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Commodity Pricing


Month: July 2020

Oil crash sends Husky Energy to second-quarter loss

Husky Energy Inc on Thursday posted a quarterly loss as the COVID-19 pandemic caused crude oil prices to crash and sapped global demand for fuel. Crude prices also weakened after top producers, Saudi Arabia and Russia, decided to flood the market with oil earlier this year. The company said quarterly production fell nearly 8 per […]

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Oil lobby group wants changes to federal support programs

Canada’s oil and gas producers say a series of federal liquidity support programs designed to help the sector through a pandemic-caused crisis are ineffective and overly prescriptive. The Canadian Association of Petroleum Producers, an oil lobby group, is pushing the federal government to rejig the programs launched through Export Development Canada and the Business Development […]

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Bear Head LNG for sale

“Construction of the facility will begin this summer, and we look forward to the first flow of gas into the pipeline from the Bear Head LNG plant in 2008,” declared Nova Scotia Business Inc. president Stephen Lund. It was 2005, and the head of the Crown corporation tasked with economic development was announcing the sale […]

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Suncor Moves Terra Nova FPSO to Conception Bay

Canadian oil operator Suncor has moved its Terra Nova FPSO and docked it shoreside in Newfoundland after its planned drydock in Spain was canceled due to the COVID-19 outbreak. Suncor and its partners in the Terra Nova field in the Atlantic Ocean off Canada, last year sanctioned the Terra Nova Asset Life Extension (ALE) project […]

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Lobby for N.L. oil industry aid falls flat with ‘crickets’ from Ottawa

Exploration and development incentives unlikely, says industry association There’s mixed messages emerging from those lobbying for the federal government to deliver an aid package for Newfoundland and Labrador’s battered oil industry. The provincial offshore oil and gas association, known as Noia, is losing hope that Ottawa will come through with incentives for companies to explore [&h

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