Too many oil and gas opportunities left on the table

Tim McMillan of the Canadian Association of Petroleum Producers talks about the need to attract investment, spur innovation and grow jobs

Too many oil and gas opportunities left on the tableTim McMillan is president and CEO of the Canadian Association of Petroleum Producers. Calgary’s Business: How would you describe the state of the oil and gas industry right now? McMillan: We’re at a crucial point in Canada right now. Oil prices have recovered but the Canadian industry is not rebounding as fast as other oil…

Ottawa’s contradictory climate policy just wastes money

Billions of dollars in spending announcements allow politicians to burnish their green credentials. But they don't get the job done

Ottawa’s contradictory climate policy just wastes money“Around the world, businesses, governments and experts agree that carbon pricing is the cheapest and most efficient way to cut carbon pollution,” Catherine McKenna, Canada’s environment and climate change minister, recently tweeted. If what she says is true, it means all other anti-carbon strategies – including regulations and subsidies – are unnecessarily expensive and inefficient.…

The Saudi-Canada spat and the New World Order of Oil

What's been billed as a clash over human rights is really all about oil and the Saudis keeping Canada in its place

The Saudi-Canada spat and the New World Order of OilCall it the clash of the oil titans. And it all started with a tweet. In one corner we have Saudi Arabia, the undisputed oil heavyweight of the world. It produces 11 million barrels per day (bpd) and is the planet’s largest oil exporter by far. In the other corner to challenge the champ, we…

Helping companies get out from under an avalanche of spreadsheets

Christopher Ronak of software developer 4castplus caters to a growing need for project cost management help

Helping companies get out from under an avalanche of spreadsheetsChristopher Ronak is CEO of 4castplus. Calgary’s Business: What is 4castplus and the story behind its founding? Ronak: 4castplus is construction project cost management software designed to provide organizations with a centralized platform to run all their major projects and programs, including infrastructure, pipeline, construction, mining and oil and gas. Users gain deep visibility, analytics and…

Canadian oil production on the upswing

Alberta (80.9%), Saskatchewan (10.7%) and Newfoundland and Labrador (5.9%) accounted for the vast majority of Canadian production of crude oil and equivalent products

Canadian oil production on the upswingCanada produced 21.8 million cubic metres (137.3 million barrels) of crude oil and equivalent products in May, up 13.5 per cent from the same month a year earlier, according to Statistics Canada. The federal agency said on Monday that non-upgraded production of crude bitumen (+22.8 per cent) was the main driver for the increase of…

Canada’s oil and gas industry faces dramatic shift

A new report by PetroLMI, a division of Energy Safety Canada, details the changing face of the energy workforce

Canada’s oil and gas industry faces dramatic shiftCanada’s oil and gas industry has undergone a significant transformation in the past decade. And as the industry has adjusted to the ups and downs of the economy, there were corresponding shifts in the distribution of the industry’s workforce and the daily experiences of those workers, says a new report by PetroLMI, a division of…

Canada shouldn’t stray from climate commitments in face of criticism

We can and should stand firm against outside pressure – principally from the U.S. – and internal pressure from people like Doug Ford

Canada shouldn’t stray from climate commitments in face of criticismBy Brendan Boyd and Barry Rabe EvidenceNetwork.ca Things look bleak these days for the federal government’s Pan-Canadian Framework on Clean Growth and Climate Change. But Canada should stay the course. The framework represents Canada’s primary compliance path with the Paris climate accord, requiring provinces to establish a price on carbon or have one imposed by Ottawa.…

Price of diesel fuel increases four-fold in 20 years

A report released by ATB Financial on Thursday looks at the Producer Price Index of the construction sector since 1998

Price of diesel fuel increases four-fold in 20 yearsDiesel fuel has been leading the increase of building material prices over the last two decades. A report released by ATB Financial on Thursday looked at the Producer Price Index of the construction sector since 1998. The index tracks the price of different inputs purchased by producers, similar to the Consumer Price Index. In the…

Energy sector drives up returns on Canadian pension plans and equities

But a new RBC Investor and Treasury Services report cautions that trade friction could impact the market

Energy sector drives up returns on Canadian pension plans and equitiesCanadian defined benefit pension plans were up 2.2 per cent in the second quarter and Canadian equities rose to 6.8 per cent. The latter reversed the first quarter loss of 3.9 per cent. A recent report from RBC Investor and Treasury Services All Plan Universe says the rebounding energy sector played a role. In a…

Service providers not feeling the energy sector rebound

Oil and gas extraction’s surge to $125 billion in May marked an increase of 32 per cent from May 2016

Service providers not feeling the energy sector reboundSupport services are not experiencing the same rebound as the energy sector itself, suggests a new study by ATB Financial. Oil and gas extraction surged to $125 billion in May, but energy service providers have not seen a comparable increase. “That has left thousands of service companies – many of them located here in Alberta…

Vermilion Energy production up 15% in second quarter

Greater production volumes and higher commodity prices resulted in $193 million in fund flows from operations

Vermilion Energy production up 15% in second quarterCalgary-based Vermilion Energy Inc. announced on Monday that production increased by 15 per cent in the second quarter to 80,625 barrels of oil equivalent per day (boe/d). Greater production volumes and higher commodity prices resulted in $193 million in fund flows from operations in the second quarter, marking a 23 per cent increase from the…

Imperial Oil net earnings hit nearly $200 million in quarter

Energy giant Imperial Oil reported on Friday that its second quarter earnings reached $196 million, an increase of $273 million compared to the net loss of $77 million in the same period of 2017. It said the quarter was characterized by significant planned maintenance at its major upstream and downstream assets. These activities affected operational…

Suncor net earnings reach $972 million in second quarter

The company’s Fort Hills project continues to ramp up ahead of schedule

Suncor net earnings reach $972 million in second quarterCalgary-based energy giant Suncor had net earnings of $972 million in the second quarter, up from $435 million for the same period in 2017. “Suncor generated the strongest second quarter cash flow on record, with funds from operations of $2.9 billion and operating earnings of $1.2 billion,” said Steve Williams, president and chief executive officer,…

The face-to-face grace of events that work

Wes Scott of EventWorx talks about creating business-to-business audiences and business-to-consumer marketplaces

The face-to-face grace of events that workWes Scott is president and CEO of EventWorx. Calgary’s Business: What is EventWorx and when was it formed? Scott: EventWorx is now the name behind the Atlantic Canada Petroleum Show, Oil Sands Trade Show & Conference, and Chemistry Canada. In September 2017, through a management buyout, EventWorx acquired these brands from dmg::events. We aim to…

How the Canadian oil and gas workforce is changing

Alberta has an abundance of job vacancies to be filled by new graduates and seasoned professionals with the will to adapt

How the Canadian oil and gas workforce is changingNot too many years ago, Alberta’s economy was stable with an abundance of work. But as the oil and gas economy declined in 2014, industry-related work changed in Fort McMurray, Edmonton, Calgary and elsewhere. Trade workers from Eastern Canada moved back home, impacting real estate sales and rental vacancies. Doubt about the provincial economy settled…
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