ST. JOHN’S, N.L. — Fortis Inc. says it earned $331 million in its second quarter as it saw strength in its Arizona business and benefited from new customer rates at Tucson Electric Power.
The St. John’s, N.L.-based gas and electric utility company say…
CALGARY, Alberta, July 30, 2024 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. This … Read more
You’re invited to join Presto Geosystems for a live, 1-hour webinar to explore how the GEOWEB® Soil Stabilization System can significantly improve the lifecycle of your oil and gas roads. Webinar Description When unpaved roads, drill pads, and work platforms are constructed over weak subgrades, base deterioration can lead to degradation. This degradation leads to … Read more
Summary U.S. crude stocks fell 4.495 mln bbls last week – API data OPEC+ likely to stick to output policy at Aug. 1 meeting (Reuters) – Oil futures rebounded more than $1 a barrel from 7-week lows on Wednesday after the killing of a Hamas leader in Iran ratcheted up tensions in the Middle East, … Read more
How Technology Helps Garner Information from Work Already Done Are you managing your Asset Retirement Obligations (ARO) effectively? Despite software solutions purpose-built for oil and gas companies to manage, track, and calculate ARO, many companies choose to manage their ARO programs using spreadsheets. But as ARO Management has grown in importance and complexity, managing an … Read more
Downhole Monitoring Basics: How utilizing real-time downhole data can help reduce equipment failures and minimize operational spending Operating Costs For Oil & Gas Producers As is the case in any industry, it is critical for oil and gas producers to keep operating costs to a minimum so as to maximize their profitability. Beyond just reducing … Read more
CALGARY, Alberta, July 30, 2024 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. This … Read more
Operational Excellence Drives Strong Financial Results; Production Guidance Raised Highlights: Generated net earnings of $340 million, cash from operating activities of $1,020 million, Non-GAAP Cash Flow of $1,025 million and Non-GAAP Free Cash Flow of $403 million after capital expenditures of $622 million Second quarter production was at the high-end or above the guidance range … Read more
CALGARY, AB, July 30, 2024 /CNW/ – Yangarra Resources Ltd. (“Yangarra” or the “Company“) (TSX: YGR) announces its financial and operating results for the three and six months ended June 30, 2024. Operations Update The Company grew production to 11,366 boe/d for the second quarter due to a strong finish for the winter drill program and continued success in the well … Read more
Calgary, Alberta–(Newsfile Corp. – July 30, 2024) – Trican Well Service Ltd. (TSX: TCW) (“Trican” or the “Company”) is pleased to announce its second quarter results for 2024. The following news release should be read in conjunction with Management’s Discussion and Analysis (“MD&A”), the unaudited interim consolidated financial statements and related notes for the three … Read more
Calgary, Alberta–(Newsfile Corp. – July 30, 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 six months ended June 30, 2024. “Saturn’s capital structure changes implemented in Q2 2024, in conjunction with a major … Read more
CALGARY, AB, July 30, 2024 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce the Company’s financial and operating results for the quarter ended June 30, 2024, as well as an update on Surge’s latest operational achievements. MESSAGE TO SHAREHOLDERS Surge has a high quality, conventional light and medium gravity crude oil asset and … Read more
CALGARY — Precision Drilling Corp. says its earnings for the second quarter declined 23 per cent year-over-year to $20.7 million, down from $26.9 million.
Revenue for the quarter was $429.2 million, up from $425.6 million during the same quarter last …
By Resource Works More News and Views From Resource Works Here President Joe Biden had noble goals with his EV expansion, but it added a new and costly subsidy battle for Canada to reckon with. In a move that was somehow both shocking and unsurprising, United States President Joe Biden announced on Sunday that he … Read more
CALGARY — TC Energy Corp. is selling a minority stake in its Western Canadian natural gas transmission network to a consortium of Indigenous communities for $1 billion.
The Calgary-based pipeline company said the deal, announced Tuesday, will enable 7…
July 30 (Reuters) – Independent British oil producer Viaro Energy said on Tuesday it would buy UK Southern North Sea assets owned by Shell (SHEL.L) and Exxon Mobil (XOM.N). Reuters reported about the deal talks in May, citing sources and one of them had said the transaction could be valued at $500 million. Viaro said … Read more
By John Kemp (Reuters) – Portfolio investors have soured on the outlook for petroleum prices as an anticipated large depletion of inventories during the third quarter has failed to materialise. Hedge funds and other money managers sold the equivalent of 103 million barrels in the six major futures and options contracts over the seven days ending … Read more
Summary China’s leaders vow to boost policy support for economy US crude, fuel stockpiles expected lower in latest report OPEC+ panel meets on Thursday, no policy tweaks expected (Reuters) – Oil steadied on Tuesday near its lowest levels since early June as worries about demand in China were balanced by a government pledge of policy … Read more
Adjusted EBITDA1 of $114 million ($0.43 per basic share) and $246 million ($0.90 per basic share) for the three and six months ended June 30, 2024, respectively Full year Adjusted EBITDA guidance increased to $470 – $490 million Adjusted EBITDA margin1 of 34%, maintaining consistency year over year Net cash provided by operating activities of $91 million and discretionary free cash flow1 of $53 million 17% of shares outstanding repurchased year to date … Read more
Made possible by the Alberta Indigenous Opportunities Corporation, the partnership enables Indigenous Communities to own part of Canada’s largest natural gas pipeline network, while creating shareholder value and progressing TC Energy’s strategic priorities TC Energy’s NGTL System compressor station and pipeline right-of-way near Nordegg, Alta. CALGARY, Alberta, July 30, 2024 (GLOBE NEWSWIRE) — TC Energy … Read more
Calgary, Alberta–(Newsfile Corp. – July 30, 2024) – Tuktu Resources Ltd. (TSXV: TUK) (“Tuktu” or the “Company“) is pleased to announce the earning on the Company’s recently executed farm-in agreement and successful test of a new oil zone in the deep basin of southern Alberta. As previously announced, on July 17, 2024, the Company executed a definitive … Read more
CALGARY — Trans Mountain Corp. says CEO Dawn Farrell will become chair of the company’s board Sept. 1.
The Crown corporation, which operates Canada’s only crude oil pipeline system from Alberta to the West Coast, says current board chair Bill Downe is…
U.S. President Joe Biden’s administration on Monday accused Venezuela of electoral manipulation and repression and said Caracas’ announcement that President Nicolas Maduro had won a third term in office had been stripped of “any credibility.” Biden administration officials, briefing reporters about the vote on condition of anonymity, did not announce any new punitive measures but … Read more
Russian President Vladimir Putin on Monday congratulated Nicolas Maduro on winning the disputed Venezuelan election, and the Kremlin said it was deepening cooperation in all areas – including sensitive ones – with Caracas. Maduro and his opposition rival Edmundo Gonzalez have both claimed victory in the presidential election as Washington and some other foreign governments … Read more
Bloomberg News Brian Platt Preparing the pipeline for a sale before the next election is proving complicated, and reasons to delay are piling up Prime Minister Justin Trudeau’s government is likely to stall the sale of the Trans Mountain oil pipeline until after the federal election in 2025, according to officials familiar with internal discussions. The pipeline, … Read more
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, July 29, 2024 (GLOBE NEWSWIRE) — Gibson Energy Inc. (TSX:GEI) (“Gibson” or the “Company”) announced today its financial and operating results for the three and six months ended June 30, 2024. “We are pleased to announce another strong quarter, driven by a new high water … Read more
Calgary, Alberta–(Newsfile Corp. – July 29, 2024) – Resolute Resources Ltd. (TSXV: RRL) (“Resolute” or the “Company“) is pleased to announce that it has entered into a definitive agreement to sell its sole direct wholly-owned subsidiary, Resolute Resources Limited (the “Subsidiary“), to a private arm’s length purchaser (the “Purchaser“) for cash consideration of $75,000. The Subsidiary holds … Read more
CALGARY, Alberta, July 29, 2024 (GLOBE NEWSWIRE) — The Board of Directors of Trans Mountain Corporation today announced William (Bill) Downe’s retirement as Trans Mountain’s Board Chair after six years of dedicated service and the appointment of Dawn Farrell, Trans Mountain’s President and CEO, to succeed him as Board Chair effective September 1, 2024. The … Read more
Calgary, Alberta–(Newsfile Corp. – July 29, 2024) – Resolute Resources Ltd. (TSXV: RRL) (“Resolute” or the “Company“) is pleased to announce that it has entered into a definitive agreement to sell its sole direct wholly-owned subsidiary, Resolute Resources Limited (the “Subsidiary“), to a private arm’s length purchaser (the “Purchaser“) for cash consideration of $75,000. The Subsidiary … Read more
Introduction Proper sampling in the energy industry is essential for accurate analysis of natural gas components such as BTU determination, moisture, and H2S. This article discusses fundamental methods for designing and sampling for these analyses, explores alternative systems for specific applications, and considers various sampling configurations for different contaminants. The application, including the purpose of … Read more
The country is concerned that Chinese companies may try to set up or exploit facilities in neighbouring countries to avoid tariffs Bloomberg News U.S. supports Canada’s move to close Chinese EV ‘loophole’ The country is concerned that Chinese companies may try to set up or exploit facilities in neighbouring countries to avoid tariffs The U.S. … Read more
Harris supported ban on extraction method as candidate in 2019 Reversal shows focus on vice president after Biden dropped out Vice President Kamala Harris’ campaign said she doesn’t support a ban on fracking, reversing a stance she took on the hot-button oil and gas extraction technique as a presidential candidate in 2019. Harris’ previous anti-fracking position … Read more
(Reuters) – Oil prices rose on Monday, paring last week’s loss, on fears of a widening conflict in the Middle East following a rocket strike in the Israeli-occupied Golan Heights, which Israel and the United States blamed on Lebanese armed group Hezbollah. Brent crude futures gained 20 cents, or 0.3%, to $81.33 a barrel at 0010 … Read more
As Stewart Muir, CEO of Resource Works, attends the annual Pacific North West Economic Region (PNWER) conference in Whistler this week, the unexpected news that President Joe Biden won’t be on the November 5 presidential ballot sent shockwaves through the policy and trade discussions. By Resource Works More News and Views From Resource Works Here … Read more
You’re invited to join Presto Geosystems for a live, 1-hour webinar to explore how the GEOWEB® Soil Stabilization System can significantly improve the life cycle of your road projects. Webinar Description When paved and unpaved roadway surfaces are built over weak subgrades, base deterioration can lead to degradation. This causes unwanted deflections, rutting, and cracking … Read more
By Reuters (Reuters) – Baker Hughes cut its outlook for spending by oil producers on Friday, citing lower drilling activity by North American companies, joining other oilfield service companies in warning about softness in the region. However, the company raised its full-year revenue and profit estimates, banking on strong international growth and demand for gas equipment. … 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 39 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
CALGARY, Alberta, July 25, 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, … Read more
Stellantis and Mazda are among the automakers offering an antidote to range anxiety: onboard generators (the gas kind). Despite a parade of electric vehicles that can travel more than 300 miles on a charge, range anxiety remains a major hurdle to widespread adoption particularly in the US. There is, however, a “no-duh” antidote to allay fears of … Read more
MONTREAL — Environmental activists have caused disruptions outside Montreal’s Trudeau International Airport for a third consecutive day in protest of Canadian fossil fuel policy.
