Prime Minister Justin Trudeau just gave Western Canada another slap in the face. The good news is that Trudeau is suspending his carbon tax from a home heating fuel. The bad news is the exemption is for just one kind of home heating fuel. Guess which kind? Furnace oil, the kind of heating fuel found … Read more
Calgary, Alberta–(Newsfile Corp. – October 31, 2023) – Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) (“Pine Cliff” or the “Company“) is pleased to announce that it has entered into a definitive agreement (the “Agreement“) to offer to acquire all of the issued and outstanding common shares (the “Common Shares“) of Certus Oil & Gas Inc (“Certus“), a privately held oil … Read more
Saudi Arabia’s economy suffered its biggest contraction since 2020 during the third quarter, after the kingdom cut oil production to push up prices. Gross domestic product shrunk 4.5% in the third quarter compared to a year earlier, driven by a 17% drop in the oil economy, according to preliminary data by the General Authority of Statistics. Growth in … Read more
Summary Expiring December Brent futures rise by $1 a barrel Chinese PMI data misses forecast and falls below 50 Investors continue to assess risk of Middle East escalation Euro zone inflation hit two-year low in October London, Oct 31 (Reuters) – Oil prices edged up on Tuesday helped by a drop in euro zone inflation … Read more
(Reuters) – The World Bank said on Monday it expected global oil prices to average $90 a barrel in the fourth quarter and fall to an average of $81 in 2024 as slowing growth eases demand, but warned that an escalation of the latest Middle East conflict could spike prices significantly higher. The World Bank’s … Read more
Calgary, Alberta–(Newsfile Corp. – October 31, 2023) – Resolute Resources Ltd. (TSXV: RRL) (“Resolute Resources“, “Company“, “our” or “we“) Operational Update Since incorporation in 2019, Resolute Resources has advanced from an exploration concept to a publicly listed oil and gas company. We made our first land purchase in 2020, and significantly expanded our land holdings in … Read more
When you get a call for a job from a new customer, it should be an exciting time. It means a new revenue source and more work for your company. In a lot of cases, it is, but that excitement can quickly turn to anxiety if that new customer does not pay you in a … Read more
Conservative Leader Pierre Poilievre is calling on the Liberals to exempt all forms of home heating from the carbon price, after Prime Minister Justin Trudeau announced a temporary exemption that only applies to home heating oil. The federal government announced last week that it is increasing the carbon price rebate for rural Canadians and lifting … Read more
by Resource Works More News and Views From Resource Works Here The Trans Mountain Expansion Project is now “in the ninth inning,” with completion expected next March — more than 10 years after the first application on December 16, 2013. Those 10 years have been filled with regulatory and legal red tape, politics and delays … Read more
All financial figures are in Canadian dollars unless otherwise noted CALGARY, AB, Oct. 30, 2023 /CNW/ – Gibson Energy Inc. announced today its financial and operating results for the three and nine months ended September 30, 2023. “With the successful closing of the Gateway Terminal acquisition during the third quarter, Gibson is pleased to report solid results driven … Read more
CALGARY, AB, Oct. 30, 2023 /CNW/ – Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company”) is pleased to announce financial results for the third quarter of 2023, a Clearwater royalty and infrastructure acquisition and declaration of the fourth quarter dividend at $0.31 per share. Select financial information is outlined below and should be read in conjunction with Topaz’s interim consolidated financial statements … Read more
CALGARY, Alberta–(BUSINESS WIRE)–Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today the terms of its substantial issuer bid (the “Offer”) pursuant to which the company will offer to purchase for cancellation up to $1,500,000,000 of its common shares (the “Shares”). Subject to obtaining certain exemptive relief under applicable securities laws in the United States, the … Read more
Spooks, vampires, zombies, apparitions … what’s not to love? By Geoffrey Cann Halloween. A gory and ghastly night of ghouls, ghosts, and goblins. And as with previous years marking All Souls, I reflect on the latest digital demons molesting the oil and gas industry, how best to exorcise them, and how to speedily return them … Read more
REGINA — Saskatchewan Premier Scott Moe says his province is to stop collecting the carbon tax if Ottawa doesn’t offer a break.
Moe said Monday that starting Jan. 1, the provincial gas utility SaskEnergy won’t collect or submit the tax to the federal …
CALGARY — The Coastal GasLink pipeline, one of the largest energy infrastructure projects in recent Canadian history, is physically complete.
TC Energy Corp., the company behind the project, said Monday it has finished installing pipe along the entire…
ABU DHABI, Oct 30 (Reuters) – The presidency of next month’s COP28 climate summit and two renewable energy organisations on Monday urged governments to triple renewable energy capacity by 2030 as part of efforts to stop global warming exceeding 1.5 degrees Celsius. Countries hope to strike a deal on the increase in capacity at the … Read more
In the face of global challenges, sustainability is a critical concept many organizations are working to integrate into their practices. If we think about all the ways companies strive to be sustainable, we can get lost in the concept. But collectively, these initiatives are about activating small changes that combine to make a big impact. … Read more
A specialized nitrogen and fluid service provider in the oil and gas industry, Copper Tip Energy Services Inc. (‘Copper Tip’) has paved a unique niche for itself over the past four years. Quickly finding its place in the process, pipeline and well services market through their engineering and execution, Copper Tip’s specialized team delivers … Read more
Summary Chevron-Hess deal makes Chevron a top producer in the Bakken Production in the Bakken still 18% below late 2019 peak Bakken break-even prices are higher than other shale regions NEW YORK, Oct 30 (Reuters) – Chevron’s deal announced last week to buy Hess, one of the largest operators in the Bakken shale play in … Read more
CALGARY — Imperial Oil Ltd. expects its recently completed transition to self-driving trucks at its Kearl oilsands mine will help boost bitumen production from that site to all-time record levels in the coming years. The Calgary-headquartered Imperial, which is majority-owned by U.S. giant Exxon Mobil, said Friday that it has completed a multi-year effort to … Read more
REGINA — Two of Canada’s Prairie premiers say Ottawa’s decision to exempt the carbon tax on heating oil fails to address affordability needs in Alberta and Saskatchewan.
Prime Minister Justin Trudeau announced Thursday the carbon tax would be exempt f…
Summary Oil retreats after 3% rally on Friday Developments in Middle East yet to impact oil supplies Fed, BoE and BOJ all hold meetings this week LONDON, Oct 30 (Reuters) – Oil slipped more than 1% on Monday as concern eased about the Israel-Hamas war affecting supply from the region and as investors adopted caution … Read more
Reuters Oct 30 (Reuters) – Canadian Solar said on Monday it would invest $800 million to build a solar photovoltaic (PV) cell production facility at the River Ridge Commerce Center in Jeffersonville, Indiana. The company said the plant would produce cells with an annual output of 5 gigawatts (GW), equivalent to about 20,000 high-power modules … Read more
CALGARY, Alberta, Oct. 30, 2023 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) is pleased to announce that it has entered into a definitive agreement with a private oil and gas company to sell the Company’s Evi cash-generating unit located in northern Alberta for a base purchase price of $27.0 million … Read more
Exxon Mobil Corp. and Chevron Corp. spent recent days telling investors why they want to spend $114 billion combined on two megadeals. On Friday, their earnings reports revealed why they need to. Exxon’s oil production is hovering near the lowest level since its merger with Mobil Corp. more than two decades ago. Chevron disclosed headwinds … Read more
As the German government scrambles to prop up Siemens Energy AG, another major European wind firm faces its own moment of truth after warning of billions of euros in writedowns. Orsted A/S, which raised the alarm in the sector this summer with possible impairments of as much as 16 billion Danish kroner ($2.3 billion) to … Read more
The World Bank is warning that even a small disruption to crude supplies due to escalating Middle Eastern conflict could remove between 500,000 and 2 million barrels a day from global markets. If that happens, prices could rise to between $93 and $102 a barrel, the bank said in a report Monday. The outlook could … Read more
Stellantis NV and its Canadian union reached a tentative agreement Monday on a new contract to end a brief strike, two days after it settled a long walkout with the United Auto Workers. Unifor, which represents Canadian auto workers, announced the deal in a statement on X, formerly known as Twitter. The strike, involving more than 8,200 people, began … Read more
Canada should announce its intent to use Article 6 as a tool to help meet its emissions reduction targets By Jerome Gessaroli PDF of paper Executive Summary Under the basic current climate accounting rules to which Canada and all other UNFCCC parties have agreed, countries are responsible for reducing GHG emissions within their own national … Read more
Wetlands and peatlands are a crucial part of the boreal forest’s ecosystem By Will Gibson Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A zoologist by training, Jan Ciborowski has spent more than three decades wading through wetlands in the Great Lakes and northeastern Alberta. During that time, … Read more
Winter’s chill is not just a test for humans but also for the equipment operating in the petrochemical, chemical, and oil and gas industries. The dropping temperatures can lead to a significant loss of efficiency, with machinery often freezing and breaking down. However, at Westech Industrial, we provide comprehensive winterization solutions, ensuring that your machinery … Read more
Halo is committed to being more than just a service provider – we are Problem Solvers who stand by our clients from the beginning to the end of each project, delivering exceptional value and unmatched results that drive their success. OUR TEAM 25+ field & shop employees 70+ years of combined experience Indigenous Affiliations Halo … Read more
Pipeline and transportation company TC Energy Corp. is pursuing a multibillion-dollar asset sale plan to reduce debt and fund new investments, according to people familiar with the matter. The Calgary-based company is working on the sale of a minority stake in the ANR Pipeline Co., which it has ascribed an enterprise valuation of about $3 … Read more
From politics to major projects, it’s time for Indigenous inclusion in all spheres by Margareta Dovgal – Resource Works More News and Views From Resource Works Here Two recent things are of special meaning for Canada’s Indigenous peoples — and should be for all Canadians. First, there’s the election of Wab Kinew as premier of … Read more
Floating natural gas export terminal designed to have net zero emissions within three years of startup By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter From prosperity for remote Indigenous communities in northern British Columbia to lowering emissions in Asia to help fight climate change, the … Read more
Mexican President Andres Manuel Lopez Obrador’s first finance minister has issued a stern verdict on his former boss’s energy policies, describing them as harmful to the country, out-of-date and eroding investor confidence. Carlos Urzua, who served as finance minister between 2018 and 2019, panned Lopez Obrador’s drive to tighten state control of energy in an … Read more
Summary Brent futures touch $90 a barrel Developments in Middle East yet to impact oil supplies Hamas conditions hostage release on Israel ceasing bombardment Israel says preparing for ground invasion of Gaza NEW YORK, Oct 27 (Reuters) – Oil prices climbed about 3% to a one-week high on Friday on worries that tensions in Israel … Read more
The U.S. monthly oil rig count rose for first time since November after drillers added rigs for a third week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose one to 625 in the week … Read more
Exxon Mobil Corp. sees tight global oil supplies putting upward pressure on energy prices for at least the next few years as the world continues to suffer from a lack of investment in fossil fuels. “The industry is still recovering from the impact of the pandemic, and the lower levels of capital that have been … Read more
LONDON, Oct 26 (Reuters Breakingviews) – Back in June the boss of $220 billion UK oil major Shell, Wael Sawan, told investors mergers and acquisitions were not his priority. The decision of $430 billion Exxon Mobil and $295 billion Chevron to acquire $60 billion Pioneer Natural Resources and $53 billion Hess respectively ought to change the game. But … Read more
CALGARY — Imperial Oil Ltd. says it earned $1.6 billion in the third quarter of 2023, down from $2.0 billion in the prior year’s quarter.
The Calgary-based oil company says its profit worked out to $2.76 per share, compared with $3.24 per share in the…
ST. JOHN’S, N.L. — Fortis Inc. reported a third-quarter profit of $394 million, up from $326 million a year earlier.
The gas and power utility says the profit amounted to 81 cents per diluted share for the quarter ended Sept. 30, up from 68 cents per …
Courtesy of Science Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE To better understand how the world can decarbonize energy systems, it’s critical understand the significant and complex role oil products play in today’s modern life. That’s no easy feat. Concisely reviewing the use of petroleum products in 500 words is like deconstructing the Large … Read more
Prime Minister Justin Trudeau suspended a carbon price on oil used for home heating, bowing to political pressure in Canada’s eastern provinces just months after the tax came into effect.Oil is used to to heat a small fraction of Canadian homes, but it’s a more important energy source for the Atlantic region’s 2.6 million residents. … Read more
OTTAWA, ON: The Canadian Taxpayers Federation welcomes Prime Minister Justin Trudeau’s admission that the carbon tax makes life more expensive, but continues to call for more action to make life more affordable for taxpayers. Trudeau announced today that the federal government will pause the carbon tax on home heating oil for the next three years. “It’s … Read more
Summary Front-month Brent futures touch $90 a barrel Developments in Middle East so far haven’t impacted oil supplies LONDON, Oct 27 (Reuters) – Oil prices rose by more than $2 a barrel on Friday as investors priced in fears of an escalation of conflict in the Middle East which could disrupt oil supplies, after reports … Read more
(Reuters) – The three incidents which resulted in damage to a gas pipeline and two telecom cables between Estonia, Finland and Sweden “are related”, Estonian Prime Minister Kaja Kallas said in a statement. Finnish police have named the Chinese-owned and Hong-Kong-flagged container carrier NewNew Polar Bear as the prime suspect in damaging the Balticconnector Finland-Estonia gas pipeline … Read more
Government can work with allies and customers to receive credit for LNG’s environmental benefits, advocate says By James Snell and Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Canada should work with its allies and potential customers to receive credit for the global emissions reduction benefits of exporting … Read more
CALGARY — Alberta Premier Danielle Smith is calling one of the world’s premier energy research institutions “no longer credible” after it released a report saying fossil fuel demand is likely to peak this decade.
