Imperial Oil Limited did not move any of its own volumes via crude-by-rail during the second quarter but could slowly increase volumes if conditions warrant as 2020 continues to unfold, CEO Brad Corson told the company’s second quarter conference call Friday.
August 4, 2020, 7:44 AM MDT
Imperial Oil Limited’s top executive says several steps taken by the company to protect its Kearl Lake workforce in response to a COVID-19 outbreak in early May have been effective and the facility has been deemed free of the virus.
August 4, 2020, 12 AM MDT
While economic activity has improved substantially from the historic lows experienced early in the second quarter, the ongoing effects of the COVID-19 pandemic have resulted in unprecedented impacts across society and industry, and Imperial Oil Limited responded accordingly, says CEO Brad Corson.
July 31, 2020, 11:44 AM MDT
The effect of COVID-19 and the current business environment on supply and demand patterns negatively impacted Imperial Oil Limited’s second quarter financial and operating results.
July 31, 2020, 10:43 AM MDT
Although he was “certainly disappointed” when Frankfurt-based Deutsche Bank announced Tuesday it won’t back new oilsands projects, Husky Energy Inc. CEO Rob Peabody said the move won’t affect the company.
July 30, 2020, 11:47 AM MDT
Husky Energy Inc. reported a second quarter net loss of $304 million compared to net earnings of $370 million during the same period in 2019 as earnings were impacted by the COVID-19-related economic downturn.
July 30, 2020, 10:53 AM MDT
Ovintiv Inc. says recent operating results have helped confirm key financial and operating assumptions behind the future "scenarios" the company outlined in May 2020 in response to the COVID-9 pandemic.
July 29, 2020, 11:22 AM MDT
Ovintiv Inc. recorded a second quarter net loss of $4.4 billion versus a profit of $336 million a year earlier as non-cash charges resulting from dramatically weak prices hammered the company’s bottom line.
July 29, 2020, 10:44 AM MDT
While the outlook for crude oil pricing has improved in recent weeks, commodity price forecasting remains subject to “heightened levels of uncertainty” because mitigation and reopening efforts related to COVID-19 continue to evolve,” the U.S. Energy Information Administration (EIA) says in its July Short-term Energy Outlook (STEO).
July 28, 2020, 6 AM MDT
Suncor Energy Inc. is guardedly confident that most of the various pipeline projects that are in the queue will eventually cross the finish line and allow for improved egress solutions for western Canadian producers.
July 24, 2020, 7:40 AM MDT
The back half of 2020 will “continue to be volatile” on many fronts as the evolving situation with COVID-19 continues to have widespread implications for Suncor Energy Inc.’s business environment, operations and financial condition, says the company’s top executive.
July 23, 2020, 11:43 AM MDT
Suncor Energy Inc. “experienced unprecedented volatility” in the second quarter as the COVID-19 pandemic and OPEC+ supply issues impacted the industry and resulted in the company posting a net loss of $614 million compared to earnings of $2.73 billion in the prior year quarter.
July 23, 2020, 10:08 AM MDT
After a first quarter that saw it ship a company record 36,000 crude-by-rail carloads, Canadian Pacific Railway Limited saw a dramatic drop in volumes during Q2 as the impact of the COVID-19 pandemic throttled back oil demand and producers shut-in volumes and reduced activity.
July 22, 2020, 10:28 AM MDT
Statistics Canada has the governance structure established for the new Canadian Centre for Energy Information (CCEI) and is expected to roll out the initial incarnation of the website by late summer or early fall.
July 13, 2020, 6:02 AM MDT
Oil and gas sector industry associations continue to put forward recommendations to the federal government designed to further alleviate the damaging impact COVID-19 has had on financials and balance sheets.
June 30, 2020, 6:46 AM MDT
The various COVID-19-related federal government aid programs that can be accessed by the Canadian oil and gas sector continue to garner mixed reviews as some have been well received while others criticized for their slow rollout and prohibitive guidelines.
June 29, 2020, 7:16 AM MDT
The number of distressed Canadian exploration and production companies entering into a strategic alternatives process is likely to continue to rise as the COVID-19 pandemic’s devastating impact on market conditions continues to reverberate and survival mode takes hold.
June 18, 2020, 8:50 AM MDT
While global energy demand destruction caused by the COVID-19 pandemic has been well documented, consumption growth was already starting to inch down in 2019, BP Plc says in its annual Statistical Review of World Energy released this morning.
June 17, 2020, 9:11 AM MDT
Global natural gas demand increased slightly in 2019 but was well below the high consumption growth witnessed in 2018, BP Plc says in its annual Statistical Review of World Energy.
June 17, 2020, 10:19 AM MDT
Although Birchcliff Energy Ltd. slashed its 2020 capital budget by 19 per cent in March, the natural gas-weighted producer has no plans to enact further cuts as it looks to set itself up to take advantage of better industry conditions it believes will transpire later this year and into 2021.
May 27, 2020, 12 AM MDT
While capital expenditure cuts by Canadian natural gas-weighted entities have been less severe than crude-weighted producers, seven out of eight companies whose production is 70 per cent or more gas have pulled back spending since the COVID-19 crisis took hold, according to data compiled by Evaluate Energy.
May 26, 2020, 7:06 AM MDT
While the challenges facing Canada’s energy sector are vast and currently unrelenting as industry continues to navigate through the fallout from the COVID-19 crisis, western Canadian natural gas-weighted companies are faring better — in relative terms — than their crude producing brethren.
May 25, 2020, 6:11 AM MDT
Peyto Exploration & Development Corp. says preparation for and reaction to the sweeping global pandemic dominated the first quarter of 2020 and forced the company to reduce spending and alter its drilling plans.
May 13, 2020, 11:16 AM MDT
Peyto Exploration & Development Corp. incurred a rare first quarter net loss and reduced output as the double impact of COVID-19 related demand destruction and an exceedingly weak commodity price environment battered the bottom line and negatively affected operations.
May 13, 2020, 11:34 AM MDT
Ovintiv Inc. continues to manage operations through capital expenditure reduction, cost efficiencies, shutting-in production and protecting its balance sheet and is well positioned to hit the ground running once the COVID-19 induced market chaos begins to subside, says CEO Doug Suttles.
May 8, 2020, 11:26 AM MDT