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Analysts call for more pipeline capacity amid tightening global heavy oil market By Will Gibson Alberta’s oil sands have emerged as one of North America’s most attractive oil plays as costs rise in competing basins like the Permian in Texas, according to a recent report. The oil sands hold 177 billion barrels of proved reserves, making it the …
Bloomberg News Wildfires have erupted in Canada’s oilsands-producing region of Alberta with large blazes within 20 kilometres of about half a million barrels a day of crude production. A total of six out-of-control fires are burning in the Lac la Biche region, where many of the largest in-situ oilsands well sites are located, with the biggest …
Wildfires Break Out in Canada’s Oil Sands Region Read More »
There’s no pipeline without Pathways and no Pathways without a pipeline. That was the quid pro quo spelled out in a sweeping energy accord signed between Alberta and Ottawa in November. Alberta is spearheading early planning and regulatory work on a potential new one-million-barrel-a-day pipeline to the West Coast that would provide an outlet for …
(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 …
Canada’s Cenovus Profit Soars 83% as MEG Deal Boosts Output, Raises Dividend Read More »
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 …
Canada Oil and Gas Profits to Surge on Iran War, but Firms Hold off New Investment Read More »
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 …
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 …
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 …
Americas Heavy Crude Prices Hit Multi-Year Highs as Iran Conflict Disrupts Oil Markets Read More »
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 …
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 …
Rare Brand-New Oil Sands Project Starts Operating in Alberta Read More »
