TRAVERSE CITY, Mich. - Michigan's demand that Enbridge Inc. shut down an oil pipeline that runs through a channel linking two of the Great Lakes is based on bad information and political posturing and will be ignored, the Calgary-based company said Tuesday. Democratic Gov. Gretchen Whitmer in November moved to revoke a 1953 state easement that allowed part of the Canadian company's Line 5 to be placed along the bottom of the Straits of Mackinac, charging that Enbridge had repeatedly violated [Read more]
Headlines
Third of oil and gas workers faced pay cut in 2020 due to pandemic, survey shows
Almost one in three workers in the oil and gas industry faced pay cuts in 2020, a worldwide survey showed on Tuesday, as the coronavirus crisis drove down fuel demand and prices. Oil and gas workers are still among the highest paid in the world, but a majority of those questioned said they felt less secure about their jobs than a year ago, as the shift to low-carbon energy sources pushed down investment in their industry. Salaries in the sector are closely tied to oil prices, which [Read more]
Now available: Argus Media 2021 Canada crude oil trading calendar
Download the 2021 Canada Crude Oil trading calendar to ensure you are prepared for 2021. Having access to this calendar puts the important crude oil trading dates in one place. Canada calendar dates include: Enbridge NOS due dates Canada physical trade window open dates Argus publishing holidays Argus is a leading energy and commodity price reporting agency that provides price assessments, analysis, bespoke consulting services and industry-leading conferences for the global [Read more]
Column: Norway’s hydrocarbon consumption shows stark reality of energy transition – even for the filthy rich
For a long time, decades, when the world thought of oil they thought of Saudi Arabia or the Middle East. That made sense. The Middle East that brought ultra-cheap oil to the world, and it's colourful cast of characters enjoyed jerking the economic world around by running out onto their royal balconies and shouting ‘Oil prices must go up’ or ‘Oil prices must go down’ or ‘We’re still thinking but we are going to do something big and we’ll get back to you’. An ever-thirstier world, high on [Read more]
Tamarack Valley Energy announces 2021 guidance and corporate update
CALGARY, AB - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX: TVE) announces that the Board of Directors (the "Board") has approved a 2021 capital budget of $105 to $110 million, designed to grow corporate oil production by approximately 30% on an exit-over-exit basis, generate significant free adjusted funds flow and maintain a strong balance sheet with a debt to trailing annual adjusted funds flow of less than 1.5 times. While 2020 was a challenging year on many fronts, [Read more]
Oil prices fall on renewed coronavirus concerns as China cases mount
Oil prices fell on Monday on renewed concerns about global fuel demand amid strict coronavirus lockdowns in Europe and new movement restrictions in China, the world’s second-largest oil user, after a jump in cases there. U.S. West Texas Intermediate (WTI) slipped 97 cents, or 1.85%, to $51.65 a barrel. WTI rose to its highest in nearly a year on Friday. Brent crude oil futures fell $1.09, or 1.94%, to $55.16 a barrel after earlier climbing to $56.39, its highest since Feb. 25, 2020. Brent rose [Read more]
Pembina Pipeline Corporation announces consideration of hybrid subordinated debt securities offering
CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL); (NYSE: PBA) announced today that it is considering an offering of hybrid subordinated debt securities under its short form base shelf prospectus dated December 30, 2020. If a successful offering is priced and completed, the Company intends to use the net proceeds of the offering to redeem or repurchase its outstanding cumulative redeemable minimum rate reset Class A Preferred Shares, Series 11 (TSX: [Read more]
Vertex Resource Group Ltd. appoints new Vice President of Engineering
Sherwood Park, Alberta (TSXV:VTX) – Vertex Resource Group Ltd. (“Vertex” or the “Company”) announces the appointment of Tom Bratrud, P.Eng to the position of Vice President Engineering. Mr. Bratrud has 29 years of multisectoral EPCM experience with public and private companies, including his role as Senior Vice President of Oil and Gas with WSP Canada. He is a Professional Engineer and active member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA). Vertex is [Read more]
Bonterra Energy Corp. confirms previous recommendation for shareholders to reject the hostile bid
CALGARY, AB - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") today confirms that the Company has carefully reviewed the Notice of Extension, Variation and Change filed by Obsidian Energy Ltd. ("Obsidian") for the unsolicited bid to acquire all of the issued and outstanding common shares of Bonterra in exchange for shares of Obsidian (the "Hostile Bid") and continues to strongly recommend that Bonterra shareholders take no action and REJECT the Hostile [Read more]
Pieridae COO departs company
CALGARY, Alberta - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) today announced Chief Operating Officer (“COO”) Tim de Freitas has left the Company effective immediately to pursue other endeavours. “On behalf of Pieridae Energy Limited, I would like to thank Tim for his past contributions, particularly during the purchase of the Shell assets in the fall of 2019, and we wish him well in the future,” said Pieridae CEO Alfred Sorensen. Sorensen will assume COO [Read more]