The new Fort Hills oilsands mine will be hit hardest of Alberta projects and operators as mandated production cuts take effect in Q1/2019, according to new estimates from Peters & Co. Limited.
December 10, 2018, 10:57 AM MST
The National Energy Board (NEB) said it is taking steps to address a request from federal Natural Resources Minister Amarjeet Sohi who is seeking board advice on how to optimize oil transportation capacity on existing pipelines and rail.
December 10, 2018, 10:23 AM MST
December 5, 2018, 11:47 AM MST
After languishing in the teens for the past few weeks, the implied price of Western Canada Select (WCS) for January delivery has surged over the past three trading sessions, closing at $28 on Dec. 3, 2018.
December 4, 2018, 7:15 AM MST
While Alberta’s decision to impose oil production quotas will be positive for the vast majority of domestic producers, oilfield service companies are going to take a hit, analysts with GMP FirstEnergy said on Monday.
December 4, 2018, 4 AM MST
While Alberta Premier Rachel Notley’s decision to curtail crude output should help narrow differentials in the relative short term, it has also struck a divisive chord within the province’s exploration and production sector.
December 3, 2018, 10:56 AM MST
The Alberta government is mandating a short-term reduction in oil production.
December 3, 2018, 3:20 AM MST
December 3, 2018, 9:24 AM MST
November 30, 2018, 3:55 AM MST
A new international rule limiting the sulphur content of marine fuels could make the upgrading and refining of bitumen in Alberta more attractive, says the chief executive of the Canadian Energy Research Institute (CERI).
November 29, 2018, 3:47 AM MST
For the remainder of 2018, Pengrowth Energy Corporation’s market access strategy includes two apportionment protected fixed differential contracts for dilbit with refiners.
November 29, 2018, 5:28 AM MST
Given the dire situation for producers brought on by the differential crisis, United Conservative Party (UCP) leader Jason Kenney this afternoon called on the Alberta government to “act immediately” to introduce mandatory curtailment of 10 per cent of Alberta’s oil production.
November 28, 2018, 1:49 PM MST
The massive price discount on Canadian crude is not just a “Calgary problem” but also a challenge for the entire country, federal Finance Minister Bill Morneau said Tuesday afternoon, although as with the prime minister last week, he offered no short- or medium-term fix.
November 28, 2018, 3:15 AM MST
The current oil price differentials are impacting the Canadian oil and natural gas industry in unprecedented ways. The price of Western Canadian Select (“WCS”) hit a recent low in the second half of 2018, dipping below US$14 per bbl.
November 28, 2018, 7:21 AM MST
Explorers and Producers Association of Canada (EPAC) members currently estimate more than 150,000 bbls of oil production in Alberta has been shut-in due to the uneconomic price environment, with a significant amount of additional oil production to be shut-in if the current price differential environment persists for an extended period of time.
November 27, 2018, 8:24 AM MST
November 27, 2018, 3:22 AM MST
Prime Minister Justin Trudeau offered no short-term fix for the Western Canadian Select (WCS) differential blowout as he headed into a meeting with oil industry officials on Thursday in Calgary.
November 23, 2018, 3:27 AM MST
If the federal government isn’t prepared to help the Alberta government buy rail cars to help get oil to market, the province is prepared to go it on its own, Alberta Premier Rachel Notley said Thursday.
November 23, 2018, 3:33 AM MST
As the differential remains historically wide, and pipeline capacity tight, Canadian crude-by-rail exports continue surging.
November 22, 2018, 12 AM MST
Oil price trouble has overtaken a technology billed as a cure for the Canadian petroleum headaches of high costs, GHGs, pipeline setbacks and conflict with Indigenous communities.
November 20, 2018, 6 AM MST
The implied value of Western Canadian Select (WCS) closed below $14 on Thursday.
November 16, 2018, 3:29 AM MST
November 16, 2018, 3:37 AM MST
November 15, 2018, 9:29 AM MST
Pan Orient Energy Corp. continues to work with joint venture partners to move forward towards potential commercial expansion to 3.200 bbls/d at the Sawn Lake, Alberta steam assisted gravity drainage (SAGD) project (in which Andora Energy Corporation has a 50 per cent working interest and is the operator).
November 15, 2018, 10:27 AM MST
While the historically-wide differentials witnessed recently between Western Canada Select (WCS) and West Texas Intermediate (WTI) have begun to narrow in recent days, tanking benchmark crude prices are putting further hurt on Canadian producers.
November 14, 2018, 6:37 AM MST