CALGARY, AB - Gibson Energy Inc. announced today that it has received the top "AAA" rating from MSCI ESG Ratings, being only one of three companies globally in the Oil & Gas Refining, Marketing, Transportation & Storage industry and the only company in North America in that industry, to receive this leadership rating. In addition, building on its recognized sustainability efforts, the Company is pleased to announce an ambitious Net Zero by 2050 target, which will become the Company's [Read more]
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ROK Resources releases Florence property reserves update
REGINA, SK - ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK) is pleased to announce the completion of an independent reserves evaluation of its recently acquired Florence Asset, effective August 31st, 2021, in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities and in accordance with the Canadian Oil and Gas Evaluation Handbook (the "Florence Property Report"). The Florence Property Report does not include the Company's existing corporate [Read more]
Heavy crude differential widens
Canadian heavy crude's discount to West Texas Intermediate (WTI) widened on Wednesday. Western Canada Select heavy blend crude for November delivery in Hardisty, Alberta, settled at $14.75 per barrel below the U.S. West Texas Intermediate (WTI) benchmark, according to NE2 Canada Inc, widening further from Tuesday's settlement of $14.30 per barrel under the benchmark. The discount on Canadian heavy crude has deepened steadily since the start of the month, after hitting its narrowest level [Read more]
Vermilion Energy Inc. achieves responsible producer certification through equitable origin
CALGARY, AB - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) is pleased to announce that it has achieved certification under the EO100™ Standard for Responsible Energy Development (2017) from Equitable Origin for three of its natural gas production sites in west-central Alberta: Granada, Eta Lake and Carrot Creek. Vermilion is the third producer of natural gas in Canada to have achieved this rigorous certification, which is based on an [Read more]
Canada leads world with pledge to curb methane leaks from oil and gas sector
OTTAWA - Canada is nearly doubling its target to cut methane emissions from the oil and gas sector as it prepares to sign a new global pledge at next month's climate talks in Scotland. The United States and Europe are pushing a Global Methane Pledge asking other governments to commit to cutting total methane emissions 30 per cent by 2030. But the International Energy Agency said last month that hitting global climate targets means methane from the oil and gas industry alone must be cut 75 [Read more]
Heating bills set to soar as inflation hits energy prices
Get ready to pay sharply higher bills for heating this winter, along with seemingly everything else. With prices surging worldwide for heating oil, natural gas and other fuels, the U.S. government said Wednesday it expects households to see their heating bills jump as much as 54% compared to last winter. The sharpest increases are likely for homes that use propane, which account for only 5% of U.S. households, but others are also likely to see big increases. Homes that use natural gas, [Read more]
Shortage of rig workers could slow Canadian oilpatch recovery, industry warns
CALGARY - Canadian energy contractors are facing a shortage of rig workers that could slow oilpatch recovery. Oil and gas companies are ramping up production to meet global energy demand as COVID-19 restrictions ease. Oil prices are at seven-year highs, with West Texas Intermediate trading this week at more than US$80 per barrel. The Canadian Association of Energy Contractors says there were 175 active drilling rigs in Canada last week, compared to just 75 in the same period last year. It [Read more]
Perpetual Energy Inc. comments on trading activity at request of IIROC
CALGARY, AB – Perpetual Energy Inc. ("Perpetual" or the "Company") is issuing this press release in response to a request from the Investment Industry Regulatory Organization of Canada ("IIROC") to comment on the recent trading activity of its stock. Perpetual is not aware of any material, undisclosed information related to the Company's operations and affairs that would account for the recent increase in the market price and level of trading volume of its shares. ADDITIONAL [Read more]
U.S. 2021 crude output seen falling more than previously forecast – EIA
U.S. crude oil output is going to fall more than expected previously in 2021 and bounce back in 2022, according to a monthly government report released on Wednesday. Crude output will drop 260,000 barrels per day to 11.02 million bpd this year, and then rebound to 11.73 million bpd in 2022, U.S. Energy Information Administration said. In its previous forecast, the statistical arm of the Department of Energy had forecast a 200,000-bpd drop in 2021. The agency cut its output forecast for the [Read more]
Reconciliation Energy Transition Inc. and Shell Canada Products execute MOU to co-develop the Polaris parbon capture and storage project
CALGARY, AB - Reconciliation Energy Transition Inc. ("RETI" or the "Corporation" an affiliate company of Project Reconciliation "PRI") is pleased to announce an executed Memorandum of Understanding ("MOU") with Shell Canada Products ("Shell") to collaborate on Shell's proposed Polaris carbon capture and storage ("CCS") project. Under terms of the MOU, RETI will work with its First Nations Partners to raise funds for a potential agreement to acquire an equity position in the Shell-led [Read more]