Activist group Last Generation Canada says three of its members glued t…
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row, boosting the monthly count by the most since November 2022, 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 … Read more
By John Kemp (Reuters) – U.S. crude oil inventories have depleted faster than normal over the last four weeks – squeezing hedge funds running short positions, keeping spot prices firm and the futures curve in a steep backwardation. But with most short positions now repurchased this source of support has melted away and both spot prices … Read more
Woodside’s acquisition of Tellurian highlights the appeal of exporting American natural gas. Australia’s Woodside Energy Group Ltd. made a bold leap into US liquefied natural gas with its agreement to acquire Tellurian Inc. for $900 million in cash. Tellurian owns Driftwood, a proposed multibillion-dollar LNG export terminal in Louisiana. The takeover could make Woodside the second foreign … Read more
(Reuters) – Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that could ease Middle East tensions and accompanying supply concerns. Brent crude settled down $1.24, or 1.5%, at $81.13 a barrel. West Texas Intermediate crude ended $1.12, or 1.4%, lower at $77.16 … Read more
Appeared in the Financial Post, July 25, 2024 Many Canadians are unhappy about the carbon tax. Proponents argue it’s the cheapest way to reduce greenhouse gas (GHG) emissions, which is true, but the problem for the government is that even as the tax hits the upper limit of what people are willing to pay, … Read more
CALGARY — MEG Energy Corp. says it has started bringing workers back to its Christina Lake oilsands site after evacuating all non-essential personnel last week due to wildfires in northern Alberta.
CEO Darlene Gates said on a conference call Friday th…
CALGARY – MEG Energy Corp. says it has started bringing workers back to its Christina Lake oilsands site after evacuating all non-essential personnel last week due to wildfires in northern Alberta. CEO Darlene Gates said on a conference call Friday that the fire drew so close to the site that at one point flames were “all … Read more
Meet AXIS XC1311, the first network horn speaker from Axis certified for Zone and Division 1 hazardous areas. Easy to install, configure, and use, this smart, all-in-one horn speaker doesn’t just enable clear, long-range voice messages – it unlocks the power and flexibility of IP audio in hazardous areas. AXIS XC1311 is certified worldwide for use … Read more
Split flow pumps and synchronized lifting systems are two innovative solutions widely utilized in engineering, particularly in the fields of construction and maintenance of large structures. These technologies serve distinct purposes and operate on different principles, offering solutions to complex lifting and positioning challenges. Understanding the differences between these systems is crucial for engineers, project … Read more
July 25 (Reuters) – Goldman Sachs said on Thursday that whoever wins the U.S. presidential election in November will have limited tools to significantly boost domestic oil supply next year. Strategic petroleum reserve stocks are low and regulatory easing may only significantly boost U.S. long-run supply, the bank said in a client note. Oil prices rose … Read more
Original: dailyhive.com/vancouver/city-of-vancouver-natural-gas-new-homes-heating In a surprising move bound to be controversial, Vancouver City Council has approved a directive for City of Vancouver staff to restore the option for new home construction to use natural gas for heating and hot water. The directive passed in a 6-5 vote Tuesday evening during the City Council’s discussions on the … Read more
A Donald Trump presidency could be net bearish for oil prices due to a combination of factors including tariffs and oil-friendly policies, and pushing the Organization of the Petroleum Exporting Countries and allies (OPEC+) to release more oil into the market, Citi said in a research note on Thursday. “Trump could roll back environmental policies, … Read more
(Reuters) – Oil prices were up slightly on Friday on stronger-than-expected U.S. economic data that raised investor expectations for increasing crude oil demand from the world’s largest energy consumer. But concerns about soft economic conditions in Asia’s biggest economies, China and Japan, capped gains. Brent crude futures for September rose 7 cents to $82.44 a barrel … Read more
Trans Mountain Pipeline on Thursday said there is no indication of damage to its infrastructure, and a pipeline continues to operate safely after a wildfire reached the Canadian town of Jasper, Alberta. “We continue to work with the Town of Jasper and Jasper National Park to safely monitor the pipeline,” the operator said. The 890,000-barrel-per-day … Read more
CALGARY — MEG Energy announced a quarterly dividend of 10 cents per share as it reported higher earnings, saying a successful start-up of the Trans Mountain expansion has helped generate better prices for their oil.
The Calgary-basedoilsands company s…
CALGARY, AB, July 25, 2024 – The Alberta Energy Regulator’s industry-wide closure spend requirement for 2025 has been set at $750 million, a $50 million increase over last year’s requirement of $700 million. See Bulletin 2024-19 for more information. Closure spend requirements specify the minimum amount licensees are required to spend on closure work each year. As … Read more
Canadian energy company Pieridae Energy said on Thursday it has shut-in the production of about 6,250 barrels of oil equivalent per day (boe/d) that flows to a third-party owned and operated facility, in response to low natural gas prices. Pieridae said the shut-in of the uneconomic sour gas production was due to extremely low AECO … Read more
Vaughn Palmer: Premier David Eby endorsed the billion-dollar green hydrogen plant in Prince George. ‘I love this project,’ he told the legislature last year By Vaughn Palmer Billionaire Andrew Forrest, chairman of Fortescue Metals Group. PHOTO BY ANDREY RUDAKOV /Bloomberg Original: vancouversun.com/opinion/columnists/vaughn-palmer-australian-developer-putting-bc-hydrogen-projects-on-hold VICTORIA — Premier David Eby was quick with an endorsement last year when … Read more
Calgary, Alberta–(Newsfile Corp. – July 25, 2024) – Trican Well Service Ltd. (TSX: TCW) (“Trican”) is pleased to announce that it has entered into a partnership with Source Energy Services Ltd. (“Source”) to construct a new transload facility (the “Facility”) in The District of Taylor, British Columbia. The Facility will be unit train capable and … Read more
Completes strategic pivot to a focused E&P and Midstream company while reducing both debt and cost of capital CALGARY, Alberta, July 25, 2024 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) is pleased to announce it has completed the sale of its Goldboro assets (the “Goldboro Sale”) and has issued notice to repay in … Read more
CALGARY, AB, July 25, 2024 /CNW/ – Advantage Energy Ltd. (“Advantage” or the “Corporation”) is pleased to report 2024 second quarter financial and operating results. 2024 Second Quarter Financial Highlights Closed the acquisition of certain Charlie Lake and Montney assets for cash consideration of $445.5 million on June 24, 2024 (the “Acquisition”). Financing activities for the Acquisition included: Issued 5.9 million common shares for gross proceeds of $65.0 … Read more
All financial figures are in Canadian dollars ($ 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
CALGARY, AB, July 25, 2024 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) is pleased to announce its operating and financial results for the three and six months ended June 30, 2024 and declaration of quarterly dividend. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited condensed interim financial statements and the related … Read more
Calgary, Alberta–(Newsfile Corp. – July 25, 2024) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) reports its operating and financial results for the three and six months ended June 30, 2024 (all amounts are in Canadian dollars unless otherwise noted). “We delivered strong second quarter results with higher production, disciplined capital spending and meaningful free cash flow. … Read more
(Reuters) Russian President Vladimir Putin’s oil point man said on Thursday that there was no friction with OPEC+ due to Russia exceeding crude production quotas and that the world’s second largest oil exporter would compensate for its overpumping. Russia said on Wednesday that its crude oil production in June exceeded quotas set by the OPEC+ … Read more
CALGARY, AB, July 25, 2024 /CNW/ – Veren Inc. (“Veren” or the “Company”) (TSX: VRN) (NYSE: VRN) is pleased to announce its operating and financial results for the quarter ended June 30, 2024. KEY HIGHLIGHTS Continued operational execution in Alberta Montney and Kaybob Duvernay with recent wells among the top in the WCSB. Generated $195 million of excess cash flow in second … Read more
(Reuters) A raging wildfire has burned down part of the western Canadian tourist town of Jasper and firefighters were working on Thursday to save as many buildings as possible, authorities said. Jasper is in the middle of Jasper National Park, in the province of Alberta. The town and the park, which draws more than two … Read more
A wildfire reached the Canadian town of Jasper on Wednesday, one of hundreds ravaging the western provinces of Alberta and British Columbia, as firefighters battled to save key facilities such as the Trans Mountain Pipeline, authorities said. Wildfires burning uncontrolled across the region include 433 in British Columbia and 176 in Alberta, more than a … Read more
CALGARY, AB, July 24, 2024 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to report its operating and unaudited financial results for the three and six months ended June 30, 2024. Selected financial and operating information is outlined below and should be read with Whitecap’s unaudited interim consolidated financial statements and … Read more
By Nia Williams and Mrinalika Roy (Reuters) – Hundreds of uncontrolled wildfires burned across western Canada on Wednesday, putting more communities under evacuation alert and raising concerns about the blazes impacting Canadian crude production. There are 430 active wildfires in British Columbia and 177 active wildfires in Alberta, including more than a dozen in the … Read more
CALGARY — Veren Inc. reported its profit rose in its latest quarter to $261 million from $212.3 million a year ago.
The oil and gas producer formerly known as Crescent Point Energy Corp. says that amounted to 42 cents per share for the quarter ended …
CALGARY — With its recent buying spree behind it, Veren Inc. – formerly Crescent Point Energy Corp. – is turning its attention to paying down debt.
