02 August

A major insurance company dropped coverage for the Trans Mountain expansion project, an oil pipeline seen as vital to the growth of Canada’s oil sands. Under pressure from environmental groups and growing global concerns about climate change, insurance companies are beginning to drop coverage for large-scale energy infrastructure. Swiss insurance company Zurich announced on Wednesday […]

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02 August

Big oil companies need to be flexible and diversify in the wake of climate change, electric vehicles and other technologies. Reuters Probably not since the Second World War have the big oil companies released earnings under such turbulent and unpromising circumstances. Their big losses and write-downs are shocking but unsurprising. Are they just the reflection […]

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02 August

The COVID-19 pandemic drove oil juggernaut ExxonMobil XOM -1% to a $1.1 billion loss in the second quarter — its largest ever — but hasn’t budged its long-term view that the world needs more oil and gas. Exxon announced a huge cost-cutting campaign, saying it would continue curtailments of crude oil production into the third […]

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01 August

CALGARY — Oil production and refining volumes at Husky Energy Inc. are gradually returning to normal after deep cutbacks earlier this year but the company is braced for a "bumpy" recovery, CEO Rob Peabody said Thursday. The Calgary-based energy producer and refiner reported having curtailed about 80,000 barrels per day of mainly heavy oil output […]

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01 August

LANSING, Mich. (AP) — A webinar is scheduled to help keep the public informed about the application permitting process for Enbridge Energy’s Line 5 tunnel project. The webinar will start at 6 p.m. Thursday, according to the Michigan Department of Environment, Great Lakes, and Energy (EGLE). Enbridge has proposed building a utility tunnel under the […]

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01 August

Image source: The Motley Fool. Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Dave Hughes — Vice President-Investor Relations & Manager Good morning, everybody. Thank you for joining us on our second quarter earnings call. To start, I’m just going to introduce the senior management here in our virtual room. We have Brad […]

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01 August

Summary Enerplus is one of the largest independents in Canada, although most of its production is actually in the United States. The company is leveraged mostly towards oil, but it does have significant natural gas operations in the Marcellus shale. It is hedged, so much of its oil production is being sold for $50+ per […]

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31 July

Oil prices fell on Thursday following a truly devastating second-quarter GDP report in the U.S., with WTI now stuck at the $40 mark. For Global Energy Alert members there are now two new free reports available in your dashboard. The first of these reports is on how to interpret stock charts and the second outlines […]

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31 July

The TSX ticker is shown in Toronto on May 10, 2013. THE CANADIAN PRESS/Frank Gunn Toronto’s main stock index shed more than 100 points to close the trading week as it was dragged down by the energy sector despite a boost to the price of oil. The S&P/TSX composite index fell 130.09 points to 16,169.20, […]

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31 July

Shares in Imperial Oil Ltd. are trading lower after it beat analyst expectations on oil and gas production but fell well short of second quarter earnings. The Imperial Oil logo is seen at the company’s annual meeting in Calgary on April 28, 2017. THE CANADIAN PRESS/Jeff McIntosh CALGARY — The CEO of Imperial Oil Ltd. […]

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