Analysts expect to see lower Canadian oil production this year as producers follow the example of Cenovus Energy Inc. in slashing capital spending budgets amid tumbling oil prices.
Indigenous leaders say they hope other companies will follow the lead of Cenovus Energy Inc. after it pledged to give $10 million per year over the next five years to support housing in six northern Alberta communities near its oilsands operations.
Cenovus Energy Inc. says it will add as much as 70,000 barrels per day of oilsands output following the Alberta government's decision to ease production curtailments for producers that add crude-by-rail capacity.
Oilsands producer Cenovus Energy Inc. is rewarding its shareholders with a 25 per cent increase in its dividend while tightening its spending plans and maintaining "modest" production growth expectations over the next five years.
Higher oil prices spurred by an attack on Saudi Arabian oil facilities boosted the Canadian energy sector on Monday, September 16, 2019, but are expected to result in higher fuel prices for consumers.
Cost-saving synergies from its $3.8-billion purchase of the Canadian heavy oil and oilsands operations of Devon Energy Corp. will likely exceed expectations, Canadian Natural Resources Ltd. said on Thursday, August 1, 2019.
Three of Canada's biggest oilsands producers are going directly to voters today, August 1, 2019, to ask them to "influence the outcome" of big decisions concerning the oil and gas sector as a fall federal election looms.
Canada's largest oil producers are calling on the Alberta government to reward companies that commit to adding crude-by-rail capacity by easing their oil curtailment levels.
Alberta's new premier says the province will launch a constitutional challenge against a federal government bill to ban tankers off British Columbia's northern coast if it goes ahead.
Norway's US$1-trillion wealth fund, the biggest of its kind in the world, will begin dumping shares in oil and gas companies including some Canadian names, but stopped short of barring major producers like Suncor, ExxonMobil and Chevron.