The oil and gas producer said Thursday its net debt as of June 30, 2024 was $3.0 billion, which reflect…
Most say economy would suffer, Canada-U.S. relationship would worsen; some Conservatives diverge July 23, 2024 – The U.S. presidential race was turned on its head by the Sunday news that current President Joe Biden had stopped his campaign for re-election and endorsed Vice President Kamala Harris to replace him. Whether Harris is the nominee, and what … Read more
Tesla stages US$386-billion comeback as Musk focuses on AI The chief executive managed to get investors to pay more mind to the automaker’s AI potential than its sluggish sales Bloomberg News This year has been a testament to Elon Musk’s ability to lead Tesla Inc.’s shares into and out of trouble. It’s been a volatile time even … Read more
Original: www.canada.ca/en/competition-bureau/news/2024/07/competition-bureau-seeks-feedback-on-competition-acts-new-greenwashing-provisions.html News release The Bureau takes this opportunity to give its general perspective on environmental claims July 22, 2024 – GATINEAU (Québec), Competition Bureau Today, the Competition Bureau is launching a public consultation to gather input from Canadians on specific questions related to the new greenwashing provisions of the Competition Act. This consultation will inform the Bureau’s development … Read more
Summary Mexico will likely need to import crude after 2030 Zama and Trion fields to lift output but others decline rapidly (Reuters) – Mexico’s incoming President Claudia Sheinbaum will likely face a new challenge fulfilling the dream of energy independence that led her predecessor to spend $17 billion on a new refinery: a shortfall in domestic crude supply. … Read more
(Reuters) – Oil prices fell on Thursday on mixed demand signals a day after large draws on U.S. inventories while consumption in China, the world’s largest crude importer, remains lacklustre. Brent crude futures for September fell 74 cents, or 0.9%, to $80.97 a barrel by 0855 GMT. U.S. West Texas Intermediate crude for September slid … Read more
Athabasca Oil Announces 2024 Second Quarter Results highlighted by Record Free Cash Flow, 28,000 bbl/d Milestone at Leismer and Strong Duvernay Well Results; Sanctioning Progressive Growth to 40,000 bbl/d at Leismer CALGARY, Alberta, July 24, 2024 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its second quarter … Read more
(Reuters) Canada’s Imperial Oil is reducing non-essential staff at the Kearl oil sands site as a precaution against the ongoing wildfires in the country, the company said on Wednesday. There are 430 wildfires in British Columbia with another 172 in Alberta including those near the key oil sands hub of Fort McMurray in northern Alberta. … Read more
Canada has a business investment problem, and it’s serious. Total business investment (inflation-adjusted, excluding residential construction) declined by 7.3 per cent between 2014 and 2022. The decline in business investment in the extractive sector (mining, quarrying, oil and gas) is even more pronounced. During that period, business investment in the extraction sector (again, excluding residential structures and … Read more
Pipeline operator to gain partners in Western Canada network Government loan guarantee of C$1 billion will facilitate deal TC Energy Corp. is nearing a deal to sell a stake in a natural gas pipeline system to indigenous communities in Western Canada, with help from Alberta’s government. A provincial government agency has given “contingent approval” on a … Read more
CALGARY, AB, July 24, 2024 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to report its operating and unaudited financial results for the three and six months ended June 30, 2024. Selected financial and operating information is outlined below and should be read with Whitecap’s unaudited interim consolidated financial statements and related … Read more
The Province and Halfway River First Nation are taking key actions together to protect the Nation’s Treaty 8 rights, heal the land and create more predictability for everyone in northeastern B.C. who relies on resource-industry jobs to support their lives and families. The Province and Halfway River are moving forward with implementing a landscape planning … Read more
(Reuters) Democratic U.S. lawmakers on Wednesday introduced a bill to hold energy companies accountable if they are found by federal regulators to have colluded with the Organization of the Petroleum Exporting Countries to raise oil prices. The bill, introduced by Senator Edward Markey and Representative Nanette Barragan, says that if any energy company is found by … Read more
GATINEAU, Que. — The federal Competition Bureau says it has launched an investigation into retail gasoline consultancy Kalibrate to see whether the services it offers are negatively affecting competition between gas stations in Canada.
Kalibrate Canad…
(Reuters) – Oil prices edged higher on Wednesday but were still close to their lowest level in six weeks with few signs of the fuel consumption surge usually seen at this stage of the northern hemisphere summer. Still, prices snapped three straight sessions of decline on falling U.S. crude inventories and growing supply risks from … Read more
(Reuters) – U.S. Vice President Kamala Harris is potentially poised to become the Democratic presidential nominee in the November election. Here are her views and actions related to some key business topics. BIG TECH As a candidate for California attorney general, Harris reportedly assured potential donors that she was “a capitalist.” She has generally been seen as … Read more
Fires burn close to 388,000 barrels a day of oil production Jasper National Park is evacuated due to wildfire threat Wildfires in Canada’s energy-producing Alberta province are threatening almost 10% of the region’s oil production and forcing the evacuation of one of the country’s largest national parks during the peak summer tourist season. Hot weather … Read more
In October 2020, the federal and Ontario governments announced with fanfare that they would each pour $295 million into helping Ford upgrade its assembly plant in Oakville to start making electric vehicles. “The upgrade of the Ford plant will make Oakville into the company’s No 1. electric vehicle factory in North America,” we were told. … Read more
Chinese refiner pays about US$10 more for oil off TMX compared to sales value in Alberta By Deborah Jaremko A worker at Trans Mountain’s Burnaby Terminal. Photo courtesy Trans Mountain Corporation Canada’s oil sands producers are “back in the limelight” for investors following completion of the Trans Mountain pipeline expansion, according to a report by Enervus … Read more
Let’s talk about road deterioration and how to build better roads. Roads play a fundamental role in connecting societies and fostering economic growth. However, road construction methods have not kept up with the factors compromising road performance. In fact, as we traverse bumpy, pothole-riddled, or sinking roads, the common problems of conventional road construction become … Read more
As California attorney general, Harris had sued oil companies She’s been more critical of fracking, offshore oil than Biden As California attorney general, Kamala Harris brought lawsuits against fossil fuel companies, prosecuted a pipeline company over an oil leak and investigated Exxon Mobil Corp. for misleading the public about climate change. Now, with the vice president suddenly … Read more
Stress Engineering Services, Inc. Canada (SESC) held their first ever Calgary Stampede BBQ Lunch and Welding Demonstration on July 9th in their newly renovated offices located in Calgary, Alberta. The main attraction was Lincoln Electric’s latest welding Cobot and a wonderful BBQ lunch. SES Offices in Calgary, Alberta There was a demonstration showcasing the “Cooper … Read more
CALGARY, AB, July 23, 2024 /CNW/ – Western Energy Services Corp. (“Western” or the “Company”) (TSX: WRG) announces the release of its second quarter 2024 financial and operating results. Additional information relating to the Company, including the Company’s financial statements and management’s discussion and analysis (“MD&A”) as at June 30, 2024 and for the three and six months ended June … Read more
Better Functionality Clean and easy-to-use interface. Simple tools for complex processes: scheduling, analysis validation, etc. Robust asset details on your schematic diagrams. Sample points, associated metering, and wellheads are mapped and linked to your analysis and calibrations. Client-controlled automated compositional acceptance rules. Faster Implementation Automated import tools make implementation quicker and more efficient (bulk loading … Read more
The United States (U.S.) accounts for more than 80% of the energy consumption in North America. The energy industry – among other industries – add their fair share to this energy consumption and also contribute to global warming. These problems affect the planet and they also create additional business expenses – especially for large emitters of carbon … Read more
Canada’s oil production has remained largely stable, but the risk that wildfires pose to the industry is growing, Goldman Sachs said on Tuesday. “Rising concerns over spreading Canada wildfires have not materialized into severe production disruptions yet, with our Canada production nowcast increasing in July, in line with our expectations,” the bank said in a … Read more
The top two lawmakers on the Senate energy committee on Monday introduced long-awaited legislation to speed permitting of power transmission, mining and liquefied natural gas export projects. Senators Joe Manchin, an independent who caucuses with Democrats, and John Barrasso, a Republican, said their bill would strengthen the power grid and help keep power prices low. … Read more
ST. JOHN’S, N.L. — The owner of a refinery in Newfoundland has been charged with health and safety violations for a flash explosion at the plant in 2022 that killed a worker and injured seven others.
A news release from the Newfoundland and Labrador g…
As Stewart Muir, CEO of Resource Works, attends the annual Pacific North West Economic Region (PNWER) conference in Whistler this week, the unexpected news that President Joe Biden won’t be on the November 5 presidential ballot sent shockwaves through the policy and trade discussions. By Resource Works More News and Views From Resource Works Here … Read more
Moody’s Ratings boosts Alberta’s outlook to positive Balanced budget and spending restraint cited LETHBRIDGE, AB: The Canadian Taxpayers Federation is applauding the provincial government for its latest credit rating outlook improvement. “The province is getting this positive assessment from credit rating agencies because the government has a balanced budget and is restraining spending,” said Kris Sims, … Read more
(Reuters) – Oil prices steadied on Tuesday after falling for the past two sessions, as investors remained cautious amid expectations of plentiful supplies and weak demand, while brushing off the U.S. presidential campaign upheaval. Brent crude futures for September rose 2 cents to $82.42 a barrel by 0320 GMT. U.S. West Texas Intermediate crude for … Read more
The consultation is a response to a ‘large number of requests for guidance’ Bloomberg News Article content The Competition Bureau is seeking public comments on a new law that aims to crack down on so-called greenwashing, after major players in the oil industry complained about the Trudeau government initiative. The law known as Bill C-59, which passed in … Read more
July 22 (Reuters) – Oil pipeline operator Trans Mountain plans to borrow in the bond market to refinance some of its outstanding debt before the Canadian government eventually sells it, Bloomberg News reported on Monday, citing people familiar with the matter. The company said it had C$25.3 billion ($18.4 billion) debt as of March 31, … Read more
HOUSTON, July 22 (Reuters) – The United States’ second largest liquefied natural gas exporter Freeport LNG has resumed shipments after shutting operations ahead of Hurricane Beryl, with processing on track to reach about half its capacity on Monday, preliminary LSEG data showed. Beryl hit the Texas coast on July 8, causing damage to ports and … Read more
The crude oil market is currently tight but next year will likely be in surplus, with Brent prices declining into the mid-to-high $70s range, Morgan Stanley said.The tightness will hold for most of the third quarter, the bank said in a note dated on Friday, but equilibrium will return by the fourth quarter, “when seasonal … Read more
Bank of Canada business survey shows firms worried about taxes Investment in machinery, intellectual property lags US Bloomberg News Prime Minister Justin Trudeau’s government has turned to raising taxes on businesses to help fund Canada’s budget, adding headwinds to an economy that’s already struggling to attract investment. The landscape is a contrast with the US, which … Read more
Australia’s Woodside Energy wants to become one of the world’s largest independent producers of liquefied natural gas (LNG). In itself this is not a bad ambition. But choosing to do so by taking over a troubled U.S. LNG project is certainly a brave way of going about it. Woodside said on Monday it has agreed … Read more
A look at the day ahead in U.S. and global markets from Mike Dolan U.S. President Joe Biden’s weekend withdrawal from the White House race can hardly be seen as a big surprise, but it adds some doubts to market bets that Republican challenger Donald Trump is a shoo-in in November’s election. After a turbulent … Read more
The U.S. Federal Reserve is due to review policy next on July 30-31, when investors expect it to keep rates unchanged, though there have been indications that a cut will happen at the September meeting. News that President Biden decided on Sunday to abandon his re-election bid was not a major factor for oil markets. He has endorsed Vice … Read more
All-cash transaction provides substantial and certain value to Tellurian shareholders Offer reflects new leadership’s progress executing the company’s refreshed strategy HOUSTON–(BUSINESS WIRE)–Tellurian Inc. (“Tellurian”) (NYSE American: TELL) today announced that it has entered into a definitive agreement with subsidiaries of Woodside Energy Group Ltd (“Woodside”) (ASX: WDS) pursuant to which Woodside will acquire all the … Read more
In the dynamic field of polymer and intermediate petrochemical production, maintaining efficiency and product quality is paramount. From preventing unplanned downtime to ensuring the safety of chemical storage, optimizing production processes can lead to significant improvements in both performance and cost-efficiency. Here are five crucial strategies to optimize production: 1. Predict Maintenance of pH Sensors … Read more
Nation pitches raising $1 billion from nations, companies Country previously weighed imposing a levy based on production Azerbaijan, the host of this year’s United Nations climate summit, shelved a planned levy on fossil fuel production in favor of creating a voluntary fund with at least $1 billion for mitigation projects in developing countries. The proposed … Read more
Summary SLB, Halliburton warn of weak North America activity SLB shares up 3.4%, Halliburton shares down 4.9% North America activity to trough in H2 2024 – Halliburton CEO SLB sees strong growth in Middle East, Asia (Reuters) – Top U.S. oilfield service firms SLB and Halliburton posted higher quarterly profits on Friday helped by strong global … Read more
CALGARY — Suncor Energy Inc. filed a disclosure document last year laying out what would happen if extreme weather were to force a 10-day shutdown of its massive Base Plant oilsands mine in northern Alberta.
