Viking Supply Ships to close its Canadian office
Viking Supply Ships is to close its office in Newfoundland as the global decline in oil price continues.
Canada
Sub $50: Canadians should use Canadian oil not imports says oil boss
The collapse in capital investment in the Canadian oil industry should press Prime Minister Justin Trudeau’s government to push the button on new oil pipelines and liquefied natural gas developments for an industry struggling with the commodity price slump, said Tim McMillan, CAPP’s chief executive.
Canada sees oil and gas spending plummet
Capital spending in Canada’s oil and natural gas sector is forecast to decline $50 billion, or 62 per cent, since 2014, the largest two-year decline since the Canadian Association of Petroleum Producers (CAPP) and its predecessor organizations started tracking this data in 1947, according to new data compiled by CAPP.
Chevron sells Alberta gas share
Chevron Canada Properties has sold off one of its Alberta subsidiaries to Amphora Canada Gas Storage for an undisclosed amount.
TransCanada worker who fell to death identified
A worker who fell 20metres to his death at a TransCanada work site in northern Alberta has been identified.
Xcite Energy no longer reporting issuer in Canada
Xcite Energy said the Alberta Securities Commission and other regions, including British Columbia and Ontario, have confirmed the company is no longer a reporting issuer in any jurisdiction in Canada.
Terra jettisons staff as bank calls in $15.9million loan
Canadian oil exploration company Terra Energy has terminated the employment of most of its staff after been ordered by its lender Canadian Western Bank to repay in full it outstanding debt of $15.9million plus interest, by March 28.
Repsol to reduce Calgary headcount by up to 15%
Repsol said it plans to reduce its headcount from its Calgary workforce by up to 15% as its looks to streamline costs.
San Leon secures funding for Mart acquisition
San Leon Energy has secured the funds from investors to complete the acquisition of Canadian-firm Mart Resources.
Scotiabank sets aside further funds for oil and gas bad loans
The Bank of Nova Scotia said it has set aside further funds to help cover bad loans in the oil and gas sector.
Husky Energy starts steam operations from Canadian oil terminal
Husky Energy said it has commenced steam operations at the Edam East heavy oil terminal in Saskatchewan.
Husky improves quarterly results
Canada's Husky Energy posted a smaller quarterly loss from a year ago, when it had incurred an impairment charge.
Canada set to increase oil production despite glut
Canadian oil production to continue increasing through 2017 despite lower crude oil prices.
Encana reports $612million net loss and cuts headcount
Canada's Encana reported a net loss of $612million - its fourth straight quarterly loss - as it said it would cut jobs by 20%, reduce its annual spending forecast and lowered shareholders' dividend as it absorbed the impact of plummeting oil and gas prices.
Enbridge boosts profits on crude volume increase
Enbridge has reported a fourfold rise in its quarterly profit boosted by an increase in crude volumes.
Cenovus to sell up to $5billion of stock, debt or other securities
Canadian oil producer Cenovus Energy said it may sell up to $5billion of stock, debt or other securities.
Imperial Oil’s profit sinks in line with oil price
Canada's Imperial Oil said profit in the fourth quarter sank as oil remained near 12-year lows amid rising production.
Touchstone ends Canada interest to focus on Trinidad
Touchstone Exploration has revealed it has agreed a deal to dispose of its Kerrobert, Saskatchewan facility as it focuses on its Trinidad operations.
One person killed, second injured after explosion at oil sands facility
Nexen Energy said one person has been killed while another worker has bee hospitalised after an incident at the Long Lake oil sands facility in Alberta.
Suncor Energy agrees Canadian Oil Sands takeover
Suncor Energy has agreed to buy Canadian Oil Sands in $2.9billion deal after winning approval from a management team that had previously rejected the bid.
Canadian businessman promises $1m for energy firms if politician resigns
A Canadian businessman said he would invest $1million in the country’s energy companies if Alberta Premier Rachel Notley resigns from her post. Kevin O’Leary made the claim to a Toronto radio station and encouraged other Canadians who are financially able to make a similar gesture.
Canadian stocks fall in longest slump since 2002 as oil slides
Energy’s drag on Canadian stocks showed no signs of abating as the nation’s benchmark equity gauge slumped a ninth straight day, the longest losing streak since 2002. Canadian equities have lost 7.2 percent during this period with the Standard & Poor’s/TSX Composite Index failing to post a positive trading day in 2016. Crude futures in New York approached a 12-year low, falling as much as 2.8 percent in New York to $32.24 a barrel.
Suncor Energy extends offer for Canadian Oil Sands
Suncor Energy said it has extended an offer for Canadian Oil Sands until the end of January.
Talisman and Repsol announce Canadian business name changes
The legal name of Canadian oil and gas producer Talisman Energy has been changed to Repsol Oil & Gas Canada Inc.
Canadian Oil Sands urges shareholders to reject Suncor bid
Canadian Oil Sands Ltd.’s board sent a letter to its shareholders Tuesday urging them once again to reject the hostile bid by Suncor Energy Inc. ahead of the offer’s deadline next week. The Calgary-based Canadian Oil Sands said the C$4.5 billion ($3.2 billion) offer was an “undervalued and opportunistic bid.” Suncor has offered 0.25 of its own shares to Canadian Oil Sands’ investors in a tender offer that expires on January 8.