britain faces a “humanitarian crisis” this winter when the difficult choices forced upon low-income households by soaring energy bills could cause serious physical and mental illness, a healthcare lobby group said on Friday. Prime Minister Boris Johnson has resisted calls to provide more support to households struggling with higher bills, … Read more
(Bloomberg) Europe’s carbon price jumped to a record as the region’s energy crisis is driving up demand for some of the most polluting fuels. Businesses are burning coal and even oil to keep power stations and factories running while cleaner-burning natural gas becomes increasingly scarce. The situation threatens to push up Europe’s carbon footprint this year … Read more
Aug 19, 2022 (Bloomberg) Germany’s push to find alternative sources of gas and end its dependence on Russia has yielded limited success and there is no short-term relief in sight ahead of Chancellor Olaf Scholz’s trip to Canada starting Sunday.The North American nation is one of the world’s biggest gas producers and Scholz will discuss closer … Read more
CALGARY, Alberta, Aug. 19, 2022 (GLOBE NEWSWIRE) Prospera Energy Inc. PEI: TSX-V; OF6A: FRA Second Quarter 2022 Highlights: In the second quarter of 2022, the renewed Prospera is pleased to realize milestone positive Net Income and EBITDA in Q2 2022, supported by robust commodity pricing. PEI continued to execute the restructuring objectives of production optimization, compliance, and ARO … Read more
Calgary, Alberta–(Newsfile Corp. – August 18, 2022) – Saturn Oil & Gas Inc. (TSXV: SOIL) (FSE: SMKA) (“Saturn” or the “Company“) is pleased to report its financial and operating results for the three and six months ended June 30, 2022. “Saturn’s high quality, light oil production base was complimented in the second quarter of 2022 … Read more
by Irina Slav More From Irina Slav We all know there’s an energy crisis out there, ravaging most of Europe (I am confident Lichtenstein and Monaco are doing well, though I may be wrong), the developing world and, though to a lesser extent, the U.S. and Canada. We all know this energy crisis has caused … Read more
Southwestern Ontario communities remain proud of their historic role in ushering in new energy era By Dave Chidley and Mario Toneguzzi Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter For many Canadians it can come as a surprise to learn the earliest roots of North America’s oil industry doesn’t lead … Read more
by Alexis Pappas The province can become a premium exporter of the world’s best low-emissions fuels and carbon credits by leveraging blockchain technologies and digital assets. The energy transition is one of the greatest economic shifts that humanity has ever experienced. While it may be a little hyperbolic, US Special Presidential Envoy for Climate John … Read more
WASHINGTON — A judge in Michigan has ruled in favour of Enbridge Inc. in the company’s long-running dispute with the state over the Line 5 cross-border pipeline.
In her ruling, Judge Janet Neff says the case belongs in federal court — a blow to Michi…
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
UCP candidates Brian Jean, Danielle Smith, Rebecca Schultz and Todd Loewen are confirmed to participate in a forum that will see the hopefuls sharing their views on the future of Alberta’s oil sands, how Alberta fits into a much need Canadian energy policy and how our province adjusts in a net zero future. A UCP … Read more
Policymakers, lawmakers and insufficient oil and gas sector investments are to blame for high energy prices, not OPEC, Secretary General Haitham Al Ghais told Reuters on Thursday. A lack of investment in the oil and gas sector following a price slump sparked by COVID-19 has significantly reduced OPEC’s spare production capacity and limited the group’s … Read more
August 18, 20222 CALGARY, AB, Aug. – Pacific Canbriam Energy Limited (“Pacific Canbriam” or “the Company”) is pleased to announce that it has completed the acquisition of 47,025 net acres of Montney rights in the Altares, Attachie, and Portage areas of northeast British Columbia. The acquisition increases the Company’s total Montney land holdings to 224,805 net acres … Read more
Germany’s Chancellor Olaf Scholz will sign a deal to establish hydrogen supply chains with Canada during his two-day visit to the country next week, officials said, as Berlin accelerates its green transition to reduce dependence on Russian gas supplies. With fears that Russia could completely shut down already heavily reduced gas flows in retaliation for … Read more
CALGARY, Alberta – Crew Energy Inc. (TSX: CR; OTCQB: CWEGF) (“Crew” or the “Company“), a growth-oriented natural gas weighted producer operating exclusively in the world-class Montney play in northeast British Columbia (“NE BC”), announced today that we have successfully completed the sale of certain non-core assets at Attachie and Portage in NE BC for gross proceeds of $130 … Read more
Kitselas Geothermal Inc. (Kitselas Geothermal), a majority owned Indigenous company between Kitselas Development and Borealis Geothermal (Borealis), is pleased to announce that a Joint Development Agreement (JDA) with Shell Canada Energy (Shell Canada) takes effect on July 29, 2022. The JDA supports de-risking and appraisal of the geothermal resource in the Terrace, British Columbia area, … Read more
By a A Chemist in Langley Posted by Blair In my review of Seth Klein’s A Good War, I took issue with the author’s statement that in order to fight climate change we need to eliminate the fossil fuel industry. I have repeatedly pointed out how ridiculous that claim is and think it is time to put some numbers … Read more
]Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (“Hemisphere” or the “Company”) provides its financial and operating results for the second quarter ended June 30, 2022. During the second quarter of 2022, Hemisphere achieved record adjusted funds flow from operations (AFF)1 of $14 million and lowered net debt[1] to $3.7 million. Hemisphere was also active in the field with five … Read more
Aug 17, 2022 (Bloomberg) US crude exports rose to a record as European refiners rushed to stock up supplies ahead of a ban on Russian imports. Weekly shipments overseas reached 5 million barrels a day, surpassing a high set barely a month ago, according to data from the US Energy Information Administration. The increase itself — … Read more
Aug 18, 2022 (Bloomberg) More than $4.8 billion has been pumped into the electric-vehicle charging industry this year — a combination of roll-out announcements, debt financing, investment and acquisitions. And this is just the deals that have disclosed financial figures.Large corporates are competing for M&A targets with pure-play charging companies they may previously have acquired, and new competitors are … Read more
(Bloomberg) Oil rose as investors weighed lingering concerns about a global economic slowdown against bullish signals from the US and OPEC. West Texas Intermediate climbed 1.1% to over $89 a barrel, while Brent jumped by 1.4% to almost $95. Oil’s main contracts have both traded in a narrow range for the past few days, though futures … Read more
Aug 18, 2022 (Bloomberg) European natural gas futures extended their gains as an energy-supply crunch continued to batter the region, amid signs that the is fuel becoming too costly for industrial use and power generation. Prices are about ten times higher than where they usually are for the time of the year, with costs spiraling … Read more
ANCHORAGE, Alaska (AP) — Two oil and gas companies have announced plans to invest $2.6 billion into developing a major oil field on Alaska’s North Slope.
Australia-based Santos and Spain-based Repsol made the announcement, which was laud…
CALGARY — Enbridge Inc. says it has completed a deal that will see the Calgary-based pipeline giant become operator of the Gray Oak oil pipeline in Texas.
Enbridge says its joint venture merger deal with Houston-based energy company Phillips 66 will r…
Canada’s environment minister says releasing treated oilsands tailings into the environment isn’t the only solution being considered to clean up the massive, toxic ponds.
Steven Guilbeault says that even though his government is developing regulation…
Appropriate fiscal and regulatory terms critical to incent private sector investment in low-emitting technologies that mitigate Net Zero risk 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 The federal government, through Environment and Climate Change Canada (ECCC), has recently … Read more
CALGARY — Keyera Corp. and Canadian National Railway Co. have signed a deal to evaluate building a rail terminal in Alberta to ship energy products.
