Environmental groups protest proposals to build LNG terminals on Canada’s East Coast
A coalition of environmental groups is calling on Ottawa to reject any proposals to build export facilities for liquefied natural gas on Canada’s East Coast, saying such projects will produce “climate-wrecking emissions.”
The coalition, which includes the Sierra Club Canada Foundation and Climate Action Network Canada, issued a statement Thursday that also takes aim at the financial risks associated with multibillion-dollar ventures that could take several years to come on stream.
Suncor must stop diagnosing and start executing workplace safety changes: Interim CEO
CALGARY — The new interim CEO of Suncor Energy Inc. says the oil and gas giant is ready to stop studying its workplace safety problem and start implementing solutions instead. Kris Smith, who took the helm of the Canadian oil and gas producer in...
Suncor’s Q2 net profit increases more than fourfold year-over-year
Suncor Inc. says it earned $3.99 billion in the second quarter of 2022, or $2.84 per common share, more than four and a half times the $868 million it earned in the same period of 2021.
The Calgary-based oil producer and refiner, which reported after markets closed Thursday, says its adjusted funds from operations hit $5.35 billion in the quarter, the highest in the company’s history by 33 per cent.
Pembina Pipeline’s profits rise on higher crude, natural gas prices
Pembina Pipeline Corp. says it earned $418 million in the second quarter, reflecting higher natural gas liquids (NGL) and crude oil prices and margins, as well as rising volumes on its key pipeline systems.
Jim Warren: Brad Wall’s legacy will survive attacks from Leader-Post columnist
If there was any doubt about the editorial position of the Regina Leader-Post with respect to Western-based opposition to the federal government, it was laid to rest last month. The July 6 column by the paper’s political columnist, Murray Mandryk, attempted to take former premier, Brad Wall, to the woodshed for doing what most of us would expect from a friend and good neighbor. Wall committed the sin of providing sage advice to someone he knows from his home town who dared to participate in the truckers’ convoy.
Mandryk claimed Wall had tarnished his legacy by encouraging the truckers’ convoy organizer, Chris Barber, to avoid the assorted loonies who are frequently attracted to exciting public events.
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Brian Zinchuk on John Gormley Live: Poilievre, coal, rig count, lithium, helium, oil prices, Ukrainian refugees, hiring and the Lloydminster Heavy Oil Show. Whew!
Pipeline Online editor and owner Brian Zinchuk appeared on CJME/CKOM’s John Gormley Live on Thursday, Aug. 4. There were a large number of topics touched upon.
Poilievre skips Conservative leadership debate, shows up in Weyburn, Estevan, Regina and Moosomin instead
Frontrunner Conservative leadership candidate Pierre Poilievre skipped a national leadership debate to make his second visit to southeast Saskatchewan in two months on Aug. 3, making stops in Weyburn, Estevan and Moosomin as well as Regina that day.
After a meet and greet in Weyburn, he came out to Jason and Sherrill LeBlanc’s farm, west of Estevan, for another meet and greet with supporters. There, a backdrop of representative equipment from local businesses and the farm was lined up. There was a picker truck, a semi of bales, a dump truck of coal, a cement truck, a tractor and combine, each meant to show a different part of the local economy – oil, ranching, coal mining and power, industry and farming.
Grounded Lithium just drilled its first targeted lithium well in Saskatchewan, only the second of its type in this province
On Aug. 2, a new lithium exploration company, Grounded Lithium Corp., was wrapping up its first targeted lithium well. It’s the first in what the company is calling their Kindersley Lithium Project (KLP).
That makes Grounded just the second company in Saskatchewan to specifically drill for lithium, as opposed to oil, gas, potash or helium. A little under a year ago, Prairie Lithium was the first, having drilled its initial exploration well near Torquay.
Brian Jean says Churchill is a pipedream due to muskeg and permafrost
While the Port of Churchill is seen by some as a possible salvation for exports, especially oil, from the otherwise landlocked prairie provinces, at least one prominent politician is saying it’s not going to work,
Feds, province pump more money into rail line to Churchill, Man.
OmniTrax had proposed shipping oil through Churchill but backed down after facing opposition, largely over fears that the tracks on the uneven terrain could lead to a spill.
Some have floated the idea of shipping liquefied natural gas through Churchill. More recently, Conservative party leadership candidate Pierre Poilievre promised to move oil through Churchill in the form of bitumen pucks, which are designed to be less volatile than standard oil and which can float in water.
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Saskatchewan drilling rig report for Aug 2
Drilling rig activity in Saskatchewan is seeing consistent activity in all regions of the province, as well as three companies drilling for helium and one for lithium. That’s according to Canadian Association of Energy Contractors data, published by RiggerTalk.com. In...