The document — which Suncor filed with CDP,…
CALGARY, AB, July 21, 2024 /CNW/ – MEG Energy Corp. (“MEG” or the “Corporation”) (TSX:MEG) announced today that its production levels have remained stable at its Christina Lake Regional Project facility despite the ongoing regional wildfires. The Company continues to operate with a reduced and essential workforce to ensure the safety of its employees and contractors. “Our first priority … Read more
by Jim Warren Follow those who seek the truth. Run from the man who says he’s found it. Václav Havel, first president of Czechoslovakia after the 1989 Velvet Revolution. In addition to its threat to the right of free expression, Bill C-59, stands as a threat to the free spirit of inquiry that sustains modern … Read more
CALGARY, AB, July 19, 2024 /CNW/ – SECURE is thrilled to announce that the 2024 Stampede Charity Party raised an unprecedented $1 million in donations in support of Providence and Ronald McDonald Charities of Alberta (RMHC Alberta). This monumental achievement marks a significant milestone in SECURE’s ongoing commitment to giving back to the community. Since … Read more
By Resource Works More News and Views From Resource Works Here The sudden, newfound support for LNG projects in Canada is truly remarkable. What’s all this? Green-leaning governments, federal and provincial, suddenly speaking in favour of liquefied natural gas (LNG) and other resource development? It began with British Columbia Premier David Eby telling Bloomberg News that … Read more
Republican presidential nominee seeks US energy dominance Policy pivots could foster demand and lift drilling obstacles Donald Trump on Thursday championed riches from oil drilling, casting energy development as a potential economic boon for the country.Photographer: Victor J. Blue/Bloomberg As he accepted the Republican presidential nomination Thursday night, Donald Trump led delegates at the party’s … Read more
While the strike by WestJet mechanics lasted only a few days, many Canadian air travellers faced long delays and cancelled flights. More broadly, according to the Canadian Transportation Agency, customer complaints have hit an all-time high. Yet many dissatisfied travellers likely don’t realize that Ottawa heavily contributes to their frustrations. Let’s look at the various ways … Read more
SLB and Halliburton See Strong International Oilfield Demand Companies meet or exceed earnings per share expectations Oilfield service firms are shifting into overseas markets SLB and Halliburton Co., two of the world’s biggest oilfield service providers, said they see strong international demand for crude drilling after posting earnings that met or exceeded expectations, supporting their shift into … Read more
HOUSTON, July 19 (Reuters) – Oil prices settled over $2 lower on Friday at their lowest level since mid-June as investors eyed a possible ceasefire in Gaza, while a strengthened dollar drove values down further. Brent crude prices settled down $2.48, or 2.9%, to $82.63 a barrel. U.S. West Texas Intermediate crude futures dropped $2.69, … Read more
Electricity Canada Warns of ‘Flawed’ Design and ‘severe affordability impacts’ of Liberal Steven Guilbeault’s Clean Electricity Regulations Chris Varcoe: Organization has profound concerns over the government’s engagement process with industry about the proposed regulations Article Originally Appeared in the Calgary Herald Here Chris Varcoe • Calgary Herald Why are the provinces of Alberta and Saskatchewan, along with … Read more
By Scott Disavino July 19 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for the second time in three weeks, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by two to 586 … Read more
July 19, 2024 – From slamming the Trudeau government for allegedly encroaching too far into matters of provincial jurisdiction to a lawsuit aimed at equalization reform, this week’s gathering of provincial premiers in Halifax echoed one theme: a harder line with Ottawa. New data from the non-profit Angus Reid Institute indicates it’s an approach Canadians back. … Read more
Ah summer, a season we used to meet with joy. Outdoor parties, leisurely road trips, weekends at the beach, blazing barbecues by day, blazing bonfires by night. We used to sing paeans to the season—“Summertime, and the living is easy, fish are jumping and the cotton is high.” But a strange thing has happened—the climate-obsessed … Read more
About 150,000 barrels per day (bpd) of Canadian crude were exported from the U.S. Gulf Coast in June, slightly lower than average, despite the expansion of the Trans Mountain pipeline (TMX), which pulled some barrels west to Vancouver, shipping tracking data showed. The $24.84 billion (C$34 billion) expansion started operations in May, adding 590,000 bpd … Read more
The federal government has set a GHG emissions reduction target of at least 40% below 2005 levels by 2030, equivalent to 38.5% below 2022 levels. This report examines proposed policies aimed at achieving these goals and evaluates their potential impact, aiming to address the gap left by the federal government’s lack of efforts in … Read more
Artical Originally Posted in Financial Post Here – See More Articles from the Financial Post Forecast says Canada needs to significantly accelerate the pace of installing charging infrastructure: ‘No risk of overbuilding’ Canada’s electric-vehicle transition could cost more than $300 billion by 2040 as the installation of charging infrastructure expands, upgrades to the electrical grid are made … Read more
(Reuters) – Oil prices steadied on Thursday as investors wrestled with mixed signals about crude demand, with concerns about an economic slowdown in the U.S. contending with rising expectations the Federal Reserve would soon cut interest rates. Brent futures settled at $85.11 a barrel, rising 3 cents, while U.S. West Texas Intermediate (WTI) crude fell … Read more
Russia’s oil and gas revenue in July is set to rise by 50% year on year to almost $14 billion thanks to stronger oil prices and a weaker rouble, Reuters calculations showed on Thursday. Oil and gas revenue has been the most important source of cash for the Kremlin, accounting for about a third to … Read more
Exxon Mobil’s legal bid to stop Chevron’s proposed $53 billion acquisition of Hess rests on whether the transaction would involve a change of control of Hess’ prize subsidiary in Guyana, according to people knowledgeable about the argument. The two top U.S. oil producers are in an arbitration battle over the world’s largest oil discovery in almost … Read more
Crude oil prices are swinging this week, flipping between bullish signals from the United States, the world’s biggest consumer, and bearish tones from China, the top importer. Prices are rising for a second session on Thursday, buoyed by a larger-than-expected decline in U.S. stockpiles, which slipped by 4.9 million barrels last week, massively more than … 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 39 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
CALGARY — MEG Energy Corp. has had to evacuate non-essential personnel from its Christina Lake oilsands site due to wildfires burning in northern Alberta.
The oilsands company said late Wednesday evening that the move was a precautionary one, and that…
CALGARY — A free trade arbitration tribunal has tossed out TC Energy Corp.’s claim that it is owed US$15 billion in damages as a result of U.S. President Joe Biden’s cancellation of the Keystone XL pipeline permit.
TC Energy launched a claim in 2021 u…
CALGARY, AB, July 18, 2024 /CNW/ – Tenaz Energy Corp. (“Tenaz”, “our”, “we”, or the “Company”) (TSX: TNZ) has entered into an agreement with Nederlandse Aardolie Maatschappij B.V. (“NAM”), a 50/50 joint venture between Shell PLC and ExxonMobil Corporation, to acquire all of the issued and outstanding shares of NAM Offshore B.V. (“NOBV”, or the “Acquisition”) for base consideration of €165 … Read more
CALGARY, AB, July 18, 2024 /CNW/ – CES Energy Solutions Corp. (“CES” or the “Corporation“) (TSX: CEU) (OTC: CESDF) is pleased to announce that the Toronto Stock Exchange (the “TSX“) has accepted CES’ notice of its intention to implement a normal course issuer bid (“NCIB“). The NCIB effectively renews the previous NCIB which terminated in … Read more
(Reuters) – Oil prices extended gains on Thursday, buoyed by a bigger than expected decline in crude stocks in the United States, the world’s largest oil consumer. Brent futures rose 41 cents, or 0.5%, to $85.49 a barrel by 0819 GMT and U.S. West Texas Intermediate (WTI) crude was up 69 cents, or 0.8%, at … Read more
OTTAWA — Energy Minister Jonathan Wilkinson has announced an intention to ban the installation of oil furnaces in new construction as early as 2028.
The federal government’s planned phase-out of heating oil would be paired with more financial support…
Blazes threaten more than 400,000 barrels a day of oil production Bloomberg News Wildfires in Alberta caused the evacuation of some parts of Fort McMurray in mid-May. A new bout of hot weather has inflamed fire activity in recent weeks, with more than 50 out-of-control blazes burning in the province currently. PHOTO BY AFP PHOTO / … Read more
A federal court in Alaska overturned on Tuesday night an oil and gas lease sale that had been mandated by the Biden administration’s signature climate law as part of a political compromise, on grounds that the U.S. government violated the law when holding the sale. This ruling affects a lease sale held in December 2022 … Read more
Calgary, Alberta–(Newsfile Corp. – July 17, 2024) – Tuktu Resources Ltd. (TSXV: TUK) (“Tuktu” or the “Company“) is pleased to announce the completion of the farm-in arrangement previously announced on April 17, 2024, the issuance of stock options to Tuktu’s directors and officers, and the appointment of Kathleen Dixon as the Chair of the Company’s board … Read more
CALGARY, AB, July 17, 2024 /CNW/ – MEG Energy Corp. (“MEG” or the “Corporation” (TSX: MEG) reports that the Corporation has proactively initiated a controlled evacuation of non-essential personnel from MEG’s Christina Lake Regional Project (CLRP) as a result of nearby wildfires. “Our first operating priority is to care for ourselves and all others,” said Darlene Gates, President and CEO. … Read more
DUBAI, July 16 (Reuters) – Saudi oil giant Aramco (2223.SE) has signed final agreements to buy 50% of the blue hydrogen industrial gases business of Air Products Qudra (APQ), it said on Tuesday, continuing the kingdom’s drive to become a major hydrogen producer. Financial details of the transaction for Blue Hydrogen Industrial Gases Company (BHIG) … Read more
HOUSTON, July 17 (Reuters) – U.S. imports of crude oil from Canada rose last week to its highest on record, data from the Energy Information Administration showed on Wednesday, buoyed by the startup of the newly expanded Trans Mountain (TMX) pipeline. Imports rose by 807,000 barrels per day (bpd) to 4.4 million bpd in the week … Read more
(Reuters) – Oil prices were steady on Wednesday, with global benchmark Brent hovering near the one-month low it hit in the prior session, as signs of weakening demand growth in China clashed with the prospect of declining U.S. oil stockpiles. Brent crude oil futures was down by 4 cents to $83.69 a barrel by 0315 … Read more
We are pleased to announce that DIMATE has entered into a strategic partnership with REACH ENERGY, a key player in the transformation of the energy sector based in Abu Dhabi. This collaboration fits perfectly with our commitment to shape the future of the energy sector and expand our global footprint. Sherif Ibrahim, DIMATE’s Energy Manager … Read more
EDMONTON — A major oilsands producer has been fined after hundreds of birds, wolves and coyotes were exposed to toxins at one of its tailings ponds.