The companies say they have signed a memorandum of understanding to look at the construction of a proj…
CALGARY, Alberta – Keyera Corp. (“Keyera”) and CN (TSX: CNR) (NYSE: CNI) today announced the signing of a Memorandum of Understanding that will leverage their joint expertise to evaluate the creation of a specialized clean energy terminal in Alberta’s Industrial Heartland. The new infrastructure would aggregate conventional and clean energy from multiple sources to support transportation … Read more
Aug 17, 2022 (Bloomberg) Global oil markets face a high risk of a supply squeeze this year as demand remains resilient and spare production capacity dwindles, the new head of OPEC said. Fears over slowing consumption in China and the wider world — which have pushed crude prices 16% lower this month — have been … Read more
Aug 16, 2022 (Bloomberg) At least two more brokers resigned from a prominent Calgary oil brokerage in recent days, adding to the string of walkouts that spooked Canada’s crude market last spring. NE2 Group, a brokerage that has historically played an important role in setting prices for Canadian crude, lost Houston-based Mikaela Bennett and Madison Brittner … Read more
(Bloomberg) President Joe Biden signed a sweeping tax, climate and health-care measure into law on Tuesday, sealing a major legislative victory ahead of the November midterm elections. “With this law, the American people won and the special interests lost,” Biden said at the White House. “It’s about delivering progress and prosperity to American families.” The measure, … Read more
NEW YORK/LONDON, Aug 17 (Reuters) – Traders and fund managers have left crude oil markets in recent months, dropping activity to a seven-year low amid the worst global energy crisis in decades as investors become unwilling to deal with persistently high volatility. The exodus of participants, especially hedge funds and speculators, has made daily price … Read more
Summary API report shows crude, fuel stocks fell last week – sources EU, U.S. studying Iran’s response to nuclear proposal Coming up: EIA supply report, 1430 GMT LONDON, Aug 17 (Reuters) – Oil hit a six-month low on Wednesday after a brief rally as concerns about the prospect of a global recession that would weaken … Read more
Aug 16, 2022 (Bloomberg) Foreign investors pulled the most money out of Canadian stocks in 15 years amid fears that recession would hit an equity market that’s highly sensitive to changes in the economic cycles. They reduced their exposure by C$12.6 billion ($9.8 billion) in June, the third consecutive month of outflows, according to Statistics Canada … Read more
August 16, 2022 CALGARY, AB – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Company”) (TSX: TWM) is pleased to announce the successful closing of its previously announced refinancing plan, consisting of a $130 million increase in the size of its Senior Credit Facility to $550 million and an approximately $92.5 million equity offering, fully funding the redemption of its $125 million senior unsecured notes due December … Read more
August 16, 2022 CALGARY, Alberta, Aug. 16, 2022 (GLOBE NEWSWIRE) — Plains Midstream Canada, a subsidiary of Plains All American (Nasdaq: PAA & PAGP) (“Plains”), announced today it is exploring the expansion of its Fort Saskatchewan facility with strategic partners. The expansion would leverage existing infrastructure and add 50,000 barrels per day of C3+ fractionation capacity, while maintaining … Read more
Office space is leased by the square foot, and too often, tenants go to great lengths to negotiate the best possible rate per square foot without considering how the square footage is determined for the particular building. The “gross-up factor,” which is the proportionate allocation of common area to a tenant’s office space, and the … Read more
The media has made much of how the global supply chain is affecting nearly every aspect of daily lives. How long can this continue? What are the challenges and barriers that are at play with global goods? The Supply Change Expo is the first supply chain-focused conference and expo that brings together supply chain leaders … Read more
Keeping up with the constantly evolving national, provincial, and local codes and standards that may apply to your installation can be a real challenge. If your next generator installation involves an outdoor diesel generator (or multiple outdoor diesel generators), you may be interested to know about a few requirements of CSA B139 – Installation Code … Read more
PME is a self-performing Heavy Civil/Industrial Construction company serving British Columbia, Alberta, Saskatchewan, and Ontario, we believe in finding ways to make civil industrial projects more innovative by using the variety of types of equipment, our advanced construction drafting with 4D modeling, aerial imagery (UVA), and PME’s carbon conscious program. We service projects from start … Read more
The Insight Analytical Liquid Fast Loop probe design exploits modern technologies including CFD (Computational Fluid Dynamics) and metal 3D printing to produce an optimized solution for creating closed-loop flow in analytical fast loops, without the need for additional pumps or venting the process fluid after analysis. 1. Close Couple Analyzer NIR Raman 2. Fast Loop … Read more
EDMONTON — A United Nations body that monitors some of the world’s greatest natural glories is in Canada again to assess government responses to ongoing threats to the country’s largest national park, including plans to release treated oilsands tailin…
‘We see a huge opportunity here for Canada to materially ramp up LNG exports’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The outlook for Canada’s extra-low emissions Woodfibre LNG project just got even stronger. A new $1.5 billion investment by Enbridge builds on momentum following the April milestone of notice … Read more
August 15, 2022 With oil and gas prices rising because of supply shortages and disruptions, the world is again rediscovering the existence and importance of the oilfield services (OFS) industry. OFS was a huge casualty as producers cut spending to the bone to survive the past seven years. The oil services sector is back in … Read more
NUNAVUT — Canadian North says fuel shortages at several airports in the High Arctic are affecting the amount of passengers and cargo it can carry on some flights.
The airline says there is no fuel available for air operators at airports in Pond Inlet…
August 16, 2022 Barclays on Tuesday lowered its Brent price forecasts by $8 per barrel to $103 per barrel for 2022 and 2023, citing a large, expected surplus over the near term primarily due to Russian supplies. “The recent move lower in prices is primarily a timing issue, as resilient Russian supplies before the EU … Read more
Aug 16, 2022 (Bloomberg) Oil recovered from early losses with the market weighing expectations of an increase in Iranian production and worsening prospects for global growth.West Texas Intermediate rebounded over $90 a barrel and is up for the day. Although talks between Iran and European Union negotiators indicated progress toward a renewed nuclear deal yesterday, discussions … Read more
Summary This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Aug 16 (Reuters) – Russian state gas company Gazprom (GAZP.MM) said on Tuesday that European gas prices could spike by 60% to more than $4,000 per 1,000 cubic metres this winter, as the company’s own export and production … Read more
Summary Wholesale gas prices up 350% year-on-year High prices expected to continue this year and next Rising wholesale energy costs are passed on to consumers Aug 15 – A global surge in wholesale power and gas prices means households across Europe face much higher energy bills this year and beyond, with the region’s most vulnerable … Read more
CALGARY, AB – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL) (NYSE: PBA) is pleased to announce that it has completed its previously announced joint venture transaction with KKR to combine their respective western Canadian natural gas processing assets into a single, new joint venture entity, Pembina Gas Infrastructure Inc. (“PGI”). “We are excited to … Read more
LAUNCESTON, Australia, Aug 15 (Reuters) – The forecast for global crude oil demand was raised by the International Energy Agency (IEA) and lowered by OPEC in reports last week, but the apparent differing views actually masked an increasing convergence between the consumer and producer groups. The market take on last week’s separate reports was largely … Read more
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 79,000 barrels per day (bpd) to a record 5.408 million bpd in September, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale oil basins … Read more
In Fossil Future I refute literally hundreds of myths about fossil fuels. Here are 20 myths that 11,000,000 people heard on Joe Rogan’s podcast this year. By Alex Epstein In my book Fossil Future, I refute literally hundreds of myths about fossil fuels. Here are 20 myths that 11,000,000 people heard on Joe Rogan’s podcast this year from … Read more
