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Electric Shock: Odds Rise that Quebec EV Maker Lion Electric Will Need to Seek Creditor Protection

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Deadline to meet its loan obligations is November 30. Bloomberg News Lion Electric chief executive Marc Bedard poses next to a battery at the inauguration of the first battery manufacturing plant for medium and heavy vehicles in Quebec at Lion Electric in Mirabel, Que., Monday, April 17, 2023. Photo by Graham Hughes/The Canadian Press Canada’s electric … Read more

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Oil Settles Down as Ease of Supply Risks Drives Weekly Loss

Summary U.S. crude stockpiles fell more than expected this week Analysts cite outlook for looser 2025 supply and demand balance OPEC+ shifts meeting to Dec. 5, could further delay output hike (Reuters) – Oil prices edged lower on Friday and posted a weekly decline of more than 3%, pressured by easing concern over supply risks … Read more

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Trudeau Visits Florida to Meet With Trump Amid Tariff Threat

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Canadian Prime Minister Justin Trudeau visited Donald Trump’s Florida resort on Friday to meet with the U.S. President-elect, days after Trump threatened to slap tariffs on Canadian imports over border-related concerns.Trudeau, whose public itinerary did not list a scheduled visit to Florida, was seen leaving a hotel in West Palm Beach, Florida, to go to … Read more

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Jack Mintz: With Trump’s Tariff Threat, We’re Reaping What We Have Sown

Either we believe in free trade or we don’t. If we push our own protectionist policies how can we lecture the U.S. for responding in kind? Jack M. Mintz Donald Trump is using the threat of a 25 per cent tariff to bludgeon Canada and Mexico into taking action to halt to the flow of … Read more

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CAOEC Releases Their 2024/25 Drilling and Service Rig Forecast and 2024 State of the Industry Report

Canadian Association Of Energy Contractors

The Canadian Association of Energy Contractors (CAOEC) sees pockets of optimism in next year’s drilling and service rig forecast, but competitiveness concerns remain. Highest levels of drilling activity and associated jobs since 2015 Projected 2025 wells drilled: 6,604 – an increase of 448 (7.3%) from 2024 (6,156) Projected 2025 drilling operating days: 69,344 – an … Read more

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Mexico’s Sheinbaum Says Government is Prepared for Possible US Crude Tariff

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(Reuters) – Mexico’s President Claudia Sheinbaum said on Friday her administration had a plan to deal with the possible imposition of U.S. tariffs on Mexican crude oil, after President-elect Donald Trump threatened a blanket 25% import tax this week. “If it were to happen by all means we have a plan, but ideally it would … Read more

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Oil Heads for 3% Weekly Decline as Supply Risks Ease

Oil Prices

Summary U.S. crude stockpiles fell more than expected this week Analysts cite outlook for looser 2025 supply and demand balance OPEC+ shifts meeting to Dec. 5, could further delay output hike (Reuters) – Oil prices fell on Friday, heading for a weekly drop of more than 3%, pressured by easing concern over supply risks from … Read more

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Petrus Resources announces monthly activity update

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CALGARY, Alberta, Nov. 28, 2024 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce the most recent version of the Company’s monthly activity update can be found on the Company’s website at https://www.petrusresources.com/monthlyupdates. ABOUT PETRUS Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions and … Read more

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Prospera Energy announces financing and acquisition update

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CALGARY, Alberta, Nov. 28, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (PEI: TSX-V; OF6A: FRA) (“Prospera“, “PEI” or the “Corporation“) Private Placement Prospera Energy Inc. announces it is expecting to close the first tranche of its non-brokered unit offering, for total proceeds of $500,000. Each unit, priced at $1,000 per unit, consists of: (i) a one-year secured … Read more

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Global Energy Transition Forecasting in the Age of Climate Change – Yogi Schulz

By Yogi Schulz Energy transition forecasting has become more complex due to uncertainties in the plans of nations, businesses and households. While the pace of the energy transition will not determine global energy consumption, it will determine the mix of various energy sources throughout the forecast period. Forecasting how the mix of various energy sources … Read more

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Ottawa Must Ensure Trump Understands Importance of Canadian Oil to US, Wilkinson Says

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By Nia Williams (Reuters) – Ottawa must make sure the Trump administration understands how inter-related energy markets are in the U.S. and Canada, a Canadian government minister said on Thursday, commenting on President-elect Donald Trump’s vow to impose a 25% tariff on imports from the country. “We have some work to do to make sure we … Read more

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Industry Not Consulted on Alberta’s Plan to Challenge Federal Emissions Cap but Happy Premier is Taking Strong Action

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CALGARY — The Alberta government did not consult with the oil and gas sector before announcing a sweeping set of plans it says it could use to challenge the proposed federal greenhouse gas emissions cap, industry sources say.
Companies are still diges…

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Petrus Resources announces monthly activity update

petrus resources 400x270

CALGARY, Alberta, Nov. 28, 2024 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce the most recent version of the Company’s monthly activity update can be found on the Company’s website at https://www.petrusresources.com/monthlyupdates. ABOUT PETRUS Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions … Read more

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China’s EV Boom Threatens to Push Gasoline Demand Off a Cliff

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Sales of new energy vehicles have reached a tipping point Forecasters expect fuel consumption will decline rapidly Bloomberg News From Tesla chargers in the ancient alleys that surround the Forbidden City in Beijing to lonely highway rest stops with charging posts in the western deserts, signs of the electrification of China’s transport fleet — and … Read more

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Source Rock Royalties Announces Q3 2024 results including its third consecutive quarter of record royalty production

CALGARY, AB, Nov. 28, 2024 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces results for the three and nine month interim periods ended September 30, 2024 (“Q3 2024”). Q3 2024 Highlights: Record quarterly royalty production of 257 boe/d (94% oil and NGLs), an increase of … Read more

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Oil Up as Israel Says Ceasefire Violated, OPEC+ Delays Meeting

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Summary Israel says ceasefire with Hezbollah violated OPEC+ delays meeting to Dec. 5 from Dec. 1 US gasoline stocks showed surprise increase last week Oil prices remain depressed by low demand in U.S., China LONDON, Nov 28 (Reuters) – Oil prices ticked up on Thursday, after Israel said its ceasefire with Lebanese armed group Hezbollah … Read more

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OPEC+ Postpones Output Policy Meeting to Dec 5

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(Reuters) – The OPEC+ alliance of oil-producing countries has postponed its next meeting on output policy to Dec. 5 from Dec. 1 to avoid a conflict with another event, OPEC said on Thursday. A summit of Gulf Arab countries is due to be held in Kuwait City on Dec. 1 which several OPEC+ ministers plan … Read more

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Trump Inflation on the Way: Trump’s Proposed Tariffs on Canadian Oil Would Drive Up U.S. Pump Prices, Analysts Warn

Gas Pump

Summary Tariffs could raise US fuel prices by 10%, analysts say Many refineries configured to run heavy Canadian grades Midwest refineries most reliant on Canadian crude imports Gulf Coast refiners have some capacity to import more OPEC oil (Reuters) – U.S. President-elect Donald Trump’s pledge to impose tariffs on Canada would drive up fuel prices for … Read more

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The Alberta Energy Transition You Haven’t Heard About

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Horizontal drilling technology and more investment in oil production have fundamentally changed the industry By Deborah Jaremko Follow CEC on Linkedin  CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter There’s extensive discussion today about energy transition and transformation. Its primary focus is a transition from fossil fuels to lower-carbon energy sources. But in … Read more

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Asia Likely to Benefit from Cheaper Canadian, Mexican Oil if Trump Imposes Tariffs

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Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if U.S. President-elect Donald Trump imposes 25% import tariffs on crude imports from the two countries, traders and analysts said. Two sources familiar with Trump’s plan told Reuters that oil would not be exempted from potential tariff … Read more

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Clearview Resources Ltd. reports third quarter 2024 results

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CALGARY, AB, Nov. 27, 2024 /CNW/ – Clearview Resources Ltd. (“Clearview” or the “Company”) is pleased to announce its financial and operational results for the three and nine months ended September 30, 2024. HIGHLIGHTS Increased oil production in the three and nine months ended September 30, 2024 by 38% and 6%, respectively, versus the comparative periods of 2023 primarily as a result of the previously … Read more

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Schachter’s Eye on Energy: Crude Oil Retreats US$2/b On Israel/Hezbollah Ceasefire.

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Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold  newsletter covering the general energy market and 37 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more

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COMMENTARY: Early Tariff Threat From Trump 2.0 Examined – Mark Parsons, ATB ECONOMICS

trump victory means canada must get serious about tax reform fraser institute 1200x810

President-elect Donald Trump will not be inaugurated until January 20, but he has already started sending strong messages via social media on potential trade actions. On Monday, Trump threatened via his platform Truth Social that all products exported from Canada and Mexico will be subject to 25% tariffs in retaliation for what he alleges are … Read more

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Alberta Takes Aim at Trudeau Emissions Cap, Proposes Rules on Trespass and Data Gathering

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EDMONTON — Alberta Premier Danielle Smith says her government is eyeing a number of steps to challenge the proposed federal greenhouse gas emissions cap.
Announcing an upcoming motion under her Alberta Sovereignty within a United Canada Act on Tuesday…

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Guilbeault Not Happy – Alberta’s Pledge to Take Over Ownership of Emissions Data ‘Irresponsible’

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EDMONTON — Federal Environment Minister Steven Guilbeault says Alberta’s plan to make greenhouse gas emissions data the property of the provincial government could lead to oil and gas companies breaking federal laws.
Alberta Premier Danielle Smith’s p…

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Oil Undervalued as Market Faces Deficit, Iran’s Supply at Risk, Analysts Warn

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Oil prices are undervalued due to a market deficit, with the potential risk to Iran’s supply from possible sanctions under U.S. President-elect Donald Trump, according to the heads of commodities research at Goldman Sachs and Morgan Stanley. “We think that oil prices are about $5 per barrel undervalued relative to the fair value based on … Read more

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How Saudi Arabia Turned Back Climate Progress at COP29

prince abdulaziz 1200x810 oct 20 2021

The oil giant was crucial in making sure none of the major outcomes called for nations to move away from fossil fuels. Saudi Arabia and its allies had two words they didn’t want to see repeated in a COP29 deal: “fossil fuels.” The faction got their way after two weeks of bitter negotiations in Azerbaijan, reversing … Read more

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Fewer People Intend to Buy an EV Amid Price, Driving Range Concerns: EY Report

Expensive battery replacements and a lack of charging infrastructure also worry Canadians The Canadian Press A new survey finds fewer drivers intend to make their next car purchase an electric vehicle. An EY report shows overall intentions among respondents to buy a new vehicle were up six per cent compared with 2023, but fewer are interested in … Read more

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Trump Prepares Wide-Ranging Energy Plan to Boost Gas Exports, Oil Drilling, Sources Say

canadian policymakers should quickly rethink our energy and climate policies trump 1200x810

(Reuters) – Donald Trump’s transition team is putting together a wide-ranging energy package to roll out within days of his taking office that would approve export permits for new liquefied natural gas (LNG) projects and increase oil drilling off the U.S. coast and on federal lands, according to two sources familiar with the plans. The … Read more

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US Drillers Cut Oil and Gas Rigs for Third Week in a Row – Baker Hughes

alberta oil and gas on track to exceed methane emissions reduction target rig operates near cremona 1200x810

(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row for the first time since early October, energy services firm Baker Hughes said in its closely followed report on Wednesday. The oil and gas rig count, an early indicator of future … Read more

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Logan Energy Corp. Upsizes Previously Announced Equity Offering to $45 Million

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CALGARY, AB, Nov. 27, 2024 /CNW/ – Logan Energy Corp. (TSXV: LGN) (“Logan” or the “Company“) is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters led by National Bank Financial Inc. and Eight Capital as joint bookrunners and co-lead underwriters to increase the size of its previously announced bought-deal … Read more

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Prospera Energy Inc. announces Q3 2024 financial results

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CALGARY, Alberta, Nov. 27, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (PEI: TSX-V; OF6B: FRA) (“Prospera” or the “Corporation“) Prospera Energy Inc. (TSXV: PEI) (“Prospera” or the “Company”) is pleased to announce its operating and financial results for the three and nine months ended September 30th, 2024. Selected financial and operating information should be read in conjunction … Read more

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Oil Holds Steady, Focus on Israel-Hezbollah Ceasefire, OPEC+ Meeting

Oil Prices

Summary Ceasefire between Israel and Hezbollah came into effect on Wednesday OPEC+ considering delaying oil output increase, sources say Analysts see oil prices as undervalued (Reuters) – Oil prices held steady on Wednesday as markets evaluated a ceasefire deal between Israel and Hezbollah while also anticipating Sunday’s OPEC+ meeting, where the group could delay a … Read more

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Calgary Petroleum Club – BLACK FRIDAY MEMBERSHIP SALE! November 29 – December 6 ONLY! – Click Here For More Details

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Join Calgary’s Premier Business Club – The Calgary Petroleum BLACK FRIDAY MEMBERSHIP SALE – NOVEMBER 29 – DECEMBER 6   Since 1948, members of the Calgary Petroleum Club have been enjoying our private, world-class amenities, and all the benefits that come with it. It’s a place where you can indulge in fine food and make … Read more

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Emissions – Mandates & Measurements Affecting Alberta’s Oil & Gas Sector

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The oil and gas sector continues to be a focal point in the global conversation on climate change, and governments are taking additional steps to regulate and reduce emissions. Recent news about the emissions production cap (equivalent to 35 percent below 2019 levels) announced by the Government of Canada last week is controversial. Our industry … Read more

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LNG Market to Grow by 50% in the Coming Decade, Says Woodside’s O’Neill

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(Reuters) – Australia’s Woodside Energy expects the global market for liquefied natural gas (LNG) to grow by 50% in the coming decade, its CEO said on Tuesday. “Over the last decade the LNG market grew by 50%. We anticipate it will grow by another 50% in the coming decade,” Meg O’Neill told the Energy Intelligence … Read more

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COP29: The Biggest Wins, The Biggest Losses

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After running more than 24 hours over time, COP29 finally sealed a deal on climate finance. By Siobhan Wagner Early on Sunday morning, negotiators from nearly 200 nations reached a deal to triple the amount of money available to help developing economies confront a rapidly warming world. This was the main focus of what was dubbed the Finance … Read more

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For Now, Trump Plans No Exemption for Oil Imports Under New Tariff Plan, Sources Say

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U.S. President-elect Donald Trump’s plan to impose 25% tariffs on Canadian and Mexican imports in his first day in office does not exempt crude oil from the trade penalties, two sources familiar with the plan told Reuters on Tuesday. Trump on Monday pledged big tariffs on Canada and Mexico until they clamped down on drugs, … Read more

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Ranked: Top 10 Countries by Value of All Their Natural Resources

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By Bruno Venditti | Graphics/Design: Sam Parker Ranked: Top Countries by Natural Resource Value This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Natural resources are the backbone of modern manufacturing, necessary to produce everything around us. According to 2021 data … Read more

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Alberta Aiming to Create Test Site to Support New Drilling Technologies

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LEDUC COUNTY, ALTA. – Alberta’s government says it will invest up to $50 million to support the creation of a first-in-Canada drilling test site to support technology development in the oil, gas, geothermal and lithium industries. The Alberta Drilling Accelerator is intended to be an open-access, industry-led site where companies can test drilling technologies at … Read more

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Saskatchewan NDP Motion to Scrap Gas Tax Fails in Legislature

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REGINA — An Opposition emergency motion to suspend the provincial 15-cent-a-litre gas tax failed in the Saskatchewan legislature Tuesday, with Premier Scott Moe saying there are other ways to save people money. 
NDP Leader Carla Beck pressed Moe durin…

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TotalEnergies Suspends Adani Green Investment, Awaiting Clarity on Bribery Case, Says CEO

totalenergies 1200x810 oct 4 2023

By Ron Bousso and Marwa Rashad LONDON, Nov 26 – TotalEnergies (TTEF.PA) will pause investment in its Adani Green energy project until there is further clarity on a U.S. bribery case against Indian billionaire Gautam Adani, the French group’s CEO, Patrick Pouyanne, said on Tuesday. The French company, which holds close to a 19.8% stake … Read more

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OPEC+ Discusses Further Delay to Oil Output Hike, Sources Say

By Maha El Dahan, Alex Lawler and Vladimir Soldatkin Iraqi, Saudi, Russian officials hold meeting in Iraq Talks come ahead of Sunday’s OPEC+ meeting Azerbaijan says OPEC+ might consider oil cuts rollover DUBAI/LONDON/MOSCOW, Nov 26 (Reuters) – OPEC+ nations are discussing a further delay to a planned oil output hike that was due to start … Read more

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Logan Energy Corp. Announces Strategic Montney Asset Acquisition, $35 Million Equity Offering and Pro Forma Guidance for the Remainder of 2024 and 2025

logan energy corp. 1200x810

CALGARY, AB, Nov. 26, 2024 /CNW/ – Logan Energy Corp. (TSXV: LGN) (“Logan” or the “Company“) is pleased to announce that it has entered into a definitive agreement today to acquire an operated 50% working interest in certain assets located in the Company’s core area at Simonette, Alberta, for a cash purchase price of $52.0 million, before closing adjustments (the “Acquisition“). … Read more

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Highwood Asset Management Ltd. Announces Early Repayment of Promissory Note and 2025 Capital Update

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CALGARY, AB, Nov. 26, 2024 /CNW/ – Highwood Asset Management Ltd. (“Highwood” or the “Company“) (TSXV: HAM) is pleased to announce early repayment of Promissory Note issued in conjunction with the acquisition of Boulder Energy Ltd. in August 2023 and update to the 2025 capital program. Promissory Note Repayment The Promissory Note, originally issued on August 3, 2023 was set to mature on July 1, … Read more

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Keyera Announces Timing of Business Update and 2025 Guidance Webcast and Conference Call

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CALGARY, AB, Nov. 26, 2024 /CNW/ – Keyera Corp. (TSX: KEY) (“Keyera”) announced today that it will release its Business Update and 2025 Guidance before markets open on Tuesday, December 10, 2024. The release will be followed by a webcast and conference call with accompanying presentation, which have been scheduled for Tuesday, December 10, 2024, at 8:00 AM Mountain Time (10:00 AM Eastern … Read more

