(Reuters) – Oil prices jumped more than $1 a barrel on Thursday, closing out the month higher on the prospect of OPEC+ staying the course on production cuts, ongoing attacks on Russia’s energy infrastructure and a falling U.S. rig count tightening crude supplies. Brent crude futures for May settled at $87.48 a barrel, its highest level since Oct. … Read more
Calgary, Alberta–(Newsfile Corp. – March 28, 2024) – Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (“Journey” or the “Company“) is pleased to provide updated guidance for 2024 with a focus on advancing its power business, and improving long-term sustainability. 2024 CAPITAL PROGRAM Upon closing the previously announced convertible debenture financing on March 20, 2024, Journey used a … Read more
NEW YORK, March 27 (Reuters) – Fuel suppliers in Baltimore will face some trucking delays and other minor logistical issues after the collapse of a major bridge earlier this week shut the city’s port indefinitely, market participants said on Wednesday. A cargo ship smashed into the Francis Scott Key Bridge on Tuesday, causing parts of … Read more
CALGARY, AB, March 28, 2024 /PRNewswire/ – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX: VET) (NYSE: VET) will release its 2024 first quarter operating and condensed financial results on Wednesday, May 1, 2024 after the close of North American markets. The unaudited interim financial statements and management discussion and analysis for the … Read more
CALGARY, Alberta, March 28, 2024 (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 and … Read more
(Reuters) – More than a fifth of global oil refining capacity is at risk of closure, energy consultancy Wood Mackenzie found in analysis published on Thursday, as gasoline margins weaken and the pressure to reduce carbon emissions mounts. Of 465 refining assets analysed, the consultancy ranked about 21% of 2023 global refining capacity at some … Read more
Russia’s pledge to cut output has sparked talk of a return to triple digits, but there are obstacles ahead. – Oil prices have the potential to rally to $100 a barrel by the end of the Northern Hemisphere’s summer, but there’s a lot that could send that forecast awry. Analysts at JPMorgan Chase & Co. … Read more
Record oil production. Booming exports. Rapid jobs growth. Soaring CEO pay and shareholder returns. Almost no matter the metric, the U.S. oil and gas industry has flourished under President Joe Biden, even though his administration has pushed hard to transition the U.S. economy toward a carbon-free future to fight climate change. By Prinz Magtulis, Nichola … Read more
By Kenneth P. Green, Ross McKitrick, Elmira Aliakbari With the federal carbon tax set to rise from $65 to $80 per tonne on April 1, two new essays—published by the Fraser Institute—make two opposing arguments, to retain the tax (after fixing it) and to scrap the tax. According to the first essay, Reforming the Federal … Read more
Canadian crude shipments to Los Angeles are surging, a possible preview of how an expanded pipeline that’s nearing startup may redraw flows along the Pacific Coast. Three tankers carrying a total of 1.74 million barrels have sailed from Vancouver to the biggest U.S. West Coast city in March, the most in at least four years, according … Read more
Despite a court ruling late last year, which deemed the Trudeau government ban on single-use plastic (cutlery, straws, grocery bags, etc.) “unreasonable and unconstitutional,” the ban essentially remains in place pending appeal or further regulatory action. But according to the government’s own data and analysis, plastic waste is a virtual non-issue in Canada, as 99 … Read more
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since mid-January, energy services firm Baker Hughes said in its closely followed report on Thursday. The oil and gas rig count, an early indicator of future output, fell by … Read more
Bloomberg US oil prices are more than high enough to make drilling new wells profitable but some shale bosses say they’re hesitant because of political and regulatory “uncertainty” that won’t be settled until the November election, according to the Federal Reserve Bank of Dallas. “Until the next administration is decided, we’re in a state of flux when … Read more
CALGARY, AB, March 28, 2024 /CNW/ – Tenaz Energy Corp. (“Tenaz”, “We”, “Our”, “Us” or the “Company”) (TSX: TNZ) is pleased to announce financial and operating results for the three months and year ended December 31, 2023. The related audited consolidated financial statements, as well as Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2023 and Annual Information Form (“AIF”) … Read more
(Reuters) – Oil prices edged up on Thursday, following two consecutive sessions of decline, as investors reassessed the latest data on U.S. crude oil and gasoline inventories and returned to buying mode. Brent crude futures for May were up 40 cents, or 0.5%, at $86.49 a barrel while the more actively traded June contract rose … Read more
Summary Brent forecast raised to $82.33 a barrel for 2024 WTI projection lifted to $78.09 a barrel First upward revision in 2024 price forecasts since October (Reuters) – Oil prices will gain some momentum this year as demand picks up and output curbs by the OPEC+ producer group continue to squeeze supply that is already … Read more
Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 36 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
Ottawa’s EV mandate unrealistically requires the equivalent of 10 new mega hydro dams or 13 large natural gas plants nationwide within 11 years By Cornelis “Kees” van Kooten Governments are implementing measures to electrify transportation. In Canada, federal policy mandates that by 2035 all new passenger vehicles and light trucks sold have net zero emissions, … Read more
CALGARY — The Calgary Chamber of Commerce is warning Ottawa that its proposed cap on emissions from the oil and gas sector could compromise the valuation and sale of the Trans Mountain pipeline.
The business group made the argument Wednesday in an ope…
CALGARY, AB, March 27, 2024 /CNW/ – The Commission of the CER has approved NOVA Gas Transmission Ltd.’s (NGTL) North Montney Mainline (NMML) tolling application. The Commission’s approval allows the company to continue with its existing tolling methodology. In 2017, the NEB approved the construction of the 204 km North Montney Mainline. In 2019, NGTL sought approval for … Read more
Global trade flows have showed signs of accelerating at the start of 2024, as the major industrial economies began to pull out of the slump that started in late 2022, which should boost demand for transport fuels such as diesel. Short-term activity indicators have been distorted by unusual weather patterns across North America and Europe, … Read more
(Reuters Breakingviews) – A few years ago, it was much better to sell liquefied natural gas than to buy it. Vladimir Putin’s invasion of Ukraine in early 2022 caused the price of European gas to spike to over 300 euros per megawatt hour (MWh), 15 times its long-term level before 2021. As gas producers crank … Read more
Summary Climate Action 100+ assessed 10 top oil companies Companies ‘alarmingly unprepared’, TPI Centre’s Sharp U.S. companies perform worse than European peers LONDON, March 27 (Reuters) – The current low-carbon transition plans of 10 of Europe’s and North America’s biggest listed oil and gas companies are not good enough to assess the risks involved, the … Read more
(Reuters) – Oil prices fell for a second day, dropping more than 1% on Wednesday on surging U.S. stockpiles and signs that the OPEC+ producer group is unlikely to change its output policy at a technical meeting next week. Brent crude futures for May dropped 97 cents, or 1.12%, to $85.28 a barrel by 0929 … Read more
CALGARY, AB, March 26, 2024 /PRNewswire/ – Strathcona Resources Ltd. (“Strathcona” or the “Company”) (TSX: SCR) today reported its fourth quarter and full year 2023 financial and operating results. Highlights (Q4 2023) Production of 186,064 boe / d (71% oil and condensate, 77% liquids)(1) Operating Earnings of $202.1 million ($0.94 / share)(2) Free Cash Flow of … Read more
CALGARY, Alberta, March 26, 2024 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and twelve months ended December 31, 2023 and to provide 2023 year end reserves information as evaluated by Insite Petroleum Consultants Ltd. (“Insite”). The Company’s Management’s … Read more
Bloomberg Private credit managers are doing significantly more fossil-fuel deals now than just a few years ago, as they step into a void left by banks exiting assets they worry pose too big a climate risk. The value of private credit deals in the oil and gas industry topped $9 billion in the 24 months through 2023, … Read more
With OFS companies facing increasing skills shortages in a tight labor market, the need for effective training and development programs has never been more critical. And with the exposure to a variety of increasingly complex equipment, companies in the oil and gas industry face growing challenges ensuring the safety of their frontline workforce. Frontline operator … Read more
No More Paper Forms! Our NEWEST digital run sheet makes it easier than ever to go digital. Record any activity in Muddy Boots – we’ve got you covered with customizable forms to fit your business. Loading your run daily run sheet is simple. Log in to Muddy Boots while online, download your run sheet(s), and … Read more
CALGARY — After more than four years of construction and at least $34 billion in costs, the Trans Mountain pipeline expansion project is nearly complete. Here’s a look at what milestones to expect in the coming weeks as the massive pipeline gets ready…
CALGARY – Parkland Corp. is looking to sell 157 convenience store and fuel station locations across six provinces. The company says the assets up for sale include locations under the Chevron, Ultramar, Pioneer and FasGas brands as well as the On the Run convenience store banner. The bulk of the stations are in Quebec and Ontario, … Read more
On April 1, the Trudeau government will raise the federal carbon tax from $65 to $80 per tonne of greenhouse gas emissions. Opposition is widespread. Seven provincial premiers want the government to scrap the hike, and the federal Conservatives tabled a motion (unsuccessfully) in Parliament to topple the government over the hike. In response, Prime … Read more
‘It is an opportunity for us to create a better quality of life for our children and grandchildren’ By Will Gibson Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Momentum continues building for Indigenous-led Canadian liquefied natural gas (LNG), with a second project securing a pipeline connection. The … Read more
U.S. oil refiner Phillips 66 is exploring a sale of its 25% stake in the Rockies Express Pipeline that it hopes could be worth more than $1 billion, including debt, people familiar with the matter said on Tuesday. The Rockies Express Pipeline (REX) is a 1,700-mile interstate natural gas pipeline, stretching from Wyoming and Colorado … Read more
CALGARY — Pipeline giant Enbridge Inc. has signed a deal to form a joint venture to help connect Permian Basin natural gas to liquefied natural gas export terminals on the U.S. Gulf Coast.