Smith says the International Energy Ag…
CALGARY, Alberta, Oct. 26, 2023 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce the most recent version of the Company’s monthly activity update can be found on the Company’s website at https://www.petrusresources.com/monthlyupdates. ABOUT PETRUS Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions … Read more
OTTAWA — Prime Minister Justin Trudeau has announced that the government will double the carbon price rebate for rural Canadians beginning next April.
Trudeau also says there will be a temporary, three-year pause to carbon pricing measures that are a…
U.S. waterborne imports of crude from OPEC+ members including Saudi Arabia have dropped steadily over the last year, further tightening supplies in the U.S. while supporting other markets including Europe, according to flows data and analysts. Going forward, the level of U.S. crude imports from OPEC and other exporters and U.S. shipments to Europe will … Read more
Exxon Mobil’s $59.5 billion deal to acquire oil and gas producer Pioneer Natural Resources may have been larger than Chevron’s $53 billion agreement to buy Hess, but it is Chevron that is paying a loftier price tag. Pioneer generates twice as much annual cash as Hess, but the all-stock transactions value Pioneer at just 6.35 times … Read more
CALGARY, AB, Oct. 25, 2023 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to report its operating and unaudited financial results for the three and nine months ended September 30, 2023. Selected financial and operating information is outlined below and should be read with Whitecap’s unaudited interim consolidated financial statements and related management’s discussion and … Read more
CALGARY, AB, Oct. 26, 2023 /CNW/ – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company“) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2023. Selected financial and operating information is outlined below and should be read with Tamarack’s consolidated financial statements and related management’s discussion and analysis (MD&A) for the … Read more
OTTAWA — Environment Minister Steven Guilbeault says the Impact Assessment Agency of Canada will limit some of its work while the federal government develops new legislation to respond to a recent Supreme Court of Canada opinion.
The court ruled earli…
Calgary, Alberta–(Newsfile Corp. – October 26, 2023) – Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) (BE: WNF) (“VCT”) and E-Power Resources Inc. (CSE: EPR) (“EPR”) are pleased to announce their collaboration formalized through the signing of a Mineral Processing Agreement effective October 25th 2023 for a term of 5 years. This agreement is aimed … Read more
OTTAWA — The Competition Bureau says it has reached a deal with Global Fuels Inc. to address concerns over the company’s deal to buy Greenergy’s Canadian retail fuel business.
Under the agreement, the bureau says Global Fuels has agreed to assign moto…
Summary Companies Company shares fall to all-time lows, market value plummets Siemens Energy, govt confirm talks after media reports Government well disposed but wants stakeholders to chip in BERLIN, Oct 26 (Reuters) – Shares in Siemens Energy (ENR1n.DE) plunged nearly 40% on Thursday, wiping 3 billion euros ($3.16 billion) off its market value, after the company said … Read more
(Reuters) – ConocoPhillips (COP.N) is considering an offer for CrownRock LP, an energy producer in the west Texas area of the Permian basin, people familiar with the matter said, as consolidation in the sector picks up pace. Houston-based Conoco, the largest U.S. oil and gas producer after Exxon Mobil Corp. and Chevron Corp, has expressed interest … Read more
Summary Companies Investors monitor developments in Israel-Hamas conflict US crude inventories up more than expected -EIA Macroeconomic concerns continue to pressure oil LONDON, Oct 26 (Reuters) – Oil prices fell on Thursday after a rise in U.S. crude stockpiles and a climb in the dollar index, giving up some ground gained a day earlier when … Read more
CALGARY, Alberta, Oct. 26, 2023 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV: CMC; OTCQB: CWSFF) (“Cielo” or the “Company”), a waste-to-fuel environmental technology company, is pleased to provide an update regarding the closing of its asset purchase transaction (the “Transaction”) with Expander Energy Inc. (“Expander”), which was announced on September 20, 2023. Management has been working … Read more
CALGARY, Alberta, Oct. 26, 2023 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. … Read more
CanREA launches new careers website for Canada’s wind, solar and energy-storage industries. CALGARY, Alberta, Oct. 25, 2023 (GLOBE NEWSWIRE) — The Canadian Renewable Energy Association (CanREA) is proud to launch Clean Energy Jobs Canada | Emplois Énergie Propre Canada at CanREA’s annual conference (Electricity Transformation Canada) today. Clean Energy Jobs Canada aims to help accelerate the recruitment of … Read more
Oil refiners are finding it harder to secure funding for projects as more banks shy away from fossil-fuel financing, with plant owners now pressed to show their businesses have cleaner-energy goals, executives said.While the business is still profitable, getting financing is increasingly challenging, according to Alwyn Bowden, chief executive officer of Malaysia’s Pengerang Energy Complex. … Read more
by Yogi Schulz Here’s the link to my IT blog at IT World Canada With all the buzz, press and enthusiasm surrounding ChatGPT, more and more oil & gas professionals are exploring how ChatGPT and similar AI chatbots can help them improve their work and look smarter to their bosses. Large language models (LLM) enable … Read more
CALGARY — Precision Drilling Corp. reported a third-quarter profit of $19.8 million, down from $30.7 million a year earlier, as its revenue edged higher.
The company says the profit amounted to $1.45 per diluted share for the quarter ended Sept. 30, d…
The Bank of Canada kept interest rates unchanged for a second straight meeting, but left the door open to more tightening even as officials forecast weaker economic growth.Policymakers led by Governor Tiff Macklem held the benchmark overnight lending rate at 5% on Wednesday, the highest level in 22 years. The pause was expected by markets … Read more
(Reuters) – Crude oil prices in some of the world’s main physical markets have weakened due to a jump in freight costs and a drop in refining margins, according to traders and LSEG data, suggesting demand weakness that could filter through to the futures market. Falling prices for physical crude could presage a fall in … Read more
CALGARY — A geothermal energy company is the first recipient of funding from the Canada Growth Fund, the federal government’s new $15-billion arm’s-length public investment vehicle.
Calgary-based Eavor Technologies Inc. has developed a proprietary clo…
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 35 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
Latest investment in more than $10 million in community support By Mario Toneguzzi Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Getty Images photo A new CT scanner is being welcomed by the people of Kitimat, B.C., thanks to a recent $900,000 donation from LNG Canada towards the purchase … Read more
OTTAWA — Energy Minister Jonathan Wilkinson says Canada needs to “get with the program” and move faster to become a renewable energy powerhouse, as a new international energy outlook forecasts demand for all fossil fuels will peak in seven years.
The …
The world needs more Canadian energy, not less By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Oil sands project in northern Alberta. Photo supplied to Canadian Energy Centre The Paris-based International Energy Agency (IEA) has released its latest outlook for global energy supply and demand through … Read more
CAOEC is pleased to invite you to the 2023 State of the Industry, which will be held on Friday, November 24. In collaboration with The Explorers and Producers Association of Canada (EPAC), we are excited to welcome back as our keynote speaker Alberta’s Premier, the Honourable Danielle Smith. The State of the Industry is CAOEC’s capstone event … Read more
Oct 25 (Reuters) – U.S. oilfield technology firm Baker Hughes joined rivals SLB and Halliburton in posting upbeat quarterly profit on Wednesday, driven by strong demand for its services and equipment in international markets. Shares of the company rose 2% in extended trade. Energy firms booked record profits last year following a spike in commodity prices and have … Read more
By Alex Epstein “What would be your key message for COP 28?” “My key message for COP 28 is: Withdraw from the Paris Agreement.” Last week I shared the talking points that were to be the basis of my speech at Africa Energy Week in Cape Town, South Africa. This week I want to share the speech … Read more
Courtesy of Science Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE To better understand how the world can decarbonize energy systems, it’s critical understand the significant and complex role oil products play in today’s modern life. That’s no easy feat. Concisely reviewing the use of petroleum products in 500 words is like deconstructing the Large … Read more
Each week, XI Technologies uncovers trends and insights using our enhanced data and software focused on the WCSB. If you’d like Word to the Wise delivered directly to your inbox, subscribe here. Tourmaline Oil Corp (Tourmaline) has announced that it is acquiring Bonavista Energy Corporation (Bonavista) for $1.45 billion. When assessing this transaction through different lenses using AssetSuite software tools, we look at each company’s asset profile, … Read more
By Geoffrey Cann A pioneering application of artificial intelligence at Woodside Energy is finally ready for wider deployment in oil and gas. I learned about this use case back in 2016, at APPEA’s annual conference in Perth, where Woodside’s data science team presented their work. Surprisingly, few companies bothered to replicate this innovation, even though … Read more
(Reuters Breakingviews) – Chevron has decided, like Exxon Mobil, that it’s better to discover oil on the New York Stock Exchange than drilling in the ground. The $318 billion oil giant said Monday it would buy New York-based Hess for $53 billion in an all-stock deal. The transaction is more speculative than Exxon’s $60 billion plunge into … Read more
Picture yourself behind the wheel of a UTV descending a treacherously steep slope to access the main water source for drilling and completion operations. Gradually, you feel the weight of the machine sliding out of control, and suddenly, you’re off to the side, stuck in the mud. You were hoping that the current access mats … Read more
Summary Euro zone data suggests bloc may slip into recession World leaders urge Israel-Hamas ceasefire for aid to Gaza API shows US crude, fuel stockpiles fall – market sources Coming up: EIA data on US crude stocks at 10:30 a.m. EDT LONDON, Oct 25 (Reuters) – Oil benchmark Brent held above $88 on Wednesday as … Read more
The colder weather is here, especially for Albertans who are making dinners and heating their homes against the early chill this Autumn. Nourishing and normal things, such as preparing a holiday meal and staying warm, are now financially punishable offenses. Prime Minister Justin Trudeau’s two carbon taxes make driving to work, buying food and heating … Read more
Canadian oil prices are weakening relative to US grades as pipeline bottlenecks restrict shipments to refiners, just months before a massive new export line is scheduled to enter operation. Heavy Western Canadian Select crude in Alberta traded at a $25-a-barrel discount to US benchmark West Texas Intermediate on Tuesday, the widest since January, according to … Read more
(Reuters) – Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that recent multi-billion dollar acquisitions by U.S. oil majors Exxon Mobil and Chevron of smaller rivals showed that hydrocarbons were “here to stay”. “Exxon, Chevron didn’t buy because they want to have stranded assets,” he said at Riyadh’s flagship annual Future Investment Initiative … Read more
(Reuters) – Blockbuster takeovers by U.S. oil and gas majors Exxon and Chevron this month may spark further consolidation in the energy industry after a quieter third quarter for mergers and acquisitions in the sector, analytics firm Enverus said. There were 25 U.S. oil exploration and production deals worth $14 billion in the last quarter, … Read more
Prime Minister Justin Trudeau and his cabinet are planning a multibillion-dollar loan program to help Indigenous groups in Canada buy equity in resource projects. But the government is still debating whether to include the oil and gas sector within it.The program, which is expected to be announced in the coming weeks, will see the government … Read more
Calgary, Alberta–(Newsfile Corp. – October 24, 2023) – Gear Energy Ltd. (“Gear” or the “Company”) (TSX: GXE) (OTCQX: GENGF) is pleased to announce that the new September 2023 monthly update to shareholders can be accessed via the following link https://gearenergy.com/updates. FOR FURTHER INFORMATION PLEASE CONTACT: Ingram Gillmore President & CEO 403-538-8463 David Hwang Vice President Finance & … Read more
ExxonMobil and Chevron spend $115B combined on oil assets, target emission reductions CALGARY, Alberta (October 24, 2023) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, is releasing its summary of 3Q23 upstream merger and acquisition (M&A) activity. In Q3, U.S. upstream M&A cruised along with $14 billion transacted … Read more
Global demand for oil will reach its peak this decade, the International Energy Agency predicted for the first time, amid growing popularity of electric cars and the cooling of China’s economy. The predicted peak, which the agency also anticipates for coal and natural gas, doesn’t mean a rapid plunge in fossil fuel consumption is imminent. … Read more
Reuters) – More than two-thirds of Canadians oppose the federal government taking a multibillion-dollar writedown on the Trans Mountain pipeline, a survey showed on Tuesday, a dilemma for Justin Trudeau’s Liberals as they look to sell it ahead of an election expected by 2025. Ottawa has sunk roughly C$35 billion ($25.6 billion) into the Trans … Read more
(Reuters) – Exxon Mobil and Chevron are flush with cash yet their acquisition targets are taking stock as the only form of payment, an arrangement that allows the two largest U.S. energy companies to clinch transformative deals despite volatile oil and gas prices. Chevron said on Monday it would acquire Hess in a $53 billion all-stock deal, less than … Read more
Summary German, UK, EU economic data could spell weaker oil demand Israel-Hamas conflict in focus amid diplomatic efforts API U.S. crude inventory data due 2030 GMT LONDON, Oct 24 (Reuters) – Oil prices were stable on Tuesday following the previous session’s dip after a flurry of economic data from Germany, the wider euro zone and … Read more
(Reuters) – Halliburton reported a 32% rise in third-quarter profit on Tuesday as higher international drilling and equipment demand helped overcome weakness in North America. Oil and gas companies, who rely on service providers for drilling, well construction and completion services, are reinvesting record profits from the market disruption caused by Russia’s invasion of Ukraine … Read more
FRANKFURT, Germany (AP) — Tensions from the war in Gaza could help accelerate the move away from planet-warming fossil fuels like oil and gas and toward renewable energy, electric cars and heat pumps — similar to how sharp increases in the price of oi…
CALGARY, Alberta, Oct. 23, 2023 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce its third quarter (“Q3 2023“) results for the three-month period ended September 30, 2023. Third Quarter Highlights Royalty production volumes averaged 25,469 BOE per day, an increase of 8% over Q2 2023 and 2% … Read more
THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW. CALGARY, Alberta, Oct. 23, 2023 (GLOBE NEWSWIRE) — Coelacanth Energy Inc. (the “Company” or “Coelacanth”) (TSX-V: CEI) is pleased to announce that it has entered into an agreement … Read more
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, Oct. 23, 2023 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the “Corporation” updates shareholders on previously announced reorganization, … Read more
CALGARY, Alberta, Oct. 24, 2023 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, announces that its farm-in partner, North American Helium Inc. (“NAH”), has informed HEVI of its intention to amend one of its previously selected locations from 12-36-3-9W3 to 9-35-3-9W3 … Read more
The Alberta Energy Regulator is considering allowing oil and gas companies to reduce their environmental liabilities on old well sites before the cleanup is certified complete.