The Alberta Energy Regulator has assessed a fine of $278,000 against Canadian Natural Resources Ltd.
“…
This quarter should be the tightest of the year for global crude supplies, but once the summer squeeze has passed, fundamentals look set to soften. Oil traders betting on a price rally are confronting a make-or-break moment. This quarter should be the tightest of the year for global crude supplies, as American driving demand hits … Read more
Positions span artificial intelligence specialists to more run-of-the-mill service jobs Bloomberg News Tesla Inc. is looking to hire nearly 800 new employees, three months after chief executive Elon Musk hastily ordered the largest round of layoffs in the company’s history. The roles have steadily popped up on Tesla’s careers page in recent weeks, with positions spanning artificial intelligence specialists to … Read more
CALGARY, Alberta, July 16, 2024 (GLOBE NEWSWIRE) — Calfrac Well Services Ltd. (“Calfrac”) (TSX:CFW) now intends to release its 2024 second quarter results before the market opens on Thursday, August 1, 2024, and has scheduled a conference call to begin at 10:00 A.M. MT (12:00 P.M. ET) on the same day. The second quarter results … Read more
By Valerie Volcovici (Reuters) – The Biden administration is seeking input on whether to add more areas for protection from oil and gas drilling in Alaska’s National Petroleum Reserve, the Interior Department’s Bureau of Land Management announced on Friday. The BLM will take public comment on whether to update protected areas in the Western arctic, … Read more
OTTAWA — Canada’s annual inflation rate fell to 2.7 per cent in June, with Statistics Canada largely attributing the deceleration to slower year-over-year growth in gasoline prices.
The agency reported Tuesday that gasoline prices rose 0.4 per cent in…
By Eric Onstad (Reuters) – Many companies are reluctant to invest in critical minerals and energy transition projects due to uncertainty about consumer demand for EVs and government commitment to zero-carbon goals, industry players said. The long-term picture is intact of a world needing large quantities of materials such as lithium, cobalt and copper to enable … 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 August delivery in Hardisty, Alberta, settled at $13.40 a barrel below WTI on Monday, according to brokerage CalRock, holding steady. * Exports of crude oil from ports along the U.S. Gulf … Read more
Canada has been closely watching the U.S.’ moves to impose higher tariffs against Chinese EVs, solar cells, batteries, steel and other products Bloomberg News Canada’s finance minister said she’ll hold talks next week with business and labour groups about erecting trade barriers against Chinese-made vehicles — and suggested the government may even go beyond autos. The … Read more
Asia’s crude oil imports from Canada’s newly expanded Trans Mountain pipeline will rise in September as major refiners in Japan and South Korea and a refinery in Brunei have bought their first cargoes alongside China, multiple trade sources said. The purchases come after exports commenced from the expanded TMX pipeline in May which will triple … Read more
Energy sits at the heart of Canada’s export economy, even though some federal policymakers and provincial governments appear to be discomfited by that fact. In recent years, energy has supplied 20–25 percent of Canada’s total international exports (goods plus services combined), with crude oil, refined petroleum products, and natural gas making up the lion’s share … Read more
EDMONTON — The Alberta government plans to relax a rule that requires energy companies seeking to buy viable wells from bankruptcy proceedings to first pay all the failed producer’s outstanding taxes.
“I have informed the Alberta Energy Regulator and …
Business investment is a foundational requirement for a prosperous economy. It provides the resources to establish new companies, expand existing ones, and invest in new factories, machinery, and technologies. Business investment in Canada has declined markedly for over a decade. It is a major reason why Canadian living standards are stagnating in absolute terms and … Read more
By Scott Disavino NEW YORK, July 15 (Reuters) – Oil prices eased on Monday as worries about demand in top importer China offset supportive U.S. economic news, OPEC+ supply restraint and ongoing Middle East tensions. Brent futures fell 18 cents, or 0.2%, to settle at $84.85 a barrel, while U.S. West Texas Intermediate (WTI) crude … Read more
CALGARY, Alberta, July 15, 2024 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company”) (TSX: PSK) is pleased to announce its second quarter (“Q2 2024”) operating and financial results for the three-month period ended June 30, 2024. Second Quarter Highlights: Oil royalty production volumes averaged 13,312 barrels per day, another quarterly record, and a … Read more
CALGARY, Alberta, July 15, 2024 (GLOBE NEWSWIRE) — Gibson Energy Inc. (TSX:GEI) (“Gibson” or the “Company”) announced today the extension of a long-term contract with an investment grade global E&P company at its Gateway Terminal and the sanction of a connection to the Cactus II Pipeline. The specific terms of the customer contract are confidential. … Read more
By Olesya Astakhova GROZNY, Russia, July 15 (Reuters) – Russian Deputy Prime Minister Alexander Novak said on Monday the global oil market will be balanced in the second half of the year and thereafter, thanks to the OPEC+ deal on production supply. OPEC+, which groups the Organization of the Petroleum Exporting countries and allies such … Read more
Spot premiums for Middle East crude benchmarks Oman, Dubai and Murban dipped on Monday, with trades for September-loading cargoes expected to pick up speed this week. Qatar Energy on Monday will close three tenders to sell crude for September loading with bids valid until Wednesday, traders said. The producer offered three al-Shaheen crude cargoes for … Read more
Your oil and gas company strives for more accurate land asset analysis using overlapping manual and digital processes. This can require a considerable amount of time to manage the data. Poor data management directly affects your time management and operational costs. In fact, it’s commonly reported by land teams that many high-level staff are having … Read more
Introduction: In the oil and gas industry, detecting and mitigating gas leaks is crucial to ensuring safety and operational efficiency. Traditional methods, such as catalytic bead and infrared point detectors, have been widely used but come with limitations. Ultrasonic gas leak detection offers a proven solution to enhance safety and reliability in detecting gas leaks. … Read more
After Bill C-59 received Royal Assent (June 2024), many companies, particularly oil and gas companies, removed sustainability and ESG content from corporate websites. Future communication is said to be dependent on additional guidance and clarity from the Competition Bureau. The sudden absence of information has sparked diverse interpretations among the public. Some believe this is … Read more
(Reuters) – Oil prices fell for a second day on Monday as the dollar gained ground amid political uncertainty in the U.S. following an attack on U.S. presidential candidate Donald Trump while investors eyed the progress of talks for a Gaza ceasefire. Brent crude futures fell 55 cents, or 0.7%, to $84.48 a barrel by … Read more
Town council in Ignace, between Thunder Bay and Kenora, voted in favour of it at a special meeting earlier this week The Canadian Press IGNACE, ONTARIO — A northwestern Ontario town has formally decided it is willing to become the site of a deep geological repository for Canada’s nuclear waste. The Nuclear Waste Management Organization (NWMO) plans … Read more
July 12 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the fifth time in six weeks, energy services firm Baker Hughes (BKR.O) said in its report on Friday. The oil and gas rig count, an early indicator of future output, fell by one to 584 … Read more
by Canada Powered by Women If you’ve ever visited the Butchart Gardens, a brilliant garden oasis in Victoria, B.C., you’ve likely been awed by the beauty of the lush landscape there. Did you know it was once a limestone quarry? Same goes for Cape Breton’s Cabot Links in Nova Scotia — a scenic golf course built … Read more
While Strathcona will own and operate the assets, it will evenly split the upfront capital costs with the federal Canada Growth Fund Bloomberg News Canadian driller Strathcona Resources Ltd. is planning as much as $2 billion in projects to capture carbon dioxide emissions from its oilsands operations, helped by backing from a Canadian public investment vehicle. While Strathcona will … Read more
by Jim Warren The federal government and the environmental movement tend to attribute the anti-Ottawa sentiment on the prairies to “dangerous populism” and our lack of enthusiasm for saving the planet from the climate apocalypse. Similar criticisms have been leveled in the US against populist opponents of policies deemed to be progressive, including the Biden … Read more
By Gopalakrishnan Ravichandran Article/Editing: Bruno Venditti Courtesy of Visual Capitalist – See More From Visual Capitalist HERE Visualizing Natural Gas Reserves By Country Natural gas is used to generate electricity, heat homes and buildings, and power vehicles. It is also a raw material in various industrial processes. In this graphic, creator Gopalakrishnan Ravichandran ranks natural gas … Read more
Summary U.S. consumer sentiment fell in July Producer price index rose 0.2% in June U.S. active oil rig count fell by one to 478 this week (Reuters) – Oil futures prices settled slightly lower on Friday as investors weighed weaker U.S. consumer sentiment against mounting hopes for a Federal Reserve rate cut in September. Brent … Read more
A blast of hot, dry weather across Alberta in recent days kicked up a series of new blazes across the province’s remote northern reaches Bloomberg News Robert Tuttle A view of the Parker Lake wildfire near Fort Nelson, B.C., is shown on May 13, 2024 in a BC Wildfire Service handout photo. PHOTO BY THE CANADIAN … Read more
Infrastructure advances boosted export capacity, and steady production drive a positive outlook for the second half of 2024 Calgary, July 9, 2024 – The combination of infrastructure advancements, increased export capacity, and steady production growth is setting a positive tone in the oil and gas markets for the second half of 2024, according to the latest … Read more
A new federal law—Bill C-59, which received royal assent last month—has Canada’s oil and gas industry and the premiers of oil and gas provinces up in arms. Specifically, in legalese, it allows government or outside litigants to review a “representation to the public in the form of a statement, warranty or guarantee of a product’s … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) traded flat on Friday: * WCS for August delivery in Hardisty, Alberta, settled at $13.65 a barrel below WTI on Friday, according to brokerage CalRock, holding steady. * Refineries along the U.S. Gulf Coast, which process Canadian … Read more
Summary Companies invest in downstream gas assets in Asia Japanese firms build gas markets to help sell excess LNG LNG seen as transitional fuel in move to renewables Activist investors raise alarm TOKYO, July 12 (Reuters) – Japanese companies foreseeing a growing surplus in stocks of liquefied natural gas (LNG) as their demand for the … Read more
(Reuters) – Brent crude oil has been trading in a tight range of $75-$90 a barrel since late 2022 as OPEC+ cuts keep a floor under prices while sizeable spare capacity, demand uncertainty and sanctions policy prevent the market breaking higher. After a series of gradual production increases that started in early 2021 which unwound historic cuts … Read more
(Reuters) – Oil prices rose on Friday amid signs of easing inflationary pressures in the United States, the world’s biggest oil consumer, though Brent crude was still set for a weekly decline. Brent crude futures were up 52 cents, or 0.6%, to $85.92 a barrel at 1051 GMT. U.S. West Texas Intermediate crude futures were … Read more
(Reuters) – Shell has replaced liquefied natural gas (LNG) volume it lost after exiting Russia in 2022 with a string of deals that underpin CEO Wael Sawan’s bet on growing demand for the fuel as he reduces the focus on renewable energy. The new projects in the United Arab Emirates and Trinidad and Tobago and the acquisition … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Thursday: * WCS for August delivery in Hardisty, Alberta, settled at $13.65 a barrel below WTI on Thursday, according to brokerage CalRock, widening by 15 cents a barrel on the day below WTI. * Refineries … Read more
By Ben Eisen and Joel Emes British Columbia’s provincial government finances have deteriorated rapidly in recent years. With large deficits and rapid debt accumulation forecasted in the years ahead, British Columbia is on track to become a high-debt province. This transformation in the health of BC’s finances has been the result of a fundamental shift … Read more