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Canadian Oil Companies Fall After Trump Vows New Tariffs

trump victory means canada must get serious about tax reform fraser institute 1200x810

Canadian oil and gas producers fall after Donald Trump pledged big tariffs on imports from its neighbor on Monday The U.S. president-elect said he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs, particularly fentanyl, and migrants crossing the border Cenovus Energy, Imperial Oil, Suncor Energy and Canadian Natural Resources down between … Read more

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OPEC Unlikely to Raise Production in Short Term, Commodity Trading Bosses Say

(Reuters) – OPEC is unlikely to unwind voluntary production cuts in the short term, executives of global commodity trading giants Vitol, Trafigura and Gunvor said at the Energy Intelligence Forum in London on Tuesday. OPEC+ is discussing a further delay to a planned oil output hike that was due to start in January, two sources … Read more

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Citigroup Sees Energy Challenges Persisting in 2025, Cuts PT on US Oil Firms

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Citigroup cuts price target on U.S.-based oil and gas companies as challenges for the energy sector carry over into 2025 Brokerage sees no scope for OPEC+ to reverse production cuts in 2025, leaving an est. 8 mln barrels per day (mbpd) of global oil market capacity on the sidelines Says “while we expect OPEC+ to … Read more

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New LNG Supply to be Limited in the Next Two Years, Equinor Says

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The global supply of new liquefied natural gas could take longer to come on stream than expected by the International Energy Agency, with predictions differing by a year or more, Norway’s Equinor said on Tuesday. The IEA expects a wave of LNG to come to market in late 2025 or into 2026 as projects are … Read more

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Tourmaline and Topaz Announce Upsize to Previously Announced Bought Deal Secondary Offering to $300 Million

tourmaline oil corp tourmaline and topaz announce upsize to pre

CALGARY, AB, Nov. 26, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Selling Shareholder“) and Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company“) are pleased to announce that they have agreed with the syndicate of underwriters co-led by Peters & Co. Limited and BMO Capital Markets (collectively, the “Underwriters“) to increase the size of the previously announced … Read more

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Westgate Energy Announces Q3 2024 Financial Results

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CALGARY, AB, Nov. 26, 2024 /CNW/ – Westgate Energy Inc. (“Westgate” or the “Company“) (TSXV: WGT), is pleased to announce the filing of its unaudited financial and operating results for the three and nine months ended September 30, 2024. Selected financial and operating information should be read in conjunction with Westgate’s unaudited consolidated financial statements and related management’s discussion … Read more

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Trump Nod for LNG Projects Could Boost Supply Only from 2027, Goldman Says

Goldman Sachs expects no near-term impact on global gas supplies due to the potential approval for proposed U.S. liquefaction projects, as they would need government clearance as well as long-term contracts to go ahead, it said in a note on Monday. President-elect Donald Trump’s team plans to roll out an energy package within days of … Read more

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Tax Reform Would Provide Much-Needed Boost for Canada’s Stagnant Economy – Fraser Institute

boosting canada's competitiveness by reforming business taxation – fraser institute

By Jake Fuss and Grady Munro As stagnant economic growth and declining living standards become increasingly salient, it’s clear that governments across the country must change their approach. One area ripe for reform, that governments continue to ignore, is Canada’s uncompetitive personal income taxes. In recent years, weak economic growth has resulted in an extended … Read more

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IEA chief Birol Sees ‘Comfortable’ Oil Markets, Unless Geopolitical Shock

iea 1200x810 jan 4 2024

(Reuters) – The supply of oil and gas will be plentiful, with oil markets being “comfortable” this year and next unless major geopolitical escalation happens, the head of the International Energy Agency (IEA) Fatih Birol told a conference in Norway on Tuesday. Global oil supply will exceed demand in 2025 even if OPEC+ cuts remain … Read more

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Oil Rises After Selloff on Possible Middle East Ceasefire

Summary Israel and Hezbollah close to ceasefire deal OPEC+ could leave output cuts in place from Jan. 1 Trump says he will impose 25% tariff on Canadian, Mexican goods President-elect plans to increase U.S. oil drilling (Reuters) – Oil prices rose on Tuesday after falling more than $2 a barrel in the previous session as … Read more

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U.S. Oil Firms Unlikely to Go ‘Drill, Baby, Drill’ Under Trump, says Exxon Executive – “Everybody is Focused on the Economics”

U.S. oil and gas producers are unlikely to radically increase production under president-elect Donald Trump as companies remain focused on capital discipline, a senior executive at Exxon Mobil  said on Tuesday. “We’re not going to see anybody in ‘drill, baby, drill’ mode,” Liam Mallon, head of Exxon’s upstream division, told the Energy Intelligence Forum conference in … Read more

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Looking Under the Hood: Northvolt Collapse Countdown Started with BMW Order Cancellation

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Started clock ticking on Chapter 11 filing by EV battery maker For Northvolt AB, the Swedish startup that became a poster child for Europe’s electric-driving future, the route to collapse started in June when BMW AG cancelled a multi-billion-dollar order.Back then, few saw the significance of the move, which effectively started a countdown that would culminate in … Read more

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Condor Upsizes Brokered Financing to $15 Million, With Participation by Lead Investors EurAsia Resource Value S.E. and Other Strategic Investors

condor energies logo 2022 jun 20 400x270

CALGARY, Alberta, Nov. 25, 2024 (GLOBE NEWSWIRE) — Condor Energies Inc. (“Condor” or the “Company”) (TSX: CDR) is pleased to announce that, due to strong investor demand, it has upsized its previously announced brokered, marketed offering of common shares of Condor (“Common Shares”) under the Listed Issuer Financing Exemption (the “LIFE Offering”) by up to … Read more

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Trump Prepares Wide-Ranging Energy Plan to Boost Gas Exports, Oil Drilling and Symbolic Keystone XL Approval

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Summary Plan includes lifting Biden’s pause on LNG export licenses Trump will seek to expedite drilling permits on federal land Trump to seek to boost sales of offshore oil drilling leases Reuters) – Donald Trump’s transition team is putting together a wide-ranging energy package to roll out within days of his taking office that would … Read more

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Alberta Seeks to ‘De-risk’ Oil, Gas Pipeline Investments in Wake of Trump Victory

pipeline construction 1200x810 oct 6 2023

CALGARY — Alberta’s government is looking for ways to encourage pipeline companies to boost capacity and increase the province’s oil and gas export volumes to the United States.
But Premier Danielle Smith said her government is not interested in direc…

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Global Fossil Fuel Use Rising Despite UN Proclamations – Fraser Institute

global fossil fuel use rising despite un proclamations fraser institute 1200x810

By Julio Mejía and Elmira Aliakbari At the Conference of the Parties (COP29) in Azerbaijan, António Guterres, the United Nations Secretary-General, last week called for a global net-zero carbon footprint by 2050, which requires a “fossil fuel phase-out” and “deep decarbonization across the entire value chain.” Yet despite the trillions of dollars already spent globally pursuing this target—and the … Read more

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COMMENTARY: Chaos at the Energy Transition Asylum – Irina Slav

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More From Irina Slav It has been a tough last week for climate finance negotiators, UN officials, Northvolt’s executives, one of India’s wealthiest men, the UK government, the EU, and me, because I can’t resist a temptation, especially when it’s staring me in the face and making EV sounds. So, buckle up because a lot’s … Read more

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Is Canada the Next Nuclear Superpower? – Resource Works

is canada the next nuclear superpower – resource works 1200x810

The rise of AI and other technologies have pushed energy demand through the roof, and Canada can help power that with nuclear. By Resource Works More News and Views From Resource Works Here Good to see Prime Minister Justin Trudeau pushing nuclear power as a key contributor to meeting the world’s soaring demand for electricity. … Read more

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MEG Energy Announces 2025 Capital and Operational Guidance; Christina Lake Facility Expansion Project Approval

All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen sales unless otherwise noted. CALGARY, AB, Nov. 25, 2024 /CNW/ – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation”) today announced its 2025 capital investment plan and operational guidance. “We are excited to share our 2025 capital investment … Read more

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Tourmaline and Topaz announce $242 million bought deal secondary offering of Topaz common shares

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CALGARY, AB, Nov. 25, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Selling Shareholder“) and Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company“) announced today that they have entered into an agreement with Peters & Co. Limited and BMO Capital Markets (the “Lead Underwriters“), on behalf of a syndicate of underwriters (together with the Lead Underwriters, the “Underwriters“), pursuant to … Read more

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Oil Falls More Than 2% on Possible Middle East Peace Deal

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(Reuters) – Oil prices fell more than 2% on Monday after multiple reports that Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hezbollah conflict, citing unnamed senior U.S. officials. Brent crude futures were down 2.45%, or $1.84, at $73.34 a barrel by 11:17 a.m. CST (1717 GMT), while U.S. … Read more

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Northvolt CEO Peter Carlsson Quits After Bankruptcy Filing

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Worked with Elon Musk at Tesla before heading up Swedish EV battery maker Bloomberg News Northvolt AB chief executive Peter Carlsson is stepping down as the Swedish battery maker embarks on a restructuring under bankruptcy court protection. Carlsson, a co-founder of Northvolt, has led the electric-vehicle supplier since its inception in 2016. He raised billions … Read more

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Russian Gas Flows to Europe via Ukraine Stable Despite Gazprom-OMV Row

Natural Gas

Summary Nominations to Austria unchanged in recent days Gazprom halted flow to Austria’s OMV in mid-November (Reuters) – Russian gas exports to Europe through Ukraine have been stable on Monday despite a contractual row between Kremlin-owned Gazprom  and Austria’s OMV , which halted gas flows to the Vienna-based company this month. Russia stopped gas supplies to OMV in … Read more

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Oil Prices Steady as Russia, Iran Tensions Fuel Supply Fears

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Summary Iran to hold nuclear talks with European powers on Nov 29 OPEC+ scheduled to meet on Dec. 1 China’s crude imports to rebound in Nov Nov 25 (Reuters) – Oil prices steadied on Monday following 6% gains last week, with mounting tensions between Western powers and major oil producers Russia and Iran raising fears … Read more

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Trump’s Energy Czar Burgum Is a Powerful Cabinet Pick – If Trump Stays Happy

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The North Dakota governor would have an unusually broad portfolio as Trump’s energy czar and Interior Secretary.  By Patricia Lopez Patricia Lopez is a Bloomberg Opinion columnist covering politics and policy. She is a former member of the editorial board at the Minneapolis Star Tribune, where she also worked as a senior political editor and … Read more

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CASE STUDY: Rebuilding Essential Infrastructure with Tough Cell® Technology – The Churchill Rail Line Project

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Rail infrastructure often operates behind the scenes, yet for remote and rural communities, it’s a lifeline that can make the difference between isolation and connection. Rail lines provide access to essential goods, healthcare and economic opportunities that might otherwise be limited. Moreover, they support local communities, ensuring food security and bolstering quality of life. In … Read more

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Ensuring Boiler Safety: Proper Maintenance and Blowdown Procedures for Water Level Instruments

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Proper maintenance of water level instruments is essential for the safe and efficient operation of industrial boilers. Regular blowdown procedures for water gauge glasses and remote level indicators help prevent false readings and potential safety hazards. Understanding Water Level Instruments The water gauge glass allows operators to visually monitor the boiler’s water level. Without proper … Read more

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J.P. Morgan Sees Brent Oil Price Averaging $73 a Barrel in 2025

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(Reuters) – J.P. Morgan sees the price of Brent oil averaging $73 per barrel (/bbl) in 2025 and expects it to close the year firmly below $70/bbl, with U.S. West Texas Intermediate at $64/bbl, the bank said in a note on Friday. “Our view on 2025 has remained largely unchanged over the past year: we … Read more

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Broken ‘Equalization’ Program Bad For All Provinces – Fraser Institute

canada map broken equalization program bad for all provinces fraser institute 1200x810

By Alex Whalen and Tegan Hill Back in the summer at a meeting in Halifax, several provincial premiers discussed a lawsuit meant to force the federal government to make changes to Canada’s equalization program. The suit—filed by Newfoundland and Labrador and backed by British Columbia, Saskatchewan and Alberta—effectively argues that the current formula isn’t fair. But while … Read more

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REPORT: Alberta Municipalities Hit With $37 Million Federal Carbon Tax Tab in 2023

alberta municipalities hit with $37 million carbon tax tab in 2023 residential area of grande prairie 1200x810

Federal cash grab driving costs for local governments, driving up property taxes By Laura Mitchell Follow CEC on Linkedin  CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Residential area of Grande Prairie, Alberta. Getty Images photo New data shows the painful economic impact of the federal carbon tax on municipalities. Municipalities in … Read more

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WEBINAR: Permanent Stabilization Solutions for Better Roads, Highways & Bridges with the GEOWEB® Geocells

PrestoGeo Feature

You’re invited to join Presto Geosystems for a live, 1-hour webinar to explore how to strengthen road, highway, and bridge infrastructure resilience with geocells. Webinar Description Infrastructure development for highways and road corridors faces many challenges when it comes to project design and construction. Building asphalt or concrete roadways over soft soils requires thick base … Read more

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FREE WEBINAR: Connecting with Fluor Canada – November 28, 2024: Details Here

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November 28, 2024 9:00 – 10:00 AM MT Have you ever wondered how an EPCM organization develops relationships with suppliers, contractors and community members? In this webinar, learn more about Fluor’s process in engaging with suppliers and contractors and developing effective relationships. Topics covered will include Fluor’s role on a project, project timelines and Fluor’s … Read more

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Northvolt Crisis May be Make or Break for Europe’s EV Battery Ambitions

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Summary Northvolt co-founder urges EU not to give up EV battery dream Firm has filed for bankruptcy protection, needs $1.0-$1.2 bln EU hopes hit by weak EV sales, production issues, China strength (Reuters) – Northvolt’s financial collapse deals a blow to Europe’s plan to set up its own battery industry to power electric cars, stirring … Read more

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Oil Prices Settle up 1% at 2-Week High as Ukraine War Intensifies

pump sunset 1200x810 jan 2024

Summary Russia will keep testing hypersonic missile in combat US imposes new sanctions on Moscow China crude oil imports set to rebound in November Nov 22 (Reuters) – Oil prices climbed about 1% on Friday, settling at a two-week high, as the intensifying war in Ukraine this week boosted the market’s geopolitical risk premium. Brent … Read more

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Spending Out of Control: Trudeau Government Has Likely Blown its Own Deficit Guardrail, Parliamentary Budget Officer Says

trudeau freeland 1200x810 nov 20 2023

Warns about consequences of delaying the release of final spending and revenue numbers Bloomberg News Canada’s budgetary watchdog says Justin Trudeau’s government has likely blown past a self-imposed fiscal guardrail, and is warning about the consequences of delaying the release of final spending and revenue numbers. Yves Giroux, the country’s parliamentary budget officer, expects the federal government … Read more

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COMMENTARY: Gauging The likely Trump Effect on U.S. Energy & Power Sectors

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  (Reuters) – President-elect Donald Trump’s support for the fossil fuel sector and climate scepticism have sparked dismay throughout the global climate tracking community, and fears that his policies may reverse global energy transition momentum. His campaign speeches included pledges to boost domestic oil and natural gas output and to remove mandates on electric vehicle … Read more

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Is Your Company Ready for Mandatory Sustainability Reporting?

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  Calgary, Alberta — November 20, 2024 – As the regulatory landscape surrounding corporate sustainability continues to evolve, the Canadian government and regulators are advancing reporting requirements. Sustainability reporting involves communicating the impact of a company’s operations on the environment, society, and economy, as well as how the organization manages risks and opportunities related to … Read more

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UN Climate and COP Conferences – It’s All About Money – Fraser Institute

man with briefcase un climate conference—it’s all about money fraser institute 1200x810

By Kenneth P. Green Every year, the United Nations convenes a Conferences of Parties to set the world’s agenda to reduce greenhouse gas (GHG) emissions. It’s the biggest event of the year for the climate industry. This year’s conference (COP29), which ends on Sunday, drew an army of government officials, NGOs, celebrities and journalists (many … Read more

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Trudeau’s New Tax Package Gets Almost Everything Wrong – Fraser Institute

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By Ben Eisen and Jake Fuss Recently, Prime Minister Justin Trudeau announced several short-term initiatives related to tax policy. Most notably, the package includes a two-month GST holiday on certain items and a one-time $250 cheque that will be sent to all Canadians with incomes under $150,000. Unfortunately, the Trudeau government’s package is a grab … Read more

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Suncor’s CEO Lauds ‘Rock Star’ Firebag Oilsands Site

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Bloomberg News Suncor Energy Inc.’s crude output from wells in Alberta rose to a record in October on gains at the Firebag oilsands site, which the producer’s chief executive has called a “rock star” operation. Suncor’s wells in the province produced about 284,000 barrels a day last month, the most in data stretching back to 2018 and … Read more

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You’re Invited to the CAOEC 2024 State of the Industry – Information and Ticket Details Here

Canadian Association Of Energy Contractors

Join us at the 2024 State of the Industry! In collaboration with The Explorers and Producers Association of Canada (EPAC), CAOEC is pleased to invite you to our most anticipated event of the year – the State of the Industry luncheon. The event brings together Association members, industry leaders, and subject matter experts to discuss the current state … Read more

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US Drillers Cut Oil and Gas Rigs for Second Week in a Row – Baker Hughes

(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since early October, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future … Read more

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China’s Rongsheng Petchem Buys Heavy Oil From Canada and Ecuador for Feb, Sources Say

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(Reuters) – Chinese refiner Rongsheng Petrochemical has purchased a total of 2.65 million barrels of heavy crude oil from the Americas for February delivery, according to trade sources on Friday. These include three Canadian crude cargoes of 550,000 barrels each, set to be exported from the Trans-Mountain pipeline (TMX), as well as 1 million barrels … Read more

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COP29 Climate Summit Draft Proposes Rich Countries Pay $250 Billion Per Year

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(Reuters) – The COP29 climate summit presidency released a draft finance deal on Friday that would have developed nations take the lead in providing $250 billion per year by 2035 to help poorer nations – a proposal that drew criticism from all sides. World governments represented at the summit in the Azerbaijan capital Baku are … Read more

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Goldman Sachs Expects Oil Prices to Average Around $80/bbl in 2024

