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Norway May Join Oil Output Cuts for First Time Since 2002

Norway Flag Feature

By Mikael Holter Apr 4, 2020 (Bloomberg) Norway, the biggest oil producer in western Europe, said it would consider cutting its output if there was a broad international agreement to curb supply.The Nordic nation, whose oil output is set to grow over the next few years, hasn’t been a part of coordinated international cuts to support … Read moreNorway May Join Oil Output Cuts for First Time Since 2002

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Lack of Clear Federal Help for Canada’s Energy Industry Becoming Frustrating & Just Talk

OTTAWA — Canada’s oil producers could only sit and watch as the price of their product plummeted last month to less than what it costs to buy a litre of soda, hit by the double whammy of a COVID-19-induced drop in global demand and a production war be…

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Athabasca Suspends Canada Oil-Sands Operation on Low Prices

By Michael Bellusci  Apr 3, 2020 (Bloomberg) Athabasca Oil Corp. fully suspended its Hangingstone oil sands operation to combat low oil prices and uncertainty surrounding coronavirus.The move comes shortly after Athabasca said in March it would curtail production at Hangingstone by about 50% to maximize corporate funds flow and liquidity. Calls have been mounting for Canadian producers to … Read moreAthabasca Suspends Canada Oil-Sands Operation on Low Prices

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WATCH: Not Adding Up: First Nations Leader Chris Sankey Warns Prosperity in Peril – Regulator Watch

Just over a month ago, it appeared radical environmental activists were close to achieving a long-sought goal: to #ShutdownCanada by strangling the energy and resource sector into oblivion. Across the country, protests erupted and blockades were erected, paralyzing Canada’s national transportation system, in support of the Wet’suwet’en hereditary chiefs who call for the cancellation of … Read moreWATCH: Not Adding Up: First Nations Leader Chris Sankey Warns Prosperity in Peril – Regulator Watch

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Putin Echoes Trump’s Call for Oil Producers to Cut Output

By Irina Reznik, Olga Tanas, Henry Meyer and Ilya Arkhipov  Apr 3, 2020 (Bloomberg) Russian President Vladimir Putin said his country is prepared to take part in deep cuts in oil production together with Saudi Arabia and other major producers to halt the slide in prices, echoing an announcement by his U.S. counterpart Donald Trump.“We are … Read morePutin Echoes Trump’s Call for Oil Producers to Cut Output

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U.S. drillers cut most oil rigs in a week since 2015: Baker Hughes

(Reuters) – U.S. energy companies reduced the number of active oil rigs for a third week in a row in their biggest weekly cut in five years as they slashed spending on new drilling due to a coronavirus-related slump in economic activity and fuel demand. Drillers cut 62 oil rigs in the week to April … Read moreU.S. drillers cut most oil rigs in a week since 2015: Baker Hughes

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Canada Weekly Rig Count Down 13 for Week Ending April 3, 2020

Canada’s drilling rig count is down 13 actively drilling rigs according to data collected by Baker Hughes for the week ending April 3, 2020. From one week ago, Alberta rig counts decreased 15 to 29 and the Saskatchewan rig counts stayed at 1. Oil drilling decreased 9 to 9 and gas decreased 4 to 32. … Read moreCanada Weekly Rig Count Down 13 for Week Ending April 3, 2020

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PetroFrontier Corp. Announces Proposed Funding Update

April 3, 2020 Newsfile Calgary, Alberta –   PetroFrontier Corp. (TSXV: PFC) (“PetroFrontier” or the “Company“) announces the following: Previously Announced Proposed Funding PetroFrontier advises that the parties involved in the proposed funding transaction announced on October 10, 2019 (the “Proposed Funding“) have formally terminated their discussions pertaining to completing the Proposed Funding. Subject to the approval … Read morePetroFrontier Corp. Announces Proposed Funding Update

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Five Things to Know in World Business Today

By Lorcan Roche Kelly Apr 3, 2020 (Bloomberg) More virus restrictions and stimulus, OPEC+ set to meet, and European PMIs are dismal. Here are some of the things people in markets are talking about today. 1 million The growth in the number of coronavirus cases globally shows little sign of slowing with the reported total passing 1 million yesterday, … Read moreFive Things to Know in World Business Today

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OPEC+ Urges Global Cut to Stem Rout as Russia Ready to Move

By Grant Smith, Javier Blas and Olga Tanas Apr 3, 2020 (Bloomberg) The OPEC+ coalition is pressing other oil producers to join a deep reduction in global crude output and stem a historic price crash, as Russia’s energy industry signaled it is ready to move.Oil surged on the prospect that an idea first touted by U.S. … Read moreOPEC+ Urges Global Cut to Stem Rout as Russia Ready to Move

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Russian Producers Ready for Oil Cuts to Stop Price Rout

By Irina Reznik, Olga Tanas, Henry Meyer and Ilya Arkhipov Apr 3, 2020 (Bloomberg) Russia’s oil industry is ready to agree to cuts in production together with Saudi Arabia and other major producers in a desperate bid to halt the slide in prices, according to five people familiar with the efforts.While the Kremlin hasn’t confirmed a … Read moreRussian Producers Ready for Oil Cuts to Stop Price Rout

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THE SHUT & SWAP IDEA – Ottawa Could Buy Alberta Oil to Rescue Canadian Energy Industry, RBC Says

By Michael Bellusci Apr 2, 2020 (Bloomberg) As Canada’s oil producers wait for a bailout to aid the hurting sector, one research firm has a suggestion: Sell crude to the government. RBC Capital Markets said that an aid package could allow companies that shut in production to sell barrels of oil that they’re not producing to … Read moreTHE SHUT & SWAP IDEA – Ottawa Could Buy Alberta Oil to Rescue Canadian Energy Industry, RBC Says

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Energy Industry in Canada Needs $20 Billion in Aid, Kenney Says

By Kevin Orland Apr 2, 2020 (Bloomberg) The Canadian energy industry needs more than C$20 billion (US$14.1 billion) in aid from the federal government as the Covid-19 pandemic and Saudi-Russian oil price war ravage global crude prices, Alberta Premier Jason Kenney said Thursday. Canadian oil and gas producers need “an emergency injection of liquidity” as a … Read moreEnergy Industry in Canada Needs $20 Billion in Aid, Kenney Says

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World Oil Surges as Producers Eye 10 Million Barrel a Day Output Cut

By Alex Longley Apr 3, 2020 (Bloomberg) Oil jumped more than 16% in London as OPEC+ scheduled an urgent meeting next week to try and stem the crude market’s rout, with an output cut of 10 million barrels a day of global production being discussed.The coalition will hold a meeting of its members by video conference on Monday. … Read moreWorld Oil Surges as Producers Eye 10 Million Barrel a Day Output Cut

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Parex Provides a Business Update in Response to COVID-19

April 02, 2020  | Source: Parex Resources Inc. CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company headquartered in Calgary, Alberta and focused on Colombian oil exploration and production, announces measures to protect the Company’s financial strength in response to the significant decrease in global energy prices … Read moreParex Provides a Business Update in Response to COVID-19

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Athabasca Oil Corporation takes further actions in response to the current environment

April 2, 2020 Globe Newswire CALGARY – Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is taking further immediate actions in response to the significant decline in global oil prices to bolster balance sheet strength and corporate resiliency. Shut-in of Hangingstone Asset Due to the significant decline in oil prices combined with the economic uncertainty … Read moreAthabasca Oil Corporation takes further actions in response to the current environment

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MUST WATCH: Speaking in Support of the Keystone XL Pipeline & Canadian Energy | Jason Kenney

Alberta Premier Jason Kenney speaking in support of Alberta’s investment in the Keystone XL Pipeline. Shovels are in the ground, construction has started. “We will never surrender Canada’s energy industry to OPEC dictatorships and foreign special interests that have sought to landlock our oil and gas.”