By Irina Slav More From Irina Slav Hello everyone and welcome to this year’s Energy Looney Bin Awards. It’s the first but certainly won’t be the last edition of the awards, what with so many hard-working hopefuls in the most intense race in the world. Without further ado and in no particular order, here are … Read more
Three-quarters of the Struggling support a cut in gasoline taxes, 53 per cent of the Thriving oppose it July 11, 2024 – When summer comes in Canada, two things are guaranteed to rise – the temperature and the price of gas. New data from the non-profit Angus Reid Institute finds considerable support for an idea that would … Read more
Canada’s Unifor union on Wednesday said its members at Shell’s Scotford refinery in Alberta, Canada, have ratified a new four-year agreement that includes a 16% wage increase. The agreement averts a possible strike at the facility after members voted overwhelmingly in favour of it in late June. The agreement includes the possibility of additional wage … Read more
CALGARY, AB, July 10, 2024 /CNW/ – Strathcona Resources Ltd. (“Strathcona” or the “Company”) (TSX: SCR) today announced a strategic partnership with Canada Growth Fund (“CGF”), a $15 billion arm’s-length public investment vehicle, for the development of carbon capture and sequestration (CCS) infrastructure on Strathcona’s steam-assisted gravity drainage (SAGD) oil sands facilities across Saskatchewan and Alberta. Under the terms of the arrangement, CGF will invest up … Read more
By Robert Harvey (Reuters) – Oil prices were stable on Thursday with the Brent benchmark holding above $85 a barrel, as investors balanced a bleaker demand growth view from the International Energy Agency (IEA) with a indications of growing U.S. consumption. Brent futures were up by 21 cents, or 0.25% to $85.29 a barrel by 0938 … Read more
Investment in low-carbon energy has soared 50 per cent since 2019 to reach roughly US$1.9 trillion last year Bloomberg News The world is shifting too slowly from fossil fuels to avoid severe climate change, increasing the risks that the eventual transition to clean energy will be “disorderly,” BP Plc warned. Fossil fuel consumption broke records last year, led … 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 39 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
OTTAWA, ON: The Canadian Taxpayers Federation released Leger polling showing 54 per cent of Canadians want the federal government to cut spending instead of hiking capital gains taxes to reduce the deficit. “The poll results are clear: a solid majority of Canadians want the government to cut spending instead of hiking capital gains taxes,” said Franco Terrazzano, CTF … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Wednesday: * WCS for August delivery in Hardisty, Alberta, settled at $13.50 a barrel below WTI on Wednesday, according to brokerage CalRock, narrowing by 10 cents a barrel on the day below WTI. * Refineries … Read more
Calgary, Alberta–(Newsfile Corp. – July 10, 2024) – Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) (“Greenfire” or the “Company”), a Calgary-based energy company focused on the production and development of thermal energy resources from the Athabasca region of Alberta, Canada, is pleased to announce the redemption of approximately US$61 million of the Company’s US$300 million senior … Read more
By George Clooney Mr. Clooney is an actor, director and film producer. I Love Joe Biden. But We Need a New Nominee. I’m a lifelong Democrat; I make no apologies for that. I’m proud of what my party represents and what it stands for. As part of my participation in the democratic process and in support … Read more
Shell, Total, BP acquire 10% stakes in Ruwais site; Mitsui too Two of the firms also agree to take shipments from the project Bloomberg News Four international companies signed up to invest in Abu Dhabi National Oil Co.’s next liquefied natural gas export project on a bet that demand for the fuel will continue to climb. Shell … Read more
(Reuters) – Portfolio investors had reverted to a broadly neutral position in petroleum last week after heavy selling triggered by the OPEC+ meeting at the start of June waned and buying took over. Hedge funds and other money managers purchased the equivalent of 56 million barrels in the six most important futures and options and … Read more
(Reuters) – Oil prices rose on Wednesday on expectations that U.S. crude and gasoline inventories fell last week, but further gains were limited by the restart of output in the U.S. Gulf as the threat from Hurricane Beryl faded and slack Chinese consumer demand. Brent futures were up 19 cents, or 0.2%, at $84.85 a … Read more
CALGARY, AB, July 9, 2024 /CNW/ – Westgate Energy Inc. (“Westgate” or the “Company“) (TSXV: WGT), a high-growth junior exploration and production company targeting untapped Mannville Stack medium and heavy oil resources in East-Central Alberta and West Central Saskatchewan, announces the commencement of the initial portion of its second half 2024 (“2H/24“) drilling campaign. This summer program (the … Read more
CALGARY, AB, July 9, 2024 /CNW/ – Entropy Inc. (“Entropy” or the “Corporation”), a subsidiary of Advantage Energy Ltd. (“Advantage”), is pleased to provide a corporate update including the recent final investment decision (“FID”) at Glacier Phase 2 and Entropy’s first investment into the clean power generation market. Glacier Phase 2 Investment Details Entropy is pleased to announce FID of … Read more
Global oil demand will outpace supply next year, the U.S. Energy Information Administration said on Tuesday, reversing a prior forecast for a surplus. The change came after OPEC and its allies, collectively known as OPEC+, extended most of their deep oil output cuts into next year at a meeting last month. The producer group has … Read more
CALGARY, AB, July 9, 2024 /CNW/ – Advantage Energy Ltd. (“Advantage” or the “Corporation”), is pleased to provide updated guidance(a) for 2024 and an updated outlook(a) for 2025. Highlights of 2024 include: At Glacier, our gas-focused program has been reduced to 13 wells (previously 18), in response to continued outperformance of our recent wells and to avoid increasing supply while 2024 gas … Read more
Wildfires raging in Alberta triggered an immediate evacuation order and fire restrictions in two forest areas, the province’s wildfire agency said on Tuesday. The Fort Nelson First Nation ordered an immediate evacuation for the IR#3 Kahntah Reserve, British Columbia authorities said. “Anyone in the affected area must leave immediately,” they said in the statement. Fire … Read more
TORONTO — A shareholder advocacy group is calling out Canada’s property insurers for their support of the fossil fuel industry while also raising premiums because of climate-related disasters.
Investors for Paris Compliance says in a report out Wednes…
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) was steady on the day on Tuesday, ending three consecutive days of narrowing: * WCS for August delivery in Hardisty, Alberta, settled at $13.60 a barrel below WTI, according to brokerage CalRock, having also closed at $13.60 … Read more
Eby says there’s eco-friendly path to LNG Canada expansion Hydrogen and EV battery recycling proposals also in works British Columbia Premier David Eby sees a way for his province to exploit its abundant resources and proximity to Asia — without sacrificing environmental pledges core to his political platform. In an interview with Bloomberg, Eby said he’s optimistic … Read more
This article was published by The Toronto Sun on July 3, 2024 and is available for reprint. To arrange interviews, please contact Jay Goldberg at [email protected] or 416-567-5576. Prime Minister Justin Trudeau managed to do two terrible things in one fell swoop: raise costs for Canadians at a time they can least afford it and risk a … Read more
CALGARY — Entropy Inc. says it has made a final investment decision to go ahead with its second carbon capture and storage project.
The Alberta-based company says the project will capture emissions from parent company Advantage Energy’s Glacier Gas Pl…
Shares of Canadian companies that mine critical minerals such as copper and uranium fell on the Toronto Stock Exchange (TSX)on Monday as investors assessed the potential impact of Canada’s announcement last week that it would restrict large mergers and acquisitions in the sector. Last Thursday, Industry Minister Francois-Philippe Champagne cleared London-listed Glencore’s takeover of the … Read more
Storm left 85% of city without power, including mayor’s house Residents told to stay home after three deaths are reported Bloomberg The majority of Houston remained without power in Tropical Storm Beryl’s wake, and authorities warned the blackout could last days even as heat builds across the battered region. Beryl left the nation’s fourth-largest city … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened slightly, for the third consecutive session on Monday: * WCS for August delivery in Hardisty, Alberta, settled at $13.60 a barrel below WTI, according to brokerage CalRock, having closed at $13.75 a barrel below WTI on … Read more
Engineers relied on analog methods until the arrival of commercial computers in the 1970s, which had sufficient capacity and an affordable price to begin the digital transformation. Here’s a summary of the history of engineering tools that every energy engineer relies on. Engineering 1.0 era – pre-history to 1760 Early engineering relied on simple tools: … Read more
In a recent Globe and Mail column, UBC Professor Kevin Milligan said the federal government’s recent capital gains tax increase will not make much of a difference to Canada’s economic wellbeing. But this view ignores the obvious negative consequences of the tax increase. In its latest budget tabled in April, the Trudeau government increased taxes on capital gains for … Read more
Canadian companies and Indigenous communities are collaborating to turn ideas into solutions that will benefit Canada and the world KITIMAAT VILLAGE, BC, July 8, 2024 /CNW/ – The Government of Canada is committed to building a clean and prosperous economy, with people at the centre. Canada has a long history of being a global supplier … Read more
Canadian pipeline operator Wolf Midstream Canada LP is preparing a C$600 million ($440 million) bond sale this week and plans to set up a revolving credit facility. The debt will mature in five years, with options for Wolf to buy it back after two, according to documents seen by Bloomberg. Marketing will take place through July … Read more
Canada’s Cenovus Energy said on Monday it is demobilizing some staff at its Sunrise oil sands project in northern Alberta as a precaution due to the evolving wildfire situation in the area. The Sunrise site lies about 60 kilometres northeast of the oil sands hub of Fort McMurray and produced about 48,900 barrels per day … Read more
(Reuters) – Oil prices were little changed early on Tuesday after a hurricane that hit a key U.S. oil producing hub in Texas caused less damage than expected. Brent futures fell 4 cents to $85.71 a barrel by 0113 GMT, while U.S. West Texas Intermediate (WTI) crude fell 5 cents to $82.28. Although oil refining … Read more
IRVING, Texas–(BUSINESS WIRE)–#FluorBuildsABetterWorld—Fluor Corporation (NYSE: FLR) is pleased to announce completion of the final weld on the first production train at the LNG Canada project, in Kitimat, British Columbia, Canada. This marks a pivotal moment in the construction of one of the largest energy projects in Canadian history. The final weld took 48 hours of continuous … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened slightly, for the third consecutive session on Monday: * WCS for August delivery in Hardisty, Alberta, settled at $13.60 a barrel below WTI, according to brokerage CalRock, having closed at $13.75 a barrel below WTI on … Read more
Purported approval of land use plan under 2023 Implementation Agreement disputed Notice of Civil Claim (NOCC) File Number: S-244500 BLUEBERRY RIVER FIRST NATIONS, BC, July 8, 2024 /CNW/ – Blueberry River First Nations (Blueberry) has filed a Notice of Civil Claim (NOCC) against the Province of British Columbia (the Province) in order to protect Blueberry’s Treaty rights and enforce the … Read more
Malaysian state energy firm Petroliam Nasional Berhad (Petronas) on Monday said it would add three energy-efficient liquefied natural gas (LNG) vessels to its North American operations. The addition of the vessels, which brings the total number in Petronas’ fleet in North America to six, comes ahead of the start-up of LNG Canada’s gas-export facility due … Read more
CALGARY, Alberta, July 08, 2024 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. … Read more
You can automatically start the Canadian Taxpayers Federation’s 2024 Summer Survey by clicking your answer to the first question. Is Canada going in the right direction or wrong direction? Please click on your answer. Right direction Wrong direction Unsure The 2024 Summer Survey will only take you about 10 minutes (it’s shorter than the big … Read more
CALGARY — Federal Natural Resources Minister Jonathan Wilkinson says he expects between 20 and 25 commercial-scale carbon capture and storage projects to break ground in Canada within the next decade.
