VANCOUVER, June 26, 2019 /CNW/ - Pacific Oil & Gas Limited (PO&G) today announced that its wholly-owned subsidiary, Woodfibre LNG Export Pte Ltd. (Woodfibre LNG Export), has signed a binding LNG Sales and Purchase Agreement (SPA) with BP Gas Marketing Limited (BP), a wholly-owned indirect subsidiary of BP Plc, for the delivery of liquefied natural gas (LNG) from PO&G's Woodfibre LNG export facility in Squamish, British Columbia. Under the terms of the SPA, BP will receive 0.75 [Read more]
Headlines
Pieridae Energy to Purchase Shell Canada Foothills-Area Production & Assets: 28,623 BOE/d and Associated Midstream Assets, Including Three Deep-Cut Gas Plants
Highlights: Acquisition immediately accretive to the Company Another major step forward, now fully supplying Train 1 at the Goldboro LNG facility Pieridae becomes a major player in the Alberta midstream and upstream industry Shell Canada Energy to take an equity stake in Pieridae Other key stakeholders to increase their ownership positions CALGARY, Alberta, June 26, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to [Read more]
Diversify the economy? Thanks tips, but it’s far harder than armchair quarterbacks think
Have you ever heard of the Dutch disease? No, it isn't a product of Amsterdam’s legendary red-light district; the concept originates with economists, who are in every imaginable way the opposite of a red-light district. One could even imagine the red light district going dark for the duration of an economists' conference; some things just aren't worth it. The term Dutch disease refers to an economic condition that can confound nations when an abnormally successful industry tilts the table [Read more]
CAPL Conference 2019 – Registration Now Open!
The CAPL 2019 Annual Conference is right around the corner and early bird pricing is available until July 15! The 2019 Conference Committee has been hard at work building a Conference that we hope will “Ignite the Conversation”. This year’s conference will provide shorter, concurrent education sessions to allow delegates to customize their learning experience, our first ever “CAPL Talks” – a series of short topical discussions, and multiple activities and networking opportunities, in and around [Read more]
BC’s mandatory closure laws will force companies to spend up to $64 million on abandonments in the next 2.5 years – XI Technologies video
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. This week, we have created a video that looks at the financial impact of abandonment legislation on BC operators. If you'd like to receive our Wednesday Word to the Wise in your inbox, subscribe here. The announcement of new Dormancy and Shutdown Regulation and Comprehensive Liability Management Plan (CLMP) legislation, [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 Jun. 25 Wellsite Administrator West Lake Energy Lloydminster Jun. 25 Environmental Coordinator Kelt Exploration Ltd. Calgary Jun. 25 Coordinator of [Read more]
Russia leads as top crude supplier to China, overtakes Saudi
Russia became the largest crude oil supplier to China in May, supported by robust demand from private refiners and alongside a fall in supplies from Iran. Imports from Russia came in at 6.36 million tonnes in May, or 1.50 million barrels per day (bpd), data from the General Administration of Customs showed on Tuesday. On a barrels per day basis, imports were up 4% from a year ago, but were flat versus April when China’s total crude oil imports hit a monthly record. For the first five [Read more]
Operate More Efficiently And Help Increase Profits
Billions of dollars in public and private capital projects are either planned or currently under construction, and businesses operating in the oil and gas sector need to prepare themselves to capitalize on opportunities. Those set to action operationally will make initial gains vis-a-vis their competitors, but it’s the businesses that marry their on-the-ground operational sophistication with a streamlined back office support process that will ultimately outlast and outperform their industry [Read more]
As Trump’s sanctions bite, Iran’s oil exports slide further in June
Iranian crude exports have dropped so far in June to 300,000 barrels per day (bpd) or less after the United States tightened the screw on Tehran’s main source of income, industry sources said and tanker data showed, deepening global supply losses. The United States reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between Tehran and six world powers. Aiming to cut Iran’s sales to zero, Washington in May ended sanctions waivers to importers of Iranian [Read more]
IEA concerned about Middle East tensions, stands ready to act
The International Energy Agency (IEA) is very concerned about the impact that tensions in the Middle East may have on global energy security and will act if there is any physical disruption to supplies, its executive director said on Monday. Oil prices rose on Monday, extending large gains last week that were prompted by tensions between the United States and Iran, although concerns about the possibility of weakening demand kept a lid on gains. Strong growth in the price of U.S. shale oil [Read more]