Canadian heavy crude's discount versus West Texas Intermediate (WTI) narrowed on Wednesday, after a pipeline leak in Alberta disrupted oil shipments. Imperial Oil Ltd said it had shut all production at its 220,000-barrel-per-day (bpd) Kearl oil sands site in Canada due to an outage of part of the Polaris diluent pipeline following the spill. Western Canada Select (WCS) heavy blend crude for October delivery in Hardisty, Alberta, traded at $9.40 per barrel below WTI, according to NE2 Canada [Read more]
Headlines
Imperial shuts Kearl oil sands operations after pipeline outage
Imperial Oil Ltd on Wednesday said it had shut all production at its 220,000 barrel-per-day (bpd) Kearl oil sands site in Canada due to an outage of part of the Polaris diluent pipeline following a leak. Timing to restart production is unknown, the company said in a release. Imperial is majority owned by U.S. major Exxon Mobil Corp . The pipeline supplies ultralight oil from Edmonton, Alberta to oil sands sites to be blended with bitumen for transport. Inter Pipeline , which owns [Read more]
Column: Cows, California and energy – a shocking lack of systemic thinking roils the world’s fifth largest economy
“Adding more milk to the milk already in a pail just gives you more milk, but adding another cow to the one you already have does not give you a larger cow. In the same way, pouring half the milk you already have into a second pail gives you two smaller amounts of milk, but dividing the cow in half does not give you two smaller cows. You may end up with a lot of hamburger, but the essential nature of ‘cow’ – a living system capable, among other things, of turning grass into milk, would be lost.” [Read more]
Keyera announces CEO transition
CALGARY, AB - The Board of Directors (the "Board") of Keyera Corp. (TSX: KEY) is pleased to announce that Dean Setoguchi, currently President and Chief Commercial Officer, will become President and Chief Executive Officer ("CEO") and join the Board effective January 1, 2021. David Smith, our current CEO, has announced his plans to retire from Keyera and the Board effective December 31, 2020. "On behalf of the Board, I wish to extend our deep appreciation to David for the 22 years he has [Read more]
Enbridge restores offshore pipelines after hurricane shutdown
Two natural gas pipelines that connect offshore U.S. Gulf of Mexico production platforms resumed operation on Tuesday, Enbridge Inc said, after hurricane-related shutdowns last week. Energy companies continued to restart offshore operations after completing damage assessments following Hurricane Laura, which tore through the Gulf of Mexico with up to 150 mile per hour (240 kmh) winds. Oil and gas producers have returned crews to 228 of 310 evacuated offshore facilities, the U.S. Interior [Read more]
PetroChina and Ovintiv end joint venture deal, agree to split Alberta assets
CALGARY - PetroChina Canada Inc. says it will be hiring engineers and technical specialists as it creates a new operating team after the end of an eight-year partnership in an Alberta oilfield. PetroChina and Ovintiv Inc. — formerly known as Encana Corp. — say they have agreed to terminate their joint venture formed in 2012 to own and develop Duvernay shale assets in west-central Alberta. The acreage is being split between the two and each will wind up with the same production of about [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Aug. 31 Senior Accounts Payable Analyst PetroChina Canada Calgary Aug. 30 IS Cybersecurity Analyst TC Energy Calgary Aug. 27 Category Analyst, Valves, Fittings, [Read more]
Oilsands diluent pipeline partly closed following spill near Fort McMurray
CALGARY - Operator Inter Pipeline Ltd. says it has partially shut down its Polaris pipeline system following a leak detected on Crown recreational land just east of the Fort McMurray airport in northern Alberta. According to the Alberta Energy Regulator, initial reports indicated about 550 barrels or 90,000 litres of light oil were released with no reported impacts to waterbodies or wildlife. The pipeline is used to move light petroleum such as condensate from Edmonton to the region where [Read more]
Ovintiv ends JV with PetroChina and becomes 100% owner in partitioned Duvernay position
No change to net acreage, production, proved reserves or 2020-21 scenarios DENVER - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that its subsidiary, Ovintiv Canada ULC, has closed an agreement with PetroChina Canada Ltd. (PCC) to terminate the parties' joint venture and transfer the ownership and operation of certain Duvernay shale assets in west-central Alberta. Ovintiv and PCC have agreed to partition the Duvernay acreage and associated infrastructure as each company will [Read more]
Heavy discount narrows, monthly trading cycle begins
Canadian heavy crude's discount versus West Texas Intermediate (WTI) narrowed on Tuesday, the first day of the monthly trading cycle. Western Canada Select (WCS) heavy blend crude for October delivery in Hardisty, Alberta, traded at $9.85 per barrel below WTI, according to NE2 Canada Inc. It settled the previous day at $10.60 under. Heavy oil prices are strong due to reduced output in Venezuela and Mexico, and shut-ins in Canada, a Canadian industry source said. Road repair season, during [Read more]