CNRL expects free cash flow of $670 million, nearly double earlier forecast June 15 (Reuters) – Oil producer CNRL sharply raised its cash-flow forecast for the year as it gains from a rally in crude oil prices. Canadian Natural Resources Ltd said on Wednesday that it now expected free cash flow of C$670 million ($519 […]
CNRL sharply raises cash flow forecast for 2016 Read More »
Fort McMurray wildfire forced evacuation of 90,000 people CALGARY, Alberta, June 14 (Reuters) – The Fort McMurray wildfire in northern Alberta that forced the evacuation of 90,000 residents and shut in more than a million barrels per day of oil output was most likely caused by human activity, the Royal Canadian Mounted Police (RCMP) said on Tuesday.
Fort McMurray wildfire likely caused by humans: RCMP Read More »
ConocoPhillips leak near Grande Cache By Nia Williams June 14 (Reuters) – A ConocoPhillips pipeline has leaked nearly 2,400 barrels of condensate, an ultra-light form of oil, within an endangered caribou and grizzly bear range in west-central Alberta, the company said on Tuesday. The Alberta Energy Regulator (AER) issued an environmental protection order to the
ConocoPhillips pipe spills oil condensate near Alberta caribou range Read More »
TransCanada joint venture with IEnova By Julie Gordon June 13 (Reuters) – TransCanada Corp said it would build and operate a $2.1 billion natural gas pipeline in Mexico, as the Canadian company ramps up in the Latin American country at a time when its key projects closer to home are facing delays. TransCanada said on
TransCanada JV wins $2.1 bln gas pipeline contract in Mexico Read More »
Canada coping well with low oil prices, but needs to pursue monetary policy mix WASHINGTON, June 13 (Reuters) – The International Monetary Fund said on Monday that Canada is coping well with low oil prices and weaker growth, but needs to pursue a fiscal and monetary policy mix that supports near-term output. In a statement following
IMF says Canada needs fiscal support to counteract low oil prices Read More »
CNRL, Cenovus evacuated workers on Wednesday CALGARY, Alberta, June 9 (Reuters) – Canadian Natural Resources Ltd and Cenovus Energysaid they restarted operations at two oil sands facilities in the Wabasca region of northern Alberta on Thursday after a wildfire threat dissipated. The companies shut their Pelican Lake projects and evacuated workers as a blaze that
CNRL, Cenovus resume Pelican Lake operations after wildfire threat Read More »
Fort McMurray wildfire “unprecedented for the industry”: Insurance Bureau of Canada By Eric M. Johnson and Nia Williams CALGARY, Alberta, June 9 (Reuters) – Two days after the Fort McMurray wildfire turned Bruce Thompson’s mobile home into a pile of ash and rubble, he called his insurer to report the damage, despondent as he discussed
Fort McMurray wildfire victims feel insurance squeeze amid clean up Read More »
Baytex Energy shut down low margin heavy oil last June By Nia Williams CALGARY, Alberta, June 8 (Reuters) – Baytex Energy Corp has restarted nearly all the heavy crude output it shut last year, encouraged by the months-long rally in oil prices, a source familiar with the matter said on Wednesday. It is among the first
Baytex Energy restarts idled wells as prices rise Read More »
Suncor looks to increase stake in Syncrude project TORONTO, June 7 (Reuters) – Suncor Energy Inc said it would raise $2.5 billion (US$2 billion) through the sale of new shares to enable it to increase its stake in its Syncrude oil sands joint venture and to fund other possible acquisitions. The company said it would sell
Suncor Energy to raise C$2.5 billion to fund possible purchases Read More »
The company will focus on three key basins: the Mid-Continent Basin, Permian Basin and Denver-Julesburg Basin Canada Pension Plan Investment Board (CPPIB) announced today that its wholly owned affiliates committed US$450 million to LongPoint Minerals, LLC, a company focused on the acquisition of oil and natural gas mineral and royalty interests in the U.S. The CPPIB is
Canada Pension Plan commits $450M to U.S. mineral, energy royalty sector Read More »
