The discount on Canadian heavy crude widened slightly versus U.S. benchmark West Texas Intermediate (WTI) crude on Wednesday, amid large Alberta oil inventories and congested transportation. Weakness in Canadian heavy oil prices also reflects the impact of IMO regulations, which require ships to emit less sulphur, said John Coleman, principal research analyst at consultancy Wood Mackenzie. Western Canada Select (WCS) heavy blend crude for February delivery in Hardisty, Alberta, was trading [Read more]
Headlines
Supreme Court to hear B.C. case attempting to halt Trans Mountain expansion
OTTAWA - Canada's high court will hear arguments Thursday on whether British Columbia can stop Alberta from shipping heavy oil through the Trans Mountain pipeline without a permit. B.C.'s NDP government brought the case in 2018 as it worked to fulfil an election promise to stop the Trans Mountain pipeline expansion project. The province argues it should be able to limit the contents of the pipeline, because it would bear the brunt of environmental harm from any spill. The federal [Read more]
Oil prices slip on concerns U.S.-China trade deal may not boost demand
Oil prices slipped on Wednesday on concerns that the pending Phase 1 trade deal between the United States and China, the world's biggest crude users, may not lead to more fuel demand as the U.S. intends to keep tariffs on Chinese goods in place. U.S. Treasury Secretary Steven Mnuchin said late on Tuesday that the tariffs would remain even as a trade deal is set to be signed on Wednesday. That could temper China's oil demand growth by limiting its access to its second-largest trading partner. [Read more]
Pipeline at centre of B.C. conflict is creating jobs for First Nations: chief
A pipeline at the centre of a conflict between hereditary chiefs and a natural gas company in northern British Columbia is creating jobs for Indigenous people and lifting communities from poverty, says an elected chief of a band that supports the project. All 20 elected band councils along the Coastal GasLink pipeline route have signed benefits agreements with the company. The Haisla Nation in Kitimat is among them and Chief Coun. Crystal Smith said the project will help the community become [Read more]
Group cleaning up old oil wells says Alberta government rules inadequate
EDMONTON - A group tasked with cleaning up thousands of abandoned energy facilities in Alberta says the province's rules for ensuring polluters reclaim their wells before selling them off are inadequate. The industry-funded Orphan Well Association made the criticism in a letter to Alberta's energy regulator, which is considering a proposed transfer of hundreds of toxic gas wells, pipelines and other facilities from an energy giant to a much smaller company. "The (association) has seen a [Read more]
Column: Take a chance on tech – embracing technological innovation adds strength to a petroleum industry in need of enthusiasm
Not that very long ago, I succumbed and downloaded the Starbucks app to my phone. It was unpleasant to do so for all sorts of reasons. Being a fan of all kinds of coffee, it felt like sort of a false promise, like being a creep and leading someone on – I had no intentions of any sort of monogamous coffee behaviour. It also felt invasive, because it clearly was gathering intel, and it wanted money, and its phony cheerfulness (shove that “Good morning, Terry!” up your virtual a__ you little [Read more]
XI Technologies: Why LMR values aren’t a good indicator of a company’s liabilities
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. In XI’s final article of 2019, it was pointed out that the Alberta Energy Regulator (AER) has stopped providing monthly detailed liability management rating (LMR) reports on all assets in the province. Information that was previously [Read more]
Saskatchewan, Tatagwa – Midale Prospect Summary
Elcano Exploration Inc. is seeking proposals from qualified parties to further develop our Midale prospect at Tatagwa, Saskatchewan. Elcano purchased five 2D trade lines to help define pool potential based on 14m net pay in the Midale Fm vuggy zone of the key well at 5-19-006-16W2. Core Analysis and petrophysical evaluation of the key well pay interval have excellent reservoir and saturation parameters. Seismic mapping supports a structurally favorable pool area over at least two sections. Hz [Read more]
Unleashing our Economy: Rewarding Energy Workers and Businesses
The Petroleum Joint Venture Association is pleased to announce that the Hon. Pierre Poilievre MP will be the guest speaker at the PJVA Breakfast Jan 31st at The Calgary Petroleum Club. Topic: “Unleashing our Economy: Rewarding Energy Workers and Businesses” Mr. Poilievre was born and raised in Calgary. He is a five-term Member of Parliament and the Conservative Shadow Minister of Finance and is a strong supporter of our energy sector and a fair deal for Alberta. Mr. Poilievre believes in [Read more]
Coastal GasLink makes new request to meet with First Nation pipeline opponents
VANCOUVER - The president of a company building a natural gas pipeline across northern British Columbia is renewing a request to meet with the hereditary clan chiefs of a First Nation who say the project has no authority without their consent. Coastal GasLink president David Pfeiffer says in a letter Tuesday to Na'moks, who leads one of five clans of the Wet'suwet'en Nation, that the company's preference is to resolve the dispute over the pipeline through meaningful dialogue. Na'moks could [Read more]