Canada | Egypt Oil & Gas - Part 6
Canadian Govt Report Warns Its Not Prepared for Arctic Oil Spill
An internal report warns the federal government isn’t fully prepared to respond in the event of an oil spill in the Arctic or in deep water offshore. The document “An Emergency Response Biomonitoring Plan for Accident...
Low Oil Prices Having Negative Impact on Canada
Canada’s oil industry has had a rough couple of months, with production and exports taking a hit. Low oil prices are cutting into the profits of major producers. Production from Alberta’s oil sands is costly and requi...
Canada’s Crude Oil Output to Grow at Slower Pace Than Previously Forecasted
Canada’s crude oil output will continue to grow over the long term but at a slower pace than previously projected, reflecting many project postponements resulting from the slump in oil prices, the country’s main energ... Despite Huge Find, Decreasing Prices Means No Drilling in Canada
The news was bittersweet for Canada’s Northwest Territories. While the region found out last week that its Canol and Bluefish formations hold Canada’s largest shale oil reserves, the slump in prices means no one’s dri...
Oil Sands Production Under Threat from Forest Fire
Cenovus Energy Inc has evacuated about 1,800 workers and shut down production at its Foster Creek oil sands site in Alberta as a precaution because of a nearby forest fire, the company said. There was still no direct ... Canada Pledges New Regulations on Oil, Gas Emissions
Canada has pledged to cut greenhouse-gas emissions by about a third by 2030, partly by introducing new regulations on its oil and gas sector. Environment Minister Leona Aglukkaq announced the new pledge Friday in Winn...
Job Cuts, Profit Losses Hit Oil Sands Industry in Canada
Suncor Energy Inc., Canada’s largest oil company, reported a first-quarter loss after crude prices plunged to the lowest since 2009. The oil-sands producer lost C$341 million ($283 million), or 24 cents a share, compa...
Canadian Banks Liable to US Shale Producers After Plunging Oil Prices
Canada’s biggest banks are on the hook for at least $478 million of the $26 billion owed to U.S. oil and gas firms that bought protection against plunging crude prices. Bank of Montreal, Canadian Imperial Bank of Comm...
