Competition to be one of the last major oil producers standing in a net zero world is bound to be extremely intense. And based on economics alone, Canada doesn’t stand a chance. But economics has rarely been the sole driver for oil markets, with politics and political instability in and among major oil producers normally playing even a greater role in price formation, while helping to determine the winners and losers for market share.
October 21, 2021, 6 AM MDT
We are in the midst of an energy system transformation, one requiring major social, cultural, technological, and economic shifts. Addressing climate change while providing reliable, affordable, and responsible sources of energy the world needs is a critical challenge.
October 21, 2021, 6 AM MDT
I believe the answer to Net Zero is in the idea of a circular economy. We can use a lot of the same technologies to reduce emissions from production of the oilsands for the consumption side too. Already there is a circular economy building around emissions. With carbon as a feedstock we wouldn’t treat carbon as a waste disposal problem; it would become a valuable product to make things from. The Three Rs are the path to sustainability: reduce, reuse, return all of our emissions.
October 20, 2021, 6 AM MDT
Canada’s oilsands majors continue to generate huge amounts of free cash flow in 2021.
October 13, 2021, 6 AM MDT
Suncor Energy Inc. today confirmed that it has assumed operatorship of the Syncrude Joint Venture, a critical step towards driving greater efficiencies and competitiveness across all Suncor-operated assets in the Regional Municipality of Wood Buffalo (RMWB).
October 1, 2021, 6:29 AM MDT
September 23, 2021, 6:37 AM MDT
It has been an interesting 16 months or so for companies bearing the name ‘Greenfire,’ considering Greenfire Oil & Gas Ltd. had to shut down in May 2020, shortly after winning an Energy Excellence Award, only to come back as the unaffiliated Greenfire Acquisition Corporation (GAC), with financial backers McIntyre Partners and Griffon Partners acquiring the Greenfire Hangingstone Operating Corporation’s oilsands assets in April 2021.
September 2, 2021, 6:47 AM MDT
Canada’s Oil Sands Innovation Alliance (COSIA) released a suite of research reports summarizing 100 research projects related to the areas of land, water and tailings.
August 18, 2021, 10:40 AM MDT
Canadian supply is estimated to have risen, the IEA reported.
August 12, 2021, 12 AM MDT
During a period which included the execution of a planned turnaround at the company’s oilsands mining and upgrading operations, Canadian Natural Resources Limited delivered strong operational and financial results in the second quarter, achieving production volumes of approximately 1,141,739 boe/d, a decrease of two per cent year-over-year.
August 5, 2021, 10:43 AM MDT
Oil market supply and demand fundamentals are “shaping up to support crude prices” over the next two quarters and into 2022, says a Sproule Associates Ltd. analyst, at least “relative to where prices have been” in the last couple of years.
August 4, 2021, 9:23 AM MDT
Gibson Energy Inc. has completed construction of the diluent recovery unit (DRU) near Hardisty, doing so on-schedule and within expected capital costs, and the company expects to place it into service sometime in Q3 2021.
August 4, 2021, 9:51 AM MDT
Calling the asset a “rock star,” Imperial Oil Limited CEO Brad Corson says the company has achieved major operational improvements at Kearl and that the company is implementing a new strategy this year to extend intervals between turnarounds.
August 3, 2021, 12 AM MDT
Imperial Oil Limited’s upstream production for the second quarter averaged 401,000 gross boe/d, the company’s highest second quarter production in over 25 years.
July 30, 2021, 8:24 AM MDT
July 29, 2021, 12 AM MDT
Teck Resources Limited’s 21.3 per cent share of bitumen production from Fort Hills decreased by four per cent in the second quarter to 17,806 bbls/d compared to the same period in 2020.
July 27, 2021, 12 AM MDT
The STP-McKay SAGD project has seen its production increasing over the last few months, after coming out of ‘hibernation’ late last year.
July 14, 2021, 8:52 AM MDT
May 25, 2021, 7:57 AM MDT
May 11, 2021, 7:59 AM MDT
The Government of Alberta is changing the calculation for how much oilsands mining companies must pay into the Mine Financial Security Program (MFSP) while the program itself conducts a review to ensure security amounts align with the intent of the program.
May 6, 2021, 12 PM MDT
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
April 13, 2021, 12 AM MDT
March 23, 2021, 10:53 AM MDT
March 10, 2021, 7:42 AM MST
March 5, 2021, 8:18 AM MST