World-class Alberta Petrochemical Plant Gets Positive FID
February 4, 2019
Pembina Pipeline Corporation Announces Positive Final Investment Decision on an Integrated Petrochemical Facility
Alberta Targets $1.5 Billion Upgrader to Get More From Oil
January 23, 2019
From Bloomberg Alberta is working to encourage construction of a C$2 billion ($1.5 billion) partial-upgrading facility that would turn more of the province’s sludgy bitumen into higher-value products. The facility, designed by Calgary-based Value Creation Inc., would be located near Edmonton and process 77,500 barrels of diluted bitumen a day into products like medium synthetic crude and ultra-low sulfur diesel. The
Alberta Keeps Production Cuts Steady Despite Vanishing Differential
January 10, 2019
February cuts will be at same level as January Alberta is holding course on its production cut plan even though the program has already achieved one of its primary goals, based on a release today. The province’s production cut plan requires all major oil companies to cut output, starting January. The cuts are intended to fade away over time, with
If You Can’t Pipe It, Refine It: Alberta Seeks Oil Glut Solution
January 7, 2019
From Bloomberg What’s worse: Too much oil, or too much gasoline? The government of Alberta, weighing the potential of a new refinery for the province, may be on its way to finding out. In 2018, surging crude production in the Canadian province ran into limited space on export pipelines, creating bottlenecks and sending the price of local oil to record
Blackbird Energy Announces Record Results
December 27, 2018
Calgary-Based Blackbird Energy Inc. (stock ticker: BBI) announced record financial and operational results for the quarter ended October 31, 2018. Highlights from the Q1 2019 Results: Petroleum and Natural Gas Sales $7.4 million ($46.31/boe) of petroleum and natural gas sales during the three months ended October 31, 2018. Represents a 186% increase from the comparative three months ended October
Blackbird, Pipestone Combination Gets Thumbs Up
December 20, 2018
Alberta-based Blackbird Energy Inc. (stock ticker TSX-V: BBI) shareholders have approved the strategic combination of Blackbird and Pipestone Oil Corp. by a majority of over 99% of votes cast. Blackbird is focused on the condensate and liquids-rich Montney fairway at Pipestone/Elmworth, near Grande Prairie, Alberta. At a special meeting, its shareholders also approved the continuance of Blackbird from British Columbia
Pembina Delays FID on $3.5B Plastics Plant, Seeks Partner for LNG Project
December 13, 2018
From Financial Post Pembina is looking to reduce its wholly owned Jordan Cove LNG project to between 40% and 60% CALGARY — Pembina Pipeline Corp. officially delayed an investment decision on a $3.5-billion petrochemical facility in Alberta on Monday, but analysts say they’d be shocked if the company didn’t eventually build the project. The Calgary-based pipeline company announced a $1.6-billion
Alberta’s Output-Cut Mandate May Be Driving Oil Prices Too High
December 13, 2018
From Bloomberg Alberta’s plan to boost crude prices through mandatory production cuts is working a little too well. Just over a week after Premier Rachel Notley announced that oil producers will be required to curtail output by 8.7 percent, the price of heavy Canadian crude has more than doubled, in some cases rendering Western Canadian Select too expensive to ship
Alberta Seeks Refinery Proposals to Prevent Future Oil Shocks
December 13, 2018
From Bloomberg Alberta’s government is seeking expressions of interest for adding crude-refining capacity as the oil-rich province works to extract more value from its resources. The province will accept submissions until Feb. 8 and will consider greenfield projects and expansions at existing sites. At this point, the government is only seeking a sense of the projects companies are considering and
Province Hands Out Notices to Companies Forced to Cut Oil Production
December 6, 2018
From Edmonton Journal The province is in the process of notifying the 25 companies that will have to make production cuts to reduce the oil differential, says Alberta’s energy minister. “Right now we’re working with each individual company,” said Energy Minister Marg McCuaig-Boyd on Wednesday. “There wasn’t agreement before but I think companies realize these are extraordinary times.” Premier Rachel
Suncor Responds to Government of Alberta’s Decision to Cut Oil Production
December 4, 2018
Suncor Energy provides update following Government of Alberta’s decision to cut oil production
Alberta Orders Oil Production Cuts For 2019
December 3, 2018
Cut will remove 375 MBOPD, or 8.7% OPEC isn’t the only group planning an oil production cut for 2019. Alberta Premier Rachel Notley announced temporary production cuts on Sunday as part of an effort to shore up pricing for ailing oil producers in her province. Canadian producers are grappling with punishing differentials, with the WCS-WTI differential reaching a staggering $50/bbl
