As the urban centre at the heart of Canada’s oilsands industry, Fort McMurray has seen more than its share of ups and downs. A decade and a half ago, the northern Alberta community was this country’s most famous boom town. High oil prices helped to drive unprecedented demand for the thick, viscous bitumen that lies … Read more
The Chairman of the House of Representatives Special Committee on Oil Theft, Alhassan Doguwa, announced that the House is set to introduce legislation aimed at bolstering the role of private security firms in safeguarding the nation’s oil and gas facilities. The proposed legislation will establish a comprehensive framework to regulate the activities of such security … Read more
Alberta oil production hit an all-time record in November, as oilsands companies ramped up output to prepare for the imminent completion of the Trans Mountain pipeline expansion. The Alberta Energy Regulator says crude oil production in the province rose by 8.8 per cent in November to a new historic high of 4.2 million barrels per … Read more
Suncor Energy Inc.’s share price jumped Wednesday as the company reported its fourth quarter oil output was its second-highest quarter ever. The Calgary-based company announced upstream production in the fourth quarter of 2023 of 808,000 barrels per day. With the strong fourth-quarter output, Suncor said it has met its corporate forecast provided in November 2022 … Read more
On a warm, blustery December afternoon outside the De Laurentis olive oil-producing co-op in the white hilltop town of Ostuni, Puglia, Luigi D’Amico holds out his palm, revealing an olive picked earlier in the day. Instead of resembling the plump, gleaming green and black fruit overflowing in bins around him, this one is half-consumed, dry … Read more
Petrol prices have reached their lowest levels in two years, as reported by the RAC. The notable drop in fuel costs comes as a respite for drivers who have contended with fluctuating prices and economic uncertainties. The RAC’s Fuel Watch report reveals that the average price of petrol has plummeted to levels last witnessed on … Read more
Canada’s upstream oil and gas industry and drilling services sector has a “very favourable” outlook for 2024, according to Enserva’s State of the Industry report released on Thursday. Key highlights of the report show that oil prices are expected to remain strong, demand will be robust, export capacity will increase, and investment and drilling activity are set … Read more
After negotiators worked through the night, a new deal has been reached at COP28 which could signal the world’s desire to move away from fossil fuels over the next few decades in an effort to address climate change. Representatives from nearly 200 countries gathered in a public meeting in Dubai to support the new deal, one day … Read more
Federal Energy Minister Jonathan Wilkinson says Alberta Premier Danielle Smith’s claim that Canada can achieve carbon neutrality in 2050 while simultaneously increasing oil and gas production is “incoherent.” Smith has long argued that carbon neutrality is about a transition away from emissions and not a transition away from oil and gas production, a source of … Read more
