Oil & Gas
Imperial Oil reports dead birds on Alberta tailings ponds
Birds landed despite active deterrent systems including radar, noise cannons, eye-safe lasers and scarecrows.
Oil producers sustaining billions of dollars in asset impairments
Husky CEO says supply and demand will collide “in a very messy way” this quarter.
No short term end to oil price slump hitting Alberta: premier
Kenney says reduced demand for oil and gas during the pandemic, coupled with a destructive price war between Saudi Arabia and Russia, has left the world awash in oil
Trans Mountain, LNG Canada on track despite pandemic
Energy economist says the long-term forecast for both natural gas and oil remains steady.
China buys crude as prices collapse, adding to stockpiles
Gives Beijing a chance to insulate the country against possible supply disruptions.
Alberta’s failed oil and gas bailout a warning to feds: report
Says $1.1 billion invested in small and midsize oil and gas companies – one went bankrupt, more likely to follow as share prices tank.
Energy sector shutting down oil production as low crude oil prices persist
More producers join a growing list of companies reducing spending and cutting production.
Plunging oil prices point to ‘deep collapse’ in sector: drilling firm CEO
Kevin Neveu of Precision Drilling says spending on oil and gas exploration will fall even further from already-depressed levels because of pricing signals.
Husky cuts production by 80,000 bpd, Canadian total 365,000 bpd
Also cutting $700 million in capital budget, second reduction following an earlier cut of $900 million and $100 million in other spending.
Negative oil price plunge a short term anomaly, limited impact: analysts
Drop in West Texas Intermediate near-month contract prices below negative US$37 per barrel is due to unique circumstances.
Oilpatch bailout focuses on abandoned wells cleanup, reduced emissions
Government plans to spend $1.7 billion in Alberta, Saskatchewan and British Columbia.
Tribes press judge to halt US Canada pipeline as work starts
Plans for construction camps housing up to 1,000 workers each cited as a risk to tribes struggling with basic health care services amid potential COVID-19 outbreaks.
Freeze carbon tax, delay new climate regs during virus crisis: CAPP
Cites need to maintain safe and essential operations as industry follows health guidelines, environment critics see an attempt to curb environmental regulations.
US judge cancels permit for Keystone XL pipeline from Canada
Said the US Army Corps of Engineers failed to adequately consider effects on endangered species such as pallid sturgeon.
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.