03 December

Alberta Premier Rachel Notley. Image: Government of Alberta EDMONTON — Premier Rachel Notley is ordering a mandatory cut to oil production to deal with a price crisis she says threatens to gut Alberta’s bedrock industry. Notley announced the province will impose across-the-board cuts amounting to 8.7 per cent of output to reduce a growing glut […]

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03 December

Oil surged as Saudi Arabia and Russia extended their pact to manage the market and Canada’s largest producing province ordered unprecedented output curbs. After their worst month in a decade, prices in New York and London advanced more than 5 percent on Monday. Although Russia and Saudi Arabia have yet to confirm any fresh cuts, […]

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03 December

Pengrowth’s Lindbergh SAGD project near Cold Lake, Alta. Image: Scovan Engineering Heavy oil-focused intermediate Pengrowth Energy Corporation says that it is “well insulated” from the massive current price discount as a result of its market access strategy. The discount for Canadian heavy oil compared to WTI reached a staggering US$52/bbl in October, and has since […]

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03 December

Alberta Finance Minister Joe Ceci. Image: Flickr/Premer of Alberta Alberta slashed its economic growth forecast for this year and next as plunging prices for local crude threaten to eat into corporate profits and reduce investments. Gross domestic product will increase 2 percent in 2019, the province said Friday in its second-quarter fiscal update. That’s down […]

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03 December

Image: TransCanada FREDERICTON — New Brunswick’s new premier is trying to revive the Energy East pipeline — even though the original proponent says the project is dead. TransCanada Corporation abandoned the $15.7-billion project more than a year ago, after the National Energy Board modified the environmental assessment process. But Premier Blaine Higgs, along with some […]

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02 December

FREDERICTON – New Brunswick’s new premier is trying to revive the Energy East pipeline — even though the original proponent says the project is dead. TransCanada Corporation abandoned the $15.7-billion project more than a year ago, after the National Energy Board modified the environmental assessment process. But Premier Blaine Higgs, along with some other premiers […]

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02 December

Premier Rachel Notley in a Postmedia file photo. Premier Rachel Notley is expected to announce Sunday whether or not the province will mandate production cuts in an effort to reduce the punishing oil price differential. “We need to do more and do it now,” Notley wrote in a Postmedia op-ed Friday . She laid out […]

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02 December

EDMONTON—Premier Rachel Notley is set to make an announcement regarding the oil differential crisis her government has been grappling with in recent weeks. On Sunday at 6 p.m. Mountain Time, Notley will give her decision, calling it “one of the toughest decisions we will make as a province” in a column that was published by […]

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02 December

As the Notley government announces plans to buy rail cars to get Alberta oil to market and perhaps cut oil production, there’s more breaking news. According to a new survey of oil and gas executives, Alberta is one of the least-attractive places to invest in Canada, which means fewer jobs, less revenue to pay for […]

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02 December

Summary US dollar recovered ahead of the weekend. S&P 500 gained the most last week in seven years. January crude trying to base around $50. 10-year US yield closed below 3.0% for the first time since mid-September. With a firmer tone ahead of the weekend, the US dollar closed higher against all the major currencies […]

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