Challenging. That’s KPMG national energy leader Michael McKerracher’s one-word description of the current state of Canada’s oil and gas industry.
July 15, 2020, 11:39 AM MDT
Canadian oil supply declined by another 270,000 bbls/d in May, reported the International Energy Agency (IEA), taking the total decline since the end of 2019 to nearly one million bbls/d or roughly 20 per cent of national production.
July 10, 2020, 6 AM MDT
Dented global energy demand owing to the coronavirus pandemic portends a quiet summer for drilling activity across North America.
June 30, 2020, 11:15 AM MDT
Global demand for low-cost, low-carbon energy is challenging the future prosperity of Canada’s hydrocarbon sector, says a new report.
June 30, 2020, 10:44 AM MDT
MEG Energy Corp. and Murphy Oil Corporation were two North American oil producers that made significant gains from hedging strategies in Q1 2020.
June 29, 2020, 12 AM MDT
The development of the new LNG plants in Canada that appear most likely to proceed could create up to 8,300 jobs in the upstream sector, several thousand peak construction jobs, 1,200 or more operations positions and thousands of spin-off jobs in local communities, according to a new report.
June 25, 2020, 7:55 AM MDT
Crescent Point Energy Corp.’s 2020 Sustainability Report highlights several progressive measures on the environmental, social and governance (ESG) front, including adoption of an operational technology platform that minimizes the risk of spills, reduces fleet emissions, and decreases vehicular collision risk.
June 25, 2020, 7:06 AM MDT
Prices may have plummeted below US$30/bbl in Q1, but this did not result in a monumental shift in hedging strategy among North American oil producers.
June 24, 2020, 7:41 AM MDT
Gas consumption is expected to fall by four per cent in 2020 due to lower heating demand from the warm winter, the implementation of lockdown measures in almost all countries and territories to slow the spread of COVID-19, and a lower level of activity caused by the virus-induced macroeconomic crisis, the International Energy Agency (IEA) forecast today.
June 10, 2020, 4:59 AM MDT
Total Alberta capital expenditures in oil, natural gas and oilsands fell by 31 per cent in 2019 to $18.9 billion from $27.5 billion in 2018 although global capital spending was up, says the Alberta Energy Regulator (AER) in its annual energy outlook.
June 9, 2020, 6:39 AM MDT
The Alberta Energy Regulator (AER) in its annual energy outlook is forecasting a 57 per cent drop in its base case price for Western Canadian Select (WCS) to US$19/bbl in 2020 from $44.28 bbl in 2019.
June 9, 2020, 6:54 AM MDT
The Canadian Association of Petroleum Producers (CAPP) says it has deferred its 2020 crude oil forecast in the midst of the current global uncertainty.
June 2, 2020, 11:19 AM MDT
In this week’s guidance, we detail natural gas capital plans, an update on Enbridge Inc.’s Line 3, and the drop in crude-by-rail volumes.
May 27, 2020, 11:31 AM MDT
The Alberta government and the Canadian Association of Petroleum Producers (CAPP) welcomed last Monday’s announcement by the federal government of a new multi-sector bridge financing program to help large employers, although they caution the details remain to be worked out.
May 20, 2020, 9:29 AM MDT
After setting a new production record of more than 5.8 million bbls/d in December 2019, total Canadian oil supply flowed at robust levels through Q1 2020.
May 14, 2020, 7:06 AM MDT
North American producers continue to slash their capital budgets in the wake of low oil prices and COVID-19 demand destruction, but many are also reviewing their ongoing operating expenses.
May 13, 2020, 11:39 AM MDT
A $1.7 billion federally-funded program aimed at putting energy workers back to work immediately while accelerating well site abandonment and reclamation efforts launched May 1 with an initial $100 million, according to the Alberta government.
May 5, 2020, 11:42 AM MDT
Colombia’s knack for innovation and cultivating a stable, positive relationship with its E&P industry at large have been key factors for the nations success in attracting foreign investment.
April 30, 2020, 6 AM MDT
Declines in capital investment in Canada’s oil and gas industry, combined with technological changes, have had a negative impact on the oil and gas supply chain since the oil price collapse in late 2014.
April 30, 2020, 7:28 AM MDT
In Q1 2020, a total of just US$21 billion in new upstream oil and gas M&A deals were agreed against a torrid backdrop of COVID-19 demand decline and an industry price war.
April 29, 2020, 6:40 AM MDT
2019 was a very positive year for the Latin American upstream industry, according to analysis provided in the latest report released by Evaluate Energy, the Daily Oil Bulletin and Sproule.
April 29, 2020, 6 AM MDT
Producers working across the Western Canadian Sedimentary Basin continue to accelerate shut-in of currently uneconomic production to improve their balance sheets.
April 28, 2020, 11:28 AM MDT
2019 was a very positive year for the Latin American upstream industry, according to analysis provided in the latest report released by Evaluate Energy, the Daily Oil Bulletin and Sproule.
April 27, 2020, 6:49 AM MDT
Export Development Canada (EDC) said that in response to the COVID-19 crisis, the Government of Canada, through EDC and the Business Development Bank of Canada (BDC), will make available added financial capacity to help support Canada’s oil and gas sector.
April 21, 2020, 11:10 AM MDT
As COVID-19 containment halts mobility, worldwide oil demand for 2020 will likely fall by a record 9.3 million bbls/d, erasing almost a decade of growth, says the International Energy Agency (IEA) in its April oil market report.
April 15, 2020, 8:43 AM MDT
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