News of delays to the Pacific NorthWest LNG Project have some Canadians concerned about Competitiveness Malaysian oil giant Petronas announced earlier this week that it will delay its decision about proceeding with its Pacific NorthWest LNG terminal, saying that estimated construction costs were too high, especially as the company has to find even stronger justification for new projects as oil
Enbridge Inc. (ticker: ENB), the operator of the world’s longest crude oil transportation system, today announced a 33% increase to its next quarterly common share dividend, as well as a Canadian restructuring plan and corresponding new dividend payout policy range. These actions are intended to enhance the value to investors of the company’s organic growth capital program and enhance the
Increases 2015 Production Guidance Bellatrix Exploration Ltd. (ticker: BXE) announced this morning that it has completed the acquisition of assets within its core Alder Flats area of west central Alberta (greater Ferrier region) from an unidentified oil and gas producer for approximately $118 million. According to the company, the acquisition will add approximately 2,200 BOEPD of currently unrestricted production (approximately
In the last three weeks, Oil and Gas 360® has reviewed a dozen Canadian E&Ps, looking at operations, financial performance and comments from top management during recent conference calls and management discussions. The four Canadian E&Ps covered this week range in market cap from $5 billion to $46.6 billion. Canadian Natural Resources Ltd. (ticker: CNQ) Comparative Financial and Operational Metrics
The Environmental Assessment Office of British Columbia approved three separate liquefied natural gas (LNG) projects on November 25, 2014, two of which are located at Prince Rupert Island. The island, roughly 750 kilometers (465 miles) north of Vancouver, is proposed to be a major LNG export plant with an expansive customer base in Asia. Malaysia-based Petronas, along with large energy
Multiple tax reductions target LNG investment Exxon Mobil (ticker: XOM) announced last week that it will join an alliance of companies that is promoting the development of a liquefied natural gas industry in northern British Columbia, reported CBC News. The British Columbia LNG Alliance said last Wednesday that ExxonMobil Canada Ltd., a subsidiary of the U.S.-based ExxonMobil, has become the
Fraser Institute’s annual Global Petroleum Survey of energy executives ranks Canada oil and gas provinces among the best in the world for investment. The survey ranks 156 jurisdictions worldwide on their attractiveness for investment based on the input of oil and gas industry executives and the oil and gas reserves of each jurisdiction. Canada’s Most Attractive Province: Alberta On the strength
Over the past two weeks, Oil & Gas 360® has reviewed eight of Canada’s E&Ps, looking at operations, financial performance and management comments during recent conference calls. The Canadian E&Ps we will review range in market cap from $44 billion to $109 million. Today, OAG360® looks at four more companies focused on developing Canada’s crude oil and natural gas resources.
Based on the Energy Information Agency’s database, imports of all grades of oil from Canada have climbed by 27% in the last five years. Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be
White House Statements “Factually Incorrect” UPDATE: Senate bill fails to pass by one vote, 59-41 TransCanada Corp.’s (ticker: TRP) president and CEO Russ Girling today provided a comment in advance of the debate and vote on U.S. Senate bill 2280: “I was very pleased to see another vote in the House of Representatives in favor of Keystone XL, a vote that
Last week, Canada’s Harper government released its fall fiscal update, which predicted a $1.9 billion government surplus in 2015-16 and real GDP growth of 2.6% for 2015. These promising forecasts come in spite of falling oil prices that have created economic uncertainty around the oil patch, but with the country showing strong signs of continued growth, Oil and Gas 360® continues
While TransCanada’s $8 billion project hangs in the balance, Canadian oil is already moving south The landslide Republican victory in this month’s midterm elections will prompt changes in the business of politics and in the U.S. economy, but will they include the Keystone XL pipeline? The House of Representatives approved the Keystone pipeline earlier today by a count of 252-161, with
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