Oil & Gas
Oil output still down after restoring some COVID cutbacks: CER
Supply slipped by as much as 972,000 barrels per day by mid-May, about 700,000 bpd brought back online by early October.
Alberta cuts deal on municipal oilpatch levies; not unpaid property taxes
Industry will get a three-year break on property taxes for new wells, pipelines and new equipment.
Oil price stall, global uncertainty prompt caution from energy companies
Analyst says drawdowns are constructive, but the market remains reliant on drastic production cuts from OPEC+ to restore balance.
Suncor Energy will cut 10% to 15% of its workforce over next 18 months
Cuts are to be made across the entire organization; will also affect Suncor’s contracted workers.
TC Energy makes $2B offer to take over US pipeline partnership
Buyout of the partnership it doesn’t already own will require the pipeline company to issue as many as 35.2 million shares.
Shell plan to cut up to 9,000 jobs could result in 100s in Canada
Between 294 and 378 fewer jobs is the energy company’s cuts are proportionate.
Ottawa pitches in $320M to help NL offshore oil sector
The province is creating an oil and gas sector recovery task force.
Initiative aims to bring more women into chemical, oil and gas sector
Quebec’s chemical, petrochemical, refining and gas industry adopts tools to favour recruiting and integration.
BC disburses first half of federal funds to reclaim dormant oil and gas wells
There are about 7,000 dormant wells in B.C. and 770 orphan wells
Offshore workers call on government to stabilize industry
Unifor is calling on the federal and provincial government to make strategic investments in the industry.
NL can’t afford buy-in for Husky led oil offshore project: Premier
Company is re-evaluating its operations in the province, White Rose is more than half finished while several other offshore projects are delayed.
Husky asks for investment as it reviews West White Rose project
Project is under review as it deals with a one-year construction delay it implemented in March.
PetroChina, Ovintiv end joint venture, agree to split Alberta assets
Each to wind up with 13,000 barrels of oil equivalent per day and the same oil and gas reserves.
Oil sands pipeline partly closed following spill near Fort McMurray
Initial reports indicated about 550 barrels or 90,000 litres of light oil were released with no reported impacts.
Only private investment will save Canada’s economy
Generating, rather than consuming government revenues will require a profound reversal by the Trudeau government.