Oil & Gas
Canadian oilpatch cutbacks to continue despite OPEC deal
Doesn’t match the reduction in demand caused by measures taken to deal with the COVID-19 pandemic.
Deal to cut global oil production finalized, welcomed in Canada
Agreement between OPEC, Russia and other countries follows a glut that sent prices plunging.
Canada won’t tip hand on possibility of import tariffs on Saudi oil
Kenney wants a continental energy policy to help North America fight what he says are predatory pricing practices.
Alberta smartphone plan to enforce quarantines raises privacy questions
One plank of a “relaunch strategy” to get COVID-19 under control so economic activity can resume.
Energy company OK with Canada joining oil supply pact
Canadian Natural Resources president Tim McKay says the solution is acceptable as long as it is “broad-based” and fair to all participants.
Work starts in Montana on disputed Canada US oil pipeline
Project has been tied up for years in legal battles and several court challenges are still pending.
Parkland Fuel nears completion of maintenance at BC refinery
Will take two-weeks to reach full operational capability with additional safety measures taken due to COVID-19.
Cryopeak LNG Solutions breaks ground on new LNG production facility
First fully funded and permitted LNG production facility in the Fort Nelson, BC area.
Oilpatch workers face pay cuts, layoffs as companies react to low prices
Current downturn has hit the Calgary-based oilfield services sector hardest.
TC Energy enlists Alberta to help finish US$8B Keystone XL project
Province has agreed to invest about $1.5 billion as equity in the pipeline.
Big energy’s interest in renewable energy investments expected to waver
Report says that won’t likely slow overall investment; fossil fuel players weren’t putting much money into it anyway.
Woodfibre LNG delayed a year, virus slows component deliveries
The company is applying for a five-year extension to its environmental certificate which expires in October.
Suncor cuts $1.5B from budget to cope with low oil prices, virus impact
Cuts follow billions in spending reductions by other major oil sands players.
Canadian Natural cuts spending, as more producers trim capital plans
Will also cut CEO and other executive salaries and board members have agreed to cut their fees.
Pembina Pipeline cuts capital spending plan by up to $1.1B
Anticipating a revised 2020 capital budget of between $1.2 billion and $1.4 billion.
Spring breakup slowdown offers needed pause for hard hit drilling industry
Drilling will be reduced even more than usual: 31% decline forecast for average working rig count in Canada for the rest of 2020.
TC Energy starts US prep work for Keystone XL pipeline
Clearing a path through US states along the pipeline’s 1,930-kilometre route to begin soon.
Cenovus cuts 2020 capital spending plan, lowers production guidance
Now plans up to $1 billion this year, down from earlier plans for between $1.3 billion and $1.5 billion.
Oil price crash: what does it mean for Canada?
The turmoil is already affecting Canadian companies and consumers.
CPP investment CEO bullish on oil despite price crash, emissions debate
He cites demand for fossil fuels, which is expected to remain strong for many years.
All options on table to fight oil price collapse: Kenny
Alberta premier says province’s ability to continue contributing to federal taxes is now at risk.
OPEC looks to cut production as virus outbreak hits demand
Stalled air travel and manufacturing all but stopped in China, sapping demand for fuel following plunging crude prices.
Most Canadians unhappy with Trudeau’s handling of blockade crisis: poll
Respondents are split on whether the Coastal GasLink pipeline project should be stopped permanently or paused temporarily to negotiate further with Indigenous leaders.
Teck decision underscores investment crisis in Canada
The federal government is to blame for a significant drop in investment across 10 of the 15 major sectors of the Canadian economy.
New coronavirus stifling oil and gas economy: Kenny
Industry sideswiped as it works on efficiencies and reducing emissions, while the government focuses on job creation.
Suncor files application for base oil sands mine extension
Energy company is preparing for when the current base mine is depleted in about 2035.
Few approved oil sands projects stand to be built in near term: analysts
Output could grow by as much as 1.3 million bpd but more capacity for transport needed.
Alberta legislature resumes: Focus on jobs and bill to punish protesters
The government introduced a bill that proposes stiffer penalties for anyone who tries to shut down critical economic infrastructure, including railways
Kenney warns cancelled energy projects stand in the way of Indigenous prosperity
He announced that the Woodland Cree First Nation in northwest Alberta will receive a $187,688 grant to intervene in support of Alberta’s constitutional challenge of Bill C-69
Canadian energy projects more difficult to get to completion: analysts
Canadian law agencies reluctance to provide enforcement for approved projects is among competitive disadvantages.
Kenney says feds sank Teck mine with deadline change
Ottawa says “not true”, it is not true” Teck was told that the cabinet was going to defer.
Teck withdraws Frontier mine application, cites climate change discourse
Wants jurisdictions to have a framework in place that reconciles resource development and climate change.