With demand and supply shock acting simultaneously, crude markets are imploding. And this is just the tip of the iceberg
The global oil war is on and no one seems to be blinking. Saudi Arabia is set to increase its crude oil exports in May by about 600,000 barrels per day (bpd), bringing its total petroleum exports to 10.6 million bpd, an official at the Saudi Arabian Energy Ministry told the Saudi Press Agency. Russia…
Necessity was the mother of invention for Marlon McDougall. After 35 years in the oil and gas industry, McDougall was frustrated with the pressures of regulations, environmentalism, pipeline restrictions and the need for expensive technologies as more easily accessible reserves were depleted. Then, in 2019, he was approached to work with what’s been called “the…
Oil sands extraction declined largely because of shutdowns and maintenance of some production facilities. Crude oil extraction also falls
The natural resources sector in Canada continues to be challenged. A new report released Friday by Statistics Canada said real gross domestic product (GDP) of the natural resources sector fell 2.2 per cent in the third quarter, following a 2.8 per cent rise in the second quarter. The federal agency said the decline was largely…
Limited cash flow also a concern for business owners when it comes to investing in their companies these days, according to BDC survey
Many Canadian entrepreneurs will continue investing in their companies in 2020 despite growing uncertainty about world economies. But business owners in the Prairies are the most pessimistic, mostly because of low commodity prices and limited cash flow, says the latest annual survey by BDC. The study on investment intentions found that entrepreneurs in the manufacturing…
Alberta produced 18.3 million cubic metres of crude oil and equivalent products in October, down 4.9 per cent
Energy production in Canada declined in several sectors in October 2019, compared with the same month in 2018, according to Statistics Canada. The federal agency said production of crude oil and equivalent products (-1.7 per cent), natural gas (-1.3 per cent), and coal (-9.3 per cent), as well as electricity generation (-3.3 per cent) declined…
Fell by 35 per cent in Alberta, 1.9 per cent in Manitoba and by 1.4 per cent in Saskatchewan
A cold, wet spring and summer on the Prairies took a devastating toll on honey production this year in Alberta, Saskatchewan and Manitoba, Statistics Canada reports. Production in Alberta, the largest honey-producing province in Canada, fell by 35 per cent to 25.1 million pounds, which was the lowest level since 2000, according to the federal…
Blocking Prairie oil is not about the environment. And neither is it about safety. It's all about politics and control
In mocking response to those wishing to separate, some quip that Alberta would remain landlocked the day after it becomes independent. With a more respectful tone, Alberta’s premier used similar words in his recent “fair deal for Alberta” speech. Those endorsing and those opposing Alberta’s separation from Canada would benefit from a clear statement of…
StatsCan said crude oil delivered by pipelines to Canadian refineries was up 9.1% to 8.6 million cubic metres
Energy production in Canada declined in several sectors in August compared with the same month in 2018, according to Statistics Canada. The federal agency reported on Monday that production of crude oil and equivalent products (-2.4 per cent), natural gas (-4.8 per cent) and coal (-5.2 per cent), as well as electricity generation (-3.6 per…
Capital, companies, equipment and crews are leaving Canada for better opportunities, with the U.S. an easy choice: PSAC
The Petroleum Services Association of Canada has decreased its forecast for the number of wells expected to be drilled across Canada for this year. In its third update to its 2019 Canadian Drilling Activity Forecast, PSAC revised its number from 5,300 (May 2019 revision) to 5,100 wells drilled. PSAC now projects 2,425 wells to be…
This Crown corporation’s long-term future is safest in private, rather than public, hands
By Dónal Gill Research Associate Frontier Centre for Public Policy The Frontier Centre for Public Policy recently released Running Hard to Adapt in a Dangerously Fast-Changing Industry by Ian Madsen, a senior policy analyst with the centre. The paper conducts an in-depth valuation and strategic appraisal of SaskPower, using an intrinsic value method and market-based…