Tag: Alberta Oilsands
Cenovus job cuts hinted as “hurricane force” headwinds hit industry
Cenovus to cut operating, admin costs by $200M CALGARY _ Cenovus Energy Inc. (TSX:CVE) is planning more layoffs this year as part of an effort to cut $400 million to $500 million in costs while it rides out a rough period of low oil and gas prices. “We had a stiff headwind in 2015 which, […]
Canadian Oil Sands overhauls board on brink of Suncor takeover
Ryan Kubik, Donald Lowry no longer with Canadian Oil Sands CALGARY _ Canadian Oil Sands Ltd., on the brink of being taken over by Suncor Energy, has overhauled its senior leadership team and board of directors. Ryan Kubik, who was CEO during the months-long takeover fight, and Donald Lowry, who was board chairman during that […]
Canadian oil producers among the few who have cut production
Canadian oil producers cut about 30,000 bpd CALGARY _ Consultancy Wood Mackenzie says Canadian oil producers are among the very few globally who have reduced output in the face of low oil prices. Wood Mackenzie says it found that only about 100,000 barrels a day, or 0.1 per cent of global production, has been cut […]
Alberta oil industry providers meet with Canadian Prime Minister
Justin Trudeau, Jim Carr, Rachel Notley meet with Alberta oil, gas producers CALGARY _ Prime Minister Justin Trudeau is sitting down in Calgary this morning with some of the major players in Canada’s oilpatch. Trudeau, federal Natural Resources Minister Jim Carr and Alberta Premier Rachel Notley are taking part in a roundtable with oil and […]
Canadian oilsands giant Suncor posts $2B Q4 net loss
Suncor production grew to 582,900 BOE/D during 2015 Q4 CALGARY _ Suncor Energy, Canada’s biggest oilsands player, has posted a net loss of $2 billion for the final three months of 2015 as it was walloped by the steep drop in crude prices. In addition to the oil price collapse, Suncor’s (TSX:SU) bottom line was […]
Suncor CEO: 1,700 jobs cut in 2015, company ‘overachieved’ on cost cutting
Suncor does not rule out more oilsands buyouts including MEG Energy, Cenovus CALGARY _The CEO of Canada’s biggest oilsands player says about 1,700 jobs were shed over the past year or so _ far surpassing its original target. Just over a year ago, Suncor Energy (TSX:SU) announced it would be cutting 1,000 jobs because of the […]
US tribes oppose Kinder Morgan pipeline expansion in Canada
Kinder Morgan looking to triple capacity in Trans Mountain pipeline project SEATTLE _ A proposed pipeline-expansion project in Canada will put the fishing rights and cultural heritage of U.S. tribes at risk, a lawyer representing several Washington state tribes told Canadian energy regulators. Kinder Morgan’s Trans Mountain project would nearly triple pipeline capacity from 300,000 […]
Connacher Oil further cuts Great Divide oilsands output
Connacher Oil output to fall by 70 to 80 per cent below Q4 levels in Feb., March CALGARY _ Connacher Oil and Gas Ltd. is responding to low commodity prices by slashing its Great Divide oilsands output, which will fall by 70 to 80 per cent compared with fourth-quarter levels. The Calgary-based company (TSX:CLC) says […]
Suncor COS takeover: Key things to know about $6.6B deal
Suncor ups offer to $6.6B CALGARY _ Suncor Energy has reached a friendly takeover deal with Canadian Oil Sands after bumping up its all share offer by 12 per cent. The company now is offering 0.28 of a Suncor (TSX:SU) share for each COS (TSX:COS) share, resulting in a $6.6-billion friendly deal between the two […]
Trans Mountain pipeline: Alberta urges NEB to OK project
Trans Mountain pipeline may mean higher value for Alberta oil EDMONTON _ Premier Rachel Notley says the proposed expansion of a pipeline to the B.C. coast is not just in Alberta’s best interests, but is the best thing for Canada as well. “Our government believes that this project is good for Albertans and good for […]
Connect
Connect with us on the following social media platforms.