Upheavals in the Canadian crude market are providing unique opportunities for firms with sizeable long-term leases on Alberta storage tanks, a cluster that sources say includes Mercuria Energy Group and oil major BP Plc's trading arm.
A Minnesota court ruled on Monday that Enbridge Inc.’s environmental impact statement for replacement of its Line 3 oil pipeline is inadequate, raising the possibility of further delays.
Oil and gas producer Canadian Natural Resources Ltd. said on Friday it would temporarily shut-in about 65,000 barrels per day (bbl/d) of crude oil production due to forest fires in Alberta.
Devon Energy agreed to sell its Canadian business to Canadian Natural Resources, knocking out a target in the Oklahoma City-based independent energy company’s planned transformation.
François Legault, premier of Canada's hydroelectricity-reliant Quebec province, on Sunday said he would present a sweeping plan to electrify public transport and heating and air conditioning by the end of 2019 or the start of 2020.
Canadian midstream company Gibson Energy is loading 60 unit trains per month at the Hardisty, Alberta, crude-by-rail terminal and that will go up to 90 trains per month by the end of the summer, CEO Steve Spaulding said on May 24.
A British Columbia court ruled on Friday that the provincial government cannot introduce a law that would regulate increased flows of heavy crude through the proposed Trans Mountain pipeline.
Canada's main crude-producing province Alberta introduced a bill to repeal the provincial carbon tax on Wednesday, setting up a legal tussle between Premier Jason Kenney's United Conservative Party and Justin Trudeau's Liberal government in Ottawa.
The increase is expected as operators improve completion designs and economics while battling low natural gas prices and infrastructure constraints.