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OTTAWA - The federal government is providing up to $6 million in funding to help Indigenous communities in British Columbia and Alberta increase their participation in energy infrastructure projects. Natural Resources Minister Amarjeet Sohi made the announcement Wednesday. Funds will be provided through the Indigenous Natural Resource Partnerships program. A statement from Natural Resources Canada describes the program as a one-ear initiative aimed at supporting Indigenous business [Read more]

Oil prices fell on Wednesday after industry data showed U.S. crude inventories unexpectedly rose last week, erasing some gains from the last session that were stoked after Washington said it would delay tariffs on some Chinese goods. The move by U.S. President Donald Trump sent commodities, stocks and other assets higher because of optimism the effects of the trade war, already being felt in economies across the world, will be blunted. Oil prices surged by as much as nearly 5 [Read more]

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.  For the past month, our Wednesday Word to the Wise series has focused on various reasons why the AER’S LLR deemed liability values may not provide an accurate assessment of ARO. This week, our fourth article on the subject will [Read more]

OPEC and U.S. shale producers should reduce crude shipments into an oversupplied market, Continental Resources Chief Executive Harold Hamm said on Tuesday, as Iran sanctions and the U.S.-China trade dispute has roiled the market. Hamm, who heads one of the largest U.S. shale companies, urged energy producers to curb spending and production, echoing his position two years ago when cuts by the Organization of the Petroleum Exporting Countries (OPEC) paved the way for greater U.S. shale [Read more]

U.S. crude stocks rose unexpectedly last week while gasoline inventories increased and distillate stocks drew, data from industry group the American Petroleum Institute showed on Tuesday. Crude inventories rose by 3.7 million barrels in the week to August 9 to 443 million, compared with analysts' expectations for a decrease of 2.8 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 2.2 million barrels, API said. Refinery crude runs fell by 173,000 barrels per day, [Read more]