OSLO, Aug 15 (Reuters) – Norway will have to phase out some of its old oil and gas fields prematurely to achieve its 2030 climate goals, unless it can use carbon-free power on more offshore platforms to cut their emissions, the country’s Climate Minister Espen Barth Eide said. Norway, western Europe’s largest petroleum producer, aims … Read more
U.S. natural gas futures fell about 3% on Monday on rising supplies and forecasts for cooler weather and lower air conditioning demand over the next two weeks than previously expected. Also weighing on gas prices was a 5% drop in oil futures and the ongoing outage at the Freeport liquefied natural gas (LNG) export plant … Read more
By Geoffrey Cann The front line worker in oil and gas has been overlooked in the drive to bring digital innovation to the industry. We need to fix that. The Digital Elite It’s pretty easy to get smart about the role and impact of digital innovation in energy when you work in an office tower, … Read more
Oil extended losses at the start of the week as traders weighed concerns about Chinese demand and the prospect for more Iranian supply. West Texas Intermediate dropped near $88 a barrel, falling as much as 4.3%, with markets selling off as China’s surprise cut in key interest rates boosts support for an economy hit by virus lockdowns … Read more
Aug 15, 2022 (Bloomberg) Anders Hove is a world-renowned energy expert with a mild obsession about charging electric vehicles. Whether in his former home of Beijing or on trips in Europe or the US, the senior research fellow at the Oxford Institute of Energy Studies enjoys getting behind the wheel of a battery-powered car to test what … Read more
(Bloomberg) Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production. Aramco followed big oil rivals reporting a surge in profits. Net income rose to $48.4 billion in the second quarter, up from $25.5 billion a year earlier, the state-controlled company said on Sunday. Its free … Read more
(Bloomberg) With high natural gas prices showing no signs of abating and supplies becoming harder to obtain, cheaper and dirtier alternatives to the fuel are looking increasingly tempting for energy-hungry buyers. Liquefied natural gas prices in Asia are now at about $50 per million British thermal units. On an energy-equivalent basis, gas was at about … Read more
(Bloomberg) Nearly six months after Russia was evicted from much of global finance over the invasion of Ukraine, it’s going it alone by devising a two-tier system severed from adversaries. The plan emerging from central bank proposals and a gradual unwinding of local restrictions will focus on mobilizing capital at home while catering to jurisdictions … Read more
Tunable diode lasers (TDLs) are rapidly replacing paramagnetic analyzers in many petrochemical unit operations. By providing fast, accurate measurements directly from within the process, TDLs maintain process safety. Strict oxygen levels are essential in vapor recovery units Volatile organic compounds (VOCs) are present in many oil refineries and petrochemical plant unit operations. In some unit’s … Read more
NuTech Innovations is now providing the World’s Best Internal Pipe Cutter through a Rental Program. “We needed to adapt to the changing needs of our customers, especially for smaller volume pipeline riser and facility pile abandonment projects,” says Tim Conn Director of Business Development for NuTech. “We also felt that offering our larger and more … Read more
Aug 12 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs for a second week in a row as the rig count, an early indicator of future output, has been slow to grow with oil production only seen recovering from pandemic-related cuts next year. The U.S. oil and … 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
OTTAWA — Global Affairs Canada considered the impact on Canadian jobs and global inflation when making a decision to return a turbine being repaired in Montreal to a Russian energy giant, a newly released document shows.
The “memorandum for action” pr…
Irina Slav More From Irina Slav Energy scarcity seems to be descending over Europe slowly but surely and while the focus continues to be, for now, on teaching people to consume less energy, reports are emerging with the word “blackout” in the headline. I hate to be trite but winter is coming. And we might as well … Read more
St. Albert, Alberta–(Newsfile Corp. – August 11, 2022) – Enterprise Group, Inc. (TSX: E) (the “Company” or “Enterprise”). Enterprise, a consolidator of energy services (including specialized equipment rental to the energy/resource sector), emphasizing technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for small to Tier One resource clients, is pleased to announce its Q2 2022 results. … Read more
Indigenous Resource Network says poverty can be solved by providing financial backstops for resource projects on traditional lands By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter There’s a solution to the high levels of poverty that plague Indigenous communities across Canada, says Robert Merasty, executive director … Read more
Canada’s drilling rig count decreased 2 active drilling rigs according to data collected by Baker Hughes for the week ending August 12, 2022. From one week ago, Alberta rig counts increased 1 to 142 and the Saskatchewan rig counts decreased 2 to 42. Oil drilling increased 3 to 137 and gas increased 1 to 64.
(Bloomberg) It’s been nearly two decades since the oil giant BP released a calculator to help consumers figure out all the ways carbon was creeping into their lives, from commuting to work to buying food. The PR campaign was wildly successful: It popularized the very idea of an individual “carbon footprint.” The 2000s were a big time for climate accountability. That’s … Read more
(Bloomberg) Oil declined Friday but still posted a weekly gain as traders weighed the prospects of higher demand this winter against the potential for Iranian supply to return. West Texas Intermediate futures ended the week 3.5% higher after losing 2.4% Friday. Iran said it could accept a European Union-brokered nuclear deal if it receives certain guarantees. … Read more
(Bloomberg) Shale drillers saw their debt burden fall further in the second quarter, signaling extra room for them to pay dividends, buy back shares or make acquisitions. A metric commonly used to measure companies’ ability to pay down their borrowings has widely improved among oil and gas producers as they repurchase some bonds and pile up … Read more
Europe is suffering from an unprecedented energy crisis. Household gas and electricity bills have soared with some countries now urging limited use of heat and hot water. While Putin’s war has exacerbated the situation, Europeans can blame government policies for energy shortages and price spikes, which ironically has deepened the continent’s reliance on Russian natural gas and oil imports. … Read more
Reduced oil production from Canada is bad for the world, veteran Wall Street energy analyst says By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The outlook for production growth from Canada’s oil sands is down again, limiting supply of what one analyst calls “the Great Canadian … Read more
With the recent windfall in resource revenue, the sentiment towards fiscal policy in Alberta has shifted. Indeed, as budget deficits turned to surpluses, policy discussions moved from how to restrain government spending to how best to use the additional revenue. While the fiscal turnaround is good news, if the provincial government maintains this latest era of … Read more
August 12, 2022 U.S. natural gas futures fell about 3% on Friday on forecasts for cooler weather and lower demand next week than previously expected. That price decline came even though output was on track to fall for a fourth day in a row on Friday after hitting a record high on Monday, and despite … Read more
by Aaron Foyer Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Disclaimer from Yard: This list is not conclusive to the biggest offenders, but the biggest offenders according to the data as presented on the CelebrityJets Twitter page. It is also aware this data is based on these celebrities’ planes and whilst there is … Read more
Aug 12, 2022 (Bloomberg) Oil headed for the biggest weekly gain in about four months on interruptions to supply and speculation fuel switching will buoy demand. West Texas Intermediate traded near $94 a barrel, up by more than 5% this week. Six oil and gas fields in the Gulf of Mexico were shut after a leak at … Read more
The union wants plant and production capacity targets as part of the overall auto strategy The recommendations are contained in Unifor’s new auto policy, released a day after Canada’s largest private-sector union elected Lana Payne as its new president.The union wants plant and production capacity targets as part of the overall auto strategy, while it … Read more
CALGARY, Alberta, Aug. 11, 2022 (GLOBE NEWSWIRE) — Today, CRIN is announcing one additional project identified for funding in its Low Emission Fuels and Products technology competition. Burlington, Ontario-based Universal Matter Inc. (UMI) has been identified for up to $5.8 million in support of its Conversion of Carbon Waste Streams to High-Value Graphene via Flash Joule … Read more
