Canada
News
November 05, 2020
Tourmaline Oil Corp. is buying two rivals in the Canadian oil and gas industry’s latest move to weather its worst downturn in a generation.
News
October 30, 2020
Despite increased drilling activity and strong Q3 results across the board for the supermajors, Exxon Mobil spent the week slashing headcount and planning major asset sales to meet its dividend commitments.
News
October 30, 2020
Regardless of either victorious candidate, any chance of balanced and proportionate climate and energy policy will be extremely difficult to salvage, writes Dennis McConaghy, retired TC Energy executive and author.
News
October 29, 2020
“The announcement by Equinor and partner BP Canada that oil has been found in the Flemish Pass Basin is encouraging, at a time when encouraging news is needed for the Newfoundland and Labrador offshore oil and gas industry," said Charlene Johnson, CEO of the Newfoundland and Labrador Oil and Gas Industries Association.
News
October 26, 2020
Cenovus Energy Inc. is getting more than just a rival Canadian oil producer with its acquisition of Husky Energy Inc. It’s also shoring up its defenses against an anti-oil sands movement that could get a boost if Joe Biden is elected as the next president of the U.S.
News
October 26, 2020
The newly combined company is expected to break even in 2021 at a West Texas Intermediate crude price of US$36 a barrel. It will continue to operate as Cenovus Energy with its headquarters remaining in Calgary.
News
October 23, 2020
Alberta’s two-year experiment with OPEC-style crude production curbs is coming to an end.
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 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.
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
January 10, 2020
After big wins shorting U.S. shale, a hedge fund is turning its sights on the beaten-down Canadian oil sector.
News
January 09, 2020
Cenovus Energy Inc. joined some of its oil-sands peers in setting a goal of reaching net-zero emissions from its operations, part of a push to improve the industry’s reputation and win over environmentally minded investors.
News
January 08, 2020
Alberta’s government has loosened output limits imposed at the start of 2019 to counter a glut caused by a lack of pipeline capacity and too much oil production. Before the cuts, Western Canadian Select’s discount to WTI has grown as wide as $50 a barrel.
News
December 19, 2019
Crude-by-rail capacity in Alberta is expected to grow by 100,000 bpd in December after the provincial government eased production limits for oil transported by train, the Energy Ministry said Wednesday.
News
December 13, 2019
Canadian energy firms have quietly outperformed their U.S. counterparts this year and, even after the run, a chorus of positive outlooks on the sector to the north continues.
