U.S. crude oil imports from Canada more than doubled to an average of 3.6 million bbls/d between 2005 and 2020 and as a result Canada’s share of total U.S. crude oil imports also increased, reaching a record-high share of 61 per cent in 2020, the U.S. Energy Information Administration (EIA) said in an April 28 release.
April 29, 2021, 11:19 AM MDT
A new report commissioned by the American Petroleum Institute (API) and released today reinforces the “valuable trading relationship” in petroleum liquids between Canada and the United States, says a top API official.
April 6, 2021, 11:03 AM MDT
Since its inception less than two years ago, Headwater Exploration Inc. hasn’t wasted any time in becoming one of the dominant players in the Clearwater heavy oil play and, more specifically, the Marten Hills region.
March 24, 2021, 12 AM MDT
Although industry began kicking the tires of the Clearwater heavy oil play in the mid-80s, low permeability combined with high oil viscosity led to less than desirable results and exploration for the better part of three decades was minimal.
March 23, 2021, 7:52 AM MDT
In 2020, Andora Energy Corporation actively reviewed a range of alternatives to move the Sawn Lake project forward with minimum development costs to Andora, including partnership or outright sale to achieve value for Andora and Pan Orient Energy Corp. shareholders.
March 18, 2021, 8:29 AM MDT
While oil prices have surged, MEG Energy Corp.’s president and CEO says the company will wait until this recovery has “staying power” before deploying more capital.
March 4, 2021, 8:04 AM MST
The Alberta government is forecasting higher bitumen and crude oil royalties for the 2021/22 fiscal year, following a plunge the previous year as a result of COVID-19 and low oil prices.
February 25, 2021, 3:35 PM MST
Baytex Energy Corp. says it intends to implement a heavy oil drilling program in the second half of the year in which it could drill up to 30 net wells at Lloydminster and six net wells at Peace River.
February 25, 2021, 10:57 AM MST
While 2020 was a year in which many oil-weighted juniors focused on survival, 2021 is shaping up to be a “year of opportunity,” where Gear Energy Ltd. says it should again have the option of balancing excess free funds flow towards multiple strategic directions, including continued debt reduction, accelerated capital investment and associated growth or other returns to shareholders.
February 18, 2021, 2:33 PM MST
Throughput on Enbridge Inc.’s Canadian Mainline averaged 2.65 million bbls/d in the fourth quarter of 2020, down from 2.73 million bbls/d in the 2019 quarter as volumes began to recover from the effects of the COVID-19 pandemic.
February 12, 2021, 11:21 AM MST
Cenovus Energy Inc.’s merger with Husky Energy Inc. is diminishing the blow from U.S. President Joe Biden’s move last week to revoke of the permit needed to build the Keystone XL pipeline, which would have carried some 830,000 bbls/d of Alberta oilsands crude to Nebraska.
January 29, 2021, 12 AM MST
Canadian National Railway Company reported an increase in volume demand during the fourth quarter, although it was an uneven recovery across the markets it serves, with crude-by-rail still lagging behind other commodities.
January 27, 2021, 7:15 AM MST
Combusting bitumen products in internal combustion car and truck engines, its major use right now, may amount to sending a much more valuable commodity up in smoke.
January 13, 2021, 6 AM MST
Increased crude oil export capacity out of Western Canada could provide an opportunity for crude differentials to narrow by about US$3/bbl to $4/bbl on average over the next decade, according to an IHS Markit Canadian Oil Sands Dialogue report.
December 23, 2020, 7:57 AM MST
Canadian Natural Resources Limited should be able to maintain the cost savings it has achieved during the downturn in 2020, although factors such as natural gas prices could have an impact on that, says the company's president.
December 10, 2020, 6:43 AM MST
Canadian heavy crude could be exported from the United States Gulf of Mexico as exports begin to bounce back to meet growing global crude oil demand, the president of Liquids Pipelines for Enbridge Inc. said Tuesday.
December 9, 2020, 4:44 AM MST
Enbridge Inc. believes that it’s on track to hold an open season by the end of next year for Mainline transportation capacity should the Canada Energy Regulator (CER) approve its application to convert the Mainline to firm service from common carriage, analysts heard Tuesday.
December 9, 2020, 4:58 AM MST
Athabasca Oil Corporation is planning expenditures of $75 million for 2021 focused on sustaining projects at Leismer along with routine maintenance activities at all properties.
December 3, 2020, 3:59 AM MST
Heavy crude oil production in Western Canada is currently in something of a state of limbo.
November 26, 2020, 12 AM MST
U.S. Gulf Coast refineries have made significant investments in technology that processes heavy crude in recent decades, and with the availability of heavy crude oil from other sources like Venezuela and Mexico declining those refineries will require larger volumes from Canada.
November 17, 2020, 6 AM MST
Whether you like it or not, heavy oil supplies in Western Canada have become the bread and butter of the Canadian oil industry.
November 16, 2020, 6 AM MST
Given the recent surge in North American merger and acquisition (M&A) activity including the blockbuster merger between Cenovus Energy Inc. and Husky Energy Inc., Canadian Natural Resource Limited’s top official believes it’s a trend that’s set to continue.
November 5, 2020, 11:47 AM MST
Despite the effects of COVID-19-related market disruption and mandatory production curtailments Canadian Natural Resources Limited achieved quarterly production volumes of 1.111 million boe/d in Q3, up from 1.176 boe/d a year earlier.
November 5, 2020, 10:46 AM MST
Gibson Energy Inc. doesn’t expect any fallout from the Cenovus Energy Inc.-Husky Energy Inc. merger on its business prospects at its main terminal at Hardisty.
November 3, 2020, 10:24 AM MST
International Petroleum Corporation achieved better than expected third quarter 2020 production with a faster than forecast ramp-up and good reservoir performance at its major Canadian oil assets at Suffield and Onion Lake thermal
November 3, 2020, 3:21 PM MST