Home / Tag Archives: Cenovus Energy Inc.

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 ...

Read More »

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 ...

Read More »

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 ...

Read More »

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, ...

Read More »

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 ...

Read More »

Keystone backers keep their faith in embattled pipeline plan

pipes

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 ...

Read More »