The Calgary-based company said Tuesday it will partner with gl…
Goldman Sachs held onto its view to go long on commodities in 2024 which have given a 9% return year to date, which is further expected to rise to 15% by year-end, on cyclical and structural support to demand, and geopolitical risks. The bank forecast a return of 20% in select sectors such as energy … Read more
CALGARY, AB, March 26, 2024 /CNW/ – Enbridge Inc. (“Enbridge”) (TSX: ENB) (NYSE: ENB) announced today that it has entered into a definitive agreement with WhiteWater/I Squared Capital (“WhiteWater/I Squared”) and MPLX LP (“MPLX”) to form a joint-venture that will develop, construct, own, and operate natural gas pipeline and storage assets connecting Permian Basin natural gas supply to growing … Read more
Summary Iraq-Turkey pipeline shut since March 2023 Baghdad: around 225,000 bpd being produced without its oversight APIKUR says terms of current contracts must be maintained US encourages restart, State Dept. spokesperson says (Reuters) – Foreign oil firms operating in Iraq’s Kurdistan region are partly to blame for the delay in resuming crude exports after failing … Read more
By John Kemp LONDON, March 25 (Reuters) – Investors have purchased oil at the fastest rate for more than four years, amid optimism that Saudi Arabia and its OPEC+ allies will continue to restrict production while an improving economic outlook boosts consumption. Ukraine’s drone attacks on oil refineries and export terminals in Russia, which threaten to … Read more
(Reuters) – Oil was little changed on Tuesday after rising in the previous session as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar offered some support. Brent crude futures for May slipped 12 cents to $86.63 a barrel, while U.S. … Read more
CALGARY, AB , March 25, 2024 /CNW/ – (TSX: PMT) – Perpetual Energy Inc. (“Perpetual”, or the “Company”) is pleased to report its fourth quarter and year-end 2023 financial and operating results, Q1 2024 outlook and a summary of the Company’s year-end 2023 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. (“McDaniel”). A complete copy of Perpetual’s … Read more
FREDERICTON, New Brunswick, March 26, 2024 (GLOBE NEWSWIRE) — Nu:ionic Technologies (Canada), Inc. (“Nu:ionic”) has achieved a significant product development milestone with the completion of a continuous 48-hour demonstration run of its proprietary Microwave Catalytic Reformer(TM) (MCR). This commercial scale, 100kW electrified reactor can be used in many applications for low carbon hydrogen production from various … Read more
By Philip Cross This essay quantifies the important role natural resources play in British Columbia’s economy. It looks at their impact on both Gross Domestic Product (GDP) and employment. In addition, it examines the connection between natural resources and other industries via the purchase of inputs, and also the effects of primary industry wages with … Read more
(Reuters) – Russia’s government has ordered companies to reduce oil output in the second quarter to ensure they meet a production target of 9 million barrels per day (bpd) by the end of June in line with its pledges to OPEC+, three industry sources said on Monday. Earlier this month, Russian Deputy Prime Minister Alexander Novak said … Read more
OTTAWA, ON: The Canadian Taxpayers Federation released estimates showing how much it could cost to delay the next election by a week and trigger the pension eligibility for members of Parliament elected in 2019. “This looks like the government is pushing back the election so more MPs can take a very lucrative, taxpayer-funded pension,” said Franco Terrazzano, CTF … Read more
CALGARY, Alberta, March 25, 2024 (GLOBE NEWSWIRE) — Condor Energies Inc. (“Condor” or the “Company”) (TSX:CDR), a Canadian based, internationally focused energy transition company with activities in the Republics of Uzbekistan, Türkiye and Kazakhstan is pleased to announce the release of its audited consolidated financial statements for the years ended December 31, 2023 and 2022, … Read more
(Reuters) – Oil prices rose in Asian trading on Monday on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure. Brent crude futures climbed 39 cents, or 0.5%, to $85.82 a barrel at 0759 … Read more
U.S. energy firms this week cut the number of natural gas rigs operating to the lowest level since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to … Read more
In the rapidly evolving world of chemical processing, staying ahead of the curve on the latest technologies and methodologies is key to achieving operational excellence. To support this mission, we’re excited to highlight an upcoming webinar that delves into the transformative role of refractive index measurements in optimizing chemical processes. This educational online event, hosted … Read more
CEO says company will have to cut costs to make EVs affordable for the middle class The Associated Press DETROIT — Jeep maker Stellantis NV is laying off about 400 white-collar workers in the United States as it deals with the transition from combustion engines to electric vehicles. EV price gap needs closing to spur demand The company … Read more
What’s spring break-up, and why should you care? If you’re experienced in oil and gas, you’re all too familiar with the spring break-up blues! But newbies to the industry might wonder about this term that colleagues are throwing around. Spring break-up refers to the slowdown of the oil industry during the thaw cycle, which occurs … Read more
On April 1st, Justin Trudeau and Jagmeet Singh are hiking taxes to make you pay more. Trudeau and his NDP partner are planning a 23% carbon tax hike on April 1st, on their path to quadruple it on heat, gas and groceries. Plus, this Liberal-NDP costly coalition will be imposing tax hikes on beer, wine … Read more
‘We want to make sure we reduce emissions while keeping in mind affordability and reliability’ By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Ontario radio operators KT and Craig Timmermans power their off-grid business with propane and solar. Photo supplied to the Canadian Energy Centre Four … Read more
Drilling and testing for natural hydrogen buried underground has begun in Ontario, and there are plans to expand the search to British Columbia. By Resource Works More News and Views From Resource Works Here Hydrogen has long been hailed as the answer to fossil-fuel pollution, since hydrogen, when burned, produces only water and warm air. … Read more
By Julio Mejía and Elmira Aliakbari According to the latest calculations, the Trans Mountain pipeline expansion project, which the Trudeau government purchased from Kinder Morgan in 2018, will cost $3.1 billion more than the $30.9 billion projected last May, bringing the total cost to about $34 billion—more than six times the original estimate. This is yet another … Read more
By Kenneth P. Green Despite calls from seven of Canada’s premiers (including one premier from his own party) to scrap the upcoming carbon tax hike, and the threat of a non-confidence vote by the Opposition in Parliament, Prime Minister Trudeau has doubled down as he tries to convince Canadians that somehow this tax, which is … Read more
The outlook was robust at CERAWeek, and that may have profound implications for the energy transition. If you’re looking for a word to sum up this year’s CERAWeek by S&P Global, try this one: demand. Whether they were discussing oil, gas, power or renewables, speakers at the giant Houston talkfest were optimistic about consumption. Any … Read more
CALGARY, AB, March 22, 2024 /CNW/ – (TSX: PMT) – Perpetual Energy Inc. (“Perpetual”, or the “Company”) is pleased to announce the resolution of the previously announced Sequoia litigation, repayment of its existing $2.7 million second lien term loan, (the “Term Loan”) and the early redemption of its secured third lien senior notes, with the opportunity for noteholders to elect to continue … Read more
Summary US says talks in Qatar could reach Gaza ceasefire agreement Russia attacks Ukrainian energy infrastructure overnight Speculators raise U.S. crude oil net longs-CFTC US oil rig counts falls by one to 509 this week, Baker Hughes says (Reuters) – Oil prices slipped on Friday and were flat on the week as the possibility of … Read more
Government sees policy as crucial to meeting 2030 target Conservative Poilievre pledges to ‘axe the tax’ if elected Prime Minister Justin Trudeau’s signature environmental policy – an escalating tax on pollution – is increasingly under attack, as higher living costs erode public support for a measure the government sees as essential to curbing Canada’s emissions. The … Read more
‘I think that we’re really privileged to be in the heart of oil and gas town here in Calgary… We’re seeing innovations and ideas that are brilliant’ By Cody Ciona Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Jana McDonald the CEO and founder of Guardyan Conservation. In Calgary … Read more
CALGARY — A consortium of Canada’s largest oilsands companies said it aims to submit an application before the end of the week for approval of its proposed $16.5-billion carbon capture pipeline project.
Pathways Alliance spokeswoman Jerrica Goodwin co…
By Irina Slav More From Irina Slav “Any source of energy is intermittent, but renewables are perhaps the least intermittent, since they use the sun and wind. The crucial missing piece of renewables is the lack of infrastructure.” This profound revelation comes from the head of the International Renewable Energy Agency, Francesco La Camera, and should be … Read more
Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 36 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
Energy executives say they are looking past current ultra-cheap gas prices and betting on a coming wave of new liquefied natural gas (LNG) plants to lift demand – and prices – for the fuel. Natural gas prices have fallen by one-third this year, undercut by a warmer winter, outages at LNG facilities and higher-than-expected output. … Read more
Global oil consumption is outpacing expectations this year Oil executives gathered in Houston confident on demand outlook The world is using more oil than ever and demand is outpacing expectations again this year, raising questions about how soon global consumption will peak. The unabated thirst for crude contributed to an increasingly confident tone from executives … Read more
Summary US says talks in Qatar could reach Gaza ceasefire agreement Russia attacks Ukrainian energy infrastructure overnight US gasoline product supplied slips below 9 mln bbls-EIA (Reuters) – Oil prices were little changed on Friday, with global benchmark Brent hovering above $85 per barrel, as the possibility of a ceasefire in Gaza gained traction. Brent … Read more
EDMONTON — Gas prices are set to rise in Alberta next month, with the provincial government fully reinstating its fuel tax following a drop in oil prices.
