Alberta predicting $2.4-billion surplus for petro-powered economy
Alberta is predicting a $2.4-billion budget surplus for its petro-powered economy this year, with plans to take a big bite out of its debt and put up guardrails to prevent eye-popping deficits when oil booms go bust.
Oil well cleanup program listed as ‘key objective’ in Alberta’s pre-election budget
By Bob Weber in Edmonton Alberta Premier Danielle Smith's last budget before an expected spring election gives strong support to a proposed tax break for energy companies to fulfil their legal cleanup duties but doesn't tell voters how much would be spent on it. The...
Baytex signs agreement to buy Ranger Oil in deal valued at $3.4B including debt
Baytex Energy Corp. has signed a deal to buy U.S. company Ranger Oil Corp. in a deal valued at C$3.4 billion, including assumed debt.
Ranger Oil operates in the Eagle Ford shale region in south Texas, an area where Baytex also has assets.
Ken From: Norway: Canada who is the climate hypocrite?
Norway is seemingly a paradox: they want to be at the forefront of international efforts to address climate change, yet the country aims to cash in on oil and gas for years to come. Norway’s centre-left government has said its lucrative oil and gas sector will be...
Alberta expecting another gusher in budget ahead of provincial election
Alberta is scheduled to introduce its budget Tuesday — the last before a spring provincial election — with political observers wondering what the province will do with all its billions of extra petrodollars.
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Jim Warren: EU sanctions have not derailed Russian oil exports
Putin’s Russia may indeed be incompetent at managing a large modern military. But when it comes to evading international rules around things like laundering the proceeds of crime and large scale corruption, Russians are world leaders.
That’s why news reports in January claiming a new set of EU sanctions on Russian oil exports was actually working seemed hard to believe.
Lithium in SK, Part 13B: Hub City announces highest lithium concentration to date, by a significant margin
REGINA – Last fall, Hub City Lithium drilled its first test well just west of the Viewfield crater, south of Stoughton. And on Feb. 21, ROK Resources, the operator and 25 per cent owner of Hub City, announced brine lithium concentrations that are the highest, by a substantial margin, publicly released to date in Saskatchewan. The balance of Hub City is owned by EMP Metals Corp.
This well, confirmed by third-party testing, showed lithium concentrations in the Duperow formation of up to 259 mg/L (milligrams per litre). ROK noted in a release that “According to public records, these test Results are the highest lithium concentrations ever recorded in a brine in Canada.”
Ukraine war shook up markets, but much stays the same for Canadian oil and gas
CALGARY — When Russian tanks and troops rolled into Ukraine one year ago, it was no shock that crude prices spiked above US$100 per barrel for the first time since 2014.
With Russia controlling 10 per cent of the world’s crude oil supply, many observers in the early days of the conflict predicted the war and Western sanctions against Russia could disrupt energy markets for years to come.
German energy boss warns: Don’t let guard down on gas supply
BONN, Germany (AP) — The temperature outside Klaus Mueller’s office almost resembles spring, exactly the kind of mild weather that helped Germany get through the winter without Russian natural gas.
But Germany’s chief utility regulator is not ready to sound the all clear on an energy crisis spawned by the war in Ukraine, even with natural gas reserves abundant and prices well down from their peak.
Too much could go wrong — especially if consumers and companies grow weary of the conservation habits they learned during a winter fraught with fear of rolling blackouts and rationing, Mueller, head of the Federal Network Agency, said in an interview Wednesday with The Associated Press.
Record oil profits ‘enough to make you ball up your fists,’ says N.L. minister
After handing oil companies more than $280 million in cash during the COVID-19 pandemic, Newfoundland and Labrador’s energy minister says it’s tough to watch those same companies rake in record-shattering profits.
Andrew Parsons took on the energy portfolio in August 2020, about a month before crashing global oil prices prompted Husky Energy — which has since merged with Cenovus — to announce it was considering abandoning its oilfield off the province’s east coast. On Thursday, Cenovus reported 2022 revenue of $11.4-billion — nearly double its revenue for 2021.
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Alberta wind generation falls to 0.3% capacity at supper on Thursday, battery output 0.09% over 30 days
The chant for this weekend’s Telemiracle telethon in Saskatchewan is “Where are we going? Higher!” But when it came to wind power production in Alberta on Feb. 23, then answer to “Where are we going?” was “Lower!”
As the afternoon led into the supper hour, wind power generation had collapsed across the entire province, floating between 11 and 20 megawatts throughout the 5 o’clock hour. This occurred just as the sun was setting over the Rockies, as solar power production had dropped to 34 megawatts out of a nameplate capacity of 1,165 megawatts. As always it happens every night, it would drop to zero.
Judge grants motion by state of Michigan to appeal key decision in Line 5 dispute
By James McCarten in Washington The U.S. judge presiding over Michigan's bid to shut down the Line 5 pipeline has given her blessing to the state to appeal one of her key findings, breathing new life into a strategy that hinges on getting the dispute heard by a...
