Canada’s oil and gas industry workforce can expect to see some further contraction in 2021 but modest employment growth will follow over 2022 and 2023, says a labour market outlook released today by the PetroLMI Division of Energy Safety Canada. According to the forecast, the industry’s direct employment is projected to rise to about 176,000 by 2023 surpassing 2020 levels but falling short of the 2019 employment level of 188,800 workers. “A strong energy industry will be an important component [Read more]
Headlines
CP Rail/KCS rail merger to unite loading and unloading links for bitumen transport
CALGARY - A partner in a project designed to allow more oilsands bitumen to be shipped by rail from Canada to the U.S. says the US$25-billion merger of Canadian Pacific Railway Ltd. and U.S. rival Kansas City Southern promises to provide additional benefits. Jim Albertson, senior vice-president of the Canadian business unit for Houston-based USD Group, says CP Rail and KCS have been "instrumental" in moving forward Western Canada's first diluent recovery unit (DRU) now under construction at [Read more]
Strategic alternatives process: Briko Energy Corp.
Briko Energy Corp. (“Briko” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with a strategic alternatives process. The Company is open to reviewing all alternatives, with potential outcomes to this process including, but not limited to, a sale of some or all of the assets, a recapitalization of the Company or a sale or merger of the Company. Briko is a junior oil and natural gas company which commenced operations on December 20, 2018 resulting from the plan of [Read more]
Canadian oil patch braces for more deals after record start to 2021
Mergers and acquisitions in Canada's oil and gas sector had a record start to the year in 2021 as companies took advantage of improved oil price expectations amid the pandemic recovery, and many industry participants expect the trend to continue. The flurry of deals underscores the Canadian energy sector's desire to grow to benefit from the rebound in oil prices as global fuel demand picks up. It also reflects smaller companies betting on economies of scale. "As the funding markets have [Read more]
What do we do with CO2?
Much has been said recently about reaching net-zero targets and minimizing our carbon footprint. In December 2020, the Canadian government released the Hydrogen Strategy for Canada, which lays out a detailed framework for actions that will utilize hydrogen as a tool to achieve our goal of net-zero emissions by 2050. A key factor in achieving this success will be to generate blue hydrogen from the abundance of hydrocarbons that sit in the Western Canadian Sedimentary Basin. However, to [Read more]
Join the EMBA scene at an interactive virtual event for executives
Join the Executive MBA scene. Expand your network of senior managers and visionary leaders. Premier EMBA gathers ambitious business school aspirants for productive virtual networking sessions with Rotman Executive MBA, HEC Paris EMBA, IE Business School, and more. Date: Wednesday, March 31, 2021 Place: Online event platform Executives will connect with successful alumni and representatives of some of the world’s top 50 EMBA programmes from the Financial Times Executive MBA [Read more]
Column: There are far more important things to worry about than Hollywood’s vacuous-villained ‘Bigfoot’
Some say the end is near Some say we'll see Armageddon soon I certainly hope we will I sure could use a vacation from this Bullsh*t three-ring Circus sideshow of Freaks Here in this hopeless $&%^% hole we call L.A. The only way to fix it is to flush it all away Any $&%^% time, any $&%^% day Learn to swim, I'll see you down in Arizona bay - “Ænema” by Tool (L.A. resident misfits) Sigh. So now ‘we’re’ going after a kid's movie. I understand the motivation and the [Read more]
Oil drops on concerns European COVID-19 issues to crimp demand
Oil prices fell 1% on Tuesday on concerns that new pandemic curbs and slow vaccine rollouts in Europe will slow a recovery in fuel demand and as producers cut prices, indicating ample oil supply. U.S. West Texas Intermediate (WTI) crude futures for May delivery fell $3.19, or 5.2%, to $58.05 a barrel. The April contract expired on Monday at $61.55, up 13 cents from Friday, after plunging more than 6% last week. Brent crude futures for May dropped by $3.15, or 4.95% to $61.08, erasing a 9 [Read more]
Vertex Resource Group Ltd. reports fourth quarter and fiscal 2020 Results
SHERWOOD PARK - (TSXV: VTX) - Vertex Resource Group Ltd. ("Vertex" or the "Company") reports its financial and operational results for the fourth quarter and year ending December 31, 2020. The following should be read in conjunction with the Management Discussion and Analysis ("MD&A") and the audited consolidated financials statements of Vertex for the year ended December 31, 2020, which are available on SEDAR at www.sedar.com. In the fourth quarter of 2020, despite ongoing challenges [Read more]
Look to next-gen oil and gas leaders to end North America’s energy stalemate
WASHINGTON - North America's polarizing pipeline battles have seen many venues — from the Prime Minister's Office and the U.S. State Department to the windswept plains of Nebraska and Minnesota to judge's chambers on both sides of the Canada-U.S. border. The irreconcilable differences are rooted in the regional nature of the energy industry in both countries, experts say, with climate-change hardliners on one side and oil-and-gas traditionalists on the other. The solution, when it does [Read more]