August 11, 2022 CALGARY, Alberta, Aug. 11, 2022 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) today announced the Company’s financial and operating results for the quarter ended June 30, 2022. All dollar amounts herein are in Canadian Dollars unless otherwise identified. Q2 Financial and Operating Highlights Key … Read more
Aug 12, 2022 (Bloomberg) Oil headed for the biggest weekly gain in about four months on interruptions to supply and speculation fuel switching will buoy demand. West Texas Intermediate traded near $94 a barrel, up by more than 5% this week. Six oil and gas fields in the Gulf of Mexico were shut after a leak at … Read more
Catch the Energy Conference is dedicated exclusively to the Energy and Energy Service sector. Share your story and spend the day with 600 high net-worth individual investors who are specifically interested in Energy Sector investments. We are looking for a few new great presenters to round out our conference. To find out more about how … Read more
The discount on benchmark heavy Canadian crude versus West Texas Intermediate held steady on Thursday, while the premium on synthetic crude was also unchanged. Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, last traded at $19.80 a barrel below WTI, according to NE2 Group, unchanged from the previous settlement. Light … Read more
CASE STUDY PROJECT Installation of ECS Lining System over top of failed HDPE containment without lifting tanks or interrupting service. COMPANIES INVOLVED Western Engineered Containment (WEC) Petronas Canada THE CHALLENGE Restore full confidence and integrity in existing secondary containments, while eliminating the costly need to remove existing tanks, failed liner, or backfill. The ECS retrofit … Read more
August 11, 20222 CALGARY, AB – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the three and six months ended June 30, 2022, a 33% dividend increase and our Return of Capital Framework. The unaudited interim financial statements and management discussion … Read more
CALGARY, AB – Tidewater Renewables Ltd. (“Tidewater Renewables” or the “Corporation“) (TSX: LCFS) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the three and six month periods ended June 30, 2022. SECOND-QUARTER 2022 HIGHLIGHTS Tidewater Renewables generated another solid quarter of Adjusted EBITDA(1) of $16.9 million and net … Read more
OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation and efforts to contain the coronavirus pandemic. The view from the Organization of the Petroleum Exporting Countries contrasts with that of the International Energy Agency, … Read more
OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia’s invasion of Ukraine, high inflation and efforts to contain the coronavirus pandemic. The view from the Organization of the Petroleum Exporting Countries contrasts with that of the International Energy Agency, … Read more
Calgary, Alberta – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to announce the completion of its previously announced acquisition of Rising Star Resources Ltd. (the “Transaction”). The purchase price for the Transaction included 6,000,000 common shares (“Topaz Shares”) of Topaz Energy Corp. (“Topaz”) currently owned by Tourmaline and $67,770,000. In connection with this disposition of Topaz Shares, … Read more
Aug 10, 2022 (Bloomberg) Oil and gas executives from Exxon Mobil Corp. to Occidental Petroleum Corp. have been quick to applaud parts of the $437 billion climate, tax and health-care legislation that Congress is poised to pass this week.The enthusiasm from Big Oil isn’t shared by some smaller and independent producers, which pump the vast majority of the … Read more
OPEC+ is unlikely to increase output in the coming months because of limited spare capacity, according to the International Energy Agency.Furthermore, the “largely symbolic” 100,000 barrel-a-day hike promised for September may actually turn into a cut as Russian production declines, the IEA said. “Comparatively low levels of operational spare production capacity, held mainly by Saudi … Read more
(Bloomberg) The International Energy Agency boosted its forecast for global oil demand growth this year as soaring natural gas prices and heatwaves spur industry and power generators to switch their fuel to oil. World oil consumption will now increase by 2.1 million barrels a day this year, or about 2%, up 380,000 a day from … Read more
Aug 11, 2022 (Bloomberg) Oil edged higher after the International Energy Agency boosted its forecast for global demand growth this year.West Texas Intermediate rose 0.9% to trade above $92 a barrel, after earlier slipping by 0.8%. The IEA lifted its consumption estimate by 380,000 barrels a day, saying soaring natural gas prices and heat waves are prompting industry … Read more
August 10, 2022 CALGARY, Alberta, Aug. 10, 2022 (GLOBE NEWSWIRE) — Enerflex Ltd. (“Enerflex” or the “Company”) (EFX–TSX) today reported its second quarter 2022 financial and operational results. “Enerflex delivered another strong quarter, continuing to generate momentum in our business as we recover from the low activity levels we experienced over the last two years,” explained … Read more
August 10, 2022 CALGARY, Alberta, Aug. 10, 2022 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) is pleased to announce its financial and operating results for the three and six months ended June 30, 2022. The following press release should be read in conjunction with the management’s discussion and analysis (“MD&A”) and … Read more
CALGARY, Alberta, Aug. 11, 2022 (GLOBE NEWSWIRE) — InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) announces its record setting financial and operating results for the three and six months ended June 30, 2022. InPlay’s condensed unaudited interim financial statements and notes, as well as Management’s Discussion and Analysis (“MD&A”) for the … Read more
CALGARY — Trans Mountain Corp. says Dawn Farrell will become its new president and chief executive next week.
The pipeline operator says Farrell has more than 35 years of experience in the energy business, where she has held senior level positions.
Sh…
The premium on synthetic Canadian crude from the oil sands climbed on Wednesday, regaining some ground after losses so far this month. Light synthetic crude from the oil sands for September delivery last traded at $5.90 a barrel over the West Texas Intermediate benchmark, according to NE2 Group, rising from Tuesday’s settlement of $4.50 a … Read more
August 10, 2022 CALGARY, Alberta, Aug. 10, 2022 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its Q2 2022 financial and operational results, which included record quarterly adjusted funds flow and free funds flow, resulting in a significant reduction in the Corporation’s total debt. “Birchcliff had a … Read more
August 10, 2022 CALGARY, Alberta, Aug. 10, 2022 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and six months ended June 30, 2022. Q2 2022 HIGHLIGHTS: Production up 15% – Production was up 15% from 6,309 boe/d in … 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, Aug. 10, 2022 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the second quarter ended June 30, 2022. … Read more
August 10, 2022 CALGARY, Alberta, Aug. 10, 2022 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present its operating and financial results for the second quarter of the 2022 fiscal year. A 67% Operating Margin1,2 and a 31% Profit Margin3 in the quarter delivered a 12% Return on Capital4 and a … Read more
August 10, 20223 CALGARY, AB – Rubellite Energy Inc. (“Rubellite”, or the “Company”), a pure play Clearwater oil exploration and development company, is pleased to report second quarter 2022 financial and operating results and provide an operations and land acquisition update. Select financial and operational information is outlined below and should be read in conjunction with Rubellite’s unaudited condensed interim … Read more
August 10, 2022 CALGARY, Alberta – The Board of Directors of Trans Mountain Corporation (“Trans Mountain” or the “Company”) today announced the appointment of Dawn Farrell to the position of President and Chief Executive Officer and member of the Board of Directors. The appointment will be effective August 15, 2022. Mrs. Farrell brings over 35 … Read more
August 10, 2022 DELTA, BC – FortisBC Holdings Inc. (“FortisBC”) and Musqueam Indian Band (“Musqueam”) are announcing the signing of an agreement, which will result in the parties sharing benefits associated with the Tilbury LNG Projects (“Projects”). The agreement will see Musqueam and FortisBC working in close collaboration as the Projects are developed, including the … Read more
CALGARY, Alberta – Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) announces the release of its second quarter 2022 financial and operating results, highlighted by record net operating income, material deleveraging and minor non-core asset divestitures. Highlights During Q2 2022 Pieridae: Generated record quarterly Net Operating Income1 (“NOI”) of $56.0 million ($0.35 per basic and $0.35 per fully … Read more
CALGARY — TC Energy Corp. says it has closed a $1.8-billion bought deal offering of common shares.
