Canada
News
October 02, 2020
“The recent near-death experience for some heavy oil producers is a good reminder that investors should focus on companies with strong balance sheets, ample liquidity, robust cost structures, and low sustaining capital requirements,” BMO Capital Markets analyst Randy Ollenberger said in a report.
News
September 30, 2020
Newfoundland and Labrador’s 2020 Independent Oil and Gas Resource Assessment results show 11.1 billion barrels of oil and 24.5 trillion cubic feet of natural gas potential offshore.
News
September 25, 2020
While Canada's leaders promise measures to protect oilfield livelihoods, shale drillers in the U.S. are working to minimize the impacts of a potential Biden victory.
Article
September 2020
As the world holds its collective breath over Covid-19, Canada’s oil patch has shifted drastically to pure survivalism. Most measuring sticks of industry health show historic lows, while lack of market access continues to hurt producers.
News
September 24, 2020
The Government of Newfoundland and Labrador announced the establishment of a new offshore exploration initiative to provide companies with the incentive to drill more wells in the best prospects.
News
September 11, 2020
In this week's podcast, World Oil editors discuss how legislative activities, a smaller labor pool, and harsh economic realities are impacting options for oil and gas sector growth in North America's post-coronavirus economy.
News
September 09, 2020
“Unfortunately, the delay caused by COVID-19 and continued market uncertainty leaves us no choice but to undertake a full review of the project and, by extension, our future operations in Atlantic Canada," said Husky CEO Rob Peabody.
News
September 03, 2020
On September 3rd, Prime Minister Justin Trudeau spoke with VOCM Open Line host Paddy Daly who asked pointed questions about supporting the Newfoundland and Labrador offshore oil and gas industry. The responses of the prime minister did not provide any commitment or clarity, despite months of a crisis in the offshore, advocacy by the Newfoundland and Labrador Oil and Gas Industries Association (Noia), as well as information sharing by Noia, the Government of Newfoundland and Labrador, and other stakeholders.
News
September 02, 2020
Heavy Canadian crude rose after a spill led to the shutdown of a pipeline that supplies diluent to two major oil-sands sites in Alberta.
News
August 31, 2020
Siemens Energy has been selected to provide its highly efficient gas turbine technology and long-term services to the planned 900 MW Cascade Power Plant in Alberta, Canada. The project supports the decarbonization of Alberta's power supply by switching from coal to natural gas.
News
August 06, 2020
In 1976, Alberta’s government established a special fund to save some of its oil and gas revenue for leaner times when prices dropped or resources ran dry. For decades, royalties poured into Alberta’s coffers, with the gusher accelerating in the boom of the early 2000s as the province developed its vast oil-sands reserves, the world’s third-largest oil resource. But successive governments failed to stick to the savings plan.
News
July 30, 2020
The Trump administration will allow the existing Keystone pipeline to carry more oil-sands crude into the Midwest and U.S. Gulf Coast while the conduit’s decade-old expansion project faces renewed legal hurdles.
News
July 29, 2020
Total announced an $8.1 billion writedown after the push to curb carbon emissions and the coronavirus pandemic challenged assumptions about the long-term viability of some oil and gas assets. About $7 billion applies to Canadian oil sands, which are costlier and more carbon intensive than conventional fields.
News
July 28, 2020
Using data acquired in partnership with PGS, this study offers seamless subsurface interpretation for the entire offshore East Coast Canada and is available for immediate licensing.
News
July 27, 2020
The market for production credits formed at the start of last year, when Alberta ordered its largest oil producers to curtail production to alleviate a glut caused by too much oil flowing into too few pipelines.
News
July 24, 2020
Canada’s Natural Resources Minister Seamus O’Regan said he’s in talks with the U.S. Secretary of Energy Dan Brouillette about finding a path to move ahead with oil pipeline projects, the Globe & Mail reported.
Article
July 2020
Several times, over a period from mid-April to June 4, Canadian federal officials—principally as voiced by Natural Resources Canada Minister Seamus O’Regan—declared that they recognized that the NL offshore oil and gas industry is important, and that action would happen “soon.”
News
July 20, 2020
BJ Services Company, one of the pioneers of the fracing techniques behind America’s shale revolution, filed for Chapter 11 bankruptcy protection on Monday morning amid a severe downturn in oilfield services demand.
News
July 01, 2020
With the offshore energy industry now in crisis mode, and no sign of help from Ottawa, companies are putting many of their projects on hold indefinitely.
Article
July 2020
One of the more exasperating, outrageous situations being played out in the global upstream industry is the Trudeau administration turning a deaf ear, so far, to repeated requests and pleas for federal officials to lend substantive help to Newfoundland and Labrador’s (NL) offshore oil and gas industry.
News
July 08, 2020
At least 20% of shut-in Canadian production is being restored, just months after the price crash forced producers in Alberta’s oil sands to slash up to 1 million barrels a day of output.
