Global oil demand fell 160,000 bbls/d year-over-year in May, the second annual fall seen in 2019, according to the International Energy Agency (IEA).
August 9, 2019, 7:21 AM MDT
Gibson Energy Inc. is refining its expected 2019 capital budget to between $230 million and $280 million, reflecting growth projects the company has added since the start of this year.
August 7, 2019, 11:16 AM MDT
The recent open letter to Canadians penned and signed by three oilsands sector executives was on target — but it missed a bull's-eye opportunity.
August 6, 2019, 9:28 AM MDT
The CEO of Imperial Oil Limited says that physical market conditions are ripe for the Alberta government to ease its oil curtailment sufficiently to “test the system” and provide a sustainable economic incentive for crude-by-rail to balance the market.
August 2, 2019, 11:12 AM MDT
Athabasca Oil Corporation’s second quarter consolidated output decreased to 33,958 boe/d from 37,658 boe/d for the comparable period in 2018 as both the company’s light oil and thermal segments reported reduced production year-over-year.
August 2, 2019, 12 AM MDT
The resolution of the market access issues facing the Canadian oil industry is starting to get “less blurry,” says the president of the country’s largest producer. Tim McKay told Canadian Natural Resources Limited’s second quarter conference call this morning that there is positive momentum on a number of fronts that should help improve market conditions.
August 1, 2019, 11:31 AM MDT
August 1, 2019, 6:45 AM MDT
The cautious optimism of MEG Energy Corp.’s initial 2019 capital budget has been pulled back, with the company announcing that it will not sanction $75 million that would have gone towards incremental production growth at its Christina Lake oilsands project.
July 31, 2019, 10:05 AM MDT
North American Construction Group Ltd. (NACG) expected positive financial results this year thanks to key acquisitions made last year, which is exactly what the company’s second quarter results confirm, says management.
July 31, 2019, 10:35 AM MDT
Value Chain Solutions, a member of the Value Creation Group, says that as the first phase of its Heartland complex upgrader it intends to consider accelerating implementation to the approved capacity.
July 30, 2019, 10:05 AM MDT
Teck Resources Limited’s proposed Frontier oilsands mine and processing plant north of Fort McMurray is in the public interest due to its economic benefits despite the fact it likely will result in significant adverse environmental effects, a Joint Review Panel has found.
July 26, 2019, 6:53 AM MDT
Teck Resources Limited is planning to reclaim the Frontier oilsands project footprint to equivalent land capability and relies on reclamation as the key mitigation measure for various environmental effects, said the Joint Review Panel report on the project released on Thursday.
July 26, 2019, 7:06 AM MDT
Suncor Energy Inc. reported record production and strong cash flow in the second quarter as the company strategically moved more bbls to Syncrude, including curtailment volumes purchased from third parties, in order to boost production of higher value synthetic crude oil (SCO).
July 25, 2019, 10:56 AM MDT
Suncor Energy Inc. is nearing a sanction decision on a new major project to replace coke fired boilers at its oilsands Base Plant with gas-fired cogeneration units, CEO Mark Little said this morning. The project is a key piece of the company’s strategy to an incremental $2 billion of cash flow by 2023, he said.
July 25, 2019, 11:01 AM MDT
Cenovus Energy Inc.’s top executive says the Alberta government’s mandatory curtailment program is “doing what it was designed to do,” and the company expects the province will continue to “use it as a tool” while there is an inadequate balance between takeaway and production capacity.
July 25, 2019, 11:48 AM MDT
Cenovus Energy Inc. posted strong second quarter results as free cash flow, earnings and most other financial metrics vastly improved year-over-year.
July 25, 2019, 10:49 AM MDT
Vancouver-based Teck Resources Limited benefitted from an improved profit outlook at the Fort Hills oilsands mine, where it is partnered with Suncor Energy Inc., to produce better second quarter financial results than otherwise would have been the case, as the prices for the key metals it mines declined.
July 25, 2019, 10:17 AM MDT
Canadian crude oil exports by rail climbed in May 2019 to 285,131 bbls/d, new data from the National Energy Board (NEB) showed this morning.
July 24, 2019, 11:47 AM MDT
Camp operators are banking on the long-term prospects of LNG export terminals and associated pipelines while at the same time signing contracts outside the traditional oil and gas sector.
July 15, 2019, 6:42 AM MDT
The provincial government will spend $2.5-million on a public inquiry into the sources of foreign-funded groups that campaign against the development of oilsands projects in Alberta.
July 5, 2019, 9:06 AM MDT
July 3, 2019, 8:47 AM MDT
Devon Canada Corporation has filed with the Alberta Energy Regulator to transfer approvals for its 120,000-bbl/d Jackfish SAGD project to Canadian Natural Resources Limited.
June 27, 2019, 3:08 PM MDT
The oilsands subsidiary of Japan Petroleum Exploration Company Limited has raised concerns that plans by Enbridge Inc. to offer priority access for Mainline volumes will result in the consolidation of pipeline capacity in the hands of foreign interests.
June 20, 2019, 7:45 AM MDT
The technical issues with the Sturgeon Refinery project may be linked to technology not proven as a way to process bitumen, says an expert in gasification technology.
June 20, 2019, 10:42 AM MDT
Mikisew Group of Companies and Sodexo Canada have changed the name of their oilsands joint venture in a bid to gain visibility in the Wood Buffalo region.
June 19, 2019, 7:55 AM MDT