Regional News: Canada

 
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Canada Oil Sands Fork Over Billions for 500,000 Unneeded Barrels
Friday, September 04, 2015 The last place oil producers want to be when prices plummet to profit-demolishing lows is midstream on a billion-dollar project in one of the costliest parts of the planet to extract crude.

Penn West Petroleum Lowers Capex, Suspends Dividend, to Cut Jobs
Tuesday, September 01, 2015 Penn West Petroleum has cut its 2015 capital budget for the third time this year, suspended its dividend and said it would lay off about 35% of its workforce as it copes with the slump in crude oil prices.

Penn West, ConocoPhillips Cut Combined 900 Jobs In Canada
Tuesday, September 01, 2015 ConocoPhillips and Penn West Petroleum are eliminating a combined 900 jobs in Canada, the two companies say, as low oil prices persist.

Two New Canadian Oil Sands Projects Started Despite Price Pain
Tuesday, September 01, 2015 ConocoPhillips and Husky Energy announce key milestones in bringing two new oil sands projects online.

Canadian Oil Sands Halts Syncrude Production After Fire, Prices Spike
Monday, August 31, 2015 Canadian Oil Sands Ltd halts crude oil production after a fire damaged equipment at its processing facility in northern Alberta.

  


Canada's Alberta Forecasts Record Budget Deficit
Monday, August 31, 2015 The Canadian province of Alberta, which has been hammered by falling crude prices, is forecasting a record budget deficit of C$5.9 billion ($4.49 billion) this year, which could increase to C$6.5 billion, Finance Minister Joe Ceci says.

Alberta To Keep Oil, Gas Royalty Framework To End-2016
Friday, August 28, 2015 Alberta's oil and gas royalty framework will remain in place until the end of 2016, Energy Minister Marg McCuaig-Boyd says.

Report: Most Canada Oil Sands Crude Being Produced at a Loss
Friday, August 21, 2015 More than three-quarters of Canada's daily output of 2.2 million barrels of crude from oil sands is being produced at a loss at current prices, research from analysts at TD Securities shows, although producers are unlikely to halt operations.

JOGMEC, Inpex Commence Study on Technology for Shale Gas Project in Canada
Thursday, August 20, 2015 Japan's JOGMEC and Inpex commence joint study on technology on shale gas development in British Columbia, Canada with IGBC and Nexen.

As Canada's Oil Debt Soars to Record, an Industry Shakeout Looms
Wednesday, August 19, 2015 Canadian energy companies' debt loads are the heaviest in at least a decade, boosting concern that some won't survive the collapse in crude prices.

Ontario Board Sees More Risk Than Gain in Energy East Pipe
Thursday, August 13, 2015 TransCanada's proposed Energy East pipeline will create more risk than gain for Ontario, according to a regulator asked by the provincial government to study the impact of the $9.2B.

Canadian Heavy Crude Slumps To Lowest In At Least A Decade
Wednesday, August 12, 2015 Heavy Canadian crude slumps to its lowest level in at least a decade after Enbridge closed two of its main pipelines in the United States because of a leak.

Athabasca Cuts Output As Alliance Gas Pipeline Shutdown Continues
Monday, August 10, 2015 Athabasca suspended the production of 4,200 boepd of light oil, becoming the latest western Canadian producer to curb output due to the Alliance Pipeline natural gas mainline shutdown.