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]