Canadian National Railway Co's chief executive on Wednesday said crude-by-rail shipments may help earnings during the first three months of 2020, despite softer market conditions overall. CN, Canada's largest railroad, is ramping up its service following a crippling eight-day strike that ended last week, as it cuts jobs to meet softer economic conditions and less demand for freight services. "This year, crude by rail still hasn't got its traction, which it may early year," CN CEO JJ Ruest [Read more]
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Canadian Natural Resources plans to spend C$250 million more in 2020
Canadian Natural Resources Ltd said on Wednesday it expects to spend C$4.05 billion in 2020, C$250 million more than in 2019, after the Canadian province of Alberta lifted some curtailments on new oil wells last month. The Alberta government in November said drilling of new conventional oil wells would not be subject to government production limits, in a bid to boost its ailing economy. Canadian Natural Resources, which operates in Western Canada as well as in the UK North Sea and offshore [Read more]
Oil rises before OPEC+ meet, lifted by drop in U.S. crude stocks
Oil prices rose on Wednesday ahead of a meeting of OPEC and its allies to discuss whether to extend production curbs to support the market, while industry data showing that U.S. crude stockpiles fell more than expected helped to lift prices. U.S. West Texas Intermediate (WTI) crude futures were up $1.68, or 2.97 %, at $57.94. Brent crude futures were up $1.74, or 2.85%, at $62.75 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) and allies that include Russia - a [Read more]
Column: Canada is a high per capita emitter? How DARE you!
Do you ever feel like the mock-producer in “This is Spinal Tap”, engaged in a conversation with guitarist Nigel Tufnel, as Tufnel explains how his amps are special because they go to 11? The producer points out, yeah, but full volume is full volume, and you can call it whatever you want but it’s just full volume. Tufnel listens patiently then looks him dead in the eye and says, as if to an idiot, “These go to 11.” We, the great masses of Canada, are trying to explain to a dogmatic minority [Read more]
XI Technologies: December 2019 Expiring Land Report – Are there opportunities for you?
Each week, XI Technologies scans its 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. Every few months, we like to take a look at expiring land because it can provide useful business development intel for service companies and E&Ps alike. For service companies, expiring lands provide insight into where drilling [Read more]
Pine Cliff Energy Ltd. Announces Management Update
Calgary - Pine Cliff Energy Ltd. (TSX: PNE) ("Pine Cliff" or the "Company") announces the resignation of Cheryne Lowe, Pine Cliff's Chief Financial Officer and Corporate Secretary to pursue other opportunities, effective December 4th, 2019. The Company would like to thank Ms. Lowe for her leadership and contributions and wish her all the best in the future. The Company has appointed Alan MacDonald Chief Financial Officer and Corporate Secretary, effective December 4, 2019. Mr. MacDonald is a [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 Dec. 3 Internal Communications Intern ARC Resources Calgary Dec. 2 Cloud Solutions Architect AltaGas Calgary Dec. 2 Land Management Specialist Regional [Read more]
Trans Mountain pipeline construction milestone celebrated in Alberta
ACHESON, Alta. - The CEO of Trans Mountain says he's "a little greyer" than he was 10 years ago when planning began for an expansion of the Edmonton-to-Burnaby oil pipeline but he's still proud to oversee the official launch of Alberta construction. Ian Anderson, who switched employers when the pipeline and its proposed expansion were sold to the federal government in 2018 for $4.5 billion, repeated a vow Tuesday to have expansion project pipe in the ground before Christmas. Speaking in a [Read more]
Diluent recovery unit proposed by Gibson Energy to boost crude export room
CALGARY - Gibson Energy Inc. says it will build a 100,000-barrel-per-day diluent recovery unit near the Alberta oil marketing hub of Hardisty, a strategy expected to free up room in pipelines and on railcars for oilsands exports. The Calgary-based company says it will partner with US Development Group, LLC, to construct and operate the facility, which would open in 2021. Diluent, a light oil mixed with sticky, heavy bitumen to allow it to flow in a pipeline, makes up as much as a third of [Read more]
Heavy discount widens to nearly one-month high as inventory builds
The discount on Canadian heavy crude widened to a nearly one-month high versus U.S. benchmark West Texas Intermediate (WTI) crude on Tuesday due to high inventory levels. Western Canada Select (WCS) heavy blend crude for January delivery in Hardisty, Alberta, was trading at $22.40 per barrel below WTI, according to NE2 Canada Inc, compared with Monday's settle of $21 below. The heavy differential reached its widest level for the benchmark month since Nov. 6. The wider differential was [Read more]