Canada's renewable fuel projects are hit by a surge in US imports
Canadian renewable fuel producers will see lower returns from new facilities as a result of a slump in British Columbia’s low-carbon fuel standard (LCFS). This trend is expected to continue amid an influx of US exports. The weakness in British Columbia's…
Canada regulator suspends Imperial's application to extend Norman Wells oil permits
The Canada Energy Regulator announced on Tuesday that Imperial Oil has put its application to extend life of the remote Norman Wells oil-and-gas facility in Canada's Northwest Territories on hold until a report on environmental assessment is completed.
Alberta regulator fines Imperial Oil over tailings leak
Alberta Energy Regulator announced on Thursday that it had imposed a C$50,000 administrative penalty ($36,764.71) against Imperial Oil for a toxic tailings spill at Kearl Oil Sands Mine. The leak lasted months. The AER also requested that the Canadian…
Husky Energy Beats Profit Estimates
Husky Energy Inc reported a better-than-expected quarterly profit on Thursday, as higher Canadian crude prices following Alberta government's mandatory output cuts more than offset the company's lower production and weak refining margins.The Calgary…
ExxonMobil Drops USD 25 bln Canadian LNG Project
U.S. oil major Exxon Mobil Corp. has withdrawn its environmental assessment application for a $25-billion LNG export facility on the B.C. coast it proposed in 2015. No reasons given for withdrawing from environmental review process.“After careful review…
ExxonMobil Shelves Canada LNG Export Project
U.S. oil major Exxon Mobil Corp has withdrawn its WCC liquefied natural gas (LNG) export project in Canada from an environmental assessment, it said on Thursday, signalling that the project has been shelved.The decision to pare its LNG project portfolio…
ExxonMobil Shelves Canada LNG Export Project
U.S. oil major ExxonMobil has withdrawn its WCC liquefied natural gas (LNG) export project in Canada from an environmental assessment, it said on Thursday, effectively signalling that the project has been shelved.The so-called WCC LNG export project…
Canada Crude Differential Seen Staying High as Refiners Take Downtime
The discount on Canada's heavy crude, which reached a nearly five-year high this week, looks to remain elevated with pipelines strained and the refiners who buy it going offline for maintenance, industry officials say.Western Canada Select (WCS) oil…
Imperial Oil Posts Lower-than-expected Adj. Profit
Canada's Imperial Oil Ltd on Friday reported a lower-than-expected adjusted quarterly profit, hurt by a 22 percent rise in expenses. The Calgary-based company reported a net loss of C$137 million ($111.23 million), or 16 Canadian cents per share, for…
Canada Oil Producers Fill Pipelines, Railroads
Canadian oil producers are running out of options to get crude to market as pipeline and rail capacity fills up, driving prices to four-year lows and increasing the risk of firms having to sell cheaply until at least late 2019. This will drive down the profit margins for the oil sands industry…
Exxon Mobil profit disappoints Wall Street, Chevron shines
Exxon Mobil Corp posted a rare earnings miss on Friday, the only international oil producer to do so last quarter, as production slipped in its African and Canadian operations. Exxon's results were overshadowed by rival Chevron Corp , which easily exceeded…
Innovators Toil to Revive Canada Oil Sands
In the boreal forests and on the remote prairies of Alberta, a handful of firms are running pilot projects they hope will end a two-decade drought in innovation and stem the exodus of top global energy firms from Canada's oil sands. They are searching…
Suncor to Grow Oil Sands as Oil Majors Flee
Even as the world's largest energy companies exit Canada's high-cost oil sands the country's top producer Suncor Energy is lining up its next phase of growth in the world's third largest crude reserves. The preliminary plans for new projects in remote…
Alberta Crude Oil Leak Came from Inter Pipeline System
A crude oil leak in central Alberta's Strathcona County on Friday afternoon came from Inter Pipeline Ltd's Cold Lake regional pipeline system, the company said in a statement on Monday. Calgary-based Inter Pipeline has isolated a segment of the pipeline near its Strathcona Terminal in Edmonton for repairs…
ConocoPhillips: Syncrude Outage Affecting Output
A production shutdown at the Syncrude oil sands facility in northern Alberta has impacted output from ConocoPhillips' Surmont thermal plant, helping push heavy Canadian crude prices to their narrowest discount in nearly two years. The 350,000 barrel…
Workers Return to Alberta Oil Sands after Fire
The "vast majority" of workers at Syncrude's oil sands plant in northern Alberta had returned to work on Wednesday after a fire the previous day, said a company spokesman who declined to say whether production at the facility had been affected. Access to the 350…
Exxon CEO Sees Potential in Canadian Oil Sands
Exxon Mobil Corp still sees potential in its western Canadian operations despite a recent write-down in the value of nearly all its oil sands reserves there, Chief Executive Officer Darren Woods said on Wednesday. "The way we're managing that (Canadian…
ConocoPhillips: Oil Sands Reserves Revised Down
ConocoPhillips has revised down over a billion barrels of oil sands reserves because of low global crude prices, a company filing showed on Tuesday, the latest sign that some of Canada's vast hydrocarbon potential may be left untapped. The U.S. oil…
Imperial Oil Profit Boosted by Asset-Sale Gain
Imperial Oil Ltd, majority owned by Exxon Mobil Corp, reported a sharp rise in fourth-quarter profit, helped by a gain from the sale of its service stations. Canada's No.2 integrated oil producer and refiner sold its remaining company-owned Esso retail…
Obama's Arctic Ban and Aftermath
US President Barack Obama has permanently banned offshore oil and gas drilling in the "vast majority" of US-owned northern waters. Vowing that his successor won’t be able to reverse his actions, President Obama on Tuesday used executive authority to…
