Alberta Energy has finalized the curtailment consolidation and transfer of allocations process where operators can consolidate or transfer their curtailment allocations in order to meet their curtailment requirements.
December 21, 2018, 3:49 AM MST
Canadian crude oil exports by rail are continuing to set records.
December 21, 2018, 9:54 AM MST
December 19, 2018, 8:58 AM MST
Gear Energy Ltd. is currently forecasting to exit 2018 with inventories of approximately 40,000 bbls of heavy oil and 10,000 bbls of light oil that are anticipated to be sold in early 2019 at materially higher prices.
December 17, 2018, 6 AM MST
It was looking as if OPEC and Russia would deliver a lump of coal for Christmas, especially with President Donald Trump being an industry scrooge, wanting oil prices to go even lower. Yet the cartel delivered an early Christmas gift by announcing a production cut that appears large enough to stabilize international oil prices.
December 13, 2018, 6 AM MST
Alberta Premier Rachel Notley says mandatory production curtailments which come into effect Jan. 1 have helped shrink differentials for heavy oil but can’t be deemed a true success until the glut is reduced and the market cleared.
December 12, 2018, 10:31 AM MST
Alberta Premier Rachel Notley had strong words for her Quebec counterpart Francois Legault, who last week voiced his opposition to any idea of renewed Energy East talks as the long-proposed pipeline would carry “dirty energy” from Alberta through his province, particularly when Quebec could offer “clean” hydroelectric energy at a competitive price.
December 12, 2018, 10:33 AM MST
Enbridge Inc. is working “very aggressively on a couple of options to potentially increase throughput out of Western Canada in 2019, the president of liquids pipelines said Tuesday.
December 12, 2018, 4:07 AM MST
Alberta’s Department of Energy has heard from operators who have curtailment levels significantly higher than anticipated relative to their recent production, as opposed to the established baseline calculations.
December 12, 2018, 1:28 PM MST
December 12, 2018, 9:03 AM MST
According to Net Energy, Western Canada Select (WCS) heavy blend crude for January delivery last traded Monday at US$12.30 below WTI, or an implied value of US$38.70.
December 11, 2018, 10:46 AM MST
While the Alberta government’s decision to impose mandatory production curtailments has had a recent positive impact on Western Canadian Select (WCS) differentials and implied pricing, the uptick isn’t expected to be long-lasting, analysts contacted this morning by the Bulletin say.
December 10, 2018, 10:20 AM MST
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