LONDON (Reuters) - The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from rivals who have benefited from higher oil prices. U.S. shale oil output has been booming over the past year since OPEC reduced its own production in tandem with Russia to prop up global oil prices. But as oil production collapsed in OPEC member Venezuela and is still facing hiccups in [Read more]
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geoLOGIC Spring 2018 Data & Analytics Showcase is nearing capacity! Waitlist in effect
In today’s technology driven, analytics-focused environment, the importance of data quality and integrity has never been greater. Join us on April 26th as we host technical talks and showcase our fully-integrated and diverse oil & gas datasets to help you save time, improve results and realize the full value of your data investment. This educational event is free! Topics include: Keynote Address: The Data Driven Organization | Mike Morley, B.A.Sc., President, Menome Technologies [Read more]
Toscana Energy Provides Update to Normal Course Issuer Bid
CALGARY, Alberta, April 11, 2018 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX:TEI) today provides an update to its Normal Course Issuer Bid (the "Bid") previously announced on May 18, 2017. Effective April 11, 2018, Canaccord Genuity Corp. will be replacing National Bank Financial Inc. as the broker firm responsible for making purchases of common shares in the capital of Toscana ("Common Shares") under the Bid on behalf of Toscana. Pursuant to the [Read more]
Alberta premier says ‘something’ coming from Ottawa on Trans Mountain impasse
TORONTO - Alberta Premier Rachel Notley says the federal government has convinced her that "something specific" will be announced in the near future to try to break the impasse over the Trans Mountain pipeline. Notley made the comments after a meeting in Toronto with federal Finance Minister Bill Morneau. She says she will let Morneau discuss and outline what those specific actions will be. The future of the Trans Mountain project was jeopardized this week after the operator, Kinder [Read more]
Trans Mountain pipeline talks to be held behind closed doors, Morneau insists
OTTAWA - Regardless of what's going on behind the scenes, Finance Minister Bill Morneau says the federal government isn't about to divulge how it plans to salvage the Trans Mountain pipeline expansion. Speaking in Toronto, Morneau says Ottawa is looking at several options to ensure the Alberta-B.C. pipeline gets built, including a potential financial stake in the project. Project architect Kinder Morgan upped the ante this week by declaring it would suspend all non-essential spending on [Read more]
Calgary Trans Mountain rally – neophytes lack the polish and venom of the protest industry, and are much the better for it
Yesterday afternoon, I attended what I thought would be the first protest of my life, outside of a few brutally quick, fruitless and humbling ones against food that was put in front of me some time ago by a tired parent. Yesterday’s was my first organized one. I suspect it was for many others, as the growing crowd began to mill about with the same mild awkwardness one does when standing in front of a crowd and not knowing what to do with their hands. What a bunch of freaking amateurs. And [Read more]
If Canada has a plan to save Trans Mountain, cabinet isn’t saying
OTTAWA - The Trudeau government held an emergency cabinet meeting Tuesday aimed at salvaging the Trans Mountain pipeline expansion but did not come up with plan — at least not one ministers are prepared to talk about yet. Hours earlier, Alberta Premier Rachel Notley upped the ante, saying Alberta is not only prepared to invest in the pipeline, it is prepared to take it over entirely if need be. But federal ministers had nothing to say about how their government might convince — or force — [Read more]
Alberta premier says province prepared to buy Trans Mountain pipeline outright
EDMONTON - Alberta Premier Rachel Notley says the province will buy the Trans Mountain oil pipeline project if that's what it takes to get it built. "We are considering a number of financial options to ensure that the Trans Mountain expansion is built, up to and including purchasing the pipeline outright if were to come to that," Notley said in the statement Tuesday. "But it is not the only model we're considering. "Obviously the best interest and outcomes for Albertans will be front and [Read more]
Relentless Resources announces appointment of management team for cannabis operations and option grants
TSX-Venture Exchange: RRL - CALGARY, April 11, 2018 /CNW/ - Relentless Resources Ltd. ("Relentless" or the "Company") is pleased to announce the appointment of four new officers of the Company. Effective as of April 11, 2018, Relentless appointed Stanley J. Swiatek as Chief Executive Officer, Craig Kolochuk as President, Jeff Swainson as Chief Financial Officer and Tara Johnson-Ouellette as Vice President, Compliance and Regulatory Affairs. Mr. Swiatek is the former Chief Executive Officer [Read more]
Cushing’s oil market clout wanes amid U.S. export boom
The volume of oil sitting in 300 steel tanks in a nine-square-mile radius in Cushing,Oklahoma has long been a key barometer for the health of U.S.crude supply and the nation's benchmark for daily trading of billions of dollars in the commodity. But those tanks could soon drain to levels near effectively empty, even as U.S. oil production soars past a new record of 10.4 million barrels per day. Oil supplies have fallen before in Cushing for a variety of seasonal or market-driven reasons. [Read more]