CALGARY - Alberta's UCP government says it will end oil curtailment quotas in December, nearly two years after the previous NDP government introduced them to support oil prices. The province says it will extend its regulatory authority to continue the program for another year but doesn't plan to use it after the end of November. It says the monthly curtailments are no longer necessary because 16 per cent of Alberta’s crude oil production is offline, down from 22 per cent at the start of [Read more]
Ottawa provides $100 million to research ways to cut GHG emissions in oil and gas
CALGARY - The federal government says it will provide $100 million from its strategic innovation fund over four years to accelerate the development and use of technologies to lower the oil and gas industry’s environmental impact. Innovation, Science and Economic Development Canada says the money will be provided to the Clean Resource Innovation Network, a 1,700-member consortium of companies, not-for-profit organizations, government departments and agencies, researchers, academic institutions [Read more]
Western Canadian oil output still down after restoring some COVID cutbacks, CER says
CALGARY - The Canada Energy Regulator says most, but not all, western Canadian oil production has been restored after being cut because of low prices amid the COVID-19 pandemic. The national agency says western Canadian oil supply had slipped by as much as 972,000 barrels per day by mid-May as demand fell due to pandemic lockdowns and global supply grew because of more output from a loose coalition of other oil-producing countries. CER says Western Canadian producers had brought back [Read more]
Alberta welcomes federal approval of gas pipeline expansion while criticizing delay
CALGARY - The Alberta government is welcoming news that Ottawa has approved an expansion of the Nova Gas Transmission Ltd. gathering system in Alberta — while condemning federal delays that it says cost this summer's construction season. Federal Natural Resources Minister Seamus O’Regan says the $2.3-billion expansion was approved by the government as part of a "commitment to moving forward with good projects." In a release, he says the federal government strengthened five conditions [Read more]
Alberta cuts deal on municipal oilpatch levies; not on unpaid property taxes
EDMONTON - Alberta has announced a three-year deal that it says will prevent municipal taxes and levies from harming its already battered energy industry. But the deal leaves unresolved the issue of rural property taxes that some companies have refused to pay — taxes that totalled $173 million by last January. Municipal Affairs Minister Tracy Allard says the industry will get a three-year break on property taxes for new wells, pipelines and new equipment. The province will also lower [Read more]
Oil price stall, global uncertainty prompt caution as oil firms roll out Q3 reports
CALGARY - Higher oil prices are expected to bolster returns as Canadian energy companies report third-quarter results over the next few weeks but observers say a recent stall in the crude price recovery and ongoing oil market uncertainty make any increases in production and spending plans unlikely. Oil prices stabilized in the third quarter with U.S. benchmark West Texas Intermediate crude selling for an average of US$40.85 per barrel. That's up 44 per cent or US$12.48 per barrel from a [Read more]
Saskatchewan’s Scott Moe concerned about Biden’s opposition to Keystone XL
SASKATOON - Saskatchewan Party Leader Scott Moe says if the Democrats win next month's U.S. election, he has concerns about the future of the Keystone XL pipeline. Moe is himself running for re-election on Oct. 26 and, while on the campaign trail, weighed in on comments about the project made by presidential candidate Joe Biden. Biden has promised to kill the 2,000-kilometre pipeline, which would carry up to 830,000 barrels a day of crude oil from Alberta to Nebraska and travel through [Read more]
AltaGas agrees to pay $715 million to double stake in midstream firm Petrogas
CALGARY - AltaGas Ltd. says it has agreed to pay $715 million in cash to privately held SAM Holdings Ltd. to double its ownership share in oil and gas liquids handling firm Petrogas Energy Corp. to 74 per cent. Calgary-based AltaGas bought a one-third interest in Petrogas for about $440 million in 2013 as part of a transaction that allowed joint venture partner Tokyo-based Idemitsu Kosan Co., Ltd., to also acquire a one-third share. It says Idemitsu Kosan will own about 26 per cent of [Read more]
Alberta premier says he’s still hopeful about Keystone, even if Biden elected
Alberta Premier Jason Kenney says he is still hopeful about the future of the Keystone XL pipeline, even if the Democrats win the White House next month. Democratic candidate Joe Biden has promised to kill the project if elected president, but Kenney says his government has been speaking with officials on both sides of the aisle in the U.S. TC Energy has approved construction of the US$8-billion project to transport up to 830,000 barrels a day of oil from Alberta to Nebraska. The [Read more]
Workers at Newfoundland oil refinery meet amid fears over facility’s future
COME BY CHANCE, N.L. - Workers at an oil refinery in Come by Chance, N.L., are meeting this morning under a cloud of uncertainty. Those heading into a meeting at the sprawling facility say they aren't sure what to expect about their jobs or the future of the refinery. In a tweet sent Monday night, Newfoundland and Labrador premier Andrew Furey said he recognizes that these are difficult, uncertain times for the refinery workers. He said discussions about the facility's future are [Read more]
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