Canada News

Source: Reuters

Cenovus acquiring outstanding 50% interest in Sunrise oil sands asset

Yahoo Finance


Publisher’s Note: BP will be presenting at EnerCom Denver-The Energy Investment Conference on August 7-10, 2022. Register to attend. 

CALGARY, Alberta, June 13, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached an agreement …

Source: Bloomberg

Canada’s oil sands prices trail futures as refining costs rise

World Oil


(Bloomberg) — Canadian heavy crude prices have collapsed relative to futures prices because of high refining costs rather than the pipeline bottle necks that have plagued the industry in the past, according to a Toronto-based analyst.

Western Canadian …

Source: Reuters

Canada’s Suncor says operations improving, will talk with activist firm

Yahoo


Canadian oil and gas producer Suncor Energy, which is under pressure from an activist investor firm, on Tuesday said it is making progress on safety and operational improvements after posting stronger-than-expected first-quarter results.

Elliott Management last month publicly called …

Source: World Bank

Banks’ net-zero lending ambitions hit snags in oil-rich Canada

World Oil


(Bloomberg) — Canada’s banks have only just started on the path toward zeroing-out the carbon emissions of the companies they lend to, and already they’re running into conflicts between what climate activists and ESG investors want and what …

Source: Bloomberg

Oil sands to play biggest role in Canada’s export boost pledge

World Oil


ARC Resources Ltd. reports record year-end 2021 results and reserves

ARC Resources Ltd. reports record year-end 2021 results and reserves

ARC Resources Ltd. Reports Record Year-end 2021 Results and Reserves Canada New…

Source: World Oil

Crescent Point Energy seeks buyer for western Canada oil assets

World Oil


(Bloomberg) — Canadian light oil producer Crescent Point Energy Corp. is looking to sell a package of lands in Alberta and Saskatchewan that was producing 11,154 barrels of oil equivalent per day as of the fourth quarter of …

Source: Reuters

Imperial Oil misses profit estimates as cold weather hits output

Nasdaq


Feb 1 – Canada’s Imperial Oil Ltd IMO.TO on Tuesday posted a quarterly profit that narrowly missed estimates, as extreme cold weather hit the company’s production.

 

Oil sands mining, which accounts for the bulk of Canada’s crude output, …

Source: Reuters

IEA believes Canada’s status as an oil power threatened by net-zero goals

World Oil


CALGARY (Bloomberg) –Canada will face challenges in retaining its status as a global oil and gas power in a world transitioning toward net zero carbon emissions by mid-century, the International Energy Agency said.

 

The country seeks to …

Source: Bloomberg

Exxon seeks to sell Canadian shale assets to focus on oil sands

World Oil


CALGARY (Bloomberg) –Exxon Mobil is looking to sell its Canadian shale assets to focus on Alberta’s oil sands.

 

Exxon and its majority-owned Imperial Oil Ltd. unit will start marketing XTO Energy Canada, which produces 9,000 barrels a …

Source: Reuters

IEA urges Canada to use clean power resources to help cut emissions

Reuters


CALGARY, Alberta – Canada, the world’s fourth-largest oil producer, needs to give clear policy signals and leverage its abundant clean electricity resources to sharply cut carbon emissions, the International Energy Agency (IEA) said on Thursday in a review of
Source: Bloomberg

Canadian oil exports to Asia reach record with new U.S. link

World Oil


LONDON (Bloomberg) –Canada’s oil sands producers were able to export a record amount of crude to overseas markets thanks to a new link to the U.S. Gulf Coast.

The recent reversal of Marathon Pipe Line Inc.’s Capline pipeline …

Canada’s Cenovus reaches share price highs not seen since 2017

Canada’s Cenovus reaches share price highs not seen since 2017

World Oil


(Bloomberg) –For a few fleeting hours Thursday, shares of Cenovus Energy Inc., one of Canada’s biggest oil producers, bounced back to highs not seen since its massive stock issuance to buy assets from ConocoPhillips four and a half …

Source: World Oil

Freezing weather hampers crude oil flow in northern U.S., Canada

World Oil


(Bloomberg) –A deep-freeze in Canada and Northern U.S. is disrupting oil flows, causing a surge in crude prices just as American stockpiles are declining.

With temperatures from North Dakota to Northern Alberta below zero Fahrenheit (-18 Celsius), TC …

January 6, 2022 - 10:30 am Canada, Canada News, Crude Oil News, Energy News
Source: Reuters

Canadian dollar rebounds as oil prices climb

Reuters


The Canadian dollar strengthened against its U.S. counterpart on Tuesday, with the currency clawing back some of its decline from the prior day as oil prices rose and domestic data showed factory activity expanding at the slowest pace in …

Source: World Oil

Enbridge sees two options for pipelines after Canadian regulatory pushback

World Oil


CALGARY (Bloomberg) –Enbridge Inc. is evaluating two tolling options for its vast Mainline oil pipeline network after a proposal to offer long-term contracts to keep the conduits full was rejected by Canada’s energy regulator.

