Western Canadian producers are moving to restore some oil production as crude prices rise with demand thanks to the gradual opening of the world economy and OPEC and Russian output cuts. But analysts say companies hit hard by low crude…
Tag: Oil Prices
Alberta energy minister says gathering limits make it a ‘great time to be building a pipeline’
Alberta’s energy minister says it’s a good time to build a pipeline because public health restrictions limit protests against them. Sonya Savage made the comment Friday on a podcast hosted by the Canadian Association of Oilwell Drilling Contractors. She was…
Oilpatch mergers and acquisitions expected to pick up after pandemic’s dampening of demand eases
The financial stress caused by low oil prices from plummeting fuel demand during the COVID-19 pandemic will result in a wave of Canadian energy mergers and acquisitions — but not until after the world begins to return to normal, observers…
Teck CEO defends strategy at mining conference as investors launch criticism
The CEO of Teck Resources Ltd. defended his company’s growth strategy on Tuesday as dissident shareholders criticized what they called “underperforming” investments in coal and oilsands. “Our strategy is very straight forward,” said CEO Don Lindsay in a webcast speech…
Canadian oil sector welcomes federal aid for large firms despite climate change conditions
By Staff The Canadian Press Posted May 11, 2020 5:39 pm Updated May 11, 2020 5:41 pm Smaller font Descrease article font size –A Larger font Increase article font size A+ The oil and gas sector and the Alberta government…
Kenney fires back at May and Blanchet, calls comments about oil industry ‘un-Canadian’
A day after leaders with the federal Green Party and the Bloc Québécois suggested they believe Canada’s embattled oil industry may not bounce back, Alberta Premier Jason Kenney fired back at their comments and touted the energy sector’s contributions to…
Enbridge converts idled Mainline export system pipeline for crude oil storage
By Global News Posted May 5, 2020 5:21 pm Smaller font Descrease article font size –A Larger font Increase article font size A+ Analysts say an Enbridge Inc. plan to use an idled leg of its Mainline pipeline system to…
AIMCo CEO responds to concerns about potential impact of oil price crash on public pensions
The CEO of the entity that manages Alberta’s public pensions delivered a message Thursday to those concerned about their retirement investments and said he wants to assure them they are not at risk. “As CEO of AIMCo (Alberta Investment Management…
Precision Drilling reports $5.3M Q1 loss, warns of drop in demand well into 2021
By The Canadian Press Posted April 30, 2020 8:21 am Smaller font Descrease article font size –A Larger font Increase article font size A+ Precision Drilling Corp. reported a loss in its first quarter and warned that it expected a…
Alberta energy companies losing billions in downturn
April 29 2020 8:17pm First quarter numbers show red ink and expense cuts, as energy companies grapple with low oil prices. Provincial affairs reporter Tom Vernon has the details. ‘ }); } else { var rel_id = svp.releaseInfo.contentId+””; if( typeof…