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Canadians join lawsuit to overturn opening Alaska wilderness to energy drilling

August 24, 202011:43 AM The Canadian Press0 Comments

Canadian First Nations and environmentalists have joined a U.S. lawsuit aimed at overturning a decision that opens an Alaska wilderness to oil and gas exploration. The Gwich'In Tribal Council, which represents people in five communities in the Northwest Territories and Yukon, is now part of the lawsuit that was filed in an Alaskan court today. The Canadian Parks and Wilderness Society has also signed onto the lawsuit, which names the U.S. Department of the Interior and the U.S. Fish and [Read more]

Crude-by-rail shipments drop to 8-year low in June, one-tenth of February record

August 21, 20202:57 PM The Canadian Press0 Comments

crude oil rail cars

CALGARY - Canadian exports of crude oil by rail fell to an eight-year low in June as North American fuel demand remained low due to measures taken to control the COVID-19 pandemic. The Canada Energy Regulator says rail shipments of oil in June fell to about 42,820 barrels per day, down from 58,000 bpd in May and 156,000 bpd in April. Shipments were 10 times as high in February, when they reached a record high of 412,000 bpd. Rail transportation of crude oil is considered to be more [Read more]

Canada Energy Regulator forecasts 6.6% drop in Canadian oil production this year

August 19, 20207:37 AM The Canadian Press0 Comments

CALGARY - The Canada Energy Regulator says its expects oil production in Canada will average 4.38 million barrels per day this year, down by 6.6 per cent compared with 2019. The federal regulator says it expects oil production to gradually recover over the balance of 2020 after producers halted what analysts estimate was as much as one million bpd at times due to low prices during the COVID-19 pandemic economic slowdown. The average production in Canada in 2019 was 4.69 million bpd, up [Read more]

Paramount demands cash for its stake in Strath Resources after merger announced

August 17, 202010:43 AM The Canadian Press0 Comments

Paramount Resources Ltd. logo

CALGARY - Oil and gas company Paramount Resources Ltd. is demanding a cash payout for its shares in Strath Resources Ltd. when it is merged with another private firm. Calgary-based Paramount says neither the amalgamation nor the process followed were in the best interests of Strath and its shareholders and it is exercising its "right of dissent" under the Alberta Business Corporations Act to be bought out for fair value. It didn't specify a price. In 2018, Strath bought Paramount's oil and [Read more]

Cona Resources Paramount Resources

2020’s crude price crash offers a bright spot for natural gas producers

August 17, 20207:45 AM The Canadian Press0 Comments

CALGARY - Veteran oilman Mike Rose says he doesn't want to "jinx it," but he admits it's not so bad heading the company that last year became the biggest producer of natural gas in Canada. While many oil companies have curtailed production and chopped capital budgets to deal with a massive drop in demand for crude this year, Tourmaline Oil Corp. has been buying assets, running a fleet of 10 drilling rigs and reporting production at the high end of guidance. "On the oil side, that's where [Read more]

ARC Resources Canadian Natural Resources Chinook Energy Painted Pony Energy Tourmaline

Work at Suncor’s Fort McMurray base plant affected until September due to fire

August 17, 20207:24 AM The Canadian Press0 Comments

Suncor Energy logo

CALGARY - Suncor Energy Inc. says it will be early September before mined bitumen production resumes at its base plant mining operation in Fort McMurray, Alta. The Calgary-based company has released an update on operations at the plant in the wake of a fire in the extraction area of the plant on Aug. 14. Suncor says the fire was contained quickly, extinguished several hours later and no one was hurt. It says regulators have been notified and maintenance planned for the third quarter has [Read more]

Suncor

Energy firm charged with hindering Alberta Energy Regulator facility inspections

August 13, 20201:14 PM The Canadian Press0 Comments

CALGARY - The Alberta Energy Regulator says it has laid charges against Land Petroleum International Inc. and president Bill Fung for hindering AER inspections in 2018. The provincial regulator says eight charges have been jointly laid against the company and Fung under the Oil and Gas Conservation Act, which provides for penalties of up to $500,000 in fines for a company and $50,000 for an individual. It says the charges are related to facility inspections near Ponoka in central Alberta [Read more]

Bonavista to be delisted from exchange after completing shares-for-debt deal

August 12, 202011:35 AM The Canadian Press0 Comments

CALGARY - Bonavista Energy Corp. says it has completed a recapitalization plan that will result in a nickel-per-share payout for its shareholders and its delisting from the Toronto Stock Exchange. CEO Jason Skehar says the transaction removes crippling debt and means the oil and gas producer will be able to "pledge sustainability" in almost any commodity price environment. Bonavista announced in June an agreement with lenders that would eliminate about half of its outstanding debt but [Read more]

Bonavista Energy

Alberta to join other provinces in exploring small nuclear technology

August 7, 202010:47 AM The Canadian Press0 Comments

Nuclear power plant

EDMONTON - The Alberta government says it plans to join three other provinces in exploring small-scale nuclear technology. New Brunswick, Saskatchewan and Ontario signed a memorandum of understanding in December regarding development of small modular reactors. Alberta says in a news release that it will also enter into the agreement to help diversify its energy sector. All four provinces oppose the federally mandated carbon tax on pollution. Alberta says small modular reactors, or [Read more]

Canada’s federal energy regulator names Indigenous advisory committee

August 7, 20202:00 AM The Canadian Press0 Comments

OTTAWA - Canada's energy regulator has named a new advisory committee that aims to change how it interacts with Indigenous Peoples in Canada. The Indigenous advisory committee, which includes eight First Nations and Metis individuals from across Canada, is part of legislation the Liberals brought in last year to impose new rules for environmental assessments. Cassie Doyle, chair of the Canada Energy Regulator's board of directors, says the committee will not deal with specific projects or [Read more]

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