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…

‘This is good:’ Natural resources minister welcomes oil nations’ deal to cut production

By Staff Reuters Posted April 12, 2020 6:49 pm Smaller font Descrease article font size –A Larger font Increase article font size A+ OTTAWA  — Canada on Sunday formally welcomed a deal by OPEC and allies to cut oil output…

Global deal in the works to pump less crude oil, stabilize market

Oil-producing countries including those of the OPEC cartel and Russia are trying to strike a global deal to pump less crude in a bid to limit a crash in prices that, while welcome for consumers, has been straining government budgets…

Feds torn between moving toward cleaner energy or bailing out oil and gas sector

Canada’s oil producers could only sit and watch as the price of their product plummeted last month to less than what it costs to buy a litre of soda, hit by the double whammy of a COVID-19-induced drop in global…

Alberta oilsands struggling as Western Canadian Select plunges to $5 per barrel

Oil and gas producers in Alberta may very well be facing their toughest challenge to date, as the price of Western Canadian Select closed at US$5.29 Wednesday. Experts have attributed the price drop to the ongoing COVID-19 pandemic, as well…

Canada ‘very concerned’ with OPEC’s decisions amid coronavirus outbreak: Trudeau

Prime Minister Justin Trudeau said Canada is “very concerned” with the Organization of the Petroleum Exporting Countries’ (OPEC) decisions amid the novel coronavirus outbreak, but that the government remains focused on helping Canadians struggling as a result of the dramatic…

Coronavirus outbreak: Kenney calls for coordinated tariffs with U.S. in response to ‘predatory dumping’ of Saudi oil

Alberta Premier Jason Kenney raised concerns Friday about what he called “predatory dumping” of Saudi oil with OPEC pricing oil below market prices in response to a price war with Russia, a practice he stated could result in continued “catastrophically…

Oil price crash to hit thermal oilsands production in Western Canada: Analyst

By Global News Posted March 27, 2020 2:14 pm Smaller font Descrease article font size –A Larger font Increase article font size A+ An oil and gas analyst says record low prices for oilsands crude could lead to up to…