Throughout 2021, it was a news-worthy year for both the Canadian and international oil and gas sector, most importantly as it has recovered from historic price crashes the onset of COVID-19 to a bounce-back in prices with a strong demand for oil and gas services and products. As vaccine rollout has helped the fight against the pandemic, people were able to see life get back to a sense of normalcy, therefore, they needed oil and gas to jettison them around the world, and within their [Read more]
Oil prices rise but Omicron worries linger
Oil prices rebounded on Tuesday after a sharp fall in the previous session as investors' appetite for risk improved, although they remained cautious amid the rapid spread of the Omicron coronavirus variant across the globe. U.S. West Texas Intermediate (WTI) crude rose 99 cents, or 1.42%, to $70.22 a barrel. Brent crude was up 85 cents, or 1.18%, at $72.92 a barrel. "After a rough couple of days, crude prices are rebounding as much of the COVID wall of worry has been priced in," said Edward [Read more]
B.C. floods impacting millions
The ongoing effect and impact of the flooding in B.C. is having major implications for both the province and country, seeing the province under a state of emergency. Caused by heavy rain and severe flooding, the catastrophic damage also wiped out a large stretch of the Trans Canada highway and railway, with the highway still closed between Abbotsford and Chilliwack, with highways 3,7, and 99 open. Rail is facing its own troubles, too, as CN has had to halt some of its freight traffic due to [Read more]
Optimism abound for Alberta’s oil and gas sector
As oil prices have rebounded better than forecasted and predicted, the sector is turning in solid profits, with Premier Jason Kenney urging producers to flip those profits into project spending and jobs. These price rebounds and increases are music to Alberta’s ears and a welcome sight, and it's a sign of growing optimism within the province and its main economic driver, and has people wondering if we are on the verge of another oil boom? Kenney is also trying to toe the line with producers [Read more]
BOE Report’s most popular summer and fall reads
Throughout the summer and into fall, we have seen some interesting stories and news come across our desk. Below were some of the most popular reads, what the story was about, and what is the current state of the players at hand. The top-performing post was a column titled Canada & the U.S at risk of an energy crisis -OPEC & energy security: in which our columnist Maureen McCall sat down for a sobering conversation with Dan McTeague, President of Canadians for Affordable Energy, energy [Read more]
Delta CleanTech capturing sustainability through innovative technology
With Canada having ambitious goals for reducing its emissions – 30 per cent by 2030, the need for carbon capture utilization has come to the forefront. One Calgary company is seeing its technology in high demand as the country recognizes the importance of reducing emissions. Operating since 2004, Delta CleanTech has commercial and cost-effective CO2 carbon capture technologies which have been meticulously engineered and crafted to help reduce capital and operating costs and has been involved [Read more]
Unpacking oil subsidies in Canada
Recently, Jagmeet Singh, NDP leader vowed he would end subsidies given to oil and gas companies if the NDP wins the upcoming federal election, directing that money to renewable energy. Via Investopedia, a subsidy is a benefit given to an individual, business, or institution, normally from government. It brings to question, do Canadian oil and gas companies receive subsidies from their government, and how much? In April, a report released by Environmental Defence stated the government provided [Read more]
Coal powered Teslas?
Even in the face of renewable energy and sustainable oil and gas, one has to wonder how green natural gas and its cohorts really are compared to other fuel sources and sources of energy. Technologies and innovations are helping renewables such as wind, solar, and natural gas see a larger market presence, and the hope is they can provide energy and power for planet as it makes a shift from fossil fuel consumption. Natural gas does help to diversify the energy mix and provide more options for [Read more]
MEG Energy making contribution to the Pathways to Net Zero Initiative
In June, MEG Energy, Canadian Natural Resources, Cenovus Energy Inc., Imperial, and Suncor Energy joined forces in forming the Oil Sands Pathway to Net Zero initiative. The goal of this alliance, by working closely with the federal and Alberta governments, is to achieve net zero greenhouse gas emissions (GHG) from oil sands operations by 2050 to help Canada meet its stated climate goals. This unprecedented alliance will heavily focus on a carbon capture, utilization, and storage (CCUS) [Read more]
Alberta in good position with hydrogen
Long known for its abundance of natural resources that have fuelled its economy, both literally and figuratively, for decades, Alberta has found itself in an advantageous position with regard to hydrogen and natural gas. Hydrogen is the most abundant element in the world and is making a name for itself and providing the province with an opportunity to supply a clean and responsibly sourced natural gas in a world with increasing momentum towards a low carbon future. The province is making [Read more]
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