(Reuters) – Goldman Sachs expects Brent prices to average around $80 per barrel this year, despite a 2024 deficit and geopolitical uncertainty, citing an anticipated 0.4 mb/d surplus next year, the bank said in a note on Thursday. “Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price … Read more

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COMMENTARY-ENERGY SOUTH: Why I Strongly Support Chris Wright for Secretary of Energy – Alex Epstein

liberty chris wright 1200x810

An in-depth interview I did about Liberty Energy CEO Chris Wright, who was recently nominated for Secretary of Energy. By Alex Epstein For the last several months, whenever I was asked who should be the next Secretary of Energy, I emphatically answered: Chris Wright! So I was thrilled when Chris was nominated last Saturday for … Read more

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Trump Energy Pick Wrote ESG Report Hailing Oil, Gas, Downplaying Climate Worry

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Summary Wright says fossil fuel extraction can end poverty Trump’s DOE pick seen pursuing ‘energy dominance’ agenda Wright does not view carbon emissions as pollution (Reuters) – President-elect Donald Trump’s pick to lead the energy department believes fossil fuels are the key to ending world poverty which, he says, is a greater problem than climate … Read more

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Russia’s Novak Says Oil Market Balanced Thanks to OPEC+

By Reuters (Reuters) – The global oil market is balanced thanks to the actions of OPEC+ countries and compliance with its quotas, Russian Deputy Prime Minister Alexander Novak said on Friday following a Russia-OPEC meeting. OPEC+ countries, which are pumping around half the world’s oil, are taking all necessary decisions to maintain market stability, Novak also … Read more

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Alberta Forecasts $4.6-billion Surplus in Budget Update, but Braces for Uncertainty

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EDMONTON — The Alberta government is forecasting a $4.6-billion surplus this fiscal year, but Finance Minister Nate Horner says Alberta’s in for a “challenging” future.
The government’s second-quarter fiscal update says just $2.9 billion of that surpl…

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Temporary GST Cut Will Save Taxpayers Money, But Not Nearly Enough

canadian taxpayers new logo 1200x810 dec 15 2021

OTTAWA, ON: The Canadian Taxpayers Federation is calling on the federal government to make its temporary GST cut permanent and provide further tax relief. “It’s good to see Canadians are finally getting some relief from this government’s high-tax burden,” said Franco Terrazzano, CTF Federal Director. “This tax cut will save Canadians money during an expensive time. … Read more

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Oil Heads for Weekly Gains as Ukraine War Intensifies

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(Reuters) – Oil prices held steady on Friday, on track for a weekly rise of 5%, as the Ukraine war intensified and Chinese imports were set to increase in November. Brent crude futures climbed 33 cents, or 0.44%, to $74.56 a barrel by 1008 GMT. U.S. West Texas Intermediate crude futures rose 27 cents, or … Read more

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Northvolt Files for Bankruptcy in Blow to Battery Hopes

northvolt 1200x810

Company failed to secure a lifeline for its battery-cell business in a faltering market for electric vehicles Bloomberg News Northvolt said its main factory will operate as usual during the reorganization. “The company will continue to make deliveries to customers, while fulfilling obligations to critical vendors and payment of wages to employees,” according to the … Read more

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Tesla Slow to Make its Superchargers More Widely Accessible

Bloomberg News Bloomberg News Tesla Inc. promised to drop the wall on its so-called charging “walled garden” two years ago, making its Superchargers accessible to all EVs. In turn, virtually every brand in the auto industry pledged to put Tesla ports in its electric vehicles. Those commitments, once fulfilled, will make Tesla the standard for automobile plugs in … Read more

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Northvolt Says Quebec Battery Plant Will Proceed Despite Bankruptcy Filing in U.S.

northvolt battery plant site quebec 1200x810

Canadian subsidiary is financed separately, but $270 million in government funding invested in parent company at risk MONTREAL — Northvolt AB has filed for bankruptcy protection in the United States, but said the move will not jeopardize the manufacturer’s planned electric vehicle battery plant in Quebec — though hundreds of millions of taxpayer dollars invested in the … Read more

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A Q&A With Heather-Exner Pirot – What Does a Trump Presidency Mean for Canadian Energy? – Resource Works

heather exner pirot 1200x810

Heather-Exner Pirot of the Business Council of Canada and the Macdonald-Laurier Institute spoke with Resource Works about the transition to Donald Trump’s energy policy, hopes for Keystone XL’s revival, EVs, and more. By Resource Works More News and Views From Resource Works Here Do you think it is accurate to say that Trump’s energy policy … Read more

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GREENPEACE TARGET: Climate Protesters Arrested Outside Pierre Poilievre’s Official Residence in Ottawa

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Ottawa police say two people were arrested this morning after an “unlawful” demonstration outside Stornoway, the official residence the Opposition leader.
Greenpeace Canada says its activists blocked Conservative Leader Pierre Poilievre’s house and tw…

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Canadian Association of Petroleum Producers Announces Leadership Appointments to Board of Directors

capp logo 1200x810 dec 7 2023

Cenovus Energy President & CEO Jon McKenzie assumes the role of Chair, and ARC Resources President & CEO Terry Anderson named Vice-Chair Calgary, Alberta (November 21, 2024) – The Canadian Association of Petroleum Producers (CAPP) is pleased to announce the appointment of Jon McKenzie, President and CEO of Cenovus Energy, as Chair of its Board of Directors for a … Read more

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Hydrogen-Heated Home Lays Ground for Low-Carbon Communities

On the outside, the new house just east of Edmonton in Sherwood Park looks like any other Canadian suburban home.
But inside, the home’s state-of-the-art furnace is fueled not by the Alberta norm of natural gas, but by pure hydrogen — making it the fi…

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Trump 2.0 Won’t Reverse Biden’s Critical Minerals Push

trump victory means canada must get serious about tax reform fraser institute 1200x810

By Andy Home LONDON, Nov 21 (Reuters) – Donald Trump has described the Inflation Reduction Act (IRA) as a “green scam” and vowed to repeal it after he returns to the White House in January. This is bad news for sectors such as electric vehicles (EV) and wind power, which have been major recipients of … Read more

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Waterous Energy Fund requisitions special meeting of shareholders of Greenfire Resources Ltd. for the purpose of replacing the entire Board of Directors

CALGARY, AB, Nov. 21, 2024 /CNW/ – Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (US) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP, and Waterous Energy Fund III (International FI) LP (collectively, “WEF“), the collective beneficial owners of approximately 43% of the issued and outstanding shares of Greenfire Resources Ltd. (TSX and NYSE: GFR) … Read more

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Hemisphere Energy announces 2024 third quarter results, declares quarterly dividend, and provides operations update

Vancouver, British Columbia–(Newsfile Corp. – November 21, 2024) – Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (“Hemisphere” or the “Company”) is pleased to provide its financial and operating results for the three and nine months ended September 30, 2024, declare a quarterly dividend payment to shareholders, and provide an operations update. Q3 2024 Highlights Achieved quarterly production … Read more

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Coelacanth Announces Q3 2024 Financial and Operating Results

November 21, 2024 6:00 AM EST | Source: Coelacanth Energy Inc. Calgary, Alberta–(Newsfile Corp. – November 21, 2024) – COELACANTH ENERGY INC. (TSXV: CEI) (“Coelacanth” or the “Company”) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2024. All dollar figures are Canadian dollars unless otherwise noted. FINANCIAL RESULTS … Read more

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Bitcoin is at the Doorstep of $100,000 as Post-Election Rally Rolls On

Bitcoin

NEW YORK (AP) — Bitcoin topped $98,000 for the first time Thursday, extending a streak of almost daily all-time highs since the U.S. presidential election. The cryptocurrency has rocketed more than 40% in just two weeks. 
Now, bitcoin is at the doorst…

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Container Shippers Hedging Green Transition with Dual-Fuel Vessel Orders

Summary Container shipping firms are at the vanguard of the green push Order books reflect uncertainty over supplies of cleaner fuels Dual-fuel LNG ships make up the bulk of container ship orders Shippers invest in other green fuels like methanol, ammonia, hydrogen LOS ANGELES, Nov 21 (Reuters) – Container shipping companies like Maersk , CMA … Read more

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Oil Up on Russia-Ukraine Missile Exchange, Outweighing U.S. Crude Stock Rises

Summary Market concerns about escalation of Russia-Ukraine war OPEC+ may delay output increases in December U.S. crude inventories rose by 545,000 barrels last week (Reuters) – Oil prices rose on Thursday as Russia and Ukraine launched missiles at each other, overshadowing the impact of a bigger-than-expected increase in U.S. crude inventories. Brent crude futures rose … Read more

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U.S LNG Exports Primed to Jump as Price Arb to Europe Opens Wide

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(Reuters) – United States exports of LNG to Europe are set to jump in the coming weeks after the price spread between domestic natural gas and Europe’s main gas pricing hub hit one-year highs. The price differential between U.S. Henry Hub natural gas futures – the U.S. gas price benchmark – and the TTF gas … Read more

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Data-Center Reliance on Fossil Fuels May Delay Clean-Energy Transition

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Summary Data centers increase reliance on fossil fuels, delaying transition to clean energy Utilities add gas plants, delay retirements to meet data-center demand Data companies’ green pledges fall short, rely on existing clean power (Reuters) – A spike in electricity demand from the world’s big data providers is raising a worrying possibility for the world’s … Read more

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U.S. Natural Gas Drillers to Lift 2025 Output, Reversing Year of Cuts

Summary US gas output to fall in 2024 for first time since 2020 US spot gas prices to rise over 40% in 2025 from 2024 levels US LNG exports to jump 14% in 2025 over levels in 2024 (Reuters) – U.S. natural gas producers will boost output in 2025 following a series of production cuts … Read more

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Northvolt Hires Restructuring Expert to Oversee its Main Factory

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Several investors have already dropped out of Northvolt’s rescue talks Bloomberg News Sweden’s Northvolt AB hired restructuring expert Paul O’Donnell to oversee its main factory unit, as time runs short for the struggling battery maker to mend its finances outside of bankruptcy court. O’Donnell, who has helped Thames Water engage with creditors, will become chairman of Northvolt … Read more

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Ford to Slash 4,000 Jobs in Europe as EV Transition Loses Momentum

Peers including Volkswagen AG and Stellantis NV have issued profit warnings in recent months Bloomberg News Ford Motor Co. will look to eliminate another 4,000 positions in Europe, further retrenching within a region where the transition to electric vehicles is losing traction industry-wide. The reductions — which amount to about 14 per cent of Ford Europe’s … Read more

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Greenfire acknowledges receipt of WEF letter seeking control of the company without offering a premium to shareholders

greenfireres logowork 400

Calgary, Alberta–(Newsfile Corp. – November 20, 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, today confirmed it has received a letter (the “WEF Letter“) from Waterous Energy Fund III (Canadian) … Read more

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Schachter’s Eye on Energy: Crude Oil War Premium Expands As Ukraine Fires Longer Range US Missiles Into Russia.

josef schachter 1200x810 noiv 8 2023

Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold  newsletter covering the general energy market and 37 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more

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TC Energy CEO Sees Opportunity in Trump Win as Company Refocuses on Natural Gas

tc energy francois poirier 1200x810

CALGARY — Donald Trump’s return to the White House is good news for Canada’s energy sector and an opportunity for TC Energy Corp., the CEO of the Calgary-based pipeline company said Tuesday.
François Poirier made the comments in a phone interview foll…

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Trudeau Touts Embattled Carbon Levy to Global Audience, Says it Faces Misinformation

trudeau july 19 2023 fraser institute 1200x810

Prime Minister Justin Trudeau is defending his embattled carbon-pricing program on the world stage, and he argues that misinformation is threatening environmental progress. Trudeau arrived today in Brazil for the G20 leaders summit, and addressed a conference held by the anti-poverty group Global Citizen. He touted Canada’s consumer carbon levy, arguing it is among the … Read more

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OPEC+ May Stick With Deep Oil Cuts for Longer Due to Weak Demand

(Reuters) – OPEC+ will have little room to manoeuvre on oil policy when it meets in December: it would be risky to increase output because of weak demand, and difficult to deepen supply cuts because some members want to pump more, sources and analysts said. The Organization of the Petroleum Exporting Countries and its allies … Read more

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Germany Builds Up LNG Import Terminals

germany lng import terminal 1200x810

(Reuters) – Germany is expanding its natural gas import options to replace Russian supply, whose suspension on the route to Austria has set European energy markets on edge, and as part of its decarbonisation efforts. Below are details on terminals being developed to host floating storage regasification units (FSRUs) to receive seaborne liquefied natural gas … Read more

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OPEC Secretary General Tells COP29 Oil is a Gift From God

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Summary Al Ghais emphasizes reducing emissions, not choosing energy sources OPEC supports carbon capture to mitigate fossil fuel impact Gas Exporting Countries Forum advocates for natural gas projects (Reuters) – OPEC Secretary General Haitham Al Ghais on Wednesday told the COP29 climate summit in Baku that crude oil and natural gas were a gift from … Read more

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ROK Resources files financial results and management discussion & analysis for the third quarter of 2024

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES REGINA, SK / ACCESSWIRE / November 20, 2024 / ROK Resources Inc. (“ROK” or the “Company“) (TSXV:ROK)(OTCQB:ROKRF) has filed its interim Financial Results and Management Discussion & Analysis for the nine months ended September 30, 2024. The Company successfully executed its Q3 2024 … Read more

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BIDDING STARTS CLOSING! Century Auctions & ClubBid.com’s Absolute Public Complete Dispersal Auction for Blackstone Industrial Services – Nitrogen & Bundle Cleaning Services

Century Auctons

Coming Soon! Bidding Opens: Thursday, November 7, 2024 – 10:00 AM Bidding Starts Closing: November 21, 2024 –  10:00 AM View, Join & Bid at ClubBid.com

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Enterprise Group Announces Successful Flare Gas Application for New Client

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 Source: Enterprise Group Inc. St. Albert, Alberta–(Newsfile Corp. – November 20, 2024) – Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the “Company” or “Enterprise”). Enterprise, a consolidator of energy services (including specialized equipment and services to the energy/resource sector), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) and other harmful emissions for small … Read more

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Oil Little Changed as Market Weighs Mixed Drivers

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(Reuters) – Oil was broadly stable on Wednesday as concerns about escalating hostilities in the Ukraine war potentially disrupting oil supply from Russia offset data showing rising U.S. crude stocks. Brent crude futures for January were up 22 cents, or 0.3%, to $73.53 a barrel at 1026 GMT. U.S. West Texas Intermediate crude futures for … Read more

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Transform Your H2S Reporting Process: The Power of XI Technologies’ Web-Based Solutions

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In the dynamic realm of H2S reporting within the oil and gas sector, the drive for efficiency and accuracy is more crucial than ever. This is where modern web-based tools, like XI Technologies’ RegulatorySuite, are making significant strides. These tools are designed to streamline H2S reporting processes, automating tasks to save time and enhance accuracy. Key … Read more

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Oil Majors are Betting Big on Biofuels with Over 40 Projects by 2030, Rystad Says

Major oil and gas companies have ramped up investments in the biofuels sector, betting on sustainable aviation fuel (SAF), with 43 projects expected to be up and running by 2030, consultancy Rystad said in a report. The energy research firm indicates that investments by industry giants such as ExxonMobil, Chevron, BP, Shell, TotalEnergies, and Eni could add 286,000 … Read more

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Trump’s DOE Pick Chris Wright Wants to Live With Climate Change – Not Fix It

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The appointment of a fracking industry veteran points to an emphasis on US fossil fuel production over preventing damage to the environment. By Liam Denning Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column. A … Read more

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TC Energy’s Outlook Highlights Solid Growth, Low Risk, Repeatable Performance at 2024 Investor Day

2025 comparable EBITDA(1) expected to be approximately $10.7 to $10.9 billion Announced four new growth projects, totaling approximately $1.5 billion of gross capital expenditures, aligned with increasing demand for natural gas and nuclear power generation CALGARY, Alberta, Nov. 19, 2024 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) will host its Investor Day today. … Read more

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Oil Slips on Sverdrup Field Restart, Geopolitical Fears Support

Summary Johan Sverdrup field partially resumes output Biden allows Ukraine to use U.S. weapons to strike into Russia U.S. crude slips into contango, suggesting easing supply tightness (Reuters) – Oil slipped on Tuesday pressured by the restart of production at Norway’s Johan Sverdrup oilfield, although investor caution arising from fears of an escalation in the Russia-Ukraine war … Read more

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Prospera Energy Announces Board Resignations

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CALGARY, Alberta, Nov. 18, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (PEI: TSX-V; OF6A: FRA) (“Prospera” or the “Corporation“) Prospera Energy announces that Jasdip Dhaliwal and Samuel David have both resigned from the Board of Directors for personal reasons, effective immediately. The Board expresses its gratitude for their contributions to the company. About Prospera Prospera Energy Inc. … Read more

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Lycos Energy Inc. Announces Third Quarter Financial Results, Operations and Guidance Update

Calgary, Alberta–(Newsfile Corp. – November 18, 2024) – Lycos Energy Inc. (TSXV: LCX) (“Lycos” or the “Company“) is pleased to announce its operating and financial results for the three and nine months ended September 30, 2024. Selected financial and operating information is outlined below and should be read with Lycos’ unaudited condensed interim consolidated financial statements … Read more

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AER Issues Order to Sunshine Oilsands Ltd.

