SMITHERS, B.C. - Hereditary chiefs who oppose a natural gas pipeline in northern British Columbia say they will sign an agreement with the federal and provincial governments that affirms their title and rights. At the centre of the dispute is Wet'suwet'en opposition to the construction of the Coastal GasLink pipeline through their territory, which set off demonstrations and blockades that shut down large parts of the national economy in February. A joint statement from the governments and [Read more]

CALGARY - The Petroleum Services Association of Canada has revised its 2020 Canadian drilling forecast to an almost 50-year record low of 3,100 oil and gas wells, a level not seen since 2,900 wells were drilled in 1972. PSAC interim CEO Elizabeth Aquin says more than $7 billion of capital investment in the energy sector has been cancelled to date this year thanks to demand destruction from measures to deal with the COVID-19 pandemic and a supply surplus due to an oil price war between Russia [Read more]

EDMONTON - Premier Jason Kenney says a global oil glut means Alberta's main industry will be dealing with low prices for a year or longer after the COVID-19 pandemic abates. Kenney says reduced demand for oil and gas during the pandemic coupled with a destructive price war between Saudi Arabia and Russia has left the world awash in oil. He says supplies are so swamped, holding tanks are at the brim and tankers on the U.S. Gulf Coast can't unload. West Texas Intermediate, the benchmark [Read more]

CALGARY - Oilfield services companies in Alberta will be able to apply through an online portal starting May 1 for $1 billion in grants under the oilfield rehabilitation program announced by the federal government last week. Alberta Energy Minister Sonya Savage says the grant money will be doled out by her department in $100-million increments with an initial focus on service companies that have been most impacted by the current economic downturn. She says the grants will cover between 25 [Read more]

EDMONTON - Alberta's highest court has overturned regulatory approvals for a $440-million oilsands mine that would have encroached on land a local First Nation considers sacred. The Court of Appeal says the Alberta Energy Regulator's refusal to consider concerns from the Fort McKay First Nation violated the honour of the Crown. The band is surrounded on three sides by oilsands development and says the Moose Lake area in northern Alberta is the last place members can go to practice their [Read more]