CALGARY, AB - Tenaz Energy Corp. ("Tenaz", "We", "Our", "Us" or the "Company") (TSX: TNZ) is pleased to announce the financial and operating results for the three and six months ended June 30, 2022 and approval from the Toronto Stock Exchange for our notice of intention to institute a Normal Course Issuer Bid ("NCIB"). We expect to commence share purchases on or after August 12, 2022. The unaudited interim condensed consolidated financial statements and related management's discussion and [Read more]
Headlines
Suncor shutting down portion of Colorado refinery
Suncor Energy Inc on Monday said it is shutting down a portion of its 103,000-barrel-per-day refinery in Commerce City, Colorado due to an equipment malfunction. The incident may cause "additional flames and smoke from the refinery flares today," the notification said. [Read more]
Prospera Energy Inc. Announces Q1 2022 Financial Results
CALGARY, Alberta, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Prospera Energy Inc. ("Prospera" or the "Corporation") (PEI: TSX-V; OF6B: FRA) is pleased to release its Q1 2022 financial and operating results. Selected financial and operational information outlined below should be read in conjunction with the Company’s financial statements and related management’s discussion and analysis for the quarter ended March 31, 2022. First Quarter 2022 Highlights: In the first quarter of 2022 PEI continued to [Read more]
Heavy crude discount inches wider
The discount on Canadian heavy crude versus the West Texas Intermediate (WTI) benchmark widened marginally on Friday. Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, last traded at $19.60 a barrel below WTI, according to NE2 Group, widening 10 cents from Thursday. Canadian benchmark heavy crude has traded within a tight range so far this month and remains under pressure from the release of sour barrels from the U.S. Strategic Petroleum [Read more]
Russia bans Western investors from selling banking, key energy stakes
Russia has banned investors from so-called unfriendly countries from selling shares in key energy projects and banks until the end of the year, stepping up pressure in the sanctions stand-off with the West. Western countries and allies, including Japan, have piled financial restrictions on Russia since it sent troops into Ukraine in late February. Moscow retaliated with obstacles for Western businesses and their allies leaving Russia, and in some cases seized their assets. The decree [Read more]
Suncor Energy interim CEO sees mandate for change after safety problems
The interim chief executive of Suncor Energy said on Friday that he has a mandate to change the oil-producing company's poor safety and operating performance, even as its board looks for a permanent CEO. "To be clear, as interim CEO, my mandate is not to simply maintain the status quo," Kris Smith said in his first public remarks to analysts since his appointment in July. He added later, on a quarterly conference call, that he plans to overhaul Suncor's processes while the board of [Read more]
U.S. natgas futures ease 1% on record output, less hot forecasts
U.S. natural gas futures eased about 1% on Friday, with output holding near record highs and forecasts for less hot weather and lower demand over the next two weeks than previously expected. Also weighing on prices was the ongoing outage at the Freeport liquefied natural gas (LNG) export plant in Texas, which has left more gas in the United States for utilities to rebuild extremely low stockpiles for next winter. That price decline came despite forecasts for the weather to remain hotter [Read more]
Oil languishes on recession fears; unconcerned stocks climb on
Oil languished near its lowest since the start of the war in Ukraine on Friday on fears of a global recession, though stocks ignored such worries, gaining ahead of U.S. jobs data that will give another clue to the health of the world's largest economy. West Texas Intermediate (WTI) crude was down a whisker at $87.75 a barrel, dropping 24 cents, or 0.27%, after both closed the previous session at their lowest levels since February. Benchmark Brent crude futures was at $93.70 a barrel, up 14 [Read more]
Suncor Energy reports second quarter 2022 results
Calgary, Alberta - "Driven by a strong business environment, Suncor (TSX: SU) (NYSE: SU) generated record adjusted funds from operations of approximately $5.3 billion, or $3.80 per common share, in the second quarter of 2022, as we executed planned maintenance across our asset base," said Kris Smith, interim president and chief executive officer. "Our confidence in our business and expected annual cash flows enabled us to return approximately $3.2 billion of value to our shareholders, which [Read more]
TC Energy inks deal with Mexican utility to develop $4.5 billion natural gas pipeline
TC Energy Corp said on Thursday it had struck a deal with a Mexican state utility to develop a $4.5 billion natural gas pipeline. The offshore Southeast Gateway Pipeline will supply natural gas to Mexico's central and southeast regions, the Canadian pipeline operator added. The deal with Comisión Federal de Electricidad (CFE) comes as Canada and the United States are having their most serious trade spat with Mexico over the United States-Mexico-Canada Agreement. TC Energy said [Read more]