Capital spending in Alberta’s oilpatch continues to decline
While still significant at $16.6 billion, this year’s spending will be 30 per cent (-$7.1 billion) below the amount spent in 2019 and 58 per cent (-$228 billion) below the 10-year average
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Campaign launched to promote energy sector
Tom Olsen, CEO of the Canadian Energy Centre, talks about a campaign launched to promote the energy sector
Suncor Energy operating loss close to $1.5 billion in Q2
In the second quarter of 2020, crude oil and refined product realizations decreased significantly, with crude oil and crack spread benchmarks declining by more than 50 per cent
Hard hit oil and gas sector leads to GDP decline
The anticipated reduction in oil and gas production and investment will be dramatic and will lead to significant drops in GDP and total number of jobs
State of Canada’s energy sector
Tim McMillan, President and CEO of the Canadian Association of Petroleum Producers, talks about the state of the industry amid lower oil prices and the COVID crisis
Canadian crude oil production plunges amid COVID-19
Canada produced 129.2 million barrel of crude oil and equivalent products in April, down 9% from April 2019, largest year-over-year decrease since June 2016
Natural resource sector a key to Alberta’s economy
Weak oil prices and pipeline bottlenecks have pushed the number of jobs in Alberta down by about 32,000 (16 per cent) since the peak reached in 2013
Canadian industries see another decline in capacity
The capacity utilization rate in the mining, quarrying, and oil and gas extraction sector was unchanged at 77.8 per cent in the first quarter
Capital spending dives in Alberta’s oil and gas industry
Low energy prices, market access constraints, and higher-efficiency wells led to less capital spent on drilling programs, says Alberta Energy Regulator
CAPP seeking federal government support for industry
CAPP said the oil and natural gas sector is Canada’s largest industry, generating more than $100 billion in gross domestic product (GDP) annually
Crude oil production slowly ramping up in Canada
Decrease in oil sands extraction, which includes crude bitumen and synthetic crude oil, down 1.9 per cent to 478.6 thousand cubic metres
Open letter from CEOs of Oil and Gas Climate Initiative on COVID
“The Covid-19 crisis is further crystallizing our focus on what is essential: health, safety and protection of the environment,” said the letter
Enbridge sees $1.43 billion loss attributable to common shareholders in Q1
After a comprehensive review of its operating expenditures, the company plans to reduce 2020 costs by approximately $300 million