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$359 Billion: What Canada’s energy sector paid governments from 2000 to 2018

Follow CEC on Linkedin  CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Updated by Mark Milke and Lennie Kaplan This Fact Sheet details the direct contributions Canada’s energy sector made to federal and provincial revenues between 2000 and 2018, conservatively estimated at $359 billion. That figure includes almost $240 billion in direct provincial … Read more$359 Billion: What Canada’s energy sector paid governments from 2000 to 2018

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Heavy discount widens amid talk of Saudi-Russia production cut

April 2, 2020 Reuters Canadian heavy crude’s discount widened modestly versus the U.S. benchmark West Texas Intermediate (WTI) oil on Thursday, as global prices soared on U.S. talk of Russia and Saudi Arabia making a major production cut.Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, traded at $16 per barrel below … Read moreHeavy discount widens amid talk of Saudi-Russia production cut

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Alberta open to potential global oil cut deal -Premier

April 2, 2020 Reuters The Canadian province of Alberta, home to the world’s third-largest oil reserves, is open to joining any potential global pact to reduce a glut of crude production, Premier Jason Kenney told Reuters on Thursday.“We would certainly look at it, but really it’s the Saudis and the Russians here who are the problem, … Read moreAlberta open to potential global oil cut deal -Premier

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Industry Delivering Energy Safely During COVID-19 Health Crisis — “Now More Than ever” – CEC

Follow CEC on Linkedin  CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Updated by Grady Semmens on April 2, 2020 Photograph courtesy Canadian Energy Pipeline Association Thousands of women and men across the country are doing their part during the COVID-19 health crisis to ensure the energy that fuels Canadian communities continues to … Read moreIndustry Delivering Energy Safely During COVID-19 Health Crisis — “Now More Than ever” – CEC

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Oil Soars After Trump Says Saudis and Russia Will Cut Production

By Catherine Ngai and Alex Longley Apr 1, 2020, 4:26 PM – Updated on Apr 2, 2020, 10:12 AM Word Count: 678 (Bloomberg) —Oil soared after U.S. President Trump said that he expects Saudi Arabia and Russia to cut output back by 10 million barrels or more after he spoke with Crown Prince Mohammed Bin Salman. … Read moreOil Soars After Trump Says Saudis and Russia Will Cut Production

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Trump says oil output cut could be more than 10 mln bbls

April 2, 2020 Reuters U.S. President Donald Trump U.S. President Donald Trump on Thursday said he had spoken to Saudi crown prince Mohammed bin Salman and that he expects Saudi Arabia and Russia to cut oil output by as much as 15 million barrels per day, as the two countries signaled willingness for a deal.In a … Read moreTrump says oil output cut could be more than 10 mln bbls

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Five Things to Know in World Business Today

By Lorcan Roche Kelly Apr 2, 2020 (Bloomberg) Mammoth jobless claims data expected, China rejects U.S. charge on virus numbers, and finally some good news for oil. Here are some of the things people in markets are talking about today. Millions Weekly jobless claims numbers due 8:30 a.m. Eastern Time are expected to show another record high with the median expectation … Read moreFive Things to Know in World Business Today

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Oil Rebounds on China’s Crude Buying and Trump’s Diplomatic Push

By Sharon Cho and Alex Longley Apr 2, 2020 (Bloomberg)Oil surged in London as China planned to start buying up cheap crude for its strategic reserves, while the U.S. president said he thought Saudi Arabia and Russia would resolve their differences to ease the price war.Brent futures rose as much as 13% as Beijing instructed government agencies … Read moreOil Rebounds on China’s Crude Buying and Trump’s Diplomatic Push

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China to Start Buying Oil for State Reserves After Crash

By Bloomberg News Apr 2, 2020 (Bloomberg) China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, according to people with knowledge of the matter.The world’s biggest importer is taking advantage of a 60% plunge this year to snatch up cheaper barrels for its stockpiles, a source … Read moreChina to Start Buying Oil for State Reserves After Crash

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Massive New Mine Could Be Oil-Sands’ First Big Price War Victim

By Kevin Orland and Robert Tuttle Apr 1, 2020 (Bloomberg) The last major oil-sands mine to start operating in northern Alberta could be Canada’s first big casualty of the Saudi-Russian price war and the Covid-19 pandemic. Teck Resources Ltd., one of the partners in the Fort Hills project that formally opened in September 2018, is considering a full … Read moreMassive New Mine Could Be Oil-Sands’ First Big Price War Victim

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TC Energy Completes Big Bond Deal After Getting Help From Alberta

By Esteban Duarte Apr 1, 2020 (Bloomberg) TC Energy Corp. sold the biggest non-financial corporate bond in loonies so far this year in a fresh sign the Canadian credit market is following its U.S. counterpart back to life amid massive central bank intervention. Calgary-based TC Energy issued C$2 billion ($1.41 billion) of seven-year bonds one day … Read moreTC Energy Completes Big Bond Deal After Getting Help From Alberta

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The Oil Market Crash Is Starting to Claim Victims Across North America

By Joe Carroll Apr 1, 2020 (Bloomberg) The unprecedented collapse in global oil markets is wreaking havoc in all corners of the North American crude industry, pushing shale drillers, deepwater-equipment haulers and oil-sand miners to desperate measures.In the space of less than an hour on Wednesday, a former high-flying shale operator and an offshore transport company … Read moreThe Oil Market Crash Is Starting to Claim Victims Across North America

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PRECISION DRILLING ANNOUNCES FILING OF MANAGEMENT INFORMATION CIRCULAR, VIRTUAL-ONLY ANNUAL AND SPECIAL SHAREHOLDER MEETING AND PROPOSED SHARE CONSOLIDATION

Precision-Drilling-Feature

April 01, 2020 | Source: Precision Drilling Corporation This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For important information with respect to such forward-looking information and statements and the further assumptions and risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in … Read morePRECISION DRILLING ANNOUNCES FILING OF MANAGEMENT INFORMATION CIRCULAR, VIRTUAL-ONLY ANNUAL AND SPECIAL SHAREHOLDER MEETING AND PROPOSED SHARE CONSOLIDATION

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TSX SYMBOL: ZAR ZARGON OIL & GAS LTD. ANNOUNCES TERMINATION OF FINANCING AGREEMENT AND SALE OF US SUBSIDIARIES

April 02, 2020 | Source: Zargon Oil & Gas Ltd. CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) announces that it has entered into an agreement to settle its US$3.05 million term debt through the sale of its US subsidiaries for nominal proceeds and the release of the Company … Read moreTSX SYMBOL: ZAR ZARGON OIL & GAS LTD. ANNOUNCES TERMINATION OF FINANCING AGREEMENT AND SALE OF US SUBSIDIARIES

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Cenovus Energy provides corporate update

April 02, 2020  | Source: Cenovus Energy Inc CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is implementing additional measures to enhance its financial resilience in response to the low global oil price environment that is expected to continue for an unknown period. The company’s financial framework and flexible … Read moreCenovus Energy provides corporate update

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STEP Energy Services Ltd. Corporate Update

Step Energy Services Feature

April 02, 2020  | Source: STEP Energy Services Ltd. CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) is providing an update on actions taken in response to the COVID-19 pandemic (“COVID-19”), and current market conditions.  The following press release should be read in conjunction with the management’s discussion … Read moreSTEP Energy Services Ltd. Corporate Update

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Yangarra provides operations update

April 1, 2020 CALGARY – Yangarra Resources Ltd. (“Yangarra” or the “Company”) (TSX:YGR) provides an operations update. As a result of the COVID-19 pandemic, Yangarra has implemented a number of actions to reduce the risk of spread amongst our valuable employee team. The Company’s Calgary office has been reduced to two people with the remainder of the team working remotely … Read moreYangarra provides operations update

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Schachter’s Eye on Energy: Potentially the last major market plunge has started. Get your BUY list ready.

