Tag: Canadian Oil

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Both sides of Energy East need to start talking: Chamber CEO

Both sides of Energy East need to start talking: Chamber CEO

Beatty: Energy East could create billions of dollars in benefits SASKATOON _ The head of the Canadian Chamber of Commerce says politicians on both sides of the Energy East pipeline debate need to stop shouting and start talking. Perrin Beatty told the Saskatoon Chamber of Commerce that Canada is the only oil producer that doesn’t […]

March 3, 2016 | By | Reply More
Export Development Canada earmarks $750 million to help oilpatch firms

Export Development Canada earmarks $750 million to help oilpatch firms

Export Development Canada money could take the form of loans or guarantees CALGARY _Export Development Canada is setting aside $750 million to help ailing oil and gas firms make it through the industry’s worst downturn in decades. The assistance could take the form of commercial loans or guarantees, said Mark Senn, the Crown corporation’s vice-president […]

February 25, 2016 | By | Reply More
Don’t forget energy sector: Brad Wall watches Ottawa on Bombardier

Don’t forget energy sector: Brad Wall watches Ottawa on Bombardier

Thousands of energy sector jobs lost REGINA _Talk of federal aid to help pull Bombardier Inc. out of a nosedive has caught the attention of Saskatchewan Premier Brad Wall and the tanking energy sector. Wall says that if the federal government is thinking about a bailout package for Bombardier, it could consider helping the oil-and-gas industry, […]

February 18, 2016 | By | Reply More
Penn West settles lawsuits over accounting errors, but admits no wrongdoing

Penn West settles lawsuits over accounting errors, but admits no wrongdoing

Penn West settlement will be fully funded by company’s insurance CALGARY _ Penn West Petroleum Ltd. has reached agreements to settle a bevy of class-action lawsuits stemming from accounting errors it discovered in 2014. The settlement in the Canadian and U.S. cases will be fully funded by the company’s insurance, meaning its cash resources and […]

February 16, 2016 | By | Reply More
Canadian rig count rises this week, US count down to 571 from 619 last week

Canadian rig count rises this week, US count down to 571 from 619 last week

US rig count down the most in Texas HOUSTON _ For the fifth consecutive week, the Baker Hughes rig count shows another drop in the US oil and gas rig count.  Texas took the biggest hit in the US with almost 20 fewer rigs searching for oil and gas. Reports from the oilfield services company for the […]

February 5, 2016 | By | Reply More
Canadian oil producers among the few who have cut production

Canadian oil producers among the few who have cut production

Canadian oil producers cut about 30,000 bpd CALGARY _ Consultancy Wood Mackenzie says Canadian oil producers are among the very few globally who have reduced output in the face of low oil prices. Wood Mackenzie says it found that only about 100,000 barrels a day, or 0.1 per cent of global production, has been cut […]

February 5, 2016 | By | Reply More
Premier Brad Wall says Trudeau should champion energy sector, Energy East

Premier Brad Wall says Trudeau should champion energy sector, Energy East

Brad Wall says NEB should be referee on Energy East pipeline REGINA _Saskatchewan Premier Brad Wall says Prime Minister Justin Trudeau should take a stand and support the Energy East pipeline. Trudeau said last week that his role as prime minister in thorny issues such as pipelines is to bring people together and secure a […]

February 1, 2016 | By | Reply More
Libs release pipeline proposal assessment mechanisms

Libs release pipeline proposal assessment mechanisms

Ministerial advisor will consult on pipeline proposal with indigenous communities OTTAWA _ The Liberal government has added two new review mechanisms to how major new pipeline proposals are assessed, but Natural Resources Minister Jim Carr says approval or rejection ultimately will come down to a judgment call by cabinet. Carr and Environment Minister Catherine McKenna […]

January 28, 2016 | By | Reply More
US tribes oppose Trans Mountain pipeline expansion

US tribes oppose Trans Mountain pipeline expansion

Kinder Morgan looking to triple capacity in Trans Mountain pipeline project SEATTLE _ A proposed pipeline-expansion project in Canada will put the fishing rights and cultural heritage of U.S. tribes at risk, a lawyer representing several Washington state tribes told Canadian energy regulators. Kinder Morgan’s Trans Mountain project would nearly triple pipeline capacity from 300,000 […]

January 25, 2016 | By | Reply More
Low oil prices not reflected at the pump as low dollar, refiners take cut

Low oil prices not reflected at the pump as low dollar, refiners take cut

Oil prices low, but refineries making significantly more money than in the past CALGARY _ Low oil prices are hammering Canada’s resource economy but drivers aren’t seeing the silver lining of equally low prices at the pump. In its latest monetary policy report this week, the Bank of Canada pointed out that oil prices have […]

January 22, 2016 | By | Reply More