Canada's Liberal Party is set to form a minority government after Monday's federal election, CBC TV said, following a tight election. That means Prime Minister Justin Trudeau will have to rely on support from other parties to govern. Here are some of the implications of a minority government for energy policy: Political scientists say instead of going into a formal coalition with another party, the Liberals will instead most probably govern on a vote-by-vote basis. The Conservative opposition [Read more]
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Obsidian Energy Announces Date of Third Quarter Results and Resignation of CFO
CALGARY, Oct. 21, 2019 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") announces the reporting date of its upcoming third quarter 2019 financial and operating results and the resignation of its Chief Financial Officer. Date of Third Quarter Results Obsidian Energy expects to release its third quarter 2019 financial and operational results before North American markets open on Monday, November 4, 2019. In addition, the third [Read more]
Column: Will Canadians lament what could be lost in the aftermath of the 2019 Election?
Climate Change has been a dominant topic in the 2019 Federal election campaign. It appears Canadians want something done but we have yet to hear any leader articulate a realistic end state. If that end state is for zero emissions and the climate to hereinafter remain stable, then I offer that the geologic record indicates that such a state has never occurred nor would it be natural. Presumably the main public concern is over the role of CO2 affecting the rate and magnitude of change. It is [Read more]
Watch: Company creates affordable way for the impoverished in Africa to cook cleanly
PayGo, a Nairobi-based energy startup, is improving quality of life by making clean, safe cooking fuel more accessible and affordable. The technology has the capacity to help over a billion households worldwide transition from dirty fuels such as charcoal and wood to clean-burning gas. This could prevent up to five million premature deaths annually that are tied to the indoor combustion of these dirty fuels. https://www.youtube.com/watch?v=VgZPrwzcp8U&feature=youtu.be [Read more]
Energy regulator says crude-by-rail shipments fell to 310,000 bpd in August
The Canada Energy Regulator says exports of crude oil by rail from Canada fell slightly in August to 310,000 barrels per day from 313,000 bpd in July. The August number is up 35 per cent from 230,000 bpd reported in August of 2018 but still well below the record high of 354,000 bpd set last December. The small change in crude-by-rail shipments came despite a threat by Imperial Oil Ltd. CEO Rich Kruger to throttle back the company's rail movements in August and September to protest the [Read more]
Canadians cast their ballots after divisive campaign, and amid tight polls
Now it’s time for what politicians always say is the only poll that really matters. Canadians will cast their ballots today in the country’s 43rd general election after what federal leaders themselves have called a nasty and divisive campaign. Liberal Leader Justin Trudeau and Conservative Leader Andrew Scheer have spent weeks arguing the decision is between which of the two historical governing parties will be in office. But NDP Leader Jagmeet Singh has drawn support from progressive [Read more]
Oil prices dragged lower by sluggish demand, supply outlooks
Oil prices dropped on Monday amid persistent concerns about the global economic outlook and the impact on oil demand, while Russia again missed its target to cut oil output last month. U.S. West Texas Intermediate crude oil futures declined 68 cents, or 1.23%, to $53.00 a barrel. Global benchmark Brent crude oil futures fell by 83 cents, or 1.4%, to $58.44 a barrel. Signs of still ample global oil supply combined with concerns about economic growth in China, the world's largest oil [Read more]
U.S. natgas futures ease on record production, less cold forecasts
U.S. natural gas futures eased as production rose to a record high and forecasts for lower than previously expected heating demand next week. Front-month gas futures for November delivery on the New York Mercantile Exchange were down 3.2 cents, or 1.4%, to $2.288 per million British thermal units at 8:40 a.m. EDT (1240 GMT). Speculators last week cut their long positions on the NYMEX to their lowest since January 2009 after stockpiles returned to normal levels for the first time in over [Read more]
Canada weekly rig count decreases from 146 to 143
Canada’s fleet of active drilling rigs decreased by 3 since last week according to data from Baker Hughes. Total drilling count was 143 at October 18. 98 rigs were drilling for oil; 45 for natural gas. Drilling activity in Alberta decreased by 2, from 97 to 95. Saskatchewan’s fleet decreased by 2 to 32. View a full breakdown of Western Canada’s rig activity. [Read more]
Crescent Point Closes on Sale of Uinta Basin and Non-Core Saskatchewan Assets
CALGARY, Oct. 18, 2019 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce that it has successfully closed the previously announced sale of its Uinta Basin asset and certain non-core conventional assets in southeast Saskatchewan. These accretive dispositions are in-line with the Company's strategy to focus its asset base and strengthen its balance sheet. Crescent Point is a leading North American light oil producer, driven to [Read more]