The regulator says the move would reward companies that remediate their ol…
Ksi Lisims LNG is a once-in-a-generation opportunity, says Eva Clayton, president of the Nisga’a Lisims Government, as the project submits its application for environmental review. Eva Clayton, president of the Nisga’a Lisims Government. Photo from the Canadian Press. New LNG export facilities mean thousands of jobs, millions in government tax revenue, and an opportunity for … Read more
WASHINGTON — Human rights and environmental groups say Canada is trying to exploit a “dormant” cross-border treaty to prevent the shutdown of the Line 5 pipeline.
The argument is in new court documents in the ongoing dispute between Calgary-based ene…
Calgary, Alberta–(Newsfile Corp. – October 20, 2023) – Criterium Energy Ltd. (TSXV: CEQ) (“Criterium” or the “Company”), an independent upstream energy development and production company focused in Southeast Asia, is pleased to announce that it has filed and received a receipt for its final short form prospectus (the “Prospectus“) filed in each of the provinces … Read more
(Reuters) – Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas. Brent crude futures fell 24 cents, or 0.26%, to $91.92 a barrel, as of 0837 GMT. U.S. West Texas Intermediate … Read more
A hot spot for Canadian oil drillers is emerging in a tiny corner of eastern Alberta, drawing companies including Canadian Natural Resources Ltd. and Baytex Energy Corp. in search of cheaper, lower-emissions heavy crude. Oil drillers have applied for 81 licenses to drill into the so-called Waseca formation so far this year, 30 more than … Read more
Until recently vendors had access to three typical forms of credit check. A new system now exists to fill the gaps common to these outdated systems. A bit of due diligence on customers in the form of routine credit checks can save a lot of headaches and stress later on. In the oil and … Read more
CALGARY — The director of one of the groups seeking to buy a stake in the Trans Mountain pipeline says nothing less than “material” ownership by Indigenous people is acceptable if Ottawa is serious about reconciliation.
The federal government recently…
(Reuters) – Chevron said on Monday it agreed to buy Hess for $53 billion in stock, the second proposed mega-merger among the biggest U.S. oil players after Exxon Mobil bid $60 billion for Pioneer Natural Resources earlier this month. The proposed deal raises the competition between Chevron, the No. 2 U.S. oil and gas producer behind Exxon, putting … Read more
Calgary, Alberta–(Newsfile Corp. – October 23, 2023) – Coelacanth Energy Inc. (TSXV: CEI) (“Coelacanth” or the “Company“) announces that it has completed 2 wells at Two Rivers West and has finished the drilling of a 5-well pad at Two Rivers East. TWO RIVERS WEST PROJECT Coelacanth has completed the 2 Upper Montney wells on its 10-08 … Read more
OTTAWA, ON: The Canadian Taxpayers Federation is calling on Senator Pierre Dalphond to stop stalling Bill C-234, which extends the carbon-tax exemption to include natural gas and propane used on farms. “Dalphond is making eggs, bread and milk more expensive,” said Franco Terrazzano, CTF Federal Director. “With his $170,000 annual salary, maybe Dalphond can afford to … Read more
We’re a travel management company (TMC) with 30 years’ experience and over 16,000 clients globally. Service is big around here and our dedicated travel experts are on hand, anytime, anywhere. Whether you’re in the office or out on the road, we’ve always got your back. We’ve been working with customers in the oil & … Read more
Introduction In a world increasingly focused on sustainable energy solutions, the energy industry finds itself at a critical crossroads. Biogas stands as a compelling, renewable energy source that offers a unique pathway to sustainability. This article dives into how VAREC Biogas products, available exclusively in Canada through Westech Industrial, can make a pivotal impact in … Read more
We call them “forecasts,” but “predictions” may be a better word. Either way, the quality of reserves and economics output – and thus the financial plans for the whole company – depend upon the quality of the software as well as the knowledge of the interpreter. New software and training offerings can help with both. … Read more
Downhole Monitoring Basics: How utilizing real-time downhole data can help maximize production This is part 3 in our series of posts where we are going back to the basics covering the high-level benefits of the real-time downhole data that downhole monitoring systems provide. As our industry quickly transitions to data-driven operations we hope to provide a resource … Read more
All businesses across all industries must have a plan to mitigate specific risks and potential hazards. A robust risk management system will help organizations thrive in the face of financial uncertainties, technology issues, and other such disruptions in their niches. Risk management is especially important in the energy industry, a market worth more than $7 billion … Read more
Do you have a strong understanding of Managed Pressure Drilling (MPD)? Are you experienced in the Oil and Gas industry (Sales)? If you are confident in your people management skills! We want to hear from you! As a successful candidate, you will build and nurture strong, long-term relationships with assigned customer accounts, understanding their needs and goals. … Read more
CALGARY — The Canada Energy Regulator has released its reasons behind its decision last month to allow Trans Mountain Corp. to go ahead with a pipeline route deviation against the wishes of a B.C. First Nation.
In its written reasons released Friday, …
The Supreme Court of Canada recently issued a decision that was boring. That’s great news, and a bit unexpected. A five-to-two majority held much of the federal Impact Assessment Act (IAA) to be unconstitutional. That’s boring because it’s straightforward and correct. The Court did its job and stuck to its knitting. It applied the words … Read more
Leaders urge case for national Indigenous loan guarantee program that includes oil and gas By Will Gibson Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Chief Greg Desjarlais of Frog Lake First Nation signs a historic agreement between Enbridge and 23 First Nation and Métis communities in September 2022. … Read more
Summary Oil prices drop on Friday but gain over 1% for the week Hamas releases two US hostages in Gaza Earlier, Israeli minister said troops to see Gaza ‘from inside’ Global oil market already faces supply concerns BENGALURU, Oct 20 (Reuters) – Oil prices settled lower on Friday after the Islamist group Hamas released two … Read more
By Irina Slav More From Irina Slav We call them climate crusaders, climateers, a cult, and other, less polite words. Essentially, however, the transition leadership is a club and I only say this because I’m in a good mood this week, seeing as the local case of global boiling has ended for the year. Like every … Read more
A group of Canada’s largest natural gas producers including Tourmaline Oil Corp. and Ovintiv Inc. is pushing forward with a gas-export project called Ksi Lisims LNG and has filed for environmental approval for the 12 million-metric-ton-a-year facility on the West Coast. The facility would be located near British Columbia’s border with Alaska and would prepare … Read more
The Supreme Court’s rebuke of the federal Impact Assessment Act is an opportunity for positive change. Supreme Court of Canada Chief Justice Richard Wagner. Photo from CBC. by Resource Works More News and Views From Resource Works Here Introducing the Impact Assessment Act (IAA) in 2019, the federal government promised speedier processing of natural-resource projects … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since mid September, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose two to … Read more
By Cody Good Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Africa’s Energy Mix The energy mix in Africa varies from one region or country to another due to differences in available resources and infrastructure. The top sources of electricity in Africa include: Fossil fuels (coal, oil, natural gas): Fossil fuels have historically been … Read more
Siemens Energy AG is considering designing a new turbine to replace a system responsible for billions of euros in losses as one option to shore up its beleaguered wind energy business, people familiar with the matter said. The new equipment could be ready in about two years, the people said, declining to be named discussing … Read more
Summary Israeli Defence Minister: troops soon to see Gaza “from inside” Global oil market already facing supply concerns Venezuela sanctions lift has limited effect on market – analyst LONDON, Oct 20 (Reuters) – Oil prices gained more than $1 on Friday and were on track to rise for a second week on heightened fears that … Read more
CALGARY, AB, Oct. 19, 2023 /CNW/ – (TSX: RBY) – Rubellite Energy Inc. (“Rubellite”, or the “Company”), a pure play Clearwater oil exploration and development company, is pleased to announce that it has entered into a definitive purchase and sale agreement to acquire additional Clearwater assets within the Figure Lake and Edwand areas as well as undeveloped land in the Nixon area of northeast Alberta (the … Read more
CALGARY, AB, Oct. 19, 2023 /CNW/ – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company“) is pleased to announce it has entered into a definitive agreement (the “Agreement“) with a private operator to sell its non-core west central Alberta assets (the “Assets“) for $123.0 million in cash (the “Transaction“). With successful consolidation and growth of Tamarack’s core holdings in the Clearwater and Charlie Lake plays, the Company … Read more
The world will need $7 trillion to ensure there is sufficient gas supply through 2050 as nations shift to cleaner energy sources, according to a think tank in Japan. The investment will be required to build new liquefied natural gas export plants, refurbish existing facilities and develop gas fields, according to the Institute of Energy … Read more
Two U.S. natural gas exporters are racing to complete construction of the country’s first liquefied natural gas (LNG) plant since 2022, hoping to cash in on booming demand for the superchilled gas before it fades later this decade, two analysts said this week. Golden Pass LNG, owned by Qatar Energy and oil major Exxon Mobil, expects … Read more
The resumption of unimpeded Venezuelan oil exports after the US eased sanctions will mark yet another major reshuffle to global crude flows in the past two years. The Biden administration’s decision to relax sanctions appears likely to boost shipments of Venezuelan crude to the US and Europe while squeezing out some deliveries from Canada, Mexico and Colombia. … Read more
Inactive well decommissioning and reclamation activity accelerated in 2022 By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Oil and gas producers in Alberta spent significantly more than required last year cleaning up inactive wells, facilities and pipelines, according to a new report. The Alberta Energy … Read more
The world’s natural gas supply will slump in the coming decades without fresh investment, leading to more severe and frequent price shocks than those of the past two years, a lobby group said.Despite enduring demand for gas as a bridge fuel in the energy transition, supply is expected to crash following a 58% cut in … Read more
CALGARY — Carbon capture and storage is key to greening Canada’s electricity grid, but meeting the proposed time frame laid out by the federal government will be extremely difficult based on the current state of the technology, a new report says.
Otta…
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 35 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
Money managers have piled in to the renewable energy sector as part of a broad drive to limit environmental damage in recent years, leading to lofty valuations, and some have turned away from traditional energy businesses. CPP, one of the world’s biggest pension funds with C$575 billion ($418.94 billion) in assets under management, sees a … Read more
PORTLAND, Ore. (AP) — Federal regulators have approved the expansion of a natural gas pipeline in the Pacific Northwest over the protest of environmental groups and top officials in West Coast states.
