Suncor capital plans for 2020 set at $5.4-$6 billion

Upstream production is expected to reach 800,000 to 840,000 barrels of oil equivalent per day, an increase of about five per cent

Suncor capital plans for 2020 set at $5.4-$6 billionCalgary-based Suncor Energy says its capital investment program to be $5.4 to $6 billion in 2020 with upstream production expected to be between 800,000 to 840,000 barrels of oil equivalent per day (boe/d), an increase of about five per cent production. “During 2019, we've demonstrated the value of our asset integration and flexibility through our…

Husky Energy cutting planned capital spending by $500 M

Capital spending in 2020 will be directed towards advancing the Lloyd thermal project and ongoing construction of a project in the Atlantic region

Husky Energy cutting planned capital spending by $500 MCalgary-based Husky Energy announced Monday it is reducing its capital program by half-a-billion dollars in 2022 and 2020. “We are continuing to focus on safe and reliable operations as we build on our improved 2019 performance and work towards our target of becoming a global top-quartile process safety performer by the end of 2022,” CEO…

Virtual reality tool will track changes in the oil, gas industry

Users can experience everything from watching a smart pig detect the health of a pipeline to seeing the largest trucks in the world at work

Virtual reality tool will track changes in the oil, gas industryA first-of-its-kind virtual reality tour of Canada’s oil and gas worksites will raise awareness about changes in the industry. The Experience the Energy: Take the Tour platform is an initiative by the PetroLMI Division of Energy Safety Canada. It showcases the careers, the innovation and technologies that are transforming the energy industry. “Over the past…

How to reform Alberta’s energy regulation

Less red tape and shorter decision timelines would improve Alberta’s investment environment and free up AER’s resources

How to reform Alberta’s energy regulationBy Steven Globerman and Jairo Yunis The Fraser Institute In September, Alberta Energy Minister Sonya Savage announced a formal government review of the Alberta Energy Regulator (AER) and replaced the AER’s board of directors with an interim panel. AER’s mandate is governing structure and operational practices in the industry. Since the announcement, several independent investigations…

Oil drilling industry pressures Ottawa

Industry blames ‘punitive’ federal policies and regulations for its struggles

Oil drilling industry pressures OttawaFollowing the federal election in October, the sentiment toward Canadian oil and gas is nearing all-time lows, says a report by the Canadian Association of Oilwell Drilling Contractors. The association says that since 2017 the industry has lost an estimated $30 billion in foreign capital, and companies continue layoffs and relocation efforts. It says its…

Government roadblocks cripple energy industry

Certainly there are factors beyond domestic control, but some simple regulatory changes and a general will to help industry will go a long way

Government roadblocks cripple energy industryAndrew Leach, an energy and environmental economist at the University of Alberta, recently observed that a number of things challenge the oil and gas industry in Canada, particularly the oil sands sector. And some of those challenges aren’t the fault of Canadian politicians or environmental activists. He noted that the Canadian Association of Petroleum Producers…

Keeping young, ambitious and talented people in Alberta

There’s already a strong engineering, finance and transportation capability in the province. We need to build on that in the new economy

Keeping young, ambitious and talented people in AlbertaA new study related to abandoned coal mining in the United Kingdom and the movement of displaced workers offers insight for Albertans. Not many of us read the online peer reviewed academic journal Nature Human Behaviour. That’s why occasionally perusing the back pages of The Economist makes sense. The Oct. 26, 2019, Economist reviews an…

Canada missing out on shale revolution

Shale-gas policy changes, followed by investments across the country, would turn Canada into an international leader in the transition towards clean energy

Canada missing out on shale revolution“It takes real skill to derail an industry where Canada has so many competitive advantages,” writes Rick Rule regarding energy markets. The chief executive of Sprott US Holdings, a natural-resource brokerage, says the barrier is politics, while Canadian firms, technology and geology are top tier. Fortunately, policy can change and Canada can lead clean-energy production.…

Canadian energy production on the decline

StatsCan said crude oil delivered by pipelines to Canadian refineries was up 9.1% to 8.6 million cubic metres

Canadian energy production on the declineEnergy production in Canada declined in several sectors in August compared with the same month in 2018, according to Statistics Canada. The federal agency reported on Monday that production of crude oil and equivalent products (-2.4 per cent), natural gas (-4.8 per cent) and coal (-5.2 per cent), as well as electricity generation (-3.6 per…

Canadian drilling forecast continues to cool

Capital, companies, equipment and crews are leaving Canada for better opportunities, with the U.S. an easy choice: PSAC

Canadian drilling forecast continues to coolThe Petroleum Services Association of Canada has decreased its forecast for the number of wells expected to be drilled across Canada for this year. In its third update to its 2019 Canadian Drilling Activity Forecast, PSAC revised its number from 5,300 (May 2019 revision) to 5,100 wells drilled. PSAC now projects 2,425 wells to be…
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