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Headlines
Teck Resources takes $20.6B Frontier oilsands mine project to joint hearing
FORT MCMURRAY, Alta. - In a sign that the oilsands mining industry can't be counted out just yet, public hearings into the proposed $20.6-billion Frontier Oil Sands Mine project begin in Fort McMurray, Alta., today. International oil companies are cutting their oilsands mine investments and many analysts say the long-life returns don't justify the high upfront costs, but Vancouver-based Teck Resources Ltd. says it is committed to its megaproject which could be producing oil by 2026. "We [Read more]
NAFTA Upgrading – NAFTA 2.0 and the Impact on the Canadian Oil and Gas Industry
Energy commodities (including oil, natural gas, coal, electricity, and refined petroleum products) are a significant component of Canada’s trade, accounting for one-fifth of Canada’s total exports in 2016, with nearly all of them going to the United States. Free trade under NAFTA in North America led to significant benefits for Canada in the form of increased trade, significant output and productivity gains in the manufacturing sector, and a greater variety of products available to Canadians. [Read more]
TransGlobe Energy Corporation Announces an Operations Update
This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 (“MAR”). Upon the publication of this Announcement, this inside information is now considered to be in the public domain. CALGARY, Alberta, Sept. 25, 2018 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) announces an operations update. All dollar values are expressed in US dollars unless otherwise [Read more]
Washington wants Canada to improve spill plan for U.S. spur of Trans Mountain
OLYMPIA, Wash. - Washington's Department of Ecology wants the Canadian government to fix what it calls "deficiencies in critical areas" of its spill response plan for a spur of the Trans Mountain pipeline that runs through the state. When Canada purchased the Trans Mountain pipeline and assets for $4.5 billion, it also bought the Puget Sound line, which carries Alberta oil to four Washington refineries. The state's Ecology Department says in a news release that the Canadian government, as [Read more]
Bellegarde says pipeline expansion may go forward if shipping terminal moved
OTTAWA - The national chief of the Assembly of First Nations says the federal government would find it easier to get the Trans Mountain pipeline built if it moves the route and the marine shipping terminal to avoid Indigenous communities that are oppose the project. Perry Bellegarde said many Indigenous communities believe in the need to diversify export markets for Canadian resources through work to transition to a clean energy economy. However, he acknowledged there are some communities [Read more]
Oil market hears echoes of 2007/8
LONDON (Reuters) - Eleven years ago, on Monday Sept. 24, 2007, the price of Brent crude closed just below $79 per barrel, not far from where it is today. Three days later, Brent closed above $80 for the first time in history. Less than 10 months after that, prices closed at an all-time high of $146. Past prices are not necessarily a guide to the future, but the events of 2007/08 are a reminder that price moves are highly non-linear, especially around turning points in the cycle. Price [Read more]
TransCanada to start Keystone XL construction in 2019
LINCOLN, Neb. - The developer of the Keystone XL oil pipeline plans to start construction next year, after a U.S. State Department review ordered by a federal judge concluded that major environmental damage from a leak is unlikely and could quickly be mitigated, a company spokesman said Monday. TransCanada spokesman Matthew John said the company remains committed to moving ahead with the project following years of reviews from federal and state regulators. The company has already started [Read more]
Point Loma Resources Announces Entrance into Leduc Area Rex Oil Play and Provides Drilling and Operational Update
Calgary, Alberta (FSCwire) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the “Corporation” or “Point Loma”) announces the acquisition of lands providing entrance into the Rex (Upper Mannville) oil play in the Leduc area of Alberta and provides an operational update across its core focus areas. With the addition of these properties and a large land position in excess of 160,000 net acres (over 250 net sections) targeting the Mannville (Upper and Lower), Banff and Duvernay oil opportunities and [Read more]
Pembina Pipeline Corporation Announces New Montney Infrastructure and Increases 2018 Guidance
CALGARY, Sept. 24, 2018 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is pleased to announce an increase to its 2018 Adjusted EBITDA guidance range to $2.75 to $2.85 billion. The Company is also pleased to announce that in conjunction with incremental volume commitments from customers on the Peace pipeline, Pembina will be developing additional pipeline and terminalling infrastructure in the Wapiti region near Grande Prairie, Alberta and in northeast [Read more]