The oil price crash of recent weeks has triggered a wave of huge exploration and production capital expenditure cuts
Lack of appetite to invest in the energy sector is leading the world into a supply crunch, says the International Energy Agency (IEA) in its recently unveiled World Energy Investment (WEI) 2020 report. The COVID-19 pandemic is having widespread and often dramatic effects on investments in the energy sector. At the start of the year,…
How one University of Alberta student persevered after losing brother in the Humboldt Broncos bus crash
The loss of her brother in a horrific bus crash that killed 16 members of the Humboldt Broncos hockey team will never leave Mariko Boulet, but as she graduates with her University of Alberta degree on June 12, she hopes it will make her a better person. “I think I’ve become a more loving, understanding…
The COVID-19 crisis can’t be used as an excuse to kill one of Canada’s largest, best-paying industries, which benefits us all
Mark Milke and Lennie Kaplan Canadian Energy Centre While the world grapples with the COVID-19 pandemic and an economic downturn, anti-energy activists have spotted an opportunity: to kill off Canada’s oil and gas industry – the one that provides hundreds of thousands of jobs and hundreds of billions of dollars in tax revenues to governments.…
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…
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…