Oilsands

Canadian Fires Present Wildcard for Natural Gas Production, Imports to Western U.S. and Prices

Canadian Fires Present Wildcard for Natural Gas Production, Imports to Western U.S. and Prices

Following a record-setting outbreak in 2023, a fast start to the wildfire season is already threatening interruptions to Canada’s largest crude oil production region. Blazes in the western reaches of the country, if not contained, could also hamper natural gas output in a potential replay of last summer. Impacts to either would present possible implications…

May 20, 2024
Canadian Natural Sees LNG Demand Boosting Natural Gas Prices Next Year 

Canadian Natural Sees LNG Demand Boosting Natural Gas Prices Next Year 

Alberta’s Canadian Natural Resources Ltd. is taking a glass-half-full view of the current natural gas price slump, according to CEO Scott Stauth. Stauth hosted a conference call to discuss first quarter earnings for Calgary-based Canadian Natural, one of the country’s largest independent natural gas producers. The company’s gas-focused operations target the Montney Shale and Alberta…

May 14, 2024
Inflation in U.S. Onshore, Surmont Takeover Push Costs Higher for ConocoPhillips

Inflation in U.S. Onshore, Surmont Takeover Push Costs Higher for ConocoPhillips

ConocoPhillips on Thursday boosted its oil and natural gas production guidance for the remainder of the year and said it expects to spend more now that it has taken full control of the Surmont oilsands site in Alberta.  Full-year oil and natural gas production is now expected to come in at 1.82 million boe/d, up…

November 3, 2023
Future of Canada’s Natural Gas, Oil Industry Debated by National, Alberta Leaders

Future of Canada’s Natural Gas, Oil Industry Debated by National, Alberta Leaders

Canadian leaders traded barbs on Monday about the future of the nation’s natural gas and oil at international conferences in Calgary and in New York City At the World Petroleum Conference in Calgary, Alberta Premier Danielle Smith repeated a vow to cut greenhouse gas (GHG) emissions but said the province’s gas and oil production was…

September 19, 2023
Trans Mountain Expansion to Advance Crude Exports, Bolster Natural Gas Demand in Alberta Oilsands

Trans Mountain Expansion to Advance Crude Exports, Bolster Natural Gas Demand in Alberta Oilsands

A target of 1Q2024 has been set for starting overseas crude oil exports on the nearly completed Trans Mountain Pipeline expansion (TMX). By almost tripling capacity to 890,000 b/d on the 704-mile route across Alberta and British Columbia, the project would foster increased natural gas consumption as the fuel for growing bitumen production in the…

June 7, 2023
Suncor Scores with Oilsands Operations as Commodity Prices Jump  

Suncor Scores with Oilsands Operations as Commodity Prices Jump  

Increased production prices and strong retail fuel demand nearly doubled the quarterly earnings for Canadian oilsands heavyweight Suncor Energy Inc.  The Calgary producer tapped the northern Alberta oilsands for average production of 665,200 b/d, or 90% of 2022 production. That was up from 644,200 b/d in 2021. The company, which reports in Canadian dollars (C$1.00/US…

February 15, 2023
Could Canada’s Oilsands Outlast the Competition in North America?

Could Canada’s Oilsands Outlast the Competition in North America?

The Canadian oilsands stand out as a champion survivor capable of enduring even the global demand shrinkage sought by fossil fuel critics, according to a research paper circulated by the C.D. Howe Institute. Author G. Kent Fellows, a University of Calgary economics professor, is predicting the Alberta industry will show endurance in the paper, titled…

December 23, 2022
Cenovus Gives Positive Outlook for 2023 with Jump in Offshore, Oilsands Production

Cenovus Gives Positive Outlook for 2023 with Jump in Offshore, Oilsands Production

A start on additions to oil production offshore Newfoundland topped the 2023 growth agenda prompting a 50% budget increase for 2023 by Calgary-based Cenovus Energy Inc. Spending would jump to C$600-700 million ($450-525 million) in 2023 to begin work on a new platform and drilling, dubbed West White Rose, 180 miles east of Newfoundland’s capital,…

December 7, 2022
Canadian Policymakers Working to Shield Consumers as Energy Transition Edges Forward

Canadian Policymakers Working to Shield Consumers as Energy Transition Edges Forward

Canadian provincial governments have moved to shield customers in four major regions from increased costs associated with federal greenhouse gas (GHG) reduction policies that had previously fallen between the cracks. The moves by Alberta, Ontario. Nova Scotia and Quebec tackle a gap left by the carbon tax, a cornerstone of Canada’s GHG reduction policy. The…

October 25, 2022
Suncor Selling Wind, Solar Assets to Focus on Oilsands, CCS and Hydrogen

Suncor Selling Wind, Solar Assets to Focus on Oilsands, CCS and Hydrogen

Suncor Energy Inc. plans to sell its wind and solar portfolio for C$730 million ($547 million) to a subsidiary of Calgary-based Atco Industries Inc. Suncor CEO Kris Smith said the transaction with Canadian Utilities Ltd. (CUL) “streamlines our portfolio” to focus on oilsands, refining, hydrogen, renewable fuel, and carbon capture and storage (CCS). CUL Vice…

October 6, 2022
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