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.
Suncor Energy will cut 10% to 15% of its workforce over next 18 months
Cuts are to be made across the entire organization; will also affect Suncor’s contracted workers.
PetroChina, Ovintiv end joint venture, agree to split Alberta assets
Each to wind up with 13,000 barrels of oil equivalent per day and the same oil and gas reserves.
Oil sands pipeline partly closed following spill near Fort McMurray
Initial reports indicated about 550 barrels or 90,000 litres of light oil were released with no reported impacts.
Only private investment will save Canada’s economy
Generating, rather than consuming government revenues will require a profound reversal by the Trudeau government.
Suncor shares slip after fire interrupts Fort McMurray oil sands output
Two upgraders at the project are working at minimum rates to process strip-mined bitumen inventory.
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.
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.
US Supreme Court deals blow to Keystone oil pipeline project
Upholds a lower court ruling that blocked a key environmental permit for the project.
Norway’s wealth fund excludes oil sands investments over GHG emissions
Canadian Natural Resources, Cenovus Energy, Suncor Energy and Imperial Oil are out.
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.
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.
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.
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.