28 November

Image: Joey Podlubny/JWN The Canadian energy industry may not be popping champagne just yet, but a rebound in local crude prices may offer some reasons for hope. With producers like Cenovus Energy Inc. shipping more oil by rail and U.S. refineries starting back up after a heavy maintenance season, Canadian crude has recovered some of […]

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28 November

Image: TransCanada TransCanada Corp. is asking a federal judge in Montana to authorize early work on its $8 billion Keystone XL oil pipeline even as the decade-long project faces outstanding legal challenges. The Calgary-based company has asked U.S. District Judge Brian Morris to clarify or amend his ruling earlier this month to say the current […]

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28 November

CALGARY, Nov. 28, 2018 /CNW/ – Whitecap Resources Inc. (“Whitecap”) (TSX: WCP) announces that given the timing of the G20 and OPEC meetings in December and continued crude oil price volatility, it will be deferring the release of its 2019 budget previously scheduled for Wednesday, December 5, 2018, until further notice. About Whitecap Whitecap Resources […]

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28 November

CALGARY (660 NEWS) – The Prime Minister and the Federal Finance Minister both made an appearance in Calgary within the last seven days and they were both met with protesters because of the financial crisis involving record low oil prices. Now the Canadian Association of Petroleum Producers (CAPP) is calling out the government to act […]

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28 November

See Full Stock Page » Oil pared gains as traders awaited weekly U.S. inventory data and any signs of whether Saudi Arabia and Russia will take steps to prevent a global surplus. Futures were 0.2 per cent lower in New York after rising as much as 1.9 per cent. Russian President Vladimir Putin and Saudi […]

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28 November

Premier Rachel Notley. Greg Southam/Postmedia “The Government’s intent in the policy was to provide for the orderly development of the oil sands in such a manner as to supplement but not displace production from the conventional industry.” — Province of Alberta, Internal Memorandum, Oil Sands Development Policy, February 1968 At first it was just pushing […]

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28 November

Bill Morneau isn’t getting aboard Rachel Notley’s oil-by-rail plan to boost crude shipments out of Alberta. But the federal finance minister didn’t completely derail the idea on Tuesday as a short-term way of alleviating the price discount thrashing Canadian oil producers. The province is growing testy waiting for an answer. Alberta’s premier recently asked the […]

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28 November

Par Pacific Holdings of Houston announced Tuesday that it is acquiring Tacoma-based U.S. Oil and Refining Co. and affiliated entities for $358 million. The acquisition includes purchase of U.S. Oil’s 139-acre complex on the Tideflats. It including a 42,000-barrels-per-day refinery, a marine terminal, a rail loading terminal and 2.9 million barrels of refined product and […]

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28 November

Canada’s lingering crude glut isn’t hindering the country’s growing oil output, according to the National Energy Board’s most recent forecast. The country’s oil production will average 4.59 million barrels a day, 22,000 more than previously forecast, data from the Canadian energy regulator show. The raised production outlook comes even as pipeline bottlenecks have driven Canadian […]

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27 November

Alberta’s energy slump is sparking fears about contagion spreading to the broader economy and the big banks, but Bank of Nova Scotia, the first major bank to report earnings for the quarter ended Oct. 31, says it is confident its loan book will withstand the commodity cycle. During a conference call on Tuesday to discuss […]

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