So long, war premium on oil prices
There’s still a war on in Europe, with no end in sight, but it appears the geopolitical risk premium has disappeared from world oil markets.
Quick Dick McDick: Small town Saskatchewan
Quick Dick McDick takes a brief break from criticizing the government to take part in some small town Saskatchewan fun. We’re talking a car show and slow pitch tournament, followed by the obligatory visit to the ER. (My wife’s an ER nurse, so she gets to patch people up like this all the time.) “Happy Saskatchewan Day, one day late,” he said.
Valvoline to sell its global products arm to Saudi’s Aramco
Saudi Aramco announced a $2.65 billion agreement on Monday to acquire Valvoline’s global products business, which includes motor oils, transmission fluids, coolants and other automotive maintenance products.
Weekend watch: Bechtel video of the history of the early days of the oil sands
This video popped up on my YouTube feed, and it is definitely worth the 40 minutes or so to watch. It’s about the earliest history of the oil sands, and concludes with the opening of the first major oil sands plant by Sun Oil Company Ltd., which is now Suncor, Canada’s largest oil producer. It was known as the Great Canadian Oil Sands Project, at Tar Island, north of Fort McMurray.
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Cenovus posts massive upswing in profit as second-quarter net earnings reach $2.4B
Cenovus Energy Inc. recorded a massive upswing in profit in its latest quarter amid increased commodity prices and higher margins.
TC Energy second-quarter profit down as it reaches milestone with Coastal GasLink LP
TC Energy Corp. posted a lower quarterly profit as its Coastal GasLink project reaches a “significant milestone.”
The Calgary-based energy producer says its net income attributable to shareholders was $889 million or 90 cents per diluted share in the second quarter, down from $975 million or $1 per share a year earlier.
Cost of Coastal GasLink pipeline leaps 70% to $11.2B as TC Energy settles dispute
The projected cost of the contentious Coastal GasLink pipeline spanning northern British Columbia has jumped 70 per cent to $11.2 billion in the wake of a freshly inked deal between operator TC Energy Corp. and the group building a liquified natural gas terminal on the West Coast.
Precision Drilling reports $25M net loss in Q2, revenue up 62%
Precision Drilling Corp. says it had a net loss of $24.6 million for the second quarter, down from a net loss of $75.9 million in the same quarter last year.
The net loss for the quarter ending June 30 worked out to $1.81 per share, compared with $5.71 per share for the same quarter last year.
MEG Energy posts $225-million profit, completes turnaround at Christina Lake facility
MEG Energy Inc. reported a $225-million profit in its latest quarter as it completed on time and on budget the planned turnaround at its Christina Lake Phase 2B facility.
The Calgary-based oilsands developer says it earned 72 cents per diluted share in the second quarter, compared with 22 cents per share or $68 million a year earlier.
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Calfrac reports higher revenue, lower net loss in second quarter amid higher pricing
Calfrac Well Services Ltd. reported a lower loss in its most recent quarter as its revenues climbed amid improved pricing and increased activity.
The oilfield services company says it lost $6.78 million or 18 cents per share in its second quarter, compared with a loss of $35.52 million or 95 cents a share in the same period last year.
Enbridge snaps up stake in West Coast LNG plant as demand surges
By Christopher Reynolds Enbridge Inc. has extended its push into liquefied natural gas as global demand soars, scooping up a stake in a proposed LNG project on the West Coast — even as the projected cost of the venture more than tripled. On Friday, the Calgary-based...
Enbridge net profit falls as revenues surge in second quarter to $13.22 billion
Enbridge Inc. says its earnings attributable to common shareholders dropped in its most recent quarter despite higher revenue.
The Calgary-based energy company says it earned $450 million or 22 cents per share in its second quarter, compared with $1.39 billion or 69 cents per share a year earlier.
Adjusted profits were $1.35 billion or 67 cents per share, compared with $1.36 billion or 67 cents per share in the same period of 2021.
Late night theft of copper wire from Estevan Meter; reward offered
Estevan Meter had a recent theft from their facility on the east side of Estevan.
According to surveillance footage, around 2 a.m. on July 15 a vehicle entered Estevan Meter’s parking lot and pulled up to their compound, where they then cut through the fence to access and steal a large quantity of copper wire.
Imperial Oil second quarter profit soars amid higher production and energy prices
Imperial Oil Ltd. CEO Brad Corson said Friday the federal government’s strategy to reduce emissions and reach net-zero amounts to overreach from Ottawa.
“It is very aggressive and stretches the capability of what is technically and economically feasible,” Corson said on a conference call with analysts.
Earlier this month, Ottawa released a statement outlining ways it could potentially design the oil and gas emissions cap, which is part of its 2030 emissions reduction plan, and launched consultations on the matter.