CALGARY - The National Energy Board says crude-by-rail exports from Canada rose to a record 229,544 barrels per day in August. That's up more than 11 per cent from 206,624 bpd in July and 91 per cent from just under 120,000 bpd in August 2017. Pipeline export constraints are being blamed for a glut of oil in Western Canada that have caused the price discount to peak at more than US$50 per barrel for Western Canadian Select oilsands blend versus New York benchmark West Texas [Read more]
Headlines
Pieridae Eligible to Benefit From Additional Conditional Loan Support From the German Government
CALGARY, Alberta, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae”) (PEA - TSXV) is pleased to announce that its proposed financing of upstream activities within the Goldboro LNG project has received a written confirmation of eligibility in principle for up to US $1.5 billion of untied loan guarantee by the German federal government under its UFK program (Bundesgarantien für ungebundene Finanzkredite). This confirmation not only satisfies a critical condition leading to the [Read more]
Gray Dusenbery Oil and Gas LP – Strategic Alternatives Process
Gray Dusenbery Oil and Gas LP (“GDOG” or the “Company”) has engaged Sayer Energy Advisors to assist with a strategic review of its business and assets. GDOG’s main producing properties are located in the Strachan-Ferrier, Ricinus, Rosevear and Cooking Lake areas of Alberta (the “Properties”). Alternatives may include but are not limited to the sale or farm-out of the Properties or a sale of the shares of the Company. The Company is a private, limited partnership founded in 2009 which presents [Read more]
Making Canada Great Again: Ignore smear campaigns, higher per capita emissions are the noble price we pay as the world’s natural resource pantry
Please send this message on to everyone in the world: Not one more word of apology. No more flustered grovelling because our per capita emissions are higher than average; they are that way for a reason. No more bowing to demands that Canada enforce outsized emissions cuts, when the reason for the emissions in the first place is that we hand other countries their building materials - we do the dirty work for them. As we wobble on our axis as an exporting nation, cross-threaded on everything [Read more]
Alberta’s Notley announces candidacy, slams Kenney in speech to NDP members
EDMONTON - Rachel Notley has made it official, announcing she will run again in the next election, touting her government's record while slamming opponent Jason Kenney as a self-serving policy huckster. "I'm am not done fighting because we have only just begun!" said Notley to a standing ovation in her keynote address Sunday to party faithful. "My name is Rachel Notley, and I am running again to be your premier!" It was one of 15 standing ovations as Notley spoke Sunday to 1,200 [Read more]
Industrial natural gas users put backup plans in action ahead of winter shortage
VANCOUVER - A natural gas shortage projected to stretch through the winter months could mean higher vegetable prices this spring, as gas users from mills to local governments hustle to conserve and find alternative fuel sources. The shortage follows a pipeline explosion near Prince George earlier this month and one of the province's largest utilities, FortisBC, says it means supply will be reduce by 50 to 80 per cent during the coldest months of the year. Linda Delli Santi, executive [Read more]
NEB orders tighter safety measures at B.C. site of natural gas pipeline blast
VICTORIA - The National Energy Board has issued new safety orders for a pipeline explosion site in north-central British Columbia to strictly monitor natural gas flows to protect people and the environment. The federal regulator says in a statement it ordered Calgary-based Enbridge to limit gas flows at 80 per cent pressure levels as a safeguard near the blast site, located about 15 kilometres northeast of Prince George. The Oct. 9 explosion ruptured a 91-centimetre natural pipeline, but [Read more]
Government support for energy sector growth urgently needed, says bank CEO
CALGARY - The CEO of the Royal Bank says the oil and gas sector is poised to deliver billions of dollars in new revenue to Canadian governments over the next decade by meeting growing global energy demand but it can't do it without urgently needed support. Dave McKay, who has previously taken Ottawa to task over Canada's lagging tax competitiveness with the U.S., says a new RBC study suggests that Canadian governments could earn an extra $195 billion in revenues between now and 2030 with the [Read more]
Canada Weekly Rig Count Up 9 to 200
Western Canada’s fleet of drilling rigs increased to a total of 200 according to data collected by Baker Hughes for the week of October 26th. From one week ago, Alberta rig counts went up 9 to 141. Saskatchewan's rig count decreased from 40 to 38. Oil drilling went from 123 to 124; natural gas rigs increased from 68 to 76. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for third week in a row
U.S. energy firms added oil rigs for a third week in a row for the first time since June, keeping the rig count at its highest in over three years, as declining productivity in some shale fields force companies to drill more to keep output growing.Drillers added two oil rigs in the week to Oct. 26, bringing the total count to 875, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. For the month, the [Read more]