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Gordon Jaremko

Gordon Jaremko worked as a reporter and editor for Canadian daily newspapers, wire services and monthly magazines for 38 years in Calgary, Edmonton and Ottawa, primarily covering politics, economics and business with emphasis on the Alberta petroleum industry. He has contributed to four books and has become an independent contractor engaged on two history projects. He has been contributing to Intelligence Press since 1986.

Gordon Jaremko's avatar

Canada Correspondent | Calgary, AB

email gjaremko@gmail.com

Imperial Gets Earnings Boost From Retail, Refining Rates

Imperial Gets Earnings Boost From Retail, Refining Rates

The Esso brand of more than 2,000 service stations across Canada and a trio of jumbo refineries in Ontario and Alberta helped put a tiger in Imperial Oil Ltd.’s financial tank during the first six months of this year. The ExxonMobil subsidiary’s downstream side reported first-half 2021 revenue of C$11.1 billion ($8.9 billion) from refined…

August 4, 2021
U.S. Remained Top North American Natural Gas Trader in 1Q, Says DOE

U.S. Remained Top North American Natural Gas Trader in 1Q, Says DOE

International natural gas prices leaped in the first three months of this year as economic shocks inflicted by the early 2020 onset of Covid-19 wore off, according to the Department of Energy (DOE). The United States kept its stature as the top North American gas trader, almost doubling former champion Canada’s volume. Total U.S. exports…

August 3, 2021
Whitecap Slips into Black on Better Prices, Boosts Carbon Reduction Targets

Whitecap Slips into Black on Better Prices, Boosts Carbon Reduction Targets

Whitecap Resources Inc. scored a financial comeback in the first six months of this year while also taking steps to further reduce greenhouse gas (GHG) emissions. Following a series of acquisitions of smaller companies, Whitecap oil production grew to 72,475 b/d in first-half 2021 from 55,349 b/d a year earlier. Natural gas rose to 140.9MMcf/…

August 3, 2021
Montney-Focused Arc Reverses Losses on Higher Production, Commodity Prices

Montney-Focused Arc Reverses Losses on Higher Production, Commodity Prices

Liquids-rich natural gas wells and stronger commodity prices more than paid for an expensive corporate takeover and turned Montney shale specialist Arc Resources Ltd. back into a profitable producer during the first six months of this year. Increased output and prices of all products – natural gas, oil and condensate, and natural gas liquids (NGL)…

August 3, 2021
Enbridge Sees Space for Fossil Fuel Infrastructure in Energy Transition, Expects Line 3 Gains by Year’s End

Enbridge Sees Space for Fossil Fuel Infrastructure in Energy Transition, Expects Line 3 Gains by Year’s End

Enbridge Inc. has assured shareholders that it would stay strong by adapting to the energy transition even as the Canadian midstream giant faces ongoing opposition from fossil fuel foes over its projects. “We believe that in all practical scenarios our assets will remain critical to supporting long-term energy demand,” said Enbridge President Al Monaco as…

August 2, 2021
Cenovus Swings to Profit on Rising Prices, Refinery Demand

Cenovus Swings to Profit on Rising Prices, Refinery Demand

Rising consumer demand for fuels from an expanded refinery and retail chain as the Covid-19 pandemic faded helped propel sharply improved financial performance by Cenovus Energy Inc. in the first six months of this year. The Calgary firm’s downstream chain of 1,073 service stations and five U.S. refineries – two in Ohio and one each…

August 2, 2021
Suncor Sees Oil Prices Jump Sharply, Commits 10% of Capital to GHG Initiatives

Suncor Sees Oil Prices Jump Sharply, Commits 10% of Capital to GHG Initiatives

Calgary-based Suncor Energy Inc. saw its earnings jump in the first half of the year, as oil demand rose and the pandemic receded, resulting in the North American retail unit standing out as the growth star. Maintenance turnaround projects, which limited production and sales by the refineries and oilsands operations during 2020 and early this…

July 30, 2021
Tourmaline Boosts Canada Natural Gas Volumes 32%, Eyes Carbon Reductions

Tourmaline Boosts Canada Natural Gas Volumes 32%, Eyes Carbon Reductions

Environmental cleanups to reduce carbon emissions have emerged as a fixture powered by an annual budget of up to C$40 million ($32 million) for top Canadian natural gas producer, Tourmaline Oil Corp. The agenda announced as part of its quarterly results includes cutting diesel motor use, methane leak control, paring down natural gas plant emissions,…

July 30, 2021
Inter Pipeline Scuttles Pembina Merger, Accepts $6.9B Brookfield Takeover Bid

Inter Pipeline Scuttles Pembina Merger, Accepts $6.9B Brookfield Takeover Bid

Toronto-based Brookfield Infrastructure Partners LP won a prolonged takeover contest for Inter Pipeline Ltd. (IPL) in Calgary today after adding an all-cash option to its bid for shareholder support and raising the total offer to about C$8.6 billion ($6.9 billion). At a cost of a deal-breaking penalty of C$350 million ($280 million), IPL canceled a…

July 26, 2021
Canadian Oilsands Player Meg Energy Back in Black on Stronger Prices, Gulf Coast Exports

Canadian Oilsands Player Meg Energy Back in Black on Stronger Prices, Gulf Coast Exports

Increased production, improved prices and strong exports to the United States turned Canadian oilsands specialist Meg Energy Corp. profitable in the first half of 2021, reversing deep losses inflicted a year ago by the Covid-19 pandemic. The Calgary firm’s bitumen production in northeastern Alberta grew to a first-half 2021 average of 91,326 b/d from 83,622…

July 26, 2021
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