Wilkinson made the comments in an interview in Cal…
Summary Hurricane Beryl makes landfall near Texas Iranian voters pick moderate Masoud Pezeshkian as president French election to leave parliament divided July 8 (Reuters) – Oil prices fell 1% on Monday after gaining for four weeks as supply disruption worries eased on hopes of a ceasefire deal in Gaza, but the potential impact of Hurricane … Read more
By Tegan Hill and Jake Fuss According to a new Leger poll, a significant percentage of Gen Z and millennial Canadians don’t believe that billions of dollars in government subsidies to build electric vehicle (EV) plants—including $5 billion to Honda, $13.2 billion to Volkswagen and $15 billion to Stellantis—will benefit them. And based on a large … Read more
Overview: In the oil and gas industry, keeping solids in suspension while blending various grades of crude oil for proper processing poses significant operational challenges. Traditional methods often require substantial energy inputs, complex equipment, and regular access to the tank for maintenance. However, the utilization of eductors has emerged as a cost-effective and efficient solution. … Read more
Canada on Thursday put the mining industry on notice that any major deals targeting the country’s producers of critical minerals would only be approved under “the most exceptional circumstances”. The announcement by Industry Minister Francois-Philippe Champagne came as he imposed strict conditions with the approval of Glencore’s $6.93 billion acquisition of Teck Resources’ steelmaking coal … Read more
Shell, Total, BP and Mitsui will each take 10% stake Ruwais will raise the UAE’s export capacity to 15.4m tons/year Four international companies have agreed to invest in Abu Dhabi National Oil Co.’s next liquefied natural gas export project, according to people with knowledge of the matter. Shell Plc, TotalEnergies SE, BP Plc and Mitsui & Co. will each take a … Read more
A wildfire in northern Alberta that forced Suncor Energy to shut in some oil sands production has not moved closer to any infrastructure, Alberta’s wildfire agency said on Friday, although it added that crews expect another challenging day. Suncor, Canada’s second-largest oil company, temporarily curtailed some production and evacuated non-essential workers from its 215,000 barrel-per-day … Read more
Growth generated by TMX highlights BC’s economic struggles. The recent completion of the Trans Mountain (TMX) pipeline expansion was celebrated as a success, for both Canada’s energy sector, and as a boost to the Canadian economy. However, the forecast that the TMX pipeline will contribute more to Canada’s growth (0.25 percentage points) than the entire … Read more
By Steven Globerman Despite growing skepticism among investors, as evidenced by their withdrawal of billions of dollars from ESG equity funds so far in 2024, many finance industry leaders continue to claim that ESG-focused investing produces above-average returns. But is that true? Environmental, social and governance (ESG) is a movement designed to pressure businesses and investors to … Read more
(Reuters) – Oil prices settled lower on Friday as the rising possibility of a ceasefire deal in Gaza outweighed strong summer fuel demand and potential supply disruptions from Gulf of Mexico hurricanes. Brent crude futures settled down 89 cents, or 1.02% lower, to $86.54 a barrel, after reaching their highest since April earlier in the … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened for a second consecutive day on Friday: * WCS for August delivery in Hardisty, Alberta, settled at $13.75 a barrel below WTI, according to brokerage CalRock, having closed at $14.60 a barrel below WTI on Thursday. … Read more
July 5 (Reuters) -U.S. energy firms this week added oil and natural gas rigs for the first time in seven weeks, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by four to 585in the week to … Read more
Saskatchewan stopped paying the carbon levy on natural gas, after Prime Minister Justin Trudeau exempted home-heating oil users from paying The Canadian Press Justice Minister and Attorney General Bronwyn Eyre attends a joint funding announcement between the provincial government, University of Saskatchewan and Legal Aid Saskatchewan at the College of Law on April 1, 2024. PHOTO … Read more
Calgary, Alberta–(Newsfile Corp. – July 5, 2024) – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) is providing an operations update and changes to its 2024 guidance. Due to the current higher than average natural gas storage inventories in both the United States and Canada, current natural gas prices have been weak at North … Read more
(Reuters) – Oil prices were little changed on Friday, trading near their highest since late April and on track for a fourth straight week of gains, driven by hopes of strong summer fuel demand and some supply concerns. Brent crude futures was up 11 cents, or 0.13%, at $87.54 a barrel by 0817 GMT. U.S. … Read more
Electrical pylons and power lines are seen in Yanqing district of Beijing, China December 17, 2021. REUTERS/Tingshu Wang/File Photo By John Kemp LONDON, July 4 (Reuters) – China’s record-breaking deployment of wind and solar capacity has worsened regional power imbalances, forcing the country to idle increasing amounts of renewable generation when it overwhelms local consumption. New … Read more
Wind turbines are seen in a windfarm near Radenac in Brittany, France, October 3, 2017. REUTERS/Stephane Mahe/File Photo By Kate Abnett BRUSSELS, July 5 (Reuters) – Hundreds of gigawatts of wind energy projects are waiting for permits to connect to Europe’s power grid, a backlog that threatens to slow the shift to green energy, industry association … Read more
$10 Million from PrairiesCan to accelerate the creation of commercial carbon fibre CALGARY, Alberta, July 04, 2024 (GLOBE NEWSWIRE) — Alberta Innovates has received $10 million from the Regional Innovation Ecosystems (RIE) program administered by Prairies Economic Development Canada (PrairiesCan). The funding will allow Alberta Innovates to establish a specialized production and testing facility to commercialize technologies that convert Alberta-sourced bitumen … Read more
The following is an update to the second quarter 2024 outlook and gives an overview of our current expectations for the second quarter. Outlooks presented may vary from the actual second quarter 2024 results and are subject to finalisation of those results, which are scheduled to be published on August 1, 2024. Unless otherwise indicated, … Read more
In recent years, the popularity of induction heating equipment has surged, thanks to its availability and efficiency. Induction heating can rapidly heat materials, making it ideal for High Temperature (>1400F) heat-treat cycles or removing couplings from turbines. However, when it comes to pre-heating for welding, Field Heat Treatment Technicians still prefer electrical resistance 99% of … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Thursday: * WCS for August delivery in Hardisty, Alberta, settled at $14.60 a barrel below WTI, according to brokerage CalRock, having closed at $15.55 a barrel below WTI on Wednesday. * Out-of-control wildfires in the … Read more
CALGARY — A wildfire burning out of control in northern Alberta on Thursday prompted Suncor Energy Inc. to withdraw all non-essential workers from its Firebag oilsands site.