Each week Josef Schachter will give 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 31 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read moreSchachter’s Eye on Energy: Potentially the last major market plunge has started. Get your BUY list ready.

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G & B Portable Fabric Buildings Offers the Best of Both Worlds With New Rental Program

GB Portable Fabric Buildings Feature Logo 400x270

When it comes to your company’s temporary storage needs, a short-term solution shouldn’t require a long-term investment. Thanks to a new rental program from G & B Portable Fabric Buildings, it doesn’t. Founded back in 1995, G & B is one of the original companies responsible for the concept and development of portable fabric structures … Read moreG & B Portable Fabric Buildings Offers the Best of Both Worlds With New Rental Program

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Oil Storage Tanks Are Filling Up, Making Production Cuts ‘Inevitable’ in Canada

By Michael Bellusci Apr 1, 2020 (Bloomberg) Rock-bottom prices for Canadian oil and a lack of demand are setting the stage for “inevitable” production cuts, according to Goldman Sachs, which says the industry could run out of storage space within weeks. Landlocked Canadian crude could see prices go negative — meaning producers would pay customers to take … Read moreOil Storage Tanks Are Filling Up, Making Production Cuts ‘Inevitable’ in Canada

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Heavy discount widens as monthly trading cycle begins

Cenovus selling Pelican Lake operations to Canadian Natural for $975 million

April 1, 2020 Canadian heavy crude’s discount widened versus U.S. benchmark West Texas Intermediate (WTI) oil on Wednesday, the first day of the monthly trading cycle.Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, traded at $16.65 per barrel below WTI, according to NE2 Canada Inc, wider than Tuesday’s settle of … Read moreHeavy discount widens as monthly trading cycle begins

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Canada energy firms fret as Ottawa labors over promised aid package

April 1, 2020 Reuters A government aid package for struggling Canadian energy firms has run into weeks of delays, in part because officials are still trying to obtain up-to-date data, according to three sources familiar with the matter. The oil and gas sector in the western province of Alberta, home to the world’s third-largest crude reserves, … Read moreCanada energy firms fret as Ottawa labors over promised aid package

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Trump says he expects Saudi-Russia oil production deal in coming days

April 1, 2020 Reuters U.S. President Donald Trump said on Wednesday he expected Saudi Arabia and Russia to reach a deal in the next few days on oil production to end a price war that has “ravaged” the oil industry worldwide.“I think that they will work it out over the next few days. … Both know … Read moreTrump says he expects Saudi-Russia oil production deal in coming days

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Perpetual Energy Inc. Announces Strategic Transaction, Credit Facility Update and 2020 Outlook

April 1, 2020 CNW CALGARY – (TSX: PMT) Perpetual Energy Inc. (“Perpetual” or the “Company”) is pleased to announce that it has sold a 50% working interest in its East Edson property for consideration consisting of $35 million in cash and the carried interest funding of the Company’s remaining 50% working interest share in an eight-well drilling program (the “East Edson Transaction”). Concurrent … Read morePerpetual Energy Inc. Announces Strategic Transaction, Credit Facility Update and 2020 Outlook

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Briko Energy Announces its 2019 Year-End Reserves and Complementary Acquisition Update

April 1, 2020 Newsfile Calgary, Alberta – Briko Energy Corp. (“Briko” or the “Corporation”) is pleased to announce its 2019 year-end reserves and Complementary Acquisition update. 2019 Reserve Highlights Proved (“1P”) reserves increased 6% to 2.4 million barrels of oil equivalent (“BOE”) at December 31, 2019 compared to 2.3 million BOE at December 31, 2018; Proved … Read moreBriko Energy Announces its 2019 Year-End Reserves and Complementary Acquisition Update

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CAODC calls Alberta Government investment in Keystone XL a “shot of adrenalin”.

The Canadian Association of Oilwell Drilling Contractors believes the Alberta Government’s $1.5 billion investment in the Keystone XL pipeline and $6 billion loan guarantee for TC Energy to backstop the project are a shot of adrenalin for Canada’s struggling oil and gas sector. It is expected that the injection of funds from the province will … Read moreCAODC calls Alberta Government investment in Keystone XL a “shot of adrenalin”.

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Five Things to Know in World Business Today

By Lorcan Roche Kelly Apr 1, 2020 (Bloomberg) Trump warns of painful two weeks, bank shares slump on dividend halt, and Saudi Arabia moves ahead on plan to flood oil market. Here are some of the things people in markets are talking about today. Reality sets in There was a notable change in tone from President Donald Trump when he addressed … Read moreFive Things to Know in World Business Today

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PETRUS RESOURCES ANNOUNCES TERMINATION OF PREVIOUSLY ANNOUNCED DISPOSITION AND OPERATIONS UPDATE

April 01, 2020 | Source: Petrus Resources Ltd. CALGARY, Alberta, April 01, 2020 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX:  PRQ) announces the termination of its previously announced disposition of its oil and natural gas interests in the Foothills area (the “Disposition”). Petrus has been advised in writing by the purchaser that … Read morePETRUS RESOURCES ANNOUNCES TERMINATION OF PREVIOUSLY ANNOUNCED DISPOSITION AND OPERATIONS UPDATE

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Trump Says World’s Biggest Oil Producers to Meet on Market Crash

By Justin Sink and Brian Eckhouse Apr 1, 2020 (Bloomberg) President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices.Trump, speaking at the White House Tuesday, said he’s raised the issue in conversations with Russian President Vladimir Putin and Saudi Crown Prince … Read moreTrump Says World’s Biggest Oil Producers to Meet on Market Crash

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Oil Holds Above $20 as Saudi Output Surges, Russia’s Won’t Rise

Oil-Prices

By Alex Longley  Apr 1, 2020 (Bloomberg)  Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes.Crude futures in New York were little changed Wednesday, following a record decline in the first quarter. While state-run Aramco’s oil supply … Read moreOil Holds Above $20 as Saudi Output Surges, Russia’s Won’t Rise

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Hit by Twin Shocks, Canadian Markets Face Treacherous Recovery

By Divya Balji, Susanne Barton and Paula Sambo  Apr 1, 2020 (Bloomberg)In a span of about six weeks, Canadian stocks posted their swiftest ever descent from bull to bear market, the loonie tumbled, corporate credit spreads sprang to the widest since 2009 and liquidity all but vanished at times. The head-spinning quarter has left Canadian … Read moreHit by Twin Shocks, Canadian Markets Face Treacherous Recovery

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Westech Industrial: Essential Services Announcement for Ontario and Quebec

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Essential Services Dear Valued Customers and Partners, Following the announcements made on March 23, 2020, by the Ontario and Quebec governments in regards to the closure of all non-essential businesses, Westech can confirm that we will continue to operate and remain open to serve our customers who are considered essential services. As a product and … Read moreWestech Industrial: Essential Services Announcement for Ontario and Quebec

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An Overview on Acoustic Emission Testing – Stress Engineering Services

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When materials are cracking, deforming or otherwise becoming damaged, they produce a kind of sound. Sometimes, these sounds are loud and obvious. Other times, they are much more subtle, and to detect them, you need to use specialized equipment. Detecting these subtler sounds through acoustic emission testing (AET) can reveal cracks and other defects that are forming … Read moreAn Overview on Acoustic Emission Testing – Stress Engineering Services

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KPMG: Resilience in Energy – Collective action to weather the storm.

