RSSCategory: Energy

Oil pipeline to the Arctic Ocean: NWT premier launching study

January 29, 2015 | By | Reply More
Oil pipeline to the Arctic Ocean: NWT premier launching study

Oil pipeline to the Arctic would free up stranded resources The premier of the Northwest Territories says it’s time to start laying the groundwork for a potential oil pipeline to the Arctic Ocean, notwithstanding currently depressed global energy prices. Bob McLeod announced to an Ottawa reception Thursday evening that he’s launching a year-long feasibility study […]

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US Senate Keystone vote: Passes, but not enough to overcome presidential veto

January 29, 2015 | By | Reply More
US Senate Keystone vote: Passes, but not enough to overcome presidential veto

Keystone vote passes with a vote of 62-36 Long-suffering supporters of the Keystone XL pipeline won a moral victory in the U.S. Congress on Thursday _ but that’s about all they won. A bill to build the oil pipeline from Canada was approved by the Senate for the first time in the almost seven-year struggle […]

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Canadian Oil Sands slashes quarterly dividend

January 29, 2015 | By | Reply More
Canadian Oil Sands slashes quarterly dividend

Canadian Oil Sands dividend drops to $.05 from$.35 Canadian Oil Sands Ltd. (TSX:COS), the biggest partner in the Syncrude Canada Ltd. oilsands project, is slashing its quarterly dividend to five cents a share from 35 as the outlook for crude prices deteriorates. In December, Canadian Oil Sands signalled it would be cutting its quarterly payout […]

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Sask First Nations see turbines, battery storage as solution for remote communities

January 28, 2015 | By | Reply More
Sask First Nations see turbines, battery storage as solution for remote communities

$5.5M Battery storage program playing role in clean energy grid of the future By David Dodge and Duncan Kinney A California-based utility recently put a 100-megawatt peaker plant up for bid. This is the type of plant that can ramp electricity production up quickly to meet demand — almost always using natural gas. This time, […]

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Cenovus braces for low oil prices, takes $700M out of 2015 budget

January 28, 2015 | By | Reply More
Cenovus braces for low oil prices, takes $700M out of 2015 budget

Cenovus conventional drilling, longer-term oilsands projects see most cuts Oilsands giant Cenovus Energy Inc. (TSX:CVE) is bracing for a prolonged stretch of low oil prices, announcing Wednesday it’s taking $700 million out of its 2015 budget, released just a month and a half ago. The Calgary-based company said its budget for this year now sits […]

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BP Gulf of Mexico spill: BP official says uncertain if BP entities would help pay penalty

January 27, 2015 | By | Reply More
BP Gulf of Mexico spill: BP official says uncertain if BP entities would help pay penalty

11 killed, oil spewed for 87 days in BP Gulf of Mexico spill An executive for the BP subsidiary that faces billions of dollars in possible fines for the 2010 BP Gulf of Mexico spill testified Tuesday that it is uncertain whether other BP entities would step in to help pay a steep penalty. The day’s […]

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PSAC drilling forecast downgraded almost 25 per cent

January 27, 2015 | By | Reply More
PSAC drilling forecast downgraded almost 25 per cent

PSAC drilling forecast revised from October estimates The Petroleum Services Association of Canada has downgraded its drilling forecast for the year by almost 25 per cent due to slumping oil prices. The association has revised the forecast it released in October and now expects 7,650 wells to be drilled in 2015. Nearly 4,200 wells are […]

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Made in Canada solutions for changing oil industry

January 26, 2015 | By | Reply More
Made in Canada solutions for changing oil industry

Oil industry expert says oil could hit $200 in 4-5 years This week at the World Economic Summit, ENI’s chief executive Claudio Descalzi, warned that oil could hit $200 in 4-5 years if low prices continue to limit investment. His reasoning is simple: existing oil production will slow and without a price increase new supply […]

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Oil price collapse drains ISIL, Iraq war chests, conference told

January 22, 2015 | By | Reply More
Oil price collapse drains ISIL, Iraq war chests, conference told

Oil price collapse, airstrikes targeting refineries help fight against ISIL The shocking decline in oil prices is not only hitting federal and provincial treasuries in Canada and elsewhere, it’s also sapping the war chests of both the Islamic State of Iraq and the Levant and the Iraqi government. Defence Minister Rob Nicholson says the impact […]

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Premier Prentice gloomy about quick rebound in oil prices

January 22, 2015 | By | Reply More
Premier Prentice gloomy about quick rebound in oil prices

Dropping flat tax system one possible way to combat low revenues from plummeting oil prices Alberta Premier Jim Prentice says there’s no chance that the province can “ride things out” while waiting for a rebound in oil prices. Prentice says a full discussion must be held with Albertans to find a way to deal with a decline […]

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