CALGARY, July 4, 2019 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today that it successfully placed into service a diluent and bitumen blend pipeline connection to Canadian Natural's Kirby North oil sands project. The connection is underpinned by a long-term take-or-pay agreement that will provide Inter Pipeline with stable cash flow that is not dependent on commodity prices or volume shipped. "We are pleased to provide transportation services to this high-quality oil [Read more]
Headlines
Oil prices dip on signs of slowing U.S. demand, economic concerns
Oil prices fell on Thursday, weighed down by data showing a smaller-than-expected draw on U.S. crude stockpiles along with worries about the global economy. U.S. West Texas Intermediate (WTI) crude futures were down 23 cents or 0.40% at $57.11 per barrel. WTI closed up 1.9% on Wednesday. Markets appeared largely unmoved by the detention in Gibraltar by British Royal Marines of a supertanker possibly carrying Iranian crude oil bound for Syria, as tensions between Iran and the United [Read more]
Tourmaline Oil Corp. Announces Approval Of Normal Course Issuer Bid
CALGARY, July 4, 2019 /CNW/ - Tourmaline Oil Corp. (TSX – TOU) ("Tourmaline") is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted the notice of Tourmaline's intention to commence a normal course issuer bid (the "NCIB"). The NCIB allows Tourmaline to purchase up to 13,602,507 common shares (representing 5% of its 272,050,159 outstanding common shares as of June 30, 2019) over a period of twelve months commencing on July 8, 2019. The NCIB will expire no later than [Read more]
Point Loma Resources Announces Operational Update of Wizard Lake Rex Oil Discovery and Issuance of Settlement Units
CALGARY, AB / ACCESSWIRE / July 4, 2019 / Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to announce an update on production and upcoming development drilling of the Corporation's Wizard Lake Rex oil discovery and the issuance of Settlement Units (as defined below). Highlights: The Wizard Lake 16-17-48-27W4 Rex oil discovery well was placed on production June 5, 2019. Oil production for the month of June is estimated at 4,280 bbls over a [Read more]
Universal Geomatics Solutions Corp. becomes an Aboriginal Procurement Champion
As a Business Member of the Canadian Council for Aboriginal Business (CCAB) since 2013, Universal Geomatics Solutions Corp. (UGS) is proud to announce that it has become a CCAB Aboriginal Procurement Champion, supporting both UGS’s and the CCAB’s efforts towards economic reconciliation. “UGS supports Truth and Reconciliation and being a business that supports Indigenous inclusion in all aspects of our business is integral to our success and those we work with. We value our relationships with [Read more]
An amateur, natural gas-defaming propaganda “report” by six motley Rockefeller-backed researchers captures global media attention – how does this happen?
You find the craziest sh*t on the internet. And I do mean sh*t. Consider the following group: Aiqun Yu from California worked for 18 years with China Central Television focusing on environmental and social issues. Bob Burton from Australia is an anti-coal activist and co-author of “Secrets and Likes - The Anatomy of an Anti-Environmental PR Campaign". Christine Shearer from California has a “background in interdisciplinary climate change and energy research” – backed by a PhD in Sociology. [Read more]
Heavy oil differential tightens as inventories dip
Canada's heavy crude differential to U.S. futures narrowed on Wednesday:* Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, last traded at $12.95 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Tuesday, WCS for August delivery settled at $13.40 a barrel below WTI crude futures.* Falling western Canadian inventories helped lift prices, one industry source said. Crude stocks are declining after hitting record highs [Read more]
Alberta Government offers relief for shallow gas producers
Alberta's government is offering much needed relief to its struggling natural gas industry. In particular, municipal tax rates on shallow gas and pipelines will be reduced by 35%. Read the release below from the Alberta Government: The Government of Alberta is acting swiftly to provide urgent, timely tax relief for shallow gas producers in dire straits. Economic mismanagement from the previous administration combined with low commodity prices have left natural gas producers on the brink of [Read more]
U.S. oil drillers cut rigs for first week in three -Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as drillers follow through on plans to cut spending this year.Drillers cut five oil rigs in the week to July 3, bringing the total count down to 788, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Wednesday. That compares with 863 rigs operating during the same week a year ago.The rig count, an early indicator of future output, declined [Read more]
Indigenous group says Trans Mountain bid could be ready next week
CALGARY - An Indigenous-led group says it will soon be ready to make a bid for majority ownership of the controversial Trans Mountain pipeline currently owned by the federal government. The group, called Project Reconciliation, says it will be prepared as early as next week to talk with Ottawa about its proposal for a 51 per cent stake in the pipeline. Project Reconciliation says the bid will be underwritten by contracts with pipeline customers and not rely on taxpayers. [Read more]