Cenovus Energy reports 56% drop in quarterly profits on lower production
Cenovus Energy, a Canadian oil and natural gas producer, reported a 56% drop in its third-quarter profits on Thursday. This was due to lower commodity prices and…
The Globe and Mail reports that Canada is proposing to support the carbon-capture projects of oil-sands companies.
The Globe and Mail reported that Canada Growth Fund, the federal funding agency of Canada, has proposed to fund a multi-billion dollar carbon-capture project by Pathways Alliance.
Canadian Natural Gas Companies eager to capitalize on the LNG boom flood the market with excess supply
Analysts said that a huge LNG Canada terminal, led by Shell, could struggle to raise Canadian natural-gas prices dramatically when it begins operating next year…
Chevron sells assets worth $6.5 billion to Canadian Natural Resources
Chevron announced on Monday that it would sell its assets in the Athabasca Oilsands and Duvernay Shale fields to Canadian Natural Resources at a price of $6.5 billion.
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.
Total Books $8 Bln Asset Impairments
French energy group Total will book an exceptional impairment charge of $8 billion mainly on its Canadian oil sands and liquefied natural gas projects, it said on Wednesday."Overall, the exceptional a
Upstream Sector Leads O&A M&A in 2019
A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating…
Canadian Energy Sector to Boost Spending
Capital spending by Canada's oil and gas industry will rise by 6%, or C$1.9 billion, in 2020 from the previous year, halting a six-year decline due to improving economics…
Cenovus Energy Sets Out to Slash Emissions
Canada's Cenovus Energy on Thursday unveiled plans to reduce per-barrel greenhouse gas emissions by 30% by the end of 2030, as the country's oil industry faces growing…
Norway Wealth Fund to Drop ConocoPhillips, Hess
Norway's wealth fund will have to divest its holdings in ConocoPhillips and Hess after both U.S. oil companies were added to a list which effectively excludes them…
Oil and Gas Projects to Triple in 2019
A surge in final investment decisions (FIDs) this year on new petroleum projects worldwide could see sanctioned volumes of oil and gas – excluding shale and tight…
Suncor sees 13% rise in fourth-quarter upstream output
Suncor Energy Inc said on Monday it expects total upstream production to rise by about 13 percent in the fourth quarter of 2018, helped by higher output from its majority-owned Syncrude oil project in
Cenovus Cuts 2019 Capital Budget
Canada's Cenovus Energy Inc said on Tuesday it would reduce its capital spending for 2019 by 4 percent amidst a broader turnaround plan following its highly criticized deal with ConocoPhillips.The com
Sinopec Plans to Build Canadian Oil Refinery
China's Sinopec Corp has joined a group planning to build an oil refinery in Alberta, an enterprise that would strengthen demand for the Canadian province's heavily…
Federal Judge Orders Keystone XL Pipeline Review
A federal judge in Montana on Wednesday ordered the U.S. State Department to do a full environmental review of a revised route for the Keystone XL oil pipeline,…
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…
Enbridge Completes 40 pct of Line 3 Work, Tops Profit Estimates
Enbridge Inc said on Friday it had completed 40 percent of replacement work on its massive Line 3 pipeline and reported a better-than-expected quarterly profit by…
TransCanada sees 'Robust' Shipper Interest in Keystone XL
Pipeline operator TransCanada Corp is seeing strong interest from oil shippers in locking up the remaining space on Keystone XL and expects it to be fully subscribed…
Valero, Marathon Beat Profit Estimates as Refining Margins Rise
Two of the biggest independent oil refiners in the United States beat Wall Street profit estimates on Thursday as greater processing of cheap, light crude from West…
US Sees Little Impact from Keystone XL Pipeline's Planned Route
The Keystone XL crude oil pipeline project cleared a hurdle on Monday as the Trump administration said in a draft environmental assessment that an alternative route…