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On November 14, 2024, the AER issued an order requiring Sunshine Oilsands Ltd. to suspend its wells, facilities, and pipelines; post a security deposit; and provide reasonable care and measures for its sites as the company has repeatedly failed to comply with regulatory requirements and address compliance issues in a timely manner. The AER’s order requires … Read more

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European Oil Giants Step Back From Renewables Path

bp 1200x810 feb 2023

Almost five years ago, BP embarked on an ambitious attempt to transform itself from an oil company into a business focused on low-carbon power. The British company is now trying to return to its roots as a big oil and gas player with a growth story to match rivals, revive its share price and allay … Read more

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What Will Be the Future of the Keystone XL Pipeline Under President Trump?

by Terry Winnitoy, EnergyNow The Keystone XL Pipeline, proposed in 2008, was designed to transport Canadian crude oil from Alberta to refineries in the United States, specifically to Steele City, Nebraska, and onward to refineries in Illinois and Texas, as well as to an oil pipeline distribution center in Cushing, Oklahoma. Spanning approximately 1,179 miles … Read more

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TC Energy Forecasts Higher 2025 Core Profit on Natgas, Electricity Demand

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(Reuters) – TC Energy  said on Tuesday it expects 2025 core profit to be in the range of about C$10.7 billion ($7.63 billion) to C$10.9 billion ($7.78 billion), higher than its 2024 forecast, due to rising demand for natural gas and electrification. The U.S. Energy Information Administration, in its latest short-term energy outlook report, saw the … Read more

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Trump’s New Energy Council Could Mean Trade Opportunity for Canada

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WASHINGTON — As Donald Trump builds his new energy-focused administration, experts say it could open opportunities for Canada to expand the two countries’ long-standing partnership amid threats of widespread tariffs from the president-elect.
Trump an…

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Bus Maker Lion Electric Mulls Sale of the Company Amid Cash Woes

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The company is considering various sources of financing, including ‘a sale of the business’ The Canadian Press MONTREAL — Lion Electric Co. is opening the door to a possible sale of the company as the electric bus maker struggles to staunch an ongoing cash bleed. In a statement Monday, the Quebec-based manufacturer said it is considering various … Read more

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Northern Ontario First Nation Votes Yes in Referendum on Possible Nuclear Waste Site

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Process for the $26-billion project has been narrowed down to two far-apart sites The Canadian Press A northern Ontario First Nation has decided it is willing to continue with the process to potentially become host to a deep geological repository for Canada’s nuclear waste. The Nuclear Waste Management Organization plans to select a site this year where millions … Read more

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COMMENTARY: The Injustice of Climate Reparations – Alex Epstein

alex epstein april 1 2023 1200x810

COP 29 leaders are demanding over a $1 trillion a year in climate reparations from the US and other successful nations. They don’t deserve a nickel. By Alex Epstein COP 29 is calling for over $1 trillion in annual climate reparations A major theme of COP 29 is that the world should set a “New … Read more

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Oil Prices Tick Higher as Russia-Ukraine Tensions Escalate

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(Reuters) – Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China and forecasts of a global oil surplus weighed on markets. Brent crude futures were up 55 cents, or 0.8%, to $71.59 a barrel at 0954 GMT, while U.S. West Texas … Read more

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Global Offshore Wind Industry Poised to Miss Big Targets as Obstacles Mount

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Summary Soaring costs, project delays and limited investment put targets out of reach Offshore wind seen as crucial to decarbonizing power industry Industry urges more government support Nov 18 (Reuters) – After a year of canceled projects, broken turbines, and abandoned lease sales, the global offshore wind industry no longer has much chance to hit … Read more

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PANDELL LEADERSHIP SERIES: Death & Dollars – Real GIS Data and Land Management Mistakes and How to Avoid Them

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How Technology Helps Garner Information from Work Already Done In this free on-demand webinar Mark Woloszyk and Steve Robins of ESG get into a discussion about what can go wrong when your team lacks accurate GIS land-mapping data. From near death experiences to million-dollar mistakes, bad or missing data can put your team, your project, … Read more

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Westech Industrial to Showcase Advanced Solutions at the Canadian School of Hydrocarbon Measurement – Saskatchewan School

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Westech Industrial is thrilled to announce its participation in the upcoming Canadian School of Hydrocarbon Measurement – Saskatchewan School, set to take place on November 20, 2024, in Estevan, Saskatchewan. As an industry leader in hydrocarbon measurement and processing technologies, Westech Industrial is dedicated to advancing the field with innovative solutions and expert insights. Visitors … Read more

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Alberta Premier Danielle Smith to Attend Embassy Trump Inauguration Party

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EDMONTON — Alberta Premier Danielle Smith plans to attend the Canadian Embassy’s inauguration party in Washington, D.C., where she is to remotely watch the swearing-in of U.S. president-elect Donald Trump.
Her office says the event is to include Canad…

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Hydrogen Wildcatters Are Betting Big on Kansas to Strike It Rich

A new Gold Rush is taking shape on a quiet stretch of Kansas prairie. There, a clutch of startups backed by the likes of Bill Gates are searching below the surface for naturally occurring hydrogen, a fuel that can generate power without adding to climate change. Finding it in vast quantities would revolutionize the energy … Read more

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What Happens When Russian Gas to Europe via Ukraine Stops?

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Austria’s energy company OMV was informed by Gazprom that the Russian gas producer would halt deliveries of natural gas via Ukraine to OMV from 0500 GMT on Nov. 16 following OMV winning an arbitration case. Supplies of Russian gas to Europe via Ukraine may completely stop from Jan. 1 2025 after the current five-year deal … Read more

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Enterprise Group to Host Investor Webcast November 21st

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St. Albert, Alberta–(Newsfile Corp. – November 15, 2024) – Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the “Company” or “Enterprise”). Enterprise, a consolidator of energy services (including specialized equipment and services to the energy/resource sector), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) and other harmful emissions for small local and Tier One … Read more

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COMMENTARY: 3 Undeniable Facts About Climate For #COP29 – Alex Epstein

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We need energy freedom to increase climate resilience and drive energy innovation By Alex Epstein Climate debates often focus on exactly how much rising CO2 levels will impact the global climate.The truth is, there is a lot of uncertainty here.What is certain is that we need energy freedom to achieve climate resilience and energy innovation.Here are … Read more

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COMMENTARY: Ottawa’s Proposed Emissions Cap Lacks Any Solid Scientific or Economic Rationale

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After two years of deliberations, the Trudeau government (specifically, the Environment and Climate Change Canada department) has unveiled the final version of Ottawa’s plan to slash greenhouse gas emissions (GHGs) from the oil and gas sector. The draft regulations, which still must pass the House and Senate to become law, stipulate that oil and gas … Read more

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Russia Resells More Gas in Europe After Cutting off Austria

Natural Gas Terminal

Summary Austria’s OMV not receiving Gazprom’s gas for second day OMV seeks to recover damages from Gazprom Slovakia says still great interest in Russian gas Data shows Russian transit via Ukraine steady (Reuters) – Russian gas flows to Austria were suspended for a second day on Sunday because of a pricing dispute, but other buyers … Read more

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Energy South: Trump Chooses Oil Fracking Boss Chris Wright as Energy Secretary

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Liberty Energy CEO has said there is no climate crisis Trump cites goals of deregulation, getting US energy dominance Chris Wright, chief executive officer of Liberty Energy Inc., was President-elect Donald Trump’s pick to lead the Energy Department. Bloomberg News President-elect Donald Trump nominated Chris Wright, who runs a Colorado-based oil and natural gas fracking services company, to … Read more

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US Drillers Cut Oil and Gas Rigs for First Time in Four Weeks – Baker Hughes

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By Scott Disavino Nov 15 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in four 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, … Read more

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WATCH: Why Energy is So Important to Canada – Understanding Alberta’s Outsized Contribution to Confederation – Fraser Institute

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By Tegan Hill, Nathaniel Li, Spencer Gudewill, and Milagros Palacios When Alberta is economically strong, all Canadians benefit, because money is redistributed to other parts of Canada. In 2022, despite restrictive federal policies, Alberta continued to contribute disproportionately to the federation. Alberta’s 5.0% real GDP growth rate was the fastest in Canada in 2022, accounting … Read more

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It’s How We Roll…And Bend! – Compass Bending: Our Skilled Operators Make All the Difference – Learn More – Book Your Fall/Winter Project

Compass Bending Ltd

Here’s one of our skilled operators applying Canusa K-60 shrink sleeves to patch Yellow Jacket coated pipe bends. We patch and holiday test all coated bends before shipping to site to ensure they are holiday-free, saving field crews this necessary step. At Compass Bending we are literally ‘bending’ for our clients every day…to make them … Read more

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THE TRUMP FACTOR: Canadian Policymakers Should Quickly Rethink Our Energy and Climate Policies

trump pointing finger 1200x810 nov 12 2024

By Ross McKitrick In the wee hours of Nov. 6, Donald Trump provided a subtle but clear signal about the direction he will pursue as president regarding climate policies. In his victory speech he gave a nod to Robert F. Kennedy Jr.’s decision to join forces with MAGA saying, “He wants to do some things, and we’re … Read more

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Oil Settles Down 2% on Weaker Chinese Demand, Uncertainty Over Fed Rate Cut

oil barrels 1200x810

Summary Brent, US crude futures fall on the week China’s oil refiners in Oct run 4.6% less crude year-on-year Major forecasters indicate slowing global crude demand growth Strong US economic data leaves Dec Fed rate cut in the balance HOUSTON, Nov 15 (Reuters) – Oil prices settled down more than 2% on Friday as investors … Read more

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Russia Cuts Gas Supplies to Austria

Natural Gas Pipeline

Summary Austria’s OMV stopped receiving Russian gas OMV seeks to recover damages from Gazprom OMV says Gazprom failed to deliver to its German unit Germany’s Scholz calls Putin (Reuters) – Russian gas giant Gazprom  continued to pump steady volumes of gas to Europe via Ukraine on Saturday, but supplies to Austrian energy company OMV  were halted hours … Read more

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Ottawa’s Politically Motivated Emissions Cap Another Headache for Consumers and Business

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Ottawa’s emissions cap for oil and gas aims to cut emissions but risks raising costs for consumers and disrupting industry stability. By Resource Works More News and Views From Resource Works Here Ottawa has brought down a new emissions cap for the oil and gas industry, with a mandate to reduce emissions by 35 percent from 2019 levels by … Read more

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COMMENTARY: Federal Government’s ’Carbon-Free’ Electricity Target Far-Fetched – Fraser Institute

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By Elmira Aliakbari, Jock Finlayson, and Tegan Hill Did you know that the Trudeau government wants to “decarbonize” Canada’s electricity generation by 2035? That is, make carbon-free sources (e.g. wind, hydro and solar) the sole power source for electricity generation in Canada. Is this possible? No. As of 2023 (the latest year of available data), … Read more

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Discount on Western Canada Select Heavy Crude Widens

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The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Friday: * WCS for December delivery in Hardisty, Alberta, settled at $11.60 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $11.45 a barrel under the U.S. benchmark … Read more

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A TALE OF TWO COUNTRIES – DRILL, BABY, DRILL vs CAP, BABY, CAP: Analysis of the U.S. Election and the Canadian Oil and Gas Emissions Cap – Deidra Garyk

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DRILL, BABY, DRILL vs CAP, BABY, CAP by Deidra Garyk Monday, November 4, the Canadian federal government announced the long-awaited draft emissions cap for the oil and gas industry. The next day, the world’s largest economy held an election that resulted in a decisive victory for the position of 47th President of the USA. With … Read more

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Prairie Provident Resources announces third quarter 2024 financial and operating results and Basal Quartz drilling update

CALGARY, Alberta, Nov. 14, 2024 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) (TSX:PPR) announces its financial and operating results for the three and nine months ended September 30, 2024. The Company’s condensed interim consolidated financial statements (“Financial Statements”) for the three and nine months ended September 30, 2024 and related Management’s Discussion … Read more

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TotalEnergies, BP, Equinor and Shell Commit $500 Million to Boost Energy Access

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TotalEnergies, BP, Equinor and Shell commit $500 million to boost energy access PARIS, Nov 15 (Reuters) – Oil and gas majors TotalEnergies, BP, Shell  and Equinor  pledged on Friday to invest $500 million to increase access to affordable energy, primarily in sub-Saharan Africa, south and southeast Asia. That is about 0.7% of some $70 billion in net … Read more

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Oil Prices Set for Weekly Loss on China Demand Fears

(Reuters) – Oil prices were steady on Friday, heading for a weekly loss, as investors mulled waning Chinese demand and a possible slowing of the U.S. Federal Reserve’s interest rate cut path. Brent crude futures dropped 30 cents, or 0.41%, to $72.26 a barrel by 1238 GMT. U.S. West Texas Intermediate crude futures were down … Read more

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Taking Climate Policy Beyond Borders Through International Cooperation – Resource Works

g7 leaders joint declaration supporting ukraine at the nato summit

Article 6 of the Paris Agreement can enable cost-effective, equitable global climate action by allowing countries to share emission credits from joint projects, helping developing nations transition from coal-based electricity. By Resource Works More News and Views From Resource Works Here Previous articles discussed the challenges developing nations face in transitioning away from coal-based electricity. … Read more

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Birchcliff Energy Ltd. announces Q3 2024 results, declaration of Q4 2024 dividend of $0.10 per common share and preliminary 2025 guidance

CALGARY, Alberta, Nov. 14, 2024 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its Q3 2024 financial and operational results and its preliminary guidance for 2025. Birchcliff is also pleased to announce that its board of directors (the “Board”) has declared a quarterly cash dividend of $0.10 per common … Read more

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Whitecap Resources Inc. confirms monthly dividend for November of $0.0608 per share

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CALGARY, AB, Nov. 14, 2024 /CNW/ – Whitecap Resources Inc. (“Whitecap”) (TSX: WCP) confirms that a cash dividend of Cdn. $0.0608 per common share in respect of November operations will be paid on December 16, 2024 to shareholders of record on November 30, 2024.  This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). About Whitecap Whitecap Resources Inc. … Read more

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Greenfire Resources announces Q3 2024 results and operational update

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Calgary, Alberta–(Newsfile Corp. – November 14, 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 its operating and financial results for the quarter ended September 30, 2024 … Read more

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OILSANDS WINDFALL: Suncor to Return All Excess Cash to Shareholders After Hitting Debt target Early

Efforts to streamline operations have helped Suncor Energy Inc. hit its debt target, triggering a commitment to pay out 100 per cent of excess funds to shareholders.
The oil and gas giant has been working to make efficiency improvements across its spr…

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Discount on Western Canada Select Heavy Crude Edges Wider

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The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened marginally on Thursday: * WCS for December delivery in Hardisty, Alberta, settled at $11.45 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $11.40 a barrel under the U.S. … Read more

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Canadians Should Expect Even More Spending in Federal Fall Economic Statement – Fraser Institute

canadians should expect even more spending in federal fall economic statement fraser institute 1200x810 trudeau

By Jake Fuss and Grady Munro The Trudeau government will soon release its fall economic statement. Though technically intended to be an update on the fiscal plan in this year’s budget, in recent years the fall economic statement has more closely resembled a “mini-budget” that unveils new (and often significant) spending commitments and initiatives. Let’s … Read more

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U.S. Energy Draws up a Wish List for New Trump Administration

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  (Reuters) – With U.S. President-elect Donald Trump two months away from taking office and able to act on his campaign promises, energy executives are lining up to offer new proposals to the mix. Trump has vowed to scrap offshore wind projects, roll back climate regulations, open more federal lands and waters to oil and gas … Read more

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Devon Energy Sees US Crude Oil at $60-$80 Per Barrel for Foreseeable Future

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Benchmark U.S. West Texas Intermediate (WTI) crude oil will cost $60-$80 per barrel in the foreseeable future, shale producer Devon Energy’s chief executive officer told attendees at an energy conference in Dallas on Wednesday. That price forecast is within the range where U.S. crude has traded for much of the year. It settled at $68.43 … Read more

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Trudeau’s Alternative Universe: Claiming the Carbon Tax is Not Inflationary Defies Belief – So Do Media Reports About Inflation – Jim Warren

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by Jim Warren Kudos to the Canadian Trucking Alliance (CTA). They have provided us with some valuable insight into the inflationary effects of Canada’s carbon tax. This past August, the CTA published a brief to the federal government which among other things called for a moratorium on the carbon tax for diesel fuel. In commenting … Read more

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Global Oil Market Faces a Million-Barrel Glut Next Year, Says IEA

global oil market faces a million barrel glut next year, says iea oil drums barrels of oil 1200x810

Supply from the U.S., Brazil, Canada and Guyana is set to grow Oil drums sit stacked in a warehouse at Jacobi Oil Service, Inc. in Floyds Knobs, Ind. Global oil markets are facing a surplus next year as Chinese demand continues to falter. Photo by Luke Sharrett /Bloomberg Global oil markets face a surplus of … Read more

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US Energy Sector Deals Extend Strong Run as Producers Build Reserves

Nov 14 (Reuters) – U.S. energy sector mergers are set to close 2024 on a high note after a blockbuster 2023 when the total deal value hit a record $250 billion, as companies double down on efforts to augment their oil and gas reserves. Deals worth $12 billion were disclosed in the quarter ended Sept. … Read more

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Freehold Royalties Announces Amendment to Credit Facilities Agreement

CALGARY, Alberta, Nov. 14, 2024 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces an amendment to its credit facilities agreement with its syndicate of four Canadian banks. The amended credit facilities have been increased from $300 million to $400 million, including an increase to the committed revolving facility from $285 million to $380 … Read more

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Step Energy Services Ltd. Reports Third Quarter 2024 Results

Step Energy Services Feature

CALGARY, Alberta–(BUSINESS WIRE)–STEP Energy Services Ltd. (the “Company” or “STEP”) (TSX: STEP) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2024. The following press release should be read in conjunction with the management’s discussion and analysis (“MD&A”) and the unaudited condensed consolidated financial interim statements … Read more

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Tidewater Midstream and Infrastructure Ltd. Announces Third Quarter 2024 Results and Operational Update

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CALGARY, AB, Nov. 14, 2024 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation”) (TSX: TWM) has filed its interim consolidated financial statements and Management Discussion and Analysis (“MD&A”) for the three and nine month period ended September 30, 2024. THIRD QUARTER 2024 HIGHLIGHTS Net income attributable to shareholders increased by $15.6 million to a net loss of $7.3 million in the third … Read more

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InPlay Oil Corp. Announces Third Quarter 2024 Financial and Operating Results

CALGARY, AB, Nov. 14, 2024 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) announces its financial and operating results for the three and nine months ended September 30, 2024. InPlay’s condensed unaudited interim financial statements and notes, as well as Management’s Discussion and Analysis (“MD&A”) for the three and nine months ended September 30, 2024 will be available … Read more

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Keyera Announces 2024 Third Quarter Results, Reaffirms 2024 Guidance

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CALGARY, AB, Nov. 14, 2024 /CNW/ – Keyera Corp. (TSX: KEY) (“Keyera”) announced its 2024 third quarter financial results today, the highlights of which are included in this news release. To view Management’s Discussion and Analysis (the “MD&A”) and financial statements, visit either Keyera’s website or its filings on SEDAR+ at www.sedarplus.ca. View PDF Keyera Announces 2024 Third Quarter Results, Reaffirms … Read more