The company, Canada’s second-largest oilsands producer by volume, confirmed T…
GATINEAU, Que. – The Competition Bureau says it will speed the development of guidance on the interpretation of new provisions in the Competition Act aimed at greenwashing. The federal watchdog says it has received a large number of requests and that it will develop guidance “on an accelerated basis” The amendments to the Competition Act … 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 39 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
Suncor Energy has shut down its 215,000 barrel-per-day (bpd) Firebag oil sands project in northern Alberta as a precaution due to a wildfire burning about eight kilometres away, an Alberta government minister said in a social media post on Thursday. Suncor, Canada’s second-largest oil producer, did not immediately respond to a request for comment. Alberta’s … Read more
Trudeau missing Calgary Stampede this summer, his only absence outside COVID-19 years 10-day festival usually viewed as a must-do event for politicians of all stripes Prime Minister Justin Trudeau, centre, cooks pancakes as he attends a Stampede pancake breakfast in Calgary last year. His office confirmed Tuesday that he will not be in attendance this … Read more
East coast markets face challenge, independent inquiry says Report calls for increase in domestic production and supplies Australia, one of the world’s largest liquefied natural gas shippers, faces a shortage within a little more than two years, according to an independent inquiry, which urged a boost to production to meet the challenge of rising demand. … Read more
CALGARY, Alberta, July 04, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (“Prospera” or the “Corporation“) (TSX.V: PEI, OTC: GXRFF, FRA: OF6B, OF6B.SG, OF6B.BE) Prospera is pleased to announce the 2024 development drilling program commencing in mid-July. The initial focus will be on multi-pad medium-oil infill directional wells based on 2023 positive drilling results. The 2023 … Read more
MONTREAL — Northvolt AB says it will continue construction of a $7-billion factory on Montreal’s South Shore “as planned” — hours after its CEO said the Swedish battery manufacturer would hit the brakes on its international development plan to refocus on its plant back home.The company has two massive plants in the works — one in Canada and the … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) was steady on Wednesday amid subdued trading ahead of the U.S. Independence Day holiday: * WCS for August delivery in Hardisty, Alberta, settled at $15.55 a barrel below WTI, according to brokerage CalRock, flat on the day. … Read more
Ottawa has published options it will consider for deterring Chinese-made electric vehicles from accessing the Canadian market Bloomberg News YD electric cars are parked before loading on a ship at the international container terminal of Taicang Port at Suzhou Port, in China’s eastern Jiangsu Province. PHOTO BY GETTY IMAGES Prime Minister Justin Trudeau’s government has published … Read more
By Resource Works More News and Views From Resource Works Here Ottawa’s Commitment to 30 percent Indigenous Stake in Trans Mountain Pipeline Still Awaiting Confirmation. Indigenous leaders in Western Canada have been waiting for months for confirmation that the federal government will indeed enable Indigenous Peoples to get a 30 percent share in the Trans … Read more
Credit Facility Update Highwood Asset Management Ltd. (“Highwood” or the “Company“) (TSXV: HAM) is pleased to announce that the annual borrowing base redetermination of the Company’s credit facility has been completed. As a result of its successful drilling program that delivered significant PDP reserves growth, the borrowing base has been increased from $100 million to $110 million, comprised of … Read more
CALGARY, AB, July 3, 2024 /CNW/ – ACT Energy Technologies Ltd. (TSX: ACX) (“ACT” or the “Company“) is pleased to confirm that it has filed articles of amendment to implement the previously announced name change from “Cathedral Energy Services Ltd.” to “ACT Energy Technologies Ltd.”, and the share consolidation of the Company’s common shares on the basis of … Read more
CALGARY, AB, July 3, 2024 /CNW/ – Cathedral Energy Services Ltd. (TSX: CET) (“Cathedral” or the “Company“) announces that, further to its press release dated June 27, 2024, the Company’s common shares are expected to continue to trade on the TSX on an unconsolidated basis under the Cathedral name and symbol “CET” until the close … Read more
CALGARY, Alberta, July 03, 2024 (GLOBE NEWSWIRE) — PrairieSky will release its Q2 2024 results on Monday, July 15, 2024 after markets close. The news release detailing PrairieSky’s Q2 2024 results will provide operating and financial information. Financial statements along with management’s discussion and analysis will be available on PrairieSky’s website at www.prairiesky.com and on … Read more
CALGARY – Eleven clean energy projects, most of which are based in Alberta, have been selected to receive a total of $11 million in federal funding. Natural Resources Minister Jonathan Wilkinson made the announcement in Calgary where he is attending a conference with provincial and territorial ministers. Of the funding, $2.5 million will go to … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Tuesday: • WCS for July delivery in Hardisty, Alberta, settled at $15.55 a barrel below the WTI, according to brokerage CalRock, having settled at $14.05 a barrel under the benchmark on Friday. • WCS differentials … Read more
CALGARY, AB, July 2, 2024 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to announce a 50% working interest sale of our Musreau 05-09 facility (the “Musreau Facility”) to Topaz Energy Corp (“Topaz”) for gross proceeds of $100 million. Whitecap also announces a strategic infrastructure partnership with Pembina Gas Infrastructure (“PGI”) which includes a 50% working interest … Read more
(Reuters) – Oil prices steadied on Wednesday after trading higher as industry data showed a bigger-than-expected draw in U.S. crude stockpiles, with gains capped by economic headwinds from China and the euro zone. Brent crude futures inched up 7 cents, or 0.08%, to $86.31 per barrel at 0925 GMT. U.S. West Texas Intermediate crude futures … 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. If you are involved in geosciences or the energy industry, becoming a member of CEGA offers a myriad of benefits that can significantly enhance your career and professional … Read more
Canada’s oil and gas sector contributes to about 40% of the country’s methane emissions, making methane regulations an urgent opportunity and policy priority. Recently, in accordance with Canada’s 2030 Emissions Reduction Plan, the federal government published draft amendments supporting the country’s goal to reduce the oil and gas sector’s methane emissions 75% from 2012 levels … Read more
Buffalo Inspection Services (BIS) and Enoch Construction LTD. (ECL) are very pleased to announce their recent partnership and long-term business relationship. Enoch Cree Nation is 20 square miles located just West of, and adjacent to, the City of Edmonton, on Highway 60. Enoch Cree Nation entered into Treaty on September 25, 1877 and is a … Read more
As technology continues to transform the Oil & Gas industry, the transition from paper-based processes to digital systems is a logical and beneficial step for job site safety processes. One area that stands to gain significantly from this shift is job safety assessments (JSAs). Traditionally, JSAs have been conducted using paper forms, a method that, … Read more
By Leonard Herchen & Yuchen Wang Overview: Over the last quarter, oil prices have experienced significant fluctuations. WTI surged above $80, nearly reaching $85, before stabilizing around $78. This volatility has been driven by a mix of supply chain adjustments, geopolitical tensions, and shifts in demand patterns. In the natural gas market, Henry Hub prices … Read more
By Ben Eisen Canadians can be proud to live in a country with a history of peace and progress and much potential. But we can’t ignore Canada’s recent dismal economic performance and the financial pressures—driven by stagnating income growth—on households. An important and broad measure of economic growth is gross domestic product (GDP), and per-person … Read more
Ripple effect from EV slump spreading to battery makers and material suppliers Bloomberg News Northvolt AB may slow its battery projects, the latest in a line of industry reassessments after the transition to electric cars cooled. The Swedish manufacturer could push out the ramp-up timelines at its four major sites, chief executive Peter Carlsson said Tuesday. … Read more
(Reuters) – About 20 ships loaded crude oil on Canada’s West Coast in the first full month of operation on the newly expanded Trans Mountain pipeline, according to vessel-tracking data on Sunday, slightly below the operator’s forecast. Loadings from the pipeline expansion are closely watched because the Canadian government wants to sell the $24.84 billion … Read more
By Alex Epstein I often travel to give speeches about my work to energy companies, university students, non-profit organizations, and a variety of other audiences. Since these speeches often include a Q&A, I thought it would be fun to compile some of the most interesting questions I’ve been asked recently—along with my answers. What follows … Read more
SURREY, B.C. — FortisBC says it has become the first utility in North America to automatically designate a portion of its residential customers’ natural gas use to renewable natural gas, or RNG.
As of July 1, all FortisBC’s residential customers will …
All financial figures are approximate and in Canadian dollars unless otherwise noted CALGARY, Alberta–(BUSINESS WIRE)–Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) is pleased to announce that Pembina Gas Infrastructure Inc. (“PGI”), a premier gas processing entity in Western Canada jointly owned by Pembina and KKR, has entered into a purchase and sale agreement … Read more
CALGARY, AB, July 2, 2024 /CNW/ – Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company”) is pleased to announce the completion of the acquisition of a 50% non-operated working interest in Whitecap Resources Inc.’s (“Whitecap”) newly commissioned natural gas and condensate facility, located in the Musreau area of the Alberta Montney (the “Facility”), for total cash consideration of $100.0 million … Read more
CALGARY, AB, July 2, 2024 /CNW/ – Wolf Midstream (Wolf) is pleased to announce a positive final investment decision to proceed with its NGL North Phase Two project, which will significantly increase the natural gas liquids (NGL) production capacity of Wolf’s existing NGL North System (NGL North), which was successfully commissioned in 2023. Once completed, the expanded system … Read more
CALGARY, Alberta, July 02, 2024 (GLOBE NEWSWIRE) — Gibson Energy Inc. (“Gibson” or the “Company”) is pleased to announce today its Board of Directors has unanimously appointed Curtis Philippon as the Company’s new President and Chief Executive Officer, effective August 29, 2024. Mr. Philippon brings over 20 years’ experience in the North American energy sector in … Read more
CALGARY — Gibson Energy Inc. says veteran energy executive Curtis Philippon has been named as the company’s next president and chief executive.
He will begin the job effective Aug. 29.
Philippon replaces Steve Spaulding, who announced in February that…
(Reuters) – Oil prices extended gains to two-month highs on Tuesday on expectations of rising demand during the summer driving season and possible supply disruptions from Hurricane Beryl. Brent crude futures rose 70 cents, or 0.81%, to $87.30 a barrel by 1035 GMT, their highest since April 30. U.S. West Texas Intermediate (WTI) crude was … Read more
Calgary, Alberta–(Newsfile Corp. – July 2, 2024) – Coelacanth Energy Inc. (TSXV: CEI) (“Coelacanth” or the “Company“) announces that it has received all regulatory approvals to construct infrastructure for its Two Rivers East Project and has finalized its previously announced processing agreement with NorthRiver Midstream Inc. (“NRM”). TWO RIVERS EAST PROJECT The Company has obtained all regulatory approvals … Read more
A federal judge on Monday blocked the U.S. government’s ban on approving applications to export liquefied natural gas (LNG), in response to a lawsuit by Republican-led states. U.S. District Judge James Cain Jr, in Louisiana, a Trump appointee, ruled that the LNG export ban “be stayed in its entirety, effective immediately.” A coalition of 16 … Read more
Investors purchased petroleum for the third week running as bearishness triggered by the OPEC+ meeting at the start of June waned and fund managers anticipated a big depletion of inventories in the third quarter. Hedge funds and other money managers purchased the equivalent of 86 million barrels in the six major petroleum futures and options … Read more
(Reuters) – China is setting up a new entity that groups national oil producers and other state firms to search for ultra-deep oil and gas reserves and tackle harder-to-extract non-conventional resources, state energy group CNPC said on Monday. This is in answer to President Xi Jinping’s call for the sector to have “new productive forces” … Read more
We Canadians should pause to reflect on what we have not experienced, what we have been spared, compared with less fortunate nations Rex Murphy Orifginally Published Jul 01, 2022 in the National Post – Original Article HERE Despite everything we see as messy or wrong, the vast majority of Canadians believe in their country, writes … Read more
July 1 (Reuters) – Oil prices rose on Monday, helped by expected peak summer consumption and OPEC+ production cuts, though gains were capped by rising output from other producers and the potential for economic volatility resulting from a changing political landscape. Brent crude futures rose 54 cents, or 0.64%, to $85.55 a barrel by 1105 … Read more
By Bev Dahlby British Columbia’s Provincial Sales Tax harms business competitiveness and investment by taxing some businesses inputs, especially machinery and equipment, distorting consumer choices by taxing most goods but relatively few consumer services, and imposing high compliance burdens on firms because of its complexity. As a result of the Provincial Sales Tax, British Columbia … Read more
The Canadian energy industry faces numerous challenges related to water content management, particularly in processes such as bioethanol production, chemical manufacturing, and the use of solvents in various industrial applications. Ensuring optimal water content is critical for maintaining efficiency, meeting regulatory standards, and protecting equipment. The presence of excess moisture in alcohol and other solvents … Read more
Securing Alberta’s Oil & Gas Industry Access control? In the middle of nowhere? You might be wondering why you’ve reached a manned security gate stationed on a remote road deep into the Alberta Wilderness . . . Introduction Alberta stands as the cornerstone of Canada’s energy sector, playing a vital role in powering the nation … Read more
Your oil and gas company strives for financial clarity using overlapping manual and digital processes. This can require a considerable amount of time to manage the data. Poor data management directly affects your time management and operational costs. In fact, it’s commonly reported by financial teams that many high-level staff are having to spend at … Read more
Everything you ever wanted to know about utilizing modern downhole monitoring technologies to optimize the development of shale plays. Real-time downhole data is transforming the way energy companies develop complex reservoirs. The accuracy and resolution of pressure, temperature, and acoustic data is providing crucial insights and allowing reservoir and production engineers to better optimize their … Read more
Calgary, Alberta – June 26, 2024 – Enserva issued the following statement regarding the recent passing of Bill C-59 Enserva and its members strongly oppose the Competition Act amendments related to environmental benefits, which were hastily added to omnibus Bill C-59. These changes severely restrict freedom of expression and open debate in Canada, silencing debate … Read more
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