Downstream assets acquired by Cenovus Energy Inc.’s in its 2021 combination with Husky Energy Inc. have helped ease the blow of widened West Texas Intermediate (WTI)-Western Canadian Select (WCS) differentials, says Alex Pourbaix, president and CEO.
August 9, 2022, 12 AM MDT
The chief executives of Canada’s oilsands juggernauts say inflationary pressures are being felt but are limited in impact so far because their respective long-lead-time projects have required them to procure supplies and services prior to any major price spikes.
August 8, 2022, 8:29 AM MDT
With his “number one focus” on improving Suncor Energy Inc.’s safety and operating performance, interim president and CEO Kris Smith says he’s been “deeply engaged with the management team and our improvement plan and its execution to drive that improvement and strengthen our safety culture.”
August 8, 2022, 12 AM MDT
Suncor Energy Inc. continues to review options for its retail business to ensure the company is maximizing the long-term value of that business segment and “we will disclose the results of this process in the fourth quarter,” says Kris Smith, interim president and CEO.
August 8, 2022, 12 AM MDT
Suncor Energy Inc.’s interim chief Kris Smith says the company’s ability to operate reliably and efficiently is underpinned by its value of “safety above all else.”
August 5, 2022, 9:55 AM MDT
Suncor Energy Inc. has revised its full-year outlook for capital expenditures from a single point estimate of $4.7 billion to a range of $4.9-$5.2 billion while also downgrading its average production expectations for the year.
August 5, 2022, 10:41 AM MDT
Driven by a strong business environment in both the upstream and downstream segments, Suncor Energy Inc. reported strong Q2 financial results including record adjusted funds from operations of approximately $5.3 billion while it executed planned maintenance across its asset base.
August 5, 2022, 11:30 AM MDT
Tim McKay, president of Canadian Natural Resources Limited, is not a fan of the federal government’s recently released oil and gas sector emissions cap discussion paper, joining other companies in the Pathways Alliance group.
August 5, 2022, 12 AM MDT
Canadian Natural Resources Limited has increased its 2022 capital budget to $4.92 billion from $4.35 billion as the company looks to “capture additional value by accelerating strategic growth opportunities” within its large and diverse asset base and to account for inflationary pressures.
August 4, 2022, 2:05 PM MDT
Backstopped by strong operational performance, an active drilling program and record natural gas output, Canadian Natural Resources Limited boosted Q2 output six per cent from the second quarter of 2021.
August 4, 2022, 10:45 AM MDT
Canadian Natural Resources Limited’s second quarter earnings more than doubled year-over-year and cash flow spiked, prompting the company to announce a special dividend.
August 4, 2022, 11:18 AM MDT
The oil and gas industry, among other industrial sectors, may benefit from a new opportunity for a nuclear reactor and fuel design engineering company.
August 4, 2022, 12 AM MDT
The development of the Trans Mountain expansion project gives Gibson Energy Inc.’s executive management optimism about future development at its Edmonton Terminal, but prospective customers are citing “clear visibility” on a pipeline in-service date as an important factor being weighed in their investment decisions.
August 3, 2022, 9:01 AM MDT
With first quarter challenges now in the rearview mirror, Imperial Oil Limited expects its Kearl oilsands mining asset to continue to build momentum and get to a sustained production level of 280,000 bbls/d.
August 2, 2022, 12 AM MDT
Heavy oil differential levels are expected to return to where they were prior to Russia’s invasion of Ukraine, says the chief executive of MEG Energy Corp.
August 2, 2022, 10 AM MDT
Like a lot of people in Calgary, Derek Evans says he was surprised by the federal government’s announcement nearly two weeks ago that outlined new 2030 emissions reduction goals for the oil and gas sector.
July 29, 2022, 9:47 AM MDT
Add Imperial Oil Limited’s top executive into the growing chorus of oilsands CEOs who are denouncing the federal government’s July 18 announcement of more stringent targets to reduce oil and gas sector emissions by 2030 and two controversial proposals on how that will be achieved.
July 29, 2022, 12:30 PM MDT
Despite weather-related operational challenges earlier this year, Imperial Oil Limited’s president and CEO Brad Corson says the company’s operations rebounded in Q2 and, along with strong commodity prices, backstopped solid production gains and financial results.
July 29, 2022, 11:09 AM MDT
Acceleware Ltd. continues to advance and validate its heavy oil electrification technology on its commercial-scale, RF XL pilot project at Marwayne.
July 29, 2022, 12 AM MDT
Cenovus Energy Inc. delivered solid second quarter operating and financial results while completing significant planned turnarounds and maintenance in its upstream and downstream operations.
July 28, 2022, 10:41 AM MDT
Cenovus Energy Inc. has updated its 2022 corporate guidance and has hiked spending by $400 million at the midpoint to a range of $3.3 billion to $3.7 billion.
July 28, 2022, 11:37 AM MDT
Cenovus Energy Inc.’s top executive says the two options outlined in the federal government’s recently released oil and gas sector emissions cap discussion paper are untenable and would lead to production shut-ins at a time when global energy security is of paramount concern.
July 28, 2022, 2:52 PM MDT
Athabasca Oil Corporation is increasing its financial forecasts for 2022 based on strong operational performance and updated pricing assumptions.
July 28, 2022, 12 AM MDT
Martin King has seen numerous cycles in the crude oil and natural gas markets over his approximately three decades of tracking and analyzing the sector, but the senior analyst at RBN Energy, LLC says the current cycle stands out on many different levels.
July 27, 2022, 12 AM MDT
Teck Resources Limited reported inflationary cost pressures for natural gas and diesel costs, as well as an increase in contractor costs.
July 27, 2022, 12 AM MDT