The project, known as GTN Xpress, ai…
Regina, Saskatchewan, Oct. 19, 2023 – Carbon capture and storage (CCS/CCUS) will play a key role in Canada’s plan to reach a net-zero electricity system by 2035. But deploying large-scale CCS in provinces that will continue to rely on fossil fuels for power generation presents significant challenges if it is to be achieved on the tight … Read more
Solar power is set to dominate global electricity markets within the next few decades, and may have already reached an “irreversible tipping point,” according to a study published this week in Nature Communications. The study finds that solar adoption will continue apace barring any major policy shifts geared at disrupting it. “If you don’t put any … Read more
LONDON, Oct 19 (Reuters) – Britain’s decision to authorise new licences for oil and gas exploration in the North Sea was lawful, London’s High Court ruled on Thursday, dismissing a legal challenge by Greenpeace. The environmental campaign group had argued Britain’s failure to assess the greenhouse gases produced by consuming oil and gas – so-called … Read more
(Reuters) – Oil prices fell about 2% on Thursday as the United States eased sanctions on Venezuela to allow more oil to flow globally, but fears that Israel’s military campaign in Gaza may escalate to a regional conflict kept a lid on losses. Brent futures for December were down $1.52, or 1.7%, to $89.98 a … Read more
BRUSSELS, Oct 18 (Reuters) – The European Union plans to boost financial support for the wind energy sector and scrutinise subsidies of foreign wind product imports, as local manufacturers face increased competition from China, a document seen by Reuters showed. The draft measures, which the European Commission plans to publish next week, would see the … Read more
Conditions reflect careful consideration of cumulative effects in the project area and impacts on Indigenous and Treaty rights CALGARY, AB, Oct. 18, 2023 /CNW/ -Today, the Commission of the Canada Energy Regulator (CER) recommended approval of NorthRiver Midstream’s NEBC Connector Project. The project involves constructing and operating two parallel, 215-kilometre (km) natural gas liquids pipelines from B.C. to Alberta. The Commission … Read more
China and India are burning record amounts of fossil fuels this year, even as they also install record renewable power generation capacity, highlighting the slow pace and enormous inertia to be overcome in the energy transition. Both countries are experiencing rapid growth in energy use for services such as air conditioning, heating, cooking, lighting, power … Read more
An Alaska state agency on Wednesday sued the Biden administration over its decision to cancel oil and gas leases in the state’s North Slope, one of the country’s largest reserves of pristine federal land. The lawsuit filed in federal court in Washington, D.C., challenges the U.S. Interior Department’s Sept. 6 decision to scrap seven oil … Read more
LONDON, Oct. 19, 2023 /CNW/ – The International Gas Union (IGU), Snam and knowledge partner Rystad Energy, are releasing the 2023 Global Gas Report (GGR), at the Energy Intelligence Forum in London. Report Key Messages Having demonstrated significant resilience in the face of extreme shocks through 2022, the global gas industry came out of the most turbulent year in its … Read more
Canada’s oil and gas industry accounted for a third of all environmental protection spending between 2018 and 2020 By Ven Venkatachalam and Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo for Canadian Energy Centre Download the PDF here Download the charts here Overview This Fact Sheet details spending … Read more
OKOTOKS, Alta. — Mullen Group Ltd. reported a third-quarter profit of $39.1 million, up from $38.0 million in the same quarter last year as its revenue edged lower.
The trucking firm says the profit amounted to 42 cents per diluted share for the quart…
CALGARY — Last week’s ruling by the Supreme Court of Canada against large portions of the federal government’s impact assessment law could reset the policy landscape in this country in favour of energy development, the head of a major oil and gas lobb…
OTTAWA — Regulations to cap greenhouse-gas emissions from oil and gas production will be published later this fall, and they won’t be affected by a recent Supreme Court of Canada decision striking down parts of a federal environmental law, Environment…
Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Earlier this week, members of the European Union (EU) met to try and agree on an end date for fossil fuel subsidies. Negotiating between 27 countries proved to be as challenging as an entire season of House of Cards, with some members aiming for 2025 … Read more
Even though the weather is turning seasonally cooler, meteorologists forecast it is still expected to remain milder than usual through early November, which should keep both heating and cooling demand lower than usual for this time of year. Traders said that lower than usual demand coupled with record gas output was limiting price gains. After … Read more
October 18, 2023 CALGARY, AB, Oct. 18, 2023 /CNW/ – Tuktu Resources Ltd. (“Tuktu” or the “Company“) (TSXV: TUK) is pleased to announce that on October 17, 2023 it entered into a purchase and sale agreement (the “PSA“) with an arm’s length company (the “Vendor“) to purchase certain oil assets located in southern Alberta (the “Assets“) from the Vendor (the “Acquisition“). In connection with … Read more
According to a recent Parliamentary Budget Officer (PBO) report, the Canadian economy is expected to stagnate in the latter half of 2023 and the federal deficit will increase due to growing government spending. Unfortunately, this latest grim fiscal news comes as no surprise. Since taking office in 2015, the Trudeau government has demonstrated a proclivity to … Read more
Summary Iran calls for oil embargo on Israel Jordan cancels summit with U.S., Egyptian, Palestinian leaders Biden arrives in Israel to consult on Gaza conflict U.S. crude stocks fall more than expected -API data China’s Q3 GDP grows 4.9%, above market forecast LONDON, Oct 18 (Reuters) – Global oil benchmark Brent hit $93 a barrel … Read more
Summary Alberta’s volatile resource revenues are fuelling its ongoing fiscal problem. The provincial government typically includes all resource revenue in its budget. When resource revenue is relatively high, the province enjoys budget surpluses but faces pressure to increase spending; when resource revenues drop, spending remains high and the province turns to deficits. Despite efforts … Read more
Better Functionality Clean and easy-to-use interface. Simple tools for complex processes: scheduling, analysis validation, etc. Robust asset details on your schematic diagrams. Sample points, associated metering, and wellheads are mapped and linked to your analysis and calibrations. Client-controlled automated compositional acceptance rules. Staff, contractors, and service providers can securely record data directly into the software, … Read more
SUMMARY The Ventbuster® is a surface casing vent flow (SCVF) testing device, in full compliance with Alberta Energy Regulator (AER) Directives 20 and 87. It is a built-for-purpose, point-source, quantification technology providing industry with the only scientific vent gas measurement through its patented flow channel. BACKGROUND Prior to the Ventbuster®, low pressured emissions could never … Read more
By Bruno Venditti Graphics/Design: Sabrina Lam Courtesy of Visual Capitalist – See More From Visual Capitalist HERE What is the Cost of Electric Vehicle Batteries? The cost of an electric vehicle (EV) battery pack can vary depending on composition and chemistry. In this graphic, we use data from Benchmark Minerals Intelligence to showcase the different costs of battery … Read more
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, Oct. 17, 2023 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company“) (TSX: PEY) is pleased to announce that it has completed its previously announced acquisition of Repsol Canada Energy Partnership, which holds the Canadian … Read more
For the sake of Africans and the rest of the world, African leaders need to confidently reject the net-zero movement and embrace energy freedom—including fossil fuel freedom. By Alex Epstein Today I will be addressing hundreds of African energy leaders at Africa Energy Week. I am thrilled to see that there are demonstrators at this … Read more
Wood Mackenzie says spending needs to rise by $400 billion over the next decade By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The LNG Canada export terminal is about 85 per cent complete. Photo courtesy LNG Canada An additional $400 billion investment in liquefied natural gas … Read more
Courtesy of CNN Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE As Halloween draws near and we brace ourselves for a flood of Barbie and (just) Ken costumes, we’re reminded that the end of October signifies another important moment on the calendar. And we don’t mean that unhinged neighbour putting up Christmas decorations … Read more
Shell Plc still plans to achieve net zero emissions by the middle of the century, but its approach to hitting that target has changed, its CEO said. “For avoidance of doubt, what hasn’t changed is the destination that we have set for ourselves,” Chief Executive Officer Wael Sawan said via video link at the Energy … Read more
* WCS for November delivery in Hardisty, Alberta, settled at $23.45 a barrel under WTI, according to brokerage CalRock, weakening from Friday’s close of $23.00 a barrel under WTI. * Canadian heavy crude has been steadily widening in recent weeks, mainly due to a busy refinery maintenance season in the U.S. and Canada that will … Read more
The latest evidence of a pivot by oil explorers from US shale to offshore appeared Monday as the US Energy Information Administration warned that a drop in onshore production is accelerating into November. After revising its own figures from previous months, a decline in oil output is now expected to gain speed in every month … Read more
(Reuters) – The chief executive of oil giant Saudi Aramco, said on Tuesday this year’s COP28 U.N. climate conference should focus on cutting emissions from hydrocarbons, rather than reducing their production. CEO Amin Nasser was speaking at the Energy Intelligence Forum in London, ahead of the climate conference which is due to begin in Dubai … Read more
Summary Companies US’s Biden travels Weds to Middle East Biden trip will balance Israel support with containing war US-Venezuela talks could see oil sanctions ease (Reuters) – Oil steadied on Tuesday after sliding more than $1 the day before ahead of a trip by U.S. President Joe Biden to the Middle East that is likely … Read more
Climate campaigner Greta Thunberg was arrested outside a major energy industry event in London, where crowds of protesters blocked several top oil executives from entering the venue. Thunberg had addressed protesters who held signs saying “People not Profit” as delegates tried to gain access to the Intercontinental hotel. As many as 250 demonstrators blocked entrances … Read more
Shell Plc Chief Executive Officer Wael Sawan told the company’s staff that he “believes in urgent climate action,” despite shifting focus toward its core oil and gas businesses. The challenge in the transition to cleaner energy sources is affordability, Sawan said in an internal townhall meeting on Tuesday, according to people who attended. Under Sawan, … Read more
October 17, 2023 Calgary, AB 360 Energy Liability Management Ltd., a leading innovator in the engineering and environmental consulting space, is thrilled to announce a significant milestone in its journey with the launch of a new brand identity and revamped website. In a constantly evolving marketplace, 360 has adapted and grown to meet the ever-changing … Read more
Calgary, Alberta – October 10, 2023 – The energy industry needs to rethink the term “waste”. In the case of oil based drill cuttings, it’s not waste, it’s an energy rich recyclable. Recover Inc. (“Recover”) is a waste-to-energy technology company that recycles oil based drill cuttings and our technology can recover the base oil for … Read more
Suspending a sucker rod well is now simpler, faster and less expensive. Reasons to securely and properly suspend a well: temporarily suspend wells adjacent to a frack procedure. shut-in well has Methane leaking from the Stuffing Box. Incomplete running of rods maintenance on a producing well. Whatever your reason, Well Suspension Tools Ltd.’s line of … Read more
CALGARY — A wave of high-profile mergers and acquisitions in the Canadian oilpatch is a sign of an industry that is flush with cash and increasingly confident in the short- and medium-term outlook for fossil fuels, experts say.
Since the start of the …
Climate tech is no longer a bright spot in a challenging investment landscape. Private market equity and grant funding for climate tech startups globally totaled $65 billion in the 12 months ending Sept. 30, 2023 according to a new report from PricewaterhouseCoopers LLP. That marks a more than 40% decrease compared to the same period … Read more
(Reuters) – Canada’s second-largest oil producer, Suncor Energy, told Canadian lawmakers on Monday that the company remains committed to cutting carbon emissions, after its CEO’s earlier comments raised concerns the company was backtracking on climate pledges. CEO Rich Kruger also warned that unpredictability in Canadian energy policy is scaring away capital investment. Last week Canada’s … Read more
On Friday, October 13th, the Supreme Court of Canada (SCC) released its advisory opinion on The Impact Assessment Act (IAA), better known as Bill C-69. In a majority opinion, five to two, they found it to be unconstitutional in part because most sections of the Act go beyond Parliament’s legislative authority under the Constitution. Only … Read more
By Chris Gardner, Mike Martens, and Catherine Brownlee Embracing innovation, making timely decisions, and fostering investor confidence are the hallmarks of successful national economies around the world. The Supreme Court’s decision to scrap Bill C-69, the Impact Assessment Act (IAA), is a significant positive step in creating a better investment climate for major projects and … Read more
Global demand for liquefied natural gas is likely to prove stronger than expected and the current pipeline of projects won’t be enough to keep up, according to one of Japan’s top traders of the fuel. “Announced projects in the world still won’t make up for the supply needed when considering the energy transition that will take … Read more
(Reuters) – Tourmaline Oil on Monday agreed to buy rival Bonavista Energy for C$1.45 billion ($1.06 billion) in cash and stock, strengthening its position in Western Canada’s Deep Basin. The acquisition is expected to help Tourmaline, already the largest Deep Basin producer, exit 2023 with production of more than 600,000 barrels of oil equivalent per day. … Read more
Calgary, Alberta–(Newsfile Corp. – October 16, 2023) – Lycos Energy Inc. (TSXV: LCX) (“Lycos” or the “Company“) is pleased to advise that it has closed the previously announced acquisition (the “Acquisition“) of Durham Creek Exploration Ltd. (“DCEL“), a privately held, heavy oil producer. Lycos acquired all of the issued and outstanding common shares of DCEL for … Read more
CALGARY, AB, Oct. 16, 2023 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR) (TSXV: SRR.WT), a pure-play oil and gas royalty company with an established portfolio of light oil focused royalties, announces that its board of directors has declared a monthly dividend of $0.006 per common share, which represents a 9% increase to its previous monthly dividend. The increased monthly dividend … Read more
Unpredictability in Canadian energy policy is scaring away capital investment in the sector, the CEO of one of Canada’s largest oil producers, Suncor Energy, told a parliamentary committee on Monday. Rich Kruger made the comments days after Canada’s Supreme Court ruled that a key federal law assessing the environmental impact of major projects like oil … Read more
CALGARY, AB, Oct. 16, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to announce that it has entered into a definitive share purchase agreement with all of the shareholders of Bonavista Energy Corporation (“Bonavista“) to acquire all of the shares of Bonavista for $1.45 billion, consisting of $725 million in Tourmaline common shares and $725 million of cash, less Bonavista’s net debt(1)(2) at … Read more
Summary Oil prices surged nearly 6% on Friday Israel vows to demolish Hamas, prepares move on Gaza US Secretary of State Blinken heads to Israel on Monday LONDON, Oct 16 (Reuters) – Brent oil futures steadied above $90 a barrel on Monday after passing the threshold on Friday, as investors waited to see if the … Read more
By Aaron Foyer Emissions series: Scope 1, 2, 3 Explainer | Scope 4 Emissions When considering clean energy, it’s important to understand the energy and ultimately emissions being displaced. Replacing a high-carbon source with a low-carbon one, like replacing coal with wind power, helps reduce emissions. On the other hand, shifting from one low-carbon source to another … Read more
CALGARY — Tourmaline Oil Corp. announced an agreement Monday to buy Bonavista Energy Corp. in a deal worth $1.45 billion.
