CALGARY - Imperial Oil Ltd. says it will relinquish its contract to provide operational, technical, and business management services to Syncrude Canada Ltd. when Suncor Energy Inc. takes over operation of its oilsands mine and upgrader at the end of 2021. Under the contract, which has been in place for about 14 years, staff from Imperial were seconded to certain positions at Syncrude and provided team members to assist in implementing strategies, while Syncrude remained the day-to-day [Read more]
Headlines
Canada welcomes choice of Kerry as U.S. climate czar, will defend pipeline
Canada welcomes the choice of John Kerry as new U.S. climate envoy but will press Washington not to cancel permits for an oil pipeline he opposes, Ottawa's ambassador to the United States said on Tuesday. "We see a huge number of opportunities to work with the Americans on the international stage and also bilaterally on the fight against climate change. So this is good news," Kirsten Hillman told an event organized by the Montreal Council on Foreign Relations. President-elect Joe Biden [Read more]
New CER report shows that policy and technology change will be key drivers of Canada’s energy transition
CALGARY, AB - A new energy outlook from the Canada Energy Regulator (CER) finds that Canada's fossil fuel consumption declines over the next 30 years but without an accelerated energy transition, fossil fuels will still make up more than 60% of Canada's fuel mix in 2050. Canada's Energy Future 2020: Energy Supply and Demand Projections to 2050 explores how new technologies and climate policy will impact Canadian energy consumption and production trends over the next 30 years. The outlook [Read more]
Oil hits highest since March on vaccine
Oil hit its highest since in March on Tuesday, rising above $47 a barrel as a third promising coronavirus vaccine raised demand recovery hopes and U.S. President-elect Joe Biden received the go-ahead to begin his transition. AstraZeneca on Monday said that its COVID-19 shot was 70% effective in trials and could be up to 90% effective, giving the fight against the pandemic a third potential vaccine after positive results from Pfizer-BioNTech and Moderna. West Texas Intermediate crude gained [Read more]
U.S. Army Corps hands federal permits to Enbridge’s Line 3 oil pipeline project
Enbridge Inc said on Monday it received federal permits for its Line 3 crude pipeline replacement project from the U.S. Army Corps of Engineers, moving closer to building the pipeline in the United States after years of delay. Line 3, which ships crude from Alberta to U.S. Midwest refiners, currently carries less oil than was designed for because of age and corrosion. Replacing the line, built in the 1960s, would allow Calgary-based Enbridge to roughly double its capacity to 760,000 barrels [Read more]
Unified Valve Group is the new Canadian distributor of Texsteam Pumps
Calgary AB, Canada, and Houston TX, USA – Unified Valve Group Ltd. (“Unified”) and TexsteamTM Pumps (“Texsteam”) have partnered together to offer Texsteams’ full line of chemical injection pumps, including solar across Canada. With a focus on injection rate, Texsteam is available in a range of capacities and operating pressures for all industries including oil and gas, gas pipeline, industrial, water treatment, and chemical processing. Unified Valve Group has a full inventory of Texsteam pumps [Read more]
Column: Digital economy supply chains – excellent CBC (!) podcast lays bare the cold, hard, massive realities
Time to come clean about something. Like almost any other person affiliated with the hydrocarbon industry, I’ve long been frustrated with the Ottawa-centric, social-science-heavy analyses of industry provided by the CBC. The institution’s output seems geared to the sort of mentality one would not be thrilled to work with - whiny, hand-wringing, dependent, un-calloused, offended urbanites that couldn’t grow a potato or heat a building but have a fantastic understanding of the art of academic [Read more]
Suncor to assume operatorship of Syncrude by end of 2021
CALGARY, Alberta - Suncor, as 58.74% owner of the Syncrude Joint Venture, announced today that it, together with the other Syncrude joint venture owners – Imperial Oil Resources Limited, CNOOC Oil Sands Canada and Sinopec Oil Sands Partnership – have agreed in principle for Suncor to become the operator of the Syncrude project by the end of 2021. The agreement still requires formal approval from each of the owners. “This presents a significant strategic opportunity for Syncrude and the joint [Read more]
Obsidian Energy shareholders approve stock issuance in pursuit of Bonterra takeover
CALGARY - Obsidian Energy Ltd. says shareholders have voted to approve its proposal to issue up to 72.3 million shares to buy Bonterra Energy Corp. in a hostile takeover. The Calgary-based oil and gas producer says 91.4% of the shares represented at a special meeting on Monday were voted in favour of the deal announced in August, but strongly resisted since by the takeover target. Last week, shareholder advisory firm Glass Lewis recommended investors support management in pursuing Bonterra [Read more]
U.S. oil industry group pledges to fight possible Biden fracking limits
If U.S. President-elect Joe Biden tries to restrict development of oil and gas drilling on federal lands, the American Petroleum Institute (API) will use "every tool at its disposal" including a lawsuit against the federal government, chief executive Mike Sommers said in an interview with Reuters on Monday. Biden has said he supports a ban on new gas and oil permits — including fracking — on federal lands. Fracking, or hydraulic fracturing, is a drilling technology that has allowed the [Read more]