November 23, 2018, 11:04 AM MST
A correction in international benchmark crude prices turned to an historic rout with the market caught flatfooted early this month by the Trump administration’s announcement of waivers on reintroduced U.S. economic sanctions for eight significant purchasers of Iranian oil.
November 19, 2018, 7:35 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
November 15, 2018, 9:18 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
November 14, 2018, 4:26 AM MST
November 14, 2018, 10:42 AM MST
November 13, 2018, 7:27 AM MST
November 12, 2018, 11:31 AM MST
November 12, 2018, 10:25 AM MST
November 9, 2018, 4:47 AM MST
November 9, 2018, 8:12 AM MST
November 8, 2018, 3:50 AM MST
There will continue to be a role in the world for Canadian heavy crude, although Canada will have to be more reliant on its own oil companies to develop new oilsands projects with the departure of foreign investors, a global oil market strategist said Tuesday.
November 7, 2018, 4:43 AM MST
November 7, 2018, 3:28 AM MST
November 6, 2018, 3:40 AM MST
Uncertainty surrounding oil and gas prices, market access issues, rising regulatory costs, and a closed equity market are creating major headwinds for Canadian oil and gas producers as 2018 comes to an end and these challenges will trickle down to an already hurting service and supply industry in the new year, a packed house at the Petroleum Services Association of Canada’s (PSAC) 2019 Canadian Drilling Activity Forecast event heard on Thursday.
November 2, 2018, 10:45 AM MDT
The Net Energy Inc. differential between West Texas Intermediate (WTI) and Western Canada Select (WCS) averaged a record US$44.80/bbl in October — a jump of more than 40 per cent from September’s average $31.82/bbl discount.
November 2, 2018, 9:48 AM MDT
November 2, 2018, 9:35 AM MDT
Because of challenges associated with historically wide differentials and lack of egress out of Western Canada, Canadian Natural Resources Limited says it will continue to make “strategic decisions” to reduce drilling activity, delay well completions and shut-in production.
November 1, 2018, 11:20 AM MDT
Western Canada has the cheapest oil prices in the world. Canadian heavy oil is selling for US$45 under WTI, light oil is selling for US$25/bbl less. The price markdowns are costing the Canadian economy over C$100 million each day.
October 31, 2018, 7:54 AM MDT
Granite Oil Corp. has exited its strategic alternatives process, with no viable business options presented as a result of the state of investor sentiment.
October 31, 2018, 3:27 AM MDT