Under the acquisition, Tourmaline Oil will pay $725 million in shares and $725 million in cash, less Bonavista’s net debt at clos…
Quarterly production of 10,909 bopd in Q3 2023 Exit unrestricted cash liquidity of US$94 million on September 30, 2023 Calgary, Alberta and Houston, Texas–(Newsfile Corp. – October 16, 2023) – PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) (“PetroTal” or the “Company”) announces the following operational and corporate updates. Q3 2023 Production PetroTal achieved production … Read more
Summary IEA trims 2024 oil demand forecast to 880,000 bpd OPEC sticks to 2024 forecast of 2.25 million bpd IEA cites signs of demand destruction from higher prices LONDON, Oct 12 (Reuters) – The gap between two leading oil forecasters’ views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting … Read more
(Reuters) – Four years ago, Texas oilman Scott Sheffield saw the oil majors were moving aggressively into the top U.S. shale basin and plotted to make his then-$24 billion Pioneer Natural Resources the oilfield’s biggest prize. The CEO concentrated the business, exiting less productive properties and dumping an in-house service arm, and set out a mission … Read more
Summary Oil prices surged nearly 6% on Friday Israel vows to demolish Hamas, prepares move on Gaza US Secretary of State Blinken heads to Israel on Monday LONDON, Oct 16 (Reuters) – Brent oil futures steadied above $90 a barrel on Monday after passing the threshold on Friday, as investors waited to see if the … Read more
OTTAWA — Canada’s ongoing political battle between climate action and the economic benefits of the oil and gas industry will be on full display today as the CEO of oilsands giant Suncor appears at a House of Commons committee.
Rich Kruger was invited …
‘We want to make sure that our assets are run as sustainably as possible’ By Mario Toneguzzi and Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo courtesy Gibson Energy Calgary-based Gibson Energy has entered into a 15-year agreement to power more than half of its annual electricity … Read more
In the rapidly evolving energy sector, the need for efficient and reliable technology is paramount. A+ Corporation’s Genie® Membrane Separators stand out as a significant innovation, offering a plethora of benefits to the industry. Westech Industrial, a trusted distributor of A+ Corporation in Canada, is at the forefront of delivering this transformative technology to the … Read more
Westech Industrial is gearing up to make a significant impact at the upcoming Grande Prairie Canadian School of Hydrocarbon Measurement event scheduled for October 26th at the Tara Centre, Evergreen Park. With a booth set up at spot 14, attendees will have the opportunity to engage with Westech’s experts, explore their innovative solutions, and gain … Read more
The energy industry is one of the most challenging and rewarding sectors for engineers. They work on complex projects that involve high-risk activities and cutting-edge technologies. However, these projects also pose significant safety hazards for workers, such as fire, risk of exposure to chemicals, and high-pressure wells. Engineers need to apply engineering and technical solutions to ensure … Read more
Transporting and storing natural gas or oil are task-heavy processes. Then add complex regulations, communication dilemmas, and forecasting failures. Midstream operators, large and small, can maximize profitability and increase day-to-day operational efficiencies while removing transactional complexity with ESG Latitude. A comprehensive pipeline & storage management software platform will allow you to: Keep up with changing … Read more
(Reuters) – U.S. energy firms this week added the most oil rigs since March, boosting the oil and gas rig count for the first time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose three … Read more
(Reuters) – President Vladimir Putin on Friday dismissed as “rubbish” the idea that Russia had damaged a gas pipeline between Finland and Estonia and suggested such claims were made up to divert attention from what he said was a Western attack on Nord Stream. Helsinki said on Tuesday that a subsea gas pipeline and a … Read more
By Tegan Hill and Elmira Aliakbari, Fraser Institute Alberta home prices are surging. Now, new federal regulations aimed at “decarbonizing” the building sector will push housing prices in the province even higher with very little environmental benefit. As part of the Trudeau government’s 2030 emissions reduction plan, which aims to reduce Canada’s greenhouse gas emissions to 40 … Read more
Building wind farms off Atlantic Canada’s coast would be a game-changer that transforms the region into an “energy superpower” and boosts the country’s climate goals — if Canada gets more ambitious. That’s the message from prominent Canadian policy expert Peter Nicholson, who highlights the benefits of offshore wind for the country in an upcoming Public … Read more
CALGARY, Alberta, Oct. 13, 2023 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to announce that its farm-in partner, North American Helium Inc. (“NAH”), has served the Company notice of its intention to drill a joint well on the … Read more
(Reuters) – A war between Islamist group Hamas and Israel poses one of the most significant geopolitical risks to oil markets since Russia’s invasion of Ukraine last year. Unlike Russia, one of the world’s top oil and gas producers, Israel has very modest energy production. But there is a risk the war could spread to major … Read more
Summary Israeli military begins first ground raids into Gaza Saudi Arabia puts Israel deal on ice amid war, sources say US had imposed sanctions on tankers with Russian oil NEW YORK, Oct 13 (Reuters) – Oil prices leapt nearly 6% on Friday, with Brent posting its highest weekly gain since February, as investors priced in … Read more
Canada’s Supreme Court on Friday ruled a federal law assessing how major infrastructure projects like pipelines impact the environment is largely unconstitutional, a decision that will likely spur an overhaul of the environmental approval process.“The balance of the scheme… is ultra vires (beyond the powers of) Parliament and thus unconstitutional,” Chief Justice Richard Wagner wrote … Read more
OTTAWA, ON: The Canadian Taxpayers Federation is celebrating the Supreme Court of Canada’s ruling against the Impact Assessment Act. The CTF were official interveners at the Supreme Court. “The Supreme Court’s decision is a huge win for Canadian taxpayers and resource workers,” said Franco Terrazzano, CTF Federal Director. “This means the feds can’t use this law … Read more
Consumer spending also expected to remain weak through mid-2024 By Nojoud Al Mallees, Canadian Press Parliamentary Budget Officer Yves Giroux prepares to appear before a committee in Ottawa, on Monday, June 13, 2022. The parliamentary budget officer says higher interest rates will lead the economy to stagnate in the second half of the year, while … Read more
Robust process to address cost increases and tolling impacts CALGARY, AB, Oct. 12, 2023 /CNW/ – The Commission of the Canada Energy Regulator (CER) is reviewing the interim tolling application from Trans Mountain. Interim tolling allows a company to charge shippers to use a pipeline until a final tolling decision is made. The Commission outlined a process to handle the interim tolling … Read more
The Supreme Court of Canada has ruled against federal legislation dealing with the environmental effects of major developments.
Five out of seven judges found most of it unconstitutional, because it seeks to regulate activities within provincial juri…
By Irina Slav More From Irina Slav The other day I sat and wondered what I was going to serve you for Friday breakfast/lunch/dinner. It was a slow news week, which is always the case when something massive happens and all other news somehow stops existing. Luckily for me, one of my favourite people in … Read more
CALGARY — Business groups in Alberta are celebrating Friday’s decision by the Supreme Court of Canada that ruled the federal government’s impact assessment law is largely unconstitutional.
The legislation, formerly known as Bill C-69, was reviled in t…
CALGARY, ALBERTA, Oct. 11, 2023 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company”) is pleased to announce that it has successfully completed an upper zone that was behind pipe in a well in Pickaway County, Ohio. This upper zone has been a prolific hydrocarbon producing interval in other areas of Ohio and Marksmen … Read more
Natural resources are the foundation of our industrial economy, writes Margareta Dovgal. But under CleanBC, both could be wiped out with drastic consequences for the cost of living. BC’s budget for 2022-2023 now shows a surplus of $704 million, though at one point the prediction was for a deficit of $5.5 billion. What changed? The last two … Read more
Summary Supply concerns driving price gains US had imposed sanctions on tankers carrying Russian oil OPEC expects crude stockpiles to fall this quarter LONDON, Oct 13 (Reuters) – Oil prices leapt $3 on Friday after the U.S. tightened its sanctions programme against Russian crude exports, raising supply concerns in an already tight market, with global … Read more
Summary Norway is Europe’s largest gas supplier Security increased at energy facilities after Nord Stream Navy has been patrolling around North Sea platforms Intelligence services, energy firms working closer OSLO, Oct 13 (Reuters) – Norway, Europe’s largest gas supplier, is closely monitoring the progress of a probe into unexplained damage on a Baltic Sea gas pipeline, having … Read more
Summary IEA trims 2024 oil demand forecast to 880,000 bpd OPEC sticks to 2024 forecast of 2.25 million bpd IEA cites signs of demand destruction from higher prices LONDON, Oct 12 (Reuters) – The gap between two leading oil forecasters’ views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting … Read more
CALGARY — TC Energy Corp. is bringing back former chief executive Hal Kvisle to serve as chair of the board of the new liquids pipeline company it plans to spin off.
Kvisle was president and chief executive of TransCanada Corp., now named TC Energy, f…
CALGARY — Most of Canada’s small and mid-sized publicly traded companies are not at all prepared for potentially forthcoming new requirements that could force them to disclose their climate impacts, the CEO of the company that operates the Toronto Sto…
By Kenneth P. Green, Senior Fellow, Fraser Institute Every week, it seems, we get another report revealing the deep thoughtlessness and fiscal recklessness of Ottawa’s electric car and electric-car battery fixation. For example, the Parliamentary Budget Officer recently asked how long it will take for the federal government to see a return on the $28.2 billion of … Read more
OTTAWA, ON: The Canadian Taxpayers Federation is shining a light on the high cost of the federal carbon tax as the government sends out rebates tomorrow. “The Parliamentary Budget Officer is clear: the carbon tax costs families hundreds of dollars more than the rebates they get back,” said Franco Terrazzano, CTF Federal Director. “The PBO shows politicians … Read more
CALGARY — Exxon Mobil Corp.’s acquisition of Pioneer Natural Resources in a US$59.5 billion mega-deal is being seen by some as a massive vote of confidence in fossil fuels that also bodes well for the Canadian oilpatch.
