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Canada’s Cenovus Profit Soars 83% as MEG Deal Boosts Output, Raises Dividend

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, Oilsands / By

(Reuters) – Cenovus Energy  on Wednesday posted an 83% jump in first-quarter profit, driven by higher crude prices, strong refining margins and increased production ​following its acquisition of MEG Energy. The Canadian oil and gas ‌producer also said it would raise its quarterly base dividend by 10% to 22 Canadian cents per share starting in the …

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Canada Oil and Gas Profits to Surge on Iran War, but Firms Hold off New Investment

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Canadian oil and gas producers anticipate sharply higher profits in 2026 as prices surge due to the Iran war but will channel those earnings back to shareholders rather than invest in major new capital projects, senior executives said on Tuesday. At an annual conference in Toronto, the executives acknowledged their companies’ financial fortunes have changed …

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ENERGY NORTH: Two Canada Oil Projects But Only One, Targeted “Oil Decarbonization” Requirement – Ron Wallace and Tammy Nemeth

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, Oilsands / By

    Ron Wallace and Tammy Nemeth “Investors can’t ignore the commercial constraints imposed by the MoU. My concern is that the MoU does not address the key federal barriers that preclude a free-market approach to the energy industry. Key federal barriers have become conditional, reversible, or deferred.”  Bryan Gould, Executive Chairman Aspenleaf Energy. As …

ENERGY NORTH: Two Canada Oil Projects But Only One, Targeted “Oil Decarbonization” Requirement – Ron Wallace and Tammy Nemeth Read More »

Two Canada Oil Projects But Only One, Targeted “Oil Decarbonization” Requirement – Ron Wallace and Tammy Nemeth

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, Oilsands / By

    Ron Wallace and Tammy Nemeth “Investors can’t ignore the commercial constraints imposed by the MoU. My concern is that the MoU does not address the key federal barriers that preclude a free-market approach to the energy industry. Key federal barriers have become conditional, reversible, or deferred.”  Bryan Gould, Executive Chairman Aspenleaf Energy. As …

Two Canada Oil Projects But Only One, Targeted “Oil Decarbonization” Requirement – Ron Wallace and Tammy Nemeth Read More »

Americas Heavy Crude Prices Hit Multi-Year Highs as Iran Conflict Disrupts Oil Markets

Conventional Energy, Energy Topics & Technology, Latest, Oil, Oilsands, Tri-Pinned, US News / By

Prices for heavy crude produced in the Americas surged to multi-year highs on Wednesday, as the U.S.-Israeli attacks on Iran stymied exports of similar oil produced in the Middle East. Benchmark crude oil prices have surged since the initial attacks last week, with Brent crude at its highest levels since January 2025. Iran has threatened …

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Venezuelan Oil Priced at a Premium to Competing Canadian Barrels for US Gulf Coast Refiners, Traders Say

Energy Topics & Technology, Latest, Oil, Oilsands, US News / By

Venezuelan crude oil was being offered this week to U.S. Gulf Coast refiners at a premium to competing Canadian barrels, two traders said. Venezuelan Merey-16 oil was offered for U.S. Gulf Coast delivery at a discount of around $6 to Brent crude futures earlier this week, a trader said, while West Canadian Select at Houston …

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Rare Brand-New Oil Sands Project Starts Operating in Alberta

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Blackrod SAGD goes full-scale after 15 years of pilot testing By Deborah Jaremko Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The Blackrod SAGD project. Photo courtesy International Petroleum Corporation For the first time in nearly eight years, a brand-new oil sands project is operating in Alberta. It’s …

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Alberta’s Huge Oil Sands Reserves Dwarf U.S. Shale

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Oil sands could maintain current production rates for more than 140 years By Will Gibson Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Pipelines at a thermal in situ oil sands facility. Photo courtesy Alberta Energy Regulator Investor interest in Canadian oil producers, primarily in the Alberta oil sands, …

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Canadian Oilsands Majors Aim to Hold Spending Steady as Broader Industry Braces for Tough Year

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Alberta oilsands more resilient to lower prices than U.S. rivals who are cutting budgets to cope with below US$60 crude By Meghan Potkins   Originally published in the Financial Post – This Story and More by Meghan Potkins Here Canada’s largest oilpatch spenders have begun unveiling their 2026 budgets, with early signs showing oilsands spending …

Canadian Oilsands Majors Aim to Hold Spending Steady as Broader Industry Braces for Tough Year Read More »

Cenovus Energy Forecasts Higher Production in 2026

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Oilsands / By

Canada’s Cenovus Energy on Thursday forecast higher crude oil production for 2026 as major oil sands projects near completion. The company expects upstream production between 945,000 and 985,000 barrels of oil equivalent per day (boepd) for 2026, surpassing its 2025 forecast range of 805,000 to 845,000 boepd.The producer said it would allocate C$850 million in spending …

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