Finance Minister Nate Horner says the fuel tax for gas and diesel will be 13 cents per litre sta…
In the demanding world of mining, the efficiency of operations is closely tied to the maintenance and repair of heavy-duty trucks. These giants of the industry are indispensable, transporting massive loads that are the lifeblood of mining activities. However, the lifting of these vehicles for maintenance poses significant challenges, often surpassing the capabilities of conventional … Read more
U.S. energy pipeline and storage operators have spent two years watching the consolidation of oil and gas producers, and now they are gearing up for the merger wave to hit their sector, executives, investors, and analysts said. The midstream sector has a lot of specialized midsize firms and only a handful of very large operators … Read more
Executives gathered at CERAWeek say the technology has potential to become a huge source of demand, as well as reshape production. The energy industry, which has prided itself on innovation since the days of kerosene lamps, has a flashy new technology to be bullish about: artificial intelligence. During on-stage discussions and one-on-one interviews, energy executives from … Read more
Two U.S. senators introduced legislation on Thursday to harden the ban on selling crude oil from the Strategic Petroleum Reserve (SPR) to China. The bill, introduced by Senators Joni Ernst, a Republican and John Fetterman, a Democrat, would ensure that companies owned or controlled by China’s government do not buy oil from the SPR. A … Read more
If the U.S. pulls back from permitting new liquefied natural gas (LNG) export plants, demand for the fuel will still be met from projects in Qatar, Argentina and Africa, the CEO of Baker Hughes, the world’s largest provider of equipment for the LNG sector, said on Thursday. The Biden administration in January paused new export … Read more
By John Kemp LONDON, March 21 (Reuters) – Global petroleum inventories are only slightly below the long-term seasonal average but futures prices have already moved into a steep backwardation as traders anticipate they will deplete further over the rest of 2024. OECD commercial inventories of crude oil and refined products are estimated to have been around … Read more
Last segment goes through hard rock in rugged B.C. terrain Bloomberg News The startup date for Canada’s mega oil pipeline should be known within weeks as Trans Mountain Corp. drills through hard rock in British Columbia’s rugged Fraser Valley for the final stretch of the 1,150-kilometre conduit. “The next few weeks will be very important in terms … Read more
March 21, 2024 5:41 PM EDT | Source: Blacksteel Energy Inc. Calgary, Alberta–(Newsfile Corp. – March 21, 2024) – Blacksteel Energy Inc. (“Blacksteel” or the “Corporation“) announces that Mr. Duncan Nightingale has resigned as President, Chief Executive Officer, and Director of the Corporation for personal reasons. Blacksteel is pleased to announce that Arthur Madden, the Corporation’s … Read more
March 21, 2024 CALGARY, AB, March 21, 2024 /CNW/ – Lucero Energy Corp. (“Lucero” or the “Company”) (TSXV: LOU) (OTCQB: PSHIF) is pleased to announce financial and operating results for the three months and year ended December 31, 2023, and to provide 2023 year-end reserves information. The associated Management’s Discussion and Analysis (“MD&A”) and audited financial statements as at and for the … Read more
Calgary Women in Energy (CWiE) is looking to expand into Edmonton and surrounding areas. As the energy capital of Canada, we acknowledge the immense talent and potential of women in this industry, aspiring to create a supportive and empowering community for them in Edmonton. CWiE has been a driving force in promoting gender diversity and … Read more
Reuters) – Oil prices were broadly steady on Thursday, as a surprise U.S. crude stock drop and the U.S. Federal Reserve sticking to its outlook on rate cuts for the year offered support. Brent crude futures for May were down 3 cents to $85.92 a barrel by 0929 GMT. They fell by 1.6% on Wednesday. U.S. West … Read more
Texas passed two laws in 2021 that restrict government contracts with companies that take what state officials regard as punitive stances toward the fossil fuels and firearm industries. They’re among the many new laws pushed by Republicans in states across the US to oppose ESG investing and financing, which they’ve made into a culture war … Read more
Producers are on the offensive at CERAWeek, but trade group head says they could have been better prepared. Bloomberg News There’s been plenty of discussion at CERAWeek about the Biden administration’s pause on new liquefied natural gas terminals. On stage and in interviews, fossil-fuel industry leaders are united in their opposition to the move. That’s hardly … Read more
CALGARY, AB, March 20, 2024 /PRNewswire/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) announced today that it intends to change its name to Veren Inc. (“Veren”) and will seek shareholder approval for the change at its upcoming Annual and Special Meeting of Shareholders (“AGM”) on May 10, 2024. “Our … Read more
Calgary, Alberta–(Newsfile Corp. – March 20, 2024) – Trican Well Service Ltd. (TSX: TCW) (“Trican” or the “Company“) announced today an update to its press release entitled “Trican Reports Annual Results for 2023, Declares Quarterly Dividend and Announces 12.5% Dividend Increase” which was issued on February 21, 2024 (the “Initial Press Release“). The Initial Press Release stated … Read more
Calgary, Alberta–(Newsfile Corp. – March 20, 2024) – Greenfire Resources Ltd. (NYSE: GFR) (TSX: 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 its operating and financial results for the quarter and year ended … Read more
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES CALGARY, Alberta, March 20, 2024 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) announces the release of its fourth quarter and full year 2023 financial and operating results and year-end reserves. Pieridae generated Net Operating Income (“NOI”)1 of $131 … Read more
First shipment should load in May to June Bloomberg News China’s Sinochem Group has purchased one of the first crude cargoes shipped through a new pipeline in Canada, which is designed to move oil from landlocked Alberta to the Pacific Coast for export. Sinochem bought a 550,000-barrel cargo from Suncor Energy Inc., which will load from … Read more
‘Agriculture requires fuel, and it requires lubricants. It requires heat and electricity. Modern agriculture can’t be done without energy’ By Mario Toneguzzi Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter General view of the ‘TD Canadian 4-H Dairy Classic Showmanship’ within the 101st edition of Royal Agricultural Winter Fair … Read more
New name for Alberta-focused energy producer will be Veren CEO Bryksa touts company’s decades of drilling inventory Canadian oil driller Crescent Point Energy Corp. — which has overhauled its operations over the past five years — is changing its name to reflect its new identity. The new moniker of Veren, a blending of the Latin word for … Read more
CALGARY, AB / ACCESSWIRE / March 20, 2024 / Avila Energy Corporation (“Avila” or the “Company” or “Avila Energy“), trading symbol trading symbol, (CSE:VIK)(OTCM:PTRVF)(FRA:6HG0), is pleased to announce an expected increase in its 3rd Party Processing Volumes and an Operational Update. On November 14, 2023, Avila Energy reported that the Company, as part of its long-term plans, … Read more
CALGARY, AB, March 20, 2024 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces unaudited operational and financial highlights for fiscal 2023 and the fourth quarter of 2023 (“Q4 2023”). Annual royalty production and revenue were the highest results in Source Rock’s 11-year … Read more
(Reuters) – The head of the world’s largest energy company on Monday urged for a “re-set” of plans to quickly replace fossil fuels with renewable energies, calling current energy transition timetables a fantasy. Saudi Aramco CEO Amin Nasser in remarks at a Houston energy conference called for recognition that demand for oil and gas is … Read more
OTTAWA, ON: The Canadian Taxpayers Federation is calling on members of Parliament to vote in favour of today’s motion to cancel the April 1 carbon tax increase. “MPs must prove they are sticking up for their constituents by voting today to cancel the carbon tax hike,” said Franco Terrazzano, CTF Federal Director. “Canadians overwhelmingly oppose … Read more
WINNIPEG — Manitoba Premier Wab Kinew said Tuesday he is considering extending his government’s fuel-tax holiday, which is set to expire at the end of June.
The NDP government fulfilled a campaign promise when it suspended, for six months, the 14-cent…
Summary Crude falls from multi-month highs Investors await U.S. Federal Reserve interest rate announcement U.S. crude, gasoline stocks fell last week – API LONDON, March 20 (Reuters) – Oil prices edged lower on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later … Read more
The Canada Energy Regulator said Tuesday it ordered Trans Mountain Expansion Pipeline (TMX) to stop work on a part of its expansion project after an inspection found contractors working without authorizations near an active nesting site of a red-tailed hawk. Trans Mountain will be able to resume reclamation and clean-up activities on spread 6 of … Read more
Ontario and Quebec have major plans for mineral extraction, but First Nations there say they are not being properly consulted and are taking the provincial governments to court. By Resource Works More News and Views From Resource Works Here The Quebec government’s Northern Action Plan/Plan Nord promises that a total of $2.6 billion will be invested … Read more
You can strike another blow against Prime Minister Justin Trudeau’s carbon tax. The federal Conservatives are forcing votes in the House of Commons this week to stop Trudeau’s April 1 carbon tax hike. For those votes to be successful, you’ll need MPs from other parties, like the New Democrats, to vote to stop the carbon … Read more
Line fill of Canada’s Trans Mountain crude oil pipeline expansion will be complete by the end of May, with the first waterborne exports from the expanded system starting a month later, Alberta Premier Danielle Smith said on Tuesday in an interview, Her comments on the sidelines of the CERAWeek energy conference in Houston are in … Read more
(All financial figures are in Canadian dollars unless otherwise noted) CALGARY, AB, March 19, 2024 /CNW/ – SECURE Energy Services Inc. (“SECURE”) (TSX: SES), announced today that it has entered into an underwriting agreement to sell, pursuant to a private placement (the “Offering”), $300 million aggregate principal amount of 6.75% senior unsecured notes due March 22, 2029 (the “Notes”). The Offering … Read more
Calgary, Alberta–(Newsfile Corp. – March 19, 2024) – Gear Energy Ltd. (TSX: GXE) (OTCQX: GENGF) (“Gear” or the “Company”) is pleased to announce that the new February 2024 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 … Read more
LETHBRIDGE, AB: The Canadian Taxpayers Federation is urging the Alberta government to scrap its fuel tax hike planned for April 1. “The Trudeau government is already slapping us with a carbon tax hike and the last thing Albertans need is to be punched by their own provincial government,” said Kris Sims, CTF Alberta Director. “You can’t … Read more
Executive says freeze on US licenses should end after election Ryan Lance criticizes policy for driving down activity The Biden administration’s pause on liquefied natural gas export licenses needs to end after November’s presidential election, said Ryan Lance, chief executive of ConocoPhillips, the Houston-based oil and gas producer with a growing LNG business. “Customers are … Read more
(Reuters) – Oil prices were largely steady on Tuesday near four-month highs after breaking above range-bound trading last week, but the prospect of rising exports from Russia weighed amid Ukrainian attacks on refineries. The Brent crude oil futures contract for May delivery was down 12 cents to $86.77 a barrel at 1201 GMT, while U.S. … Read more
Top oil executives took to the stage of a major energy conference on Monday to vocally oppose calls for a quick move away from fossil fuels, saying society would pay a steep cost to replace oil and gas. Big oil companies including BP and Equinor have written down renewable energy projects and others have been forced to … Read more
CALGARY, AB, March 18, 2024 /CNW/ – Logan Energy Corp. (“Logan” or the “Company“) announces its financial and operating results for the period ended December 31, 2023, and the results of the 2023 year end reserves evaluation and provides an operations update and details of the Company’s upsized revolving credit facility. Selected financial and operational information set out below highlights … Read more
Ministers to make an announcement for H2Global on Monday Clean gas is seen as key to the transition from dirtier fuels Canada is set to join a German- and Dutch-backed effort to kickstart the trade of hydrogen, which is seen as a clean-energy alternative to dirtier fossil fuels. The North American nation will provide funding … Read more
CALGARY, Alberta–(BUSINESS WIRE)–Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) is pleased to announce that it has received a “no-action letter” from the Canadian Competition Bureau confirming that the Commissioner of Competition does not intend to challenge the proposed acquisition by Pembina of Enbridge’s interest in the Alliance, Aux Sable, and NRGreen joint ventures (the “Transaction”). … Read more
In an era where operational efficiency and safety are paramount in the Oil & Gas industry, maintaining optimal boiler water levels is more critical than ever. Westech Industrial is proud to spotlight an upcoming webinar by our partner, Clark Reliance, that promises to change the way industry professionals think about boiler drum level indication: “Is … Read more
Global oil demand will not peak for some time so policy makers need to ensure sufficient investment in oil and gas to meet consumption and abandon the fantasy of phasing out the fossil fuels, Saudi Aramco CEO Amin Nasser said on Monday. The head of the world’s largest energy company urged a re-set of global energy … Read more
According to a 2023 KPMG poll, of the 69 per cent of Canadians who expected to buy a new car in the next 10 years, only 28 per cent said they prefer an EV or plug-in electric hybrid while 42 per cent favoured gasoline-powered internal combustion engine vehicles and 30 per cent preferred hybrid gasoline/electric vehicles. … Read more
Drought in the western Canadian province of Alberta is stretching into its fourth year and farmers and oil companies are planning for water restrictions that threaten production of wheat, beef and crude. The severe conditions have prompted Alberta to open water-sharing negotiations among licence-holders for the first time in two decades, hoping to salvage output … Read more
WINNIPEG — The Manitoba government and Winnipeg City Hall expressed optimism Monday that there won’t be fuel shortages, despite the temporary closure of a pipeline that carries gasoline, diesel and jet fuel to the capital city and the surrounding area…
Europe and the U.S. will have to spend in excess of $1 trillion for building infrastructure to enable widespread use of hydrogen fuel, an executive at Mitsubishi Heavy Industries said on Monday. A wholesale move to hydrogen will need significant new demand, which could only come with investments in infrastructure to reduce the cost. European … Read more