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Highwood Asset Management Ltd. announces third quarter 2024 results and 2025 guidance

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CALGARY, AB, Nov. 14, 2024 /CNW/ – Highwood Asset Management Ltd. (“Highwood” or the “Company“) (TSXV: HAM) is pleased to announce financial and operating results for the three and nine months ended September 30, 2024. The Company also announces that its unaudited financial statements and associated Management’s Discussion and Analysis (“MD&A“) for the period ended September 30, 2024, are available on Highwood’s … Read more

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Ovintiv Strengthens Portfolio with Core Oil-Rich Montney Asset Acquisition

Transaction to Significantly Expand Existing Montney Premium Oil Inventory, Company to Exit Uinta Basin with Asset Sale Highlights: Agreement reached to acquire approximately 109,000 net acres and approximately 70 thousand barrels of oil equivalent per day (“MBOE/d”) in the core of the Alberta Montney for $2.377 billion (C$3.325 billion) Acquisition will add approximately 900 total net well … Read more

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Paramount Resources Ltd. Announces $3.325 Billion Asset Sale

CALGARY, AB, Nov. 14, 2024 /CNW/ – Paramount Resources Ltd. (“Paramount” or the “Company”) (TSX: POU) is pleased to announce that it has entered into a purchase and sale agreement (the “Agreement”) with Ovintiv Inc. (NYSE: OVV) (TSX: OVV) and one of its wholly-owned subsidiaries (together, “Ovintiv”) pursuant to which Ovintiv will acquire Paramount’s Karr, Wapiti and Zama properties (the “Assets”) for $3.325 billion in cash plus … Read more

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Ovintiv Buying Montney Assets from Paramount for US$2.38 Billion (Cdn$3.325 Billion)

CALGARY — Ovintiv Inc. says it has signed a deal to buy a group of assets in the Montney region from Paramount Resources Ltd. in an all-cash deal valued at about US$2.38 billion
The deal will add about 70,000 barrels of oil equivalent per day of produ…

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ENERGY SOUTH: Republican Sweep Opens Way to Boost U.S. Oil and Gas Development

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‘Slight’ limits likely on Biden clean energy tax incentives GOP also likely to roll back Biden environmental regulations Republicans are poised to pave the way to expand fossil fuel development, roll back Biden-era environmental regulations and curtail President Joe Biden’s signature climate law after securing unified control of Congress and the White House. Republicans completed the feat … Read more

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Inflation Pushes Norway’s Oil, Gas Sector to Record Investments

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Summary Statistics office conducts oil, gas investment survey 2024 forecast steady vs August, 2025 outlook raised Rising costs drive up price of new field developments (Reuters) – Investment in Norwegian oil and gas projects will rise to a record this year and may increase further in 2025 as inflation pushes up the costs of development, … Read more

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Oil Prices Broadly Flat After Falling on Dollar Surge

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(Reuters) – Oil prices were largely steady on Thursday, with traders holding fire after declines earlier this week on a stronger U.S. dollar and worries about rising supply amid slow demand growth. Brent crude futures edged 17 cents higher to $72.45 a barrel at 1203 GMT. U.S. West Texas Intermediate crude futures were up 14 … Read more

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World Faces Oil Surplus in 2025 on Weak Demand, IEA Says

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Summary Sees supply exceeding demand by over 1 mln bpd in 2025 IEA raises 2024 demand growth forecast by 60,000 bpd Leaves 2025 demand growth projection steady at 990,000 bpd (Reuters) – Global oil supply will exceed demand in 2025 even if OPEC+ cuts remain in place, the International Energy Agency (IEA) said on Thursday, … Read more

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Enerflex Ltd. Reports Third Quarter 2024 Financial and Operational Results and a 50% Dividend Increase

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  ADJUSTED EBITDA OF $120 MILLION AND FREE CASH FLOW OF $78 MILLION ES AND EI BACKLOG STABLE AT $1.3 BILLION AND $1.6 BILLION, RESPECTIVELY, PROVIDING STRONG OPERATIONAL VISIBILITY BANK-ADJUSTED NET DEBT-TO-EBITDA RATIO OF 1.9X AT THE END OF Q3/24, WITHIN THE COMPANY’S TARGET RANGE OF 1.5X TO 2.0X CAPITAL SPENDING GUIDANCE FOR 2024 UPDATED … Read more

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Undermining Investment in Emissions Reduction, Ignoring the Global Big Picture and Making Canadians Poorer: What Energy and Economic Leaders are Saying About Ottawa’s Oil and Gas Emissions Cap

By Deborah Jaremko Follow CEC on Linkedin  CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Energy worker in Alberta. Photo courtesy Government of Alberta The federal government’s draft rules to cap emissions – and by credible analysis, production – from Canada’s oil and gas sector will make Canadians poorer, won’t reduce world emissions, and are … Read more

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Energy Experts Think Donald Trump Will Make Tariff Exemptions for Canadian Oil

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WASHINGTON — President-elect Donald Trump’s promise to slap an across-the-board tariff of at least 10 per cent on all imports including from Canada is unlikely to apply to Canadian oil, energy experts are predicting.
The threat of the tariff is causin…

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Moving Forward with HIS Plan – Canada Steadfast on Climate Plan Despite Trump Re-Election: Steven Guilbeault at COP 29

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OTTAWA — Donald Trump’s re-election in the United States will not impact Canada’s commitment to fighting climate change, Environment Minister Steven Guilbeault said Tuesday.
Guilbeault is in Azerbaijan this week for the annual United Nations climate c…

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U.S. Energy Draws up a Wish List for New Trump Administration

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  (Reuters) – With U.S. President-elect Donald Trump two months away from taking office and able to act on his campaign promises, energy executives are lining up to offer new proposals to the mix. Trump has vowed to scrap offshore wind projects, roll back climate regulations, open more federal lands and waters to oil and gas … Read more

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Rubellite Energy Corp. reports third quarter financial and operating results

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CALGARY, AB, Nov. 12, 2024 /CNW/ – (TSX: RBY) – Rubellite Energy Corp. (“Rubellite” or the “Company”), is pleased to report its third quarter 2024 financial and operating results. Select financial and operational information is outlined below and should be read in conjunction with Rubellite’s unaudited condensed interim consolidated financial statements and related Management’s Discussion and Analysis (“MD&A”) for the … Read more

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Pine Cliff Energy Ltd. announces third quarter 2024 results and lowers capex guidance

Calgary, Alberta–(Newsfile Corp. – November 13, 2024) – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company“) announces its third quarter 2024 financial and operating results and a guidance update for 2024. Third Quarter 2024 Results Generated $8.1 million ($0.02 per basic and fully diluted share) and $29.4 million ($0.08 per basic and fully diluted share) … Read more

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Discount on Western Canada Select Heavy Crude Tightens Slightly

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The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) edged narrower on Wednesday: * WCS for December delivery in Hardisty, Alberta, settled at $11.40 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $11.45 a barrel under the U.S. … Read more

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Logan Energy Corp. announces record production and cash flow with third quarter 2024 results and provides an operations update

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CALGARY, AB, Nov. 13, 2024 /CNW/ – Logan Energy Corp. (TSXV: LGN) (“Logan” or the “Company“) is pleased to announce its operating and financial results for the three and nine months ended September 30, 2024, and to provide details of its expanded Duvernay land position along with an operations update. Selected financial and operational information set out below should be read in conjunction … Read more

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Strathcona Resources Ltd. reports third quarter 2024 financial and operating results, provides 2025 guidance and announces quarterly dividend

Nov. 13, 2024 /PRNewswire/ – Strathcona Resources Ltd. (“Strathcona” or the “Company”) (TSX: SCR) today reported its third quarter 2024 financial and operational results and announced 2025 Guidance. The Board of Directors also declared a quarterly dividend of $0.25 per share to be paid on December 31, 2024 to shareholders of record on December 16, 2024. … Read more

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Trump Pick Rubio Could Harden Oil Sanctions on Iran, Venezuela

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By Timothy Gardner and Vivian Sequera Stricter targeting of Iranian oil could be tempered by China concerns Trump will need to determine if sanctions can help achieve his goals Foreign ports, refineries processing Iran exports could be targeted WASHINGTON/CARACAS Nov 13 (Reuters) – President-elect Donald Trump’s pick of U.S. Senator Marco Rubio for secretary of … Read more

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Oil Demand to Fall to 80-100 Million bpd by 2035, says BP’s US Chief Economist

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(Reuters) – Global oil demand will fall to around 80 million to 100 million barrels per day by 2035 in a net-zero environment, BP’s chief U.S. economist told an energy conference in Dallas on Wednesday. Crude oil demand is about 102 million barrels of oil per day now, and the forecast assumes renewables and more … Read more

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Bonterra Energy Announces Third Quarter 2024 Results

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Bonterra Achieves Record Production and Realizes Early Success in the Charlie Lake and Montney CALGARY, AB, Nov. 12, 2024 /CNW/ – Bonterra Energy Corp. (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce its financial and operating results for the three and nine month periods ended September 30, 2024. The related unaudited condensed financial statements and notes for the second quarter, as well … Read more

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OPINION: COP 29 is Immoral – Alex Epstein

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COP 29 seeks net-zero, which would radically increase climate danger and ruin billions of lives By Alex Epstein COP 29 seeks net-zero—rapidly eliminating fossil fuels—in the name of protecting us from climate danger. In reality, net-zero would radically increase climate danger and ruin billions of lives. Good people should condemn COP and embrace energy freedom. … Read more

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Iran Ready for Possible Oil Export Curbs after Trump Election

Iran has made plans to sustain its oil production and export and is ready for possible oil restrictions from a Trump administration in the U.S., Oil Minister Mohsen Paknejad said on Wednesday, according to the oil ministry’s news website Shana. In 2018, then-U.S. President Donald Trump withdrew from a 2015 nuclear pact with Iran and … Read more

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Oil Prices Hold Near 2-Week Low on Gloomy Demand Outlook

Oil Prices

Summary Brent, WTI up about 0.7% Tightness in physical market offsets demand outlook – ANZ To come: API weekly US stockpile report at 2130 GMT Nov 13 (Reuters) – Oil prices held near their lowest in two weeks on Wednesday, a day after OPEC downgraded its forecast for global oil demand growth in 2024 and … Read more

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OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

By Alex Lawler Makes fourth cut in 2024 oil demand growth forecast Cuts view on Chinese demand growth to 450,000 bpd IEA to publish updated forecasts on Thursday LONDON, Nov 12 (Reuters) – OPEC cut its forecast for global oil demand growth this year and next on Tuesday, highlighting weakness in China, India and other … Read more

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U.S. Dependence on Canada’s Oil Should Deter Trump Tariffs, Industry Says

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Summary Most of Canada’s 4 million bpd of oil exports to go U.S. U.S. cannot easily replace Canadian barrels Stronger U.S. dollar could benefit Canadian producers, says analyst (Reuters) – Canada’s energy industry does not expect U.S. President-elect Donald Trump’s broad plans for protectionist trade measures will include tariffs on Canadian oil imports, because many … Read more

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US Oil Industry Urges Trump to Ditch Biden Climate Policies

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By Nichola Groom Nov 12 (Reuters) – The U.S. oil and gas industry on Tuesday called on President-elect Donald Trump to scrap many of President Joe Biden’s policies aimed at fighting climate change, saying the measures threaten jobs, consumer choice and energy security. The American Petroleum Institute (API), the nation’s top oil and gas trade … Read more

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Exxon CEO Goes Into the Lion’s Den to Tout Fossil Fuels

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Darren Woods tells COP that demand will keep rising, and the world needs an energy transition that’s profitable for companies like his. Bloomberg News For the second year running, the chief executive officer of the largest US oil company made an appearance at the COP climate talks. And Darren Woods, seen as a climate criminal by many … Read more

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Exxon CEO Pushes Back on Trump’s Anti-Climate Change Agenda

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Bloomberg News The chief executive of Exxon Mobil Corp. on Tuesday discouraged President-elect Donald Trump from withdrawing the US from the landmark Paris climate pact, arguing that would mean forfeiting a chance to push for “common sense” carbon-cutting policy on the world stage. “The way you influence things is to participate, not to exit,” Darren Woods said in an interview during … Read more

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Gibson Energy Announces Closing of $350 Million Note Offering and Redemption of its 2026 Notes

Gibson Energy

All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, Nov. 12, 2024 (GLOBE NEWSWIRE) — Gibson Energy Inc. (TSX:GEI) (“Gibson” or the “Company”) announced today that it has closed the previously announced offering of $350 million of 4.45% senior unsecured notes maturing on November 12, 2031 (the “Notes”). The Notes have been … Read more

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Canada’s Emissions Cap: What’s The Impact on Prosperity?

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By Canada Powered by Women On Monday, November 4, the federal government released draft regulations for the oil and gas emissions cap that was first outlined in March 2022. The emissions cap aims to lower emissions by as much as 35 per cent from 2019 levels by the first compliance period (2030-2032), representing one of … Read more

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Questerre reports third quarter 2024 results

THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, Nov. 12, 2024 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the third quarter ended September 30, 2024. … Read more

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Condor Announces 2024 Third Quarter Results

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CALGARY, Alberta, Nov. 12, 2024 (GLOBE NEWSWIRE) — Condor Energies Inc. (“Condor” or the “Company”) (TSX:CDR), a Canadian based, internationally focused energy transition company focused on Central Asia is pleased to announce the release of its unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2024 together with the … Read more

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Peyto Reports Strong Third Quarter Results and Preliminary 2025 Capital Program

CALGARY, Alberta, Nov. 12, 2024 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to report its operating and financial results for the third quarter of 2024 and a preliminary capital plan for 2025. Highlights: Delivered $154.3 million in funds from operations1,2 (“FFO”), or $0.78/diluted share, generated earnings of $51.0 million, … Read more

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How AI-Powered Surveillance Technology is Driving the Future of Canada’s Energy Sector’s Security

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Based on this Axis Blog: https://newsroom.axis.com/en-ca/blog/ai-security By Jason Chiu Axis Q1971-E and Axis C1310-E-MKII Overlooking Site – Courtesy of Axis Communications As Canada’s energy sector faces increasing demands for both enhanced security and operational efficiency, the complexity of protecting vital infrastructure grows. Energy assets are central to the country’s economy and safeguarding them from physical … Read more

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Suncor Energy Earnings Rise to $2.02 billion in Third Quarter

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CALGARY — Suncor Energy Inc. says it earned $2.02 billion in its third quarter, up from $1.54 billion a year earlier. 
The Calgary-based oil giant says its earnings work out to $1.59 per common share, up from $1.19 during the same quarter last year. 

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Discount on Western Canada Select Heavy Crude Narrows

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The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Tuesday: * WCS for December delivery in Hardisty, Alberta, settled at $11.45 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $11.65 a barrel under the U.S. benchmark … Read more

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COP29 Will Highlight Bifurcated Energy Transitions

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By Antony Currie BAKU, Nov 12 (Reuters Breakingviews) – “I’m not going to Baku, and very few of my peers are either”. So said a senior figure at an influential European asset manager, in a chat last month with Breakingviews. Throw in the election of climate change sceptic Donald Trump as U.S. president, and the … Read more

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Canada Orders Ports to Restart as Labor Disputes Choke Trade

Justin Trudeau’s government directed an independent labor board to end lockouts at Canada’s largest ports, as it did with railways in August, to avoid an economic disruption in the country. Labor Minister Steven MacKinnon announced that he has invoked his authority under the Canada Labor Code and forced the matter to the Canada Industrial Relations Board, which … Read more

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Oil Prices Steady Ahead of OPEC Report, China Stimulus Limit Gains

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(Reuters) – Oil prices were little changed on Tuesday, awaiting further price direction from OPEC’s monthly report, while investor disappointment over China’s latest stimulus plan and oversupply concerns limited gains. Brent crude futures rose 38 cents, or 0.5%, to $72.21 a barrel, by 0944 GMT. U.S. West Texas Intermediate crude futures were up 36 cents, … Read more

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Global GHG Emissions Forecasting in the Age of Climate Change – Yogi Schulz

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By Yogi Schulz Forecasting greenhouse gas (GHG) emissions can tell us what we will pay for the energy transition to address climate change. If GHG emissions are not decreasing as governments and environmentally-conscious citizens expect, carbon taxes will likely increase, and regulations will tighten. These measures will increase the cost of living, contribute to affordability … Read more

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LAST CHANCE – CALGARY EVENT: A Conversation with Brett Wilson & Greg McLean

Greg McLean O P

  The Calgary Centre Conservatives are pleased to invite you to an exclusive evening of conversation featuring our Member of Parliament Greg McLean and W. Brett Wilson. You can look forward to an intimate discussion with our MP and a nationally-renowned Calgary business leader.   A Conversation with W. Brett Wilson & MP Greg McLean … Read more

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COP29: Host Nation Azerbaijan Hits Out at Critics, Political Hypocrisy in Defence of Oil and Gas Industry

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Summary Azerbaijan president: We should not be blamed for fossil fuels Comments highlight tension at heart of climate talks U.N. chief Guterres tells world leaders to ‘pay up’ Many world leaders absent from the summit BAKU, Nov 12 (Reuters) – Azerbaijani President Ilham Aliyev used a keynote speech at the COP29 climate summit to lash … Read more

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U.S. Sets Methane Fee on Oil, Gas Emitters as Biden Term Winds Down

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  Repeal of methane fee likely during Trump presidency Methane fee starts at $900 per metric ton in 2024 Applies to facilities emitting over 25,000 T of CO2 equivalent annually BAKU, AZERBAIJAN Nov 12 (Reuters) – U.S. President Joe Biden’s administration on Tuesday finalized a methane fee for big oil and gas producers meant to slash emissions … Read more

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Federal Government Faces Potential Loss if Trans Mountain Pipeline Sold: PBO

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OTTAWA — The federal government faces a potential loss on the sale of the Trans Mountain pipeline as it estimates it’s worth less than it cost to build, the Parliamentary Budget Officer said Friday.
The pipeline could be worth between $29.6 billion an…

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Shell Wins Appeal Against Landmark Dutch Climate Ruling

Summary Appeals court dismisses 2021 ruling Friends of the Earth says will continue to fight polluters COP29 take place in Baku to seek progress on curbing emissions (Reuters) – Oil and gas major Shell (SHEL.L) on Tuesday won an appeal against a landmark ruling that required it to accelerate carbon reduction efforts, dealing a blow to campaigners … Read more

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The Future of Emissions, Developing Nations, and the Path Forward – Resource Works

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How developing countries can become leading players in decarbonizing world economies.  By Resource Works More News and Views From Resource Works Here It is increasingly clear that developing countries will play a central role in combating climate change. Their economic growth and rising per capita energy consumption will have a significant impact on global GHG … Read more

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Trump Worries and Leader Absences Cloud COP29 Climate Summit in Baku

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The annual U.N. climate summit began on Monday with some prominent leaders planning to skip the event ahead of tough talks on finance and trade, after a year of weather disasters that have emboldened developing countries’ demands for cash. Delegates gathering in Azerbaijan’s capital, Baku, hope to resolve the COP29 summit’s top agenda item – … Read more

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How the Haisla Nation’s Cedar LNG Project Reversed How Relationships with Indigenous Communities Work in the Energy Sector

how the haisla nation’s cedar lng project reversed how relationships with indigenous communities work in the energy sector crystal smith cec 1200x810

‘Through these projects it means hope, it means a different outlook in terms of what you’re providing your generations of today and for future generations’ By Cody Ciona Follow CEC on Linkedin  CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Crystal Smith is the elected Chief Councillor of the Haisla Nation. Photo … Read more

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Mapped: Renewable Energy as a Percentage of Power Generation, by Country

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By Rakshit Jain Mapped: Renewable Energy by Country (2022 Data) This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. As of 2024, the global average for electricity generated from renewable sources is 29%. While all countries vary on this metric, wealth is not the … Read more

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COMMENTARY: A Wake-Up Call for Political Strategists Across the Continent – Margareta Dovgal, Resource Works

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By Margareta Dovgal By Resource Works More News and Views From Resource Works Here For only the second time in US history, a president has lost, left office, and won re-election. For most Canadians watching the US election, the news of Donald Trump’s impending return to the White House comes with some degree of disappointment … Read more

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Waterous Energy Fund Closes Acquisition of 43.3% of the Shares of Greenfire Resources Ltd.

