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‘The Oil Sands are Canada’s Winning Lottery Ticket’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter As Alberta’s oil sands sector reaches a major economic milestone, a new report shows that emissions growth continues to slow. There is a clear “structural break” for the industry where …
Bloomberg News Suncor Energy Inc.’s crude output from wells in Alberta rose to a record in October on gains at the Firebag oilsands site, which the producer’s chief executive has called a “rock star” operation. Suncor’s wells in the province produced about 284,000 barrels a day last month, the most in data stretching back to 2018 and …
Suncor’s CEO Lauds ‘Rock Star’ Firebag Oilsands Site Read More »
Inventories at this key crude hub at the lowest in a decade for this time of year Bloomberg News Inventories in Cushing, Oklahoma, have been dwindling for the past four months and now sit near the lowest in a decade for this time of year. Photo by Daniel Acker/Bloomberg Oil-storage tanks at a key United States crude …
Canada’s Expanded Trans Mountain Pipeline Has the Tanks at Cushing, Oklahoma Running Dry Read More »
For the first time, Canada’s two main railway companies – Canadian National Railway and Canadian Pacific Kansas City – are on the verge of a simultaneous labor stoppage that could inflict billions of dollars’ worth of economic damage. WHY ARE BOTH COMPANIES POISED TO STOP? Contract talks between the Teamsters union and the companies usually …
Why Canada is on the Verge of an Unprecedented Rail Labor Stoppage Read More »
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 …
