Oil Sands
News
February 25, 2021
In practical terms, the oil sands revision clipped Exxon’s future growth prospects until oil prices rise, costs slide or technological advances make it profitable to drill those fields.
News
January 21, 2021
Jason Kenney said Justin Trudeau should demand the new U.S. administration sit down and discuss the project in the context of environmental, climate and security policy. If that fails, Canada should be willing to impose “meaningful” punitive measures against its biggest trading partner.
News
January 15, 2021
Efforts by Canada’s government to hire a firm to do a financial analysis of its Trans Mountain pipeline and a facilitator to help indigenous communities have rankled at least one group in British Columbia.
News
December 14, 2020
Steady output from their mines means that oil sands producers are able to keep revenue coming for decades without too much investment, while the short life span of shale wells forces U.S. explorers to constantly burn cash just to keep up production.
News
October 22, 2020
Oil sands producers will benefit from less output of competing crude from Latin America as Pemex expects to cut exports while Venezuelan supplies remain off limits due to U.S. sanctions.
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 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
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 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.
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.
News
July 07, 2020
Crude from Canada's oil sands is almost entirely shipped through U.S. pipelines to refineries in the Midwest and Gulf Coast. The lack of enough shipping capacity has been the dominant problem facing the industry for the past several years.
News
June 04, 2020
Canadian banks’ exposure to oil and gas loans has surged to a record as energy firms tapped credit lines to combat plunging oil prices.
News
May 07, 2020
Enbridge Inc., North America’s largest pipeline operator, is cutting jobs, lowering executive pay and deferring some capital spending as measures to fight the Covid-19 virus reduce oil flows on its system and slow down construction.
News
May 05, 2020
Canadian heavy crude surged to its strongest price versus futures since at least 2008 as producers curtailed output and Enbridge Inc. agreed to open part of its pipeline system for storage.
News
March 27, 2020
Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself, a situation that may result in even more oil-sands producers shutting operations.
News
March 15, 2020
Canadian oil and gas companies are cutting C$2.4 billion to C$3.5 billion ($1.7 billion-$2.5 billion) from their budgets for this year as low prices make most production unprofitable.
News
February 25, 2020
The cancellation of Teck Resources' Frontier project in northern Alberta - which envisaged producing more crude than OPEC member Gabon - epitomizes the struggles of an industry that has already seen most foreign investors flee...
News
January 30, 2020
Capital spending in the world’s third-largest crude reserves is projected to rise 8.4% to C$11.6 billion ($8.8 billion) this year, according to the Canadian Association of Petroleum Producers, the industry’s main lobbying group.
News
January 29, 2020
Now based in Denver, Ovintiv Inc. will update investors Wednesday on its progress for the shale oil assets in Oklahoma it amassed after the $5.5 billion acquisition of Newfield Exploration Co. in 2018.