Ahead of energy talks, Quebec premier says open to paying N.L. more for electricity
By Sarah Smellie in St. John's Quebec Premier François Legault says he is ready to make "adjustments" to the Churchill Falls energy agreement between his province and Newfoundland and Labrador ahead of the official end to the contract in 2041. Speaking to reporters...
Patchwork Podcast: Lex Ewen of Edge Liability Risk Management
The New Lloydminster Nissan’s Patchwork Podcast’s Kurt Price and Tracy Klotz get together with Lex Ewen from Edge Liability Risk Management. Reclamation and just transition are on the agenda.
Ahead of Quebec premier’s visit, provincial panel recommends new Churchill Falls deal
ST. JOHNS - As Newfoundland and Labrador Premier Andrew Furey prepares for energy talks this week with Quebec Premier François Legault, an expert panel is recommending the two strike a new Churchill Falls hydroelectric energy deal. The existing agreement between the...
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Hearing and respiratory protection, impact gloves to be discussed at ESC SK meeting in Weyburn March 8
If your company uses breathing apparatus or gloves (and really, who doesn’t?) you might want to send a representative to Weyburn to see what’s new in those lines of personal protective equipment.
Suncor announces Rich Kruger as new president and CEO
Suncor Energy Inc. has announced Rich Kruger as the company’s new president and CEO.
Nemeth Report Podcast: Dr. Tammy Nemeth and Pipeline Online editor Brian Zinchuk on energy
Energy researcher and historian Dr. Tammy Nemeth recently spoke with Pipeline Online editor and owner Brian Zinchuk on a wide variety of energy and energy transition issues facing Saskatchewan and Canada.
PTRC to host ISO plenary conference on CO2 storage in oil and gas fields
The PTRC will be hosting the Plenary Conference of the International Organization for Standardization (ISO) Technical Committee 265 (ISO/TC265) on June 5th to 9th, 2023 in Regina.
The City of Regina is the birthplace of the World’s first CCS Standards (CSA Z741) that were developed by Canadian experts some 12 years ago, by a team that included PTRC’s leadership. Canada is now leading the development of the ISO International Standards.
Oil and gas marks another year of over $1B in R&D spending
Major Canadian oil and gas companies are cranking up spending on research and development aimed at reducing emissions and improving operational efficiency.
Suncor Energy, Canadian Natural Resources, Imperial Oil, Syncrude, and TC Energy spent $1.17 billion in 2021 compared to $1.01 billion in 2020, says a recent Research Infosource report. That maintains a world-leading trend since 2012 of major oil and gas companies collectively spending more than $1 billion per year on research and development (R&D).
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More LNG projects needed as European demand takes on larger importance: report
The world needs more liquefied natural gas (LNG) projects to meet rising demand as Europe emerges as a key import region, according to the latest industry outlook.
Europe’s LNG imports increased by 60 per cent last year to replace pipeline gas from Russia, Shell reported this week. Analysts expect Europe’s LNG requirements to nearly double by 2030, reaching 140 million tonnes compared to about 73 million tonnes in 2021.
New board in place, US utility turns to clean energy study
Both units at Cumberland went down for the entirety of the frigid conditions due to frozen implementation lines, he said. Many of the simple cycle and combined cycle gas plants were affected, but most of those were brought back online during the cold, Moul said. Even though TVA was able to put 1,000 megawatts back online after the initial outages, TVA decided to implement rolling blackouts on a second day to keep its power system stable.
TransAlta to buy interest in Alta. pumped hydro energy storage development for $8M
TransAlta Corp. says it will acquire a 50 per cent interest in an early-stage pumped hydro energy storage development project in southwest Alberta.
The Calgary company says Montem Resources Limited currently owns the Tent Mountain Renewable Energy Complex the two companies will jointly manage with TransAlta acting as project developer.
David Yager to chair Alberta premier’s advisory council on energy future, report in June
Alberta Premier Danielle Smith has appointed a five-member panel “to map out Alberta’s energy future.”
The premier has taken a critical view of the “energy transition,” and its impact on Canada’s energy industry, which is principally based in Alberta.
It will be chaired by David Yager, an executive and writer with more than four decades of experience and expertise in the energy industry. Yager’s opinion columns have been a regular feature of Pipeline Online since its inception.
Cenovus CEO change, impact of Keystone shutdown and 2022 year end results
n announcing its year-end financials, Cenovus also announced a change in leadership. Alex Pourbaix, who has held the president and CEO position since 2017, will become executive chairman, and Jon McKenzie, the company’s current executive vice-president a chief operating officer, will become president and chief executive officer. These changes will take effect at the conclusion of the company’s annual general meeting (AGM) scheduled for April 26, 2023. At the AGM, McKenzie will be nominated for election to the Board of Directors