Tag: Canadian Oil

Timelines for Canadian pipelines could be shorter: Government

Timelines for Canadian pipelines could be shorter: Government

Federal government under pressure to speed up Canadian pipelines approval process By Andrea Hopkins KANANASKIS, Alberta, April 25 (Reuters) – The approval process for Canadian pipelines to export crude from the landlocked province of Alberta to the coast could be shorter, Natural Resources Minister Jim Carr said on Monday, in response to pressure to help get the […]

By April 25, 2016 0 Comments Read More →
Growth in Canadian oil production could come to ‘complete standstill,’ says report

Growth in Canadian oil production could come to ‘complete standstill,’ says report

Canadian oil production hampered by heightened environmental concerns, lack of pipelines CALGARY _Growth in Canadian oil production is likely to slow down or grind to a halt five years from now once projects now under construction are built, the International Energy Agency warns in a report released Monday. The Paris-based organization said it projects Canada […]

By February 22, 2016 0 Comments Read More →
Rig count down for seventh straight week

Rig count down for seventh straight week

Rig count down by 12 in Texas HOUSTON_On Friday, oilfield services company Baker Hughes reported another drop in the US and Canadian oil and gas rig count. This is the seventh consecutive week where fewer rigs were exploring for oil and gas in the United States. In total, there were 413 oil rigs operational in […]

By February 19, 2016 0 Comments Read More →
Penn West settles lawsuits over accounting errors, but admits no wrongdoing

Penn West settles lawsuits over accounting errors, but admits no wrongdoing

Penn West settlement will be fully funded by company’s insurance CALGARY _ Penn West Petroleum Ltd. has reached agreements to settle a bevy of class-action lawsuits stemming from accounting errors it discovered in 2014. The settlement in the Canadian and U.S. cases will be fully funded by the company’s insurance, meaning its cash resources and […]

By February 16, 2016 0 Comments Read More →
Canadian oil producers among the few who have cut production

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 […]

By February 5, 2016 0 Comments Read More →
Alberta oil industry meeting with PM: Encouraging, but no pipeline assurances

Alberta oil industry meeting with PM: Encouraging, but no pipeline assurances

Alberta oil industry reps met with Prime Minister Trudeau, Alberta Premier Notley CALGARY _The head of Suncor Energy says a meeting between major players in Canada’s oilpatch and Prime Minister Justin Trudeau was encouraging but there were no assurances on pipelines. Trudeau, federal Natural Resources Minister Jim Carr and Alberta Premier Rachel Notley took part […]

By February 4, 2016 0 Comments Read More →
Alberta oil industry providers meet with Canadian Prime Minister

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 […]

By February 4, 2016 0 Comments Read More →
Alberta royalty review: Oilsands rates remain the same

Alberta royalty review: Oilsands rates remain the same

Alberta royalty review says rates should also take into account drilling costs CALGARY _ Pent-up anxiety over changes to Alberta’s oil and gas royalties dissipated Friday after the provincial government revealed it’s keeping the status quo for oilsands players and simplifying the system for conventional oil and gas wells. A four-member panel led by Dave […]

By January 29, 2016 1 Comments Read More →
Baker Hughes rig count down by 14 in the US, up by 61 in Canada

Baker Hughes rig count down by 14 in the US, up by 61 in Canada

Rig count shows 39 new oil rigs in Canada HOUSTON _Natural gas and oil rig counts dropped for the second week in the United States while rig counts in Canada rose significantly for the second straight week. The Baker Hughes rig count shows the total number of oil rigs in the US is down by […]

By January 15, 2016 0 Comments Read More →
Ending US crude export ban good news for Canadian oil industry

Ending US crude export ban good news for Canadian oil industry

Lifting the crude export ban some regulatory burdens for Canadian producers CALGARY _ Experts see more good news than bad for Canada’s energy industry if the U.S. lifts its decades-old ban on oil exports. The ban came into force when oil shortages were commonplace 40 years ago, a stark contrast to today’s U.S. glut, thanks to fracking […]

By December 17, 2015 0 Comments Read More →