CALGARY - The CEO of the under-construction Woodfibre LNG project in British Columbia says Ottawa's push to market Canada as a reliable energy supplier is starting to come to fruition. Luke Schauerte made his remarks in an interview on the sidelines of the Global Energy Show in Calgary, and shortly after another B.C. LNG project in development, Ksi Lisims, signed preliminary supply deals with German utilities. He says the global LNG market is sophisticated and complex, allowing for [Read more]
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Bank of Canada holds key rate steady in fifth consecutive decision
OTTAWA - The Bank of Canada held its benchmark interest rate steady for a fifth consecutive decision on Wednesday as it tries to support a turbulent economy without letting prices rise unchecked. The central bank’s policy rate remains at 2.25 per cent after the hold, which was widely expected by economists. Bank of Canada governor Tiff Macklem said in prepared remarks that the economy was weaker than expected in the first quarter of the year as U.S. trade policy and the war in Iran spur [Read more]
US crude stocks fall sharply as refiners crank up activity, EIA says
U.S. crude stocks fell sharply last week as refiners continued to boost activity to fill supply gaps caused by the Iran war, the Energy Information Administration said on Wednesday. Crude inventories fell by 7.2 million barrels to 426.5 million barrels in the week ended June 5, the EIA said, compared with analysts' expectations in a Reuters poll for a 4 million-barrel draw. U.S. crude inventories, including those from strategic reserves, have fallen by 79 million barrels since the Iran war [Read more]
Some things never change
If you find the idea of stuffing your head full of useless trivia to be appealing, you’re going to like this one: In the 1830s in the United States, some two hundred years ago, almost 30 percent of American GDP was expended on firewood. Think about that. Almost one in every three dollars went towards material to burn for heat and cooking and the basic industries of the day. A further 40 to 50 percent of US GDP went to food, another staggering statistic considering that restaurants were not [Read more]
Trump says Iran has taken too long to negotiate, will ‘pay the price’
U.S. President Donald Trump on Wednesday said Tehran has taken too long to negotiate a deal and would now "have to pay the price" after Iran and the United States exchanged strikes in the region amid reported efforts to continue talks. "Iran is all talk and no action," Trump wrote in a social media post. "They’ve taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!" Trump, in a separate interview with Fox News, said he was getting close [Read more]
US working to release energy reserves, boost sales of gas to ASEAN
The United States is seeking to release some of its strategic energy reserves and boost sales of liquefied petroleum gas and liquefied natural gas to ASEAN, U.S. Deputy Secretary of State Christopher Landau said on Wednesday. "The current energy crisis has clearly outlined the need for countries to diversify energy resources, and the United States wants to work with you to help ASEAN member states not only navigate the current situation, but also to support long-term energy security and [Read more]
CSV Midstream Solutions Announces Proposed Fractionation Facility in Alberta’s Industrial Heartland
CSV targets 2029 startup for 35,000 barrel-per-day facility in Fort Saskatchewan CALGARY, AB, June 9, 2026 /CNW/ - CSV Midstream Solutions Corp. (CSV) announced today its plans to build a fractionation facility in Alberta's Industrial Heartland in Fort Saskatchewan, targeting startup in 2029, with a final investment decision (FID) expected by early 2027, subject to regulatory approval. In this designated industrial area with existing pipeline infrastructure and established [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Jun. 8 Local Sour Gas Plant Operator Roska DBO Grande Prairie Jun. 8 Pipeline Labourers MPI Oilfield LP. Bonnyville Jun. 5 Rail Operator (7/7 Shift) Roska [Read more]
Discount on Western Canada Select narrows again
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures narrowed again on Tuesday. WCS for July delivery in Hardisty, Alberta, settled at $11.80 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $12 a barrel on Monday. * The WCS differential, which has been volatile with global crude price swings since the start of the U.S.-Iran conflict, has compressed as WTI has come down from recent months' highs, said Al [Read more]
API shows US crude inventories fell for two straight months, sources say
U.S. crude oil inventories fell last week for an eighth consecutive week, according to market sources citing data from the American Petroleum Institute released on Tuesday, while gasoline stocks also declined. Crude stocks fell by 9.12 million barrels in the week ended June 5, the sources said on condition of anonymity. Gasoline inventories fell by 1.19 million barrels, while distillate inventories rose by 1.32 million barrels compared with a week earlier, the sources said. (Reporting [Read more]
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