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Canadian oil surge fails to lift producers out of the doldrums

1 day ago DieselGasoil Comments Off on Canadian oil surge fails to lift producers out of the doldrums
By Kevin Orland on 1/20/2019 Photo: Whitecap Resources. CALGARY (Bloomberg) — Alberta’s crude curtailment plan has caused a dramatic rise in the price of heavy Canadian oil. But for shares of energy companies, it hasn’t been as much of a help. Since the production curtailment was unveiled early last month, Western Canadian Select crude has Read More

Alberta keeps oil cuts at January Level as prices surge

2 weeks ago DieselGasoil Comments Off on Alberta keeps oil cuts at January Level as prices surge
By Robert Tuttle on 1/10/2019 CALGARY (Bloomberg) — Alberta’s government maintained its mandated oil curtailment in February at the same level as January even as Canadian heavy oil prices surged. The province’s oil producers collectively must cut February output by 325,000 bpd, according to an email from Mike McKinnon, an energy ministry spokesman. The baseline Read More

Oil sands rebound in 2019 hinges on rail, output cuts, pipeline

4 weeks ago DieselGasoil Comments Off on Oil sands rebound in 2019 hinges on rail, output cuts, pipeline
By Kevin Orland on 12/27/2018 CALGARY (Bloomberg) — The Canadian oil industry could be in for another turbulent year in 2019, depending on how some pivotal events pan out. Government-mandated production cuts and the potential startup of a key crude pipeline are among key developments to watch for next year. Here’s a look at each Read More

Cenovus’s 2019 budget demonstrates cost leadership and capital discipline

1 month ago DieselGasoil Comments Off on Cenovus’s 2019 budget demonstrates cost leadership and capital discipline
CALGARY, Alberta, Dec. 11, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) remains committed to increasing shareholder value through cost leadership, capital discipline and safe and reliable operations. These commitments, in combination with the company’s high-quality upstream assets and joint ownership in strong Refining assets, are expected to further strengthen Cenovus’s ability Read More

Canadian heavy crude surges after Alberta imposes cuts

2 months ago DieselGasoil Comments Off on Canadian heavy crude surges after Alberta imposes cuts
By Robert Tuttle, Catherine Ngai and Sheela Tobben on 12/3/2018 NEW YORK (Bloomberg) — Canadian heavy crude strengthened the most since June after the Alberta government mandated production cuts across the province. Western Canadian Select’s discount to U.S. benchmark West Texas Intermediate narrowed $6/bbl to $23/bbl as of 3:51 p.m. New York time, data compiled Read More

Alberta's Notley leaves oil industry hanging on output-cut idea

2 months ago DieselGasoil Comments Off on Alberta's Notley leaves oil industry hanging on output-cut idea
By Kevin Orland and Kristine Owram on 11/29/2018 CALGARY and TORONTO (Bloomberg) — Alberta Premier Rachel Notley reiterated her call for Canadians to support new oil pipelines and improve two energy bills at a speech in Toronto, but made no mention of whether she’ll mandate crude-production cuts. Suffering from record-low prices because of a supply Read More