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By Michael McKerracher, Partner, National Industry Leader, Energy and Natural Resources KPMG in Canada These are unprecedented times!  Our industry has some unparalleled obstacles to overcome.  The COVID19 pandemic is creating remarkable demand destruction, which is something I have not seen in my 30 years in the industry.  In addition, the breakdown of OPEC+ has … Read moreKPMG: Resilience in Energy – Collective action to weather the storm.

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XI Technologies: What can the oil and gas industry do while waiting for the next “new normal”?

Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here.  With our industry currently dealing with the dual challenges of physical distancing due … Read moreXI Technologies: What can the oil and gas industry do while waiting for the next “new normal”?

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Alberta pipeline spending shows need to fix Canada’s regulatory system: Taxpayers Federation – CTF

Tuesday, March 31, 2020 Calgary, AB: The Canadian Taxpayers Federation is highlighting the need to fix Canada’s regulatory system so job creators can build pipelines without relying on taxpayers. “Politicians needs to get their act together so we can get big projects built and taxpayers aren’t put on the hook for pipelines,” said Franco Terrazzano, Alberta … Read moreAlberta pipeline spending shows need to fix Canada’s regulatory system: Taxpayers Federation – CTF

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The Shift to Digital Marketing to Survive COVID-19: See EnergyNow’s Reduced Pricing, Extended Coverage & Digital Support! – Click HERE for Details

“Social Distancing” Does Not Mean “Business Distancing” THE TIME IS NOW to Ensure Your Marketing  Strategy Includes a Strong Digital Marketing Presence! Keep Your Company in Sight & Relevant, Not Out-of-Mind! THE WORLD HAS CHANGED QUICKLY! In just a few short weeks (and well into the foreseeable future), a strong digital marketing presence just became … Read moreThe Shift to Digital Marketing to Survive COVID-19: See EnergyNow’s Reduced Pricing, Extended Coverage & Digital Support! – Click HERE for Details

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OPEC rift widens as group fails to set date for emergency talks

March 31, 2020  Reuters A rift in the Organization of the Petroleum Exporting Countries (OPEC) has widened after members failed to agree unanimously on an emergency low-level meeting to discuss a market collapse that has seen global oil prices hit 18-year lows.OPEC president Algeria, which has been instrumental in organising the producer group’s efforts to … Read moreOPEC rift widens as group fails to set date for emergency talks

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Unifor unable to accept the Co-op Refinery final offer

March 31, 2020 CNW REGINA – After carefully analyzing the final offer tabled on March 30, 2020 by Co-op Refinery, the Unifor Local 594 Bargaining Committee is recommending the membership reject the offer when the forced final vote is conducted by the Saskatchewan Labour Board. The Co-op’s latest final offer, their second in five days, includes new concessions … Read moreUnifor unable to accept the Co-op Refinery final offer

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Statement by Minister Seamus O’Regan Following the Announcement by TC Energy of a Final Investment Decision for the Keystone XL Project

March 31, 2020 CNW OTTAWA, March 31, 2020 /CNW/ – Today, Canada’s Minister of Natural Resources, the Honourable Seamus O’Regan, released this statement following the announcement by TC Energy of a final investment decision for the Keystone XL project: “This is good news for our oil and gas industry. It comes at a time when the industry needs it. It means thousands … Read moreStatement by Minister Seamus O’Regan Following the Announcement by TC Energy of a Final Investment Decision for the Keystone XL Project

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CAODC applauds the Federal Government for its wage support announcement.

The Canadian Association of Oilwell Drilling Contractors applauds the Government of Canada for its wage support announcement of a 75 percent wage subsidy for drilling and well-servicing businesses. The program will help oilfield service companies keep Canadians employed through the COVID-19 pandemic. Canada’s oil and gas service sector is facing a crisis, unlike anything ever … Read moreCAODC applauds the Federal Government for its wage support announcement.

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Five Things to Know in World Business Today

By Lorcan Roche Kelly Mar 31, 2020 (Bloomberg) Congress looks to another stimulus package, economic forecasts worsen, and some relief for oil. Here are some of the things people in markets are talking about today. Ready to do more The White House and congressional Democrats are preparing for another round of economic stimulus to get the U.S. through the virus … Read moreFive Things to Know in World Business Today

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Saudis Start to Unleash Oil Wave Despite U.S. Political Pressure

By Javier Blas and Brian Wingfield  Mar 31, 2020 (Bloomberg)Saudi Arabia has made good on its pledge to ramp up oil exports in April, with a first wave of crude already on its way toward Europe and the U.S., a clear sign the oil price war remains in full swing.The kingdom has loaded several of … Read moreSaudis Start to Unleash Oil Wave Despite U.S. Political Pressure

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Trump and Putin Are All Talk on Oil Price Plunge: Julian Lee

By Julian Lee Mar 31, 2020 (Bloomberg Opinion) Well there’s a surprise. During a telephone conversation on Monday, Presidents Donald Trump and Vladimir Putin “agreed on the importance of stability in global energy markets.” However, it’s very unlikely either will go beyond extolling stability and waiting for (or pressuring) somebody else to do something about it.According to the Kremlin, energy officials from … Read moreTrump and Putin Are All Talk on Oil Price Plunge: Julian Lee

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From Oil Roughneck to Cowboy, Alberta Workers Consider Career Change

By Jen Skerritt and Kevin Orland Mar 30, 2020 (Bloomberg)One month ago, nobody responded to Nicki Murray’s help-wanted ad for truckers to unload goods at Alberta’s feedlots. Now, she’s getting half a dozen responses a week. “Obviously, people are needing or wanting more work,” said Murray, owner of JF Murray Farms in Picture Butte, Alberta. … Read moreFrom Oil Roughneck to Cowboy, Alberta Workers Consider Career Change

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Oil Heads for Worst Quarter Ever as Real Crude Prices Plunge

Oil-Prices

By Sharon Cho and Alex Longley  Mar 31, 2020 (Bloomberg)Oil clawed back some losses as Chinese manufacturing data beat expectations, but futures were still heading for the worst quarter on record as the physical market showed further signs of collapse. Futures in New York were higher on Tuesday but crude is still down 65% since the end … Read moreOil Heads for Worst Quarter Ever as Real Crude Prices Plunge

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FieldCap Announces a SPECIAL OFFER to Help Service Companies Transition Quickly to Web-Based Ticketing While Their Staff and Customers Work Remotely

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Stating the obvious – these are crazy times. For most of us, unprecedented times. Times where we need to rely upon and be open to the strength and commitment of our communities to carry us forward. As we try to comprehend and process the current state of affairs facing the world and our industry we … Read moreFieldCap Announces a SPECIAL OFFER to Help Service Companies Transition Quickly to Web-Based Ticketing While Their Staff and Customers Work Remotely

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TC Energy to Build Keystone XL Pipeline – Thousands of New Jobs, Billions in Economic Stimulus and Enhanced North American Energy Security

Construction will lead to thousands of new jobs, billions in economic stimulus and enhanced North American energy security March 31, 2020 | Source: TC Energy Corporation CALGARY, Alberta and HOUSTON, March 31, 2020 (GLOBE NEWSWIRE) — – News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it will proceed with … Read moreTC Energy to Build Keystone XL Pipeline – Thousands of New Jobs, Billions in Economic Stimulus and Enhanced North American Energy Security

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Gemini Fabrication: Price, Delivery, Safety, Quality – A team you can count on; A product you can trust

