Canada won’t stop trying to convince U.S. President-Elect Joe Biden of the merits of the Keystone XL pipeline expansion, Prime Minister Justin Trudeau insisted Tuesday. But even Trudeau’s full-throated defence of the controversial cross-border project, which Biden appears poised to cancel on Wednesday, betrayed a note of resignation. Asked pointedly what he planned to do […]
Top officials in Canada want a chance to make the case for a long disputed oil pipeline to be built amid reports President-elect Joe Biden will cancel Keystone XL. Alberta Premier Jason Kenney said Monday he will seek legal damages if reports are true that Biden plans to scrap the pipeline on his first day […]
The Canadian Association of Petroleum Producers (CAPP) is forecasting a 14 per cent increase in upstream natural gas and oil investment in 2021. Capital spending in the sector is expected to be around $3.36 billion higher this year, reaching $27.3 billion, compared to an estimated total investment of $24 billion in 2020. The planned investment […]
The Government of Saskatchewan announced $200 million for the second phase of the province’s Accelerated Site Closure Program (ASCP). The money will support more than 2,000 full-time equivalent jobs and reclaim up to 8,000 inactive wells and facilities over two years. Phase Two of the program will run from January 2021 to March 2022. The […]
Calgary-based Whitecap Resources Inc. is cementing its position as a consolidator of conventional oil and gas producers in Western Canada with a friendly $550-million all-stock deal to buy rival TORC Oil & Gas Ltd. “This strong-on-strong combination will create one of the largest pure-play Canadian conventional light oil producers and the ninth largest publicly traded […]
Crescent Point Energy Corp. says it is cutting its capital spending budget for 2021 because of the ongoing volatility in oil prices. The Calgary-based company says it plans to spend between $475 million and $525 million next year, trimming $25 million from a preliminary budget it released with its third-quarter results report in late October. […]
TC Energy Corporation has signed an agreement with Natural Law Energy allowing NLE to make an equity investment of up to $1 billion in the Keystone XL Pipeline project. NLE is an alliance of Indigenous Nations in Treaties 4, 6, and 7 territories, stretching from Alberta to Manitoba, encompassing much of Southern Saskatchewan. The first […]
Cenovus Energy Inc. will buy Husky Energy Inc. in an all-stock transaction valued at $23.6 billion, the Calgary-based companies said Sunday in a joint announcement. The merged Cenovus Energy Inc. will remain headquartered in Alberta. The deal would combine the companies into a new integrated oil and gas business with increased and more stable cash […]
The Canada Energy Regulator says most, but not all, western Canadian oil production has been restored after being cut because of low prices amid the COVID-19 pandemic. The national agency says western Canadian oil supply had slipped by as much as 972,000 barrels per day by mid-May as demand fell due to pandemic lockdowns and […]
With a second wave of COVID-19 hitting the country, a report from Scotiabank shows Saskatchewan is handling several economic areas quite well with a lot of credit going to the fact the province has done a good job in containing the virus. The Scotiabank Provincial Outlook shows that while the province is getting hurt by […]