Dan Tsubouchi, principal and ch…
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 35 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
Without oil and gas products, Canada would not be the world’s fifth largest exporter of agricultural products By Cody Ciona Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Getty Images photo With fall in full swing, Canada’s farmers are hard at work harvesting the various grains and crops that … Read more
LONDON, Oct 12 (Reuters) – OPEC on Thursday stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs of a resilient world economy so far this year and expected further demand gains in China. World oil demand will rise by 2.25 million barrels per day (bpd) in … Read more
DUBAI, Oct 12 (Reuters) – OPEC+ does not have knee-jerk reactions to market challenges, Iraq’s oil ministry spokesperson said on Thursday, as Israel pounds Gaza in response to Hamas’ attack on Saturday. Security events were among the main factors that cause instability in global markets, Assim Jihad told Reuters, adding their impact on supply and … Read more
HOUSTON/NEW YORK, Oct 12 (Reuters) – Exxon Mobil Corp’s resurgence under CEO Darren Woods and the upcoming retirement of Pioneer Natural Resources CEO Scott Sheffield were key to the oil major clinching the $60 billion acquisition, people familiar with the matter said. After brief informal conversations earlier this year, Exxon approached Pioneer about a deal last … Read more
BEIJING, Oct 12 (Reuters) – The European Union’s top energy official urged China to commit to renewable energy and methane reduction targets in talks in Beijing this week, but stopped short of calling on the Asian superpower to be more ambitious in cutting its carbon emissions. Kadri Simson held talks with China’s National Energy Administration … Read more
LONDON, Oct 12 (Reuters) – Oil prices rose about 1% on Thursday, reversing earlier falls, on expectations that U.S. interest rates had peaked, but a lower demand growth forecast for next year from the International Energy Agency and higher U.S. inventories limited further gains. Brent futures rose $1.01, or 1.20%, to $86.83 a barrel at … Read more
(Reuters) – Canada faces an uphill battle to recoup the roughly C$35 billion ($25.74 billion) in taxpayers’ money it has sunk into the Trans Mountain oil pipeline, as uncertainty over shipping tolls and a limited pool of buyers cloud the asset’s unique strategic value. The federal government plans to sell Trans Mountain once a long-delayed … Read more
CALGARY, Alberta, Oct. 12, 2023 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) is pleased to announce that distinguished industry leader Hal Kvisle has agreed to be appointed as Chair of the new Liquids Pipelines Company’s Board of Directors. Today’s announcement follows the July 27, 2023 … Read more
CALGARY — An environmental group has lodged a formal complaint with the Alberta Securities Commission over Suncor Energy Inc.’s climate risk disclosures.
Greenpeace Canada says Suncor may have failed to provide full, true and plain disclosure of all m…
Russian President Vladimir Putin overplayed his hand by trying to use Gazprom PJSC to bring Europe to its knees, and now his efforts to bolster the state-controlled gas giant are at the mercy of China. After years focusing Gazprom’s exports on pipelines to Europe and underinvesting in liquefied natural gas capacity, Putin has limited options for … Read more
Senior management at Pioneer Natural Resources will likely be out of a job once the company’s $60 billion sale to Exxon Mobil is completed, but the top brass will walk away with bumper payouts which were sweetened further earlier this year. The top five executives at the U.S. shale operator are set to share $71 … Read more
Global oil inventories are expected to fall by 200,000 bpd in the second half of 2023 due to voluntary output cuts from Saudi Arabia and reduced production among OPEC+ countries, the U.S. Energy Information Administration said on Wednesday. The lower inventories, which are forecast to keep global oil supply below consumption, are likely to boost … Read more
Calgary, Alberta–(Newsfile Corp. – October 11, 2023) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces that we will be participating in the Schachter 2023 Catch the Energy Conference (the “Conference“) on Saturday, October 14, 2023, in Calgary at Mount Royal University. Gary Sykes, Senior Vice President, Commercial and … Read more
CALGARY, Alberta, Oct. 11, 2023 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff”) (TSX: BIR) regretfully reports that there has been a contractor fatality at one of Birchcliff’s water storage pits located south of Baytree, Alberta. Emergency response personnel responded to the scene during the evening of October 10, 2023. Although the circumstances surrounding the incident are still … Read more
CALGARY — Birchcliff Energy Ltd. says a contractor has been killed on the job at one of the company’s sites in northern Alberta.
The Calgary-based oil and gas company says the incident occurred at one of its water storage pits located south of Bay Tre…
ach week, XI Technologies uncovers trends and insights using our enhanced data and software focused on the WCSB. If you’d like Word to the Wise delivered directly to your inbox, subscribe here. After a contentious vote, Pipestone Energy Corp (Pipestone) shareholders ultimately approved the deal to be acquired by Strathcona Resources Ltd. (Strathcona). Strathcona will now … Read more
Courtesy of Greenesa Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE In a tale as old as time, governments have been providing subsidies to support businesses and provide a boost to certain industries. In a tale as old as last summer, green energy subsidies kicked into high gear after the release of the US Inflation … Read more
View Great Career Opportunities and Apprenticeship Programs With Surepoint Group Here: From Martin Socha, Vice President Sales & Marketing at Surepoint Group The demand for skilled trades in Canada has indeed been on the rise, driven by factors such as an aging workforce, technological advancements, and ongoing infrastructure projects. However, several challenges and barriers have historically … Read more
Transforms ExxonMobil’s upstream portfolio, more than doubling the company’s Permian footprint and creating an industry-leading, high-quality, high-return undeveloped U.S. unconventional inventory position Expect to generate double-digit returns by recovering more resource, more efficiently and with a lower environmental impact Combines Pioneer’s sizeable acreage, entrepreneurial culture and deep industry expertise with ExxonMobil’s balance-sheet strength, advanced technologies … Read more
Canadian Imperial Bank of Commerce said prominent Indigenous business leader Mark Podlasly will join its board of directors.The bank confirmed Tuesday that Podlasly will be its first director to self-identify as Indigenous. Podlasly is chief sustainability officer of the First Nations Major Projects Coalition, a collective of 144 Indigenous nations aimed at owning major infrastructure … Read more
Academics at the University of Calgary are calling for a public review of the Alberta Energy Regulator, describing it as secretive and too close to industry.
In a peer-reviewed report issued by the university’s School For Public Policy, three authors …
Summary Brent, WTI down 0.6% Mercuria sees $100 oil if Middle East conflict escalates Saudi Arabia working to prevent Gaza conflict spreading Saudi and Russian officials to meet in Moscow Federal Reserve meeting minutes awaited for rate clues LONDON, Oct 11 (Reuters) – Oil prices edged lower on Wednesday, as fears of disruption to supplies … Read more
Summary Shipments from Russia, Iran, Venezuela make up 25% of imports – tanker tracking Total shipments from the trio at record 2.765 mln bpd Independent teapots benefit more than state refiners Upside capped by quotas and as state firms stay clear of Iranian, Venezuelan oil SINGAPORE, Oct 11 (Reuters) – China has reaped savings this … Read more
(Reuters) – U.S. energy major Exxon Mobil said it would acquire Pioneer Natural Resources in a deal valued at $59.5 billion to more than double the company’s presence in the Permian Basin, the largest shale play in the U.S. Once completed, it would be Exxon’s biggest acquisition since its $81 billion deal for Mobil in 1998. … Read more
Summary Oil prices spiked after Hamas attacks on Israel Moscow hosting energy conference Russia’s Putin to address the forum Saudi Arabia’s energy minister visits Moscow Russia is ready to boost fuel supplies to Saudi Arabia MOSCOW, Oct 11 (Reuters) – Saudi Arabia and Russia, the world’s top two oil exporters, on Wednesday discussed the situation … Read more
See Press Release Here NEW YORK/HOUSTON, Oct 11 (Reuters) – Exxon Mobil (XOM.N) will buy U.S. rival Pioneer Natural Resources (PXD.N) in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest U.S. oilfield, securing a decade of low-cost production. The deal would be Exxon’s biggest since its $81 billion purchase of … Read more
‘By embracing Canadian LNG, we can play a crucial role in providing affordable, secure, and cleaner energy sources’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Qatar’s Amir Sheikh Tamim bin Hamad Al Thani laid the foundation stone of the North Field expansion project in early … Read more
* WCS for November delivery in Hardisty, Alberta, settled at $21.25 a barrel under WTI, according to brokerage CalRock, having settled at $20.80 a barrel under the benchmark on Friday, the last trading day before the Canadian Thanksgiving holiday. * Canadian heavy crude prices have been widening this month as refinery maintenance weighed on demand … Read more
By Cody Good Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Small Modular Reactors (SMRs) have a history dating back several decades, and their development has been driven by various factors, including the need for safer and more flexible nuclear energy options. Here’s a brief history of SMRs: Early Concepts (1950s-1970s): The concept of … Read more
Federal Funding: A Vote of Confidence for the First Operational, Containerized Green Ammonia System in the World. WATERLOO, Ontario, Oct. 10, 2023 (GLOBE NEWSWIRE) — FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) (the “Company” or “FuelPositive”) announces that it will receive a funding grant of up to $1.9 million through the Research and Innovation Stream of … Read more
Top U.S. oil producer Exxon Mobil’s planned acquisition of the No. 1 Permian shale producer Pioneer Natural Resources could further restrain output growth in the largest U.S. oilfield, squeezing pipeline companies and suppliers, executives and energy advisors said. Consolidation, steep cost inflation and investor demands for returns have shrunk production growth this year in the … Read more
CALGARY, Alberta, Oct. 10, 2023 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce the appointment of Dan Bertram as Vice-President, Business Development and Chief Commercial Officer. “We are pleased to welcome Dan to our executive team. Dan possesses the right strategic and financial expertise to help execute … Read more
OPEC raised forecasts for global oil demand through to the middle of the century, even as the world shifts away from fossil fuels to avert climate change. Oil consumption will climb 16% over the next two decades to reach 116 million barrels a day in 2045, about 6 million a day more than previously predicted, … Read more
Summary Global renewable energy funds see Q3 $1.4 bln outflow Move only partially reverses big H1 inflows Sector assets down to $65.4 bln – LSEG Lipper data BENGALURU/LONDON, Oct 9 (Reuters) – Investors ditched renewable energy funds at the fastest rate on record in the three months to end-September as cleaner energy shares took a … Read more
(Reuters) – The global coal industry may have to shed nearly 1 million jobs by 2050, even without any further pledges to phase out fossil fuels, with China and India facing the biggest losses, research showed on Tuesday. Hundreds of labour-intensive mines are expected to close in the coming decades as they reach the end … Read more
Summary Siemens Energy reviews Siemens Gamesa sites -sources Blade production could be partly outsourced – sources Shares gain +2.5% FRANKFURT, Oct 9 (Reuters) – Siemens Energy is considering shutting down Siemens Gamesa factories and sales offices as part of a review aimed at reducing losses at the wind turbine business, three people familiar with the matter … Read more
Saudi Arabia’s Crown Prince Mohammed bin Salman had a vision for the Middle East that placed shared economic benefits at its heart — including an historic alliance with Israel. Even a potential solution over a Palestinian state didn’t seem beyond the realms of possibility — a longstanding sticking point between the two countries. “Good negotiations” … Read more
Summary Risk of Middle East conflict escalating pushes oil higher If Iran directly involved, U.S. could enforce sanctions -analysts US-Venezuela talks could provide oil sanctions relief LONDON, Oct 10 (Reuters) – Oil prices eased on Tuesday after rallying more than 4% in the previous session, with traders cautious as they watched for potential supply disruptions … Read more
CALGARY, Alberta, Oct. 10, 2023 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today announced the appointment of Mr. Preet Dhindsa as Interim Chief Financial Officer (“CFO”), effective October 13, 2023. Enerflex has retained an executive search firm and will consider Mr. Dhindsa and other candidates as part of its … Read more
Overview Economic signals generally continue to be a mixed set causing no consensus on the prospects for a recession or growth in 2023 or 2024. Interest rate increases by the central banks, hit a temporary pause but inflation trends remain uncertain and additional interest rate increases remain possible. Financial markets, especially in fixed income, financial … Read more
By: Superior Glove, leading safety glove innovator Every year, millions of workers get injured on the job, and a significant number of reported occupational injuries are hand related. The good news is that hand injuries are the number one preventable industrial accident across all industries. So, if hand injuries are so preventable, why are they … Read more
Parliament resumed sitting on September 18th. I took the first two days of the week in Calgary, as we hosted the World Petroleum Congress for the first time in 23 years. The event was a showcase for Canada’s oil and gas industry and our role in the emerging energy needs facing the whole world. Its theme – … Read more
The shock attack by Hamas and Israel’s response risk a wider destabilization of the region — and the global oil market is watching. There are sprawling questions about the geopolitical consequences of the conflict, which erupted 50 years after the Yom Kippur war that foreshadowed the 1970s oil crisis. There is no suggestion that the fallout from … Read more
Summary Shares jump 5.3% to rise above offer price Deal still requires shareholder approval Transaction likely to speed up country’s energy transition-ACCC SYDNEY, Oct 10 (Reuters) – Origin Energy (ORG.AX) shares soared 5.3% on Tuesday to top a Brookfield Corp-led (BN.TO) consortium’s A$15.35 billion ($9.76 billion) offer price after Australia’s competition regulator cleared the deal, which still requires shareholder … Read more
(Reuters) – The head of Exxon Mobil’s shale oil and gas business, a unit involved in merger talks with rival Pioneer Natural Resources, was arrested at a Texas hotel last week on a sexual assault charge, police said. David Scott, an Exxon senior vice president who oversees all its shale oil and gas production business, … Read more
Sweden’s H2 Green Steel is in talks with governments in Canada to build a factory in northern Quebec, as the young firm tries to deliver on a promise to customers — steel produced with minimal carbon emissions. The company is just starting on construction of its first plant in Boden, Sweden, with an ambitious goal … Read more
Canada contributed just 0.7% of the global amount of gas flaring despite being the world’s fourth-largest oil producer By Ven Venkatachalam and Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Download the PDF here Download the charts here Overview This Fact Sheet analyzes the upstream oil industry’s record on flaring … Read more
Goldman Sachs does not see any immediate major effect on near-term oil market inventories from the attacks in Israel over the weekend, it said in a note. It added, however, that the attacks reduce the likelihood of normalization of the country’s relations with Saudi Arabia, and the associated boost to Saudi production over time. Hamas’ … Read more
Exxon Mobil Corp. boss Darren Woods is poised to emulate his two predecessors with a career-defining mega deal that — for better or worse — would likely transform the oil giant. Exxon’s talks to buy Pioneer Natural Resources Co., a US rival with a market value of $55 billion, represent a strategic bet underpinned by … Read more
By George Hay (Reuters Breakingviews) – Another geopolitical hotspot has started flashing red. With companies and investors already keeping close tabs on the war in Ukraine and growing tension between the United States and China, an outbreak of deadly violence in Israel adds the danger of contagion across the Middle East. And it’s erupting just … Read more
OPEC raised forecasts for global oil demand through to the middle of the century, even as the world shifts away from fossil fuels to avert catastrophic climate change. Oil consumption will climb 16% over the next two decades to reach 116 million barrels a day in 2045, about 6 million a day more than previously … Read more
(Reuters) – The United Arab Emirates is refashioning state-owned Abu Dhabi National Oil Company (ADNOC) in the image of an international oil major by stepping up its global expansion and finding new revenue streams to maximise earnings for the Gulf state. Like Gulf neighbours Saudi Arabia and Qatar, the UAE wants to exploit its fossil … Read more
Oct 9 (Reuters) – Chevron’s two liquefied natural gas (LNG) facilities in Western Australia face a new wave of strikes from next week, unions said in a formal notice to the oil and gas major on Monday, after talks on an agreed pay deal fell apart. The seven-days notice for strike action at Chevron’s Gorgon … Read more
The White House may have blamed Exxon Mobil for high energy prices taking their toll on consumers, but would struggle to thwart the top U.S. oil producer’s contemplated $60 billion acquisition of Pioneer Natural Resources, five antitrust lawyers and experts said on Friday. Deal negotiations between Exxon and Pioneer are advanced but have not yet led … Read more
(Reuters) – Oil prices surged more than 2% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East. Brent crude was up $2.28, or 2.7%, to $86.86 a barrel by 0859 GMT, while U.S. West Texas Intermediate crude was at $85.23 a … Read more
(Reuters) – OPEC has raised its medium- and long-term oil demand outlook in a forthcoming report, three OPEC sources said, despite the transition toward renewable energy, highlighting the oil exporting group’s more bullish view compared to other forecasters. The Organization of the Petroleum Exporting Countries is scheduled to update its long-term oil demand forecasts in … Read more
CALGARY — The CEO of Enbridge Inc. is calling on the federal government to create a national Indigenous loan guarantee program to help First Nations communities in Canada acquire equity stakes in major resource and infrastructure projects.
