• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn
Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Canadian oil producers move after Alberta orders output cuts

December 3, 201812:25 PM Reuters0 Comments

** Shares of Cenovus Energy Inc and Canadian Natural Resources Ltd up about 9 percent after Alberta mandates cuts in crude production

** Alberta government to force producers to cut output by 8.7 pct, or 325,000 barrels per day (bpd), until excess crude in storage is reduced

** In Oct, Western Canada Select (WCS) heavy blend hit a record at $52.50 below the West Texas Intermediate (WTI) benchmark due to oil glut

** CVE and CNQ have voluntarily curtailed production in recent weeks; CVE says it advocated the cuts which it believed were the only short-term solution to the supply-demand problem

** Imperial Oil Ltd down 3.8 percent, co says the supply cuts do not recognise investment decisions cos have made to access "higher-value targets"

** Shares of Husky Energy Inc and Suncor Energy Inc down marginally; Husky says cuts to have "serious negative investment, economic and trade consequences"

(Reporting by Shanti S Nair in Bengaluru)

Canadian Natural Resources Cenovus Husky Energy Imperial Oil Suncor

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Irving Oil lays off 60 workers from Saint John refinery, citing collapse in demand
  • Loss of Keystone XL pipeline expected to hurt future oilpatch growth
  • CAODC extremely disappointed with Biden Keystone XL decision
  • Connacher Oil and Gas Limited provides update and announces pipeline project
  • TC Energy to cut 1,000 construction jobs, halt Keystone XL work

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.