The Calgary-based company says it will use the proceeds to fund costs associated with the construction of the Southeast Gateway Pipeline, a US$4.5-billi…
Aug 9 (Reuters) – Russian pipeline monopoly Transneft (TRNF_p.MM) said on Tuesday Ukraine had suspended oil flows via the Druzhba – or Friendship – crude oil pipeline’s southern leg after Western sanctions prevented the payment of transit fees. The leg of the pipeline transports Urals crude to Hungary, Slovakia and the Czech Republic. Hungary’s MOL (MOLB.BU) and Unipetrol, … Read more
Aug 10, 2022 (Bloomberg) Oil fell in another choppy session as flows through a major pipeline from Russia to Europe looked set to resume soon, while industry estimates showed an increase in US inventories. West Texas Intermediate reversed earlier gains to trade below $90. Hungarian refiner Mol Nyrt said it has transferred a fee to … Read more
(Bloomberg) Russia is getting ready to resume oil flows through a pipeline to central Europe after Hungary’s sole refiner stepped in to resolve a problem over the payment of a transit fee to Ukraine.Crude flows via the southern leg of the Druzhba link may reach Slovakia by the end of Wednesday, Transneft PJSC spokesman Igor … Read more
(Bloomberg) China’s plans to accelerate its world-leading expansion of solar and wind power are facing a major hurdle as floods, droughts and food-supply issues present authorities with a reality check about how much precious farmland the nation can afford to lose. Solar and wind farms have been supercharged in the past two years since Chinese President Xi Jinping … Read more
Output growing more slowly than anticipated amid surging costs and labour shortages in shale fields Bloomberg News United States oil production remains on track for a record 2023 even as output grows more slowly than anticipated amid surging costs and labour shortages in America’s shale fields. Output is expected to expand at an average rate … Read more
CALGARY, Alberta, Aug. 10, 2022 (GLOBE NEWSWIRE) — (PIPE – TSX) Pipestone Energy Corp. (“Pipestone” or the “Company”) is pleased to report its second quarter 2022 financial and operational results, and to provide an update on its operations. SECOND QUARTER 2022 CORPORATE HIGHLIGHTS: The Company generated record revenue of $210.4 million, which represents more than a two and … Read more
CALGARY, Alberta, Aug. 10, 2022 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX: TRP) (NYSE: TRP) (TC Energy or the Company) today announced that it has completed its previously announced public offering (the Offering) of common shares of the Company (the Common Shares). The Offering was announced on Aug. 4, 2022 when TC … Read more
August 9, 2022 CALGARY, AB, Aug. 9, 2022 /CNW/ – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce its operating and financial results for the three and six month periods ended June 30, 2022. The related unaudited condensed financial statements and notes, as well as management’s discussion and analysis (“MD&A”), are available on SEDAR … Read more
CALGARY, Alberta, Aug. 09, 2022 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces second quarter results for the period ended June 30, 2022. Operating and Financial Highlights Three Months Ended June 30 Three Months Ended March 31 FINANCIAL ($ millions, except as noted) 2022 2021 Change 2022 Change Funds from operations 83.8 40.2 … Read more
CALGARY, AB, Aug. 9, 2022 /CNW/ – Spartan Delta Corp. (“Spartan” or the “Company“) (TSX: SDE) is pleased to report its unaudited financial and operating results for the three and six month periods ended June 30, 2022, details of a strategic acquisition, as well as an update to the Company’s guidance for the remainder of 2022. Selected financial and operational … Read more
Standard security systems can be used for leak detection on most locations and applications, but there are times when you want to be able to react faster. The use of a thermal camera can significantly increase your leak detection ability and reaction time when dealing with a process that has a different temperature than the … Read more
UCP leadership hopefuls will share their views each on the future of Alberta’s oil sands, how Alberta fits into a much need Canadian energy policy, and how our province adjusts in a net zero future. Hear from candidates on what their strategy would be regarding Alberta’s energy industry and how they would navigate the Province and … Read more
This Heavy Duty Portable Wash Station provides zero spill containment of contaminated fluids and solids, allowing for disposal in an environmentally approved facility. Enviro-Pads can be unloaded and set up on site in under 45 minutes. The 32′L x 20’W Heavy Duty System is engineered with a surface weight rating of 200 Ton and a … Read more
IMPROVING TURNAROUNDS THROUGH DETAILED ENGINEERING The ability to quickly evaluate equipment is critical for minimizing costs during Plant Turnarounds. There is a wide range of opportunities for cost savings that a company can achieve during a Turnaround (TAR). In typical Turnaround scenarios, some equipment clearly must be replaced, and some equipment can clearly remain in … Read more
August 9, 2022 FOR IMMEDIATE RELEASE Calgary, AB – Today the Indigenous Resource Network launches its “Ownership Changes Everything” Campaign to advocate for Indigenous ownership in resource projects. The campaign calls on the government to implement a National Indigenous Guaranteed Loan Program, modelled on similar programs in Alberta, Saskatchewan, and Ontario. “The problems our communities are … Read more
CALGARY, AB – Public support for Canadian energy companies continues to grow across the country and various demographics. Both the export of Canadian energy, as well as the sector’s innovative carbon technology are increasingly welcomed with significant growth in support since Leger asked Canadians the same questions in an October 2021 poll. This month’s poll found that 60% … Read more
By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter An activist group called Oil Sands Divestment is trying to convince the British Columbia Investment Management Corporation (BCI) to get out of fossil fuels by the end of this year. The campaign says oil and gas is … Read more
Aug 8 (Reuters) – Goldman Sachs said the case for higher oil prices was still strong with current supply shortfalls well above its expectations in recent months, despite a recent retreat led by factors including global recession concerns. The market will remain in unsustainable deficits at current prices and balancing it will still require “demand … Read more
Summary Russia oil exports halted via southern leg of Druzhba pipeline EU puts forward ‘final’ text to resurrect Iran nuclear deal Recession, demand fears also weigh on market Coming up: API supply report, 2030 GMT LONDON, Aug 9 (Reuters) – Oil rose over $1 a barrel on Tuesday, reversing an earlier decline, after Russia said … Read more
Acquisition expands Baker Hughes’ turbomachinery portfolio with proven electric-power technology for industrial and energy customers Integration of BRUSH will enhance Baker Hughes’ electrification offering and supports strategic commitment to provide cleaner energy solutions HOUSTON and LONDON, Aug. 08, 2022 (GLOBE NEWSWIRE) — Baker Hughes (Nasdaq: BKR) announced it has agreed to acquire the Power Generation … Read more
Average Total Production of 30,607 BOPD, Highest since Fourth Quarter 2019 Total Average Production Up 4% from First Quarter 2022 and 33% from Second Quarter 2021 Generated Net Income of $53 Million Increased Adjusted EBITDA(1) to $140 Million, Up 286% Year-on-Year Grew Net Cash Provided by Operating Activities to $143 Million, Up 285% Year-on-Year Increased Funds … Read more
CALGARY, Alberta, Aug. 09, 2022 (GLOBE NEWSWIRE) — ClearStream Energy Services Inc. (“ClearStream”) (TSX: CSM) is pleased to announce several new project and contract awards that were booked during the period from July 1, 2022 to the date of this press release. These awards are estimated to generate approximately $243 million in backlog. The work … Read more
Submit your revolutionary solutions to the 24th World Petroleum Congress taking place from 17-21 September 2023, Calgary, Canada. Showcase your technical innovations in upstream, midstream, and downstream at the world’s most influential oil, gas, and energy gathering, focusing on solutions to the energy transition. Choose from 4 technical blocks across 17 forums. Final Call for … Read more
CALGARY — Cenovus Energy Inc. has reached a deal with British energy giant BP to buy the remaining 50 per cent stake in the BP-Husky Toledo Refinery for $300 million.
The Calgary-based oil producer has owned the other 50 per cent of the Ohio-based re…
LNG from Canada can help solve the long-term challenge of rising global demand By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Canada’s potential to supply natural gas to Europe as LNG has gone from an afterthought to a critical part of the discussion on how to … Read more
AdOil Inc. is committed to protecting the environment, your reputation and your company’s bottom line. With its aluminum base and its clear poly carbonate top, the Canadian manufactured Titan wellhead containment unit has been protecting the environment from wellhead stuffing box leaks worldwide since 2001. The Titan system stops any leak, no matter how large … Read more
August 8, 2022 REGINA, SK / ACCESSWIRE / August 8, 2022 / ROK Resources Inc. (“ROK” or the “Company“) (TSXV:ROK) is pleased to provide an operations update for its Southeast Saskatchewan drilling program. The Company has successfully completed the drilling of 4 gross (3.55 net) operated locations. The Company will initiate a second phase of drilling operations … Read more
August 8, 2022 CALGARY, ALBERTA – Crew Energy Inc. (TSX: CR, OTCQB: CWEGF) (“Crew” or the “Company”) is a growth-oriented natural gas weighted producer operating exclusively in the world-class Montney play in northeast British Columbia (“NEBC”). The Company is pleased to announce our operating and financial results for the three and six month periods ended June 30, 2022. … Read more
CALGARY — Suncor Energy Inc. says its Commerce City refinery in Colorado is back up and running after an equipment malfunction earlier Monday.
