Two major pipelines bringing oil from Canada to the United States were hit by disruptions on Tuesday, with TransCanada Corp's Keystone line shutting down, while Enbridge Inc's Mainline pipeline was hit with outages and reduced flow rates.TransCanada's 590,000 barrel-per-day crude Keystone pipeline was shut due to a third party utility issue, according to a shipper on the line and traders. There was no estimated restart timeline for the line, one source said, citing a notice to [Read more]
Headlines
Gibson Energy Announces 2019 Capital Budget
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, Dec. 04, 2018 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today that its Board of Directors has approved a 2019 growth capital expenditure budget in the range of $200 million to $250 million, with nearly all investment directed towards sanctioned growth projects. Additionally, the Board of Directors has approved the allocation of approximately $30 million to $35 [Read more]
Put oil ‘crisis’ on first ministers’ agenda: Alberta, Saskatchewan premiers
Alberta and Saskatchewan want issues facing the oilpatch to be on the agenda when premiers meet with the prime minister later this week. Alberta Premier Rachel Notley and Saskatchewan Premier Scott Moe have made the request in an open letter to Justin Trudeau. They say the current agenda does not include any discussion of a crisis facing the energy industry. Alberta's oil is currently fetching bargain basement prices thanks to a growing glut and lack of pipeline capacity to get oil to [Read more]
LNG buyers try to ditch U.S. gas commitments
LONDON/SINGAPORE, Dec 4 - Several large liquefied natural gas (LNG) players have tried to offload their obligation to buy future cargoes from the United States, shedding excess commitments made years ago in the rush for new sources and commercial terms for the fuel. The sale of multi-year "strips" of LNG cargoes represent portfolio adjustments by the buyers rather than backlash against U.S. gas, several Asian and Europe-based traders said. But it was a timely reminder that there is only so [Read more]
Enbridge Announces Sale of Enbridge Gas New Brunswick Business
CALGARY, Dec. 4, 2018 /CNW/ - Enbridge Inc. ("Enbridge" or the "Company") (TSX: ENB) (NYSE: ENB) announced today that affiliates of Enbridge have entered into a definitive agreement for the sale of Enbridge Gas New Brunswick Limited Partnership and Enbridge Gas New Brunswick Inc. (together "Enbridge Gas New Brunswick" or the "Franchise") to Liberty Utilities (Canada) LP ("Liberty Utilities"), a wholly owned subsidiary of Algonquin Power and Utilities Corp., for a cash purchase price of CAD $331 [Read more]
Alberta and Saskatchewan Heavy Oil Property Divestiture
Zeal Energy Inc. is seeking a buyer for our Alberta properties. Zeal holds 100% ownership in 48 wells and 2215 Acres of P & NG rights in the Vermillion, Auburndale, Kitscoty and Lloydminster areas Current production from 2 wells is app 50 boe/day 12 wells are fully equipped and can be reactivated with minimum costs and can increase production to 200 – 250 boe/day Asking: $1.00 Drill ready Saskatchewan property Zeal is looking for a buyer for freehold mineral rights for [Read more]
Leading online energy equipment marketplace, Fuelled, announces new mobile app
Fuelled is pleased to announce the release of our new 2.0.6 mobile app. The free app is now available through App Store and Google Play. “As a digital company, Fuelled believes strongly in product and technology development” said Raj Singh, CEO and Founder of Fuelled. “We let the customer experience guide our development decisions and we will continue to invest in, evolve and grow our marketplace and maintain our dominant market position. Our goal was to make the user experience even better [Read more]
Bakken crude strengthens as Alberta seeks output cut
Bakken crude differentials firmed on Monday to the strongest level in a month, moving alongside rising Canadian prices after Alberta officials mandated oil-production cuts over the weekend, traders said. Bakken crude for delivery on the Enbridge Inc pipeline at Clearbrook, Minnesota, traded at a $5 per barrel discount to the calendar month average of U.S. crude futures, traders said. That is the strongest since Oct. 24 and up from a $9.40 discount on Friday. Crude from North Dakota's [Read more]
Cenovus CEO expects 2019 capital spending of $1.5 billion
The chief executive of Cenovus Energy Inc said on Monday that he expects the company to invest some $1.5 billion in 2019, in line with 2018 capital spending, after the Alberta government's mandated oil output cuts boosted Canadian crude prices. "My company will have a capital program that looks pretty similar to the program we had last year," Alex Pourbaix said in an interview. "We'll spend the better part of $1.5 billion, give or take, and that would not have been the case if the government [Read more]
Federal government failed to get oil moving, prompted oil cut: Opposition leader
WINNIPEG - Federal Conservative Leader Andrew Scheer says Alberta's decision to order a cut in oil production is a direct result of Prime Minister Justin Trudeau's failure to get Canadian energy to market. Scheer says there were three pipeline projects in the works when Trudeau became prime minister, and none have come to fruition. He says a Conservative government would ensure pipelines are built by having clear and consistent rules for development, and a special ministerial [Read more]