CALGARY, AB, Nov. 11, 2024 /PRNewswire/ – Waterous Energy Fund Management Corp. (the “WEF Manager”), in its capacity as manager of certain limited partnerships comprised of Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (US) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund … Read more

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Trump Is Likely to Exempt Canadian Energy From Tariffs, Wilbur Ross Says

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Bloomberg President-Elect Donald Trump will follow through on his plans to hit imports with tariffs but is likely to carve out exemptions for sectors such as Canadian oil and gas, former US Commerce Secretary Wilbur Ross said. Canada is the largest external supplier of energy to the US, reaching nearly $160 billion in 2022, most of which is crude oil, petroleum … Read more

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EU’s Von der Leyen Suggests US LNG Could Replace Russian Supply

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Commission president spoke to Trump about energy, other topics US is already top source of LNG for the European Union European Commission President Ursula von der Leyen has an idea for reducing the bloc’s consumption of Russian liquefied natural gas: import more from America. That’s among the subjects she mentioned during a recent phone call with US … Read more

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Oil Falls as China Stimulus Fails to Boost Sentiment, US Dollar Strength

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Summary Brent, WTI falls over 1% on China, US dollar strength China’s latest stimulus package fell short of expectations US storm Rafael subsides Nov 11 (Reuters) – Oil prices fell on Monday, after China’s stimulus plan disappointed investors seeking fuel demand growth in the world’s No. 2 oil consumer and as the U.S. dollar edged … Read more

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Scovan’s Fabrication Capabilities: Driving Value Through Innovation

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Our journey began with the need to address specific challenges, but it has since evolved into a company-wide approach that brings value to our clients at every level. Scovan’s PadX product and our collaboration with the PadX Consortium catalyzed change. The transformation of our fabrication facility and our innovative approach has had a profound impact … Read more

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COP29 Primer: Canada’s Priorities at the Global Climate Talks, and the Trump Impact

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Canada could be an important consensus builder at this year’s international climate negotiations, Environment and Climate Change Minister Steven Guilbeault said, while downplaying concerns that Donald Trump’s presidential election victory could hamper…

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COMMENTARY: Ottawa’s Oil and Gas Emissions Cap Will Hit Alberta With a Wallop for No Meaningful Impact on Climate

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After considerable waiting, the Trudeau government released on Monday draft regulations to cap greenhouse gas (GHG) emissions from Canada’s oil and gas producers. The proposed regulations would set a cap on GHG emissions equivalent to 35 per cent of the emissions produced in 2019 and create a GHG emissions “cap and trade” system to enable oil and … Read more

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Russia Explores Plan to Merge Rosneft with Gazprom Subsidiary and Lukoil, WSJ Reports

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Russia is working on a plan to merge state-backed Rosneft Oil with Gazprom Neft and Lukoil, creating the world’s second-biggest crude oil producer, the Wall Street Journal reported on Friday. Talks between executives and government officials took place over the past few months, and a deal may or may not happen, the newspaper said, citing … Read more

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COMMENTARY: What a Wonderful Week! – Energy “Reality” Won Over Energy “Fantasy” – Irina Slav

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More From Irina Slav Ever since I discovered (two days ago) that, according to Google, I’m a “public figure”, whatever that means, I’ve felt an urge to shower the world with my opinions. By a happy coincidence this week has presented us with an abundance of opinion-provoking events. Obviously, we begin with the U.S. elections. … Read more

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Global Perspective to Energy, Development, and Inequality – Resource Works

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To effectively address global emissions, it’s essential to recognize the complex interplay between economic development, rising energy demands, and the disparities in energy consumption across nations. By Resource Works More News and Views From Resource Works Here Building on the issues raised in our first article, which examined the shortcomings in the world’s existing emissions reduction … Read more

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Trump Prepares to Withdraw from Paris Climate Agreement, New York Times Reports

(Reuters) – U.S. President-elect Donald Trump’s transition team has prepared executive orders and proclamations on withdrawing from the Paris climate agreement and shrinking the size of some national monuments to allow more drilling and mining, the New York Times reported on Friday. Trump is also expected to end the pause on permitting new liquefied natural … Read more

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US Oil and Gas Rig Count Holds Steady for Record Third Week – Baker Hughes

(Reuters) – U.S. energy firms this week kept the number of oil and natural gas rigs operating unchanged for a record third week in a row, according to energy services firm Baker Hughes’ data going back to 1987. The oil and gas rig count, an early indicator of future output, was steady at 585 in … Read more

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Oil Settles Down 2% on Receding Hurricane Risk, Lackluster China Stimulus

Summary WTI settles 2.7% lower, as hurricane risk recedes; Brent falls 2.3% Over 23% of US Gulf of Mexico oil output shut in as of Friday China stimulus deemed insufficient to support oil demand On weekly basis, oil gained 1% on Trump victory in U.S. election NEW YORK, Nov 8 (Reuters) – Oil prices settled … Read more

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Trump Victory Means Canada Must Get Serious About Tax Reform – Fraser Institute

trump victory means canada must get serious about tax reform fraser institute 1200x810

By Jake Fuss and Alex Whalen Following Donald Trump’s victory in Tuesday’s presidential election, lower taxes for both U.S. businesses and individuals will be at the top of his administration’s agenda. Meanwhile, Prime Minister Trudeau has raised taxes on businesses and individuals, including with his recent capital gains tax hike. Clearly, Canada and the United States are now moving … Read more

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Enterprise Group Announces Financial Results for Third Quarter 2024

Enterprise Group logo Feature

St. Albert, Alberta–(Newsfile Corp. – November 8, 2024) – Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the “Company” or “Enterprise”). Enterprise, a consolidator of energy services (including specialized equipment and services to the energy/resource sector), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) and other harmful emissions for small local and Tier One resource … Read more

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Trafigura Signs Long-Term Natural Gas Agreement with NuVista Energy Ltd

(Reuters) – Commodity trading house Trafigura has signed a long-term natural gas offtake agreement with NuVista Energy, giving the mid-size Canadian producer exposure to international liquefied natural gas (LNG) market pricing, the companies said on Friday. NuVista will supply 21,000 metric million British thermal units per day (MMbtu/d) of natural gas to Trafigura with the … Read more

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EU May Consider Replacing Russian LNG Imports With Those From US, Von Der Leyen Says

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(Reuters) – The European Union could consider replacing Russian liquefied natural gas (LNG) imports with those from the United States, European Commission President Ursula von der Leyen told reporters on Friday. “We still get a lot of LNG from Russia and why not replace it by American LNG, which is cheaper for us and brings … Read more

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For Second Year in a Row, Alberta Oil and Gas Companies Spend More Than Required on Cleanup

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$923 million spent cleaning up inactive wells, sites and pipelines in 2023 By Grady Semmens Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter As a business owner, Ryan Smith values few things more than predictability when it comes to the oil and gas market and the demand for his … Read more

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Canada’s 50 Most Investible Cleantech Companies Have Been Announced

  VANCOUVER, British Columbia, Nov. 07, 2024 (GLOBE NEWSWIRE) — Foresight Canada, the nation’s largest cleantech accelerator, has revealed this year’s Foresight 50 list, recognizing Canada’s 50 most investible cleantech ventures. The 2024 list features trailblazing companies across diverse sectors delivering solutions to urgent challenges including waste reduction, sustainable housing, emissions reduction, and food security. According … Read more

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Freehold Royalties Announces Third Quarter Results and Schedules 2024 Investor Day

CALGARY, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces third quarter results for the period ended September 30, 2024. Third Quarter Summary $74 million in revenue; $56 million in funds from operations ($0.37/share)(1)(3); $41 million in dividends paid ($0.27/share)(2); 9,367 bbls/d of total liquids production; An increase … Read more

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NuVista Energy Ltd. Announces Strong Third Quarter 2024 Financial and Operating Results, LNG Agreement, 2025 Budget, and Enhanced Shareholder Return Strategy

CALGARY, Alberta, Nov. 08, 2024 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company“) (TSX: NVA) is pleased to announce strong financial and operating results for the three and nine months ended September 30, 2024, and to provide an update on our operational performance. The quality and composition of our asset base consistently enables us … Read more

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Trump-Led Oil & Gas Export Boom May Go Bust in Europe Trade Spat

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(Reuters) – Oil and gas producers in the United States expect to find it easier to ramp up production and exploration under the incoming second administration of Donald Trump. Finding local and lucrative markets for their wares may be the bigger challenge. Producers expect the new administration to streamline permit processes relating to fossil fuel … Read more

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Oil Prices Fall More Than 1% as Hurricane Rafael Risk Recedes

Oil Prices

(Reuters) – Oil prices fell on Friday on receding fears over the impact of Hurricane Rafael on oil and gas infrastructure in the U.S. Gulf while investors also weighed up fresh Chinese economic stimulus. Brent crude oil futures lost $1.17, or 1.55%, to $74.46 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI) crude … Read more

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U.S. LNG Developers See Trump Win Lifting Pall Over Expansions

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Summary Energy and LNG executives express relief at Trump’s election win Expect regulations will ease under new administration Environmental groups promise fight to block LNG expansion (Reuters) – U.S. liquefied natural gas developers awaiting permits for new export projects this week expressed confidence President-elect Donald Trump will ease the way for their multi-billion-dollar expansion plans. Their … Read more

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Trump’s Victory May Pressure Oil Prices Through 2025, Citi Says

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Citi forecasted on Wednesday that U.S. President-elect Donald Trump’s second term could exert downward pressure on oil through 2025, with Brent crude forecasted to average at $60 per barrel, primarily due to potential trade tariffs and increased oil supply. The bank notes that Trump’s influence on OPEC+, which is made up of the Organization of … Read more

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Why Developing Countries Face Difficulty in Moving Away from Coal-Based Power – Resource Works

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“For some, shunning coal wouldn’t just be expensive; it would mean a lack of energy for human development,” says Rahul Tongia of the Brookings Institution. By Resource Works More News and Views From Resource Works Here As we saw in the previous article in this series, developing nations face the dual challenge of phasing out GHG-emitting … Read more

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Discount on Western Canada Select Heavy Crude Edges Wider

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 The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened slightly on Thursday: * WCS for December delivery in Hardisty, Alberta, settled at $11.85 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $11.75 a barrel under the U.S. … Read more

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COMMENTARY: A Clear-Eyed Look at Canadian LNG’s Promise – Stewart Muir

a clear eyed look at canadian lng's promise stewart muir lng canada export terminal kitimat bc 1200x810

Crucial real-world nuances make British Columbia’s LNG story uniquely compelling By Stewart Muir Cooling towers used to dissipate heat generated when natural gas is converted into liquefied natural gas are seen under construction at the LNG Canada export terminal, in Kitimat, B.C. in September 2022. Darryl Dyck, The Canadian Press A commentary by the Victoria … Read more

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COMMENTARY: Trudeau Government Capping the Canadian Economy (and Energy Industry) Just to Impress International Agencies – Kasha Piquette

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  The incoming Trump Presidency has promised  to “unleash American energy” with plans to “free up the vast stores of liquid gold on America’s public land for energy development.”  This week, the Trudeau government unveiled the draft details of its plans for a cap on greenhouse gas emissions from the Canadian oil and gas sector. … Read more

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Schachter’s Eye on Energy: US & China Energy Consumption Falls. We See WTI Declining Below US$68/b In The Coming Weeks.

josef schachter 1200x810 noiv 8 2023

Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold  newsletter covering the general energy market and 37 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more

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Headwater Exploration Inc. announces third quarter operating and financial results, declaration of quarterly dividend and update to 2024 guidance

CALGARY, AB, Nov. 7, 2024 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) is pleased to announce its operating and financial results for the three and nine months ended September 30, 2024, declaration of quarterly dividend and update to 2024 guidance.  Selected financial and operational information is outlined below and should be read in conjunction with the unaudited condensed interim financial … Read more

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Tenaz Energy Corp. announces Q3 2024 results and senior unsecured notes issue

tenaz energy 400x270

CALGARY, AB, November 7, 2024 /CNW/ – Tenaz Energy Corp. (“Tenaz”, “We”, “Our”, “Us” or the “Company”) (TSX: TNZ) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2024 and senior unsecured notes issue. The unaudited interim condensed consolidated financial statements and related management’s discussion and analysis (“MD&A”) are available on SEDAR+ … Read more

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Journey announces third quarter 2024 financial and operating results

Calgary, Alberta–(Newsfile Corp. – November 7, 2024) – Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (“Journey” or the “Company“) is pleased to announce its financial and operating results for the three and nine month periods ending September 30, 2024. The complete set of financial statements and management discussion and analysis are posted on www.sedarplus.ca and on the Company’s … Read more

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Gear Energy Ltd. Announces Third Quarter 2024 Operating Results

Calgary, Alberta–(Newsfile Corp. – November 7, 2024) – Gear Energy Ltd. (“Gear” or the “Company”) (TSX: GXE) (OTCQX: GENGF) is pleased to provide the following third quarter operating results to shareholders. Gear’s Interim Consolidated Financial Statements and related Management’s Discussion and Analysis (“MD&A”) for the period ended September 30, 2024 are available for review on … Read more

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Cardinal Energy Ltd. Announces Third Quarter 2024 Operating and Financial Results

Calgary, Alberta–(Newsfile Corp. – November 7, 2024) – Cardinal Energy Ltd. (TSX: CJ) (“Cardinal” or the “Company”) is pleased to announce its operating and financial results for the third quarter ended September 30, 2024. FINANCIAL AND OPERATING HIGHLIGHTS FROM THE THIRD QUARTER OF 2024 Third quarter production of 21,128 boe/d was impacted by a planned … Read more

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Pieridae releases Q3 2024 financial and operating results

Successfully executes another stage of its corporate strategy by closing the sale of Goldboro, fully repaying the high-interest bridge loan, and completing an equity private placement CALGARY, Alberta, Nov. 06, 2024 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) announces the release of its third quarter 2024 financial and operating results. The Company produced … Read more

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TC Energy reports solid third quarter 2024 operating and financial results

tc energy 1200x810 oct 27 2023

Southeast Gateway makes significant progress toward completion with estimated capital expenditures 11 per cent lower to US$3.9 to US$4.1 billion Overall net capital expenditure outlook for 2024 revised eight per cent lower to $7.4 to $7.7 billion reflecting project execution and optimization CALGARY, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy … Read more

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Cenovus Energy announces renewal of share buyback program

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CALGARY, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that the Toronto Stock Exchange (“TSX”) has approved the renewal of the company’s normal course issuer bid (“NCIB”) to purchase up to 127,489,549 common shares during the 12-month period commencing November 11, 2024 and ending November 10, 2025. Cenovus’s renewal … Read more

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Kelt Reports financial and operating results for the three and nine months ended September 30, 2024

Calgary, Alberta–(Newsfile Corp. – November 7, 2024) – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) reports its financial and operating results to shareholders for the three and nine months ended September 30, 2024. The Company’s financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended September 30 Nine months ended September 30 (CA$ … Read more

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Paramount Resources Ltd. announces third quarter 2024 results

CALGARY, AB, Nov. 7, 2024 /CNW/ – Paramount Resources Ltd. (“Paramount” or the “Company”) (TSX: POU) is pleased to announce its third quarter 2024 financial and operating results. HIGHLIGHTS Third quarter sales volumes averaged 94,892 Boe/d (48% liquids). (1)  Grande Prairie Region sales volumes averaged 67,635 Boe/d (50% liquids).  The planned turnaround at the Wapiti natural gas processing plant (the “Wapiti Plant”) … Read more

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Oil Imports Into China Decline Again as Top Buyer Cuts Back

Year-to-date inflows more than 3% lower amid wider slowdown Local refiners have been reducing throughput on weaker margins Bloomberg Oil imports into China sank again last month, highlighting soft consumption in the largest buyer just as traders weighed the implications of Donald Trump capturing the White House and potential supply rises from OPEC+. Imports contracted … Read more

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Trump 2.0 Is Bad for the Climate But Not Hopeless

Climate Change

Americans who say they care about global warming need to push back against the next administration’s worst impulses. By Mark Gongloff In poll after poll, Americans say they care about climate change. But then again, they also say they care about democracy, women’s rights and other such ideals. And yet for the second time in three elections, they … Read more

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TC Energy Cuts Cost Estimate for Southeast Gateway Pipeline Project in Mexico

