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Tag Archives: Cenovus Energy Inc.

Canada’s Alberta to introduce economy-wide carbon tax in 2017

CALGARY – The Canadian province of Alberta, home to the country’s controversial oil sands, said on Sunday it will implement an economy-wide tax on carbon emissions in 2017, addressing long-standing criticism it is not doing enough to combat climate change. The provincial government estimated the plan, including a pledge to phase out pollution from coal-fired electricity generation by 2030 and ...

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Hurting Canadian oil producers signal further cuts to come

CALGARY, Alberta – Canadian energy companies, especially those at higher cost oil sands producers, are signaling they will cut capital spending for a second straight year in 2016 as they adjust to a painful new reality of oil near $40 a barrel. Energy executives, coming off a bleak third-quarter earnings season and due to roll out capital budgets in coming ...

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Hundreds more oil sands staff evacuated on Alberta fire threat

CALGARY, Alberta – Statoil ASA, MEG Energy Corp and Cenovus Energy Inc evacuated hundreds of workers from three oil sands projects in northeastern Alberta on Tuesday as wildfires raged through the key crude-producing region. The latest evacuations are in addition to project shutdowns by Cenovus and Canadian Natural Resources Ltd over the weekend, as companies rushed to remove staff from ...

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Husky Energy expects spending to drop by a third in 2015

Dec 17 – Husky Energy Inc, Canada’s No. 3 integrated oil company, said it expects its capital spending to drop by a third in 2015 compared with 2014, becoming the latest Canadian producer to scale back spending as oil prices fall. Husky, controlled by Hong Kong billionaire Li Ka-shing, said it would spend about C$3.4 billion ($2.9 billion) in 2015, ...

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Canada’s surprise light oil boom delights oil sands producers seeking diluent

By Nia Williams CALGARY Alberta (Reuters) – Canada is enjoying an unexpected boom in production of ultra-light crude known as condensate, defying long-held predictions of dwindling supply. This surprising bounty from one corner of Alberta, better known as the home to Canada’s vast tar-like oil sands reserves, is a boon for firms like Vermilion Energy Inc and Chevron who have ...

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Keystone backers keep their faith in embattled pipeline plan


CALGARY/VANCOUVER April 21 (Reuters) – Six years after applying to build the Keystone XL pipeline, Canada’s frustrated oil industry appears steadfast in its support of the plan even though Washington has again delayed a decision on whether to approve the politically charged project. The reason is simple: A massive new pipeline to the U.S. Gulf Coast remains the most elegant ...

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