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

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

Alberta to end monthly oil production curbs in December

October 23, 20209:06 AM Reuters0 Comments

Alberta 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
Latest Headlines
  • Calima Energy Limited announces merger with Blackspur Oil Corp
  • Advantage Announces Revised 2021 Guidance, 2020 Year-End Results, and Reserves Highlights
  • Razor Energy Corp. Announces 2020 Year-End Reserves and Operational Outlook
  • Pembina Pipeline Corporation announces share repurchase program
  • Alberta sees budget deficit narrowing to C$18 bln as oil prices recover

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





    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
    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.