CALGARY — TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.
It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.
T…

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Alberta Premier Should Use Overwhelming Party Support to Finally Enact Reforms

danielle smith sept 29 2023 1200x810

Premier Danielle Smith received 91.5 per cent support from members of the United Conservative Party (UCP) in this weekend’s leadership vote, which means she will continue as head of the UCP and premier of Alberta. Clearly there’s confidence in her leadership—but what will she do with it? In Alberta, government spending is too high. When today’s relatively … Read more

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Enserva Responds to the Proposed Oil and Gas Sector Greenhouse Gas

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Enserva’s President and CEO, Gurpreet Lail, issued the following statement in response to the Government of Canada’s draft oil and gas sector emission cap regulations “The government’s proposed emissions cap is a production chokehold in disguise. By imposing these overreaching restrictions, they’re not just capping emissions – they’re capping Canadian energy itself. This approach punishes … Read more

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How Trump’s Second Administration Affects Business: Musk, Tariffs and More

donald trump 1200x810 march 2024

Donald Trump’s return to the White House after winning the Nov. 5 U.S. presidential election may reshape American business. Much depends on whom he appoints as deputies and cabinet members, including the role of Tesla CEO Elon Musk, and what tariffs he enacts. Following are some major issues and sectors to watch:WHAT ROLE WILL ELON … Read more

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Global Solar Capacity Hits 2 TW on Path to Climate Goal, Data Shows

(Reuters) – Global solar capacity has reached a record 2 terawatts (TW) of capacity, with more added in the last two years than the previous 68 combined, exclusive data from the sector’s global industry group shared with Reuters showed. The updated figures have not previously been published, and the Global Solar Council said they give … Read more

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Halliburton Misses Quarterly Profit Estimates on North America Drilling Demand Weakness

(Reuters) – Halliburton  fell short of analysts’ estimates for third-quarter profit on Thursday, as a slowdown in drilling activity in North America weighed on demand for its oilfield services and equipment. Producers have kept a tight lid on production in North America since the downturn in oil prices in 2020 and weak natural gas prices. North … Read more

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Oil Slips as Investors Digest U.S. Election Fallout

Summary US dollar near four-month high after Trump win China’s October crude oil imports fall Trump expected to ramp up sanctions on Iranian oil Hurricane Rafael shuts 17% of Gulf of Mexico oil output (Reuters) – Oil slipped on Thursday, extending a sell-off triggered by the U.S. presidential election, as a strong dollar and lower crude … Read more

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Pipeline Operator TC Energy’s Profit Beats on Higher Volumes

tc energy 1200x810 oct 27 2023

(Reuters) – Pipeline operator TC Energy’s  third-quarter profit beat Wall Street estimates on Thursday, helped by higher volumes of liquids transported through its system. U.S. imports of crude oil from Canada reached a record in July, benefiting pipeline firms such as TC Energy. Additionally, the U.S. Energy Information Agency said gas consumption in the United … Read more

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Who Could Run Trump’s Pro-Drilling Energy Policies?

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(Reuters) – President-elect Donald Trump has promised to overhaul U.S. energy policy, with an aim of maximizing the country’s already record-high oil and gas production by rolling back regulation and speeding up permitting. Who will he choose to run the key departments and agencies to get this work done? Here are some of the names … Read more

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Surge Energy Inc. announces third quarter financial and operating results; latest operational results; and 2025 capital and operating budget

CALGARY, AB, Nov. 6, 2024 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce financial and operating results for the quarter ended September 30, 2024, as well as the Company’s 2025 capital and operating budget as approved by Surge’s board of directors (the “Board”). Select financial and operating information is outlined below and should … Read more

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Greenfire Resources Ltd. files injunction following cease trade of rights plan; proceeds with strategic review and adopts new shareholder rights plan

greenfireres logowork 400

Calgary, Alberta–(Newsfile Corp. – November 6, 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 has filed an application with the Court of King’s Bench of Alberta seeking an interim injunction … Read more

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Discount on Western Canada Select Heavy Crude Tightens

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 The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Wednesday: * WCS for December delivery in Hardisty, Alberta, settled at $11.75 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $11.90 a barrel under the U.S. benchmark … Read more

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Pembina Pipeline Seeing Increased Interest from Potential Cedar LNG Suppliers: CEO

CALGARY – Pembina Pipeline Corp. says it has seen an uptick in interest from potential long-term contracted natural gas suppliers since making a firm decision to go ahead with the Cedar LNG project. The Calgary-based pipeline company and its project partner, the Haisla First Nation, green-lit the US$4-billion facility in June. Pembina CEO Scott Burrows said … Read more

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From Oil to EVs, Here’s What a Trump Victory Means for Energy

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Win empowers him to attack climate policies he’s dubbed a scam Republican will also push policies to produce more oil and gas Donald Trump’s victory promises to shake up US energy and environmental policy, with sweeping implications for oil production, offshore wind development and electric vehicle sales. The win empowers him to deliver on his … Read more

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Lucero Energy Corp. announces third quarter 2024 financial & operating results and provides operational update

lucero energy 400x270

CALGARY, AB, Nov. 6, 2024 /CNW/ – Lucero Energy Corp. (“Lucero” or the “Company”) (TSXV: LOU) (OTCQB: PSHIF) announces financial and operating results for the three and nine months ended September 30, 2024.  The associated Management’s Discussion and Analysis (“MD&A”) and unaudited financial statements as at and for the three and nine months ended September 30, 2024 can be found at www.sedarplus.ca or www.lucerocorp.com. All dollar amounts … Read more

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Kiwetinohk reports third quarter 2024 results and provides Duvernay and Montney operations update

CALGARY, AB, Nov. 6, 2024 /CNW/ – Kiwetinohk Energy Corp. (TSX: KEC) today reported its third quarter 2024 financial and operational results. As companion documents to this news release, please review the third quarter 2024 management discussion and analysis (MD&A) and condensed consolidated interim financial statements (available on kiwetinohk.com or www.sedarplus.ca) for additional financial and operational details. “In the third quarter, Kiwetinohk’s … Read more

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CES Energy Solutions Corp. announces strong Q3 2024 results with record revenue and adjusted EBITDAC and declares cash dividend

ces energy solutions corp ces energy solutions corp announces

November 6, 20243:01 PM CNW CALGARY, AB, Nov. 6, 2024 /CNW/ – CES Energy Solutions Corp. (“CES” or the “Company”) (TSX: CEU) (OTC: CESDF) is pleased to announce strong financial results for the three and nine months ended September 30, 2024, with record quarterly revenue and Adjusted EBITDAC. The Company’s Board of Directors also approved a quarterly dividend of $0.030 per share, which … Read more

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Vermilion Energy Inc. announces results for the three and nine months ended September 30, 2024

CALGARY, AB, Nov. 6, 2024 /CNW/ – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the three and nine months ended September 30, 2024. The unaudited interim financial statements and management discussion and analysis for the three and nine months ended September 30, 2024 will be … Read more

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ARC Resources Ltd. reports third quarter 2024 results and announces 2025 budget, first production at Attachie, and 12 per cent dividend increase

arc resources logo 400x270

November 6, 20243:06 PM CNW CALGARY, AB, Nov. 6, 2024 /CNW/ – (TSX: ARX) HIGHLIGHTS Attachie Phase I was successfully commissioned in late October, facilitating substantial production growth in the fourth quarter of 2024 and throughout 2025. Drilling operations for all start-up wells have concluded and completions operations for the final start-up pad will commence in mid-November. Current … Read more

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Tourmaline delivers strong free cash flow in the third quarter, updates five-year EP plan and declares a special dividend

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CALGARY, AB, Nov. 6, 2024 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company“) is pleased to release financial and operating results for the third quarter of 2024 and declare a special dividend. HIGHLIGHTS Third quarter cash flow(1)(2) of $741.9 million ($2.09 per diluted share(3)), underpinned by Tourmaline’s average realized natural gas price of $3.19/mcf. Q3 2024 net earnings of $355.2 million ($1.00 per diluted share). … Read more

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Alberta Asks Municipalities to Name oil Companies Not Paying Taxes, Reeve Says No Use

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EDMONTON — The Alberta government is asking rural municipalities to send letters pointing the finger at specific oil and gas companies that aren’t paying their property taxes — but one rural leader says there’s no hope for enforcement.
Municipal Affa…

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GUNTER: Liberals’ Attack On Oil and Gas Industries Will Cost Jobs Nationwide

steven guilbeault 1200x810 house of commons oct 25 2023

By Lorne Gunter Originally Published in the Toronto Sun: torontosun.com/opinion/columnists/gunter-liberals-attack-on-oil-and-gas-industries-will-cost-jobs-nationwide The Liberals’ proposed oil and gas emissions cap, announced Monday, is not just an issue for Alberta, although it will hit Alberta and Saskatchewan particularly hard. It’s a national issue. First, the cap will harm the national economy. It will slow Canada’s already sluggish growth … Read more

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Trump Sequel Poised to Shake Up Global Energy Markets

The president-elect advocates more drilling, high tariffs and fewer climate restrictions.   Bloomberg Whatever policies he ultimately pursues, Donald Trump’s return to the White House looks certain to send shock waves through global energy markets. In his victory speech, the president-elect said he’d take charge of any decisions relating to “liquid gold,” a pledge that oil … Read more

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Parex Resources announces third quarter results, declaration of Q4 2024 dividend, and operational update

CALGARY, Alberta, Nov. 05, 2024 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce its financial and operating results for the three-month period ended September 30, 2024, the declaration of its Q4 2024 regular dividend of C$0.385 per share, as well as an operational update. All amounts herein are in … Read more

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Discount on Western Canada Select Heavy Crude Narrows

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The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Tuesday: * WCS for December delivery in Hardisty, Alberta, traded between $12.10 and $12.30 per barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $12.60 a barrel under the … Read more

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Calfrac Reports third quarter 2024 results with record financial performance in Argentina

Calfrac Logo Feature

CALGARY, Alberta, Nov. 06, 2024 (GLOBE NEWSWIRE) — Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) announces its financial and operating results for the three and nine months ended September 30, 2024. The following press release should be read in conjunction with the management’s discussion and analysis and interim consolidated financial statements and notes thereto … Read more

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CNOOC Limited brings on-stream Long Lake NW Project in Canada

HONG KONG, Nov. 6, 2024 /PRNewswire/ — CNOOC Limited (the “Company”, SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces that Long Lake Northwest Project in Canada has commenced production safely. The project is located in Alberta, Canada. The main production facilities include a new well pad and 4 pipelines. It will be developed with steam-assisted gravity … Read more

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MEG Says 2024 Production to Come in at Low end of Forecast Due to Wildfires

CALGARY — MEG Energy Corp. says its full-year production is likely to come in towards the lower end of its forecast range, in part due to the wildfires at its Christina Lake oilsands site in northern Alberta.
The Calgary-based company said it produced…

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How Trump’s Second Administration Affects Business: Musk, Tariffs and More

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Donald Trump’s return to the White House after winning the Nov. 5 U.S. presidential election may reshape American business. Much depends on whom he appoints as deputies and cabinet members, including the role of Tesla CEO Elon Musk, and what tariffs he enacts. Following are some major issues and sectors to watch:WHAT ROLE WILL ELON … Read more

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TSX Futures Surge More Than 1% After Trump’s Election Victory

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(Reuters) – Futures linked to Canada’s main stock index climbed more than 1% on Wednesday, bolstered by positive market sentiment after Republican Donald Trump reclaimed the U.S. presidency. December futures on the S&P/TSX index were up 1.1% at 6:10 a.m. ET (11:10 GMT). Trump won the election after defeating Vice President Kamala Harris, making a comeback … Read more

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Oil Falls as Trump Win Sends U.S. Dollar Higher

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Summary Brent, WTI fall over 1% as US dollar strengthens Trump recaptures White House after divisive campaign US crude oil stocks rise higher than projection, sources cite API (Reuters) – Oil prices fell on Wednesday as the U.S. dollar rallied on Donald Trump’s election as president. Investors believe a Trump presidency will bolster the dollar as interest … Read more

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CAOEC Rejects the Federal Government’s Proposed Emissions Cap

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The Canadian Association of Energy Contractors (CAOEC) rejects the federal government’s proposed emissions cap on Canadian oil and gas production.   At a time when Canadian families are struggling with high energy and food prices, the Trudeau Liberals’ new emissions cap will make everything just a little bit more unaffordable. The Canadian economy is struggling, … Read more

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European Clean Energy Stocks Tumble as Trump Wins Presidency

(Reuters) – Shares in European clean energy groups plummeted on Wednesday after Donald Trump was elected president of the United States, as investors fretted over a potential dismantling of U.S. support for renewables and climate policy. Trump had vowed to scrap offshore wind projects through an executive order on his first day in office and to roll back climate regulations implemented under President … Read more

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HE’S BACK! Donald Trump Elected U.S. President in Stunning Comeback – Here’s What Trump Has Said He Would Do in His Second Term

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Summary Trump’s victory driven by voter concerns on economy and immigration His second term could reshape executive branch, increase political polarization Kamala Harris falls short, had warned of threats to democracy PALM BEACH, Florida, Nov 6 (Reuters) – Donald Trump was elected president, capping a remarkable comeback four years after he was voted out of the White … Read more

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Trump Return Will Slow, Not Stop, U.S. Clean Energy Boom

Summary Biden-era clean energy subsidies would likely survive Reduction in offshore wind leasing likely Solar, wind energy costs have dropped sharply Oil, gas output already at record highs (Reuters) – Donald Trump’s return to the White House will refocus the nation’s energy policy onto maximizing oil and gas production and away from fighting climate change, but the … Read more

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New Joint Venture Announced by GLJ and Energy Fuse to Lead U.S. Carbon Sequestration and Enhanced Oil Recovery Projects

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Calgary, Alberta and Houston, TX – GLJ Ltd. (“GLJ”) and Energy Fuse Group LLC (“Energy Fuse”) are pleased to announce the formation of a joint venture aimed at project implementation with industry leading engineering and geosciences products and services for Carbon Sequestration and Enhanced Oil Recovery (EOR) projects across the United States. This strategic partnership … Read more

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Emissions Cap Puts Methane in Spotlight; Industry Says Low-Hanging Fruit Already Gone – Additional Federal Goals Will be a Significant Challenge

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CALGARY — Oil and gas producers who have already made progress on lowering their methane emissions over the last decade say further large-scale reductions will be tougher to deliver.
The federal government published new draft regulations Monday that w…

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MEG Energy Announces Third Quarter 2024 Financial and Operating Results

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CALGARY, AB, Nov. 5, 2024 /CNW/ – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation”) reported its third quarter 2024 operational and financial results.1 “Following another strong financial and operational quarter, we have delivered on our long-standing commitment to reduce net debt. Moving forward, 100% of free cash flow will be returned to shareholders through expanded share buybacks … Read more

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Pembina Pipeline Corporation Reports Results for the Third Quarter 2024 and Updates Full Year Guidance

All financial figures are in Canadian dollars unless otherwise noted. This news release refers to certain financial measures and ratios that are not specified, defined or determined in accordance with Generally Accepted Accounting Principles (“GAAP”), including net revenue; adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”); adjusted cash flow from operating activities; adjusted … Read more

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Saturn Oil & Gas Inc. Reports Q3 2024 Results Highlighted by Record Quarterly Production, Adjusted EBITDA and Adjusted Funds Flow

Calgary, Alberta–(Newsfile Corp. – November 5, 2024) – Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) (FSE: SMKA) (“Saturn” or the “Company”), a light oil-weighted producer focused on unlocking value through the development of assets in Saskatchewan and Alberta, is pleased to report our financial and operating results for the three and nine months … Read more

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Ernst & Young Inc. undertakes a sales and investment solicitation process for the assets of Plains Environmental Inc.

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CALGARY, AB, Nov. 5, 2024 /CNW/ – Ernst & Young Inc., in its capacity as Court-Appointed Interim Receiver (the “Interim Receiver“) of Plains Environmental Inc (“Plains“), is undertaking a sales and investment solicitation process (“SISP“) for all current and future assets, undertakings and properties of Plains (the “Property“) and the business presently carried on by Plains … Read more

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Can the No. 1 Oil Producer Lead the Way on Climate? The U.S. Is Trying It

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The latest in American exceptionalism is exporting 50% more oil than Saudi Arabia while trying to prod the world towards net zero. Bloomberg It sounded like the top American climate diplomat really meant it: “We are moving away from fossil fuels,” said John Kerry, in one of his last acts as the US negotiator at the close … Read more

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Oil Trades in Tight Range Ahead of U.S. Election Result

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(Reuters) – Oil prices traded in a narrow range on Tuesday ahead of what is expected to be an exceptionally close U.S. presidential election, after rising more than 2% in the previous session as OPEC+ delayed plans to hike production in December. Brent crude futures ticked up 16 cents, or 0.2%, to $75.24 a barrel … Read more

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The Global Emissions Challenge: Why Current Strategies Are Falling Short

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By Jerome Gessaroli Global emissions are rising despite our efforts. Why aren’t current strategies working? By Resource Works More News and Views From Resource Works Here Reducing greenhouse gas (GHG) emissions has become an urgent global priority, but current measures are not keeping pace with the scale of the problem. The United Nations has ambitious … Read more

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Pine Cliff Energy Ltd. Declares Monthly Dividend for November 29, 2024 and Provides Third Quarter 2024 Webcast Details

November 4, 2024 Calgary, Alberta–(Newsfile Corp. – November 4, 2024) – Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) (“Pine Cliff” or the “Company”) has declared a regular monthly dividend of $0.005 per common share to be paid November 29, 2024, to shareholders of record on November 15, 2024. This dividend and future dividends are expected to be designated as … Read more

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Topaz announces third quarter 2024 financial results, record royalty acreage drilling activity and closing of strategic royalty acquisition

November 4, 2024 CALGARY, AB, Nov. 4, 2024 /CNW/ – Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company”) is pleased to provide third quarter 2024 financial results and provide updated 2024e guidance estimates.  Select financial information is outlined below and should be read in conjunction with Topaz’s interim condensed consolidated financial statements (“Consolidated Financial Statements”) and related management’s … Read more

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Canada Releases Draft Regulations to Cap Pollution, Drive Innovation, and Create jobs in the Oil and Gas Industry

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OTTAWA, ON, Nov. 4, 2024 /CNW/ – After years of steady progress, Canada’s climate plan is working to deliver greenhouse gas pollution reductions for Canadians. Across the economy, Canadian workers and businesses are innovating to reduce greenhouse gas pollution while creating good jobs and cleaner air. Canadians and their communities bear the brunt and pay the costs from increased extreme weather … Read more

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5 Ways Tough Cell® Geocells Provide Better Drainage and Surface Strength for Roads

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Efficient drainage is one of the most critical factors in ensuring long-lasting and safe roads. When water pools due to poor drainage systems, erosion, subsurface failures, and hazardous driving surfaces often occur. Traditional road construction designs include culverts, drainage pipes, and slopes to maximize road runoff and provide drainage. But these elements in road designs … Read more

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After the U.S. Election: The Growing Imperative to Create a More Integrated Internal Economy in Canada

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  Regardless of the outcome of the 2024 US presidential election, it is likely that protectionist pressures will intensify in that country, thereby further threatening Canada’s exports to its largest trading partner. The imperative to create a truly integrated internal market will therefore be even more pressing. There are relatively large economic benefits to Canadians … Read more

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Discount on Western Canada Select Heavy Crude Widens

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The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened slightly on Monday: * WCS for December delivery in Hardisty, Alberta, settled at a discount of $12.60 per barrel under the WTI benchmark, according to brokerage CalRock, widening from $12.40 a barrel under the U.S. benchmark … Read more

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Alberta Premier Smith Says She’s ‘Pissed’ About Oil and Gas Cap, Eyeing Legal Challenge

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Regulations intended to force companies to do fair share to fight climate change, says Ottawa Joel Dryden · CBC News Alberta Premier Danielle Smith claims federal draft regulations that would require oil and gas producers in Canada to limit greenhouse gas emissions by 35 per cent below 2019 levels will “lead Alberta and our country into economic … Read more

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Awaiting the Next U.S. President: Canadians Prefer Trudeau to Deal with Harris, Poilievre to Work with Trump

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Significant regional variation over which leader is best suited to handle the next American president Canadians will join their American neighbours in watching results pour in Tuesday night for the U.S. election. Will Donald Trump become only the second president elected for a second non-consecutive term (Grover Cleveland, for the U.S. history buffs) or will … Read more

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OPEC Positive on Global Oil Demand, Sees No Peak on Horizon

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(Reuters) – The Organization of Petroleum Exporting Countries (OPEC) is very positive on demand for oil in both the short and long term, Secretary General Haitham Al Ghais said at an energy industry event in Abu Dhabi on Monday. “There are some challenges, but the picture is not as negative as some make it sound,” … Read more

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Canada Releases Draft Regulations to Cap Pollution, Drive Innovation, and Create Jobs in the Oil and Gas Industry

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OTTAWA, ON, Nov. 4, 2024 /CNW/ – After years of steady progress, Canada’s climate plan is working to deliver greenhouse gas pollution reductions for Canadians. Across the economy, Canadian workers and businesses are innovating to reduce greenhouse gas pollution while creating good jobs and cleaner air. Canadians and their communities bear the brunt and pay the costs from increased extreme weather … Read more

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OPEC Oil Output Rises in October as Libyan Supply Rebounds, Survey Finds

(Reuters) – OPEC oil output rebounded in October from its lowest this year the previous month as Libya resolved a political crisis, a Reuters survey found, although a further Iraqi effort to meet its cuts pledged to the wider OPEC+ alliance limited the gain. The Organization of the Petroleum Exporting Countries pumped 26.33 million barrels … Read more

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WEBINAR: Latest Cyber Attacks – Practical Steps to Keep Your Family Safe

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The Macenko Merkley Group Invites You To: Latest Cyber Attacks – Practical Steps to Keep Your Family Safe Join Us Virtually Thursday, November 7th, 2024 12:00 Noon MST Cybercriminals constantly adapt, using innovative techniques to target individuals and families.  However, with the proper knowledge and tools, you can protect yourself from most threats. In this … Read more

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Greenfire Resources provides update on strategic review process, reserves report timeline and announces date for Q3 2024 results and conference call

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Calgary, Alberta–(Newsfile Corp. – November 4, 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, today provides an update on its strategic review process and timeline for the updated reserves evaluation. Greenfire … Read more

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STEP Energy Services Ltd. Agrees to $5.00 Per Share Take Private Transaction With Funds Advised by ARC Financial Corp.

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CALGARY, Alberta–(BUSINESS WIRE)–STEP Energy Services Ltd. (“STEP” or the “Company”) (TSX: STEP) is pleased to announce that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with 2659160 Alberta Ltd. and the limited partnerships comprising ARC Energy Fund 8 (a private equity fund advised by ARC Financial Corp.) (collectively, “ARC”) to take the … Read more

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Gran Tierra Energy Inc. Reports Third Quarter 2024 Results and Announces its Sixth Consecutive Ecuador Oil Discovery from the Charapa-B7 Well

  Gran Tierra Announces its Sixth Consecutive Ecuador Oil Discovery from the Charapa-B7 Well and Has Achieved Cumulative Production of Over 1 Million Barrels of Oil in Ecuador Gran Tierra Achieved $1 Million in Net Income and Generated $60 Million in Funds Flow from Operations(2), an Increase of 31% from Prior Quarter Third Quarter 2024 Total Average WI Production of 32,764 BOPD Operating Netback of $101 Million and Adjusted … Read more

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COMMENTARY: OPEC+’s Again Delayed Output Hike Shows Soft Demand Reality

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By Clyde Russell (Reuters) – Geopolitical uncertainty will probably garner the lion’s share of the blame for OPEC+’s decision to once again delay raising crude oil output, but weak demand, especially in Asia, is more significant. Eight members of OPEC+, which groups the Organization of the Petroleum Exporting Countries plus Russia and other allies, pushed back their … Read more

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Oil Gains 3% After OPEC+ Delays Output Hike, U.S. Election in Focus

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Summary Brent up 2.9%, WTI up 3.1% OPEC+ delays December output hike by one month Focus on US election US Fed decision, China NPC meet this week Nov 4 (Reuters) – Oil prices rose about 3% on Monday on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for … Read more

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OPEC’S OIL ROLLERCOASTER: OPEC Actions Increasing Volatility and Hampering New Investment in Oil and Gas, CEO Says 

(Reuters) – OPEC+ oil supply cuts and recent efforts to unwind them have increased volatility in energy markets and hampered investment in new production, the CEO of Italian energy company Eni said on Monday. Speaking at an industry event in Abu Dhabi, Claudio Descalzi said he expected high volatility in the energy markets experienced in … Read more

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Oil Rollercoaster: OPEC Actions Increasing Volatility and Hampering New Investment in Oil and Gas, CEO Says 

(Reuters) – OPEC+ oil supply cuts and recent efforts to unwind them have increased volatility in energy markets and hampered investment in new production, the CEO of Italian energy company Eni said on Monday. Speaking at an industry event in Abu Dhabi, Claudio Descalzi said he expected high volatility in the energy markets experienced in … Read more

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Enbridge in Talks About Mainline Pipeline Expansion as Canadian Oil Output Grows

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CALGARY — Enbridge Inc. has begun talks with its customers about expanding its Mainline pipeline network to handle growing volumes of Canadian oil output, the Calgary-based company said Friday.
“We have commenced commercial discussions with the indust…

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CASE STUDY: Sideworx Connect as Prime Contractor for Longshore Resources’ Water Transfer Operations (2023-2024)

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Background Sideworx Connect, a staffing and recruiting company, has evolved far beyond it’s traditional scope. Although known for providing experienced workers in various industries, the company has also proven its capability to act as a Prime Contractor. This case study explores Sideworx Connect’s role as the Prime Contractor for Longshore Resources’ water transfer operations in … Read more

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Seeing the Invisible: The Role of Thermal and Thermometric Cameras in Securing Canada’s Energy Infrastructure

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By Jason Chiu Solar Plant Overlooked by Axis Camera – Courtesy of Axis Communications In any economy, a stable and reliable energy flow is the backbone of operations. It underpins industry, transportation, and household activities, shaping everything from economic stability to quality of life. For Canada, one of the world’s top energy producers, maintaining a … Read more

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Battling -35°C – Cold-Weather Solutions for Reliable Analyzer Performance

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As the harsh Canadian winter approaches, the oil and gas industry faces one of its most formidable operational challenges—keeping critical equipment functional in sub-zero temperatures. In regions where temperatures can plunge to -35°C or lower, ensuring that analytical systems and equipment maintain reliability is not just a preference—it’s a necessity. At Westech Industrial, we understand … Read more

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Introducing Pandell Whitestar for Land

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ESG’s Pandell Whitestar Integrated Solution is Ready to Streamline Energy Asset Management in America On the heels of acquiring Whitestar this spring, we are delighted to announce our new Pandell Whitestar integrated solution for energy companies. Learn how to solve key challenges in energy land siting and asset management by leveraging a combination of robust … Read more

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OGMP 2.0: Best-in-Class Methane Measurement with HI-FLOW 2

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Author: David Booker, CTO, Sensors Inc. The importance of OGMP 2.0 and methane emission management  An Overview of OGMP 2.0 The Oil and Gas Methane Partnership 2.0 (OGMP) is an international initiative that aims to reduce methane emissions in the oil and gas industry by improving the accuracy of reporting standards and committing to emission … Read more

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IMPOSING THE LIBERAL AGENDA! Oil, Gas Companies Told by Steven Guilbeault to Cut Emissions by One-Third Under Planned Cap

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OTTAWA — Oil and gas producers in Canada will be required to cut greenhouse gas emissions by about one-third over the next eight years under new regulations being published today by Environment Minister Steven Guilbeault.
The regulations, still only i…

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Perspective: Canada’s Energy Transition: Navigating Growth, Resilience, and Innovation

By Marie-France Gravelle and Tej Gidda As global energy demands rise and the effects of climate change intensify, countries like Canada are facing unprecedented challenges in managing their energy systems. With energy demand expected to double in the U.S. by 2035, Canada’s energy landscape is evolving in parallel, with its own distinct opportunities and obstacles. … Read more

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Pathways Seeking Bids for Part of its Proposed Carbon Capture Network

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CALGARY — The Pathways Alliance group of oilsands companies has issued a request for proposals to pipe manufacturers for the massive carbon capture and storage network it wants to build in northern Alberta.
The CEO of Imperial Oil Ltd., one of the six…

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KKR Sees $250 Billion Spent Annually From Data Center Boom

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Alternative investment manager is leaning into data centers Operators of the facilities looking for new power sources Soaring demand for data centers to support artificial intelligence and cloud-computing will boost global spending in the sector to $250 billion a year, according to KKR & Co. The US is the biggest developer of data centers. That infrastructure … Read more

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South Bow recommends shareholders reject TRC Capital’s below-market “mini-tender” offer

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CALGARY, Alberta, Nov. 01, 2024 (GLOBE NEWSWIRE) — South Bow Corp. (TSX & NYSE: SOBO) has received an unsolicited “mini-tender” offer from TRC Capital Investment Corp. (TRC Capital) to purchase up to 3 million South Bow common shares, or approximately 1.4% of South Bow’s outstanding common shares, at a below-market price of C$31.95. South Bow … Read more

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Oil Prices Settle up Slightly on Iran Worries, But Prices Down for Week

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Summary Iran prepares possible strike on Israel from Iraq, Axios reports Exxon reports record global production US job growth almost stalled in October Investors focus US election NEW YORK, Nov 1 (Reuters) – Oil prices edged up on Friday on reports Iran was preparing a retaliatory strike on Israel from Iraq in coming days, but … Read more

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Heavy-Duty Truckers Welcome New ‘Natural Gas Highway’ in Alberta

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New compressed natural gas fuelling stations in Grande Prairie and Calgary join new stop in Edmonton By Deborah Jaremko Follow CEC on Linkedin  CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Clean Energy Fuels CEO Andrew Littlefair, Tourmaline CEO Mike Rose, and Mullen Group chairman Murray Mullen attend the opening of a … Read more

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Canada Could Capitalize as Global Electricity Demand Continues to Rise – Fraser Institute

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By Jock Finlayson There’s no getting around it. The world is consuming more energy than ever, notwithstanding a temporary slump in demand during the pandemic. Of course, human activity requires energy. We depend on huge quantities of it to produce food, construct buildings, produce electricity, manufacture things, transport goods and people, and so on. Canada … Read more

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Smith Government Should Finally Deboard Alberta’s Resource Revenue Rollercoaster

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Premier Danielle Smith warned on Tuesday that her government may fall into a budget deficit this fiscal year due largely to lower than expected oil prices. Unfortunately, the news comes as no surprise. It’s all part of the boom-and-bust resource revenue rollercoaster that successive Alberta governments have ridden for years. This year’s projected budget surplus of $367 … Read more

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Tell Pierre Poilievre to Oppose the Ban on New Gas and Diesel Vehicle – Canadian Taxpayers Federation

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Pierre Poilievre is promising to scrap Ottawa’s plan to ban new gas and diesel vehicles and this is your chance to do your part. Radio host Alex Pearson asked Poilievre if he would keep Prime Minister Justin Trudeau’s plan to ban all new gas and diesel vehicles by 2035. Poilievre’s answer was clear: “No, because this … Read more

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Canadian Natural, Cenovus Curtail Gas Drilling Amid Weak Prices

Canadian Natural, Cenovus Curtail Gas Drilling Amid Weak Prices Warmer weather, swelling stockpiles are weighing on prices Cenovus shifts emphasis to wells targeting liquids production Canadian Natural Resources Ltd. and Cenovus Energy Inc., two of the country’s largest energy companies, are cutting back on gas drilling as prices for the fuel languish. Canadian Natural, which already reported … Read more

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Imperial Announces Third Quarter 2024 Financial and Operating Results

Quarterly net income of $1,237 million Cash flows from operating activities of $1,487 million and cash flows from operating activities excluding working capital1 of $1,797 million Upstream production of 447,000 gross oil-equivalent barrels per day, highest third quarter in over 30 years Kearl production of 295,000 total gross oil-equivalent barrels per day (209,000 barrels Imperial’s share), … Read more

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US Oil and Gas Rig Count Unchanged This Week, Baker Hughes Says

(Reuters) – U.S. energy firms kept the number of oil and natural gas rigs operating unchanged for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, held at 585 to Nov. 1. Baker … Read more

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Enbridge reports strong third quarter 2024 financial results, executes on business priorities, and reaffirms financial guidance and outlook

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CALGARY, AB, Nov. 1, 2024 /PRNewswire/ – Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today reported third quarter 2024 financial results, provided a quarterly business update, and reaffirmed its 2024 financial guidance and outlook. Highlights (All financial figures are unaudited and in Canadian dollars unless otherwise noted. * identifies non-GAAP financial measures. Please … Read more

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Ensign Energy Services Inc. reports 2024 third quarter results

CALGARY, AB, Nov. 1, 2024 /CNW/ – FINANCIAL HIGHLIGHTS (Unaudited, in thousands of Canadian dollars, except per common share data) Three months ended September 30 Nine months ended September 30 2024 2023 % change 2024 2023 % change Revenue $   434,617 $   444,405 (2) $  1,257,716 $  1,361,227 (8) Adjusted EBITDA 1 119,049 117,295 1 336,727 361,235 (7) … Read more

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Exxon Mobil profit tops Street in 3rd quarter, helped by Pioneer Natural acquisition

Exxon Mobil’s third-quarter profit beat analysts’ expectations, as the oil and gas giant was helped by contributions from Pioneer Natural Resources, a recent acquisition. 
Exxon earned $8.6 billion, or $1.92 per share, for the three months ended Sept….

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Oil Climbs 2% on Reports of Iran Preparing Strike on Israel

Oil Prices

Summary Iran prepares strike on Israel from Iraq, Axios reports Investors also focused on US election and China’s NPC meeting next week (Reuters) – Oil prices rose more than 2% on Friday after reports that Iran was preparing a retaliatory strike on Israel from Iraq in the coming days, though benchmarks were still set for … Read more

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Pipeline Operator Enbridge’s Q3 Profit More Than Doubles on Steady Oil demand

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(Reuters) – Enbridge posted a more than twofold jump in its third-quarter profit on Friday, as the Canadian pipeline operator benefited from steady oil demand. Data from the U.S. Energy Information Administration showed that total U.S. oil consumption rose in July to the highest seasonal level since 2019. Demand for gasoline was also at the highest seasonal levels … Read more

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Prospera Energy Commences Restructure Initiatives at the Board Level to Attain PEI Potential

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CALGARY, Alberta, Nov. 01, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (PEI: TSX-V; OF6B: FRA) (“Prospera” or the “Corporation“) Prospera announces the opportunistic appointment of Mr. Shubham Garg as Chairman of the Board of Directors. Previous Chairman, Mr. Mel Clifford has stepped down from the Board of Directors for personal reasons, effective October 31, 2024. … Read more

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Paying Less at the Pump Than Last Year? Thank TMX

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By more than doubling capacity and cutting down the costs, the benefits of the TMX expansion are keeping more money in consumer pockets. By Resource Works More News and Views From Resource Works Here ust months after the Trans Mountain Expansion (TMX) project was completed last year, Canadians, especially British Columbians, are experiencing the benefits … Read more

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Struck by Lightning: Ford to Halt F-150 Lightning Production at Michigan Plant

While Lightning sales are up this year, they are far short of Ford’s ambitious expectations Bloomberg News Ford Motor Co. plans to shut down the Michigan factory that produces its F-150 Lightning plug-in pickup truck, its signature electric vehicle, through the end of the year as demand for EVs continues to wane. The move is the latest … Read more

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New Brunswick – New Government, New Energy Priorities by Premier Elect Examined

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On October 21st, 2024, the New Brunswick Liberal Party won the 2024 provincial election, taking a majority with 31 of 49 seats. The Premier-designate, Susan Holt, will become New Brunswick’s first female Premier. The new Cabinet will be sworn in on November 2nd, 2024. Energy-related campaign commitments:  Premier-designate Holt made several energy-related commitments during the campaign … Read more

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Precision Drilling Expects Rig Demand Growth with LNG Canada Startup

CALGARY — Precision Drilling Corp. said it will be closely watching the startup of this country’s first liquefied natural gas export facility after being caught off guard by the dramatic increase in drilling following the opening of the Trans Mountain…

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