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. With our industry currently dealing with the dual challenges of physical distancing due to the COVID-19 outbreak and an oil price crash due to an international price war, it is difficult to anticipate what life will be like on the [Read more]
Headlines
Petrus Resources announces termination of previously announced disposition and operations update
CALGARY, Alberta - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) announces the termination of its previously announced disposition of its oil and natural gas interests in the Foothills area (the "Disposition"). Petrus has been advised in writing by the purchaser that they are terminating the asset purchase and sale agreement (the "Agreement") providing for the Disposition. The Disposition was to be for total consideration of $1.8 million, subject to customary closing conditions [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 Mar. 31 Research Associate Brunel North York Mar. 31 Construction Coordinator Brunel Fort Saskatchewan Mar. 29 Electrical Instrumentation & Controls, [Read more]
Unifor unable to accept the Co-op Refinery final offer
REGINA - After carefully analyzing the final offer tabled on March 30, 2020 by Co-op Refinery, the Unifor Local 594 Bargaining Committee is recommending the membership reject the offer when the forced final vote is conducted by the Saskatchewan Labour Board. The Co-op's latest final offer, their second in five days, includes new concessions not included in the Special Mediators' report. "We stand by the recommendations of Premier Scott Moe's mediators," said Jerry Dias, Unifor National [Read more]
OPEC rift widens as group fails to set date for emergency talks
A rift in the Organization of the Petroleum Exporting Countries (OPEC) has widened after members failed to agree unanimously on an emergency low-level meeting to discuss a market collapse that has seen global oil prices hit 18-year lows. OPEC president Algeria, which has been instrumental in organising the producer group's efforts to support the market, had been among the members pushing for a gathering of OPEC's Economic Commission Board (ECB) in April. But at least four members, [Read more]
Statement by Minister Seamus O’Regan Following the Announcement by TC Energy of a Final Investment Decision for the Keystone XL Project
OTTAWA, March 31, 2020 /CNW/ - Today, Canada's Minister of Natural Resources, the Honourable Seamus O'Regan, released this statement following the announcement by TC Energy of a final investment decision for the Keystone XL project: "This is good news for our oil and gas industry. It comes at a time when the industry needs it. It means thousands of good, well-paying jobs for the highly-skilled workers the industry needs now and into the future. "The Government of Canada has always been a [Read more]
TC Energy to Build Keystone XL Pipeline
Construction will lead to thousands of new jobs, billions in economic stimulus and enhanced North American energy security CALGARY, Alberta and HOUSTON, March 31, 2020 (GLOBE NEWSWIRE) -- – News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it will proceed with construction of the Keystone XL Pipeline Project (the Project), resulting in an investment of approximately US$8.0 billion into the North American economy. “We appreciate the [Read more]
Crude rises after U.S., Russia agree to oil market talks
Oil recovered some ground on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin agreed to discuss stablising energy markets, but prices remain near 18-year lows as the coronavirus shutdown destroys demand. U.S. crude was up by 20 cents, or 0.94%, at $20.36 a barrel, after settling down at $20.09, the lowest close since February 2002. Brent crude was up by $3.45, or 15.22%, at $26.22 a barrel after closing at $22.76 in the previous session, the lowest close since [Read more]
Imperial provides corporate update, reduces spending by $1 billion
CALGARY, Alberta--(BUSINESS WIRE)--Imperial today provided an update on its operations and corporate guidance in response to the market conditions resulting from the COVID-19 pandemic and decreases in commodity prices. “The current COVID-19 pandemic, as well as business and commodity price environment, poses many challenges for our industry,” said Brad Corson, chairman, president and chief executive officer of Imperial. “Imperial’s integrated business model, high quality asset portfolio, and [Read more]
ELM Inc. Announces Completion of Record-Breaking Winter Season
CALGARY, Alberta (March 31st, 2020) - ELM Inc. ("ELM") is pleased to announce that it has successfully completed a record-breaking winter operating season, managing over $16 million in project costs, and supporting our clients in their efforts to reduce their environmental liabilities. “We are proud of the coordinated, systematic execution delivered by our expert team, many of whom have been working together for more than 20 years. They welcomed the challenge of achieving such an ambitious [Read more]