North America’s largest pipeline …

Source: Reuters

Enbridge announces 2022 financial guidance, increases dividend, and provides update on strategic priorities

Enbridge Announces 2022 Financial Guidance, Increases Dividend, and Provides Update on St…

Source: Reuters

Canada says talks with U.S. over pipeline dispute should start soon

Reuters


OTTAWA, Dec 1 – Formal talks between Canada and the United States over a disputed Michigan pipeline should start soon, Ottawa said on Wednesday, the latest development in an affair souring bilateral relations.

Last month Canada invoked a 1977 …

Source: Reuters

Enbridge may face tougher fight for oil barrels, lower rates, after pipeline ruling

Reuters


WINNIPEG — A Canadian regulator’s rejection last week of Enbridge Inc’s plan to sell space long-term on the country’s biggest oil pipeline dealt the company a double whammy that analysts say could hit its bottom line.

Enbridge lost a …

Canadian indigenous group says it has ordered workers off site of disputed gas pipeline

Canadian indigenous group says it has ordered workers off site of disputed gas pipeline

Nasdaq


OTTAWA, Nov 15 – An indigenous group in the Canadian Pacific province of British Columbia says it has ordered workers to leave the site of TC Energy Corp’s TRP.TO Coastal GasLink pipeline, the latest step in a protracted dispute.…

Source: Reuters

Canadian light oil demand jumps as refiners avoid gas dependence

World Oil


CALGARY (Bloomberg) –Canada’s oil sands are known for yielding some of the heaviest, most carbon-intensive oil in the world but it’s the light crude that the country produces that is most in demand at the moment.

Refiners across …

Source: Reuters

Canada oil producers grapple with Trudeau’s demand for faster emissions cuts

Reuters


WINNIPEG, Manitoba (Reuters) – Canada’s oil producers face new pressure from Prime Minister Justin Trudeau to reduce emissions in just three years, a sudden acceleration of their plans that at least one major company said looks unrealistic.

Suncor Energy, …

Source: Reuters

Canada escalates Michigan pipeline battle with decades-old treaty

World Oil


(Bloomberg) –The Canadian government invoked oil and gas transit rights under a decades-old treaty with the U.S. to stop Michigan’s attempt to shut down an Enbridge Inc. pipeline under the Great Lakes.

A 1977 agreement states Canada and …

Source: Reuters

Enbridge to start oil sands pipeline after years of delays

World Oil


(Bloomberg) –A long-delayed Enbridge Inc. pipeline extending from Canada’s oil sands to the U.S. Midwest will enter service Friday after years of opposition from environmentalists and indigenous groups.

The company said its Line 3 replacement project, which will …

Source: Reuters

EXCLUSIVE Canada’s clean energy lobby groups call for changes to draft Clean Fuel Standard

Reuters


CALGARY, Alberta – One of Canada’s flagship pieces of climate regulation has run into criticism from clean fuel lobby groups as Prime Minister Justin Trudeau prepares to start his third term in office, with industry advocates arguing it is …

Source: World Oil

Syncrude Canada force majeure impacts North American crude flow

World Oil


CALGARY (Bloomberg) –Syncrude Canada Ltd., a light crude producer majority-owned by Suncor Energy Inc., cut September supplies due to a mechanical disruption at its oil sands site, according to a person familiar with the situation.

In a force …

September 23, 2021 - 1:00 pm Canada, Canada News, Closing Bell Story‎, Crude Oil News, Energy News
Source: Fox Business

Dakota Access pipeline asks U.S. Supreme Court to scrap environmental study order

Fox  Business


NEW YORK – Dakota Access on Monday asked the U.S. Supreme Court to revisit whether the largest pipeline out of the North Dakota oil basin requires additional environmental review.

The U.S. District Court for the District of Columbia …

Source: World Oil

Canada covers local oil demand with U.S. imports, despite being the world’s 4th largest crude producer

World Oil


CALGARY– Canadian oil production is more than two and half times domestic demand, yet the majority of crude oil demand in the country arrives via the United States, according to a new analysis by IHS Markit, a world …

Baytex to Present at Enercom’s the Oil and Gas Conference

Baytex to Present at Enercom’s the Oil and Gas Conference

CALGARY, Alberta, Aug. 10, 2021 (GLOBE NEWSWIRE) — Baytex Energy Corp. (TSX: BTE) is pleas…

August 11, 2021 - 10:32 am Canada News, Crude Oil News, Energy News, Press Releases
Source: Reuters

Canadian Natural sets new emission goals after profit beat

Reuters


Oil producer Canadian Natural Resources on Thursday set new environmental targets after it beat market estimates for second-quarter profit, buoyed by higher oil prices, which rebounded from pandemic-driven lows.

Cash-rich Canadian oil sands producers have come under pressure to …