Pieridae Energy moved closer to building a liquefied natural gas (LNG) export terminal on Canada's East Coast after taking ownership of fields from Royal Dutch Shell which will feed gas into the plant, the company said. The Goldboro LNG terminal would be the first on Canada's East Coast and compete with the growing number of plants on the U.S. Gulf Coast, hoping its shorter distance to Europe and further west will help sell its LNG by cutting shipping costs. Pieridae said in a statement [Read more]
Headlines
Oil ticks up as rising crude stocks are offset by products demand
Oil prices rose slightly on Friday as concern over an economic slowdown in China, the world’s biggest oil consumer, was countered by bullish signals from both the Chinese and U.S. refining sectors. U.S. West Texas Intermediate (WTI) crude futures edged up by 58 cents to $54.51. Both contracts were on track for weekly declines of less than 1%. Erasing earlier losses, global benchmark Brent crude oil futures rose 24 cents to $60.15 a barrel. In the third quarter, China’s economic growth [Read more]
Swedish activist Greta Thunberg in Edmonton for climate rally; counter-rally planned
Albertans are planning to hit Edmonton's streets today to support — or protest — Swedish climate campaigner Greta Thunberg's visit. Climate Justice Edmonton has announced that the 16-year-old Stockholm student will join a march from a downtown Edmonton park to a climate rally at the Alberta legislature. A group of oil and gas supporters is planning a counter-rally at the same time. United We Roll, the group that organized a pro-pipeline convoy to Ottawa in February, says its members are [Read more]
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Column: For Alberta, This Election Means Everything
Much commentary around the current federal election has centered on the apparent lack of a focus on policy instead of arguing about who did the most embarrassing thing in their youth (or as a 29 year old school teacher). It makes it seem like this election is about nothing, but nothing is further from the truth for Alberta and for the oil industry. It’s no secret that we face a somewhat hostile environment in terms of public opinion outside our provincial borders these days. Partly this is [Read more]
Canadian Gas Association open response to CBC Article by Kim Brunhuber “Climate Change’s Next Target – Your Gas Range”
Kim Brunhuber’s article is another in a line of comments suggesting the electrification of our energy use would be straightforward. We at the Canadian Gas Association disagree. To put some independent analysis into the discussion we commissioned ICF to examine electrification under various scenarios in Canada. The conclusions of their work make it clear that electrification would be extremely expensive, and of limited benefit for emission reductions versus a more cost-effective approach that [Read more]
Painted Pony Announces Asset Sale
CALGARY, Alberta, Oct. 17, 2019 (GLOBE NEWSWIRE) -- Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) is pleased to announce that it has entered into a definitive agreement to sell a 75% working interest in 11,280 gross acres (8,460 net acres) in the north east British Columbia Montney for cash consideration of $45 million. The proposed transaction is expected to close on or about October 31, 2019. The proposed transaction is subject to closing conditions. The acreage [Read more]
Advantagewon Oil Corp., Provides Update on Its Entrance into the Canadian Oil Patch. Reactivation Work Completed on the First Canadian Well, 90 BOPD Brought onto Production
Advantagewon Oil Corp., (CSE: AOC) (OTCQB: ANTGF), (the "Corporation", "Advantagewon", "AOC") announced today that it had completed on the first Canadian based well of its three well joint venture reactivation plan what the Corporation announced, via press release, back on September 26th, 2019. The first of the three well initiative is producing, AOC had proposed a reactivation that would produce 30 Barrels of Oil Per Day ("BOPD") as a gross production number. Upon further evaluation of the [Read more]
Alberta truck convoy plans counter-protest to climate rally with Greta Thunberg
EDMONTON - A group oil and gas supporters is planning a counter-rally when Swedish climate activist Greta Thunberg shows up at the Alberta legislature. Glen Carritt, who organized the United We Roll convoy that travelled to Ottawa in February, says a similar convoy will start in Red Deer, Alta., on Friday morning and make its way to Edmonton. Carritt says the trucks are expected to arrive at the legislature at noon, when a climate rally is to begin with 16-year-old Thunberg. He says [Read more]
U.S. becomes net exporter of crude and fuel for 2nd week in a row for first time on record
The United States became a net exporter of crude and petroleum products for a second week in a row for the first time on record last week, data from the Energy Information Administration showed on Thursday. The U.S. exported about 31,000 barrels per day (bpd) of crude and petroleum products on a net basis last week after exporting a net 30,000 bpd a week earlier, the data showed. Meanwhile, refinery utilization rates in the U.S. East Coast slid to 59.8%, the lowest level since November [Read more]