In an inter…
98% of pipe installed, all water crossings complete By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter As construction on Coastal GasLink winds down, crews are working to cleanup and reclaim the land. Clay and topsoil removed during construction has been stored on site and will now … Read more
The Zero Carbon Step Code and its natural gas ban will have dramatic impacts on housing affordability and the cost of living. Pushed by activist campaigns and BC government plans, a number of BC communities have moved to curtail or ban the use of natural gas for heating (or cooking) in new homes and buildings. … Read more
OTTAWA — A Secwépemc law called X7ensq’t says that if you disrespect the land and don’t take care of it properly, the land and the sky will turn on you.
“It’s a serious law,” said Mike McKenzie, a Secwépemc knowledge keeper. He said he wonders “how mu…
CALGARY, AB, Oct. 6, 2023 /PRNewswire/ – Today, Greg Ebel, President & Chief Executive Officer of Enbridge Inc. (Enbridge or the Company) called on Canada to show leadership to the world in lowering global emissions, reducing energy poverty and supporting the progress of Indigenous communities in the country. In a keynote address to the Toronto … Read more
Line fill on the Trans Mountain oil pipeline expansion will start in the first quarter of 2024 and take about six to seven weeks to complete, the Canadian government-owned corporation building the project said on Friday. Line fill will require about 4.5 million barrels of oil, Trans Mountain Corp said, adding that the expansion project … Read more
US job growth sizzles; wage inflation cooling Russia lifts ban on most diesel exports US oil rig count at lowest since Feb 2022 -Baker Hughes NEW YORK, Oct 6 (Reuters) – Oil prices rose on Friday but remained posted their steepest weekly losses since March, after another partial lifting of Russia’s fuel export ban compounded … Read more
Oct 6 (Reuters) – U.S. energy major Exxon Mobil (XOM.N) is in advanced talks to buy shale producer Pioneer Natural Resources (PXD.N) in a $60 billion deal, sources familiar with the matter said. It would be Exxon’s biggest acquisition since its $81 billion deal for Mobil in 1998 and could deepen the company’s position in the country’s most lucrative oil … Read more
Oct 6 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row for the first time since early September, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and gas rig count, an early indicator of … Read more
Wael Sawan sets up town hall for later this month to discuss clean energy strategy and investment shift Bloomberg News Sawan has faced a backlash from environmentalists for placing shareholder returns at the heart of his strategy and renewing focus on the core oil and gas business. While many staff have been supportive of this … Read more
Greg Ebel, Special to Financial Post More Energy Articles from the Financial Post Here Canada has stood tall in pivotal moments throughout history to address major global concerns and crises, from heroic efforts in world wars to prime ministers who prompted others to do the right thing. That was the case when Lester B. Pearson pulled … Read more
(Reuters) – Oil prices were stable on Friday but were on course for a week-on-week loss, as demand fears driven by macroeconomic headwinds were compounded by another partial lifting of Russia’s fuel export ban on Friday. On Friday, Brent futures were up 15 cents, or 0.18%, at $84.22 at 0817 GMT, while U.S. West Texas … Read more
(Reuters) – Oil prices were stable on Friday but were on course for a week-on-week loss, as demand fears driven by macroeconomic headwinds were compounded by another partial lifting of Russia’s fuel export ban on Friday. On Friday, Brent futures were up 15 cents, or 0.18%, at $84.22 at 0817 GMT, while U.S. West Texas … Read more
(Reuters) – Workers at Chevron’s (CVX.N) two liquefied natural gas (LNG) facilities in Western Australia voted to restart strikes on Friday, endorsing a similar move by colleagues at a meeting less than 24-hours earlier. Night-shift workers at Chevron’s Gorgon and Wheatstone facilities voted to restart strikes in the afternoon meeting, the Offshore Alliance, a coalition … Read more
CALGARY, Alberta, Oct. 05, 2023 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential”) announces that it has filed a management information circular along with the related meeting and proxy materials (the “Meeting Materials”) for the special meeting (the “Meeting”) of the shareholders of Essential (“Shareholders”) to be held on November 7, 2023 at … Read more
The month of October marks our 2nd anniversary of Sideworx Connect Inc. There’s an undeniable sense of joy in reflecting on the remarkable progress we’ve made over the past year. It’s truly gratifying to share our ambitious plans and express my heartfelt gratitude to all of you for your unwavering support. One of our proudest … Read more
GUERNSEY, Sask. — A Transportation Safety Board of Canada report says an undetected broken rail led to a fiery train derailment in Saskatchewan in 2019 that spilled about 1.77 million litres of oil.
The Canadian Pacific Railway train, which had 101 c…
‘These investment statistics reflect the extent of this industry’s commitment to sustainable development and clean tech innovation’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Cenovus Energy’s Sunrise oil sands project in northern Alberta. Photo courtesy Cenovus Energy Led by producers in the oil sands, … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Wednesday: WCS for November delivery in Hardisty, Alberta, settled at $20.75 a barrel under WTI, according to brokerage CalRock, weakening from a close of $19.75 a barrel under the U.S. benchmark on Tuesday. The deeper … Read more
Global crude oil prices could drop to about $60 per barrel by 2027 as demand growth slows, say oil analysts at Rystad Energy, chopping a third off next year’s peak price as demand tumbles. Their outlook is a reassuring message amid recent Wall Street analysts predicting up to $150 per barrel in the next two … Read more
Calgary, Alberta–(Newsfile Corp. – October 4, 2023) – Blacksteel Energy Inc. (“Blacksteel” or the “Corporation“) is providing this update on the status of the management cease trade order granted September 1, 2023 by its principal regulator, the Alberta Securities Commission, under National Policy 12-203 – Management Cease Trade Orders, following the Corporation’s announcement on August 25, 2023 that … Read more
Last month the International Energy Agency published its second Net Zero Roadmap report, which describes a way for the global economy to meet the goals of the Paris Agreement. The first edition of the report, in 2021, was a departure for an organization known more for its detailed data than its normative view of the future. This year’s … Read more
CALGARY — A new report says the coming startup of the Trans Mountain pipeline will help boost Canadian oil production to an all-time high within the next two years.
The report by Deloitte Canada says the extra capacity created by the pipeline is expec…
(Reuters) – Efforts to finalise a pact to end strikes at Chevron’s two Australian liquefied natural gas (LNG) plants hit a snag on Thursday, with unions accusing the U.S. energy major of reneging on commitments and potentially gearing up to resume stoppages. Workers called off strikes less than two weeks ago after unions and Chevron accepted … Read more
Summary Oil settled more than $5 lower on Wednesday Weaker US, European economic data signal demand woes Lower price may reduce chance of OPEC+ cut easing – analyst LONDON, Oct 5 (Reuters) – Oil prices fell by more than $1 on Thursday, extending the previous session’s sharp losses as an uncertain demand outlook overshadowed any … Read more
The Keystone crude pipeline, a vital artery transporting Canadian oil to markets in the US and overseas, is operating at about half of its capacity Tuesday after being halted for maintenance work. line returned to service Tuesday night after being taken offline earlier in the same day, according to people with knowledge of the situation, … Read more
CALGARY — Birchcliff Energy Ltd. has announced the retirement of chief executive officer Jeff Tonken.
The Calgary-based intermediate oil and gas producer says in a press release that Tonken will be replaced by the company’s current president and chief…
‘When you think about the demand for more sustainable outcomes: clean air, clean water, clean energy, safe, nutritious, abundant food and electric vehicles, that’s more and more and more chemistry’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Worker inspecting parts from plastic injection moulding machine … Read more
CALGARY — TC Energy Corp. says it has closed its previously announced sale of a 40 per cent stake in its Columbia Gas Transmission and Columbia Gulf Transmission systems to New York City-based Global Infrastructure Partners for $5.3 billion.
The proc…
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 35 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
CALGARY — French company TotalEnergies says it has finalized its sale of its 50 per cent stake in the Surmont oilsands project to U.S. oil company ConocoPhillipsin a deal worth up to $4.4 billion.
Canadian oil producer Suncor Energy Inc. had announced…
CALGARY, AB, OCT. 4, 2023/ Keyera Corp. (TSX: KEY) (“Keyera”), one of Canada’s largest independent midstream energy infrastructure businesses, recently completed the KAPS pipeline – Alberta’s newest natural gas liquids (NGLs) and condensate pipeline spanning 575 kilometres, and supporting Canada’s role on the global energy stage. KAPS is operated by Keyera and 50% owned by Stonepeak, a leading … Read more
All financial figures are in Canadian dollars, unless noted otherwise Includes a 31.23% working interest in the Fort Hills project, with Suncor now owning 100% Adds 61,000 barrels per day of bitumen production capacity, 675 million barrels of 2P reserves Secures additional long-term bitumen supply to fill Suncor’s Base Plant upgraders Calgary, Alberta–(Newsfile Corp. – … Read more
CALGARY — More than 50 Alberta CEOs, entrepreneurs and industry leaders are in Ottawa this week in an effort to raise the profile of their province and promote “collaboration” on issues related to energy, climate and the economy.