Calgary Women in Energy is excited to announce our 2024 Allies in Energy Executive Forum. Since 2020 we have brought Executives together to discuss thought provoking topics and this year is no different. A highly esteemed panel of local energy Executives will meet on April 10th to discuss conflict and change management. Purchase your ticket … Read more
Exxon Mobil CEO Darren Woods on Monday said his company is trying to secure preemption rights over Hess Corp’s Guyana assets in its dispute with Chevron, not buy the company itself. In his first public remarks on the company’s pursuit of an arbitration case that could block Chevron’s $53 billion deal for Hess, Woods said Exxon … Read more
Adnoc to supply SEFE with 1 million tons of LNG per year Supply from Adnoc’s planned Ruwais LNG plant to start in 2028 The United Arab Emirates agreed to sell liquefied natural gas to Germany for 15 years starting 2028, in a deal that further cements Europe’s fossil fuel use and underpins the Middle Eastern country’s plan … Read more
Summary Ukraine attacks more Russian energy infrastructure over weekend Both benchmarks end last week higher Eyes on monetary policy in major economies this week (Reuters) – Oil benchmark Brent hovered just under the $86 a barrel mark on Monday, extending last week’s gains, as Ukraine increased its attacks on Russian energy infrastructure. Brent crude oil … Read more
With turbines approaching the size of the Chrysler Building, there’s a looming shortage of ships large enough to install them On the outskirts of Rotterdam, a bright orange ship is hoisted above the muddy Rhine with the help of six chunky triangular legs. The vessel has just been retrofit with a huge crane capable of … Read more
Whitestar Brings New GIS Data & Mapping Technology Capabilities to Pandell Land Suite Today we’re excited to announce the acquisition of Whitestar, by Pandell parent company, ESG. Whitestar is the leading provider of infrastructure planning data and software products for energy providers in North America. The acquisition will add one-of-a-kind project evaluation and other capabilities … Read more
WINNIPEG — The Manitoba government says it’s taking measures to mitigate potential impact to the province’s economy after Imperial Oil Ltd. announced it has temporarily shut down a pipeline that supplies gasoline, diesel and jet fuel to Winnipeg and t…
By Kenneth P. Green Canada is, we are told, in a climate crisis. “Climate action can’t wait,” said Prime Minister Trudeau. “Together, we will beat this crisis while creating a green economy and new middle-class jobs for Canadians.” In a Guardian article, federal Environment Minister Steven Guilbeault said “the science is clear” that the “climate crisis is … Read more
By Justin Bekker, PEng, Stress Engineering Services Canada A strain gauge is a highly sensitive sensor that measures minute changes in an object’s physical deformation. Imagine a thin, metallic sticker bonded to an object. As the object bends or stretches, this sticker stretches too, causing its electrical resistance to change. This change, often quantified through … Read more
Calscan Solutions introduces the Bear Dump Valve solving reliability issues associated with legacy linear and ball valves on wellsite separators The Field Proven Bear Dump Valve is: A solution for valve/trim erosion with its Twin Disk Trim Technology Easy and inexpensive to service Solar Ready for your Brown or Greenfield Zero Emission Separator Quick acting, reliable and easy … Read more
U.S. energy firms this week added the biggest number of oil and natural gas rigs in a week since September, with the oil rig count also rising to its highest in six months, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator … Read more
HOUSTON, (Reuters) – Top oil executives and ministers descend on Houston this week for one of the world’s biggest energy conferences emboldened by blockbuster mergers, stable oil prices and less pressure for a large-scale move to clean fuels. Global oil prices have remained in a range between $75 and $85 per barrel, a level fueling … Read more
Companies use AI to run drill rigs and predict broken pumps Technology could slash costs and squeeze more oil from wells From a dark Houston control room, Rafael Guedes watched on a monitor as a robot took charge of a drilling rig in a North Dakota oil field, locking out the human operator. Glowing red … Read more
About 150 kilometres south of Fort McMurray, the Conklin region is responsible for nearly 1/3 of oil sands production By Mario Toneguzzi Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter L-R (seated): Great Northern Bridgeworks president Steve Ross, Enviromulch Mulching & Logging superintendent Phil Mamers, Lynco Energy Services owner … Read more
Meeting demand and transitioning to clean energy amid geopolitical tensions will dominate conversations among industry heavyweights at CERAWeek in Houston next week. More than 7,000 people are headed to Houston this week to attend CERAWeek by S&P Global with a key question in mind: How to meet increasing demand for power amid the transition to … Read more
New Disclosure Requirements for Canadian Energy Companies – Explained Expanding disclosure requirements are on the horizon and companies are eager to learn about their new obligations. GLJ’s team of sustainability experts have been following the developments closely and will be hosting a free webinar to discuss the new disclosure requirements for Canadian energy companies on March 21st, 2024, from … Read more
By Canada Powered by Women Often times when we talk to women about energy and its role in creating energy security in Canada, we find ourselves talking to two distinct groups — one hears about the subject often, while the other rarely does. The frequency of discussion around this subject is typically based on where … Read more
Premier Danielle Smith speaks with reporters at the Alberta legislature in Edmonton about her morning meeting with Prime Minister Justin Trudeau in Calgary. She says that she reiterated the growing opposition to the federal carbon price, which is scheduled to increase on April 1.
Coastal GasLink (CGL) is a great news story, one that we should all remember for the positive benefits it has had on workers and communities along its route while finally allowing Canada to sell our natural gas to the world. Now mechanically complete, the transmission pipeline is set to transport natural gas from Northeastern British … Read more
Summary Traders torn between bullish demand, macro economic fears IEA report points to possible future gains in crude prices Prices topped $85/bbl on Thursday for first time since Nov HOUSTON, March 15 (Reuters) – Oil prices dipped on Friday, a day after topping $85 a barrel for the first time since November, but prices were … Read more
New requirements are still under review by White House Power plant pollution rule to be finalized next month US coal-fired power plants could be forced to shut down two years sooner than envisioned under a Biden administration plan to stifle pollution from the electricity sector. The potential change being seriously considered now by administration officials … Read more
At least two exporters have pushed back investment decisions Asian buyers are becoming reluctant to sign on to US plants The Biden administration’s pause on new licenses for liquefied natural gas exporters is already stalling progress for projects that were aiming to come online later this decade. Several LNG buyers have delayed signing new long-term … Read more
Calgary, Alberta–(Newsfile Corp. – March 14, 2024) – Cardinal Energy Ltd. (TSX: CJ) (“Cardinal” or the “Company”) is pleased to announce its operating and financial results for the fourth quarter and year ended December 31, 2023. HIGHLIGHTS FROM THE FOURTH QUARTER AND FULL YEAR OF 2023 Production for the fourth quarter and for the full year … Read more
March 14, 20245:58 PM CNW CALGARY, AB, March 14, 2024 /CNW/ – (TSX: RBY) – Rubellite Energy Inc. (“Rubellite”, or the “Company”), a pure play Clearwater oil exploration and development company, is pleased to report fourth quarter and full year 2023 financial and operating results, select information from the Company’s independent year-end 2023 reserve report, evaluated by McDaniel and Associates Consultants Ltd. … Read more
CALGARY, AB, March 15, 2024 /CNW/ – Further to the press release issued January 11, 2024 by 763997 Alberta Ltd. (formerly Target Capital Inc.) (“TCI“) (NEX: TCI.H) and Grafton Ventures Energy Holdings Corp. (“Grafton“), TCI and Grafton are pleased to announce that they, together with 2595456 Alberta Ltd. (“Subco“), a wholly-owned subsidiary of TCI, have entered into an amalgamation agreement dated March … Read more
(Reuters) – Near-term global oil and liquids production growth will be driven primarily by the U.S., Guyana, Canada, and Brazil, offsetting voluntary production cuts by OPEC+, the U.S. Energy Information Agency (EIA) forecast on Thursday. The boost to supply comes as the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, this month … Read more
A B.C. First Nation and a Houston-based firm are buying a ready-to-construct pipeline project that would supply a proposed floating LNG export terminal north of Prince Rupert.
The Nisga’a Nation — whose lands are located on the northwest coast of B.C….
Royalties help pay for public services like health care, hospitals, education and schools By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter LNG Canada CEO Jason Klein. Photo courtesy LNG Canada As Canada’s first LNG export terminal prepares for start-up, British Columbia is preparing for an influx … Read more
CALGARY — A group of oil shippers is asking the Canada Energy Regulator to compel the company behind the Trans Mountain pipeline expansion to provide them with a full and detailed breakdown of the project’s escalating construction costs.
The shippers …
Click here to download this edition of Energy Perspectives as a PDF. Interested in having Energy Perspectives delivered to your inbox? Contact [email protected] Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The agriculture sector plays a significant role in the global economy, contributing more than four per cent of … Read more
The U.S. export credit agency on Thursday voted to approve a $500 million loan guarantee for an oil and gas drilling project in Bahrain, testing a U.S. climate pledge to stop backing projects that expand the use of fossil fuels. The board of directors at the Export-Import Bank of the United States (EXIM) approved the … Read more
Transaction demonstrates TC Energy’s focus on its strategic priorities while facilitating the development of critical energy infrastructure CALGARY, Alberta, March 14, 2024 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) announced today that it has entered into a binding letter agreement with Nisga’a Nation and Western LNG (the Buyers) regarding … Read more
March 14, 2024 4:30 PM EDT | Source: Baytex Energy Corp. Calgary, Alberta–(Newsfile Corp. – March 14, 2024) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) is pleased to announce the pricing and upsize to US$575 million of its previously announced private placement offering (the “Offering”) of senior unsecured notes due 2032 (the “Notes”). The … Read more
Synopsis Indigenous communities face numerous challenges when navigating large infrastructure transactions with energy companies — including balancing different interests and a limited time availability to manage the process. Our extensive industry experience enables MNP to work closely with Indigenous communities and energy companies to help them both achieve their goals and create long-term mutually beneficial … Read more
CALGARY, AB, March 14, 2024 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation”) (TSX: TWM) has filed its consolidated financial statements and Management’s Discussion and Analysis (“MD&A”) for the period ended December 31, 2023. FOURTH-QUARTER AND YEAR-END 2023 HIGHLIGHTS On December 22, 2023, Tidewater closed the sale of its Pipestone natural gas plant (“Pipestone Phase I”), Pipestone expansion project (“Pipestone Phase II”, collectively … Read more
Calgary, Alberta–(Newsfile Corp. – March 14, 2024) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) announced today that it intends to offer US$500 million aggregate principal amount of senior unsecured notes due 2032 (the “Notes”) in a private placement offering (the “Offering”), subject to market and other conditions. The Notes will pay interest semi-annually … Read more
Prices appear to have found a floor above $80 a barrel, but breaking through $90 will be hard. Bloomberg Oil markets may be showing renewed signs of strength, but that doesn’t guarantee a rally is brewing. The latest sign of resilience arrived today, as the International Energy Agency raised demand forecasts once again and said markets face … Read more
Summary IEA raises 2024 oil demand forecast by 110,000 bpd Houthi attacks on shipping lead to longer routes Economic headwinds still seen putting damper on growth LONDON, March 14 (Reuters) – The International Energy Agency raised its view for oil demand growth by 110,000 barrels per day (bpd) from its previous month’s forecast as Houthi … Read more
Oil prices extended gains on Thursday, as investors digested the International Energy Agency’s (IEA) latest oil market report, in which it made an upward revision to demand growth forecasts and cut its projection for non-OPEC supply in 2024. Brent crude futures for May rose 72 cents, or 0.86%, to $84.75 a barrel by 1021 GMT. … Read more
As part of this campaign, Enserva is introducing its workingenergy.ca portal, a unique job site used to connect employers to those looking for roles in the energy services sector CALGARY, Alberta, March 13, 2024 (GLOBE NEWSWIRE) — Enserva, formerly Petroleum Services Association of Canada, has officially launched its THINK Energy campaign, a national awareness strategy to … Read more
Shell Publishes Energy Transition Strategy 2024 Shell will continue its drive to halve emissions from its operations (Scope 1 and 2) by 2030, compared with 2016 on a net basis. By the end of 2023, Shell had achieved more than 60% of this target. Shell also reduced the net carbon intensity of the energy products … Read more
CALGARY, Alberta, March 14, 2024 (GLOBE NEWSWIRE) — Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) announces its financial and operating results for the three months and year ended December 31, 2023. The following press release should be read in conjunction with the management’s discussion and analysis and audited consolidated financial statements and notes thereto as … Read more
CALGARY, Alberta, March 14, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (“Prospera” or the “Company”) (TSX.V: PEI, OTC: GXRFF, FRA: OF6B, OF6B.SG, OF6B.F, OF6B.BE). Prospera Energy Inc. (“PEI”) is pleased to announce a 508% increase to its proven developed producing reserve value of 27MM$, reflecting the success of PEI’s 2023 development program. In addition, the company’s proven plus probable … Read more
Bawa is the new chair of the Ottawa-based Young Energy Professionals Network By Will Gibson Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Harshivam Bawa is chair of the Ottawa-based Young Energy Professionals Network. Photo supplied to the Canadian Energy Centre Harshivam Bawa learned about the importance of reliable, … Read more
CALGARY — Prime Minister Justin Trudeau pushed back Wednesday on growing demands from premiers to dump the planned April 1 hike to the consumer carbon levy, saying leaders must tackle both affordability and climate change.
