Ministers from OPEC, Russia and their allies met on Tuesday to discuss production policy amid upbeat forecasts for energy demand despite concerns about new coronavirus spikes in India, Brazil, and Japan. The group, known as OPEC+, began a meeting of its joint ministerial monitoring committee (JMMC) a day ahead of schedule, an OPEC+ source told Reuters. Before the meeting, OPEC+ sources said it was not clear if OPEC+ would hold a full ministerial meeting on Wednesday as originally planned or [Read more]
Headlines
20 years of reliable pump jacks
Ecoquip Artificial Lift is proud to announce its 20th year of providing high-quality, hydraulic pumping units to the Western Canadian oilpatch. Headquartered in Calgary and privately owned, Ecoquip has been supporting pumping operations for all types of applications in all parts of Alberta, BC, and Saskatchewan. Its longevity can be tied to it’s principle enshrined in their corporate messaging this year In honour of the 20th anniversary, Reliable Pump Jacks period. The artificial lift [Read more]
Trans Mountain ordered to delay pipeline construction in B.C. bird nesting area
VANCOUVER - Environment and Climate Change Canada has ordered a halt to construction of the Trans Mountain pipeline through a forest in Burnaby, B.C., until the end of bird nesting season. The department says the order was issued following an enforcement officer’s visit to the site prompted by complaints that nests of the Anna's hummingbird and other migratory birds were being damaged. It says cutting trees, using bulldozers, chainsaws or other heavy machinery in the area, will likely [Read more]
Study says easing rules on transfer of unreclaimed oil wells could speed cleanup
CALGARY - A report says Alberta should lower regulatory barriers that discourage businesses from reusing abandoned oil and gas wells. The Canada West Foundation says that could include allowing companies to sell off defunct energy infrastructure without completely cleaning it up. The study says that could make it easier for industries involving geothermal power, lithium production or solar energy to use parts of old sites that are still useful. The foundation says the Alberta Energy [Read more]
Frustrated Canada presses White House to keep Great Lakes oil pipeline open
Canada is pushing on several diplomatic fronts against the U.S. state of Michigan's efforts to close a cross-border oil pipeline, the second such dispute since Joe Biden became U.S. president in January, complicating the governments' efforts to work together to lower carbon emissions. The conflict over the aging but key pipeline highlights the disruptions caused by a global shift away from fossil fuels. Both governments are working to accelerate the energy transition, but their oil industries [Read more]
Oil inches lower on concerns over COVID-19 surge in India, Japan
Oil prices eased slightly on Monday on concerns that a resurgence of coronavirus infections in India and Japan, the world's third and fourth-largest oil importers, would cut fuel demand in Asia. U.S. West Texas Intermediate (WTI) crude futures was down 86 cents, or 1.38%, at $61.25 a barrel. Brent crude futures fell 87 cents, or 1.32%, to $65.10 a barrel following a rise on Friday. Both benchmark crudes fell about 1% last week. "Market sentiment was dented on worries that surging [Read more]
Replacing polyethylene lining system with a spray-applied seamless system proven to minimize tanks leaks
Our team at Western Engineered Containment (WEC) worked closely with one of our clients to solve a problem that they were facing - they discovered many leaks on their above-ground lined tanks. While the current lining method involves the fabrication of polyethylene sheet liners into the cylindrical shape of the tank, these methods weren’t proven successful for our clients. As a result of the current lining method, ineffective seams at the junction of the wall and the circular base lead to the [Read more]
Shippers push for CP Railway to win bidding war for Kansas City Southern
North America's freight rail customers, from grain shippers to logistics companies, are pushing for Canadian Pacific Railway Ltd to win a bidding war for Kansas City Southern over rival Canadian National Railway, eyeing stronger competition and swifter service. A takeout of KCS, would be the first major North American railroad combination in more than 20 years and create the first network to include the United States, Canada and Mexico. CN, Canada's biggest railroad, made an unsolicited [Read more]
Canada’s weekly rig count at 55
Canada averaged 55 active drilling rigs this week according to data from the Canadian Association of Oilwell Drilling Contractors. Of those rigs, 47% are drilling for natural gas, 38% are drilling for oil, 2% for other (helium, hydrogen, geothermal, or potash), and 13% are moving. Drilling activity by province is 73% in Alberta and 24% in BC. Precision Drilling holds the majority of the Canadian market share with 38%, Ensign Drilling with 18%, Nabors Drilling with 15%, Horizon Drilling [Read more]
U.S. oil rig count falls for first week since March
U.S. energy firms cut the number of oil rigs operating for the first time since March even though higher oil prices in recent months have prompted some drillers to return to the wellpad. U.S. oil rigs fell one to 343 in the week to April 23, while gas rigs remained unchanged at 94, according to data on Friday from energy services firm Baker Hughes Co. The U.S. oil and gas rig count, an early indicator of future output, fell by one to 438 this week. Before this week, drillers added rigs for [Read more]