Higher volumes from its growing stable of oil and gas pipelines in the United States and Canada drove improvements in fourth-quarter earnings, TransCanada Corp. reported on Thursday, February 14, 2019.
Prime Minister Justin Trudeau says Alberta is in a crisis as the province's oil is being sold at a discount of about $45 a barrel, but he and some oil company bosses agree there are no easy fixes Ottawa can offer.
Cenovus Energy Inc. says it will consider slowing development of a 50,000-barrel-per-day oilsands expansion project that it started building early last year if there isn't meaningful progress on increasing pipeline capacity out of Alberta.
Cenovus Energy Inc. said Thursday it has been running its oilsands operations at reduced production rates and storing excess barrels due to wider-than-normal light-heavy oil price differentials and pipeline capacity constraints.
Two years after a blue-ribbon panel called on the Alberta government to encourage partial upgrading of bitumen from the oilsands to enhance value and free up more pipeline room for exports, the idea remains years away from commercialization.
Husky Energy Inc. is joining other major oilsands producers in setting a short-term emissions intensity reduction target as a preliminary step as it works on a way to achieve net zero emissions by 2050.