27 November

Federal Finance Minster Bill Morneau announcing the plan to purchase Trans Mountain from Kinder Morgan at the end of May 2018 CALGARY – Hundreds of protesters chanting “Build that pipe now” jammed a downtown Calgary street for the second time in five days on Tuesday, this time to mark a speech by federal Finance Minister […]

Read More
27 November

Construction of Keystone XL in Canada. Image: Brian Zinchuk, Pipeline News HELENA, Mont. — The company that wants to build the Keystone XL pipeline is asking a judge to change his order blocking the project to allow pre-construction work to continue, such as purchasing materials and finalizing contracts. Attorneys for TransCanada Corporation will argue in […]

Read More
27 November

The SeaRose FPSO — a floating production, storage and offloading vessel in the White Rose oil and gas field near Newfoundland’s coast — spilled an estimated 66,000 gallons (250,000 liters) of crude earlier this month, making it the largest oil spill in the province’s maritime history. To make matters worse, according to Canadian provincial regulators, […]

Read More
27 November

Summary Q3 earnings show the company profited from its exposure to oil prices. But with the recent drop of oil prices, I estimate the company needs prices above C$55/boe to operate at a profit while keeping the production flat. If we assume Q3 results over the long term, Torc is undervalued. The market values the […]

Read More
27 November

The spread is widening between Western Canadian Select (WCS) heavy oil and benchmark West Texas Intermediate crude. This week, Alberta premier Rachel Notley sounded the alarm on the “clear and present danger” of a Canada without enough oil pipelines. In a Monday news conference, she said the Canadian economy is losing an incredible $80 million […]

Read More
27 November

Oil’s latest price collapse sees the North American benchmark West Texas Intermediate (WTI) trading at around US$52 a barrel, well below the multi-year high of over US$76 per barrel reached in early October 2018. This has triggered fears that oil has entered a new bear market because of a growing global supply glut. While this […]

Read More
27 November

Canada’s main stock index rose at open on Monday, as energy shares gained after oil prices bounced back. The Toronto Stock Exchange’s S&P/TSX Composite index was up 56.31 points, or 0.38 per cent, at 15,067.04 U.S. stocks opened higher on Monday, as optimism of a robust holiday season powered gains in shares of retailers and […]

Read More
27 November

For months, much of the focus on Alberta’s oil-price woes has centred on Western Canadian Select. That’s understandable because heavy oil accounts for about half of Canada’s crude production, and WCS is the heavy-oil benchmark. Earlier this month, it plunged to a record low of less than US$14 a barrel, and currently sits around US$19. […]

Read More
27 November

Cheap Alberta oil is giving economists second thoughts about the next Bank of Canada rate increase. Considered a sure thing only a couple of weeks ago, doubts are beginning to emerge about whether the central bank will hike in January without a rebound in slumping prices for Canadian heavy crude. In reports over the past […]

Read More
27 November

Smoke rises from railway cars that were carrying crude oil after derailing in downtown Lac-Mégantic, Que., Saturday, July 6, 2013. The Alberta oil industry is in deep trouble because of the huge price discount (by as much as $50 US per barrel) for bitumen (West Canadian Select) compared to the U.S. benchmark West Texas Intermediate […]

Read More