Alberta’s decision to temporarily curtail close to 10 per cent of oil output to stem a growing market access conundrum that led to a collapse in prices last fall has not only caused Imperial Oil Limited to reassess its production growth, but skews the market in unintended ways and could lead to longer term damage to the country's reputation, according to Rich Kruger, president and CEO.
February 8, 2019, 11:56 AM MST
February 8, 2019, 10:53 AM MST
Imperial Oil Limited was ramping up its crude-by-rail activity even faster than expected at the end of 2018, with the company responsible for approximately half of total volumes moving out of Western Canada. But in a dramatic shift, Imperial says it is now rapidly ramping down, and expects to reach zero bbls moving by rail this month.
February 1, 2019, 11:24 AM MST
February 1, 2019, 8:19 AM MST
Canada’s Oil Sands Innovation Alliance (COSIA) announced today that its chief executive, Dan Wicklum, is stepping down after seven years as head of the organization.
January 25, 2019, 10:50 AM MST
MEG Energy Corp. executives say "the clouds have lifted" now that it is no longer being pursued by Husky Energy Inc. However, the outlook isn’t yet clear enough for the company to sanction its full 2019 capital program.
January 22, 2019, 10:56 AM MST
A third SAGD project in three months has been withdrawn from the Alberta Energy Regulator (AER). Acting on the request of partners BP Canada and Value Creation Inc., the AER has rescinded its approvals for the Terre de Grace joint venture.
January 18, 2019, 6 AM MST
Suncor Energy Inc. plans to begin construction this year on a major cogeneration project at the company’s base mine, analysts with Peters & Co. Limited reported.
January 18, 2019, 9:59 AM MST
January 18, 2019, 11:13 AM MST
January 18, 2019, 9:12 AM MST
The Alberta government has adjusted the way it is applying its mandatory oil production curtailment in the first quarter following industry feedback.
January 15, 2019, 10:57 AM MST
Suncor Energy Inc.’s first-adopter work commercializing autonomous haulage systems (AHS) in oilsands mining is leading a shift in the sector that has global impact even in its earliest of stages.
January 8, 2019, 11:28 AM MST
Suncor Energy Inc. says it set a quarterly production record of 831,000 boe/d in the fourth quarter of 2018, up 12 per cent from the third quarter.
January 7, 2019, 8:54 AM MST
After reviewing the submissions made to the Alberta Energy Regulator’s Production Curtailment Issues Panel and considering the advice of the panel, the government of Alberta has decided to amend the curtailment rules.
December 31, 2018, 10:26 AM MST
Canadian crude oil exports by rail are continuing to set records.
December 21, 2018, 9:54 AM MST
Two of the industry’s shining stars will be recognized for their responsible development of Alberta’s natural resources.
December 13, 2018, 6 AM 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
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
November 16, 2018, 3:22 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, 3:53 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