Investment in Canada’s oilpatch forecast to rise

Capital spending in the oil and natural gas industry to be about $2 billion higher in 2020 compared to last year, according to CAPP

Investment in Canada’s oilpatch forecast to riseThe Canadian Association of Petroleum Producers is forecasting capital spending in the oil and natural gas industry to be about $2 billion higher in 2020 compared to last year, representing a four per cent hike in capital investment in the conventional side, and an eight per cent increase in the oil sands. In a news…

Alberta economy dependent on oil and gas extraction sector

Generated more real GDP in Alberta - $92.9 billion - than the entire manufacturing sector of Ontario in 2018 which was $89.6 billion

Alberta economy dependent on oil and gas extraction sectorThe oil and gas extraction sector has always been considered a huge part of the Alberta economy. But data put together by ATB Financial's Economics & Research Team shows just how dependent the province is on the energy industry. "There are a lot of other players on Alberta’s economic team—from agriculture and tourism to high-tech…

Alberta to lead Canada in economic growth in 2021

Stronger energy sector investment activity expected to propel the bulk of output gains in 2021. Investment activity should also pick up outside the oil and gas sector

Alberta to lead Canada in economic growth in 2021Alberta’s economy is forecast to rebound this year and then lead the country in growth in 2021, according to a new report released Tuesday by Scotiabank Economics.  In its latest Provincial Outlook, the bank said the province’s economy grew by an estimated 0.5 per cent in 2019 but will experience another 1.6 per cent growth…

Cenovus vows to cut emissions intensity, restore habitat

Plans include $1.5 billion of new spending with Indigenous businesses, reclaim 1,500 decommissioned well sites, retore wildlife habitat

Cenovus vows to cut emissions intensity, restore habitatCenovus Energy announced Thursday it is aiming to reduce its emissions intensity by 30 per cent by 2030, as part of a sweeping environmental initiative. It also plans to achieve a minimum of $1.5 billion of additional spending with Indigenous businesses, reclaim 1,500 decommissioned well sites and complete $40 million of caribou habitat restoration work.…

CNRL budget up by $250M with curtailment ease

Budget increase adds 60 drilling locations across Alberta and three more working drilling rigs, creating about 1,000 full-time jobs

CNRL budget up by $250M with curtailment easeCalgary-based energy giant Canadian Natural Resources Limited is increasing its capital expenditure to $4.05 billion in 2020, the company announced on Wednesday. With the Alberta government's recent announcement of the elimination of curtailment for some conventional drilling in Alberta, and its previously announced reduction in income tax rates, CNRL increased its 2020 capital budget by…

Crude oil production to grow by nearly 50% by 2040: report

Canada's Energy Regulator projects domestic fossil fuel consumption growth slows, crude oil and natural gas production continues to increase

Crude oil production to grow by nearly 50% by 2040: reportA report released Tuesday by Canada Energy Regulator says infrastructure developments and climate policy will impact Canadian energy consumption and production trends over the next 20 years and crude oil production is expected to grow by nearly 50 per cent. Canada's Energy Future 2019: Energy Supply and Demand Projections to 2040 show that while domestic…

Suncor capital plans for 2020 set at $5.4-$6 billion

Upstream production is expected to reach 800,000 to 840,000 barrels of oil equivalent per day, an increase of about five per cent

Suncor capital plans for 2020 set at $5.4-$6 billionCalgary-based Suncor Energy says its capital investment program is set at $5.4 to $6 billion in 2020 with upstream production expected to be between 800,000 to 840,000 barrels of oil equivalent per day (boe/d), an increase of about five per cent production. “During 2019, we've demonstrated the value of our asset integration and flexibility through…

Husky Energy cutting planned capital spending by $500 M

Capital spending in 2020 will be directed towards advancing the Lloyd thermal project and ongoing construction of a project in the Atlantic region

Husky Energy cutting planned capital spending by $500 MCalgary-based Husky Energy announced Monday it is reducing its capital program by half-a-billion dollars in 2022 and 2020. “We are continuing to focus on safe and reliable operations as we build on our improved 2019 performance and work towards our target of becoming a global top-quartile process safety performer by the end of 2022,” CEO…

Virtual reality tool will track changes in the oil, gas industry

Users can experience everything from watching a smart pig detect the health of a pipeline to seeing the largest trucks in the world at work

Virtual reality tool will track changes in the oil, gas industryA first-of-its-kind virtual reality tour of Canada’s oil and gas worksites will raise awareness about changes in the industry. The Experience the Energy: Take the Tour platform is an initiative by the PetroLMI Division of Energy Safety Canada. It showcases the careers, the innovation and technologies that are transforming the energy industry. “Over the past…

$30 billion may be trapped in oil and gas balance sheets

Low oil prices, pressure to decarbonize and increasing geopolitical have dominated oil and gas tensions

$30 billion may be trapped in oil and gas balance sheetsAs much as $30 billion of cash is untapped by Canadian oil and gas companies and an overall $230 billion in North America, according to an industry report. “The Canadian oil and gas industry has been dominated by challenges such as low oil prices, pressure to decarbonize and increasing geopolitical tensions for the last five…
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