OPEC Cautious On Oil Outlook Despite End Of Global Glut
OPEC was cautious on the outlook for the rest of 2018, citing a faster-than-expected rise in non-OPEC oil production and the chances of global demand weakening.
Canadian Drilling Firms Akita, Xtreme To Merge
The combined company will operate under the Akita name and have a fleet of 44 high-spec drilling rigs with operations in several major resource basins in the U.S. and Canada.
US Asks OPEC Producers To Pump More Oil, Sources Say
A spokeswoman at the White House's National Security Council is reported as saying: "We welcome any market-based action that increases energy access and fosters a healthy global economy."
Oil Prices Near One-Month Low On Report US Asked OPEC To Raise Supply
The U.S. government has asked Saudi Arabia and some other OPEC producers to increase oil production by about 1 million bbl/d, Bloomberg reported on June 5.
Questerre Settles Lawsuit; Consolidates Quebec Position
Questerre Energy reported on June 4 that it has executed a letter of intent with a senior E&P company to settle outstanding litigation and acquire all their assets in the St. Lawrence Lowlands, Quebec.
Canada Finance Minister Defends Trans Mountain Purchase
Canada’s decision to buy Kinder Morgan Canada Ltd.’s Trans Mountain pipeline was brought about by a “particularly problematic” situation and is not a symbol of how things get done in the country, the finance minister said on May 30.
Petronas Buys 25% Stake In LNG Canada Project
Petronas said it would buy an equity stake in LNG Canada, an export project led by Shell located in Kitimat, British Columbia, but didn't disclose a value for the acquisition.
Trans Mountain Expansion Saga Reaches ‘Bittersweet Outcome'
While the Canadian oil and gas industry lauded the federal government’s move to buy the Trans Mountain pipeline expansion, leaders remain “deeply concerned” about the toll the political battle has taken.
Crescent Point CEO Scott Saxberg Leaves Company
Crescent Point Energy said Scott Saxberg had left as CEO, as the company looks to turn around its business after staving off a shareholder proposal to make changes to its board.
Canada Gas Pipeline Build To Start In 2019, Pending LNG Plant FID
If the project goes ahead, it will be a game changer for Canada’s natural gas producers.