The supply disruption caused by an attack on a major Saudi oil processing facility has renewed calls from Alberta politicians to get more energy from that province into the world market. “Instability in the Middle East underscores the importance of…
Tag: Oil Prices
Suncor Energy CEO says he’s not counting on oil risk premium after Saudi attacks
The CEO of Suncor Energy Inc. says his company isn’t counting on higher cash flow despite analyst expectations of a “risk premium” on crude oil prices in the wake of last weekend’s attacks on Saudi Arabian oil facilities. Benchmark oil…
Oil price jump linked to Saudi Arabian attacks sparks energy stock rally
Higher oil prices spurred by an attack on Saudi Arabian oil facilities boosted the Canadian energy sector on Monday but are expected to result in higher fuel prices for consumers. Long-suffering Canadian oil and gas stocks were on track to…
Chinese companies commit to Alberta oilsands despite setbacks
While some European and U.S. companies cut their exposure to the Canadian oilsands, China’s Big Three oil giants — CNOOC, PetroChina and Sinopec — seem content to let their bets ride even if the results haven’t been spectacular. In 2018,…
Federal Court of Appeal to rule Wednesday on letting Trans Mountain pipeline appeals proceed
The Federal Court of Appeal says it will reveal Wednesday whether a new set of legal challenges to the Trans Mountain pipeline project can proceed. The federal government has twice approved a plan to twin an existing pipeline from Alberta’s…
Foreign share of production in Alberta’s oilsands falls from 33% to 16%, analysis shows
When it comes to talking about how the northern Alberta oilsands have lost their lustre for foreign investors, Satoshi Abe sounds a lot like his Canadian counterparts. “I think Canada itself creates significant barriers to new investment,” said the president…
Nebraska opponents of Keystone XL pipeline ask court to rehear case
Opponents of the Keystone XL pipeline are asking the Nebraska Supreme Court to reconsider its ruling that upheld state regulators’ decision to approve the project. Attorneys for the opponents filed a motion Thursday for the court to rehear the case.…
Enbridge says oil producer complaints won’t alter Mainline pipeline open season plan
A senior executive with Enbridge Inc. says the company won’t change course on its plan to convert most of its Mainline pipeline system to long-term contracts despite growing opposition from major Canadian oil producers. Canadian Natural Resources Ltd. is the…
Suncor asks NEB to close down Enbridge open season on Mainline pipeline
An open season launched by Enbridge Inc. to try to lock shippers into long-term contracts on its Canadian Mainline oil pipeline system is designed to take advantage of “mostly captive shippers,” Suncor Energy Inc. says. In a submission to the…
Oilsands firms considering diluent recovery units to increase crude by rail volumes
Ongoing pipeline project delays and growth in crude-by-rail capacity from Western Canada are leading some oilsands producers to consider spending billions of dollars to build diluent recovery units. Oilsands bitumen is a thick, sticky oil which must be diluted with…