International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 85,800 IPC common shares (ISIN: CA46016U1084) during the period of December 19 to 30, 2022 under IPC’s normal course issuer bid / share repurchase program (NCIB). IPC’s NCIB, announced on December 1, 2022, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 [Read more]
Headlines
U.S. natgas hits 10-month lows in its roller-coaster year’s closing day
U.S. natural gas futures on Friday slipped to a 10-month low on forecasts for warmer weather, yet the year's hot-commodity was poised for its third consecutive annual rise as supply disruptions due to Russia-Ukraine war sent tremors across global gas markets. The contract has added about 20% so far in what has been tipped as the most volatile year for the commodity, having surpassed the $10 per million British thermal units (mmBtu) level for the first time in 14 years. Prices halved since [Read more]
U.S. holds sale of drilling rights off Alaska coast
The Biden administration on Friday will hold a sale of oil and gas drilling rights off the coast of Alaska, the first federal auction in the region in more than five years. The sale of nearly 1 million acres in the Cook Inlet is among the concessions to the oil and gas sector included in President Joe Biden's signature climate change law, the Inflation Reduction Act (IRA). Under the law, the Interior Department is required to hold the sale by Dec. 31. The agency had scrapped the Cook Inlet [Read more]
TC Energy restarts Keystone pipeline extension after oil leak repairs
CALGARY - TC Energy Corp. says it has restarted the southern extension of its Keystone pipeline after repairing a Dec. 7 leak that led to the worst oil spill in the pipeline's history. The Calgary-based company says it will operate the pipeline under plans approved by U.S. regulators, including additional safety measures such as reduced operating pressure. TC Energy restarted most of the 4,324-kilometre Keystone pipeline system on Dec. 14, while the 154-km Cushing Extension, running from [Read more]
U.S. natgas at 9-month low on less cold weather outlook; storage report awaited
U.S. natural gas futures fell more than 3% to a fresh nine-month low on Thursday on forecasts for warmer weather for the next two weeks than previously expected. The price drop came ahead of a federal report that is expected to show a much bigger-than-usual storage draw last week as a winter storm that swept across large parts of the country raised heating demand for the fuel. Analysts forecast U.S. utilities pulled 201 billion cubic feet (bcf) of natural gas from storage during the week [Read more]
Suncor says extreme weather and fires forced shutdown of Colorado refinery
CALGARY - Suncor Energy Inc. says its Colorado refinery is offline following mutliple fires and it expects it to be out of commission until late March. The company says the 98,000-barrel-a-day Commerce City refinery was damaged by the extreme and record-setting weather that swept across large parts of the continent, leading it to initiate a shutdown of the refinery on Dec. 24. Notifications from the company show early damage included a pump fire on Dec. 19, while alarms were triggered on [Read more]
Canadian Spirit Resources Inc. Resumes Production at Farrell Creek, Northeast British Columbia
CALGARY, Alberta, Dec. 28, 2022 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. (“CSRI” or the “Corporation” (TSXV:SPI) (OTCBB:CSPUF) is pleased to announce that production from its joint venture Montney wells at Farrell Creek/Altares was restarted on December 16, 2022. The Farrell Creek natural gas processing facility and associated Montney wells experienced a shut down related to cold weather on November 9, 2022. Current average production is approximately 5.0 Mmcf/d with CSRI’s 35% [Read more]
Suncor Energy Provides Update on Commerce City Refinery
Calgary, Alberta--(Newsfile Corp. - December 28, 2022) - Suncor Energy (TSX: SU) (NYSE: SU) today provided an update related to its Commerce City refinery. Due to the extreme and record-setting weather impacting much of the United States, including Denver, Colorado, Suncor's Commerce City refinery experienced equipment damage in the days leading up to December 24th, 2022. Consistent with our operational excellence and safe operating practice, on December 24th it was determined that the entire [Read more]
Two injured by fire at Suncor’s Colorado refinery
Two people were injured by a weekend fire at Suncor Energy's 103,000 barrel-per-day Commerce City, Colorado, refinery, the company said. "We immediately initiated our response plan and evacuated all non-essential personnel from the area. The fire was extinguished, and everyone has been accounted for," Suncor said in a statement dated Dec. 24, the day of the fire. Suncor said on Tuesday that the incident occurred during the shut-down of Plant 2, which began on Saturday, Dec. 24, and is in [Read more]
U.S. oil refiners restoring lost output, some outages to run into January
U.S. oil refiners on Tuesday were working feverishly to resume operations at a dozen facilities knocked offline by a holiday deep freeze, a recovery that in some cases will stretch into January. An Arctic blast sent temperatures well below freezing and led to power, instrumentation and steam losses at facilities along the U.S. Gulf Coast. The affected plants process about 3.58 million barrels of oil per day, delivering about 20% of U.S. motor fuels. Refiners had been running near full [Read more]