Source: Janani Whitfield, CBC News, December 5, 2018 Minister says new drilling will not undermine Alberta’s move to cut heavy oil production Saskatchewan is offering a new, “more aggressive program” to encourage more drilling in the face of what some in the industry are describing as a critical, high stakes time for the oil and gas… Continue reading Sask. announces ‘aggressive’ new program to encourage more drilling
Tag: oil prices
Low oil prices to have negative effect on Canadian economy — but not as bad as 2015: BOC
Source: The Canadian Press, December 6, 2018 The head of the Bank of Canada says the negative impacts of low oil prices that have struck Western Canada will reverberate across the entire national economy. But governor Stephen Poloz says the sting of weaker crude prices will likely have a smaller impact across Canada than the 2015 oil-price… Continue reading Low oil prices to have negative effect on Canadian economy — but not as bad as 2015: BOC
As Alberta cuts oil production, Notley has list of demands for Trudeau
Source: Josh Dehaas, Janet Dirks, CTV News, December 3, 2018 Alberta Premier Rachel Notley says that cutting provincial oil production will help to temporarily address the province’s economic crisis, but she also needs Prime Minister Justin Trudeau’s government to “step up.” Notley made the comments Monday after announcing the province will cut output of oil… Continue reading As Alberta cuts oil production, Notley has list of demands for Trudeau
Oilpatch braces for wave of layoffs as companies prepare for spending cuts
Source: Tony Seskus, CBC News, November 29, 2018 ‘We’re trying to not panic,’ oilfield services executive says Canada’s oilfield services sector — a bellwether for the state of the oilpatch — is beginning to see job losses as the impact of steep discounts on Alberta oil ripple through the sector. Trican Well Service, according to the Financial Post, laid off 70 of its… Continue reading Oilpatch braces for wave of layoffs as companies prepare for spending cuts
Alberta in ‘crisis’ over low oil price: Prime Minister Justin Trudeau
Source: Lauren Krugel, The Canadian Press, November 22, 2018 CALGARY — Prime Minister Justin Trudeau says Alberta is in a crisis as the province’s oil is being sold at a discount of about $45 a barrel, but he and some oil company bosses agree there are no easy fixes Ottawa can offer. “There is no… Continue reading Alberta in ‘crisis’ over low oil price: Prime Minister Justin Trudeau
Prairie people continue push for pipelines amid low crude oil prices
Source: Kendall Latimer, CBC News, November 21, 2018 Western Canadian Select trading for about $13 US per barrel by end of day Tuesday. Saskatchewan people continue to push for pipelines as low oil prices persist. Western Canadian Select, a heavy crude oil from the prairies, was trading for about $13 US per barrel on Tuesday. The price caught the… Continue reading Prairie people continue push for pipelines amid low crude oil prices
Experts to work with energy industry on oil price solutions for Alberta
Source: Chris Purdy, The Canadian Press, November 19, 2018 EDMONTON — Alberta Premier Rachel Notley has appointed three experts to work with the energy industry to find ways to close an oil price gap that she says is costing the Canadian economy $80 million a day. Notley says Canada is losing out because oil from… Continue reading Experts to work with energy industry on oil price solutions for Alberta
Higher oil prices and production gains drive operating earnings beat at Suncor
Source: The Canadian Press, November 1, 2018 CALGARY – Suncor Energy Inc. is reporting third-quarter operating income of $1.56 billion, an 80 per cent increase over $867 million in the same period of 2017. The earnings amount to 96 cents per share, in line with analyst expectations of 95 cents according to Thomson Reuters Eikon,… Continue reading Higher oil prices and production gains drive operating earnings beat at Suncor
Oil prices and energy companies jump as U.S. stocks advance
Source: Marley Jay, The Associated Press, June 22, 2018 NEW YORK — U.S. stocks are rising Friday morning as energy companies climb along with the price of oil. Oil producers in OPEC are discussing an increase in production, a step investors have expected for the last few weeks. Industrial and basic materials companies are rising as… Continue reading Oil prices and energy companies jump as U.S. stocks advance
Better prices and new pipelines expected to drive higher Canadian crude output
Source: Dan Healing, The Canadian Press, June 19, 2018 CALGARY — A pipeline capacity gap that is impeding the movement of Western Canada’s crude to market will close by 2021 and there will be surplus room from about 2022 until 2030, according to the Canadian Energy Research Institute. The Enbridge Line 3 and Trans Mountain… Continue reading Better prices and new pipelines expected to drive higher Canadian crude output