Canada ///
Boom times are back for at least one company in Canada’s oil heartland.
MEG Energy Corp. rejected a $2.34 billion hostile takeover offer from Husky Energy Inc. and announced a plan to seek other buyers, kicking off a bidding war for its prized Canadian oil-sands assets.
Gibson Energy surged the most in more than a year after announcing a plan to build 1 MMbbl of new oil-tank space in Western Canada.
Saturn Oil & Gas Inc. has successfully bid on certain targeted parcels at the recent Crown land sale, earlier this month.
The recent collapse in Canadian oil prices may have a silver lining.
Chinese oil buyers are making a beeline for a bargain across the Pacific.
Alberta Premier Rachel Notley said the province may soon announce more plans to help the local energy industry reap more value from its resources amid a slump in Canadian crude prices.
Noia has informed its members, the oil & gas industry, and the public that nominations are now being accepted for the 2019 Industry Achievement Awards. Nominations will remain open until 5 p.m. Friday, November 16, 2018, for both the Outstanding Contribution Award and the Rising Star Award.
Canadian oil hit a record low relative to U.S. crude, hurt by reduced capacity at American refineries and a jump in production from new oil-sands megaprojects that has overwhelmed the nation’s pipeline system.
Canadian heavy crude’s discount to WTI futures increased to the widest in almost five years, raising the specter of local oil producers curtailing operations.
While the LNG Canada facility that was greenlighted Tuesday won’t be operating for years, the battered Canadian energy industry is already hoping that it will be the first of many such plants on the country’s Pacific Coast.
Fluor Corporation has announced that LNG Canada has made the final investment decision to build its liquefied natural gas (LNG) export facility in Kitimat, British Columbia, Canada.
Two of Shell’s Asian partners in a LNG venture in western Canada approved their share of the investment, pushing the project closer to a final approval.
Cenovus Energy Inc. signed deals to transport about 100,000 bpd of heavy crude by rail to the U.S. Gulf Coast from Alberta as a pipeline bottleneck depresses Canadian oil prices.
Royal Dutch Shell Plc and its partners are set to announce a decision on their C$40 billion ($31 billion) liquefied natural gas terminal in western Canada as early as next week, amid signs the companies are poised to approve it, according to people familiar with the plans.
Michele Cowart, World Oil
LLOG Exploration delivered first production from its Crown and Anchor fields in the Gulf of Mexico, during second-quarter 2018.
Kurt Abraham, World Oil
Moderate, stable growth is in the offing
The Permian basin isn’t the only oil field facing pressure from pipeline bottlenecks.
After years of suffering through plunging energy prices and declining spending by oil-sands companies, Canada’s oilfield-service industry is seeing a light on the horizon.
A colossal Canadian oil-sands project may be showing the way forward for an industry many thought would never see new investments.