Investment in oilpatch rises in Q3

But overall investment this year is down from a year ago

Investment in oilpatch rises in Q3Following a 52 per cent drop in the second quarter, capital expenditures in the oil and gas extraction industries increased 11 per cent to $4.5 billion in the third quarter, reported Statistics Canada on Tuesday. The federal agency said year-to-date spending totalled $17.1 billion, a 34 per cent decline over the first three quarters of…

Imperial Oil announces job cuts

"Imperial has identified approximately 200 jobs that will be impacted."

Imperial Oil announces job cutsThe pain continues in Calgary with more layoffs in the oilpatch. On Wednesday, it was Imperial Oil's turn to announce some cost cutting. Here is what the company said in a news release on its website: "As part of previously announced plans to reduce expenditures, Imperial completed an assessment of the company’s workforce requirements. As…

Canada’s fossil fuel consumption to decline

Energy use in 2020 will fall by six per cent because of the COVID-19 pandemic, while crude oil production will decrease by seven per cent

Canada’s fossil fuel consumption to declineA new energy outlook from the Canada Energy Regulator (CER) finds that Canada's fossil fuel consumption declines over the next 30 years but without an accelerated energy transition, fossil fuels will still make up more than 60 per cent of Canada's fuel mix in 2050. The finding is in the report Canada's Energy Future 2020:…

Suncor to assume operatorship of Syncrude by end of 2021

Since 2016, Suncor has grown its ownership from 12 per cent to 58.74 per cent through acquisitions.

Suncor to assume operatorship of Syncrude by end of 2021Suncor Energy, as 58.74 per cent owner of the Syncrude Joint Venture, has announced that it, together with the other Syncrude joint venture owners – Imperial Oil Resources Limited, CNOOC Oil Sands Canada and Sinopec Oil Sands Partnership – have agreed in principle for Suncor to become the operator of the Syncrude project by the…
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