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Alberta’s #1 fabricator and packager of process equipment Gemini Fabrication is excited to announce a brand new website. We have been hard at work to provide an online experience that sets us apart and showcases Gemini’s commitment to providing value on your next project.   Gemini has a built a strong reputation for providing high … Read moreGemini Fabrication: Price, Delivery, Safety, Quality – A team you can count on; A product you can trust

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FORTRESS NORTH AMERICA: This is Why We Need a Floor Price for Oil – David Yager

March 30, 2020 By David Yager It is now clear that sometime in the second quarter the world’s oil industry will be facing the most difficult financial challenge in its existence. Storage will be full, production will exceed demand by 10 million barrels per day or more, and unhedged production will only fetch a fraction … Read moreFORTRESS NORTH AMERICA: This is Why We Need a Floor Price for Oil – David Yager

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The Petroleum Services Association of Canada Announces Interim President and CEO

PSAC_Feature

Gary Mar resigns from PSAC effective April 15, 2020 CALGARY, AB, March 30, 2020 – The Petroleum Services Association of Canada (PSAC) announces today that Gary Mar has resigned as President and CEO of the Association, effective April 15, 2020 to accept a position in another organization. “In the interim, Senior Vice President Elizabeth Aquin … Read moreThe Petroleum Services Association of Canada Announces Interim President and CEO

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Obsidian Energy Announces Completion of Agreements with our Banking Syndicate, Noteholders and Landlord

March 29, 2020 CNW CALGARY – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) is pleased to announce completion of agreements with our lenders and building landlord. All figures are in Canadian dollars unless otherwise stated. Further to our recent announcements, the Company has executed final agreements resulting … Read moreObsidian Energy Announces Completion of Agreements with our Banking Syndicate, Noteholders and Landlord

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Inter Pipeline Announces Reduction to Monthly Cash Dividend, Suspension of Dividend Reinvestment Plan and Business Update

March 30, 2020 CNW CALGARY – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today measures to provide greater financial strength and flexibility for its capital program in response to the significant decrease in global energy prices and the COVID-19 pandemic. In summary, these measures include: Dividend reduction of 72% Suspension of the Premium DividendTM and Dividend Reinvestment Plan … Read moreInter Pipeline Announces Reduction to Monthly Cash Dividend, Suspension of Dividend Reinvestment Plan and Business Update

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Taxpayers Federation calls for a freeze on carbon tax and other taxes

Monday, March 30, 2020 Tax relief must form a key part of governments’ economic rescue efforts Tax hikes should be postponed for the duration of coronavirus crisis, including the planned federal carbon tax hike scheduled for April 1 Federal parliamentarians should also donate pay hike coming into effect for April 1 OTTAWA, ON: The Canadian … Read moreTaxpayers Federation calls for a freeze on carbon tax and other taxes

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Alberta’s energy war room to spend only on ‘subsistence operations’ due to COVID-19

EDMONTON — Alberta’s $30-million-a-year energy war room is drastically cutting its budget due to COVID-19.
The province announced late Monday that the Canadian Energy Centre is reducing its current operating budget by 90 per cent in order to “reflect …

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Oilsands producers in the red as blended bitumen price dips below $4 per barrel

CALGARY — Oilsands producers are likely losing money or barely breaking even as prices for Western Canadian Select bitumen-blend crude dipped as low as US$3.82 per barrel on Monday, analysts said.
Realized prices for bitumen likely crossed into negati…

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Point Loma Resources Announces Termination of Further Closings of the Wizard Lake Property Disposition

March 30, 2020 CALGARY – Point Loma Resources Ltd. (TSX-V:PLX) (“Point Loma” or the “Corporation“) announces the termination of further closing steps in the previously announced disposition of the Wizard Lake Property. Termination of Purchase and Sale Agreement (“PSA”) Further to the Corporation’s press release on December 17, 2019, the Corporation has been advised in writing … Read morePoint Loma Resources Announces Termination of Further Closings of the Wizard Lake Property Disposition

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Five Things to Know in World Business Today

By Lorcan Roche Kelly Mar 30, 2020 (Bloomberg) Trump extends virus guidance to end of April, countries add more stimulus, and the oil market is just broken. Here are some of the things people in markets are talking about today. Changing plans President Donald Trump abandoned his goal to reopen the U.S. economy in two weeks time, … Read moreFive Things to Know in World Business Today

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Oil Plummets to 17-Year Low as Broken Market Drowns in Crude

By Alex Longley  Mar 30, 2020 (Bloomberg)Oil tumbled to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus.Futures in London fell as much as 9.4% to the lowest since November 2002, while New York crude briefly dipped below $20 a barrel. … Read moreOil Plummets to 17-Year Low as Broken Market Drowns in Crude

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TOSCANA ENERGY ENTERS INTO AN OPTION AGREEMENT WITH i3 ENERGY PLC, AND ANNOUNCES THE ASSIGNMENT OF ITS SENIOR BANK DEBT AND SUBORDINATED NOTE AND THE RELEASE OF ITS FOURTH QUARTER AND YEAR END 2019 RESULTS

March 30, 2020 02:01 ET | Source: Toscana Energy Income Corporation CALGARY, Alberta, March 30, 2020 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana” or the “Company“) (TSX:TEI) is pleased to announce that the Company has entered into an option agreement (the “Option Agreement“) with i3 Energy plc (“i3 Energy“), an AIM-listed oil and gas company with … Read moreTOSCANA ENERGY ENTERS INTO AN OPTION AGREEMENT WITH i3 ENERGY PLC, AND ANNOUNCES THE ASSIGNMENT OF ITS SENIOR BANK DEBT AND SUBORDINATED NOTE AND THE RELEASE OF ITS FOURTH QUARTER AND YEAR END 2019 RESULTS

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Parkland provides business update related to COVID-19

March 30, 2020 07:18 ET | Source: Parkland Fuel Corporation CALGARY, Alberta, March 30, 2020 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today in response to the uncertain economic impact of novel coronavirus (“COVID-19”): a reduction in its 2020 Capital Expenditure program, the withdrawal of its 2020 Adjusted EBITDA guidance, reiteration … Read moreParkland provides business update related to COVID-19

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Trends Impacting Directors’ & Officers’ Liability in 2020 – Iridium Risk Services

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C-Suite and Board of Directors around the world are being tested as they navigate through uncertain times. COVID-19 and other trends are being discussed to determine their impact on the organization. Consider your Directors and Officers Liability program and its ability to respond to each of these trends. Download the 2020 D&O Trends Report As you review … Read moreTrends Impacting Directors’ & Officers’ Liability in 2020 – Iridium Risk Services

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Minimizing the Maintenance of Inerting Systems – WESTECH

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Controlling the oxygen level in safety-relevant applications can be significantly improved with in situ systems based around tunable diode laser (TDL) sensors. In situ TDLs not only avoid all the drawbacks of conditioning and sampling systems, they also allow fast measurement where it matters most – directly in the process line or vessel. Often, these … Read moreMinimizing the Maintenance of Inerting Systems – WESTECH

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Managing COVID-19: Important Resources for Energy Companies

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When we feel a global impact like the one from novel coronavirus (COVID-19), we need to be prepared to adapt and keep every aspect of your business safe—from pivoting immediately to formulating long-term strategies for success. Above all, the people driving your businesses are priority. BDO teams across the country are proactively engaged and rapidly … Read moreManaging COVID-19: Important Resources for Energy Companies

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WEBINAR April 2: Top 6 Tools for Working Remotely

How to keep your team productive while working remotely How To Work Remotely It seems that the entire world is adjusting to the new normal of working from home. At Aimsio we’ve had a work from home policy in place for years, meaning we’ve tried and tested all sorts of remote working tools. Join us … Read moreWEBINAR April 2: Top 6 Tools for Working Remotely

