• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

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

Alberta to end monthly oil production curbs in December

October 23, 20209:06 AM Reuters0 Comments

Alberta pumpjack in the winterAlberta will lift curbs on crude oil production at the start of December, allowing producers to use pipeline capacities and create jobs, the region’s energy minister Sonya Savage said on Friday.

The ruling comes a month ahead of the scheduled expiration of the restriction and at a time when the region’s economy is reeling under the impact of the coronavirus pandemic.

Nearly 16% of the crude production in the province, which is home to the world’s third-largest oil reserves, is currently offline. “Maintaining the stability and predictability of Alberta’s resource sector is vital for investor confidence as we navigate the economic conditions brought on by the pandemic, the commodity price crisis and the need for pipelines,” she said in a statement.

Alberta’s previous New Democratic Party government imposed production limits last year to drain a glut of oil in storage that built up due to congested pipelines.

Premier Jason Kenney’s United Conservative Party government has since then steadily eased curtailments as inventories drained.

The minister said on Friday that while the provincial government will extend its regulatory authority to curtail production through December 2021, it will not set production limits.

The province’s oil output dropped by as much as 880,000 barrels a day, or 22%, at the peak of the production cuts in response to an unprecedented drop in global fuel consumption, Savage had said last week.

(Reporting by Shradha Singh in Bengaluru; Editing by Arun Koyyur) 29dk2902l

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Canada’s weekly rig count up 18 to 113
  • InPlay Oil Corp. Announces Extension of Credit Facility
  • Highwood Asset Management Ltd. Announces 2022 First Quarter Financial And Operating Results Along With Operational Update
  • U.S. oil & gas rig count falls for first time in 31 weeks
  • Analysts say natural gas could go even higher after breaking 14-year record this week

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

    Report Error





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial 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
    © 2022 Grobes Media Inc.