Canadian oil prices expected to sink further as renewed supply floods market By Catherine Ngai CALGARY, Alberta, July 11 (Reuters) – Deeply discounted prices for heavy crude from the heart of Alberta’s oil sands look set to sink further, thanks to hundreds of thousands of barrels of new supply that will have difficulty finding space […]
Canadian oil meets tight pipe space, bottlenecks expected Read More »
Enbridge pipeline approval overturned by Federal Court of Appeal July 8 (Reuters) – The National Energy Board (NEB) said it suspended a review of Enbridge Inc’s request to extend its permit for the proposed Northern Gateway crude oil pipeline project. Calgary-based Enbridge had filed a request with the Canadian energy regulator in May for a
Enbridge request for pipeline permit extension suspended Read More »
Canadian equity issues uptick shows capital returning to Canada By John Tilak TORONTO, July 7 (Reuters) – Canadian equity issues picked up steam in the first half of the year after a period of sluggish activity as resource companies took advantage of a rebound in commodity prices to tap capital markets, Thomson Reuters data showed
Resource deals fuel Canadian equity issues rebound in first half of 2016 Read More »
Alberta wildfire forced evacuation of Fort McMurray By Catherine Ngai CALGARY, July 7 (Reuters) – Insured losses from the May wildfires in Fort McMurray, Alberta, are expected to total C$3.58 billion ($2.76 billion), making it the costliest-ever Canadian natural disaster, an insurance industry group said on Thursday. The losses far exceed those from the Alberta
Alberta wildfire Canada’s costliest disaster at C$3.58 billion Read More »
Price of WTI is expected to rise to about $55/bbl in 2017, which will provide an additional boost to growth in Canada TORONTO, ON– The United Kingdom’s decision to leave the European Union represents a major economic shock to the UK and Europe, according to Scotiabank’s Economics’ Global Outlook. It will lower business and household
Another year, another setback for Canada – Scotiabank global economic outlook Read More »
Seven Generations Energy deal for assets in Musreau/Kawka area July 6 (Reuters) – Canadian oil producer Paramount Resources Ltd agreed to sell some of its Deep Basin oil and gas properties in Alberta to Seven Generations Energy Ltd for about C$1.9 billion ($1.47 billion). The divestiture is the latest example of struggling oil and gas
Seven Generations to buy some Deep Basin assets from Paramount Read More »
Trudeau promised no tankers along coast of northern BC, making Northern Gateway unfeasible By Allison Lampert MONTREAL, July 5 (Reuters) – Canadian Prime Minister Justin Trudeau on Tuesday reiterated his opposition to the route of Enbridge Inc’s Northern Gateway oil pipeline, casting further doubt on the prospects of a project fiercely opposed by environmentalists. Canada’s
Trudeau reiterates opposition to Northern Gateway pipeline route Read More »
Helium production upswing in Alberta, Saskatchewan By Rod Nickel MANKOTA, Saskatchewan, June 30 (Reuters) – An approaching squeeze in U.S. helium supplies has producers of the gas, used in everything from party balloons to magnetic resonance imaging (MRI) machines, looking north to Canada’s wheat fields. Almost three quarters of U.S. helium demand is filled by an underground
Helium production eyed in Canada as U.S. reserve shrinks Read More »
Stephen Harper gov’t approved Northern Gateway in 2014 By Julie Gordon VANCOUVER, June 30 (Reuters) – A Canadian court has overturned the approval of Enbridge Inc’s Northern Gateway oil pipeline, again delaying a project fiercely opposed by environmentalists and many aboriginal groups. The Federal Court of Appeal ruled in a 2-to-1 decision released on Thursday that
Northern Gateway approval overturned by Federal Court of Appeal Read More »
Husky Sunrise oil sands shut down in May due to wildfire CALGARY, Alberta, June 30 (Reuters) – Husky Energy’s Sunrise oil sands operations in northern Alberta are back to normal after the project shut down last month because of wildfires in the region, a company spokesman said on Thursday. Sunrise is a 60,000 barrel per day
Husky Sunrise oil sands operations are back to normal Read More »
