Suncor to record impairment charge on White Rose assets
Suncor advised that it will record in the fourth…
Canadian Natural to boost oil, gas output 5% on higher $3.2B budget
Increased drilling program a result of no curtailment and a current improved outlook for commodity prices in 2021.
Baytex Energy sets lower capital budget for 2021
Spending of between $225 million and $275 million next year.
Application to pause Alberta inquiry into fossil fuel foes funding
Kenney government contend foreign interests have been bankrolling campaigns against fossil fuel development.
Fossil fuels declining, but still big in Canada’s energy use by 2050: report
Even with many more policies to curb emissions, oil and gas would still make up nearly two-thirds of energy sources.
Why oil and gas are fundamental to Canada
$493 billion in energy revenues paid to governments since 2000 is more than family allowance and children’s benefits since 1970.
Natural Law Energy inks deal with TC Energy to invest in Keystone XL
Indigenous group represents four First Nations in Alberta and one in Saskatchewan.
Inquiry into Alberta oil and gas critics extended to Jan. 31
Looking at foreign interests bankrolling campaigns against fossil fuel development.
Cenovus to buy Husky Energy for $3.8B in shares, Pourbaix is CEO
He says combined company will be better able to weather energy market volatility, generate more cash flow, reduce debt and cut costs.
Biden calls for ‘transition’ from oil, GOP sees opening
Campaign’s climate plan calls for the US to have net-zero greenhouse gas emissions by 2050.
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.
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.
Offshore workers call on government to stabilize industry
Unifor is calling on the federal and provincial government to make strategic investments in the industry.
Only private investment will save Canada’s economy
Generating, rather than consuming government revenues will require a profound reversal by the Trudeau government.
Obsidian hostile takeover bid for Bonterra shows ‘frustration’
Slow pace of consolidation needed to create larger entities that would be more liquid and resilient and therefore more attractive to investors.
Canadians join lawsuit to overturn Alaska wilderness to energy drilling
The lawsuit alleges the activity will damage the calving grounds of the Porcupine caribou herd
Suncor’s Fort McMurray base plant stalled until September due to fire
Blaze in the extraction area was contained quickly, and no one was hurt.
Kelt to sell BC Montney assets to ConocoPhillips for $510M
Eliminates debt with sale of producing and development assets in the region.
Ottawa reports $29M profit since buying Trans Mountain pipeline
Includes a $61 million tax recovery thanks mainly to a decrease in Alberta’s corporate tax rate.
Oil sands companies restoring production as demand spurs higher price
Executives are confident the oil price crisis is subsiding but are dismayed by recent setbacks for oil pipelines in the US.
Feds relaxing new fuel standards short term, tougher by 2030
Producers will have to do more to green up their gasoline and diesel fuels starting in 2026.
Ovintiv lays off 25% of staff as fears rise for delayed oil industry recovery
Former Encana has reduced activity to address fossil fuel demand destruction and the oil price collapse caused by the pandemic.
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.
Scientists criticize Alberta’s monitoring suspension, lack of consultation
Most of it could have been done safely, says Jay White, president of the Alberta Society of Professional Biologists.
Alberta ends agency created to handle green rebates and programs
Will be folded into other departments or the current Emissions Reduction Alberta.
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.
Labour dispute at Regina Co-op refinery nears 6 months
FCL says about 200 replacement workers and 350 managers are keeping the plant running.
Oilpatch advocates tell MPs help needs to be faster, easier to get
OTTAWA — Representatives from Canada’s oilpatch said May 28…
Alberta introduces bill to put deadlines on energy project approvals
Review found some decisions on whether to allow an oil and gas project to proceed took too long.
Oilpatch bailout focuses on abandoned wells cleanup, reduced emissions
Government plans to spend $1.7 billion in Alberta, Saskatchewan and British Columbia.