Led by a consortium o…
HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced that it has completed the purchase of the remaining 50% interest in Surmont from TotalEnergies EP Canada Ltd. for approximately $2.7 billion cash (CAD$3.7 billion) after closing adjustments, as well as future contingent payments of up to approximately $0.3 billion (CAD$0.4 billion). ConocoPhillips now owns 100% of Surmont and will continue as … Read more
Proceeds from transaction significantly accelerate deleveraging and deliver key 2023 strategic priority CALGARY, Alberta, Oct. 04, 2023 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it has successfully completed the sale of a 40 per cent non-controlling equity interest in its Columbia Gas Transmission, LLC (Columbia … Read more
Birchcliff also Announces Other Executive Leadership Changes and New Board Appointment CALGARY, Alberta, Oct. 04, 2023 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) announces that, as part of its orderly and planned leadership succession process, Jeff Tonken will retire as Chief Executive Officer effective December 31, 2023 and Chris Carlsen, currently the … Read more
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Word to the Wise in your inbox, subscribe here. Twice a year, XI Technologies reaches into the public data stored in its … Read more
WCS price differentials expected to narrow as TMX pipeline comes online CALGARY, AB, Oct. 4, 2023 /CNW/ – Canadian oil producers are likely to enjoy higher crude prices next year when the TMX pipeline begins transporting about 590,000 bbl/d for export, according to the latest forecast from Deloitte Canada’s Resource Evaluation and Advisory (REA) group. Much of … Read more
Calgary, Alberta–(Newsfile Corp. – October 4, 2023) – Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) (“Saturn” or the “Company”) is pleased to announce it placed No. 18 on the 2023 Report on Business ranking of Canada’s Top Growing Companies. Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Saturn … Read more
(Bloomberg) A freeze in Canada’s equity capital markets may be thawing, but Bank of Montreal’s head of that business isn’t anticipating a spike in activity any time soon. “From what we’re seeing, the worst is behind us — and that was probably last year,” Peter Miller, head of equity capital markets for BMO Capital Markets, said … Read more
(Reuters) – Saudi Arabia and Russia on Wednesday said they were continuing voluntary oil cuts to year end as tightening supply and rising demand support oil prices. The Saudi and Russian statements come hours before a ministerial monitoring panel of the OPEC+ group of leading oil producers convenes online later on Wednesday. The panel, called … Read more
LONDON, Oct 4 (Reuters) – Oil fell by over $3 a barrel on Wednesday, as demand fears stemming from macroeconomic headwinds offset pledges by Saudi Arabia and Russia to continue crude output cuts to the end of 2023. Brent crude oil futures were down $3.30, or 3.63%, to $87.62 a barrel at 1456 GMT, while … Read more
(Reuters) – Dealmaking is picking up in the Permian basin, the largest U.S. oil patch, as drillers look to quickly rebuild their depleting assets. Permian is a prime target for producers looking to increase their inventory. The shale patch, which lies between Texas and New Mexico, has the necessary infrastructure and is known for high … Read more
CALGARY, Alberta, Oct. 04, 2023 (GLOBE NEWSWIRE) — Prospera Energy Inc. (“Prospera” or the “Company”) (TSX.V: PEI, OTC: GXRFF, FRA: OF6B, OF6B.SG, OF6B.F, OF6B.BE). Prospera’s two of the five horizontal wells have commenced production over a week and have each yielded 125bpd/well with less than one percent water cut. These new horizontals were brought on … Read more
The carbon tax makes your groceries more expensive. You already knew that. But did you know that you now have a great opportunity to push the government to provide you some relief from the carbon tax? Members of Parliament passed Bill C-243. It would remove the carbon tax on the natural gas and propane that … Read more
[Calgary, September, 2023] – Stress Engineering Services Canada is proud to announce the promotion of Kenneth Farrow, PhD, PE, PEng, to the esteemed position of Senior Vice President and Chief Operating Officer. In his new role, Dr. Farrow will assume responsibility for the strategic leadership and operational excellence of Stress Engineering Services Canada. With a … Read more
CALGARY — Strathcona Resources Ltd. says it has closed its merger with Pipestone Energy Corp.
Pipestone shareholders voted to approve the deal last week in a move to create the fifth largest oil producer in Canada.
Under the terms of the deal, Pipest…
About the 2023 Catch the Energy Conference GET TWO FREE TICKETS FROM ENERGYNOW – ONLY 20 TECKETS AVAIALBLE Request Your Ticket(s) Here – Maximum of 2 per request – Please only request a ticket if you plan to attend. Ticket value is $179.00/each + GST Don’t miss out! Spots are filling up quickly … Read more
CALGARY, AB, Oct. 3, 2023 /PRNewswire/ – Strathcona Resources Ltd. (“Strathcona”) announced today that it has closed the acquisition (the “Acquisition”) of Pipestone Energy Corp. (“Pipestone”). The Acquisition will result in Strathcona becoming a publicly traded reporting issuer on the Toronto Stock Exchange. The Acquisition was structured through a plan of arrangement under the Business Corporations Act (Alberta), where … Read more
Calgary, Alberta–(Newsfile Corp. – October 3, 2023) – Cardinal Energy Ltd. (TSX: CJ) (“Cardinal” or the “Company“) is pleased to announce it has completed an asset acquisition within its core operating areas for a purchase price of approximately $25.0 million. Based upon internal estimates effective July 1, 2023, the properties add an estimated 2.0 million barrels of … Read more
CALGARY, AB, Oct. 3, 2023 /CNW/ – Waterous Energy Fund Management Corp. (the “WEF Manager“), in its capacity as manager of certain limited partnerships, including but not limited to, Waterous Energy Fund (Canadian) LP, Waterous Energy Fund (US) LP, Waterous Energy Fund (International) LP and Waterous Energy Fund II Aggregator LP (together with certain other limited partnerships … Read more
Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Last week, a number of high-ranking officials from both the US and Canada publicly discussed “blackouts” and “instability”. Far from harking back to college Saturday night, this was all about the power grid. What’s happening: Grid operators on both sides of the 49th publicly raised concerns over … Read more
(Reuters) – Oil prices dipped on Tuesday, after falling to a three-week low in the previous session, on a stronger U.S. dollar, a darkening global macroeconomic outlook and mixed supply signals. Brent futures crept 56 cents lower to $90.15 a barrel by 1212 GMT, while U.S. West Texas Intermediate crude (WTI) , fell 42 cents … Read more
Large swathes of the global oil industry will pledge to eliminate methane emissions and gas flaring by the end of the decade, the president of the COP28 climate summit said. More than 20 oil and gas producers, from both the private and state sectors, have made the commitment alongside setting targets to reach net zero … Read more
As OPEC+ ministers prepare to review global oil markets, the group is showing no signs of cooling a rally that brought prices near $100 a barrel. Crude has soared more than 20% in three months as alliance leaders Saudi Arabia and Russia squeeze supplies while world fuel demand hits records. The surge threatens to undermine … Read more
Ministers and oil industry chiefs are gathering for the biggest energy conference in the Middle East as crude heads toward $100 a barrel. Whether prices can hold at these levels and the outlook for OPEC+ supply cuts are among topics that will be discussed from Monday. But this year, climate is looming large over the forum. Delegates at … Read more
(Reuters) – Canadian investment firm Brookfield (BN.TO) is buying the renewable energy division of Banks Group, the UK-based firm, whose businesses also include mining and transport, said on Tuesday. The Financial Times, which first reported the news, said the deal was worth about $1 billion, citing people with knowledge of the matter. The Banks Group’s statement did not … Read more
CALGARY, Alberta, Oct. 03, 2023 (GLOBE NEWSWIRE) — Hammerhead Energy Inc. (“Hammerhead” or the “Company”) (TSX: HHRS; NASDAQ: HHRS) is pleased to announce the expansion of its credit facility to C$450 million (from C$350 million) effective September 27, 2023. The increase in the credit facility was achieved through a combination of increased commitments by the … Read more
By Canada Action As the world grapples with balancing economic growth, energy security, and environmental responsibility, Canadian oil and natural gas offer a strategically advantageous solution. Global demand for all forms of energy continues to rise – especially in developing economies like India and China – and Canada, a leading oil and natural gas producer, … Read more
CALGARY — Shares of Enerflex Ltd. sank more than 20 per cent in afternoon trading after the company announced the resignation of its chief financial officer for the second time in less than a year.
The company says Rodney Gray has stepped down from th…
Calgary, Alberta–(Newsfile Corp. – October 2, 2023) – Greenfire Resources Ltd. (NYSE: GFR) (“Greenfire” or the “Company”) a Calgary-based energy company focused on the sustainable production and development of thermal energy resources from the Athabasca region of Alberta, Canada, is pleased to announce that Tony Kraljic has been appointed Chief Financial Officer of the Company. … Read more
Portfolio investors appear to have finished their petroleum buying as benchmark crude prices climbed towards $100 per barrel, prompting concerns about the trade becoming crowded and some profit-taking. Hedge funds and other money managers sold the equivalent of 25 million barrels in the six most important petroleum futures and options contracts over the seven days … Read more
ABU DHABI, United Arab Emirates (AP) — The Emirati president-designate of the upcoming United Nations COP28 climate talks urged oil and gas companies Monday to be “central to the solution” to fighting climate change, a message delivered even as the in…
(Reuters) – Oil prices held steady on Monday after suffering losses at the end of last week, as investors’ focus returned to a tight global supply outlook while a last-minute deal that avoided a U.S. government shutdown restored some risk appetite. Brent December crude futures rose 17 cents, or 0.18%, to $92.37 a barrel by … Read more
(Reuters) – Oil prices held steady on Monday after suffering losses at the end of last week, as investors’ focus returned to a tight global supply outlook while a last-minute deal that avoided a U.S. government shutdown restored some risk appetite. Brent December crude futures rose 17 cents, or 0.18%, to $92.37 a barrel by … Read more
Major oil and gas company chiefs held discussions with heavy industry bosses on Sunday in the United Arab Emirates in an effort to agree to a firm commitment to reduce carbon emissions ahead of a United Nations climate summit next month. The COP28 summit is scheduled to take place in Dubai between Nov. 30 and … Read more
As the aviation industry looks to achieve carbon-neutral status by 2050, sustainable aviation fuel has emerged as the magic potion to propel airlines and manufacturers into that era. But initial enthusiasm about the fuel has given way to a more realistic, if not downright pessimistic, view on the industry’s ambitious target. SAF is still scarce … Read more
CALGARY — Splashed across billboards and city buses, onnewspaper spreads and Facebook feeds, the “Let’s Clear the Air” ad campaign by the Pathways Alliance group of oilsands companies is a multi-million-dollar public relations blitz by an industry kee…
Ministers and oil industry chiefs are gathering for the biggest energy conference in the Middle East as crude heads toward $100 a barrel. Whether prices can hold at these levels and the outlook for OPEC+ supply cuts are among topics that will be discussed from Monday.But this year, climate is looming large over the forum. Delegates at the … Read more
Summary OPEC output rises 120,000 bpd from August – survey Iranian production hits new 2018 high of 3.15 million bpd Quota-bound members undershoot implied target by 700,000 bpd LONDON, Oct 2 (Reuters) – OPEC oil output rose for a second straight month in September, a Reuters survey found on Monday, led by increases in Nigeria … Read more
ABU DHABI, Oct 2 (Reuters) – Shell has no plans to change direction in the oil major’s strategy, Chief Executive Officer Wael Sawan told the ADIPEC energy conference in Abu Dhabi on Monday. “Ultimately the shareholder needs to make a judgment whether the low carbon energy options we’re putting in front of them are investable, and … Read more
CALGARY, Alberta, Oct. 01, 2023 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today announced that Rodney D. Gray has resigned from his role as Senior Vice President and Chief Financial Officer (“CFO”) to pursue other opportunities. Enerflex has initiated a search process to identify the Company’s next CFO and … Read more
Introduction Pressure instruments, including gauges, switches, and transducers, are indispensable components in various industrial applications. They measure and monitor pressure to indicate the efficiency and effectiveness of your process systems. However, when these instruments break down, the repercussions can be serious—endangering not just the efficiency of your operations but also the safety of your personnel. … Read more
PACS is a software that establishes a complete digital evaluation and workflow among inspection management systems, testing devices and service contractors. Inspection orders, images and results are automatically exchanged between the systems, eliminating disruptive media breaks in information transfer, such as Excel lists, USB Sticks, emails, paper reports etc. Another feature of PACS is a … Read more
By Devin Lacy Carbon capture and storage (CCS) is widely held to be a critical part of the mix of actions, technology, policy and strategy the world needs to reduce carbon emissions and mitigate climate change. Despite this need to rapidly adopt CCS as part of a carbon-reduction initiative, there are still significant challenges facing … Read more
Will you be joining us at the IADC/SPE Managed Pressure Drilling & Underbalanced Operations Conference & Exhibition at the Grand Hyatt in Denver on October 3rd and 4th, 2023? We invite you to visit booth 8, where our team at Beyond Energy will be available to provide in-depth information about our cutting-edge Managed Pressure Drilling … Read more
EDMONTON — Documents filed by Imperial Oil Ltd. show the company and Alberta’s energy regulator knew the Kearl oilsands mine was seeping tailings into groundwater years before a pool of contaminated fluid was reported on the surface, alarming area Fir…
At the biggest Middle Eastern energy conference this week, oil won’t be top of the agenda. Ministers and business chiefs will gather in Abu Dhabi for the Adipec summit, an annual gathering where oil investment, production and markets have been dominant topics in the forum’s long-running history. This time around, climate is likely to take … Read more
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