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Oil sands companies not benefiting from federal COVID relief

May 29, 2020

Representatives from Canada’s oilpatch say they don’t know of a single energy company that has yet benefited from any of Ottawa’s COVID-19-inspired loan programs. Several company owners and industry advocates are painting a grim picture of the state of the country’s energy

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New legislation would put deadlines on energy project approvals

May 28, 2020

Alberta is introducing legislation to allow the government to set maximum time limits on approvals for energy projects. Energy Minister Sonya Savage told Canadian Press that a review of the system has shown that at times it takes too long

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Coating repairs on pace for Line 5

May 28, 2020

Enbridge Inc on Wednesday said coating repairs were under way at its Line 5 oil pipeline in the Straits of Mackinac in Michigan, as exposed metal spots were found during seasonal maintenance that began in May. “Four locations will require

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Alberta has cut crude output by 1 million bpd

May 28, 2020

Alberta has cut oil output by a quarter or about 1 million barrels per day (bpd), Alberta’s energy minister, Sonya Savage, has informed OPEC. According to Reuters, the output cut by Alberta, home to the world’s third-largest oil reserves, represents

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B.C. receives over 1,100 applications for funding to restore dormant wells

May 27, 2020

More than 1,100 applications deluged a British Columbia program creating a funding plan to restore dormant and inactive oil and gas wells, within hours of the program’s launch. Energy Minister Bruce Ralston told Canadian Press that Monday’s requests equal up to $152 million in reclamation work

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Canadian producers ramp up output as crude prices rise

May 27, 2020

Western Canadian producers are moving to restore some oil production as crude prices rise with demand thanks to the gradual opening of the world economy and OPEC and Russian output cuts. But analysts say companies hit hard by low crude prices so far this

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Vermilion Energy President steps down

May 26, 2020

Vermilion Energy Inc. says Anthony Marino has stepped down as president and chief executive and as a director of the company, effective immediately. The company says instead of replacing Marino it has created an executive committee to run the firm that includes

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Gathering restrictions a great time to build pipelines: Savage

May 26, 2020

Alberta’s energy minister says it’s a good time to build a pipeline because public health restrictions limit protests against them. According to Canadian Press, Sonya Savage made the comment Friday in a podcast hosted by the Canadian Association of Oilwell

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Prepare for monster bad bank numbers this week: experts

May 25, 2020

Canada’s six-biggest banks are poised to set aside $8.9 billion for souring loans in the fiscal second quarter — a record amount that will wipe out more than half the industry’s profits. The total is the average estimate of five

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Former CCPIB exec sees investment value in Canada’s energy sector

May 22, 2020

Canadian energy still presents plenty of value to investors, notwithstanding being shunned by the world’s largest sovereign wealth fund, according to a former chief executive of the Canada Pension Plan Investment Board (CPPIB). “I think it is a question of: