U.S. natural gas futures retreated on Tuesday as traders booked profits, though the market looked set for its biggest annual jump since 2016 fueled by an increase in gas flowing to liquefied natural gas (LNG) export plants on rising overseas demand. Front-month gas futures for February delivery on the New York Mercantile Exchange were 19.1 … Read more
U.S. natural gas futures retreated on Tuesday as traders booked profits, though the market looked set for its biggest annual jump since 2016 fueled by an increase in gas flowing to liquefied natural gas (LNG) export plants on rising overseas demand. Front-month gas futures for February delivery on the New York Mercantile Exchange were 19.1 … Read more
Summary • Ukraine gas transit deal expires on Jan. 1 • European gas price reaction is muted • Russia lost EU gas markets to US, Norway, Qatar • EU industrial decline exacerbated by loss of Russian gas (Reuters) – Russian energy company Gazprom said it would pump a reduced volume of gas to Europe via … Read more
Reuters – Oil prices were on track to end 2024 with a second consecutive year of losses, although they rose on the day on Tuesday after data showed China’s manufacturing activity expanded in December. Brent crude futures rose by 54 cents, or 0.73%, to $74.53 a barrel as of 1107 GMT. U.S. West Texas Intermediate … Read more
Twice a year, XI Technologies reaches into the public data stored in its applications to highlight the top companies who achieved the most successful production from new wells. To compare these results against previous years, check out our Production Top 10s blog history. Top operators for “productive” drilling More important than the number of wells drilled, … Read more
Russia pumped gas on Monday to European customers via Ukraine for one of the last days before a key transit deal expires at the end of the year, marking the almost complete loss of Russia’s once mighty hold over the European gas market. Supplies of Russian gas via Ukraine are due to stop from the … Read more
(Reuters) – Oil prices edged up on Monday in thin holiday trade at the end of the year, as traders awaited more Chinese and U.S. economic data later this week to assess growth in the world’s two largest oil consumers. Brent crude futures rose 20 cents to $74.37 a barrel by 1208 GMT. The more … Read more
Turbomachinery, like any other industrial equipment, starts to degrade with age. Spare parts, expertise, and support become harder to find and come at a high price. Declining performance leads to problems with reliability, resulting in downtime and unplanned outages, inefficiencies, potential safety risks, and of course increased costs and reduced revenues. Companies are then faced … Read more
Summary European majors slow clean energy investments Investors rewarding oil and gas focus New Trump U.S. presidency among big factors in 2025 (Reuters) – Major European energy companies doubled down on oil and gas in 2024 to focus on near-term profits, slowing down – and at times reversing – climate commitments in a shift that … Read more
U.S. energy firms this week operated the same number of oil and natural gas rigs for third week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, was unchanged at 589 in the week to Dec. … Read more
Pipeline front-end engineering and design to be complete by end of year By Will Gibson Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo courtesy Pathways Alliance Canada’s largest oil sands companies continue to advance a major proposed carbon capture and storage (CCS) network in northeast Alberta, including … Read more
Summary • US crude oil stocks fell 4.2 million barrels last week, EIA says • Analysts polled by Reuters expected 1.9 million-barrel draw • Stimulus measures lift optimism over Chinese economy • Rising Russia-Ukraine tensions raise fears of supply shocks in 2025 (Reuters) – Oil prices settled more than 1% higher on Friday and recorded … Read more
Pilita Clark Read More from Financial Post Energy Here It’s not just Trump — elections around the world may produce a new crop of net zero critics in 2025.He told me his U.S. team had adopted the same communications guidelines the group used in China, where independent research groups tread carefully to avoid rattling Beijing’s … Read more
The next decline in crude oil prices should trigger a new long-term buy signal. Normally just one of the three signals we watch is sufficient for us to send out BUY recommendations. This is what happened in September (September 10th) when WTI fell to US$66/b and we sent out an Action BUY signal and … Read more
Summary • China to ramp up fiscal support next year • US crude stocks down 3.2 million barrels, market sources say • Strong dollar caps gains • Coming up: EIA supply report on Friday (Reuters) – Oil rose almost 1% on Friday and was on track for a weekly gain, spurred by expectations of a … Read more
Tegan Hill As Albertans look toward a new year, it’s worth reviewing the state of provincial finances. When delivering news last month of a projected $4.6 billion budget surplus for fiscal year 2024/25, the Smith government simultaneously warned Albertans that a budget deficit could be looming. Confused? A $4.6 billion budget surplus sounds like good … Read more
(Reuters) – New York state will fine fossil fuel companies a total of $75 billion over the next 25 years to pay for damage caused to the climate under a bill Governor Kathy Hochul signed into law on Thursday. The law is intended to shift some of the recovery and adaptation costs of climate change … Read more
More From Irina Slav I was going to wrap this eventful year with a nice little post of gratitude but, as usual, the news flow has forced me to revise my plans. So much has happened in the last week days failing to report on it would be a real shame. You may want to … Read more
Summary • API shows US crude stocks fall 3.2 million barrels, sources say • China to ramp up fiscal support for consumption next year • World Bank raises China’s GDP forecast for 2024, 2025 • Coming up: EIA supply report on Friday (Reuters) – Oil edged higher on Thursday in thin holiday trade driven by … Read more
EDMONTON — Alberta Premier Danielle Smith is eager to show that her government can finally put the pieces of a dismantled provincial health-care system back together again in the new year.
In a recent year-end interview, Smith said work that began in …
Halting the progress made toward an energy transition is high on the next White House’s agenda. By Liam Denning The energy transition sustained an electoral trauma as 2024 drew to a close. The incoming administration of President-elect Donald Trump promises to undo at least some of the progress made on decarbonization under President Joe Biden. But … Read more
(Reuters) – Oil prices rose on Tuesday, reversing the prior session’s losses, buoyed by a slightly positive market outlook for the short term, despite thin trade ahead of the Christmas holiday. Brent crude futures were up 36 cents, or 0.5%, at $72.9 a barrel, and U.S. West Texas Intermediate crude futures rose 34 cents, also … Read more
OTTAWA — Statistics Canada says the economy grew 0.3 per cent in October, helped by strength in the mining, quarrying, and oil and gas extraction sector, following a 0.2 per cent increase in September.
The agency says the growth came as services-produ…
VANCOUVER, BC, Dec. 23, 2024 /CNW/ — Steelhead LNG, a Vancouver-based developer in the liquefied natural gas (LNG) industry, today announced the filing of new legal proceedings against Cedar LNG, Pembina Pipeline Corporation and ARC Resources Ltd. in British Columbia in relation to the Cedar LNG Project. Steelhead LNG alleges in this new claim that each of the defendants wilfully and improperly exploited information … Read more
Calgary, Alberta–(Newsfile Corp. – December 23, 2024) – Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) (“Greenfire” or the “Company”), today announced a reconstitution of Greenfire’s Board of Directors (the “Board”), the termination of the amended and restated Shareholder Rights Plan dated December 7, 2024 (the “Second Rights Plan”) and the acquisition of additional Greenfire Securities by Waterous … Read more
CALGARY, AB, Dec. 23, 2024 /CNW/ – AltaGas Ltd. (“AltaGas” or the “Company”) (TSX: ALA) is pleased to provide a year-end update on global exports tolling and commercial contracting activities. One of the Company’s strategic priorities is to advance commercial de-risking of our Midstream business with increased global exports tolling and additional long-term commercial contracting across the value chain. AltaGas has … Read more
BURNABY, B.C. — A union representing striking aviation fuel workers in British Columbia is warning that diversion of the fuel to get around the industrial action could pose an environmental hazard.
ILWU Local 502 says fuel from a tanker ship was dive…
CALGARY, Alberta–(BUSINESS WIRE)–STEP Energy Services Ltd. (“STEP”) (TSX: STEP) announces that effective December 19, 2024, STEP, 2659160 Alberta Ltd. and the limited partnerships comprising ARC Energy Fund 8 (a private equity fund advised by ARC Financial Corp.) have entered into a termination agreement that mutually terminates the arrangement agreement originally entered into on November 3, … Read more
Russian President Vladimir Putin met Slovak Prime Minister Robert Fico in the Kremlin on Sunday, a rare visit by a European Union leader to Moscow as a contract allowing for Russian gas to transit through Ukraine nears expiry. Ukrainian President Volodymyr Zelenskiy had said on Thursday that Kyiv could consider continued transit of Russian gas, … Read more
CALGARY, AB: CBC President and CEO Catherine Tait tops the Taxpayer Naughty List for dishing out executive bonuses that cost more than the average Canadian worker makes in a year. “Santa doesn’t like it when girls and boys are greedy, and forcing struggling taxpayers to pay for Santa-sized executive bonuses is as greedy as it gets,” said Franco Terrazzano, CTF … Read more
TORONTO — Canada’s main stock index pushed higher to end Monday up almost 150 points on light trading action, while U.S. stock markets also gained ahead of the Christmas break.
“Today is a quiet pre-Christmas Day of trading,” said Kevin Burkett, a por…
WINNIPEG — The Manitoba government is ending its yearlong fuel tax holiday but bringing back the levy at a lower rate.
The government temporarily suspended the 14-cents-a-litre tax on gasoline and diesel at the beginning of 2024 as a way to help peopl…
Russia-Ukraine gas transit deal expires at end of year Ukraine has refused to extend the agreement Russia willing to continue delivering gas via Ukraine Slovakia says loss of supplies from east would drive up prices MOSCOW, Dec 23 (Reuters) – Russia said on Monday the situation with European countries that buy its gas through a … Read more
Calgary, Alberta–(Newsfile Corp. – December 23, 2024) – Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (“Journey” or the “Company“) announces that it has posted a new corporate presentation on the Company’s website at www.journeyenergy.ca. The presentation is also available at www.sedarplus.ca. Journey plans on providing 2025 guidance prior to the end of January, 2025. About the Company … Read more
CALGARY, AB, Dec. 23, 2024 /PRNewswire/ – Vermilion Energy Inc. (“Vermilion”, or the “Company”) (TSX: VET) (NYSE: VET) is pleased to announce it has entered into an arrangement agreement (the “Arrangement Agreement”) to acquire Westbrick Energy Ltd. (“Westbrick”), a privately held oil and gas company operating in the Deep Basin, for total consideration of $1.075 billion by way of … Read more
Boiler operation is at the heart of many processes within the Canadian energy industry, from petrochemical plants to power generation facilities. Mechanical engineers, process control professionals, and instrumentation specialists face the constant challenge of maintaining safety and efficiency in high-pressure environments. One critical aspect of boiler management is ensuring accurate and reliable level measurement, especially … Read more
By Reuters (Reuters) – U.S. utilities are finally signing concrete supply deals with data-center operators as the artificial-intelligence wave sparks a surge in power demand, paving the way for higher profits in the coming quarters. Data centers are expected to account for 8% of the power generated in the U.S. by 2030, compared with 3% in … Read more
Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 37 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
Summary • Renewed hope on rate cuts after a benign inflation reading • Market surplus to drag down oil prices in 2025 (Reuters) – Oil prices stabilised on Monday after losses last week as lower-than-expected U.S. inflation data offset investors’ concerns about a supply surplus next year. Brent crude futures were down by 17 cents, … Read more
Canada inches away from first large-scale LNG exports By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Taiwan Semiconductor Manufacturing Company’s campus in Nanjing, China. Photo courtesy TSMC The world’s leading producer of semiconductor chips wants access to Canadian energy as demand for artificial intelligence (AI) rapidly … Read more
CALGARY — Vermilion Energy Inc. raised its dividend as it outlined a capital spending plan of $600 million to $625 million for 2025.
The company says it will pay a quarterly dividend of 13 cents per share, up a penny from 12 cents per share.
Vermilion…
il companies see Trump as a staunch ally, but some of his proposals threaten their profits Bloomberg News Oil industry heavyweights are lobbying U.S. President-elect Donald Trump’s incoming administration to make good on promises to bolster U.S. energy dominance by offering more drilling opportunities, dialling back environmental regulations and insulating the sector from tariffs. The proposals are … Read more
(Reuters) – U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for the 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, remained at 589 in the week … Read more
Ramping up purchases faces numerous practical constraints, not least the country’s limited supply. There’s no quick fix for incoming President Donald Trump’s demand that European nations buy more American oil and gas. He insisted that the European Union make “large-scale purchases” of US hydrocarbons to “make up their tremendous deficit with the United States” or face “TARIFFS … Read more
(Reuters) – It’s been a brutal year to be in the battery metals business. Prices of lithium, nickel and cobalt collapsed in 2023 and have continued grinding steadily lower over the course of 2024. A sector that was once racing to build new supply has been closing mines and deferring projects as low prices bite … Read more
Calgary, Alberta–(Newsfile Corp. – December 20, 2024) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) today announced that it has closed the sale of its Kerrobert thermal asset located in southwest Saskatchewan, for net proceeds of approximately $42 million. Production from the asset is approximately 2,000 bbl/d (100% heavy oil). The non-core disposition further streamlines … Read more
‘The Liberals don’t deserve another chance,’ NDP leader says in letter NDP Leader Jagmeet Singh says his party will bring forward a motion of non-confidence to bring down the Trudeau government in the next sitting of the House of Commons. “The Liberals don’t deserve another chance,” Singh wrote in a letter on Friday. “That’s why … Read more
By Reuters Summary Trump has threatened to claw back unspent IRA money Electric vehicle rebates, gas emissions under fire Wind, solar may be untouched (Reuters) – President-elect Donald Trump has vowed to repeal Joe Biden’s signature climate bill called the Inflation Reduction Act, which initially aimed at some $400 billion in new spending and tax cuts … Read more
Summary Companies US has become world’s biggest exporter of LNG Natural gas prices in Europe spiked after invasion of Ukraine New LNG export plants seen coming on line next year (Reuters) – Demand for U.S. natural gas to produce liquefied natural gas (LNG) for export this year is headed for its first decline since the … Read more
Summary • Benchmark prices ease 2.5% for the week • Dollar on track for third consecutive week of gains • Fed policymakers prepare ground for rate-cut pause in 2025 • Sinopec says China’s crude imports may peak next year • Trump warns EU on tariffs if bloc doesn’t buy more US oil, gas (Reuters) – … Read more
Summary Trump says EU has tremendous trade deficit with the US Europe is already buying large chunk of US oil and gas US already exporting all energy it doesn’t consume at home EU says ready to discuss trade ties, including energy Dec 20 (Reuters) – U.S. President-elect Donald Trump said on Friday that the European Union may … Read more
LETHBRIDGE, AB: The Canadian Taxpayers Federation released its annual New Year’s Tax Changes report today to highlight major tax changes in 2025. The key provincial tax change expected for Alberta is a reduction in the income tax rate. “The Alberta government promised to reduce our lowest income tax bracket from 10 down to eight per cent … Read more
Summary Benchmark contracts head for weekly loss of nearly 3% Sinopec sees China’s crude imports possibly peaking in 2025 Trump wants EU to buy more US oil, gas or face tariffs LONDON, Dec 20 (Reuters) – Oil prices fell on Friday on worries about demand growth in 2025, especially in top crude importer China, putting … Read more
By Steven Globerman and Lawrence Schembri The Bank of Canada’s decision last week to lower its policy rate by 50 basis points increases the gap between the U.S. Federal Reserve’s policy rate and the Bank of Canada’s rate to approximately 130 basis points. While this gap might close somewhat if the Federal Reserve lowers its rate at … Read more
CALGARY, AB, Dec. 19, 2024 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce that on December 19, 2024 (the “Closing”), the Company disposed of its gas weighted non-core assets in the Valhalla area of Alberta (the “Non-Core Assets”) for cash proceeds of $9.5 million (the “Transaction”). Additionally, the purchaser has assumed all future abandonment and reclamation obligations (“ARO”) pertaining … Read more
JP Morgan on Thursday forecast Brent oil prices to decline to $73 per barrel in 2025, as it sees a shift in the global oil market from a balance in 2024 to a large 1.2 million barrels per day (bpd) surplus in the coming year. “Assuming that OPEC alliance stays put at current production levels … Read more
(Bloomberg) The oil market, range-bound for much of the past two months, feels ready for a holiday reset. After a period of tumult in early autumn, volatility ebbed as direct fire between Iran and Israel eased off, and benchmark futures have been locked in a band of about $6. OPEC+’s recent decision to push back … Read more
Summary Brent and WTI edge down U.S. Fed outlook for two rate cuts in 2025 stirs demand worries Global oil demand growth running below JP Morgan forecast Dec 19 (Reuters) – Oil prices were fairly steady on Thursday after the U.S. Federal Reserve signalled it would slow the pace of interest rate cuts in 2025, … Read more
Calgary, Alberta–(Newsfile Corp. – December 18, 2024) – As previously announced by Gear Energy Ltd. (TSX: GXE) (OTCQX: GENGF) (“Gear” or the “Company”), the Company has entered into an arrangement agreement pursuant to which a large publicly traded company will acquire Gear including its heavy oil assets for $110 million in cash (subject to adjustments) and … Read more
A Montreal-based company building a Canadian test site for carbon removal technologies has received a US$40-million grant from Bill Gates’ climate solutions venture firm.
Canadian startup Deep Sky announced Wednesday it was awarded the grant from Brea…
OTTAWA — The federal government has pushed its target to achieve a net-zero electricity grid back 15 years to 2050 as part of new clean electricity regulations announced Tuesday — though officials maintain that target date was always the goal.
Canada …
CALGARY, Alberta, Dec. 18, 2024 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) (TSX:PPR) is pleased to provide an update on its first two Basal Quartz wells in the Michichi area of Central Alberta. Prairie Provident spud the first Basal Quartz horizontal well, 102/03-19-030-18W4, on October 15, 2024. Following the nine-day drilling operation, … Read more
Paramount Resources Ltd. Announces Planned Post-Transaction Special Distribution, Dividend Policy and Guidance CALGARY, AB, Dec. 18, 2024 /CNW/ – Paramount Resources Ltd. (“Paramount” or the “Company”) (TSX: POU) is pleased to announce its plans, subject to shareholder approval, for a $15.00 per share special distribution to the holders (the “Shareholders”) of its class A common shares (the “Common Shares”) following the … Read more
By Jake Fuss and Grady Munro Hours after Chrystia Freeland resigned as finance minister and left cabinet on Monday, the Trudeau government presented its 2024 Fall Economic Statement (FES) to the House of Commons. The statement provides an update on government finances and the budget plan the government introduced earlier this year. And once again, this government has violated … Read more
CALGARY, Alberta, Dec. 18, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSX.V: PEI, OTC: GXRFF) (“Prospera“, “PEI” or the “Corporation“) Loan Amendment Update The Corporation announces that it has amended its $11,000,000 promissory note, originally dated July 7, 2024, in collaboration with its principal lender. The principal balance, which was previously increased by $500,000 to $11,500,000, has now been … Read more
CALGARY, Alberta, Dec. 18, 2024 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (TSX:NVA, “NVA” or the “Corporation”) advises that it temporarily curtailed production in the greater Wapiti area due to unscheduled maintenance at a third-party gas plant impacting December production volumes. Prior to this temporary impact, NuVista’s production was in line with fourth quarter guidance, averaging over … Read more
The Quebec government has invested $177 million in Lion so far, and the federal government, $30 million Bloomberg News Lion Electric Co. Lion’s market capitalization, which was as high as US$4.2 billion in 2021, has dropped by 86 per cent this year to US$57 million. Photo by Christinne Muschi/THE CANADIAN PRESS files Quebec committed billions of … Read more
(Reuters Breakingviews) – On the face of it, 2025 is shaping up to be a stinker for renewable energy. The planet seems ever further from restricting global warming to a manageable 1.5 degrees Celsius level, and the election of Donald Trump as U.S. president means that the world’s biggest economy will visibly retreat from the … Read more
Summary Guards get around half of Iran’s oil export revenue, sources say China remains top buyer of Iranian oil, including from IRGC Oil trading network set up by late Quds Force boss Qassem Soleimani (Reuters) – Iran’s Revolutionary Guards have tightened their grip on the country’s oil industry and control up to half the exports … Read more
Mopeds, motorcycles, and emergency vehicles are exempt from the rules, along with vehicles used by rental companies The Canadian Press The Quebec government has adopted regulations banning the sale of most new gasoline-powered vehicles as of 2035. The rules, adopted Monday, applies to all “light-duty” vehicles, which the province describes as cars, light trucks, pickup trucks, and most SUVs. … Read more
Summary Federal Reserve rate outlook in focus API shows weekly US crude stocks fall, sources say EU tightens sanctions on Russian oil shipping To come: US EIA oil stocks data Dec 18 (Reuters) – Oil prices rose slightly on Wednesday as investors stayed cautious ahead of a potential interest rate cut by the U.S. Federal … Read more
Summary Federal Reserve rate outlook in focus API shows weekly US crude stocks fall, sources say EU tightens sanctions on Russian oil shipping To come: US EIA oil stocks data Dec 18 (Reuters) – Oil prices rose slightly on Wednesday as investors stayed cautious ahead of a potential interest rate cut by the U.S. Federal … Read more
VANCOUVER — The company behind what will be Canada’s first major liquefied natural gas export facility has appointed a new CEO.
LNG Canada says Chris Cooper will succeed current chief executive Jason Klein, effective April 1, 2025.
Cooper is LNG Canad…
CALGARY — Parkland Corp. says its current chief financial officer Marcel Teunissen will assume the role of president for North America effective Jan. 1.
The fuel and convenience store retailer says Teunissen will be responsible for the company’s Canad…
The US president-elect’s support for tariffs raises concerns about a trade war eroding demand, while others welcome an injection of volatility. The oil traders swarming Miami’s South Beach for three days of holiday drinking, dining and schmoozing were mostly male, mostly White and mostly united in the belief that Donald Trump will champion the industry … Read more
Trump followed a similar path during his first term in office with day-one directives meant to advance construction of oil pipelines and aid in deregulation Bloomberg News Donald Trump telegraphed similar ambitions on the campaign trail, vowing to “unleash domestic energy production like never before”. Photo by Alex Brandon/AP Photo files United States president-elect Donald Trump is poised … Read more
Following the sudden departure of Chrystia Freeland as finance minister, the Trudeau government released its 2024 fall fiscal update on Monday. Unsurprisingly, spending is up, the deficit has ballooned even higher, and the Trudeau government continues to utterly mismanage Canada’s finances. Let’s get into the numbers. For the current fiscal year (2024-25), the update estimates the federal government will spend … Read more
CALGARY, Alberta, Dec. 17, 2024 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today announced the upcoming retirement of W. Byron Dunn and Michael A. Weill from its Board of Directors, effective January 1, 2025, pursuant to the term limits set in the Company’s Board Retirement Policy. Kevin Reinhart, Enerflex’s … Read more
(Reuters) – The administration of U.S. President Joe Biden released a long-awaited study on the economic and environmental impacts of liquefied natural gas exports on Tuesday, saying the results underscored the need for a cautious approach to new permits. Biden in January had paused the Department of Energy’s approvals of U.S. LNG exports to big … Read more
British Columbia’s new finance minister said she is “realistic” about the economic challenges facing the province after announcing this year’s record deficit is projected to reach $9.4 billion.
Brenda Bailey said Tuesday that the forecasted deficit fo…
CALGARY, Alberta, Dec. 17, 2024 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) is pleased to announce that Gran Tierra (by way of its wholly-owned subsidiary) has completed its previously announced strategic joint venture transaction and partnership (the “Transaction”) with Logan Energy Corp. (“Logan”) (TSXV:LGN). Pursuant to the Transaction, Gran Tierra and Logan entered … Read more
CALGARY, AB, Dec. 17, 2024 /CNW/ – Logan Energy Corp. (TSXV: LGN) (“Logan” or the “Company“) is pleased to announce the closing of its previously announced acquisition of an operated 50% working interest in certain assets located in the Company’s core area at Simonette, Alberta, and a 100% interest in certain Simonette gross overriding royalties, for a cash purchase price … Read more
CALGARY, ALBERTA–(Newsfile Corp. – December 17, 2024) – Tenaz Energy Corp. (“Tenaz”, “Our”) (TSX: TNZ) is pleased to announce its 2025 guidance, prior to the closing of the acquisition of NAM Offshore BV (“NOBV”). Tenaz will update its 2025 guidance reflecting additional investment and production from NOBV after closing, which is projected to occur at mid-year 2025 … Read more
By Gavin Maguire (Reuters) – U.S. liquefied natural gas exports are on track to climb to new highs in 2024, as record domestic natural gas production spurred the 10th straight year of volume growth in the lucrative LNG export sector. U.S. LNG shipments for 2024 look set to hit 86.9 million metric tons, according to ship-tracking … Read more
Summary Oil under pressure on China spending data, profit-taking Market has priced in 25 bp Fed rate cut Impact of new EU sanctions on Russia may be low -analyst LONDON, Dec 17 (Reuters) – Oil prices were down on Tuesday as China’s economic data renewed demand concerns, while investors remained cautious ahead of the U.S. … Read more
ISS cites “significant premium” and “certain and immediate value” in endorsing the Arrangement Basis for Glass Lewis endorsement includes recognition of “considerable” negotiation process STEP Shareholders are encouraged to vote in advance of the proxy deadline of December 17, 2024 at 10:00 a.m. (Mountain time) The Canada Post service disruption may cause Canadian STEP Shareholders … Read more
Calgary, Alberta–(Newsfile Corp. – December 16, 2024) – Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) (“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 provide our 2025 development capital budget and annual guidance, along with an operational update and Saturn’s … Read more
In the energy industry, the role of project sponsors is to champion project managers and their teams to help them deliver successful projects. Unfortunately, some project sponsors willfully neglect their role. They’re motivated by the worst energy executive instincts that include: Political one-upmanship. Running away at the slightest sign of project difficulty. Burnishing their reputations … Read more
By Resource Works More News and Views From Resource Works Here 25 percent tariffs on our oil would drive up American gasoline prices by 50 cents per gallon or more. No wonder federal and provincial governments are howling over Donald Trump’s promise to levy a 25 percent tariff on “all” imports from Canada and … Read more
OTTAWA, ON: The Canadian Taxpayers Federation is demanding spending cuts after the federal government broke through its own budget guardrail by running massive deficits and wasting $1 billion every week on debt interest charges as outlined in today’s Fall Economic Statement. “Prime Minister Justin Trudeau went $20 billion over budget with his deficit,” said Franco Terrazzano, CTF … Read more
VICTORIA — Human error during a fuel transfer at a fish farm off the west coast of British Columbia has resulted in a spill into the water of up to 8,000 litres of diesel.
The B.C. government said in a report on its website that the spill happened Sa…
By Nojoud Al Mallees The Canadian Press OTTAWA – The Liberals’ fiscal update was intended to encourage business investment and beef up border security ahead of Donald Trump’s return to the White House next month. But the sudden resignation of Finance Minister Chrystia Freeland hours before the document was tabled instead ignited even more political … Read more
CALGARY, AB, Dec. 16, 2024 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to provide an operational update for the fourth quarter of 2024. Our fourth quarter production is now forecast to average approximately 175,500 boe/d (65% liquids)1 compared to our previous guidance of 170,000 boe/d based on 2024 average production guidance of … Read more
(Reuters) – Canada’s Finance Minister Chrystia Freeland unexpectedly resigned on Monday, saying she was no longer on the same page with Prime Minister Justin Trudeau about the best path forward for Canada. Freeland quit just hours before she was due to present a fall economic update to parliament, a document widely expected to show the … Read more
CALGARY, AB, Dec. 16, 2024 /CNW/ – Kiwetinohk Energy Corp. (“Kiwetinohk” or the “Company”) (TSX: KEC) today provided its 2025 budget, 2026 outlook and a fourth quarter operational update. Message to shareholders “In 2024 Kiwetinohk is expected to deliver almost 20% production growth while maintaining one of the strongest operating netbacks in our peer group. Looking ahead to 2025, we’re … Read more
HIGHLIGHTS Following closing, acquisition of Lucero is expected to be immediately accretive to Vitesse’s earnings, operating cash flow, free cash flow and net asset value Subject to board approval and closing the transaction, Vitesse expects to increase its cash dividend from $2.10 to $2.25 per share on an annualized basis Upon closing, this acquisition strengthens Vitesse’s financial position with … Read more
2025 Adjusted EBITDA1 of $510 – $540 million Two strategic acquisitions in the metals recycling business, totaling $175 million, expected to close Q1 2025, strengthening our position as a leader in waste management and resource recovery 2025 organic growth capital of approximately $75 million related to high-value waste and energy infrastructure projects Maximized allowable repurchases under the NCIB that commenced in December 2023 … Read more
Summary Norway oil, gas firms to invest $25 bln in 2025 Investment forecasts raised since last year Inflation, accelerated development, more drilling drive increase Highest number of exploration wells since 2019 OSLO, Dec 16 (Reuters) – Oil and gas companies operating in Norway expect to invest a record 275 billion Norwegian crowns ($24.68 billion) in … Read more
Summary Trump plans to cut EV support, impose tariffs on battery materials Proposals aim to boost U.S. production, redirect funds to national defense Transition team suggests rolling back emissions standards, blocking California’s stricter rules Dec 16 (Reuters) – Incoming U.S. President Donald Trump’s transition team is recommending sweeping changes to cut off support for electric vehicles … Read more
Summary Brent and WTI fall by nearly 1% China’s consumer spending data falls short of expectations US Federal Reserve expected to cut interest rates this week Dec 16 (Reuters) – Oil futures dropped from their highest levels in weeks on Monday, pressured by weaker than expected consumer spending in China, the world’s largest oil importer. … Read more
Reuters Breakingviews – Donald Trump and Mohammed bin Salman each have contradictory objectives in 2025. The U.S. president-elect wants to apply “maximum pressure” on Iran, but won’t want the spike in oil prices that may accompany it. The Saudi crown prince is sick of forgoing oil revenue by pumping 3 million barrels below his 12 … Read more
TORONTO — Canada’s premiers are meeting in Toronto today, and cross-border trade is topping the agenda, on the heels of a tariff threat from U.S. president-elect Donald Trump.
Trump is threatening to impose a 25 per cent import tariff on goods coming …
Winter construction can be tough, but your projects don’t have to grind to a halt when the temperature drops. Harsh weather, frozen subgrades and compaction challenges can test the limits of traditional construction, while excessive moisture can lead to foundational failure during spring thaw. Standard methods like heating and hoarding are time-consuming and costly, often … Read more
Safety is paramount in the energy industry, where hazardous processes and materials demand thorough risk management. A key component of ensuring safety in chemical processing facilities is conducting Hazard and Operability Studies (HAZOP). These studies identify potential risks and guide teams in implementing safeguards to mitigate those risks. However, traditional HAZOP processes can be time-consuming, … Read more
According to a new report by GlobalData, the global digital twins market is set to hit over $150 billion by 2030. In the early days of the technology, digital twins were used in capital-intensive operations to streamline processes, save money, and control emissions. Since then, companies have seen the benefits of making digital twins of entire operations, including … Read more
In this issue of IGNITE, Scovan explores the challenges and opportunities energy companies face, showcasing examples where carbon capture is reducing the carbon footprint of traditional operations, where RNG is spearheading cleaner energy, and other innovations. The discussion highlights strategic approaches, technological advancements, and policy impacts driving this dual-path integration within the energy sector. https://scovan.ca/ignite-v9/
I’m Christine Dobby, Bloomberg’s Toronto-based banking reporter, and you’ll find me in your inbox every Friday. This week, we’re talking with CIBC’s chief executive officer, visiting the billionaire behind fashion retailer Groupe Dynamite and learning the secrets of short sellers. Plus, how many Canadian families made this year’s list of the top 25 richest in the world? … Read more
EDMONTON — Calgary-based pipeline giant Enbridge says it has cleaned up about 60 per cent of a nearly 265,000-litre oil spill in Wisconsin that was discovered last month.
Enbridge says the spill was discovered by an employee conducting a visual inspec…
Ottawa and the provinces will respond robustly if the incoming U.S. administration goes ahead with a promise to impose tariffs on imports from Canada, Finance Minister Chrystia Freeland said on Friday. Prime Minister Justin Trudeau, Freeland and the 10 provincial premiers have held two phone calls recently to discuss how best to react if President-elect … Read more
‘The Oil Sands are Canada’s Winning Lottery Ticket’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter As Alberta’s oil sands sector reaches a major economic milestone, a new report shows that emissions growth continues to slow. There is a clear “structural break” for the industry where … Read more
(Reuters) – U.S. energy firms this week operated the same number of oil and natural gas rigs as they did last week, 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, was unchanged at 589 in the week to … Read more
Industry looking for 75% tax credit rather than combined 62% on offer from Feds and Alberta Bloomberg News Robert Tuttle Imperial Oil Ltd., the Canadian oilsands unit of Exxon Mobil Corp., is calling for more government funding for the nation’s industry, which is embarking on a $16 billion endeavour to deploy carbon capture and storage technology and slash emissions … Read more
My interview with Kimberly Guilfoyle Kimberly Guilfoyle recently interviewed me on what I think the incoming administration, including some promising new political appointees, can do to unleash American energy. The full video and transcript are below. As a preview, here’s what I view as the top 5 energy policy priorities: Liberate responsible energy development End … Read more
by Maureen McCall The inside scoop on Tourmaline M&A activity and Macro Natural Gas trends with Jamie Heard VP of capital markets at Tourmaline Oil Corp Tourmaline Oil Corp. is Canada’s largest natural gas producer and there is no room for debate that they have an aggressive exploration, development, production and acquisition program in the Western Canadian … Read more
It looks easy enough: Ask ChatGPT something, and it responds. But pull back the curtain, and you’ll find that every ChatGPT prompt and Microsoft Copilot task consumes vast resources. Millions of human beings engineering, correcting and training models. Enough terawatt-hours of electricity to power countries. Data center megacampuses around the world. Power line networks and … Read more
No intention to increase consideration to be paid from $5.00 per STEP Share No indication of a competing transaction from any third party No intention by ARC to support any alternative transaction to acquire STEP Shares If vote were held today the transaction would be unsuccessful CALGARY, AB, Dec. 13, 2024 /CNW/ – On November … Read more
Summary EU imposes new sanctions on Russia, US weighs more China stimulus expected to support demand U.S. Federal Reserve expected to cut interest rates (Reuters) – Oil prices climbed about 2% on Friday to settle at a three-week high, on expectations that additional sanctions on Russia and Iran could tighten supplies and that lower interest … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Friday: * WCS for January delivery in Hardisty, Alberta, settled at $12.20 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at $12.55 a barrel under the U.S. benchmark on Thursday. * … Read more
The Oil and Gas Emissions Cap Policy Much ink has been spilt over the Liberals’ announced attempt to cap emissions from the oil and gas industry by 35% below 2019 levels by 2030 The oil and gas industry, along with the provincial regulators, have clearly responded that such a cap is a de facto ‘cut’ … Read more
Three of Canada’s biggest oil producers, Suncor Energy, Cenovus Energy and Imperial Oil, on Thursday projected higher production in 2025, betting on resilient demand for Canadian crude in U.S. and international markets. Fuel demand in the United States, the biggest destination for Canadian crude, is expected to rise next year as U.S. industrial activity will likely benefit from a … Read more
CALGARY, Alberta, Dec. 13, 2024 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) is pleased to announce that it has completed its previously announced upsized bought-deal equity financing (the Equity Financing) of common shares, conducted by a syndicate of underwriters co-led by RBC Capital Markets, CIBC Capital Markets and TD Securities Inc. as joint … Read more
No intention to increase consideration to be paid from $5.00 per STEP Share No indication of a competing transaction from any third party No intention by ARC to support any alternative transaction to acquire STEP Shares If vote were held today the transaction would be unsuccessful CALGARY, AB, Dec. 13, 2024 /CNW/ – On November 4, … Read more
‘The economics of this industry don’t make sense,’ CEO says Industry facing higher costs, weak prices and slowing demand GE Vernova Inc., the maker of the biggest offshore wind turbines in the Western hemisphere, sees grim prospects for a beleaguered industry that’s facing slowing demand and weak pricing. “The reality is, the economics of this … Read more
Summary Brent, WTI both up more than 3% this week EU imposes new sanctions on Russia, US also weighs more China stimulus expected to support demand IEA forecasts a supply surplus in 2025 LONDON, Dec 13 (Reuters) – Oil prices rose more than 1% Friday, heading for their first weekly rise since the end of … Read more
Summary Geothermal energy in its infancy Shale drilling drew opposition from environmental campaigners More than $1 trillion in investment needed (Reuters) – The shale drilling techniques that led to a boom in oil and gas output have also spurred the development of geothermal, which in theory could provide a stable source of power equal to … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) edged wider on Thursday: * WCS for January delivery in Hardisty, Alberta, settled at $12.55 a barrel under the WTI benchmark on Thursday, according to brokerage CalRock, having settled at $12.45 a barrel under the U.S. benchmark … Read more
National Coalition of Chiefs founder Dale Swampy says Canada needs a more sustainable strategy for reducing emissions By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Dale Swampy, founder of the National Coalition of Chiefs. Photograph for Canadian Energy Centre The head of the National Coalition … Read more
CALGARY, Alberta, Dec. 12, 2024 (GLOBE NEWSWIRE) — Razor Energy Corp. (“Razor Energy”, and together with its wholly-owned subsidiaries, Blade Energy Services Corp. and Razor Holdings GP Corp., collectively, the “the Corporation”) announces that it has closed the previously announced sale transaction and ancillary steps (collectively, the “Transaction”) pursuant to a Subscription Agreement, dated October 27, 2024, … Read more
All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to certain financial measures that are not specified, defined or determined in accordance with Generally Accepted Accounting Principles (“GAAP”), including adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”). For more information see “Non-GAAP and Other Financial Measures” … Read more
CALGARY, AB, Dec. 12, 2024 /CNW/ – Bonterra Energy Corp. (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce its 2025 preliminary budget, and an operations update. PRELIMINARY 2025 BUDGET1: MAXIMIZING FREE FUNDS FLOW5 Following a pivotal year in 2024, during which Bonterra added depth and quality to its drilling prospects through land acquisitions and experienced exploration success … Read more
CALGARY — Suncor Energy Inc. is aiming to increase its oil output next year by up to five per cent, as it continues to work to improve its performance and lower costs from its oilsands assets.
In its corporate guidance for 2025, released Thursday, the…
Trump’s proposed EV subsidy cuts and tariffs could upend BC’s electric vehicle goals. By Resource Works More News and Views From Resource Works Here Canada’s regime of electric vehicle subsidies is facing a crisis with United States President-elect Donald Trump’s promise to end his own country’s EV incentives. Trump has proposed eliminating the $7,500 USD tax credit … Read more
Calgary, Alberta–(Newsfile Corp. – December 12, 2024) – Cardinal Energy Ltd. (TSX: CJ) (“Cardinal” or the “Company“) announces it has entered into an agreement with its syndicate of lenders to redetermine and increase its credit facilities (“Facilities”). The Facilities were increased to $275 million (previously $200 million) while the revolving period and maturity date remain the … Read more
While tariffs can be disruptive in any market, they threaten to be particularly troublesome for a North American energy industry that already largely favors U.S. interests Bloomberg News Though U.S. president-elect Donald Trump exempted energy products from tariffs during his previous term, his threat last month said they will apply to “ALL products” from … Read more
Original: https://www.msn.com/en-ca/news/other/stephen-buffalo-how-does-the-emissions-cap-affect-first-nations-no-one-cares/ar-AA1vACu1 The hits to First Nations oil and gas producers keep coming from Ottawa. The first hit was the “greenwashing” bill, which tries to silence those who speak out in favour of oil and gas production. Now, the government is threatening an emissions cap that will likely further suppress investment in new oil production, … Read more
Canada’s third-most populous province is giving the go-ahead to wind farms Bloomberg News Canada’s third-most populous province is giving the go-ahead to wind farms worth as much as $6 billion. The electricity company BC Hydro, owned by the west coast province of British Columbia, awarded 30-year purchase agreements to nine projects promising almost 5,000 gigawatt hours per year … Read more
By: Ben Eisen In response to Donald Trump’s proposal to introduce sweeping new tariffs on goods coming from Canada, Ontario Premier Doug Ford compared the tariff threat to a “family member stabbing you right in the heart.” And he’s right. Sweeping tariffs from the U.S. would be devastating to Ontario’s economy. Ontario and Canada generally benefit greatly … Read more
(Reuters) – Canada’s Imperial Oil forecast higher crude production in 2025 on Thursday, as it expects to ramp up output from existing oil sands assets. The company, majority-owned by Exxon Mobil, expects higher production from its Kearl and Cold Lake oil sands assets in Alberta. Imperial forecast 2025 production in the range of 433,000 to … Read more
CALGARY, Alberta–(BUSINESS WIRE)–Imperial (TSE: IMO, NYSE American: IMO) today provided an update on its corporate guidance outlook for 2025. The company’s strategy remains focused on maximizing the value of its existing assets and progressing advantaged high-value growth opportunities while delivering industry-leading returns to shareholders. “Our 2025 plan builds on our momentum and positions the company … Read more
CALGARY, Alberta–(BUSINESS WIRE)–STEP Energy Services Ltd. (“STEP” or the “Company”) (TSX: STEP) is announcing its 2025 capital budget and is providing an operational and financial update. 2025 Capital Budget STEP is pleased to announce its full-year 2025 capital budget will be $78.9 million. The budget includes $46.7 million of optimization capital and $32.2 million of … Read more
December 12, 2024 8:36 AM EST | Source: Enterprise Group Inc. St. Albert, Alberta–(Newsfile Corp. – December 12, 2024) – Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the “Company” or “Enterprise Group”), a consolidator of services to the energy sector that is focused primarily on specialized equipment rental, is pleased to announce it has closed its previously announced bought … Read more
Summary Sees overhang of up to 1.4 million bpd in 2025 Sees higher 2025 demand growth on China stimulus Trims 2024 oil demand growth forecast by 80,000 bpd (Reuters) – The world oil market will be comfortably supplied in 2025, the International Energy Agency (IEA) said on Thursday, even after producer group OPEC+ extended oil supply … Read more
Summary IEA raises oil demand growth forecast for 2025 EU sanctions target ‘shadow fleet’ carrying Russian oil US gasoline, distillate stocks up more than expected last week (Reuters) – Oil prices were little changed on Thursday as a forecast for ample supply in the oil market offset optimism stemming from rising expectations of a U.S. … Read more
Nicolas Brunet held post for little more than a year Bloomberg News The president of Canadian electric bus and truck manufacturer Lion Electric Co. resigned as the cash-poor company made a last-ditch attempt to stay afloat. Nicolas Brunet stepped down from the post he’d held for little more than a year, according to a company filing to … Read more
All financial figures are in Canadian dollars, unless noted otherwise Calgary, Alberta–(Newsfile Corp. – December 12, 2024) – Suncor Energy (TSX: SU) (NYSE: SU) Growth in upstream consistent with plan to add over 100,000 bbls/d between 2023 and 2026 Increased refinery utilization reflecting stronger asset performance and market position Lower oil sands costs driven by productivity improvements … Read more
CALGARY, Alberta, Dec. 12, 2024 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its 2025 corporate guidance, which includes capital investment of $4.6 billion to $5.0 billion, delivering upstream production of 805,000 barrels of oil equivalent per day (BOE/d) to 845,000 BOE/d and downstream crude unit utilization of 90% to 95%. Capital … Read more
Quebec Premier François Legault and Newfoundland and Labrador Premier Andrew Furey are scheduled to announce an energy agreement Thursday that could end decades of friction between the two provinces. Officials from both provinces have been working to negotiate a new deal surrounding the Churchill Falls hydroelectric plant in Labrador. The current agreement, signed in 1969, is widely seen … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Wednesday: * WCS for January delivery in Hardisty, Alberta settled at $12.45 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at $12.25 a barrel under the U.S. benchmark on Tuesday. * … Read more
Some Canadian premiers are urging Ottawa to respond robustly to the threat of tariffs from incoming U.S. President Donald Trump and have highlighted critical minerals and metals as products that the U.S. relies on, Canada’s Finance Minister said on Wednesday. Canadian Prime Minister Justin Trudeau and other government ministers met with provincial premiers to discuss … Read more
CALGARY, AB, Dec. 11, 2024 /CNW/ – Yangarra Resources Ltd. (“Yangarra” or the “Company“) (TSX: YGR) announces its 2025 capital budget & guidance, a land acquisition and an operations update. 2025 Capital Budget & Guidance The Company’s Board of Directors has approved a capital budget of $55 – $60 million for 2025, which will hold production flat at 11,250 – 11,750 boe/d. At USD $68.00/bbl … Read more
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES CALGARY, AB, Dec. 11, 2024 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Selling Shareholder“) and Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company“) announced today the closing of the previously announced secondary offering (the “Offering“) of common shares of the Company (the “Common … Read more
CALGARY, Alberta, Dec. 11, 2024 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) and its strategic partner Ecopetrol S.A. (“Ecopetrol”), are pleased to announce that they have executed agreements whereby Parex will earn a 50% working interest (“W.I.”) in four blocks located in the Putumayo Basin of Colombia (“Putumayo Blocks”) as … Read more
Global demand to exceed output by 100,000 barrels a day IEA last month forecast 1 million barrel-a-day surplus The US reversed its forecast for a crude glut next year and is now calling for a small oil-market deficit. Global oil consumption should exceed output by 100,000 barrels a day in 2025, according to a monthly report from … Read more
Bloomberg News Police vans cordoned off Berlin’s Adlon Kempinski hotel Tuesday as environmental protesters attempted to disrupt an energy conference, splashing green paint against the side entrance of the luxury venue by the Brandenburg Gate. Inside, the global liquefied natural gas industry gathered to debate its future. Having largely turned the page on energy price … Read more
Group makes fifth reduction to estimate amid signs of weakness Alliance agreed last week to delay, slow revival in its output OPEC cut oil demand growth forecasts for this year and next for a fifth straight month, making its deepest reduction to the 2024 outlook so far after agreeing to extend its supply curbs. The Organization … Read more
Toronto, Ontario–(Newsfile Corp. – December 10, 2024) – Argo Gold Inc’s. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) (“Argo” or the “Company“) October 2024 oil production was a total of 3,651 barrels for the month, averaging 118 barrels per day. Oil prices averaged CDN$71 per barrel and Argo’s October oil revenue was $258,369 … Read more
(Reuters) – Oil prices climbed 1% on Wednesday as market participants anticipated a rise in demand from top importer China following Beijing’s latest plans to boost economic growth. Brent crude futures gained 75 cents, or 1.04%%, to $72.94 a barrel by 1011 GMT, while U.S. West Texas Intermediate crude futures rose 75 cents, or 1.09%, … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) held steady on Tuesday: * WCS for January delivery in Hardisty, Alberta settled at $12.25 a barrel under the WTI benchmark, according to brokerage CalRock, flat from the previous day. * Global oil prices rose as markets … Read more
In today’s fast-paced oil and gas industry, efficiency and accuracy are critical. That’s where Muddy Boots comes in, a powerful, integrated, and customizable mobile software solution designed to simplify and optimize your operations. Why juggle multiple systems when one can do it all? With Muddy Boots, you can save money, boost data accuracy, and provide … Read more
By Jim Warren Sustainable Development Technology Canada: home of the Green Slush Fund The Conservative-led parliamentary filibuster over the Green Slush Fund is heading into its third month and the Liberals haven’t budged. They still refuse to release unredacted documents related to Auditor General, Karen Hogan’s June report on Sustainable Development Technology Canada (SDTC). The … Read more
VANCOUVER, BC, Dec. 10, 2024 /CNW/ – Parkland announced it has successfully produced Canada’s first batch of low carbon aviation fuel at its Burnaby Refinery. With support from the Government of British Columbia, this is a major step toward delivering a Canadian-made solution that can help lower aviation sector emissions, foster economic growth, and support the low-carbon ambitions of British Columbia and Canada. “Parkland … Read more
Kevin O’Leary, in Cooperation with the Municipal District of Greenview, to Develop the World’s Largest AI Data Centre Industrial Park ‘Wonder Valley’ in the Greenview Industrial Gateway Near Grande Prairie, Alberta GREENVIEW, AB, Dec. 9, 2024 /PRNewswire/ – The Municipal District of Greenview is proud to announce a groundbreaking partnership with O’Leary Ventures to build an … Read more
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. CALGARY, AB, Dec. 10, 2024 /CNW/ – Freehold Royalties Ltd. (Freehold or the Company) (TSX: FRU) is pleased to announce that, as a result of excess demand, it has agreed with the syndicate of underwriters co-led by RBC Capital Markets, CIBC Capital Markets and TD Securities … Read more
Company now vents more gas than rival Canadian Natural Despite pledges, the world struggles to tame methane emissions Tourmaline Oil Corp. is now the largest emitter of planet-warming methane in Canada’s energy heartland following a series of acquisitions in recent years. The company vented 3,862.5 thousand cubic meters of natural gas in October, a threefold jump … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Monday: * WCS for January delivery in Hardisty, Alberta settled at $12.25 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $12.40 a barrel under the U.S. benchmark … Read more
Calgary, Alberta–(Newsfile Corp. – December 10, 2024) – Gear Energy Ltd. (TSX: GXE) (OTCQX: GENGF) is pleased to announce that a new Corporate Presentation with additional details on the December 2, 2024 arrangement agreement (the “Agreement”) is available to shareholders and can be accessed via the following link: Corporate Presentation. Further details on the Agreement, including a 2025 … Read more
CALGARY, AB, Dec. 10, 2024 /CNW/ – Advantage Energy Ltd. (“Advantage” or the “Corporation”) is pleased to announce its 2025 budget and provide an updated three-year plan. Advantage’s 2025 capital program continues our focus on growing adjusted funds flow (“AFF”)a per share via high rate-of-return development drilling. Production is expected to increase by approximately 16% in 2025, reflecting an organic … Read more
CALGARY, AB, Dec. 10, 2024 /CNW/ – Keyera Corp. (TSX: KEY) (“Keyera”) is pleased to provide a business update and 2025 guidance. View PDF Keyera Provides 2024 – 2027 Growth Target, Business Update and 2025 Guidance (CNW Group/Keyera Corp.) “Keyera continues to leverage the strength of its integrated asset base to deliver value for customers while driving strong returns for … Read more
Summary Oil keeps most of Monday’s gains with hopes for China stimulus Syria rebels set up government; banks, oil sector to reopen Tuesday China: first annual crude import growth in seven months (Reuters) – Oil prices slipped on Tuesday as concerns eased about the fallout from the overthrow of Syria’s president, despite support from China’s … Read more
‘We have that strong, solid history of technology and innovation success. It’s my job to keep that going’ By Laura Mitchell Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Petroleum Technology Alliance Canada CEO Lauren Savoie. Photo for the Canadian Energy Centre Lauren Savoie says her love of … Read more
In the dynamic world of energy, safety is not just a priority—it’s a necessity. At Wynn Safety, we are dedicated to equipping everyone from business to on-site field professionals with the essential knowledge to ensure their well-being on the job. Our owners came together to combine their years of experience in the oilfield and safety … Read more
By Maureen McCall Globally, companies have been living with the reality that COVID-19 changed the labour market dramatically. After lockdowns caused the worst economic downturn since the Great Depression, employers across the United States, the United Kingdom, Canada, Australia, and the European Union have been struggling and competing to find workers. Global advisories like Deloitte and McKinsey have … Read more
Igor Sechin, the head of Russia’s largest oil producer Rosneft, on Saturday said he approved of U.S. President-elect Donald Trump’s proposals to defend domestic energy producers. Speaking at a conference in Qatar, he said that Trump’s promises during his election campaign involved “fitting” economic measures, including protecting domestic energy producers and the market. Trump’s return … Read more
The federal government’s bet on the Trans Mountain pipeline expansion may pay off sooner than expected Bloomberg News The expansion of Canada’s Trans Mountain pipeline represented a Cdn$34 billion (US$24 billion) bid to help the country’s oil producers reduce their near-total reliance on the United States market. That’s a bet that may pay off sooner … Read more
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. The prospectus supplement, the corresponding base shelf prospectus and any amendment thereto in connection with the financing will be accessible through SEDAR+ within two business days CALGARY, AB, Dec. 9, 2024 /CNW/ – Freehold Royalties Ltd. (Freehold or the Company) (TSX: FRU) has entered into a … Read more
Oilfield service companies ramped up hiring in November, adding 1,890 jobs in the sector, according to data from trade group Energy Workforce & Technology Council released on Monday. WHY IT’S IMPORTANT Oilfield service hiring can serve as an indicator of the health of the sector. Companies bringing on more employees could imply more drilling to … Read more
Summary Brent, WTI both up over 1% after two-week declines China signals loosened monetary policy next year to spur growth Overthrow of Syria’s Assad fuels regional uncertainty Dec 9 (Reuters) – Oil prices climbed by more than 1% on Monday as top importer China flagged its first move toward a loosened monetary policy since 2010 aiming to … Read more
This year, Paradox Access Solutions celebrates a milestone that few in the industry can claim—a dynamic 20 years of pioneering innovation, resilience, and industry-shaping solutions in soil stabilization and ground reinforcement. Ambitiously started by Marc Breault in 2004, Paradox began as a forward-thinking, home-based business providing access matting solutions across multiple industries. Two decades and … Read more
In a landmark effort to protect people and communities from the effects of climate change and reduce GHG emissions, the British Columbia Energy Regulator has announced significant amendments to its Drilling and Production Regulation. These changes, set to take effect on January 1, 2025, emphasize reducing methane emissions for oil and gas operators to improve … Read more
In 1978, The Canadian Energy Geoscience Association (CEGA), previously called Canadian Society of Petroleum Geologists (CSPG), created the CSPG Foundation. The goal of the Foundation is to fund and support educational petroleum geoscience outreach across Canada, such as the Student Industry Field Trip, Student Scholarships, Atlas 2027, and the Alberta Paleontological Society Fund. Student Industry … Read more
Safety is paramount in the energy industry. From upstream exploration to downstream refining, facilities face numerous operational risks, including the critical challenge of overpressure. Effective overpressure protection not only safeguards equipment and processes but also protects lives, mitigates environmental impacts, and ensures regulatory compliance. One of the key tools in the fight against overpressure incidents … Read more
Dec 6 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in eight weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by seven to 589 in the week to … Read more
By: Tegan Hill Adding to a long list of costly federal policies that restrict oil and gas development, the Trudeau government plans to cap greenhouse gas emissions from the oil and gas sector at 35 per cent below 2019 levels by 2030. This is the exact opposite of what Canada needs, particularly given developments south … Read more
By: Dean Stansel, José Torra, Matthew D. Mitchell and Ángel Carrión-Tavárez The indices in the Economic Freedom of North America 2024 measure the degree to which governments in North America permit their citizens to make their own economic choices. They include data from the 10 Canadian provinces, 50 US states, 32 Mexican states, and the … Read more
(Reuters) – It was likely a fairly easy decision for OPEC+ to once again delay plans to increase oil output. The soft state of global demand is by itself sufficient reason to justify the decision at Thursday’s meeting of the group to defer winding back some of its production cuts until at least April. But weak demand … Read more
EDMONTON — The Alberta government has confirmed new rules for wind and solar energy projects it says are needed to protect the environment, food security and the province’s scenery.
The new regulations stem from Premier Danielle Smith’s February annou…
Oil prices fall on supply glut fears despite OPEC+ output cut extension Summary Brent and WTI both down more than 1%, post weekly loss Even with OPEC+ restraint, analysts see oversupply in 2025 US drillers add oil and gas rigs for first time in 8 weeks US job growth rebounds in November; unemployment rate rises … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Friday: * WCS for January delivery in Hardisty, Alberta, settled at $12.40 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $12.60 a barrel under the U.S. benchmark … Read more
Goldman Sachs on Friday maintained its forecast for Brent oil to average $76 per barrel in 2025, citing a balanced market situation, with lower OPEC+ supply offsetting an unexpected surge last month in commercial inventories at Organisation for Economic Co-operation and Development countries. “We maintain our annual average Brent forecasts of $76/bbl in 2025 and … Read more
by Canada Powered by Women | December 2024 The federal government recently released draft regulations for an oil and gas emissions cap for Canadian industry. While touted as a leap for climate action, many are left wondering about the long-term impacts. At a glance, this cap, which aims to lower emissions related to oil and gas production 35 per cent … Read more
St. Albert, Alberta–(Newsfile Corp. – December 6, 2024) – Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the “Company” or “Enterprise Group”), a consolidator of services to the energy sector that is focused primarily on specialized equipment rental is pleased to announce that it has filed a final short form prospectus (the “Prospectus”) in each of the provinces of … Read more
Calgary, Alberta–(Newsfile Corp. – December 5, 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 a summary of the results from the Company’s updated independent reserves evaluation, which … Read more
By: Julio Mejía, Elmira Aliakbari and Tegan Hill According to an announcements last week by Premier Danielle Smith, the Alberta government will use the Alberta Sovereignty within a United Canada Act to challenge Ottawa’s proposal to cap greenhouse gas emissions from the oil and gas sector at 35 per cent below 2019 levels by 2030. Premier Smith, who said … Read more
Trade surplus with US falls to C$6.2 billion in October Overall, Canada posts trade deficit of C$924 million Canada’s trade surplus with the US helped the northern nation avoid a deeper overall deficit, underscoring the importance of its biggest trading partner as President-elect Donald Trump threatens crippling tariffs. The country’s total imports exceeded exports for the eighth … Read more
Summary Brent and WTI set for weekly loss Even with OPEC+ restraint, analysts see oil oversupply in 2025 (Reuters) – Oil prices fell on Friday as analysts continued to forecast a supply surplus in 2025 despite the OPEC+ decision to postpone planned supply increases and extend deep output cuts to the end of 2026. Brent … Read more
(Reuters) – OPEC+ at its Dec. 5 meeting made further changes to its oil production policy, by delaying a planned increase in output further into next year as it faces a weaker oil demand outlook. The oil producer group on Thursday pushed back the start of oil output rises by three months until April 2025 and extended … Read more
Nearly all Chinese EVs currently imported to Canada are from Tesla’s factory in Shanghai Bloomberg News Canada can expect to collect about $100 million annually from its new tariffs on Chinese steel, aluminum and electric vehicles, Parliamentary Budget Officer Yves Giroux said in a report Thursday.Finance Minister Chrystia Freeland announced the tariffs in August and they came into … Read more
Calgary, Alberta–(Newsfile Corp. – December 5, 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 a summary of the results from the Company’s updated independent reserves evaluation, … Read more
The report by the Alberta Energy Regulator says the amount of money spent by industry on oil well clean-up was 10 per cent higher than companies were required to spend under provincial rules. Alberta has been working to address a backlog of thousands of old and inactive wells in the province. Between 2000 and 2020, … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Thursday: * WCS for January delivery in Hardisty, Alberta, settled at $12.60 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $12.20 a barrel under the U.S. benchmark … Read more
Rock The Night, Save A Heart A Personal Message from Dennis Ranks First, I want to extend my heartfelt thanks to all the sponsors and friends who supported last year’s CHRISTMAS CARDIO-A-GO-GO fundraising event. Together, we raised over $90,000 in one night for the Libin Cardiovascular Institute, and it was a night to remember. Ask … Read more
Canada’s greatest economic strength is our abundance of energy and natural resources. That’s why energy, mining, food, and forestry generated 58% of all trade exports in 2022. These exports bring money into the country and support the value of our dollar, to help us pay for the things we have to import, like fruits and vegetables in … Read more
CALGARY, Alberta, Dec. 05, 2024 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to announce its 2025 budget with capital projects that will balance cash flow growth while continuing to deliver a durable return of capital framework that will direct 100% of Free Cash Flow to share buybacks in 2025. Corporate … Read more
Focused on efficiency, processing revenue growth & debt reduction NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES CALGARY, Alberta, Dec. 05, 2024 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) is pleased to provide 2025 guidance including scope of the 2025 capital program along with production and Net Operating … Read more
CALGARY, AB, Dec. 5, 2024 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) is pleased to announce a 10% increase to the quarterly dividend beginning in 2025, preliminary 2025 budget and operations update. DIVIDEND INCREASE AND PRELIMINARY 2025 BUDGET Beginning in 2025, the quarterly dividend will increase to $0.11 per common share representing a 6.3% yield at a $7.00 common share price. Success … Read more
COPENHAGEN, Dec 5 (Reuters) – Denmark’s latest offshore wind farm tender in the North Sea has failed to attract any bids, authorities said on Thursday, in a further setback for the industry. After a year of challenges, the global offshore wind industry no longer has much prospect of hitting the lofty targets set by governments … Read more
Dec 5 (Reuters) – U.S. utilities are finally signing concrete supply deals with data-center operators as the artificial-intelligence wave sparks a surge in power demand, paving the way for higher profits in the coming quarters. Data centers are expected to account for 8% of the power generated in the U.S. by 2030, compared with 3% … Read more
A 25% levy on imports would freeze out the Michigan and Wisconsin voters who helped propel him to victory. By Patricia Lopez The Midwest is in for a cold, costly winter if President-elect Donald Trump succeeds in imposing 25% tariffs on Canada and Mexico. The US buys nearly all the crude oil that Canada produces, but no region … Read more
Summary Shell won’t lead new offshore wind investments, it tells Reuters Shell Energy to split into power generation, trading units Changes are part of CEO Sawan’s review of strategy (Reuters) – Shell is stepping back from new offshore wind investments and is splitting its power division following an extensive review of the business that was once … Read more
(Reuters) – The oilfield service sector is poised for more consolidation in 2025, according to Deloitte’s 2025 Oil and Gas Industry Outlook, with President-elect Donald Trump expected loosen regulations on the U.S. oil and gas industry. The uptick in deals in the services sector would follow a wave of mega-mergers among oil producers, including Exxon … Read more
(Reuters) – OPEC+ has agreed to delay its plan to raise oil output until April 2025, an OPEC+ source told Reuters while its meeting was underway, to provide additional support for the oil market. The group will unwind its latest layer of output cuts gradually from April 2025 until 2026, the source said.
(Reuters) – Oil prices pared some gains on Thursday after a source told Reuters OPEC+ has agreed to delay a planned oil output hike until April 2025. Brent crude was up 24 cents, or 0.3%, to $72.55 a barrel at 1237 GMT. It had been at $72.84 before Reuters reported the delay. U.S. West Texas … Read more
CALGARY, Alberta, Dec. 04, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (TSX.V: PEI,) (“Prospera“, “PEI” or the “Corporation“) Prospera Energy is pleased to announce the completion and continuation of production optimization activities in its heavy oil properties, with both immediate increases in production and bolstering of field uptime and reliability. Five (5) wells have been successfully … Read more
Courtesy of Axis Communications By Jason Chiu Workers in the oil and mining sectors face some of the most hazardous work conditions: extreme temperatures, chemical spill risks, and challenging terrains that can lead to serious injuries or even fatalities. These dangers are further intensified by harsh weather conditions and potential equipment malfunctions, underscoring the critical … Read more
CALGARY — Eight First Nations in Alberta are asking that the $16.5-billion carbon capture and storage project proposed by a consortium of oilsands companies be reviewed under the federal Impact Assessment Act.
The Beaver Lake Cree Nation, Cold Lake Fi…
EDMONTON — Alberta Technology Minister Nate Glubish says he’s hoping to see $100 billion worth of artificial intelligence data centres under construction within the next five years.
Such centres are filled with computer servers used by companies like …
(Reuters) – The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed slightly on Wednesday: WCS for January delivery in Hardisty, Alberta, settled at $12.20 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $12.30 a barrel under the … Read more
‘Canada continues to be resource-rich and competes very well against major U.S. resource bases’ By Will Gibson Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Cenovus Energy’s Sunrise oil sands project in northern Alberta. Photo courtesy Cenovus Energy A new report on North American energy highlights the important … Read more
CALGARY, Alberta, Dec. 04, 2024 (GLOBE NEWSWIRE) — Gibson Energy Inc. (“Gibson” or the “Company”) is pleased to announce the extension and amendment of a long-term contract at its Gateway Terminal (“Gateway” or the “Terminal”) with an existing customer that refreshes the initial contract term, with further renewal options beyond that date. The extension includes contracting additional … Read more
CALGARY, Alberta, Dec. 04, 2024 (GLOBE NEWSWIRE) — Parallax Energy Operating Inc., a wholly owned subsidiary of Parallax Energy, L.P. (collectively “Parallax”), today closed the acquisition of Vesta Energy Ltd. (the “Acquisition”), a private producer with a significant land position in the East Shale Basin of the Duvernay light oil window in Central Alberta. Parallax now … Read more
CALGARY, AB, Dec. 4, 2024 /CNW/ – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company“) (TSX: TVE) is pleased to announce its 2025 capital and operating budget. The 2025 budget continues to generate free funds flow(1) in support of ongoing returns to shareholders, and further investment to capture value across Tamarack’s significant asset base. Highlights of the 2025 Budget Production … Read more
Another move to delay an uptick in production is already priced in. Bloomberg News Even before OPEC+ ministers start tomorrow’s meeting on oil production, traders are looking beyond it. For the past week, the cartel led by Saudi Arabia and Russia has been holding preliminary talks to once again delay plans for reviving halted … Read more
Chris Wright has championed fossil fuels as a moral good and characterized climate change as modest Standing shoulder to shoulder with his employees, Chris Wright, chief executive officer of oilfield services company Liberty Energy Inc., held up his glass in a toast. “To your health and the longer lives and healthier lives of billions of people … Read more
(Reuters) – Saudi oil giant Aramco, top oilfield services company SLB and Linde, the world’s largest industrial gases company, have signed an agreement to build a carbon capture and storage project in Jubail, Saudi Arabia. Aramco will own 60% of the project while SLB and Linde will hold 20% each, the companies said in a joint statement on … Read more
Summary OPEC+ to discuss oil policy on Dec. 5 US oil and fuel stockpiles rose last week Israel warns of renewed war in Lebanon South Korea president faces impeachment after martial law debacle Dec 4 (Reuters) – Oil prices were little changed on Wednesday, with traders expecting OPEC+ to announce an extension to supply cuts … Read more
Calgary, Alberta–(Newsfile Corp. – December 3, 2024) – Tuktu Resources Ltd. (TSXV: TUK) (“Tuktu” or the “Company“) is pleased to announce an operational update and the issuance of stock options to Tuktu’s directors and officers as part of the Company’s long-term incentive program. Operational Update Tuktu has resumed production on its southern Alberta oil discovery well after … Read more
Fuel-powered cars still outsell EVs in Canada by almost 7:1 By Resource Works More News and Views From Resource Works Here While the federal government pushes electric vehicles (and other zero-emission vehicles), Canadians seem to be somewhat less enthusiastic about them. Ottawa calls them all ZEVs and says: “Canada is committed to decarbonizing the country’s … Read more
In Alberta, prior to commencing drilling operations, operators are required to submit an H2S Release Rate Assessment to the Alberta Energy Regulator (AER), as outlined in Directive 056. The industry has the opportunity to utilize data for thorough due diligence, not only to ensure compliance but also to prioritize the safety and well-being of the … Read more
TORONTO, Dec. 3, 2024 /CNW/ – TerraVest Industries Inc., (TSX: TVK) (“TerraVest” or the “Company”) announces today that, through its partially owned subsidiary Green Energy Services Inc. (“GES”), it has entered into an asset purchase agreement with Aureus Energy Services Inc. (“Aureus”) to acquire their Canadian assets, located in Grande Prairie, Alberta and Fort St. John, British Columbia (the “Transaction”). Aureus … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened slightly on Tuesday: * WCS for January delivery in Hardisty, Alberta, settled at $12.30 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a discount of $12.00 a barrel under the U.S. … Read more
CALGARY — Enbridge Inc. raised its quarterly dividend for next year as it released its financial guidance for 2025.
The pipeline company says it will pay a quarterly dividend of 94.25 cents per share, up from 91.5 cents per share, effective March 1.
T…
CAOEC President & CEO speaks at the State of the Industry November 29, 2024 – Telus Convention Centre “Hope is Making a Comeback in the Oil Patch” – CAOEC President & CEO Mark Scholz by Maureen McCall Every fall, the Canadian Association of Energy Contractors (CAOEC) brings together Association members, industry leaders, and subject matter … Read more
Calgary, Alberta–(Newsfile Corp. – December 3, 2024) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) is pleased to announce its 2025 budget. “Our 2025 budget demonstrates the strength of our oil-weighted portfolio as we target continued strong performance in the Eagle Ford, further progression of the Pembina Duvernay and capital efficient heavy oil development. We … Read more
Calgary, Alberta–(Newsfile Corp. – December 3, 2024) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) is pleased to announce its 2025 budget. “Our 2025 budget demonstrates the strength of our oil-weighted portfolio as we target continued strong performance in the Eagle Ford, further progression of the Pembina Duvernay and capital efficient heavy oil development. … Read more
By Curtis Williams HOUSTON, Dec 3 (Reuters) – Rising costs of building and equipping new U.S. liquefied natural gas plants will reduce the competitiveness of U.S. gas exports, LNG analysts at Poten & Partners predicted on Tuesday. U.S projects have faced rising construction costs, with Venture Global’s Plaquemines export plant under construction in Louisiana over … Read more
By Timothy Gardner WASHINGTON, Dec 3 (Reuters) – Meta (META.O) said on Tuesday it is seeking proposals from nuclear power developers to help meet its artificial intelligence and environment goals, becoming the latest big tech company to take interest in atomic power amid an expected boom in electricity demand. The company wants to add 1 … Read more
CALGARY, AB, Dec. 3, 2024 /CNW/ – AltaGas Ltd. (“AltaGas” or the “Company”) (TSX: ALA) announces its 2025 guidance and outlook; a six percent increase to its common share dividend; and continued progress on strategic priorities. HIGHLIGHTS (all financial figures are unaudited and in Canadian dollars unless otherwise noted) 2025 normalized EBITDA1 guidance of $1,775 million – $1,875 million, which represents approximately six percent … Read more
CALGARY, AB, Dec. 3, 2024 /CNW/ – Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) announced today its 2025 financial guidance and an annualized common share dividend increase from $3.66 to $3.77 per share, or 3.0%, effective March 1, 2025. HIGHLIGHTS (All financial figures are unaudited and in Canadian dollars unless otherwise noted. * identifies non-GAAP financial measures. See the Non-GAAP and Other … Read more
Summary Slower demand, rising output beyond the group swells supply Global oil prices rangebound between $70 and $80/barrel OPEC+ to decide on planned UAE production increase from January (Reuters) – OPEC+ is likely at its meeting on Thursday to extend its latest round of oil output cuts until the end of the first quarter, four … Read more
Dec 3 (Reuters) – Oil prices climbed nearly 1% on Tuesday, as investors hone in on the outcome of an OPEC+ meeting later this week. Brent crude futures rose 76 cents, or 1.06%, to $72.59 a barrel by 1131 GMT, while U.S. West Texas Intermediate crude climbed 75 cents, or 1.1%, to $68.85. OPEC+ is … Read more
By Gavin Maguire (Reuters) – Natural gas prices in Asia, Europe and North America have climbed by around 30% to 50% so far in 2024, and look set to keep rising over the coming months as forecasts for cold weather trigger higher heating demand in key consumer hubs. Active restocking of rapidly-declining gas inventories in Europe … Read more
Calgary, Alberta–(Newsfile Corp. – December 3, 2024) – Coelacanth Energy Inc. (TSXV: CEI) (“Coelacanth” or the “Company“) announces that it has completed and tested 4 additional wells at its Two Rivers East Project including 3 Lower Montney Wells and 1 Upper Montney well on the 5-19 pad. LOWER MONTNEY The 3 new Lower Montney wells (F5-19, … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed slightly on Monday, as the new monthly trade cycle got underway: * WCS for January delivery in Hardisty, Alberta, settled at $12.00 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at a … Read more
Mach Capital, the investment arm of Canadian real estate developer Groupe Mach Inc., is in discussions to provide more funding to cash-strapped electric bus manufacturer Lion Electric Co., according to a person familiar with the matter. But the firm will invest only if members of Montreal’s Saputo family are also willing to put in more cash to … Read more
By Jake Fuss and Grady Munro Last week, Yves Giroux, the Parliamentary Budgetary Officer, raised a rarely-talked-about issue with the federal government—that is, the release of important fiscal documents is being delayed further and further each year. While at first glance this may not seem like a big deal, it’s a sign of declining transparency—an issue all … Read more
By Kenneth P. Green According to a recent report in the Wall Street Journal (WSJ), Germany’s climate policies—chasing after “net-zero” greenhouse gas emissions, aggressive electric vehicle sales mandates, and moving electricity production away from fossil fuels to renewable sources such as wind and solar—has imperiled Germany’s massive auto-sector, the central pillar of its economy. Specifically, Volkswagen may … Read more
The cartel needs to be more honest about the implications of its drive to keep crude prices high. By Javier Blas The best scandals are those that start when someone, somewhere, decides to say something utterly shocking: the truth! A senior official of the OPEC+ oil cartel has said publicly what many thought privately — the … Read more
Summary Uncertain economic outlook could add to oversupply Lower prices accompanied by a trade war could damage economies Trump’s sway over prices is limited NEW YORK/LONDON, Dec 2 (Reuters) – Donald Trump has promised to “drill, baby, drill” to halve energy costs, a plan that sends shivers through the governments of emerging market oil producers anxious about … Read more
Summary Brent, WTI rise 1% China’s factory activity expands in November OPEC+ shifts oil policy meeting to Dec. 5 from Dec. 1 Dec 2 (Reuters) – Oil prices rose more than 1% on Monday, supported by strong factory activity in China, the world’s second-largest oil consumer, and escalating tensions in the Middle East, where Israel … Read more
SINGAPORE–(BUSINESS WIRE)– Coal use and emissions from power generation in Asia will surge in coming decades unless there is significant new supply of U.S. liquefied natural gas (LNG), a new study by data and analytics company Wood Mackenzie has shown. The study, commissioned by the Asia Natural Gas & Energy Association (ANGEA), models energy demand, … Read more
December 02, 2024 7:00 AM EST | Source: Gear Energy Ltd. Calgary, Alberta–(Newsfile Corp. – December 2, 2024) – Gear Energy Ltd. (TSX: GXE) (OTCQX: GENGF) (“Gear” or the “Company“), is pleased to announce that it has entered into an arrangement agreement (the “Agreement“) with a large publicly traded company (the “Purchaser“) pursuant to which the Purchaser will … Read more
Transporting construction and drilling equipment with heavy wheel loads is extremely challenging across soft ground, dense muskeg, or oversaturated clays—conditions typical of the oil sands regions of Athabasca, Peace River, and Cold Lake. These challenges are compounded by extreme winter weather and frozen ground. To make matters even more difficult, limited road-building resources make constructing … Read more
Paper-to-Polygons at Your Service The Unfortunate Reality of Data Storage Today It’s common for established energy companies to have amassed mountains of paper files through their acquisition work. Searching for, reporting on, and interpreting this information on a map is slow and painful. Making fast and informed project decisions while verifying and processing file information … Read more
For over 50 years, Westech Industrial has been at the forefront of providing cutting-edge solutions in the field of process analyzers. Our journey began with a commitment to helping customers find the right tools for their unique needs, and over the decades, we’ve grown into a trusted partner across industries. From energy and manufacturing to … Read more
At Kathairos Solutions, we’re always looking for ways to showcase the innovative technology driving our zero-emissions solutions. That’s why we partnered with Jessica Godfrey, Perma-Cyl Product Manager at Chart Industries, to bring you Tank Talks—a three-part video series diving into the incredible functionality of the tanks behind the Kathairos solution. From design to deployment, Jessica … Read more
TORONTO — Ontario is urging the federal government to amend proposed electricity regulations after an analysis by the province’s system operator concluded the rules would mean $35 billion in additional costs by 2050.
A new analysis by the Independent …
U.S. President-elect Donald Trump said on Saturday he discussed the border, trade and energy in a “very productive” meeting with Canadian Prime Minister Justin Trudeau amid fears of a trade war. Trudeau paid an unannounced visit to Florida on Friday evening and had dinner with Trump at his Mar-a-Lago residence, days after Republican Trump pledged … Read more
CALGARY — An industry organization predicts 2025 will see the highest amount of oil and natural gas well drilling activity in Canada in a decade.
The Canadian Association of Energy Contractors, which represents drilling and service rig companies, says…
WEST PALM BEACH, Fla. (AP) — Canadian Prime Minister Justin Trudeau returned home Saturday after his meeting with Donald Trump without assurances the president-elect will back away from threatened tariffs on all products from the major American trading partner. Trump called the talks “productive” but signaled no retreat from a pledge that Canada says unfairly lumps it … Read more
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