A reduction in price discounts on Canadian oil following Alberta government-ordered production cuts this year has put more money in producer pockets and that's fuelling more oilpatch activity, according to the head of Ensign Energy Services Inc.
Gasoline prices are expected to remain just below record highs all across Canada this summer except in Vancouver — where a perfect storm of factors will likely ensure motorists continue to set new all-time records at the pumps.
Crude-by-rail shipments from Western Canada staged a minor recovery in March after falling in February to their lowest level in nine months, but oil storage levels remain stubbornly high, according to Genscape.
Global energy giant Royal Dutch Shell is urging Canada's largest oil and gas organization to get off the fence and support both the Paris climate accord and the pricing of carbon to encourage greenhouse gas emission reductions.
Pengrowth Energy Corp. has launched a strategic review of options that could include the sale of the company after failing to renegotiate its high debt load amid plunging western Canadian oil prices late last year.
The Alberta government's decision to spend $3.7 billion to move more crude by rail is an unintended consequence of its poorly considered production cut order, executives with Husky Energy Inc. charged on Tuesday, February 26, 2019.
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.
Shares in Precision Drilling Corp. closed up almost 15 per cent on Thursday, February 14, 2019, on the Toronto Stock Exchange after it reported strong operational results from its U.S. branch in the fourth quarter.