“My job is not to be popular…
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 37 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
CALGARY, Alberta, March 13, 2024 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce that it has filed its annual audited financial statements (the “financial statements”) and related management’s discussion and analysis and its annual information form (the “AIF”) for the financial year ended December 31, 2023 (collectively, the … Read more
CALGARY – Alberta Premier Danielle Smith is urging Prime Minister Justin Trudeau to heed the growing calls from premiers to dump the planned hike to the consumer carbon charge on April 1. Trudeau responded by reminding Canadians that as the levy increases, so do rebates to Canadians. The comments came in introductory remarks as the … Read more
CALGARY — Energy giant Enbridge Inc. is urging shareholders at its upcoming annual meeting to vote against a proposal calling on the company to do more to disclose the climate impact of its pipeline business.
The shareholder proposal filed by Investor…
THIS IS THE CAMPAIGN’S LARGEST CORPORATE GIFT AND WILL SUPPORT CLINICAL TRIALS AND INNOVATIONS IN RADIATION ONCOLOGY Source: Alberta Cancer Foundation CALGARY, Alberta, March 12, 2024 (GLOBE NEWSWIRE) — The Alberta Cancer Foundation, along with Alberta Health Services (AHS) and the University of Calgary (UCalgary), are thrilled to announce that ARC Resources Ltd. (ARC) has generously donated $5 … Read more
Calgary, Alberta–(Newsfile Corp. – March 12, 2024) – Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (“Journey” or the “Company“) is pleased to announce its financial and operating results for the three and twelve month periods ending December 31, 2023. The complete set of financial statements and management discussion and analysis for the periods ended December 31, … Read more
CALGARY AB, March 13, 2024 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) announces its financial and operating results for the three and twelve months ended December 31, 2023, and the results of its independent oil and gas reserves evaluation effective December 31, 2023 (the “Reserve Report”) prepared by Sproule Associates Limited (“Sproule”). InPlay’s audited annual financial … Read more
CALGARY, AB, March 11, 2024 /CNW/ – Strathcona Resources Ltd. (“Strathcona”) (TSX: SCR) today reported its year end 2023 reserves. Strathcona has posted a shareholder letter on its website which provides additional detail on its 2023 reserves. The tables below summarize Strathcona’s year end 2023 reserves which were prepared by McDaniel & Associates Consultants Ltd. (“McDaniel”) and Sproule Associates Limited (“Sproule”). … Read more
The differential of Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed slightly on Tuesday. * WCS for April delivery in Hardisty, Alberta began and ended the trading session at $15.10 per barrel under WTI, according to brokerage CalRock. On Monday, WCS had traded between $15.15 and $15.30 … Read more
(Reuters) – Methane emissions from the energy sector remained near a record high in 2023 despite a raft of commitments from the oil and gas industry to plug leaking infrastructure, a report by the International Energy Agency said on Wednesday. However, the agency said it was optimistic new satellites could help improve monitoring and transparency around leaks … Read more
Summary API data shows drop in U.S. oil and fuel stocks, sources say Russian refineries attacked by Ukraine; Rosneft plant damaged OPEC remains upbeat on oil demand growth U.S. rate cut hopes have not been derailed by inflation data (Reuters) – Oil rose on Wednesday, supported by potential supply disruption after Ukrainian attacks on Russian … Read more
(Reuters) – Oil producer group OPEC said on Wednesday it was encouraged by a commentary from the International Energy Agency (IEA) which underscores the importance of oil security, while the two remain far apart on the demand outlook. “While the world’s dependence on oil is lessening, it remains deep-rooted, so supply disruptions can still cause … Read more
March 12, 2024 7:43 PM EDT | Source: Saturn Oil & Gas Inc. Calgary, Alberta–(Newsfile Corp. – March 12, 2024) – Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) (“Saturn” or the “Company“) is pleased to report its financial and operating results for the three and twelve months ended December 31, 2023. “2023 … Read more
We’d all like to abandon all the dried up wells. But it is expensive and time consuming. And many wells have been orphaned. And so they sit, often creating atmospheric chaos. But most of us don’t realize how easy and inexpensive it would be to securely suspend leaking rod wells to stop the flow of … Read more
Institutes two temporary measures around practice of ‘economic withholding’ The Canadian Press EDMONTON — Alberta‘s government says it is updating its electricity market rules in order to help lower consumers’ utility bills. The new measures are aimed at the practice of “economic withholding,” a strategy regularly used by power generators in Alberta’s unique-to-Canada free-market electricity system. Under Alberta’s … Read more
In Budget 2024, the Smith government committed to building up the Heritage fund so its annual earnings can replace resource revenue in the budget, and ultimately reduce Alberta’s reliance on this volatile source of revenue. That’s an important and worthy goal, but it will take commitment over the long term to get there. A simple … Read more
Sticks to 2024 oil demand growth forecast of 2.25 mbpd OPEC Feb output rises 203,000 bpd despite new OPEC+ cuts IEA to publish updated forecasts on Thursday OPEC, IEA at most divided on oil demand since at least 2008 LONDON, March 12 (Reuters) – OPEC on Tuesday stuck to its forecast for relatively strong growth … Read more
Brad Hayes examines the effectiveness and limitations of CCUS in curbing greenhouse gas emissions and questions its role, success rates, and implications for energy transition strategies. By Resource Works More News and Views From Resource Works Here Many people in high-income nations (and few in lower-income nations) are concerned about emissions of greenhouse gases (GHGs), … Read more
Reuters (Reuters) – Nord Stream is seeking more than 400 million euros ($436 million) from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show. Nord Stream AG names Lloyd’s Insurance Company and Arch Insurance (EU) DAC as defendants in its lawsuit, which was filed at London’s High … Read more
(TSX: AAV) CALGARY, AB, March 12, 2024 /CNW/ – Advantage Energy Ltd. (“Advantage” or the “Corporation”) is pleased to announce the appointment of John Festival to its Board of Directors (the “Board”), effective March 12, 2024. Mr. Festival has over 35 years of experience in the energy industry and has held multiple senior executive positions, including President & CEO of … Read more
Shell will publish an updated plan for emissions on Thursday CEO Sawan is focused on boosting returns for shareholders Shell initiated its plan to become a net-zero company in 2020 under previous CEO Ben van Beurden. Shell Plc has been considering slowing the pace of its carbon-emissions cuts as it updates its energy-transition strategy, according to … Read more
The U.S. Energy Information Administration (EIA) on Tuesday raised its forecast for U.S. domestic oil growth in 2024 by 90,000 barrels, but lowered its forecast for global oil production growth due to production cuts from OPEC+. U.S. crude oil production will rise by 260,000 barrels per day (bpd) to 13.19 million bpd this year, the … Read more
St. Albert, Alberta–(Newsfile Corp. – March 12, 2024) – Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the “Company” or “Enterprise“), a consolidator of services to the energy sector that is focused primarily on specialized equipment rental, announces that it has closed the offering of units (the “Units”) previously announced on February 26, 2024 (the “Offering”). A total of 8,234,350 … Read more
U.S. natural gas producers are curbing their output and spending on drilling activity as an oversupplied market has brought the prices of the commodity down to multi-decade lows. In recent months, gas prices have dropped on near-record output and low heating demand from a mild winter, leaving ample amounts of gas in storage. Below is … Read more
Vancouver, British Columbia–(Newsfile Corp. – March 12, 2024) – Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (“Hemisphere” or the “Company”) is pleased to announce highlights from its independent reserves evaluation (the “Reserve Report”), prepared by McDaniel & Associates Consultants Ltd. (“McDaniel”) and effective as at December 31, 2023. In 2023, Hemisphere invested $16 million to drill eight successful … Read more
Big metal tubes filled with flammable vapor aren’t an obvious element of the artificial intelligence vision. By Liam Denning Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column. The fervor for all things AI … Read more
Summary Ukraine drone strikes start fire at Lukoil’s NORSI refinery IEA expects oil demand to grow to record high China oil purchases continue recent downturn LONDON, March 12 (Reuters) – Oil prices rose in Tuesday trade as tensions in the Middle East continued to spur concern, but gains were capped by bearish demand sentiment ahead … Read more
Explaining why he decided to spend his Sunday afternoon at a Conservative rally against the carbon tax, Graham Humphries expressed a common sentiment among those in attendance. “Trudeau sucks, obviously.” Humphries, 32, was joined by his wife, Kelci Wolter, who was pushing their nearly 1-year-old son in a stroller. He said he actually voted for … Read more
With payments technology innovating at a rapid clip, are energy companies ready to overhaul their snail-like order to cash processes? By Geoffrey Cann TL;DR Payments technology has rapidly advanced, but energy has been slow to adopt The costs of a built-in 60-to-90 day settlement delay are increasingly dear Rethink settlement end to end and not … Read more
Highlights: Increased before-tax NPV10 for Proved (1P) reserves to U.S.$171 million representing NPV10 of C$1.49 per share. Increased before-tax NPV10 for Proved plus Probable (2P) reserves to U.S.$306 million representing NPV10 of C$2.67 per share. Increased before-tax NPV10 for Proved plus Probable plus Possible (3P) reserves to U.S.$577 million representing NPV10 of C$5.04 per share. At December 31, 2023, 1P net reserves life index of 7.9 years and a … Read more
CALGARY, Alberta–(BUSINESS WIRE)–STEP Energy Services Ltd. (the “Company” or “STEP”) is pleased to announce its financial and operating results for the three months and twelve months ended December 31, 2023. The following press release should be read in conjunction with the management’s discussion and analysis (“MD&A”) and audited consolidated financial statements and notes thereto as … Read more
CALGARY, AB, March 11, 2024 /CNW/ – Strathcona Resources Ltd. (“Strathcona”) (TSX: SCR) today reported its year end 2023 reserves. Strathcona has posted a shareholder letter on its website which provides additional detail on its 2023 reserves. The tables below summarize Strathcona’s year end 2023 reserves which were prepared by McDaniel & Associates Consultants Ltd. (“McDaniel”) and Sproule Associates Limited (“Sproule”). … Read more
Ontario Premier says that Trudeau Liberals risk being annihilated by voters if they don’t give up on the carbon tax hike. Author of the article: Brian Lilley – Toronto Sun Doug Ford is offering Justin Trudeau a bit of friendly advice: Cancel the carbon tax hike on April 1 or voters will punish you next … Read more
‘By being owners in these projects, we can meaningfully contribute to a cleaner and more just world’ By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Crystal Smith, chief councillor of the Haisla Nation, Karen Ogen, CEO of the First Nations LNG Alliance, and Eva Clayton, president … Read more
U.S. crude oil production lead global oil production for a sixth straight year, with a record breaking average production of 12.9 million barrels per day (bpd), the Energy Information Administration (EIA) said in a release on Monday. In December, U.S. crude oil production hit a new monthly record high of over 13.3 million bpd, the … Read more
CALGARY — After being hamstrung for years by a lack of export capacity, Canada’s oil industry will have reason to celebrate when the much-anticipated Trans Mountain pipeline expansion comes online, expected to be sometime this spring.
