July 2008: TC Energy Corp. — then called TransCanada Corp. — and ConocoPhillips, joint owners of the Keystone Pipeline, propose a major extension to the network. The expansion, dubbed Keystone XL, would carry hundreds of thousands of barrels of oilsands bitumen from Alberta to Texas. 2009: As the U.S. State Department wades through comments based on an environmental assessment of the project, TransCanada starts visiting landowners potentially affected by the pipeline. Opposition emerges in [Read more]
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Sinopec Canada: non-core property divestiture
Sinopec Canada (“Sinopec”) is in the process of selling certain non-core properties located in Alberta & British Columbia (22 areas, ~191 Gross Sections/~59 Net Sections). The Total Net Production forecasted for 2021 for all the assets is ~258 Boe/d (~10% oil and liquids). The Assets are a mix of Operated and Non-Operated Working Interests, with the majority being Non-Operated. Click here to view additional information on Sinopec Canada’s Non-Core Property Divestiture. A package of [Read more]
Despite uncertainties, OPEC sticks to forecast of oil demand surge in second half
OPEC stuck to its prediction of a strong world oil demand recovery in 2021 led by the United States and China despite uncertainties stemming from the pandemic, pointing to a need for more oil from the producer group. In a monthly report on Thursday, the Organization of the Petroleum Exporting Countries said demand would rise by 6.6% or 5.95 million barrels per day (bpd) this year. The forecast was unchanged for a second consecutive month. The report's forecast comes despite a [Read more]
Inter Pipeline reconfirms support for strategic combination with Pembina; rejection of revised Brookfield offer
CALGARY, AB - Inter Pipeline Ltd. ("Inter Pipeline" or the "Company") (TSX: IPL) today reconfirms that the Board of Directors (the "Board") unanimously recommends that Shareholders support the strategic share-exchange transaction with Pembina Pipeline Corporation ("Pembina") and reject the revised hostile takeover offer (the "Revised Brookfield Offer") proposed by an affiliate of Brookfield Infrastructure Partners L.P. ("Brookfield"). The Board's determination followed careful [Read more]
Column: 215 reasons (and counting) to move forward resolutely on Indigenous development
“Canadians need to understand; you can't compare what happened to us towards other cultures & ethnic groups…What happened to those groups are tragic & should never be forgotten, but like all Canadians, we share those stories in grief. We share them to inform & educate the world on such tragedies… We do it, because it's the right thing to do. We need to do the same for Indigenous people. I need to do this for my children. I need to do this for myself….Thank you for understanding. [Read more]
Enbridge expands natural gas access to Ontario communities
CALGARY, AB, June 9, 2021 /CNW/ - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) announced today that in collaboration with the Government of Ontario it is expanding natural gas access to rural, northern and Indigenous communities in Ontario, Canada. Enbridge will access Ontario's Natural Gas Expansion Program to support 27 projects to expand natural gas access across the province, helping to keep the cost of energy low for families, businesses and farmers. The average [Read more]
Heavy crude differential edges wider
Canadian heavy crude's discount to West Texas Intermediate (WTI) widened slightly on Wednesday. Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, settled at $13.80 per barrel below the WTI benchmark, according to NE2 Canada Inc, widening from Tuesday's settle of $13.70 a barrel under the benchmark. One Calgary-based industry source said U.S. refinery demand was supporting Canadian crude prices as concerns about a third wave of the COVID-19 pandemic [Read more]
TC Energy confirms termination of Keystone XL Pipeline Project
CALGARY, Alberta - TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) confirmed today that after a comprehensive review of its options, and in consultation with its partner, the Government of Alberta, it has terminated the Keystone XL Pipeline Project (the Project). Construction activities to advance the Project were suspended following the revocation of its Presidential Permit on January 20, 2021. The Company will continue to coordinate with regulators, stakeholders and [Read more]
New CER report explores Canada’s oil and gas pipeline system
CALGARY, Alberta - Today, the Canada Energy Regulator (CER) released a report explaining the economics and market dynamics for the more than 73,000 kilometres of pipelines it regulates. The report, Canada’s Pipeline System 2021: Economics of CER-Regulated Infrastructure, provides data and trends on the movement of energy between Canada, the United States (U.S.) and the rest of the world between 2015 and 2020. As one of the world’s top oil and gas producers, Canada produces for both domestic [Read more]
Canada’s largest oil sands producers announce unprecedented alliance to achieve net zero greenhouse gas emissions
CALGARY, AB - Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced today the Oil Sands Pathways to Net Zero initiative. These companies operate approximately 90% of Canada's oil sands production. The goal of this unique alliance, working collectively with the federal and Alberta governments, is to achieve net zero greenhouse gas (GHG) emissions from oil sands operations by 2050 to help Canada meet its climate goals, including its Paris Agreement [Read more]