NEWS: Canadian Natural reports $2.2B Q3 profit, raises quarterly dividend
CALGARY — Canadian Natural Resources Ltd. raised its quarterly dividend by 25 per cent as it reported a third-quarter profit of $2.2 billion. The company says it will now pay a quarterly dividend of 58.75 cents per share. Canadian Natural's profit...
NEWS: Tourmaline reports $361 million third-quarter profit, record quarterly cash flow
CALGARY — Tourmaline Oil Corp. reported record cash flow and net earnings of $361.1 million in the third quarter of 2021. The Calgary-based company says it earned $1.10 per diluted share in the quarter, compared with $4.8 million or two cents per...
‘All of this is noxious and anti-energy,’ Saskatchewan energy minister responds to Trudeau capping oil and gas sector emissions
During the opening day the United Nations Climate Change Conference UK 2021 in Glasgow, Scotland, Prime Minister Justin Trudeau promised to “cap oil and gas sector emissions today, and ensure they decrease tomorrow, at a pace and scale needed to reach net zero by...
NEWS: Alberta, with largest oil industry, sends fewer to COP than any other energy province
EDMONTON — The province with Canada's largest oil and gas industry has sent one of the country's smallest delegations to the international climate conference, where emissions from that industry are under scrutiny. A preliminary list of the...
Cenovus pays debt, increasing dividends and share buybacks in Q3 earnings announcement
CALGARY – By lowering its debt, and with strong free funds coming in, Cenovus Energy Inc. is continuing the trend of large Canadian oil producers in increasing dividends and share buybacks. On Nov. 3 the company, Saskatchewan’s largest oil producer after its...
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NEWS: Democratic chair issues subpoenas to oil executives
WASHINGTON (AP) — The chairwoman of the House Oversight Committee issued subpoenas Tuesday to top executives of ExxonMobil, Chevron and other oil giants, charging that the companies have not turned over documents needed by the committee to investigate allegations that...
Two Steel Reef projects at North Portal qualify for processing incentive, will reduce venting and flaring of methane gas
On Nov. 2, the Government of Saskatchewan announced that two new oil and gas processing projects, undertaken by Steel Reef Infrastructure Corp., have been approved under the provincial Oil and Gas Processing Investment Incentive (OGPII). That incentive was introduced...
NEWS: US says oil, gas sales damage climate – but won’t stop them
BILLINGS, Mont. (AP) — The Biden administration is planning to sell oil and gas leases on huge tracts of public land in the U.S. West, despite the Interior Department's conclusion that doing so could cost society billions of dollars in climate change impacts....
NEWS: Calfrac Well Services reports Q3 loss, revenue more than doubles from year ago
CALGARY — Calfrac Well Services Ltd. reported a loss in its latest quarter as its revenue more than doubled compared with a year ago. The oilfield services company says it lost $1.5 million or four cents per diluted share for the quarter ended...
Verbatim press release from PMO announcing “enhanced and ambitious climate action to cut pollution at the COP26 summit”
Editor’s note: Sometimes it’s interesting to see exactly what sort of messaging politicians are trying to get across. This is the verbatim press release from the Prime Minister’s Office on Nov. 1, when he gave a speech in Glasgow, Scotland, at the United Nations Climate Change Conference UK 2021. In his address he said , “we’ll cap oil and gas sector emissions today, and ensure they decrease tomorrow, at a pace and scale needed to reach net zero by 2050. That’s no small task for a major oil and gas producing country. It’s a big step, that’s absolutely necessary.”
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Justin Trudeau at G20 spoke about reducing fossil fuels and selling only zero emission vehicles
ROME – Prior to attending the United Nations Climate Change Conference UK 2021 in Glasgow, Scotland, Prime Minister Justin Trudeau attended the G20 summit in Rome on Oct. 30-31. While there, he was asked by a reporter about the pressure to bring down the price...
NEWS: Alberta government, Opposition say the province should be consulted on emissions caps
EDMONTON — Alberta politicians are warning the federal Liberal government that caps on greenhouse gas emissions from oil and gas will have to be set in consultation with the province. Both Premier Jason Kenney and New Democrat Opposition Leader...