But the party ma…
(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
(Reuters) – Alberta’s ban on some renewable projects could hurt C$11.1 billion ($8.24 billion) in investments and stall up to 6.3 gigawatts (GW) of solar and wind power capacity, a study said on Monday. The new rules potentially affect 42 projects and several thousand jobs, the Pembina Institute, an Alberta-based clean energy think tank, said … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Monday. WCS for April delivery in Hardisty, Alberta, traded between $15.15 and $15.30 per barrel under WTI, according to brokerage CalRock. On Friday, WCS had begun trading at $15.75 and ended the day at $15.65 … Read more
The U.S. energy sector has entered a new phase of consolidation as the industry went on a $250-billion buying spree in 2023, and experts see more transactions on the horizon. Dealmaking is on the rise as oil and gas producers are looking to improve longevity of inventories at low cost, and focus on cash that … Read more
Summary Brent has hovered above $80 a barrel for just over a month Hopes for ceasefire in Gaza war have stalled Both benchmarks ended last week down on souring China expectations LONDON, March 11 (Reuters) – Global benchmark Brent held steady, hovering around $82 a barrel on Monday, as persistent geopolitical concerns in the Middle … Read more
(Reuters) – EQT Corp has decided to buy back its former unit Equitrans Midstream in an all-stock deal to create an integrated natural gas provider valued at more than $35 billion, the companies said on Monday. Shares of Equitrans jumped more than 8% in premarket trading, while EQT was down about 1%. Under the terms of … Read more
The Critical Role of Pressure Gauges in Industry Pressure gauges are indispensable in the industrial sector, serving as the eyes of process systems by accurately measuring and monitoring pressure levels. These instruments play a pivotal role in maintaining the safety of personnel, the efficiency of processes, and the quality of products. However, despite their importance, … Read more
Since 1927, the Canadian Energy Geoscience Association (CEGA), formerly known as the CSPG, has been a member-based association committed to fostering geoscientists’ professional development throughout their careers. A Legacy of Professional Growth: CEGA’s long-standing commitment to professional growth has adapted over the years to meet the evolving needs of the energy sector. The association stands … Read more
BURNABY, B.C. — The Parkland fuel refinery in Metro Vancouver is set to resume operations Sunday, seven weeks after an “unplanned issue” forced it to shut down.
A statement on Parkland’s website says crews will begin the process by turning on the main…
March 8 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, … Read more
(Reuters) – TC Energy temporarily shut down the Keystone oil pipeline on Thursday to investigate a South Dakota landowner’s report about a possible leak that proved unfounded, the Canadian company and a U.S. pipeline regulator said on Friday. TC told the Pipeline and Hazardous Materials Safety Administration (PHMSA) about the reported leak and conducted aerial observation … Read more
(Reuters) – Oil prices closed 1% lower on Friday and fell even more for the week as markets remained wary of soft Chinese demand even as producer group OPEC+ extended supply cuts. Brent crude futures settled down 88 cents, or 1.1%, at $82.08 a barrel. U.S. West Texas Intermediate crude futures (WTI) fell 92 cents, … Read more
A second Trump presidency likely means more tariffs, and Canada’s energy and forestry sectors will feel the impact. By Resource Works More News and Views From Resource Works Here As the passing of former Prime Minister Brian Mulroney was reported, we thought back to his ratification of the North American Free Trade Agreement (NAFTA) … Read more
Chevron CEO Michael Wirth is facing a head-to-head match with Exxon Mobil with his $53 billion bid for Hess and its stake in oil hotspot Guyana, and could wind up trapped in a dispute between two of South America’s biggest energy rivals. On Wednesday, Exxon filed an arbitration claim that could block Hess’ proposed merger with Chevron. … Read more
The Inuvialuit Energy Security Project is expected to provide sustainable energy for the next 50 years CALGARY, AB, March 7, 2024 /CNW/ – The Commission of the Canada Energy Regulator (CER) has approved the Inuvialuit Energy Security Project (IESP) Energy Centre with 20 conditions. The project will convert natural gas into compressed natural gas, propane, and synthetic diesel that can be … Read more
(Reuters) – Oil prices dipped on Friday as investors weighed hints of looming interest rate cuts in the United States and Europe against the likelihood of relatively high global supply this year. Brent crude futures were down 0.54%, or 45 cents, at $82.51 a barrel by 1305 GMT. U.S. West Texas Intermediate crude futures were … Read more
AltaGas Delivers on Full Year Guidance and Advances Key Strategic Priorities that will Drive Long-term Value Creation CALGARY, AB, March 8, 2024 /CNW/ – AltaGas Ltd. (“AltaGas” or the “Company”) (TSX: ALA) reports fourth quarter and full year 2023 financial results, reaffirms 2024 financial guidance, and provides an update on its operations and other corporate developments. HIGHLIGHTS (all financial figures are … Read more
CALGARY — Tourmaline Oil Corp. says it earned $700.2 million in the last quarter of 2023, up from a loss of $30.4 million a year earlier.
The Calgary-based company says revenues were $1.7 billion, down from $2.2 billion in the fourth quarter of 2022. …
More than 90 top Canadian business leaders have signed an open letter to the country’s finance minister and her provincial counterparts on Wednesday, urging the need to address the decline in domestic investments by pension funds. “We are concerned with the decline in Canadian investments by pension funds and its impact on the Canadian economy. … Read more
CALGARY — Suncor Energy Inc. says it has signed a memorandum of understanding with the Fort McKay First Nation on a prospective oilsands lease development opportunity on reserve lands.
The Calgary-based oilsands company says it is progressing early-st…
Calgary, Alberta–(Newsfile Corp. – March 8, 2024) – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) has released its financial and operating results for the fourth quarter and year ended December 31, 2023. The Company’s financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended December 31 Year ended December 31 (CA$ thousands, … Read more
By Greg Owen, Suzy Chen and Vicky Wang Today’s energy industry isn’t the one your parents knew. Not very long ago, players in the energy industry were grouped, at least in peoples’ minds, by their business lines. Some were oil companies, some were gas, some explorers, others, producers. Pipeline companies moved the products that others … Read more
‘The traditional energy system will not disappear in a day’ By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Outside NATO headquarters ahead of a flag-raising ceremony for Sweden’s accession to NATO, in Brussels on February 27, 2024. Getty Images photo Canada and the United States now … Read more
St. Albert, Alberta–(Newsfile Corp. – March 7, 2024) – Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the “Company” or “Enterprise”). Enterprise, a consolidator of energy services (including specialized equipment rental to the energy/resource sector), emphasizing technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for small to Tier One resource clients, is pleased to announce its … Read more
Global oil demand is set to reach record highs this year, with growth in natural gas demand on the horizon—and Canada’s oil and gas sector could be a major source of clean and reliable energy, if policymakers help make the country a more desirable place to invest. While investment in Canada’s oil and gas industry has increased steadily since … Read more
Bullish on outlook for company’s Mainline system, Greg Ebel says at company investor day in New York The Canadian Press CALGARY — Enbridge Inc. is bullish on the future of its Mainline pipeline system in light of projections that Canadian oil output could exceed the country’s pipeline export capacity as early as 2026. Chief executive Greg … Read more
March 07, 2024 1:05 PM EST | Source: Suncor Energy Inc. Calgary, Alberta–(Newsfile Corp. – March 7, 2024) – Fort McKay First Nation (FMFN) and Suncor (TSX: SU) (NYSE: SU) today announced the signing of a Memorandum of Understanding (MOU) on a prospective oil sands lease development opportunity on Fort McKay reserve lands in the Regional … Read more
CALGARY, Alberta, March 07, 2024 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to report operating and financial results for the fourth quarter and 2023 fiscal year. Full Year and Q4 2023 Highlights: As previously announced, Peyto closed the acquisition of Repsol Canada Energy Partnership (the “Repsol Acquisition”) for cash consideration of $699 … Read more
CALGARY, AB, March 7, 2024 /CNW/ – Bonterra Energy Corp. (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2023. The related financial statements and notes, as well as management’s discussion and analysis (“MD&A”) along with the annual information form (“AIF”), all for the period … Read more
CALGARY, AB, March 7, 2024 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) announces its operating and financial results for the three months and year ended December 31, 2023. Selected financial and operational information is outlined below and should be read in conjunction with the audited financial statements and the related management’s discussion and analysis (“MD&A”). These filings will … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened slightly on Thursday. WCS for April delivery in Hardisty, Alberta traded between $15.75 and $16.30 per barrel under WTI, according to brokerage CalRock. WCS had traded between $15.75 and $16 per barrel below the U.S. benchmark … Read more
TC Energy’s Keystone oil pipeline is offline due to operational issues, cutting off a major conduit of Canadian oil to the United States, three industry sources said on Thursday. The 622,000 barrel-per-day pipeline has been dogged by problems, including a 2022 spill in rural Kansas. Calgary, Alberta-based TC did not immediately respond to a request … Read more
CALGARY, Alberta, March 07, 2024 (GLOBE NEWSWIRE) — Crew Energy Inc. (TSX: CR; OTCQB: CWEGF) (“Crew” or the “Company”), a growth-oriented natural gas weighted producer operating in the world-class Montney play in northeast British Columbia (“NE BC”), is pleased to announce our operating and financial results for the three and twelve-month periods ended December 31, 2023. Crew’s audited … Read more
Summary Delayed rate cut expected, likely to buoy dollar China Jan-Feb crude imports rise U.S. crude stocks rose as gasoline, distillate stocks drop LONDON, March 7 (Reuters) – Oil prices slipped on Thursday as expectations that U.S. interest rate cuts could be delayed capped gains, though upbeat Chinese trade data augured well for demand in … Read more
Calgary, Alberta–(Newsfile Corp. – March 6, 2024) – Gear Energy Ltd. (“Gear” or the “Company”) (TSX: GXE) (OTCQX: GENGF) announces that Ingram Gillmore will be retiring from his role as the President and Chief Executive Officer (“CEO”) of the Company effective April 8, 2024. The Company is also pleased to announce that Kevin Johnson will be … Read more
CALGARY, AB, March 6, 2024 /CNW/ – Surge Energy Inc. (“Surge”, “SGY”, or the “Company”) (TSX: SGY) is pleased to announce its financial and operating results for the quarter and year ended December 31, 2023; and its year end 2023 reserves as independently evaluated by Sproule Associates Limited (“Sproule”). Surge’s disciplined operating strategy involves focusing growth and development capital to … Read more
CALGARY, AB, March 7, 2024 /PRNewswire/ – Enbridge Inc. (TSX: ENB) (NYSE: ENB) (“Enbridge” or the “Company”) announced today the closing of its acquisition of The East Ohio Gas Company (“EOG”) from Dominion Energy, Inc. The gas utility will be doing business as Enbridge Gas Ohio and will join Enbridge’s Gas Distribution and Storage Business Unit. … Read more
Adjusted funds flow (AFF)1 of $5.49/share Record annual production of 22,587 boe / day (27% increase over 2022) Return on average capital employed (ROACE)1 of 21% Increased total proved plus probable Net Present Value by 9% year-over-year to $2.8 billion (NPV10) 2024 guidance reaffirmed CALGARY, AB, March 6, 2024 /CNW/ – Kiwetinohk Energy Corp. (TSX: KEC) today reported its 2023 financial and operational results and … Read more
EDMONTON — An Alberta First Nation has filed a sweeping lawsuit against the province’s energy regulator and the government over releases from an oilsands mine, alleging the agency acted in bad faith and is set up in a way that violates the Constitutio…
Original Story in Toronto Sun The Trudeau government can rebrand its carbon tax anyway it likes, but most Canadians are giving it the thumbs down. A survey released this week by Leger for the Canadian Taxpayers Federation found almost seven in 10 Canadians (69%) oppose hiking the carbon tax on April 1, with only 31% … Read more
Bloomberg The boss of the world’s biggest oil-services company says his industry isn’t moving fast enough to do its part in the fight against global warming. SLB Chief Executive Officer Olivier Le Peuch said he and his peers have a responsibility to find ways to reduce greenhouse gas emissions from drilling, fracking and pumping. Yet progress during … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) traded steady on Wednesday. WCS for April delivery in Hardisty, Alberta began trading at $15.80 per barrel below WTI and then traded between $16 and $15.75 under WTI, according to brokerage CalRock. WCS had traded between $15.90 … Read more
