With the recent introduction of Erin O’Toole’s new shadow cabinet, there has been a change of Energy Critics in Ottawa. Transitioning MP Shannon Stubbs, who served as the official opposition Shadow Minister for Natural Resources since her election in 2015, shared her comments with The BOE Report on the challenges to the Canadian energy industry over the last five years. When the world’s largest sovereign wealth fund divested from four Canadian oilsands companies in May 2020 over concerns [Read more]
Headlines
ConocoPhillips sees global oil demand returning
U.S. oil producer ConocoPhillips sees global demand returning to 100 million barrels per day and growing from there, a senior executive said on Thursday. The view stands in contrast to rival BP Plc , which sees the coronavirus pandemic leaving a lasting effect on global energy demand, though ConocoPhillips still expects "quite a bit of uncertainty next year" in oil demand, Senior Vice President Dominic Macklon said during a Q&A with Raymond James. Capital spending in 2021 will be [Read more]
CAODC responds to Throne Speech, looks forward to energy industry helping lead recovery of Canadian economy
In today’s Speech from the Throne, the Federal Government acknowledged the important role natural resource industries will play in Canada’s economic recovery. Governor General Julie Payette pledged to continue to support Canada’s manufacturing, energy, and forestry industries, and stressed competitiveness as a key factor in ensuring Canadian businesses can survive and provide good jobs. “It was encouraging to hear the government acknowledge how important Canadian energy truly is, not only [Read more]
Saskatchewan Premier Moe says throne speech lacks support for farms, energy
REGINA - Saskatchewan's premier says the federal throne speech lacks support for the energy and agriculture industries. Scott Moe and other premiers had also asked Ottawa to increase funding for health care ahead of today's speech. Moe says the address failed to mention the premiers' request although he noted that Prime Minister Justin Trudeau has indicated he's willing to negotiate. Moe says the energy industry and farmers don't appear to be priorities for the Liberals. He says he [Read more]
Oil edges up to $40, eyeing Libya and U.S. inventories
Oil edged up to around $40 a barrel on Wednesday supported by rising investor risk appetite and a report that U.S. fuel inventories fell, although rising crude supply and concern of stalling demand capped gains. European equities rose after better-than-expected German manufacturing data, giving oil a boost. The American Petroleum Institute said U.S. inventories of gasoline and distillate fuel dropped, while those of crude rose. “The rebound in risk appetite today is lifting oil prices a [Read more]
Column: Formula 1/Hypocrisy legend Lewis Hamilton signs on for a ridiculous “environmental awareness” racing series to roll through pristine wilderness – and we’re losing the PR battle to these loons?
People often comment to me that, with respect to the energy/hydrocarbon debate, we can get somewhere if we just “have a conversation”. Surely, the reasoning goes, if reasonable people sit down and discuss, we can move the needle in a positive way. I don’t know if that is a realistic scenario. The majority of rational people simply don’t care about energy for the same reason you’re not presently concerned with whether you’ll starve to death next month. Food (and energy) will be there [Read more]
XI Technologies: Drilling Top Tens for the First Half of 2020
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like to receive our Wednesday Word to the Wise in your inbox, subscribe here. It’s no secret that this has been one of the hardest drilling seasons in recent memory. The combined crisis of COVID-19 and international price wars have led to dramatically slashed capital budgets, forcing many companies to reduce [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 Sep. 21 Remote Sensing Developer Vertex Victoria Sep. 21 Natural Gas Marketing Representative ARC Resources Calgary Sep. 21 Learning Management System [Read more]
Canadian crude-by-rail exports fall to another eight-year low in July
CALGARY - Canadian exports of crude oil by rail fell to another eight-year low in July despite the gradual recovery of North American fuel demand from low levels due to measures taken to control the COVID-19 pandemic. The Canada Energy Regulator says rail shipments of oil in July fell to about 39,000 barrels per day, down from 42,820 bpd in June (also an eight-year low). Shipments were more than 10 times as high in February, when they reached a record 412,000 bpd. July shipments [Read more]
New national poll shows Canadians are most concerned about the economy, want a strong natural gas and oil sector to drive recovery
Calgary, AB (Sept. 22, 2020) – The state of our country’s economy is the biggest issue of the day for Canadians, according to a new poll from IPSOS. The poll has 44 per cent of Canadians choosing the economy as the biggest priority for government, even putting it ahead of healthcare (chosen as the top issue by 36 per cent of those surveyed). All other issues fall far down the list of concerns.When it comes to strategic direction, nearly two-thirds of Canadians (64 per cent) say that natural gas [Read more]