Source: Adam Macvicar, globalnews.ca, April 2, 2020 Due to record low prices, oil companies in Western Canada have had to cut capital expenditures and temporarily lay off employees in northern Alberta. Oil and gas producers in Alberta may very well be facing their toughest challenge to date, as the price of Western Canadian Select closed… Continue reading Western Canadian Select plunges to $5 per barrel, leaving Alberta oilsands struggling
Tag: oilsands
Why engineers in Alberta think they’ve found a way for the oilsands to produce clean fuel
Source: Tony Seskus, CBC News, September 29, 2019 Team is trying to prove its method for extracting hydrogen works for business and the environment As the world reaches for cleaner energy, hydrogen has long been viewed with a lot of hope. Often called the fuel of the future, the gas can be used to generate electricity… Continue reading Why engineers in Alberta think they’ve found a way for the oilsands to produce clean fuel
Oilsands CEOs take federal election message to voters in full-page newspaper ads
Source: Dan Healing, The Canadian Press, August 1, 2019 CALGARY — Three of Canada’s biggest oilsands producers are going directly to voters today to ask them to “influence the outcome” of big decisions concerning the oil and gas sector as a fall federal election looms. In full-page ads in about 30 English and French daily… Continue reading Oilsands CEOs take federal election message to voters in full-page newspaper ads
Alberta oilsands mine in public interest despite ‘significant adverse’ effects: panel
Source: Lauren Krugel, The Canadian Press, July 25, 2019 A federal-provincial panel says a proposed northeastern Alberta oilsands mine would be in the public interest, even though it would likely significantly harm the environment and Indigenous people. Vancouver-based Teck Resources Ltd. aims to build the $20.6-billion Frontier mine near Wood Buffalo National Park in two… Continue reading Alberta oilsands mine in public interest despite ‘significant adverse’ effects: panel
Oilsands producer MEG Energy posts $199M loss, vows to ship more oil by rail
Source: The Canadian Press, March 7, 2019 CALGARY — Oilsands producer MEG Energy says it has doubled its crude-by-rail shipments and will double them again to maximize prices in view of insufficient pipeline export capacity from Western Canada. The Calgary-based company says steep discounts for the bitumen it produces at its northern Alberta steam-driven project… Continue reading Oilsands producer MEG Energy posts $199M loss, vows to ship more oil by rail
Oilsands producer CNRL raises dividend, reports fourth quarter loss
Source: The Canadian Press, March 7, 2019 Canadian Natural Resources Ltd. lost $776 million in the fourth quarter compared with a profit of $396 million a year earlier as it was hit by low prices for Canadian oil. However, the company raised its quarterly dividend to 37.5 per share compared with its earlier payment to shareholders… Continue reading Oilsands producer CNRL raises dividend, reports fourth quarter loss
Teck Resources takes $20.6B Frontier oil sands mine project to joint hearing
Source: Dan Healing, The Canadian Press, September 25, 2018 FORT MCMURRAY, Alta. — In a sign that the oilsands mining industry can’t be counted out just yet, public hearings into the proposed $20.6-billion Frontier Oil Sands Mine project begin in Fort McMurray, Alta., today. International oil companies are cutting their oilsands mine investments and many… Continue reading Teck Resources takes $20.6B Frontier oil sands mine project to joint hearing
Oilsands executives see reason for optimism with approval of Line 3 pipeline project
Source: Dan Healing, The Canadian Press, July 10, 2018 Executives from the biggest oilsands companies in Canada say concerns about getting their products to market are easing in the wake of regulatory approval of Enbridge Inc.’s $9-billion Line 3 pipeline replacement project. The project to add about 375,000 barrels per day of export capacity into the… Continue reading Oilsands executives see reason for optimism with approval of Line 3 pipeline project
Suncor CEO is ‘encouraged’ new pipelines will be built after Trudeau’s visit
Source: Dan Healing, The Canadian Press, May 2, 2018 “The simple measure will be we want to see shovels in ground and pipelines being built.” The CEO of oilsands giant Suncor Energy Inc. says he’s confident new oil pipelines will be built after hosting Prime Minister Justin Trudeau at its newly opened Fort Hills oilsands mine… Continue reading Suncor CEO is ‘encouraged’ new pipelines will be built after Trudeau’s visit
Bitumen upgrade still years away for Alberta oilsands
Source: Dan Healing, The Canadian Press, February 18, 2018 CALGARY — Two years after a blue-ribbon panel called on the Alberta government to encourage partial upgrading of bitumen from the oilsands to enhance value and free up more pipeline room for exports, the idea remains years away from commercialization. In its royalty review report in January… Continue reading Bitumen upgrade still years away for Alberta oilsands