CALGARY, AB, March 7, 2024 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation”) (TSX: TWM) is pleased to announce that it has received Toronto Stock Exchange (“TSX”) approval of the Corporation’s notice of intention to make a Normal Course Issuer Bid (“NCIB”). The NCIB will commence on March 11, 2024 and end on March 10, 2025, or such earlier … Read more
CALGARY, AB, March 7, 2024 /CNW/ – Yangarra Resources Ltd. (“Yangarra” or the “Company“) (TSX: YGR) announces its financial and operating results and reserves for the year ended December 31, 2023. 2023 Operations Review Yangarra continued to refine the Company’s drilling approach resulting in a dramatic reduction in drilling times and drilling costs. The new core area of Chambers with Cardium, … Read more
Calgary, Alberta–(Newsfile Corp. – March 7, 2024) – Coelacanth Energy Inc. (TSXV: CEI) (“Coelacanth” or the “Company“) announces that its Board of Directors has approved a capital budget (“Budget”) of up to $128 million to be invested in 2024 and Q1 2025. Substantially all of the Budget will be spent at Two Rivers where Coelacanth is developing … Read more
CALGARY — TC Energy Corp. has cut an unspecified number of jobs, primarily in Calgary and Houston, the pipeline company confirmed Wednesday.
A company spokesperson said in an emailed statement the layoffs relate to TC Energy’s previously announced pla…
“Addressing climate change” is the wrong target; we want to reduce climate danger—and that requires liberating, not eliminating, fossil fuel use. By Alex Epstein Q: What should government do to address climate change? A: “Addressing climate change” is the wrong target; we want to reduce climate danger. And the proven way to do that is: let us use … Read more
Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 37 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
‘Stick-based approach with some carrots thrown in’ Bloomberg News Robert Tuttle Cenovus Energy Inc. blasted the Canadian government for not providing enough financial support for the oilsands industry’s proposed $16.5-billion carbon capture system. The federal government has proposed tax credits covering about half of the capital costs for the project, and Alberta has offered a 12 per … Read more
U.S. natural gas output fell about 7% over the past month as producers scaled back production following a collapse in prices to a 3-1/2-year low. Gas prices are down about 23% so far this year, after plunging 44% in 2023, as record production and weak demand from a mild winter left storage facilities at well … Read more
CALGARY, AB, March 6, 2024 /CNW/ – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the year ended December 31, 2023. The audited financial statements, management discussion and analysis and annual information form for the year ended December 31, 2023 will be available on the System for … Read more
CALGARY, AB, March 6, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to release financial and operating results for the full year and fourth quarter of 2023, announce an increase in both 2023 reserves and the quarterly base dividend, as well as declare a special dividend and a quarterly dividend. HIGHLIGHTS Full-year 2023 … Read more
21st Annual Canadian School of Hydrocarbon Measurement (CsHm) The objective of the School, alongside the supporting associations and the operational and manufacturing entities within the petroleum and natural gas sector, is to offer educational guidance in technical domains to individuals associated with the industry. We aim to convey knowledge about effective facility design, the proper … Read more
Fort Saskatchewan, Alberta – Alberta’s Industrial Heartland Association (AIHA), the organization that represents economic development for Alberta’s Industrial Heartland (AIH), has launched a new logo and brand identity. “Our new logo encapsulates the essence of Alberta’s Industrial Heartland – Canada’s largest hydrocarbon processing region and a hub of innovation and economic growth,” say Mark Plamondon, … Read more
“It’s going to help us a great deal to get the CT scanner. We’ve been wanting to have one for many years” By Cody Ciona Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo courtesy of the Squamish Hospital Foundation The benefits of liquefied natural gas (LNG) development in … Read more
CALGARY, AB, March 6, 2024 /PRNewswire/ – Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) is providing an update on its strategic priorities and financial outlook, which will be further discussed at the Company’s investor conference today in New York. A virtual broadcast of the event is also available for registered participants. Highlights Extending average … Read more
CALGARY, AB, March 6, 2024 /CNW/ – Paramount Resources Ltd. (“Paramount” or the “Company”) (TSX: POU) is pleased to announce its 2023 annual financial and operating results, highlighted by record production, and a $47 million non-core asset disposition. The Company is also providing a production update and revised 2024 guidance. 2023 HIGHLIGHTS The Company achieved record annual sales volumes of 96,393 … Read more
Climate change group’s report highlights Canadian exposure About 5% of the country’s GDP stems from oil and gas sector Canada’s biggest banks are more than twice as exposed to the fossil-fuel business as their European and US counterparts, according to a report from climate change think tank InfluenceMap. The country’s largest lenders — Royal Bank of Canada, Toronto-Dominion … Read more
Summary China 5% growth target lacks concrete stimulus plans Investors on alert for U.S. rate cut signals Some oil supply tightness with OPEC+ cut extension LONDON, March 6 (Reuters) – Oil prices rebounded slightly on Wednesday after four days of declines as signs of supply tightness amid output cuts by major producers overrode demand concerns … Read more
(Reuters) – Pipeline operator Enbridge said on Wednesday it will invest about $500 million in expanding its pipeline and storage assets to improve its U.S. Gulf Coast presence. Enbridge operates North America’s biggest oil pipeline network, the Mainline, which moves Canadian crude from Alberta to U.S. and eastern Canadian refineries. The company said it will … Read more
PowerGold, a leading provider of renewable energy solutions, today announced the upcoming launch of its groundbreaking ENP Token, poised to disrupt the sustainable investing landscape with the upcoming launch of its innovative ENP Token. This groundbreaking tokenization initiative offers investors a unique opportunity to participate in the growth of the renewable energy sector while contributing … Read more
By Yogi Schulz Here’s the link to my IT blog at IT World Canada Project managers and teams suffer dysfunctional consequences when project sponsors shirk their roles in the energy industry. Projects flounder when sponsors are absent, hiding deliberately or unsure of their role. Ideally, project managers collaborate with project sponsors and stakeholders to position … Read more
To schedule a tour of the Calgary Petroleum Club email: [email protected] or call: 403-260-6367
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) shrank on Tuesday. * WCS for April delivery in Hardisty, Alberta began trading at $15.90 a barrel under WTI and ended the day at $15.75, according to brokerage CalRock. WCS had traded around $16.15 per barrel below … Read more
Join us on Thursday April 18th at 11:30am MST at The Ranchmen’s Club for an incredibly informative seminar on taxation featuring special guest speaker Kim G C Moody FCPA, FCA, TEP, Founder of Moodys Private Client, Moodys Tax. Kim is an expert in all things tax here in Calgary. We expect the Federal Budget to be released … Read more
Saskatchewan Premier ’Immoral’ for Refusing to Submit Carbon-Tax Money, Guilbeault says Moe is protesting Ottawa’s decision to exempt heating oil from the levy but not natural gas, which is used by eight in 10 households in Saskatchewan The Canadian Press OTTAWA — Environment Minister Steven Guilbeault says Ottawa has to take action against Saskatchewan for … Read more
ALBERTA – March 5 – Young Women in Energy (YWE) is proud to announce ten (10) inspirational young women of 2023 who are future leaders of Alberta’s energy industry. Award winners are selected based on their commitment to challenging the status quo through new and innovative initiatives, demonstrative leadership (with or without the title), top … Read more
CALGARY, AB, March 5, 2024 /CNW/ – Journey Energy Inc. (TSX: JOY) (the “Company” or “Journey“) is pleased to announce that it has entered into an agreement with Echelon Wealth Partners Inc. (the “Underwriter“) pursuant to which the Underwriter has agreed to purchase, on a bought deal, private placement basis, 38,000 senior unsecured convertible debentures of the Company (the “Convertible … Read more
CALGARY, Alberta, March 05, 2024 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) is pleased to announce that it has closed the previously announced sales of its Evi assets in Northern Alberta for net proceeds of $22.5 million after adjustments, based on an effective date of August 1, 2023, and certain non-core assets … Read more
How a fossil fuel-dependent jurisdiction taxes battery vehicles says a lot. Another fossil fuel-dependent jurisdiction has decided to tax electric cars because they exist. This is lazy and unambitious tax policy-making at its finest. How To Gaslight A Province I’ve written a couple of articles about energy transition and its unanswered questions, one of which was how governments … Read more
Summary U.S. crude stocks forecast to rise by 2.6 million barrels China vows to ‘transform’ economy, sets growth target Oil’s physical market has begun to tighten, ANZ says LONDON, March 5 (Reuters) – Oil steadied on Tuesday after falling in the previous session as the prospect of a tighter market due to OPEC+ supply restraint … Read more
Calgary, Alberta–(Newsfile Corp. – March 4, 2024) – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company“) announces its 2023 annual results, filing of disclosure documents, year-end reserves, provides 2024 guidance, dividend declaration and executive update. Q4 2023 and 2023 annual results are as follows: Generated $9.7 million ($0.03 per basic and fully diluted per … Read more
CALGARY, AB, March 4, 2024 /CNW/ – Bonterra Energy Corp. (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce that the Company has acquired a high quality, undeveloped Charlie Lake asset that is prospective for light oil, comprised of 79 net sections of land in Bonanza, Alberta and 330 BOE per day1 of production, for total cash consideration of $24.1 million (“the Acquisition”). The Acquisition, which … Read more
REGISTER NOW Hosted by MNP Digital and Microsoft, this exclusive session is designed to showcase how Microsoft’s cutting-edge technologies are reshaping the landscape of the energy sector. This engaging session will cover the application of Azure’s cloud services, Fabric’s management tools, and Power Platform’s analytics to enhance efficiency and sustainability within your organization. What you’ll … Read more
By David Fickling David Fickling is a Bloomberg Opinion columnist covering energy and commodities. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times. Think of an iconic image of the petroleum age, and you may well be picturing a fountain of crude spouting hundreds of feet into the air, scattering … Read more
OTTAWA, ON: The Canadian Taxpayers Federation released Leger polling showing 69 per cent of Canadians oppose the federal carbon tax hike on April 1. “The poll is clear: the vast majority of Canadians, across every province and all demographics, oppose the upcoming federal carbon tax hike,” said Franco Terrazzano, CTF Federal Director. “Prime Minister Justin Trudeau should listen … Read more
CALGARY, AB, March 4, 2024 /PRNewswire/ – Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that the Canada Energy Regulator (CER) has approved the Mainline Tolling negotiated settlement effective until December 31, 2028. The settlement sets tariffs for crude oil and liquids shipments that start in Western Canada and are delivered across Canada … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) traded around $16 on Monday, the second day of the new monthly trade cycle. * WCS for April delivery in Hardisty, Alberta began trading at $16.50 a barrel under WTI before dropping to $16.15, according to brokerage … Read more
CALGARY, AB, March 4, 2024 /CNW/ – Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company”) is pleased to provide fourth quarter and annual 2023 financial results and confirm the Company’s 2024 guidance estimates. Select financial information is outlined below and should be read in conjunction with Topaz’s consolidated financial statements and related management’s discussion and analysis (“MD&A”) as … Read more
CALGARY, AB, March 4, 2024 /CNW/ – Advantage Energy Ltd. (“Advantage” or the “Corporation”) is pleased to report 2023 year-end financial and operating results as well as year-end 2023 reserves. Advantage achieved exceptional results during 2023, including record production, improved well results, and significant share buybacks, while ending the year below our net debt target. Additional achievements included an … Read more
CALGARY — Simpson Oil Ltd. says it will evaluate its options to protect its shareholder rights once restrictions under an agreement that limits its ability to nominate and vote for board members at Parkland Corp. expire on March 31.
