U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region.
The government said the increase in production limits comes as warmer weather reduces the amount of diluent needed to help oil sands bitumen flow through pipelines, increasing capacity.
British oil firm EnQuest's shares slumped to a three-year low after Cairn Energy, its partner in its flagship Kraken project, cut its estimate of the oil field's reserves by around a fifth.
Few reasons given for how the blackout occurred and how long it will last.
MEG Energy, whose key operations are in Canada's Athabasca oil sands region, said bitumen production fell in the fourth quarter from a year earlier.
Crescent Point Energy's strategy to sell assets to reduce debt and use a part of the money to finance its expansion in oil and gas production is yet to pay off.
Canadian Natural Resources posted a loss in the fourth quarter when analysts were expecting a profit, as average realized prices of crude oil and NGL were more than halved.
Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba field offshore in the Campos Basin from Petrobras and Chevron.
The province is now raising the limit because the amount of oil in storage is shrinking and prices are stronger, Alberta premier Rachel Notley said in a statement.
Canadian oil and gas producer Husky Energy expects 2019 production could be lower than it had previously expected because of mandatory output cuts imposed by the government of Alberta.