HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today reported fourth-quarter 2019 earnings of $0.7 billion, or $0.65 per share, compared with fourth-quarter 2018 earnings of $1.9 billion, or $1.61 per share. Excluding special items, fourth-quarter 2019 adjusted earnings were $0.8 billion, or $0.76 per share, compared with fourth-quarter 2018 adjusted earnings of $1.3 billion, or $1.13 per share. Special items for the current quarter included primarily a non-cash impairment related to a [Read more]
Headlines
“It’s time to link arms with Canadians across the Country“ says Opposition Finance Critic MP Pierre Poilievre.
Federal MP Pierre Poilievre brought a message of solidarity for the Canadian Energy sector in his address to a breakfast crowd at the Calgary Petroleum Club last week saying “ It’s time to link arms with Canadians across the country … little by little, we are winning over national support from Canadians coast to coast. You have allies across this country “. He strongly affirmed that Alberta’s problems are not market-related – they are entirely political, and he stressed that when damage is [Read more]
Greengate Power and Copenhagen Infrastructure Partners Announce Investment Agreement for Canada’s Largest Solar Energy Project – One of the Largest in the World
CALGARY, Alberta - Greengate Power Corporation (Greengate) and Copenhagen Infrastructure Partners (CIP) are pleased to announce that they have entered into an agreement with the intention to fund the further development and construction of the Travers Solar project. Subject to the achievement of certain remaining milestones, construction of the project is anticipated to commence in mid-2020, with full commercial operations targeted for the end of 2021. Located in Vulcan County, Alberta, Travers [Read more]
Oil prices rebound from China virus slump amid gingerly recovery across markets
Oil prices rose on Tuesday, matching moves in other financial markets as investors regained calm after Monday's sharp sell-off on fears of the impact of the China coronavirus on demand for fuel sent crude to its lowest level in more than a year. U.S. West Texas Intermediate (WTI) crude was up 32 cents, or 0.6%, at $50.43 a barrel. Brent crude was at $54.66 a barrel by 0227 GMT, up 21 cents, or nearly 0.4%. Both WTI and Brent are currently down by more than 20% from this year's peak on Jan. [Read more]
Heavy discount narrows as inventory levels shrink
Canadian heavy crude's discount versus U.S. benchmark West Texas Intermediate (WTI) crude narrowed on Monday, the first day of the new monthly trading cycle. Alberta oil inventories have shrunk as rail movement increases, a Calgary industry source said. Anticipation of downtime for maintenance at oil production sites in March, the current delivery period being traded, also reduced the discount, the source said. Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, [Read more]
Enbridge Line 3 oil pipeline clears hurdle, Minnesota regulator rules environment statement adequate
A Minnesota regulator ruled on Monday that a revised environmental impact statement for Enbridge Inc’s Line 3 oil pipeline replacement is adequate, helping to clear a significant hurdle for the long-delayed project. The Minnesota Public Utilities Commission voted 3-1 to find the revised statement from the state's Department of Commerce adequate. It was to move on Monday afternoon to consider reissuing a certificate of need and route permit for the project. Enbridge shares jumped 1.5%, [Read more]
Global Petroleum Show Unveils New Name–Global Energy Show–to Reflect the Evolving Energy Landscape
Leading Energy Event Rebrands to Mirror Industry's Forward-Looking Mindset CALGARY - Global Petroleum Show—North America's leading energy event—today announced its complete rebrand to Global Energy Show. The name Global Energy Show reflects the industry's continued evolution, as the Show builds upon significant technological and sustainable achievements driven by oil and gas and moves to encompass alternative sources. The rebrand comes in advance of the 54th annual show, taking place in [Read more]
Receivership Sale: Wolf Coulee Resources Inc.
On November 18, 2019, Hardie & Kelly Inc. was appointed receiver and manager (the “Receiver”) of Wolf Coulee Resources Inc. (“Wolf Coulee” or the “Company”). The Receiver has engaged Sayer Energy Advisors (“Sayer”) to assist with the sale of Wolf Coulee’s oil and natural gas properties. The Receiver was appointed by the Court pursuant to the application made by the Orphan Well Association and intends to divest the properties, in whole or in part. The offering presents an opportunity to [Read more]
Alberta premier heads to Montreal and Washington, D.C. to talk business and pipelines
EDMONTON - Alberta Premier Jason Kenney will travel to Montreal and Washington, D.C., this week. A statement from Kenney's office says the trip, which starts Monday and continues until next Sunday, will promote the government's work to drive investment, expand Alberta exports and get pipelines built. The statement says Kenney will meet with business leaders in Montreal and do media interviews. In Washington, he's set to attend National Governors Association meetings along with Ontario [Read more]
Advantagewon Oil Corp., Further Expands its Canadian Operations
Toronto, Ontario--(Newsfile Corp. - February 3, 2020) - Advantagewon Oil Corp., (CSE: AOC), (OTC Pink: ANTGF), (the "Corporation", "Advantagewon", "AOC") announced today that it has further expanded and advanced its Canadian based operations. The Corporation has entered into an agreement whereby it acquired a working rights interest to a former operating well that has a historic production record of between 20 and 30 Barrels of Oil Per Day ("BOPD"). The Corporation has also committed to [Read more]