While oil prices have dropped below $50 per barrel, expanding market access continues to be a long-term need for Canadian oil and gas producers. Despite lower revenues — the current estimated cost of a barrel of oil in Canada is around $35 — oil product is still expected to grow in 2015. “Canada has the […]
Comment: CAPP has warning for politicians in race to form next government in Alberta
These are volatile times for the oil and natural gas industry. The impact on Albertans has been hard as thousands of jobs have been cut. Drilling and service rigs are idle. Tools are down in machine shops. More office spaces are empty. Restaurants are quieter. Economic activity across Alberta is slowing as uncertainty clouds the […]
Comment: Alberta climate change minister has her work cut out for herself
Diana McQueen has set the bar high in her role as minister for climate change in Alberta. To start with, McQueen is promising Alberta will meet its greenhouse gas reduction targets. “I have a mandate from the premier to meet those reduction targets,” McQueen said. “We will continue to have a strong economy while meeting the 2020 […]
A ruling on treaty rights in Saskatchewan
The Saskatchewan Court of Appeal upheld a ruling against a First Nation that wants to put an end to oil sands exploration on what it says is its traditional territory. Last year a Court of Queen’s Bench judge ruled against the Buffalo River Dene Nation’s challenge of exploration permits issued to Scott Land and Lease. […]
Beluga whales status prompts pipeline company to make changes
TransCanada is not going to build an oil export facility in Québec as part of its Energy East pipeline project. “This decision is the result of the recommended change in status of the Beluga whales to endangered and ongoing discussions we have had with communities and key stakeholders,” said Russ Girling, TransCanada’s president and chief executive […]
2015 a “Perfect Storm” for oil industry
Consider the challenges facing the oil industry this year – rock bottom prices, drought (water shortages), greenhouse gas legislation, new rules regarding First Nations and the stalling of major pipelines – Keystone XL, Northern Gateway to name just two. This was the comment Bryan Helfenbaum started of the session he was moderating at the World […]
Emerging heavy oil players from a conventional source
When it comes to petroleum production both Oman and Kuwait’s GDP sits around 50%. Production costs are low and reserves are plentiful. Now both countries are looking to expand their operations from conventional oil to heavy. Leading the way is Oman. Eng. Ali Al Gheity with Petroleum Development Oman says “the luxury this country has […]
Latin America looks to entice foreign investment in oil industry
“The first lesson in doing business in Latin America”, says SNC Lavelin VP., David Parker, “is to understand the region and its people are not uniformed and homogeneous. The countries have different risks and rewards.” Latin America is rich in petroleum reserves with some of the largest deposits in the world. To extract the riches, […]
Alberta Premier challenged but not deterred
Alberta Premier Jim Prentice told a crowd made up of representatives from the oil industry there are challenges being the largest land locked oil producer in the world, but he has a plan. Prentice was a keynote speaker at the World Heavy Oil Congress taking place in Edmonton, Alberta. Climate change and the environment are […]
Alberta oil sands not down for the count
“These are challenging times. I can’t say it any other way”. This is one of the last comments Alberta Premier Jim Prentice made at a news conference following his speech at the World Heavy Oil Congress. Prentice is counting on oil to hit the $60/barrel mark by next year. He’s basing his next budget on […]
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