Financial numbers flow on the digital ticker tape at the TMX Group in Toronto’s financial district on May 9, 2014. THE CANADIAN PRESS/Darren Calabrese TORONTO — Canada’s main stock index capped the week with an upswing Friday as crude oil prices hit their highest level in nearly three months after a partial trade truce between […]
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David Cooper via Getty Images A CP Rail freight train is seen here in Toronto on Jan. 14, 2015. The TSB says 33 oil tank cars and one hopper car derailed 115 kilometres southeast of Saskatoon. LANIGAN, Sask. — The Transportation Safety Board (TSB) says Monday’s fiery Canadian Pacific Railway freight train derailment in Saskatchewan […]
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Emergency crew respond to CP Rail train hauling crude oil that derailed near Guernsey, Sask. on Monday, December 9, 2019. LANIGAN, Sask. — The Transportation Safety Board says Monday’s fiery Canadian Pacific Railway freight train derailment in Saskatchewan involved the estimated release of 1.5 million litres of oil. The resulting fire forced the temporary closure […]
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The discount on Canadian heavy crude widened versus U.S. benchmark West Texas Intermediate (WTI) crude on Friday as traders continued to focus on record stockpiles. * Western Canada Select (WCS) heavy blend crude for January delivery in Hardisty, Alberta, traded at $22 per barrel below WTI, according to NE2 Canada Inc, near the widest level […]
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In early trading on Friday, oil prices hit a three month high on positive trade war and geopolitical developments. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) Oil jumped on Friday after the UK election and the announcement of a “Phase One” […]
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Canada’s fleet of active drilling rigs grew from 138 to 153 since last week according to data from Baker Hughes. Total drilling count was 153 at December 13. 96 rigs were drilling for oil; 57 for natural gas. The drilling activity in both Alberta and Saskatchewan increased, with Alberta growing from 91 to 98 and […]
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West Texas oil wells U.S. energy firms added rigs for the first time in eight weeks even as producers follow through on plans to reduce spending on new drilling. Companies added 4 oil rigs in the week to Dec. 13, bringing the total count to 667, energy services firm Baker Hughes Co said in its […]
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Canadian energy firms have quietly outperformed their U.S. counterparts this year and, even after the run, a chorus of positive outlooks on the sector to the north continues. Canada’s energy index has risen about 12.7% in 2019 versus 5% for the comparable U.S. gauge, led by pipeline firms including TC Energy Corp. and Enbridge Inc., […]
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Chevron Corp. is raising capital spending in the Permian Basin by around 11% for the coming year, but Appalachia is to see budget cutbacks on the continued slump in natural gas prices. In issuing its 2020 capital budget plans, the San Ramon-based supermajor said it was evaluating “strategic alternatives” for its Appalachian shale exploration and […]
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Canada’s oil and natural gas production is projected to have steady growth through 2040 as key pipeline and export infrastructure are completed and prices rise over the long-term, according to the Canada Energy Regulator’s first long-term energy outlook . Specifically, the CER report finds that crude oil production is expected to grow by nearly 50 […]
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