12,500 jobs at risk in Canada’s oilpatch in 2019

Alberta will be hit the hardest, with 9,600 more jobs expected to disappear

12,500 jobs at risk in Canada’s oilpatch in 2019Some sobering news out on Monday about jobs in the struggling oilpatch. The 2019 Labour Market Update by the PetroLMI division of Energy Safety Canada indicates about 12,500 jobs are at risk this year due to several factors including low commodity prices, a decline in capital spending and continued uncertainty over market access. And Alberta,…

Mining permit waits hamper Canadian development

Exploration is the critical first stage in mining development. Yet many provinces don't meet their own guidelines

Mining permit waits hamper Canadian developmentEvery year, the Fraser Institute publishes a survey of senior mining company executives that assesses policy environments around the world and the mineral potential of jurisdictions. Those two components are used to create an investment attractiveness index. One thing miners repeatedly tell us is that they’re concerned about obtaining exploration permits: how long does it…

Oil production slips from December to January after mandatory cuts

January was the first month of temporary mandatory production cuts in Alberta: StatsCan

Oil production slips from December to January after mandatory cutsCrude oil and natural gas production and electricity generation rose in January, while coal production declined compared with the same month in 2018, says Statistics Canada. The federal agency reported on Friday that Canada produced 22.3 million cubic metres (140.3 million barrels) of crude oil and equivalent products in January, up 3.1 per cent from…

Creating the right environment for real estate success

Shami Sandhu talks about what makes Realty ONE Group different and why those differences work well for buyers and agents

Creating the right environment for real estate successShami Sandhu is president and regional director of Realty ONE Group of Western Canada. What is the Realty ONE Group and what do you do? Sandhu: Realty ONE Group is a full-service lifestyle real estate brand that has experienced rapid growth since Kuba Jewgieniew started the company in 2005. Unlike existing traditional models, we don’t…

Fire & Flower launches online cannabis sales

Edmonton-based retailer has e-commerce licence in Saskatchewan and is poised for growth elsewhere

Fire & Flower launches online cannabis salesYou can now order in your pizza and your pot – if you live in Saskatchewan. Fire & Flower Holdings Corp. on Monday launched an e-commerce platform to sell adult-use recreational cannabis to customers in Saskatchewan, and accessory products to the rest of the country. The online ordering service is available from the Edmonton-based retailer’s…

Canadian crude oil production on the rise

Exports on the rise to U.S. and elsewhere: StatsCan

Canadian crude oil production on the riseCanadian production of crude oil and equivalent products totalled 264.6 million cubic metres in 2018, up 8.5 per cent from the previous year, according to Statistics Canada. The federal agency reported on Monday that non-upgraded production of crude bitumen (+12.7 per cent) was the main contributor to the overall rise. Since January 2016, the average…

Global technology leader Cisco investing $15 million in Western Canada

Funding and testing innovations in areas such as the oil and gas sector, health-care digitization and environmental protection

Global technology leader Cisco investing $15 million in Western CanadaGlobal technology leader Cisco is investing $15 million to enhance its Western Canadian presence. “Getting the most out of the digital world of tomorrow means investing and preparing for it today,” said Rola Dagher, president of Cisco Canada, in making the announcement on Wednesday in Calgary. “The commitments announced today build on our strong track…

Saskatchewan among best mining investment sites worldwide

But Alberta's ranking continues to slip in the latest Fraser Institute report

Saskatchewan among best mining investment sites worldwideSaskatchewan is the world’s third most attractive jurisdiction for mining investment, while Alberta placed 51st in the latest Annual Survey of Mining Companies report released on Thursday by the public think-tank the Fraser Institute. “The mining survey – now in its 21st year – is the most comprehensive report card on government policy decisions that…

Canadian natural resource sector economic activity on the rise

The mineral and mining subsector drove the increase, led by potash

Canadian natural resource sector economic activity on the riseThe natural resource sector, including energy, saw the volume of economic activity grow in the third quarter of 2018, according to Statistics Canada. The federal agency reported Thursday that real gross domestic product in the natural resource sector rose by one per cent in the quarter following a 1.4 per cent increase in the second…

Alberta leads the way in crude oil production increase

Statistics Canada said exports of crude oil and equivalent products increased 10.7% from the same month a year earlier

Alberta leads the way in crude oil production increaseCanada produced 23.1 million cubic metres (145.6 million barrels) of crude oil and equivalent products in October, up 13.2 per cent from the same month a year earlier, according to Statistics Canada. The federal agency said on Friday that Alberta produced 19.3 million cubic metres of crude oil and equivalent products in October, an increase…

Report says oil prices expected to rise

Prices will improve because of increased demand from U.S. refineries, improving transportation capacity and mandatory productions cuts in Alberta

Report says oil prices expected to riseThe oilpatch in Alberta has had a tough go of it since oil prices collapsed in the latter part of 2014. But on Tuesday there was some good news from a new report released by Deloitte’s Resource and Advisory Group. It forecasts prices for Canadian heavy and light oil to improve somewhat in 2019 because…

Mainstreet Equity records best fiscal year since recession

A return to double-digit growth across all of its key real estate metrics

Mainstreet Equity records best fiscal year since recessionMainstreet Equity Corp. says the apartment rental company managed to not only survive but thrive in 2018, producing its best annual results since the recession began in 2014. For Fiscal 2018, which ended Sept. 30, this included a return to double-digit growth across all of its key real estate metrics. Net operating income grew 12…

Capital expenditures in Canadian oil patch plunge 58% from 2014

ATB report blames the decline on the completion of major projects and the dramatic oil price differential

Capital expenditures in Canadian oil patch plunge 58% from 2014The news from the oil patch continues to raise concerns across Alberta and Canada. The latest is the revelation that capital expenditure in the oil patch, a driving force of the national and provincial economies, is falling again. ATB Financial’s Economics & Research Team on Thursday released data from Statistics Canada indicating that there were “whispers…

Canada a dry hole for oil and gas investors

Onerous regulations, higher taxes and a lack of pipeline capacity are taking their toll on Canada’s energy sector: Fraser Institute

Canada a dry hole for oil and gas investorsThe oil and gas sector in Canada has been through some challenging times in recent years, making investment in the sector nowhere near what it used to be. A new report released on Thursday by the Fraser Institute, an independent Canadian public think-thank, indicates just how bad that’s become. The 2018 Global Petroleum Survey said no…