Suncor spokeswoman Mita Adesanya said the malfunction caused the safety system within one of the units at th…
YELLOWKNIFE — Imperial Oil Ltd. says it is still investigating the cause and impact of a pipeline spill in the Northwest Territories that has some residents downstream concerned about the potential impact.
The Calgary-based oil and gas company report…
By Geoffrey Cann The world is at the start of a golden age of energy infrastructure development. It is time bring all aspects of the energy asset build life cycle into the digital era by adopting the digital tools that have transformed so many other sectors. I’ve reached into the archives for this article, which … Read more
CALGARY, AB – Tenaz Energy Corp. (“Tenaz”, “We”, “Our”, “Us” or the “Company”) (TSX: TNZ) is pleased to announce the financial and operating results for the three and six months ended June 30, 2022 and approval from the Toronto Stock Exchange for our notice of intention to institute a Normal Course Issuer Bid (“NCIB”). We expect to commence share purchases … Read more
(Bloomberg) The Senate passed Democrats’ landmark tax, climate and health-care bill, setting up the legislation for House approval and President Joe Biden’s signature. After more than a year of stop-and-start negotiations, Democrats on Sunday agreed to a narrow bill to invest in energy initiatives, curb drug prices and reduce the deficit, paid for by new … Read more
HOUSTON and CALGARY, Alberta, Aug. 08, 2022 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (“VAALCO“) and TransGlobe Energy Corporation (TSX: TGL; NASDAQ: TGA; AIM: TGL) (“TransGlobe“) (VAALCO and TransGlobe together, the “Combined Company“), announces that VAALCO’s Board has approved a share buy-back program of up to US$30 million, equivalent to up to … Read more
CALGARY, Alberta, Aug. 08, 2022 (GLOBE NEWSWIRE) — Prospera Energy Inc. (“Prospera” or the “Corporation“) (PEI: TSX-V; OF6B: FRA) is pleased to release its Q1 2022 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 analysis for the … Read more
August 08, 2022 07:00 ET | Source: Prairie Provident Resources Inc. CALGARY, Alberta, Aug. 08, 2022 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) today announces our financial and operating results for the three and six months ended June 30, 2022. PPR’s unaudited condensed interim consolidated financial statements for the three and six … Read more
Aug 8, 2022 Bloomberg Oil swung between gains and losses in volatile summer trading as investors continue to weigh the potential hit to demand from an economic slowdown. West Texas Intermediate was down 0.7% near $88 a barrel, after earlier rising above $90. Investors have backed away from commodities in recent months as slowing growth … Read more
The environmental impact of testing for (and producing of) oil and natural gas, demands careful management. More than ever there’s a need for more efficient options to deal with the combustion of waste gases to reduce oil producer’s environmental impact. Our partners Total Combustion Inc. (TCI) started developing new and unique technology for the incineration … 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. LEARN MORE What is Asset Management? Whether you own a … Read more
Evaluating the hard and soft costs for oil and gas operations. As a safety or operations manager in oil and gas, determining the best safety solution for your organization’s up-, mid-, or downstream operations is crucial. Reviewing the various features and benefits can be challenging enough, but when it comes to the bottom line, evaluating … Read more
We have space – lots of it. The magnitude of Academy’s facilities contributes to our competitive edge and unbeatable productivity. With over 130,000 square feet of state-of-the-art fabrication facilities between our locations in Onoway and Edmonton, we can partner on projects of all sizes and scopes. We have the capacity to fabricate, hydro test, and … Read more
Aug 5, 2022 (Bloomberg) Some oil and gas companies are flush with so much cash that they are paying out a full year’s worth of dividends in a single day — and sometimes more than that. While reporting second quarter results Thursday, ConocoPhillips informed investors that it will pay them $1.40 per share in a … Read more
Sue Big Oil project illustrates how disconnected Canada’s West Coast climate industry is from the real world By David Yager Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Due to a series of unfortunate events including the invasion of Ukraine by Russia, there is a world shortage of affordable … Read more
Aug 5 (Reuters) – U.S. energy firms this week cut the number of oil rigs by the most since September as production grows incrementally because energy firms are boosting shareholder returns and facing higher operating costs due to inflationary and supply chain pressures. The number of oil rigs, an early indicator of future output, fell … Read more
Canada’s drilling rig count decreased 1 active drilling rigs according to data collected by Baker Hughes for the week ending August 5, 2022. From one week ago, Alberta rig counts decreased 3 to 141 and the Saskatchewan rig counts increased 1 to 44. Oil drilling increased 3 to 140 and gas decreased 4 to 63.
We all understand the impacts of emissions on climate change and the environment, however net-zero means a radical change across the entire economy. In order to reach net-zero, entire industries involved in the extraction of hydrocarbons, mining, forestry, manufacturing, shipping and transportation are being forced to adapt or become extinct. All industries and governments must … Read more
Oil posted the biggest weekly decline since early April on growing signs that a global economic slowdown is curbing demand. Prices are near the lowest level in six months. West Texas Intermediate settled at $89 a barrel, ending the week nearly 10% lower. US gasoline consumption has dropped, stoking demand concerns, while low liquidity has … Read more
August 5, 2022 The discount on Canadian heavy crude versus the West Texas Intermediate (WTI) benchmark widened marginally on Friday. Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, last traded at $19.60 a barrel below WTI, according to NE2 Group, widening 10 cents from Thursday. Canadian benchmark heavy crude 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
CALGARY — The new interim CEO of Suncor Energy Inc. says the oil and gas giant is ready to stop studying its workplace safety problem and start implementing solutions instead.
Kris Smith, who took the helm of the Canadian oil and gas producer in the w…
August 5, 2022 The discount on Canadian heavy crude versus the West Texas Intermediate (WTI) benchmark widened marginally on Friday. Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, last traded at $19.60 a barrel below WTI, according to NE2 Group, widening 10 cents from Thursday. Canadian benchmark heavy crude has … Read more
Canada’s merchandise trade surplus widened to the largest in 14 years in June as the nation’s oil producers ramped up shipments. Exports rose 2% to a record C$69.9 billion during the month, outpacing a 1.7% increase in imports, Statistics Canada reported on Thursday. The surplus rose to C$5 billion, the highest since 2008, up … Read more
Friday, August 5, 2022 When it comes to scrapping the Trudeau government’s carbon tax, the hardest decision Conservative leadership hopefuls have to make is whether they would scrap it before or after lunch on their first day if elected prime minister. The bigger question is whether a Conservative government would scrap the impending second carbon … Read more
CALGARY — TransAlta Corp. reported a loss of $80 million in its latest quarter compared with a loss of $12 million in the same quarter last year.
