Maire Tecnimont Group’s NextChem to develop BioJet Plant
Maire Tecnimont S.p.A. announced that its subsidiary, NextChem, received a contract…
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.
Future value of Trans Mountain rests on Liberals’ climate plans: PBO
Paying for the pipeline’s expansion is estimated to cost $12.6 billion.
Layoffs at Husky worksite after company gets $41.5M in public cash
Will leave just 10 skilled tradespeople at a site that once employed 2,700.
US adds Chinese chipmaker, oil giant to security blacklist
That raises the total number of companies 35 on the list of entities linked to modernizes China’s military.
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.
Imperial Oil to lay off 200 workers following cost cutting analysis
Also reduced the number of contractors it employs by about 450 since the start of the year.
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.
Drilling forecast calls for 14% rebound in 2021 from depths of 2020
The Canadian Association of Oilwell Drilling Contractors expects 3,771 wells to be drilled next year.
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.
Tourmaline Oil buys two privately held oil and gas firms for $526M
Expects its production at the end of 2020 to be about 400,000 boe/d with the successful completion of the two acquisitions.
Inquiry into Alberta oil and gas critics extended to Jan. 31
Looking at foreign interests bankrolling campaigns against fossil fuel development.
Suncor relocating its PetroCanada HQ to Calgary from Ontario
Shift to remain competitive by integrating the downstream business with the rest of the company.
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.
Offshore workers call on government to stabilize industry
Unifor is calling on the federal and provincial government to make strategic investments in the industry.
NL can’t afford buy-in for Husky led oil offshore project: Premier
Company is re-evaluating its operations in the province, White Rose is more than half finished while several other offshore projects are delayed.
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.
Mauritius seeks compensation as oil spill cleanup continues
MV Wakashio has spilled 1,000 tons of its cargo of 4,000 tons of oil into the sea, fouling the coastline of Mauritius.
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.
Michigan judge allows restart of disputed Enbridge oil pipeline
Safety test to be conducted, energy company can keep it running subject to the results and further order of the court.