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Osperity Launches a New All-In-One Solution “OMNI” to Help Companies in the Energy Industry to Manage Their Remote Assets Safely and More Efficiently

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Osperity’s all-in-one OMNI solution empowers organizations to remotely monitor and inspect industrial sites & assets with visual AI-driven event detection and exception-based alerting. OMNI – Only a Low $125 Per Month Click here to see the benefits and the savings

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The Coronavirus Means It’s A Truly Free Market For Oil – Julian Lee

By Julian Lee  Mar 28, 2020 (Bloomberg Opinion) At the point we’re now at, postponing the oil-price war won’t make a lot of difference for an industry that’s already breaking down under the weight of demand destruction. It’s too late to use diplomacy and artful negotiations to share the burden of output cuts that are now inevitable.The pumping free-for-all … Read moreThe Coronavirus Means It’s A Truly Free Market For Oil – Julian Lee

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Canada Weekly Rig Count Down 44 for Week Ending March 27, 2020

Canada’s drilling rig count is down 44 actively drilling rigs according to data collected by Baker Hughes for the week ending March 27, 2020. From one week ago, Alberta rig counts decreased 27 to 46 and the Saskatchewan rig counts decreased 11 to 1. Oil drilling decreased 34 to 18 and gas decreased 10 to … Read moreCanada Weekly Rig Count Down 44 for Week Ending March 27, 2020

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Alberta sees ‘no point’ in bigger oil curtailment orders – Premier

March 27, 2020 Reuters Alberta sees “no point” in further increases to its restrictions on oil production amid a global glut, because low prices are prompting voluntary reductions, Premier Jason Kenney said on Friday. A Saudi-Russia price war and reduced oil demand due to coronavirus spread have put the world’s crude producers, including in Canada, under … Read moreAlberta sees ‘no point’ in bigger oil curtailment orders – Premier

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Newfoundland Becomes First North American Refinery to Shut With Fuel Demand Plunging

By David Marino  Mar 29, 2020 (Bloomberg) Newfoundland’s only refinery is shutting down, the first North American fuel maker to be idled as the coronavirus outbreak crushes demand worldwide. North Atlantic Refining Ltd. will idle the Come by Chance refinery, VOCM radio reported on its website, citing Glenn Nolan, the president of United Steelworkers Local 9316. The … Read moreNewfoundland Becomes First North American Refinery to Shut With Fuel Demand Plunging

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Global oil refiners shut down as coronavirus destroys demand

March 29, 2020 The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns.Italy’s API said it would close operations temporarily at its Ancona refinery, which has capacity of 85,000 barrels per day (bpd). In … Read moreGlobal oil refiners shut down as coronavirus destroys demand

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Fusion Production Systems Inc

The Global Oil Market Is Broken, Drowning in Crude Nobody Needs Right Now

By Javier Blas, Alex Longley and Sheela Tobben Mar 28, 2020 (Bloomberg)  The global oil market is broken, overwhelmed by an unmanageable surplus as virus lockdowns cascade through the world’s largest economies. Onshore tanks in many markets are full, forcing traders to store excess oil in idle supertankers. Refineries are starting to shut down because … Read moreThe Global Oil Market Is Broken, Drowning in Crude Nobody Needs Right Now

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Saudis Hold Firm on No Talks With Russia On Oil Output Cuts

By Javier Blas and Olga Tanas Mar 27, 2020 (Bloomberg) Saudi Arabia held firm on its position in the price war with Russia, saying on Friday that the kingdom hasn’t had any contacts with Moscow about oil production cuts or enlarging the OPEC+ alliance. The comments from the Saudi Energy Ministry dispelled speculation that Riyadh and … Read moreSaudis Hold Firm on No Talks With Russia On Oil Output Cuts

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The Sky’s the Limit for Stimulus in Canada’s Bid to Salvage Economy

By Kait Bolongaro and Shelly Hagan Mar 28, 2020 (Bloomberg)Canada’s policy makers unleashed the full power of the state on Friday, pledging open-ended support that could result in the largest government intervention in the economy since World War II. In a coordinated response to an increasingly bleak outlook, Prime Minister Justin Trudeau’s government doubled its existing stimulus … Read moreThe Sky’s the Limit for Stimulus in Canada’s Bid to Salvage Economy

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U.S. oil drillers cut the most rigs in a week in nearly 5 years -Baker Hughes

By Scott DiSavino March 27 (Reuters) – U.S. energy firms cut the most oil rigs in a week since April 2015, removing rigs for a second week in a row as a coronavirus-related slump in economic activity and fuel demand has forced massive retrenchment in investment by oil and gas companies. Drillers cut 40 oil … Read moreU.S. oil drillers cut the most rigs in a week in nearly 5 years -Baker Hughes

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Why Companies Are Turning To Digital Marketing To Survive COVID-19 – Bernard Marr: Forbes.com

Bernard Marr Enterprise Tech In the coming days, weeks and months, businesses are going to become more reliant than ever on their digital strategy. Without wanting to sound too alarmist, in many cases it will be the deciding factor in whether they make it through the tough times ahead. The unprecedented, almost-total disappearance of all … Read moreWhy Companies Are Turning To Digital Marketing To Survive COVID-19 – Bernard Marr: Forbes.com

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Prairie Provident Resources Announces Fourth Quarter and Year-End 2019  Financial and Operating Results

March 26, 2020  | Source: Prairie Provident Resources Inc. CALGARY, Alberta, March 26, 2020 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce our operating and financial results for the three months and year ended December 31, 2019. PPR’s audited consolidated financial statements and related Management’s Discussion and Analysis … Read morePrairie Provident Resources Announces Fourth Quarter and Year-End 2019  Financial and Operating Results

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10 Ways to Lead in Turbulent Times – Sherri Hilton, MAL, CEC, PCC

by Sherri Hilton Work from home. Physical distancing. Self-isolation. Quarantines. Layoffs. Job losses. Market crashes.  These are just a few of the phrases that have become commonplace over the past ten days.  As a leader these are truly the most difficult of times and now, more than ever, the world needs calm, resilient, and compassionate … Read more10 Ways to Lead in Turbulent Times – Sherri Hilton, MAL, CEC, PCC

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Five Things to Know in World Business Today

By Lorcan Roche Kelly Mar 27, 2020 (Bloomberg) The economy needs fast bureaucracy, U.S. virus cases surpass China, and markets slip. Here are some of the things people in markets are talking about today. Bill speed The House is set to pass the $2 trillion stimulus package today and send it to the White House for President Donald Trump’s signature. … Read moreFive Things to Know in World Business Today

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Oil Industry Braces for Biggest Idling of Wells in 35 Years

By Javier Blas  Mar 27, 2020 (Bloomberg) Only the old hands at the Coffeyville oil refinery could remember anything like the prices posted this month. The small Kansas plant in the heart of rural America was offering just $1.75 a barrel for Wyoming sweet crude.With more than two billion people on virus lockdown from India to … Read moreOil Industry Braces for Biggest Idling of Wells in 35 Years

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Federal deficit to top $112 billion or more in coming year due to COVID-19, PBO says

OTTAWA — Parliament’s budget watchdog is projecting that the federal deficit for the coming fiscal year could be $112.7 billion, a jump of $89.5 billion from previous forecasts as government spending climbs to combat the economic fallout from COVID-19…

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Oil Near $23 as Traders Weigh Stimulus Versus Demand Woes

By Alex Longley and Ann Koh Mar 27, 2020 (Bloomberg) Oil traded near $23 as traders weighed the collapse in global consumption as a result of the coronavirus outbreak, which continues to roil markets, against a broader fiscal response.Futures in New York pared earlier gains but are set to eke out a small weekly increase. While … Read moreOil Near $23 as Traders Weigh Stimulus Versus Demand Woes

