Oil companies are struggling to find workers willing to travel to the oil sands Canada’s oil sands are entering their busiest season for annual maintenance, bringing thousands of extra workers onto sites, but union officials say many members are reluctant to travel as a third wave of COVID-19 surges across the country. “It’s absolutely crazy […]
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Topline British oil giant BP may be on the verge of buying back shares more than a year after an oil price crash led to negative cash flows and forced it and competitors like Exxon, Chevron and Royal Dutch Shell to cancel share buybacks and cut capital spending – yet, other oil majors still seem […]
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CALGARY, Alberta (Reuters) – Canada’s oil sands are entering their busiest season for annual maintenance, bringing thousands of extra workers onto sites, but union officials say many members are reluctant to travel as a third wave of COVID-19 surges across the country. FILE PHOTO: The suspension of steam generation forces this East Primrose steam plant […]
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A crude oil pump during a sunset. (Pixabay.com) The totals are in from the first Saskatchewan oil and gas public offering of the year. The Crown petroleum and natural gas rights bids saw the Lloydminster area bring in a total of $64,574.16 for leases of 420.878 hectares total. The Estavan area had the highest levels […]
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Oil prices dropped early on Thursday, following a record number of new daily COVID cases in major oil consumer India and a jump in U.S. gasoline stocks estimated by the EIA. As of 10:55 a.m. EDT on Thursday, WTI Crude prices were down 0.69 percent at $59.33 and Brent Crude was trading down 0.43 percent […]
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Southern Alberta Oil Well Canadian heavy crude’s discount to West Texas Intermediate (WTI) narrowed slightly on Thursday: Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, last traded at $10.35 per barrel below WTI, according to NE2 Canada Inc, tightening from Wednesday’s settlement of $10.50 per barrel below the benchmark. Synthetic […]
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Canada’s biggest oil sands producers are generating billions more in free cash flow thanks to a faster-than-expected pandemic rebound, but their cautious approach to spending it is disappointing environment-minded investors. Their strategy to repay debts and pay shareholders has won praise from investors in Canadian Natural Resources, Suncor Energy, and Cenovus Energy who are eager […]
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Planned in early 2020, and approved by the Board in October, the reorganization integrates similar assets and contract structures thereby maximizing operational efficiencies. The new structure will also streamline external reporting and promote alignment with Inter Pipeline’s energy infrastructure peers. A centralized and integrated marketing division has been established to aggregate commodity-based adjusted EBITDA, while […]
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Average annual global oil consumption will rise by 5.5 million barrels per day in 2021 compared to last year, according to the Short-Term Energy Outlook released by the U.S. Energy Information Administration (EIA) Tuesday. However, ATB Financial notes in its latest edition of ‘The Owl’ that the rebound is not enough to get back to […]
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Technology shares led U.S. stocks higher, regaining favor on the last day of a quarter where they trailed the rest of the major market sectors, with President Joe Biden set to unveil his next stimulus plan. Apple Inc., Microsoft Corp. and Tesla Inc. pushed the tech-heavy Nasdaq 100 up 1.5 per cent, while the Dow […]
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