A government aid package for struggling Canadian energy firms has run into weeks of delays, in part because officials are still trying to obtain up-to-date data, according to three sources familiar with the matter. The oil and gas sector in the western province of Alberta, home to the world’s third-largest crude reserves, has been hard […]
Read MoreAlberta oil well in canola field Canadian heavy crude’s discount widened versus U.S. benchmark West Texas Intermediate (WTI) oil on Wednesday, the first day of the monthly trading cycle. Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, traded at $16.65 per barrel below WTI, according to NE2 Canada Inc, wider […]
Read MoreAn oil apocalypse has arrived as a perfect storm of falling demand and growing supply causes prices to crater. The North American West Texas Intermediate (WTI) benchmark has lost a stunning 67% since the start of 2020, seeing it fall to its lowest price since 2002. There are signs of worse ahead for oil prices. […]
Read MoreCALGARY – Canadian billionaire energy mogul and Calgary Flames owner Murray Edwards is on the move again, relocating this time from rainy London to the posh Swiss ski resort town of St. Moritz. Canadian billionaire energy mogul and Calgary Flames owner Murray Edwards. Edwards is the executive chairman and a founder of Canadian Natural Resources […]
Read More(GETTY) As coronavirus fear weighs on the markets and squeezes economies, collapsing oil prices are quietly undercutting the chances of a recovery, according to one economist. Frances Donald, Manulife’s global chief economist and head of macro strategy, sees the shock to oil as a much bigger threat than most realize. “Everybody knows it’s going to […]
Read MoreAccess to capital will be critical to oil sector recovery: IHS Ma… Oil surge boosts energy stocks U.S. running out of places to store oil: Trader Rock-bottom prices for Canadian oil and a lack of demand are setting the stage for “inevitable” production cuts, according to Goldman Sachs, which says the industry could run out […]
Read MoreCanadian crude is at an historic low. The current market is eating away at the remainders of already weak demand. Crude now effectively costs more to ship than to buy. The list of reasons to avoid Canadian oil stocks is as long as your arm. But forget the price war. There are reasons to buy […]
Read MoreCALGARY, Alberta – Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) announces the termination of its previously announced disposition of its oil and natural gas interests in the Foothills area (the “Disposition”). Petrus has been advised in writing by the purchaser that they are terminating the asset purchase and sale agreement (the “Agreement”) providing […]
Read MoreEach week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here . With our industry currently dealing with the dual challenges of physical […]
Read MoreCanadian oil and gas stocks rallied for a second day following Alberta’s decision to invest in the Keystone XL pipeline but analysts and portfolio managers said even slightly positive news can cause dramatic moves in markets. "Oil is up only modestly, but small changes in sentiment have a huge impact on share prices at these […]
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