From Bloomberg Alberta’s incoming premier is already fighting pipeline law changes that are in the offing. Jason Kenney’s conservative party swept to power Tuesday in Canada’s oil heartland after a campaign in which he regularly took aim at Prime Minister Justin Trudeau. In his victory speech, Kenney also criticized Trudeau for “imposing new laws that will make it impossible to
From Bloomberg Alberta Premier-Elect Jason Kenney’s vow to cancel his predecessor’s C$3.7 billion ($2.8 billion) plan to increase the province’s crude-by-rail capacity is dividing Canada’s oil industry, with even one of his supporters saying he should keep the program. Kenney, whose United Conservative Party won a majority of legislative seats in the province’s election on Tuesday, argued on the campaign
From Bloomberg Alberta returned to its conservative roots, electing United Conservative Party Leader Jason Kenney premier after he vowed to fight harder for the Canadian province’s beleaguered energy industry. Kenney defeated center-left incumbent Rachel Notley, 55, whose New Democratic Party snapped four decades of conservative rule in 2015. Kenney’s election may herald big changes for Alberta’s energy industry, which produces
From Bloomberg For a guy who says one of his fondest memories as a Canadian was watching the Quebec separatist movement fail at the ballot box in 1995, Brett Wilson sure talks a lot about his own province seceding. The entrepreneur, investor and philanthropist has been bringing up the idea of the western provinces of Alberta and Saskatchewan dropping out
From Bloomberg One group of Canadian oil producers is gaining from the output cuts imposed by Alberta: the small explorers. Local wildcatters that pump light crude far from the giant oil-sands mines of northern Alberta are getting a big price boost from the curtailmentsannounced at the start of December, without the headaches. Many of them are exempt from the cuts and
From Reuters The amount of oil in storage in Alberta rose in February, monthly data shows, despite moves by the government of Canada’s largest crude-producing province to reduce inventories by imposing curtailments on production. The reason is a sharp decline in crude by rail shipments, analysts say. A significantly narrower discount on Canadian crude compared with U.S. barrels as a
From Bloomberg Drillers are moving ahead in a corner of Canada’s oil sands that saw a flurry of land grabs in recent years, unfazed by a glut of crude that depressed prices last year and the mandatory production cuts that followed. Cenovus Energy Inc. received regulatory approval in January to drill new wells in 35 sections of the Marten Hills region
From Bloomberg When prices for Canada’s heavy crude collapsed late last year, Alberta did something quite out of character. The traditionally conservative, free-market-loving province took a page out of OPEC’s handbook and ordered its largest oil producers to throttle back output by about 325,000 barrels a day, the equivalent of almost 9 percent of daily production. The move was an
From Reuters Alberta Premier Rachel Notley warned Canadian senators on Thursday that a slump in the country’s energy sector could deepen if the federal government passes proposed legislation to change how major projects like pipelines are assessed. Notley appeared before a Senate committee considering Bill C-69, aimed at revamping Canada’s major project environmental assessment process. Proponents say the bill will
Pembina Pipeline Corporation Announces Positive Final Investment Decision on an Integrated Petrochemical Facility
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
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
