Canadian energy production on the decline

StatsCan said crude oil delivered by pipelines to Canadian refineries was up 9.1% to 8.6 million cubic metres

Canadian energy production on the declineEnergy production in Canada declined in several sectors in August compared with the same month in 2018, according to Statistics Canada. The federal agency reported on Monday that production of crude oil and equivalent products (-2.4 per cent), natural gas (-4.8 per cent) and coal (-5.2 per cent), as well as electricity generation (-3.6 per…

Canadian drilling forecast continues to cool

Capital, companies, equipment and crews are leaving Canada for better opportunities, with the U.S. an easy choice: PSAC

Canadian drilling forecast continues to coolThe Petroleum Services Association of Canada has decreased its forecast for the number of wells expected to be drilled across Canada for this year. In its third update to its 2019 Canadian Drilling Activity Forecast, PSAC revised its number from 5,300 (May 2019 revision) to 5,100 wells drilled. PSAC now projects 2,425 wells to be…

It’s time to sell SaskPower

This Crown corporation’s long-term future is safest in private, rather than public, hands

It’s time to sell SaskPowerBy Dónal Gill Research Associate Frontier Centre for Public Policy The Frontier Centre for Public Policy recently released Running Hard to Adapt in a Dangerously Fast-Changing Industry by Ian Madsen, a senior policy analyst with the centre. The paper conducts an in-depth valuation and strategic appraisal of SaskPower, using an intrinsic value method and market-based…

Production in all primary energy sectors rises

And StatsCan says exports of crude oil and equivalent products increased in March

Production in all primary energy sectors risesProduction in all primary energy sectors rose in March compared with a year ago, according to data released Wednesday by Statistics Canada. And over the same period, exports of crude oil and equivalent products increased, while exports of natural gas and electricity decreased. The federal agency said production of crude oil and equivalent products rose…

Brad Wall sees a bright future for Western Canada

In the conclusion of an exclusive two-part interview, the former Saskatchewan premier talks about how changing political winds will drive the economy

Brad Wall sees a bright future for Western CanadaFormer Saskatchewan premier Brad Wall recently joined Calgary-based Avenue Living Asset Management as a special business adviser, as well as a trustee to the Avenue Living Real Estate Core Trust. The company has more than $1.3 billion in assets with more than 8,500 residential units across Western Canada. Calgary's Business has a two-part question and…

Income grew fastest in provinces with large oil and gas deposits

StatsCan study over 66 years provides insight into which provinces experienced the most growth over three generations

Income grew fastest in provinces with large oil and gas depositsData released Thursday by Statistics Canada may be a couple of years old but it illustrates the importance of the oil and gas sector to the economies of several provinces. “According to a new study, from 1950 to 2016, real gross domestic income (GDI) per capita grew fastest in provinces with large oil and gas…

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…

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…

Indigenous communities should tap into the medical tourism market

The James Smith Cree Nation could create what would be Saskatchewan’s first private-pay MRI facility

Indigenous communities should tap into the medical tourism marketA First Nation community about 70 kilometres southeast of Prince Albert, Sask., hopes to generate profit within five years from a private MRI clinic. The James Smith Cree Nation could create what would be the province’s first private-pay MRI facility. This became possible when the Saskatchewan government passed legislation in 2016 allowing for such facilities…

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…

The Canada option: is it still viable for Alberta?

Separation has become a real possibility thanks to the abuses and injustices imposed by Ottawa

The Canada option: is it still viable for Alberta?In the past couple of weeks, a retired senior oil executive, Gwyn Morgan, a former premier of Saskatchewan, Brad Wall, and a veteran journalist, Don Braid, all commented publicly on the current position of Alberta in Canada. They agreed on the nature of the problem, but stopped short of suggesting the obvious response. It’s not…

U.S. imports of Canadian heavy crude oil continues to grow

U.S. is by far the world’s largest refining market for heavy oil, processing more than half of all that type of crude globally in 2018

U.S. imports of Canadian heavy crude oil continues to growA new report released on Tuesday by IHS Markit says imports of Canadian heavy crude are an increasingly important source of supply to the United States, the world’s largest refining market for such crudes. The report, Looking North: A U.S. Perspective on Canadian Heavy Oil, said U.S. imports of Canadian heavy crudes will approach 2.8…

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…
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