Total writes off $9.3B in oilsands assets, cancels Canadian oil lobby membership
Total said it is leaving CAPP because of a “misalignment” between its public positions and those expressed in Total’s climate ambition statement
Federal aid for oil sector still in development, three months later
Business Development Bank of Canada and EDC are getting the terms of the loan programs together.
Oil and gas spending estimates adjusted lower as uncertainties persist
$23.3 billion to be invested in Canada this year, down from about $37 billion in a January forecast.
Teck exits energy industry group CAPP, citing cost cutting
Resource company targeting $1 billion in cost reductions for 2020 – double what it proposed in October.
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.
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.
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.
Atlantic offshore energy operators raising their EH&S game
CAPP report outlines 13 near and long-term initiatives to improve environment, health and safety performance.
Oil producers prepared for temporary price slump as virus spreads
CAPP says short term jitters but no long-term impact expected on investment decisions.
Oil and gas industry needs to do more on climate change: IEA
Report says the industry requires a variety of approaches depending on an individual company’s circumstances.
Review of federal fossil fuel subsidies appears to be lagging
2021 completion date would leave less than four years to hit promise of phasing out all “inefficient” subsidies by 2025.
Cenovus produces one billionth barrel from thermal oil sands operations
Comes 18 years after Foster Creek facility was launched as the first commercial oil sands project to use steam-assisted gravity drainage.
Business leaders welcome Trans Mountain expansion approval
…but they fear the pipeline expansion to BC’s coast will not be competed.
Trident bankruptcy may show lenders viewing industry differently: CAPP
Trident is abandoning 4,392 licensed wells, pipelines and other facilities.
Oil and gas sector applauds pro-business Alberta government
But province’s difficulty in moving oil to market will remain a major challenge.
CAPP defends emission policies after Shell accuses it of ‘misalignment’
Industry organization says it’s more concerned with policy implementation and outcomes than specific initiatives.
Shell urges CAPP to adjust emission policies, support carbon pricing
Energy giant has been reviewing relationships with industry associations looking for misalignment.
CAPP predicts Canadian oil production to rise 1.4M bpd by 2035
Increase to 5.6 million bpd in the next 17 years mainly due to a rise in oil sands production to 4.2 million bpd.