Executives are confident the oil price crisis is subsiding but are dismayed by recent setbacks for oil pipelines in the US.
Upholds a lower court ruling that blocked a key environmental permit for the project.
Canadian Natural Resources, Cenovus Energy, Suncor Energy and Imperial Oil are out.
Resource company targeting $1 billion in cost reductions for 2020 – double what it proposed in October.
Also cutting $700 million in capital budget, second reduction following an earlier cut of $900 million and $100 million in other spending.
Said the US Army Corps of Engineers failed to adequately consider effects on endangered species such as pallid sturgeon.
Doesn’t match the reduction in demand caused by measures taken to deal with the COVID-19 pandemic.
Project has been tied up for years in legal battles and several court challenges are still pending.
Possible virus case shows Civeo’s safety protocols at Suncor Energy base camp work.
Will also cut CEO and other executive salaries and board members have agreed to cut their fees.
Clearing a path through US states along the pipeline’s 1,930-kilometre route to begin soon.
The federal government is to blame for a significant drop in investment across 10 of the 15 major sectors of the Canadian economy.
Energy company is preparing for when the current base mine is depleted in about 2035.
Output could grow by as much as 1.3 million bpd but more capacity for transport needed.
Prosper Petroleum waiting 19 months for a decision on Rigel project, province given 10 days.