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Canadian Crude Is So Cheap It Costs More to Ship It Than Buy It

By Robert Tuttle Mar 27, 2020 (Bloomberg) Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself, a situation that may result in even more oil-sands producers shutting operations.Western Canadian Select crude in Alberta dropped $2.84 to a record low of $6.45 a … Read moreCanadian Crude Is So Cheap It Costs More to Ship It Than Buy It

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Delphi Energy Corp. Provides an Operations Update

March 27, 2020  | Source: Delphi Energy Corporation CALGARY, Alberta, March 27, 2020 (GLOBE NEWSWIRE) — Delphi Energy Corp. (TSX: DEE) (“Delphi” or the “Company”) is pleased to provide an operations update on its first three wells of the 2020 capital program. Completion operations on the Company’s first three Montney wells (3.0 net) in the 2020 drilling program … Read moreDelphi Energy Corp. Provides an Operations Update

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Canadian Oil Companies Ask Government For Cash, Credit to Weather Twin Shocks

March 25, 2020 Canadian oil and gas companies are urging Ottawa to free up credit and cash to help them survive the twin shocks of COVID-19 spread and a crude price war, pitching ideas ranging from tax deferrals to backstopping bank loans.The country’s oil patch is on “life support” after the Saudi-Russian oil price war … Read moreCanadian Oil Companies Ask Government For Cash, Credit to Weather Twin Shocks

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Schachter’s Eye on Energy: Big swing in stock markets and energy prices – a bottom is in the making

Each week Josef Schachter will give 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 31 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read moreSchachter’s Eye on Energy: Big swing in stock markets and energy prices – a bottom is in the making

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Opinion: Notes from Flight 163, The Oilsands Shuttle From Toronto to Edmonton – Stewart Muir

By Stewart Muir | March 25, 2020 On a recent Monday morning, I found myself on Air Canada Flight 163 from Toronto Pearson to Edmonton. As the plane loaded, I began to sense there was something not so regular about the passengers boarding the Airbus 320 for a regularly scheduled flight.Unlike those I more typically see on … Read moreOpinion: Notes from Flight 163, The Oilsands Shuttle From Toronto to Edmonton – Stewart Muir

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U.S. Department of Energy ditches plans to buy oil for strategic reserve

The U.S. Department of Energy said on Thursday it has ditched plans to purchase crude for the nation’s emergency reserve due to a lack of funding from Congress, dealing a blow to President Donald Trump’s plan to give relief to energy companies amid the global oil market collapse. Energy Secretary Dan Brouillette had asked lawmakers … Read moreU.S. Department of Energy ditches plans to buy oil for strategic reserve

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Hemisphere Energy Grows PDP Reserve Value by 69% to $116 Million (Discounted at 10%), and Increases 2P Reserve Value by 18% to $235 Million (Discounted at 10%)

March 26, 2020 Newsfile Vancouver, British Columbia – Hemisphere Energy Corporation (TSXV: HME) (“Hemisphere” or the “Company”) is pleased to announce highlights from its independent reserves evaluation effective as at December 31, 2019 prepared by McDaniel & Associates Consultants Ltd. (“McDaniel”). Following the discussion on reserves, Hemisphere has included an update to its corporate outlook and … Read moreHemisphere Energy Grows PDP Reserve Value by 69% to $116 Million (Discounted at 10%), and Increases 2P Reserve Value by 18% to $235 Million (Discounted at 10%)

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Five Things to Know in World Business Today

By Lorcan Roche Kelly Mar 26, 2020 (Bloomberg) All eyes on jobless claims, Senate passes $2 trillion virus plan, and WHO says countries are wasting time. Here are some of the things people in markets are talking about today. Record number This week’s initial jobless claims data at 8:30 a.m. Eastern Time is the most hotly anticipated in years … Read moreFive Things to Know in World Business Today

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Oil Rally Falters With Demand Dread Precipitating Huge Glut

Oil-Prices

By Ann Koh and Alex Longley Mar 26, 2020 (Bloomberg)Oil’s recovery rally went into reverse as broad weakness across physical crude markets compounded mounting evidence of the demand devastation being wrought by the coronavirus.Futures in New York fell 3.2% to below $24 a barrel. Goldman Sachs Group Inc. warned that crude demand would decline by … Read moreOil Rally Falters With Demand Dread Precipitating Huge Glut

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U.S. Calling on Saudis to Halt Plan to Unleash Record Oil Supply

By Glen Carey, Javier Blas, Nick Wadhams and Stephen Cunningham Mar 25, 2020, 4:25 PM (Bloomberg)The Trump administration is pressing Saudi Arabia to dial back its plan to flood the oil market after a price war with Russia sent crude prices crashing to their lowest levels in almost two decades.The U.S. wants Saudi Arabia to … Read moreU.S. Calling on Saudis to Halt Plan to Unleash Record Oil Supply

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Property Shares a Haven No More in Canada With Rent Woes Brewing

By Derek Decloet Mar 25, 2020 (Bloomberg) Real estate companies helped push the Canadian stock market to a record high before the coronavirus crisis. Now the sector is proving to be a millstone. Real estate is the second worst-performing group in the S&P/TSX Composite Index since the market peak of Feb. 20, dropping 43%. Only energy … Read moreProperty Shares a Haven No More in Canada With Rent Woes Brewing

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Morneau Says Canada Planning New Virus Aid Measures This Week

By Theophilos Argitis and Kait Bolongaro (Bloomberg) Canadian Finance Minister Bill Morneau told lawmakers in the Senate that he is planning to make another announcement this week on measures to help the economy.The comments came after the governing Liberals reached a deal in the House of Commons on an C$82 billion  stimulus package to bolster an … Read moreMorneau Says Canada Planning New Virus Aid Measures This Week

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PRECISION DRILLING ANNOUNCES RECEIPT OF CONTINUED LISTING STANDARD NOTICE FROM NYSE

Precision-Drilling-Feature

March 25, 2020  | Source: Precision Drilling Corporation This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For important information with respect to such forward-looking information and statements and the further assumptions and risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in … Read morePRECISION DRILLING ANNOUNCES RECEIPT OF CONTINUED LISTING STANDARD NOTICE FROM NYSE

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Baytex Receives NYSE Listing Notification

March 25, 2020 Globe Newswire CALGARY, Alberta – Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE) announced that it received notification on March 24, 2020 from the New York Stock Exchange (“NYSE”) that Baytex is no longer in compliance with one of the NYSE’s continued listing standards because the average closing price of Baytex’s common shares was … Read moreBaytex Receives NYSE Listing Notification

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Headwater Exploration Inc. Announces 2019 Reserves, Fourth Quarter and Year End 2019 Operating and Financial Results, Operations Update and Adoption of New By-Laws

March 25, 2020 CALGARY – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX:HWX) announces its operating and financial results for the three months and year ended December 31, 2019. Selected financial and operational information is outlined below and should be read in conjunction with the audited financial statements and the related management’s discussion and analysis (“MD&A”).  These filings will be available at www.sedar.com and … Read moreHeadwater Exploration Inc. Announces 2019 Reserves, Fourth Quarter and Year End 2019 Operating and Financial Results, Operations Update and Adoption of New By-Laws

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Sick worker at oilsands lodge north of Fort McMurray tests negative for COVID-19

FORT MCMURRAY, Alta. — The operator of a work lodge north of Fort McMurray, Alta., says a guest who fell ill last week does not have COVID-19.
Houston-based Civeo Corp. said last Friday the worker was taken to hospital with symptoms consistent with th…

