Crude dropped on Tuesday as investors cashed in on a recent rally, but market sentiment remained solid on hopes for a quick recovery in oil demand in the U.S. and European markets and fading expectations for an early return of Iranian crude. U.S. West Texas Intermediate (WTI) crude for July was at $72.93 a barrel, down 9 cents, or 0.13%. Brent crude futures for August dipped 8 cents, or 0.11%, to $74.74 a barrel. Brent gained 1.9% and WTI jumped 2.8% on Monday. Both benchmarks have [Read more]
Headlines
Crescent Point releases 2021 sustainability report
CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce the release of its 2021 Sustainability Report (the "Report"). The Report is highlighted by the Company's increased target for emissions intensity reduction, an increase from 30 to 50 percent by 2025, including a 70 percent reduction in absolute methane emissions. The Report also outlines the Company's latest progress and commitment to strong environmental, social and [Read more]
Spartan Delta Corp. announces strategic acquisitions and provides operational update
CALGARY, AB - Spartan Delta Corp. ("Spartan" or the "Company") (TSXV: SDE) is pleased to announce strategic asset acquisitions in the Gold Creek and Simonette areas. Total consideration for the acquisitions is approximately $10.1 million in cash, subject to certain closing adjustments. In addition, Spartan is also pleased to provide an update on the Company's operations. ACQUISITION HIGHLIGHTS The acquired assets include 33,500 net acres of Montney rights, 100 net Montney locations, 300 [Read more]
ROI 2021 summer featured production equipment
Reef Oilfield Inventory Ltd. (ROI, est. 2017) offers value-added surplus oilfield production equipment. From “As Is,” “Retrofitted/Repaired”, “Delivered” to “Engineered Surplus Solutions,” we are eager to share our featured Pump Jacks, Compressors, Separators, and select Gas Plants ready for your next application. As well as additional equipment landed “In the Yard”. Click the links for pictures and detailed information. To engage with us, request drawings, or inquire about equipment please [Read more]
Pieridae releases its inaugural ESG report
CALGARY, Alberta - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) is pleased to release its inaugural ESG Report. This announcement is the culmination of more than 14 months of effort to develop an ESG framework and strategy before producing and finalizing our inaugural report. We have defined the top material ESG risks and opportunities to be prioritized over the coming months, and have made a number of commitments the Company will focus on delivering. Our Commitments: [Read more]
Canada’s climate plan charts hard road ahead for oil sands
WINNIPEG, Manitoba/CALGARY, Alberta - Canada has set ambitious targets for slashing emissions to fight climate change, but faces a stiff challenge: not only is its economy dependent on oil production, but the Canadian oil industry's carbon emissions are among the world's highest for every barrel of oil it pumps. In the long term, Canada needs to cut its dependence on the energy sector that accounts for 10% of its economy, as the world works on a transition and being less reliant on fossil fuels. [Read more]
From confrontation to collaboration: reconciling relations between the energy sector and ESG investors
NEW YORK - The next five years will bring an intense period of change for industries in the energy and natural resources sector―oil and gas, utilities, chemicals, mining and agriculture―as many reinvent themselves to tackle climate change and navigate the energy and resource transitions. Some investors are betting against them, shifting money from notable incumbents to new companies with less historical baggage. Bain's first-ever Global Energy and Natural Resources Report argues it would be a [Read more]
Enbridge Inc. announces resignation of board member Gregory J. Goff
CALGARY, AB - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Corporation) announces the resignation of Gregory J. Goff as a director of the Corporation, effective June 21, 2021. Mr. Goff's decision to resign from the Board of Directors was not the result of any disagreement relating to the Corporation's operations, policies or practices. Enbridge would like to thank Mr. Goff for his service and contribution to the Corporation. About Enbridge Inc. Enbridge Inc. is a leading North [Read more]
Fifth straight weekly dip seen for U.S. crude inventories
U.S. crude stocks were expected to drop for the fifth consecutive week, while distillate and gasoline were seen rising last week, a preliminary Reuters poll showed on Monday. Six analysts polled by Reuters estimated, on average, that crude stocks fell by about 3.6 million barrels in the week to June 18. U.S. crude oil stockpiles dropped sharply last week as refineries boosted operations to their highest level since January 2020, signalling continued improvement in demand. The poll was [Read more]
Inter Pipeline rejects revised hostile takeover offer by Brookfield Infrastructure
CALGARY - Inter Pipeline Ltd. has rejected a revised hostile takeover offer by Brookfield Infrastructure Partners LP that allows shareholders to receive their payment entirely in cash instead of a mix of cash and shares if they want. The company urged shareholders to reject the offer and support its friendly all-stock deal to be bought by Pembina Pipeline Corp., which would see shareholders receive half a Pembina share for each Inter Pipeline share they hold. Inter Pipeline says it [Read more]