WASHINGTON - Canada's natural resources minister is calling the cross-border Line 5 pipeline a "non-negotiable" element of talks with the United States. Seamus O'Regan is vowing to defend the underwater pipeline as he testifies before a special House of Commons committee on Canada-U.S. relations. Michigan Gov. Gretchen Whitmer has pledged to shut down the Enbridge pipeline, which links Wisconsin and Sarnia, Ont., through the Straits of Mackinac between lakes Michigan and Huron. O'Regan [Read more]
Headlines
Yangarra announces 2020 year end financials, operating results and reserves
CALGARY, AB - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX: YGR) announces its financials, operating results and reserves for the year ended December 31, 2020. 2020 was a volatile year with many challenges for the oil & gas industry in North America. Yangarra quickly responded to COVID-19 in early 2020 by reducing the capital program to zero until August 2020. Although this resulted in a decline in production, the Company worked to streamline operations and internalize [Read more]
Shell Canada employing ‘agile teams’ to power energy transition and reduce emissions
CALGARY - The president and country head for Shell Canada says its transition into a provider of cleaner energy is being driven by a network of "agile teams" of employees who are examining between 30 and 40 project ideas at a time. Michael Crothers says the teams formed from employees brought in from various parts of the company are looking at proposals that include the use of hydrogen, biofuels, and wind and solar energy to help the company reduce its environmental impact. Speaking during [Read more]
Oil strengthens on prospect of OPEC+ maintaining supply cuts, drop in U.S. inventories
Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day lent support alongside a drop in U.S. fuel inventories. U.S. West Texas Intermediate (WTI) crude futures gained $1.02, or 1.68% to $62.06 a barrel. Brent crude futures added $1.13, or 1.8%, to $65.03 a barrel, after climbing more than 2% on Wednesday. "Prices hinge on Russia's and Saudi Arabia's preference to add more [Read more]
Vertex Resource Group Ltd. acquires Mad Oilfield Solutions
Sherwood Park, Alberta, March 2, 2021 (TSXV:VTX) - Vertex Resource Group Ltd. (“Vertex” or the “Company”) is pleased to announce that it has acquired MAD Oilfield Solutions (MAD), a privately-held company providing environmental services specializing in industrial cleaning, waste management and hydro-excavating, based out of Northern Alberta. The acquisition of MAD will add over 50 specialized units, along with other equipment to Vertex’s fleet. MAD is a leader in the industry, delivering [Read more]
Column: Don’t believe the activists, natural gas stoves are fine to use
Gourmets have been long-time aficionados of gas stoves because they provide better quality heat that is easy to control quickly. Most people prefer a gas stove as a better choice for cooking. Now the same people who are telling you not to eat meat are telling you not to be better cooks either. Most recently, they have been using a heavily biased report that was authored by the Sierra Club and the Rocky Mountain Institute. It goes without saying these authors have a biased view on fossil [Read more]
Ovintiv appoints Katherine L. Minyard to board of directors
DENVER - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Katherine L. Minyard has been appointed as an independent member of its board of directors, effective immediately. Minyard, 45, is an Investment Principal and Partner at Cambiar Investors where she focuses on energy, metals and mining, industrials, basic materials and utility equities. Before joining Cambiar, she was an Executive Director on J.P. Morgan's Equity Research Team covering integrated oil, refining, Canadian oil [Read more]
Canadian Natural Resources beats profit estimates, boosts dividend
Canadian Natural Resources Ltd beat analysts' estimates for fourth-quarter profit on Thursday, as crude prices staged a steady recovery during the period from pandemic-driven lows, also helping boost its dividend. An uptick in crude and natural gas prices has given operators some respite after a tumultuous 2020, when the COVID-19 pandemic wiped out one-fifth of global demand for fuel. After falling to record lows in the spring, Brent crude prices averaged around $45 per barrel in the [Read more]
Canadian Natural Resources Limited announces 2020 fourth quarter and year end results
Calgary, Alberta - Commenting on the Company's 2020 results, Tim McKay, President of Canadian Natural (TSX: CNQ) (NYSE: CNQ) stated "The impact of the COVID-19 pandemic effected the very way we conducted our lives and the way we operated our businesses. Through the year we took protocols to protect our stakeholders and would like to thank our employees, contractors, suppliers and shareholders for their support through this challenging year. Despite the challenges of COVID-19 in 2020, the [Read more]
Athabasca Oil Corporation announces 2020 year-end results
CALGARY, Alberta - Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) reports its 2020 year-end results and annual reserves. In a year of unprecedented challenges, Athabasca demonstrated the exceptional resilience of its low-decline assets. In 2021, Athabasca is focused on resuming its pre-COVID business plan of free cash flow generation, disciplined operations and preserving long term future projects across its portfolio. Armed with an unrestricted cash balance of $165 million, [Read more]