NEWS: Oilpatch leaders fear “reckless” move as Trudeau commits to emissions cap on sector
CALGARY — The chief executive of a Calgary-based energy company says a federally imposed cap on emissions from the oil and gas sector is reckless and dangerous. At the UN climate conference in Scotland on Monday, Prime Minister Justin Trudeau...
Trudeau addresses COP26, pledges to cap oil and gas emissions, goal for zero emissions vehicles by 2035
GLASGOW – On Nov. 1, Canadian Prime Minister Justin Trudeau addressed the United Nations Climate Change Conference UK 2021 in Glasgow, Scotland. In his five-minute speech, he promised to cap oil and gas emissions today, and then bring them down to net zero by...
As Trudeau speaks to COP26, the Clean Fuel Standard has long been a concern for Sask. energy minister
SASKATOON – With the UN Climate Change Conference UK 2021 (COP26) on this week, one of the items that will likely come up as part of Canada’s commitments is the “Clean Fuel Standard.” This Clean Fuel Standard has been a particular concern to Saskatchewan Energy and...
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NEWS: Leaders dial up doomsday warning to kick-start climate talks
GLASGOW, Scotland (AP) — World leaders turned up the heat and resorted to end-of-the-world rhetoric on Monday in an attempt to revive sputtering international climate negotiations. The metaphors were dramatic and mixed at the start of the talks, known as COP26. For...
NEWS: As UN climate conference begins, Alberta has much on the line
CALGARY — As world leaders descend on Glasgow this week for the start of the 2021 UN Climate Conference, Alberta — the Canadian jurisdiction with perhaps the most on the line — will be watching. COP26, as it is known, will be the most significant...
NEWS: US to look at climate emissions from oil and gas lease sales
BILLINGS, Mont. (AP) — The Biden administration said Friday that industry regulators for the first time will begin analyzing greenhouse gas emissions from federal oil and gas leases on a national scale, as they prepare to hold lease sales in numerous western sates...
NEWS: B.C. First Nation says it will protect land after arrests involving Coastal GasLink
HOUSTON, B.C. — RCMP say officers will be patrolling a forestry road in an area where two people were arrested among a group blockading a Coastal GasLink workers' camp near Houston, B.C. Cpl. Madonna Saunderson says in a release that police...
NEWS: Profitable Exxon, Chevron emerge as global economy rebounds
Oil companies were under pressure during the pandemic to curtail drilling after demand plummeted because so many people were staying home. Prices fell and exploration and production budgets were slashed. That resulted in less oil and gas on the market and in storage, which in turn raised prices. But things have started to turn around as people get vaccinated and return to offices and begin to travel.
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NEWS: Imperial Oil reports $908M Q3 profit compared with $3M a year ago
CALGARY — Imperial Oil Ltd. earned a third-quarter profit of $908 million as it reported its highest production for the quarter in more than 30 years and benefited from higher oil prices. The company says the profit amounted to $1.29 per diluted...
Brian Crossman: The Franklin Supply Deer-B-Que
Every fall, there used to be a wonderful event, right around deer hunting season. It was known as the Deer-B-Que. With the fall weather, the leaves turning and the inevitable end of the year, I start to think about the way things used to be. (Yeah, and I’m...
NEWS: Brookfield Infrastructure completes acquisition of Inter Pipeline; IPL to be delisted
CALGARY — Brookfield Infrastructure Partners L.P. says it has completed the acquisition of Inter Pipeline Ltd. The transaction was approved near unanimously by Inter Pipeline shareholders and received final approval from an Alberta court....
NEWS: Alberta tables bill to help municipalities recoup unpaid oil and gas property taxes
EDMONTON — The Alberta government has introduced legislation that it says would help municipalities recoup some of the millions of dollars in unpaid property taxes they're owed by energy companies. "It's a legal resource where the (municipalities)...
Crescent Point’s Q3 earnings call focuses on Kaybob Duvernay, little mention of Saskatchewan
CALGARY – Much of the discussion in Crescent Point Energy Corp.’s third quarter earnings call on Oct. 28 was about the company’s April 1, 2021 Kaybob Duvernay acquisition in Alberta from Shell for $647.1 million cash and 50 million shares, and its subsequent...