The Government of Saskatchewan has announced two new oil and gas processing projects, undertaken by Steel Reef, have been approved under the provincial Oil and Gas Processing Investment Incentive (OGPII). Introduced in 2019 as part of the Government’s Methane Action Plan, OGPII is available for companies making investments in infrastructure and value-added processing projects, including… Continue reading Oil and Gas Processing Projects for Saskatchewan
Tag: crude oil
October Oil And Gas Public Offering Raises $1.9 Million In Revenue
October 2021 Public Offering Generates More Than Double the Revenue Than the Same Time Last Year Saskatchewan’s October public offering of Crown petroleum and natural gas rights held on Tuesday, October 5, 2021, generated $1,876,806.59 in revenue for the province. The Estevan area brought in $1,357,527.30 for 50 parcels totalling 11,591.068 hectares. An exploration licence… Continue reading October Oil And Gas Public Offering Raises $1.9 Million In Revenue
Canada Prevents Line 5 Shutdown by Invoking 1977 Pipeline Treaty
Source: Mia Rabson The Canadian Press, October 4, 2021 Line 5 carries 540,000 barrels of light crude and natural gas liquids between Wisconsin, and Sarnia, Ont. Canada is formally invoking a 1977 pipeline treaty with the United States in a bid to prevent Michigan from turning off the taps to Enbridge‘s Line 5 pipeline. Foreign… Continue reading Canada Prevents Line 5 Shutdown by Invoking 1977 Pipeline Treaty
Canadian oil companies have begun revealing their profits
Source: Adam Macvicar, globalnews.ca, April 2, 2020 Profits may be slightly skewed as commodity prices were favorable in January and February before crashing in March. The oilpatch is accustomed to many ups and downs, but the situation they face now is uncharted for even the most battle-hardened veterans of the industry, since just about every… Continue reading Canadian oil companies have begun revealing their profits
Western Canadian Select plunges to $5 per barrel, leaving Alberta oilsands struggling
Source: Adam Macvicar, globalnews.ca, April 2, 2020 Due to record low prices, oil companies in Western Canada have had to cut capital expenditures and temporarily lay off employees in northern Alberta. Oil and gas producers in Alberta may very well be facing their toughest challenge to date, as the price of Western Canadian Select closed… Continue reading Western Canadian Select plunges to $5 per barrel, leaving Alberta oilsands struggling
Tube of Polysporin worth more than a barrel of oil
Source: Kyle Bakx, Tony Seskus, cbcnews.ca, March 27, 2020 Children’s toy, a litre of extra virgin olive oil or a tube of Polysporin are all things currently worth more than a barrel of oil. The cost of buying a barrel of Canadian oil fell to less than a Barrel of Monkeys on Thursday as the oil… Continue reading Tube of Polysporin worth more than a barrel of oil
Alberta spending $3.7B to move oil by rail, leasing cars
Source: The Canadian Press , February 19, 2019 EDMONTON — Alberta Premier Rachel Notley says the province is spending $3.7 billion to move landlocked oil to market by rail — and it isn’t counting on Ottawa to pitch in. “We must take action today to provide more relief to our energy workers and the families who… Continue reading Alberta spending $3.7B to move oil by rail, leasing cars
Alberta crude oil curtailments remain unchanged despite price recovery
Source: The Canadian Press, January 16, 2019 CALGARY — Alberta Energy Minister Marg McCuaig-Boyd says the province is leaving its oil curtailment levels at 325,000 barrels per day for now despite discounts for western Canadian crude that have narrowed to three-and-a-half-year lows. According to Net Energy Exchange, the difference between bitumen-blend Western Canadian Select and… Continue reading Alberta crude oil curtailments remain unchanged despite price recovery
Canadian Oilfield Workers Fighting Back
Wayne Whitney gives us his thoughts on the current state of the oil and gas industry… To my brothers and sisters of the oil field, from coast to coast in Canada. We are being put under the gun by a federal government that couldn’t care less about us. In our oil fields of Alberta, Saskatchewan and… Continue reading Canadian Oilfield Workers Fighting Back
Oilpatch braces for wave of layoffs as companies prepare for spending cuts
Source: Tony Seskus, CBC News, November 29, 2018 ‘We’re trying to not panic,’ oilfield services executive says Canada’s oilfield services sector — a bellwether for the state of the oilpatch — is beginning to see job losses as the impact of steep discounts on Alberta oil ripple through the sector. Trican Well Service, according to the Financial Post, laid off 70 of its… Continue reading Oilpatch braces for wave of layoffs as companies prepare for spending cuts