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CALGARY — A free trade arbitration tribunal has tossed out TC Energy Corp.’s claim that it is owed US$15 billion in damages as a result of U.S. President Joe Biden’s cancellation of the Keystone XL pipeline permit. TC Energy launched a claim in 2021 under the legacy rules tied to the old North American Free …
TC Energy’s US$15B Keystone XL Claim Thrown Out by Trade Tribunal Read More »
While Strathcona will own and operate the assets, it will evenly split the upfront capital costs with the federal Canada Growth Fund Bloomberg News Canadian driller Strathcona Resources Ltd. is planning as much as $2 billion in projects to capture carbon dioxide emissions from its oilsands operations, helped by backing from a Canadian public investment vehicle. While Strathcona will …
Strathcona Plans $2 Billion in Oilsands Carbon-Capture Projects Read More »
CALGARY — A wildfire burning out of control in northern Alberta on Thursday prompted Suncor Energy Inc. to withdraw all non-essential workers from its Firebag oilsands site. The company, Canada’s second-largest oilsands producer by volume, confirmed T…
New out-of-control blaze springs up north of Fort McMurray Earlier fire grew in size overnight and came closer to city The unofficial capital of Canada’s oil-sands industry is now facing a second wildfire that’s north of the city and closer to major energy operations. The new blaze near Fort McMurray, Alberta, is about 3 hectares …
Oil-Sands Capital of Canada Now Grappling With Second Wildfire Read More »
U.S. crude oil, gasoline and distillate inventories fell last week as refining activity picked up, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 2.5 million barrels to 457 million barrels in the week ending May 10, the EIA said, compared with analysts’ expectations in a Reuters poll for a 543,000-barrel draw. …
U.S. Crude, Gasoline and Distillate Inventories Fall, EIA Says Read More »
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) held steady on Monday:* WCS for June delivery in Hardisty, Alberta, settled at $12.75 a barrel below WTI, according to brokerage CalRock, unchanged from Friday’s closing price. * Canadian heavy crude has strengthened this month as the …
(Reuters) – Mexican export cuts and a rerouting of Canadian output are shrinking already limited supplies of heavy crude in the Atlantic basin, driving up refiners’ costs with a likely knock-on effect to industries ranging from shipping and construction to Middle Eastern power plants. Prolonged OPEC supply cuts and international sanctions on Venezuela, Iran and …
Heavy Oil Shortage Spells Higher Cost for U.S. Shippers, Road Builders Read More »
A U.S. regulator’s censure of a top U.S. oil executive over private meetings with the Organization of the Petroleum Exporting Countries (OPEC) group of oil producers has put a spotlight on dinners attended by dozens of shale executives. The U.S. Federal Trade Commission (FTC) on Thursday barred former Pioneer Natural Resources CEO Scott Sheffield from …
U.S. Oil Executive Censure Puts Spotlight on Shale-OPEC Meetings Read More »
(Reuters) – After 12 years and C$34 billion ($24.7 billion), Canada’s Trans Mountain pipeline expansion project (TMX) is set to start shipping oil on Wednesday, a major milestone expected to transform access to global markets for the country’s producers. Pipeline constraints have forced Canadian oil producers to sell oil at a discount for many years, but TMX …
Canada’s Long-Delayed Trans Mountain Oil Pipeline Set to Start Operations Read More »
Pipeline will almost triple shipments, bringing oilsands into direct competition with Iraq crude Bloomberg News Canada’s newest oil pipeline may spell trouble for a Middle Eastern country almost 7,000 miles away: Iraq. The Trans Mountain pipeline’s expansion, which will almost triple Alberta oilsands producers’ ability to ship their heavy crude to the Pacific Coast, will most directly affect …
Canada’s Trans Mountain Pipeline Expansion Could be Trouble for OPEC Member Iraq Read More »