The Calgary-based power utility says the net loss attributable to common shareholders amounted to 30 cen…
The interim chief executive of Suncor Energy said on Friday that he has a mandate to change the oil-producing company’s poor safety and operating performance, even as its board looks for a permanent CEO. “To be clear, as interim CEO, my mandate is not to simply maintain the status quo,” Kris Smith said in his first … Read more
Aug 5, 2022 (Bloomberg) Oil headed for the biggest weekly decline since early April on increasing evidence that a global economic slowdown is curbing demand, with prices near the lowest level in six months.West Texas Intermediate were little changed below $89 a barrel on Friday, and was about 10% lower for the week. US gasoline … Read more
Natural gas prices in Europe reversed losses after Russia signaled that more equipment for the Nord Stream pipeline could be caught up in sanctions-related delays. Three compressor turbines in Russia are in need of repairs and may be subject to the same sanctions risks as a unit that’s currently stranded in Germany following maintenance, state-producer … Read more
(Bloomberg) Prime Minister Justin Trudeau’s top energy official defended his country’s decision to release a sanctioned turbine for the key Nord Stream 1 gas pipeline, saying the government was not convinced by Ukraine’s arguments there were alternative options. In testimony to lawmakers in Ottawa, Natural Resources Minister Jonathan Wilkinson said leaving Germany to rely more on … Read more
CALGARY, AB, Aug. 4, 2022 /CNW/ – Enerplus Corporation (“Enerplus” or the “Company”) (TSX: ERF) (NYSE: ERF) today announced financial and operating results for the second quarter of 2022, an increase to its return of capital framework including its dividend, updated 2022 guidance and updates to its five-year outlook. The Company reported second quarter 2022 cash … Read more
CALGARY, AB, Aug. 4, 2022 /PRNewswire/ – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL) (NYSE: PBA) announced today its financial and operating results for the second quarter 2022. Highlights Strong Quarterly Results – delivered earnings of $418 million and adjusted EBITDA of $849 million, the latter representing a record for a second quarter, reflecting higher … Read more
HALIFAX — A coalition of environmental groups is calling on Ottawa to reject any proposals to build export facilities for liquefied natural gas on Canada’s East Coast, saying such projects will produce “climate-wrecking emissions.”
The coalition, whic…
CALGARY — The head of Canada’s largest oil-and-gas producing company criticized the federal government’s proposed emissions cap for the energy sector Thursday, arguing environmental goals must be balanced with economic and energy security concerns.
Ca…
CALGARY — Suncor Inc. says it earned $3.99 billion in the second quarter of 2022, or $2.84 per common share, more than four and a half times the $868 million it earned in the same period of 2021.
The Calgary-based oil producer and refiner, which repor…
(Bloomberg) Canadian Finance Minister Chrystia Freeland said her government has a “political responsibility” to help move Europe off Russian energy dependence. Freeland, speaking to reporters in Saint John, New Brunswick, said the federal government needs to step up to support its allies in the face of Russia’s aggression in Ukraine.The comments are the strongest yet … Read more
CALGARY — Pembina Pipeline Corp. says it earned $418 million in the second quarter, reflecting higher natural gas liquids (NGL) and crude oil prices and margins, as well as rising volumes on its key pipeline systems.
The Calgary-based energy infrastru…
CALGARY, AB – Keyera Corp. (TSX: KEY) (“Keyera”) announced its 2022 second quarter financial results today, the highlights of which are included in this news release. To view the MD&A and financial statements, visit either Keyera’s website or Keyera’s filings on SEDAR at www.sedar.com. Second Quarter Financial Highlights Adjusted earnings before interest, taxes, depreciation, and amortization (“adjusted EBITDA” 1) was $316 … Read more
CALGARY, AB – Perpetual Energy Inc. (“Perpetual”, or the “Company”) is pleased to release its second quarter 2022 financial and operating results and update its 2022 guidance. Select financial and operational information is outlined below, and should be read in conjunction with Perpetual’s unaudited condensed interim consolidated financial statements and related Management’s Discussion and Analysis (“MD&A”) for … Read more
Saudi Crown Prince Mohammed bin Salman speaks during the Jeddah Security and Development Summit in Jeddah, Saudi Arabia, July 16, 2022. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS//File Photo LONDON/DUBAI, Aug 4 (Reuters) – OPEC leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a “significant increase” in oil output should … Read more
Oil steadied after plunging to the lowest close in almost six months as investors weighed weaker US gasoline demand and rising inventories against a token supply increase from OPEC+. West Texas Intermediate was little changed near $91 a barrel, after sinking 4% on Wednesday. In the US, government data showed Americans are driving less than they did … Read more
Calgary, Alberta–(Newsfile Corp. – August 4, 2022) – Canadian Natural’s (TSX: CNQ) (NYSE: CNQ) President, Tim McKay, commented on the Company’s second quarter 2022 results, “Our world class asset base is strategically balanced across commodity types so we can be flexible and capture opportunities throughout the commodity price cycle to maximize value for our shareholders. … Read more
Calgary, Alberta–(Newsfile Corp. – August 4, 2022) – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) reports its financial and operating results to shareholders for the three and six months ended June 30, 2022. The Company’s financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended June 30 Six months ended June 30 … Read more
Calgary, Alberta–(Newsfile Corp. – August 3, 2022) – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company“) announces record second quarter financial and operating results, a 20% increase in its monthly dividend, an increase in production and CAPEX guidance and an operational update. Second Quarter 2022 Highlights Pine Cliff’s adjusted funds flow of $55.8 … Read more
CALGARY, Alberta, Aug. 03, 2022 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce its financial and operating results for the three-month period ended June 30, 2022. The Company is also providing an operational update as well as the declaration of its third quarter 2022 regular dividend of … Read more
OPEC+ members’ decision to raise oil output by 100,000 barrels per day is a step forward and the Biden administration will keep pushing to bring fuel prices down, a top White House energy adviser said on Wednesday. “It’s a step in the right direction,” Amos Hochstein, U.S. President Joe Biden’s energy security envoy, told CNN … Read more
Strathcona Resources has agreed to buy private equity-backed Serafina Energy for $2.3 billion, sources with direct knowledge of the matter said on Wednesday, the largest acquisition yet by the Canadian private oil and gas producer. Serafina produces 40,000 barrels of oil equivalent (boe) per day in the province of Saskatchewan, while Strathcona is focused on the Montney basin, … Read more
MONTREAL — The foreign ministers of Canada and Germany say Canada’s decision to send parts of a Russian natural gas pipeline back to Europe has revealed President Vladimir Putin’s dishonesty.