The company’s two …
The European Union is set to call for the fossil fuel industry to help pay for fighting climate change in poorer countries under a United Nations target, a draft document shows, as nations prepare for talks this year on a global finance goal. This year’s U.N. climate negotiations in Baku, Azerbaijan, in November, are the … Read more
CALGARY — TC Energy Corp. and its partner have signed a deal to sell the Portland Natural Gas Transmission System for US$1.14 billion including the assumption of US$250 million in debt.
The buyer is BlackRock, through a fund managed by its diversified…
The nation is seeking to exploit the energy transition by boosting LNG production. By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” The energy transition will eventually be a zero-sum game — for … Read more
Producers may need to stick with output curbs for the entire year, and the cooperation of all is far from guaranteed. OPEC+ may have put a floor under crude prices by extending oil supply cuts for another quarter, but the group will soon face a more grueling test. Saudi Arabia and its partners agreed Sunday to keep … Read more
The Smith government released its 2024 budget last Thursday, and while it signalled a new fiscal approach that no longer relies so heavily on volatile resource revenue, Albertans must see real action and commitment over the long term. For context, resource revenue, which includes oil and gas royalties, skyrocketed from $3.1 billion in 2020/21 to $16.2 … Read more
Summary OPEC+ extend 2.2 mln bpd voluntary oil output cuts through Q2 Russia to cut oil output and exports by another 417,000 bpd Brent spreads widen after OPEC+ announcement LONDON, March 4 (Reuters) – Oil prices were little changed on Monday following the widely expected extension of voluntary output cuts through the middle of the … Read more
U.S. energy firms this week added oil and natural gas rigs for a second straight week to their highest since 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 by three to 629 in the week to … Read more
The Canadian Taxpayers Federation is calling on the federal government to scrap its plan to increase the carbon tax and alcohol taxes while also hiking salaries for members of Parliament on April 1. “In one month, the feds will make like more expensive with another round of tax hikes,” said Franco Terrazzano, CTF Federal Director. … Read more
Introduction In today’s world, having different systems and devices can be both tricky and beneficial for industries. One significant challenge is bridging the digital gap between Inspection Data Management System (IDMS) and Nondestructive Testing (NDT) devices. Since inspections use lots of data, it’s important to exchange it automatically and thus digitally. This article explores the … Read more
Why are 90 and 120 day pay agreements accepted in the oil and gas and construction industries? How did we get here? In the early 1980s Dome Petroleum over-extended themselves with the purchase of a few too many additional oil and gas companies. To help compensate for this, they told their vendors they wouldn’t pay … Read more
Introduction In the dynamic landscape of the energy sector, companies are constantly navigating through a myriad of challenges. From ensuring the utmost safety in operations to optimizing combustion efficiency, the industry faces pressing demands for reliable and advanced solutions. One such pivotal area is the effective monitoring and management of combustion systems, a task where … Read more
By Canada Powered by Women Bills are one of life’s certainties, and in Canada, so is winter. When combined, the two add up to a growing affordability crisis across the country. Lots has been said about the rising cost of daily essentials such as groceries and gas, but another factor weighing heavily on Canadians’ pocketbooks … Read more
Oil from Canada supplies more than 23% of U.S. refinery feedstock, helping bolster North American energy security By Ven Venkatachalam Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Aerial view of an oil refinery in Los Angeles, California. Getty Images photo Introduction The refining industry¹ in the United States … Read more
The small Gulf nation plans to snag an even bigger share of the global natural gas trade, adding more than $30 billion to its annual revenue in the process. With a two-phase mega-expansion already underway and an enormous new buildout now on the horizon, the small Gulf nation of Qatar is setting itself up to control about … Read more
Summary OPEC+ producers to continue cuts of 2.2 million bpd Russia to deepen oil output cuts, ease export limits Oil seen opening stronger when trading resumes – PVM DUBAI, March 3 (Reuters) – OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend voluntary oil output cuts of 2.2 million barrels per … Read more
HALIFAX, NS, March 1, 2024 /CNW/ – G2S2 Capital Inc. (“G2S2”) announces that it has acquired ownership of, and control over, an additional 698,700 common shares of Western Energy Services Corp. (“Western”). Specifically, on March 1, 2024, G2S2 acquired 698,700 common shares through the facilities of the Toronto Stock Exchange at a price of $2.60 per share (the “Acquisition”), representing … Read more
(Reuters) – Oil producer MEG Energy said on Friday that line fill on Canada’s long-delayed Trans Mountain oil pipeline expansion would start from April. Line fill is the last step before the expanded Alberta-to-British Columbia pipeline begins service, providing additional access for Canadian oil to refineries on the U.S. West Coast and in Asia. The Canadian … Read more
OTTAWA, ON, Feb. 29, 2024 /CNW/ – For decades, Canada and Ontario’s nuclear technology has been world-leading, providing safe, reliable, and affordable non-emitting energy, as well as good jobs for workers, with over 75,000 hard-working Canadians employed across the nuclear supply chain. Today, the governments of Canada and Ontario are working together to advance new nuclear power generation in Ontario to cement our globally recognized competitive advantage, … Read more
Summary OPEC+ to consider extending voluntary production cuts US economic data reinforces market bets for interest rate cut US oil rig count rose to highest since September NEW YORK, March 1 (Reuters) – Oil prices rose 2% on Friday and posted weekly gains as traders awaited an OPEC+ decision on supply agreements for the second … Read more
U.S. production of oil and gas set new seasonal records in December, capping off an unprecedented year, according to data published by the U.S. Energy Information Administration (EIA) on Thursday. Production continued to climb even as prices slumped from the very high levels seen in mid-2022 after Russia’s invasion of Ukraine, contributing to the accumulation … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) edged wider on Friday, the first day of the new monthly trade cycle, continuing to trade in a narrow range. * WCS for April delivery in Hardisty, Alberta, settled at $18.75 a barrel under WTI, according to … Read more
A closer look at Ottawa’s policy shifts reveals mixed signals on the future of energy. By Resource Works More News and Views From Resource Works Here For a while there, we thought that Canada – facing enormous demand for more and more electricity — was finally all in for more nuclear power generation. Last fall, … Read more
Postmedia News Electric car owners in Alberta will be forced to pay an annual $200 electric vehicle tax starting as early as January 2025.In Alberta’s 2024 budget unveiled Thursday, the province says the new tax will be applied when electric car owners register their vehicle and will be in addition to the current registration fee. … Read more
OPEC oil output rises by 90,000 bpd in February, survey finds (Reuters) – The following table shows crude output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in February and January, according to a Reuters survey published on Thursday. OPEC and allies, together known as OPEC+, announced … Read more
CALGARY, Alberta, Feb. 29, 2024 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce its financial and operating results for the three- and twelve-month periods ended December 31, 2023, as well as the results of its independent reserves assessment as at December 31, 2023. Additionally, the Company announces … Read more
CALGARY, AB, March 1, 2024 2023 HIGHLIGHTS Ensign’s fourth quarter and year-end 2023 results reflect the Company’s commitment to revenue rate discipline, focus on cash flow generation, and continued debt reduction. Revenue for 2023 was $1,791.8 million, a 14 percent increase from 2022 revenue of $1,577.3 million. Revenue amounts and percentage of total by geographic area: Canada – $446.4 million, … Read more
All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen unless otherwise noted. The Corporation’s Non-GAAP and Other Financial Measures are detailed in the Advisory section of this news release. They include: cash operating netback, bitumen realization net of transportation and storage expense, operating expenses … Read more
Darlene Gates to become President & CEO with departure of Derek Evans CALGARY, AB, Feb. 29, 2024 /CNW/ – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation”) today announced that Derek Evans will be stepping down from his role as President and Chief Executive Officer and from its Board of Directors effective May 1, 2024. Concurrent with this announcement, the Board of Directors … Read more
Canada’s main oil-producing province of Alberta on Thursday said the budget surplus would shrink in the 2024/25 fiscal year due to adverse market conditions before growing again as the economy strengthened. In an annual budget document, the finance ministry said the 2024/25 surplus would be just C$0.4 billion, down from C$5.2 billion in 2023/24. The … Read more
CDN NEWS | 
US NEWS 
