CALGARY - About 400 jobs are expected to disappear at Suncor Energy Inc.'s oilsands mines in northern Alberta as it deploys driverless ore-hauling trucks to replace the ones humans operate now. "We have about 500 roles that will get eliminated through this and we're going to add about 100. So the net change in our workforce is about 400 positions," chief operating officer Mark Little said in an interview Wednesday. The company has been testing the 400-tonne capacity Komatsu [Read more]
Archives for January 2018
Magellan Midstream Extends Open Season for Proposed Crude Oil Pipeline from the Permian and Eagle Ford Basins to Corpus Christi and Houston
TULSA, Okla., Jan. 31, 2018 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) announced today an extension of the open season to solicit commitments from shippers for a new pipeline to transport various grades of crude oil and condensate from the Permian and Eagle Ford Basins to multiple destinations in the Corpus Christi and Houston, Texas markets, including Magellan's existing crude oil terminals in these markets. Binding commitments are now due by 5:00 p.m. Central Time on March [Read more]
OPEC vs. US shale, where do oil prices go?
In a perfect Goldilocks world there would be a perfect price; not too hot ($80 per bbl), not too cold ($40 per bbl) but just right ($60 per bbl). We all know that forecasting price is a fool’s game and most prognostications become obsolete the moment they are written. Why? Because the production of oil and gas does not operate in an unfettered universe where instantaneous production and demand are in sync. Part of the reason for is because of varying project timelines from long lead times [Read more]
Calgary Seminar: US tax reform is here – is now the time to give up your US citizenship?
Complimentary seminar presented by: Alexander Marino JD, LLM (US TAX) On Dec. 22, 2017, President Trump signed into law the biggest US tax reform bill in 31 years, changing the lives of Americans at home and abroad. Many US residents will see an immediate benefit on their 2018 tax return, but for US expats and green card holders living in Canada, things may have changed for the worse. The question of whether now is the right time to renounce your US citizenship is never more prescient. If [Read more]
WildHorse Resource Development Corporation Announces Dividend on Series A Perpetual Convertible Preferred Stock
HOUSTON--(BUSINESS WIRE)--WildHorse Resource Development Corporation (NYSE:WRD) today announced an aggregate quarterly dividend of $6.656 million on its 435,000 shares of 6.0% Series A Perpetual Convertible Preferred Stock. The dividend was paid by an automatic increase to the accreted value of each such share of Series A Perpetual Convertible Preferred Stock, which were issued with an initial accreted value of $1,000. The dividend is for the period [Read more]
Oil could struggle to top $70 as U.S. output offsets OPEC cuts
(Reuters) - Oil prices are unlikely to advance much higher than $70 a barrel in 2018, with the market caught between the opposing forces of OPEC-led production cuts and surging U.S. output, a Reuters poll showed on Wednesday. The survey of 34 economists and analysts forecast that Brent crude will average $62.37 a barrel in 2018, up from the $59.88 forecast in the previous monthly poll. “Steady demand growth, a clear commitment to supply restraint by key OPEC producer Saudi Arabia and [Read more]
Fastest Access to Energy Resources – in Any Soil Condition.
Access to Energy Resources Is Never Easy. Energy sites are often located in remote and difficult to access locations with undeveloped roads, poor soil conditions and limited road building resources—and in environments with extreme temperatures and weather conditions. For over 35 years, energy companies have relied on Presto’s GEOWEB® 3D soil confinement system for building access roads and pads year round to their oil & gas, wind and mining sites—even in some of the toughest site and [Read more]
Canadian drillers moving rigs south to chase better prospects in Texas oilfields
CALGARY - A growing number of Canadian drilling rigs are being moved south of the border to take advantage of brighter prospects for oil and gas in the United States — and observers say it's unlikely they will ever return home. A week ago, Calgary-based Akita Drilling Ltd. announced it would enter the U.S. market by moving a rig from Western Canada into the prolific Permian Basin in West Texas. It said it is looking at moving more rigs south. Meanwhile, Calgary-based Trinidad [Read more]
Oil falls for second day on stock market selloff, supply concerns
HOUSTON (Reuters) - Oil prices dipped for a second straight day on Tuesday, driven by ongoing evidence of rising U.S. crude output, while wary investors sold off stocks, bonds and commodities. Brent crude futures for March delivery settled down 44 cents, or 0.6 percent, at $69.02 a barrel after touching a session low of $68.40. U.S. West Texas Intermediate futures fell $1.06, or 1.6 percent, to close at $64.50 a barrel. Futures traded weaker in post-settlement trading after weekly [Read more]
Suncor phasing in 150 autonomous haul trucks, job cuts expected by 2019
CALGARY - Suncor Energy Inc. says over the next six years it expects to deploy more than 150 electric autonomous haul trucks at its company operated-mines — a move expected to decrease its equipment operator positions as early as 2019. The Calgary-based oil and gas firm says it will continue to work with the union on strategies to minimize workforce impacts, with phased implementation to start at its North Steepbank mine. The company says the implementation of AHS will change [Read more]
- « Previous Page
- 1
- 2
- 3
- 4
- …
- 32
- Next Page »