The ministers met in Montreal today amid a dispute involvin…
CALGARY, AB – Paramount Resources Ltd. (“Paramount” or the “Company”) (TSX: POU) is pleased to announce its second quarter 2022 financial and operating results, updated guidance, a highly complementary $68.5 million Duvernay acquisition in its Willesden Green core area and a $63.0 million non-core infrastructure disposition. HIGHLIGHTS Sales volumes in July 2022 averaged an estimated 92,000 Boe/d (45% liquids) as production ramped-up following major turnarounds … Read more
Summary Oil majors return to shareholders over $29 bln in Q2 Profits soar to record amid high energy prices But companies stick to budgets Companies diverge on future fossil fuel expansion LONDON, Aug 3 (Reuters) – The West’s energy giants are set to return a record $30 billion to investors after reporting bumper profits in … Read more
(Bloomberg) Shell Plc has given the vast majority of its employees a bonus equivalent to 8% of their annual salary as earnings surge to historic highs. “In recognition of the contribution our people have made to Shell’s strong operational performance against a recent challenging backdrop, our Executive Committee has decided to make a Special Recognition … Read more
(Bloomberg) Oil rallied as the Organization of Petroleum Exporting Countries agreed to a small production increase in September. West Texas Intermediate traded near $96 a barrel, moving higher after earlier declining as much as 1.5%. OPEC and its allies will lift supply by just 100,000 barrels a day, a tiny fraction of the group’s overall … Read more
German Chancellor Olaf Scholz said Russia is to blame for a delay in shipping a turbine for the key Nord Stream 1 gas pipeline, and signaled extending the life of Germany’s three remaining nuclear power plants remains a potential option to help ease an energy crunch. The turbine, which Gazprom PJSC has cited as a … Read more
CALGARY, Alberta, Aug. 03, 2022 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce record-setting financial and operating results for the three and six months ended June 30, 2022, and to provide a number of updates which demonstrate continued material advancement of our Pipestone and Wapiti Montney development. Commodity … Read more
The discount on Canadian heavy crude versus the West Texas Intermediate (WTI) benchmark narrowed on Tuesday, the first day of the monthly Canadian crude trading window. Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, last traded at $19.90 a barrel below WTI, according to NE2 Group, narrowing $1.10 from the … Read more
LONDON, Aug 2 (Reuters) – The Group of Seven (G7) wealthy nations is looking at blocking the transportation of Russian oil among other options to deprive Moscow of bumper revenues amid its invasion of Ukraine, unless it heeds a price cap. In a statement released by Britain, G7 foreign ministers said they were considering “a … Read more
By David Yager Based on recent history, it is understandable why the oil industry is concerned that the Justin Trudeau Liberal administration will again put its own political success before the greater good of the economy and global energy supplies. Continued announcements regarding last year’s unrealistically aggressive emission reductions for oil and agriculture are unsettling … Read more
Project benefiting Indigenous communities and promises opportunity for Canada By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter This summer is peak construction for the Trans Mountain expansion project (TMX), with more than 13,500 people working on the pipeline across Alberta and B.C. False narratives continue to … Read more
CALGARY, AB – Gibson Energy Inc. announced today its financial and operating results for the three and six months ended June 30, 2022. “We are pleased to report another solid quarter from both an operational and financial perspective, with both the Infrastructure and Marketing segments performing in-line with our expectations,” said Steve Spaulding, President and Chief … Read more
CALGARY, Alberta, Aug. 02, 2022 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration and production company focused on finding, developing and commercializing assets in southern Saskatchewan, today provides an update on the first two exploration wells drilled at the Company’s 100% owned and operated McCord property, HEI-1 (HEI 06-12-006-05W3M) … Read more
From mosquitoes to memories, oil and gas and petrochemical products fuel your weekend adventures By Brittany Elves Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter If you plan on heading out for a summer weekend camp-out, let us take one task off your hands by supplying you with … Read more
July 31 (Reuters) – OPEC’s new secretary general said that Russia’s membership in OPEC+ is vital for the success of the agreement, Kuwait’s Alrai newspaper reported on Sunday, quoting an exclusive interview with Haitham al-Ghais. He said OPEC is not in competition with Russia, calling it “a big, main and highly influential player in the … Read more
Aug 2, 2022 (Bloomberg) Oil held its decline, after closing at the lowest level in more than five months, as traders counted down to an OPEC+ meeting on supply amid signs that physical markets have eased in recent weeks.West Texas Intermediate slipped 0.2%, having lost almost 5% on Monday on concern a global economic slowdown will … Read more
Appeared in the Financial Post, July 26, 2022 Twitter recently decided I needed to see an exchange between some angry greens and snide conservatives that went something like this. Snide conservative: Greens have been telling us for decades to panic about overpopulation, acid rain, pollution, the ozone layer and now climate change. Yawn. Angry … Read more
In the dog days of summer, the Trudeau government has announced another step in its plan to achieve “net-zero” greenhouse gas (GHG) emissions in Canada by 2050. Of course, this remains a costly and unattainable goal. Still, the plan requires oil and gas sector GHG emissions to be reduced to 42 per cent below 2019 levels by 2030. … Read more
Summary This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Aug 1 (Reuters) – There is little Russia can do to help with urgent repairs required to malfunctioning Nord Stream 1 gas pipeline equipment, Kremlin spokesman Dmitry Peskov said on Monday. Russia cut gas supplies via … Read more
Enrollments at U Calgary’s school of engineering petroleum studies have collapsed. What does a future engineering talent shortage mean for Canada’s largest export industry? I’ve reached into the archives for this article, which was originally published on July 19, 2021. History is a fine teacher. In 1998 industry went through a major computer system upgrade. You may … Read more
Aug 1, 202 (Bloomberg) Joe Biden took a political gamble with his visit to Saudi Arabia last month, courting a kingdom he once vowed to punish in a quest for more oil supplies. This week will reveal whether it paid off. Biden said he expected “further steps” from the Saudis to cool oil prices and safeguard … Read more
MOSCOW, Aug. 01, 2022 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR) has signed an agreement to sell its Oilfield Services business in Russia (“OFS Russia”) to its local management team. The agreement follows on the Company’s previously announced suspension of new investments for its Russia operations and commitment to comply with applicable laws and sanctions. … Read more
Aug 1, 2022 (Bloomberg) Oil fell as the week’s trading kicked off, with poor Chinese economic data adding to concerns that a global slowdown may sap demand. West Texas Intermediate slid below $97 a barrel Monday after sinking almost 7% in July in the first back-to-back monthly loss since late 2020. Weekend data indicated a surprise … Read more
Aug 1, 2022 (Bloomberg) Joe Biden took a political gamble with his visit to Saudi Arabia last month, courting a kingdom he once vowed to punish in a quest for more oil supplies. This week will reveal whether it paid off. Biden said he expected “further steps” from the Saudis to cool oil prices and safeguard … Read more
Summary This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Aug 1 (Reuters) – There is little Russia can do to help with urgent repairs required to malfunctioning Nord Stream 1 gas pipeline equipment, Kremlin spokesman Dmitry Peskov said on Monday. Russia cut gas supplies via … Read more
How digital transformation benefits the oil and gas industry Where’s the beef in the much-discussed digital transformation? At many oil and natural gas producers, there’s a lack of clarity on what digital transformation is and what benefits it offers. I’ve written six articles to clarify confusion and describe the opportunities. The goals of these articles … Read more
July 31 (Reuters) – OPEC’s new secretary general said that Russia’s membership in OPEC+ is vital for the success of the agreement, Kuwait’s Alrai newspaper reported on Sunday, quoting an exclusive interview with Haitham al-Ghais. He said OPEC is not in competition with Russia, calling it “a big, main and highly influential player in the … Read more
Challenge Customer owns and operates a modern, fully equipped refinery in North America. It is essential for the customer to know what flows through its network of pipes so that the refining process can be monitored and adjusted for optimum performance. Analyzer buildings house equipment that sample media flowing through these pipes. In cases where … Read more
Well-point Dewatering is just the process that is used to achieve both the dewatering of a excavation as well as soil stabilization within the excavation for improved safety and ground water mitigation. While well-pointing is used to dewater during construction activities such as pipeline installation or integrity digs, an excavation also requires soil stabilization in … Read more
Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 30 energy, energy service and pipeline & infrastructure companies with regular updates. We also hold quarterly webinars and provide Action BUY … Read more
(Bloomberg) Canada’s economic expansion showed signs of moderating in May and June, pulling back from a strong start to the year in the face of high inflation and rising interest rates. Output in June was on track for a small increase of 0.1% after stalling in May, Statistics Canada said on Friday. That follows three … Read more
(Bloomberg) Some of Canada’s top oil executives are ramping up their opposition to Prime Minister Justin Trudeau’s goal of cutting emissions from the energy sector by 42% by 2030. Brad Corson, chief executive officer of Imperial Oil Ltd., told analysts Friday the target is “very aggressive” and “stretches the capability of what is technically and … Read more
U.S. energy firms this week added oil and natural gas rigs for a record 24 months in a row as oil majors post blowout earnings on surging crude and gas prices. The oil and gas rig count, an early indicator of future output, rose nine to 767 in the week to July 29, its highest … Read more
Summary Brent seen averaging $105.75/bbl this year WTI seen averaging $101.28/bbl this year Investors focus on OPEC+ meeting next week Global demand seen growing by 1.4 mln-2.5 mln bpd in 2022 For a table of crude price forecasts, click July 29 (Reuters) – A rally in oil prices could stall as recession fears and COVID … Read more
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ENERGYNOW FEATURE: Why Energy Policy Is Becoming a Women’s Issue Across Canada