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‘We Did it Right:’ COVID-19 Scare at Oilsands Work Camp Tests Businesses’ Plans

CALGARY — A COVID-19 scare at an oilsands staff lodge north of Fort McMurray, Alta., last week tested the pandemic preparedness of one of the many businesses that house, feed and transport workers at resource extraction sites.
Civeo Corp., which runs …

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House of Commons passes legislation for COVID-19 help with unanimous support

Joan Bryden , The Canadian Press Trudeau announces fiscal package amid pandemic OTTAWA — The House of Commons has passed emergency legislation to free up $82 billion to help Canadians weather the COVID-19 crisis. After a day of tense negotiations, MPs began debating the bill in the wee hours of Wednesday morning, and a vote took … Read moreHouse of Commons passes legislation for COVID-19 help with unanimous support

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Global oil storage fills to the brim despite leap in costs

March 25, 2020 Reuters Oil Storage Tanks at Cushing, OK From Canada and the Caribbean to the Baltic and Singapore, oil tanks around the world are filling fast, despite a 50%-100% jump in lease costs, as oil companies and traders scramble to park unwanted crude and refined products.Millions of barrels are struggling to find buyers among … Read moreGlobal oil storage fills to the brim despite leap in costs

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Five Things to Know in World Business Today

By Lorcan Roche Kelly Mar 25, 2020 (Bloomberg) Deal struck on U.S. stimulus, Germany opens the taps and markets add to rally. Here are some of the things people in markets are talking about today. Agreement Republican and Democrat Senators reached a deal with the White House on a stimulus package that is set to unleash more than $2 trillion in … Read moreFive Things to Know in World Business Today

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As Trump Seeks Pricier Oil, China Saves $250 Million Daily

By Dan Murtaugh, Alfred Cang and Debjit Chakraborty Mar 25, 2020 (Bloomberg) As the U.S. finds itself in the unfamiliar position of lobbying for higher oil prices, China’s enjoying what amounts to a major rebate from crude’s crash just as it tries to recover from the coronavirus.The world’s biggest oil importer is saving about $250 million a … Read moreAs Trump Seeks Pricier Oil, China Saves $250 Million Daily

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Oil Slumps Again as Collapsing Demand Counters Stimulus Efforts

By Alex Longley and Annmarie Hordern Mar 25, 2020 (Bloomberg) Oil turned lower on an unprecedented hit to consumption, even as policy makers committed trillions of dollars to offset the harm from the global pandemic.Futures in London erased earlier gains to trade down 3.3%. The boss of Vitol Group said demand is down about 15 … Read moreOil Slumps Again as Collapsing Demand Counters Stimulus Efforts

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Oil’s 60% Crash Is the Tip of an Iceberg. The Reality Is Worse

By Alex Longley and Javier Blas Mar 25, 2020 (Bloomberg) As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still.Having collapsed by about 60% this year, Brent and West Texas Intermediate crude have stabilized … Read moreOil’s 60% Crash Is the Tip of an Iceberg. The Reality Is Worse

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In Rare Step, Oil-Sands Giant Shuts Partial Output to Weather Rout

By Robert Tuttle  Mar 25, 2020 (Bloomberg) Record low prices for heavy Canadian crude have prompted one of the biggest operators in the oil sands to take the rare step of shutting production. Motivated by the “extremely low” prices, Suncor Energy Inc. announced on Tuesday that it will shut in one of its two so-called trains … Read moreIn Rare Step, Oil-Sands Giant Shuts Partial Output to Weather Rout

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PRAIRIESKY ANNOUNCES CHANGE TO VIRTUAL ANNUAL GENERAL MEETING ON APRIL 21, 2020

March 25, 2020 | Source: PrairieSky Royalty Ltd. CALGARY, Alberta, March 25, 2020 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) announces that its annual general meeting of holders of common shares scheduled for Tuesday, April 21, 2020 at 9:30 a.m. (MDT) at the Calgary Petroleum Club will be changed to a virtual … Read morePRAIRIESKY ANNOUNCES CHANGE TO VIRTUAL ANNUAL GENERAL MEETING ON APRIL 21, 2020

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Saturn Oil & Gas Inc. Provides Corporate Update and Confirms Response to COVID-19

March 25, 2020  | Source: Saturn Oil + Gas Inc CALGARY, Alberta, March 25, 2020 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) today provides a corporate update in response to recent market volatility caused by the COVID-19 pandemic and the continued oil price weakness. Saturn is pleased to … Read moreSaturn Oil & Gas Inc. Provides Corporate Update and Confirms Response to COVID-19

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Cenovus changes Annual Meeting of Shareholders to virtual webcast

March 25, 2020 | Source: Cenovus Energy Inc CALGARY, Alberta, March 25, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that its upcoming Annual Meeting of Shareholders (Shareholders Meeting) will now be held in a virtual only format. The Shareholders Meeting will be held at the originally scheduled date and time, on April … Read moreCenovus changes Annual Meeting of Shareholders to virtual webcast

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COVID-19 – Maintenance during Reduced Operations or Shutdown

Azzier Feature Logo 400x270

  These are certainly interesting times we find ourselves in. A global pandemic has now seeped through the porous borders of North America. In many places, employees are already working from home offices. Here in North America we are fortunate to have some of the most advanced infrastructure to support a remote workforce. However, most … Read moreCOVID-19 – Maintenance during Reduced Operations or Shutdown

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XI Technologies: The power of the remote office

Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. This week, XI’s President and CEO Darryl Stackhouse wanted to share his thoughts on the current situation. If you’d like to receive our Wednesday Word to the Wise … Read moreXI Technologies: The power of the remote office

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SAIT abrasives has no supply chain interruptions during COVID 19 crisis because we make our product in the USA! Get a quote from a local factory rep today – and support North American made products.

They last longer. Unlike many abrasive manufacturers, we only use premium grains, and we never use inferior fillers or bonding agents. With durable abrasives that continue to perform over time, you can avoid frequent re-orders and costly downtime. They’re safer. Our product line doesn’t include cut-rate abrasives because, frankly, cut-rate abrasives are accidents waiting to happen. When … Read moreSAIT abrasives has no supply chain interruptions during COVID 19 crisis because we make our product in the USA! Get a quote from a local factory rep today – and support North American made products.

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Bonavista Energy Corporation Provides Financial Update

March 24, 2020 Newsfile Calgary, Alberta  – Bonavista Energy Corporation (TSX: BNP) (“Bonavista” or the “Company“) and Canadian Imperial Bank of Commerce (“CIBC“) as administrative agent on behalf of a syndicate of lenders, including CIBC, The Toronto-Dominion Bank, Bank of Montreal, Royal Bank of Canada, The Bank of Nova Scotia, National Bank of Canada, ATB Financial and Federation … Read moreBonavista Energy Corporation Provides Financial Update

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Canadian Stocks Soar Nearly 10%, Most Since 2008

By Aoyon Ashraf Mar 24, 2020 Canadian shares bounced back with force on Tuesday, moving with a big rally in global equity markets.The S&P/TSX Composite Index rose as much as 10%, the biggest intraday jump since 2008, after falling to a 2011 low on Monday. All but two of the 230 stocks in the index … Read moreCanadian Stocks Soar Nearly 10%, Most Since 2008

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Business Recovery: Defining Your New Normal – MNP

MNP_logo_Feature

See the MNP COVID-19 Business Advice Centre  MNP Website Introduction COVID-19 has been an unprecedented challenge for business owners in Canada and around the world. Practically overnight, commerce has slowed, restaurants and shops have closed and those who can are working from home. In the face of this challenge, organizations look to implement policies and … Read moreBusiness Recovery: Defining Your New Normal – MNP

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