CALGARY, Alberta - The United States supplied nearly four out of every five barrels of oil imported into Canada in 2020 while crude imports fell 20 percent due to lower demand during the COVID-19 pandemic, according to the latest analysis from the Canada Energy Regulator (CER). Imports of crude oil decreased to 555,000 barrels per day (b/d), down from 693,000 b/d in 2019 with 77 per cent of total crude imports coming from the U.S. in 2020, up from 72 per cent in 2019. Of the remaining crude [Read more]
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Ontario Energy Association releases report examing the implcations of shutting down Ontario’s natural gas-fired generators by 2030
TORONTO - Today, the Ontario Energy Association (OEA), released a report produced by Power Advisory LLC examining the implications for Ontarians of shutting down all of Ontario's natural gas-fired generators by 2030. The OEA is committed to Canada's goal of achieving net zero GHG emissions by 2050 (NZ2050). Seventy-six per cent of Ontario's GHG emissions stem from energy use. However, only 2.3 per cent of emissions currently come from the electricity system. Therefore, the path to NZ2050 [Read more]
XI Technologies: Don’t forget ARO when developing ESG strategies
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. As more attention is given to the energy industry in Canada from increasingly vocal environmental groups, stakeholders, and investors, there is an increased focus on Environment, Social, and Governance (ESG) performance. ESG metrics [Read more]
Bonterra Energy Corp. announces appointment of new board chair and adoption of advance notice by-law
CALGARY, AB - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") today announces that Mr. D. Michael G. Stewart has been appointed Chair of the Board of Directors (the "Board") effective immediately, assuming the role from Mr. George Fink, who remains an active Director on the Board and the Company's Chief Executive Officer. In addition, Bonterra's Board has approved certain amendments to the Company's by-laws (the "By-Law Amendments"), including the adoption [Read more]
IEA ups oil demand forecast as vaccinations brighten outlook
Vaccine rollouts are brightening the outlook for global oil demand, the International Energy Agency (IEA) said on Wednesday, though rising cases in some major oil-consuming countries show a recovery may be fragile. "Fundamentals look decidedly stronger," the IEA said in its monthly report. "The massive overhang in global oil inventories that built up during last year's COVID-19 demand shock is being worked off, vaccine campaigns are gathering pace and the global economy appears to be on a [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Apr. 12 Construction Representative - Pipeline ROW Stripping Brunel Lloydminster Apr. 12 Construction Site Representative - Grading Brunel Lloydminster Apr. [Read more]
New poll: Focus on COVID, not climate reset
57% want focus on fighting COVID and return to normal vs 34% who support efforts to restructure the economy to address climate change Majority opposed to city council motions to phase out natural gas Public policy think tank SecondStreet.org released public opinion research today that shows a majority of Canadians want governments to be focussed on fighting COVID-19 and returning things to normal rather than looking at restructuring the economy with higher carbon taxes, rebates, [Read more]
Failed fitting caused 1200 barrel spill at Trans Mountain site in B.C. last year
VANCOUVER - A Transportation Safety Board report says the failure of a fitting on a section of narrow tubing at a Trans Mountain pumping station in British Columbia was the cause of a crude oil spill last year. The investigation report into the spill on June 12, 2020, at the Trans Mountain Sumas pump station in Abbotsford confirms as much as 1,200 barrels leaked when the fitting separated on the one-inch tube. A board report released Tuesday says tests show the compression fitting was not [Read more]
OPEC raises 2021 oil demand growth forecast on hope pandemic wanes
OPEC raised its forecast for growth in world oil demand this year on expectations the pandemic will subside, providing help for the group and its allies in their efforts to support the market. Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report. That is up 70,000 bpd from last month. “As the spread and intensity of the COVID-19 pandemic are expected to subside with the ongoing rollout of [Read more]
Column: The return of golf’s spring classic parallels a return to normality – for energy too
It felt like a weird pleasure to succumb to a spring tradition once again. The Masters golf tournament was on this past weekend. I had trouble pulling myself away. For the non-golf crowd, that might be an eye roller, but hang on, wait until you hear about all the drama. To be clear, I am a fair-weather fan, only the Masters and the British Open catch my attention - the Masters because it is such a welcome sign of spring (last year’s Masters-in-fall was an abomination - no thanks), and the [Read more]