Canada

Majority of the oil sands production from Canada might be impacted if the wildfires in Alberta and British Columbia aggravate, Rystad Energy stated in a report on Thursday. WHY IT is essential Canada is among the biggest oil sands producers in the world. Companies like Suncor Energy, Canadian Natural Resources and Imperial Oil have oil sands tasks within 150 km of Fort McMurry, an oil sands hub in Northern Alberta, with lots of employees residing in the city. In 2016, a big wildfire shut in over 1 million bpd of output in Fort McMurry. CONTEXT Canada's oil sands market produces...

Canada's main stock index moved higher on Thursday on improved rate cut bets after softerthanexpected U.S. inflation data, while shares of luxury garments group Canada Goose surged on fourthquarter results beat. At 10:21 a.m. ET (14:21 GMT), the Toronto Stock market's. S&P/ TSX composite index was up 31.79 points, or 0.14%,. at 22,316.55. Canada Goose rose to the top of the index,. including 19.7%, as the high-end clothing group beat Wall Street. price quotes for fourth-quarter results, riding on a recovery in. North America and consistent demand in China for its expensive puffer. coats. The more comprehensive customer discretionary index...

Oil and gas manufacturer Obsidian Energy stated on Wednesday that blockades by Canada's Woodland Cree First Country required it to shut in production at 2 of its sites amid an ongoing dispute with the Native community. The business stated that the first blockade occurred near its Walrus field property on May 5, requiring a production shutdown. The blockade later on shifted near the entrance of its Harmon Valley South (HVS) field operation on May 11, Obsidian said. The HVS field asset was producing 4,500 net barrels of oil comparable daily (boepd) at the time. Production at Walrus has restarted, but...

TC Energy beat firstquarter earnings price quotes on Friday as strong energy need improved the pipeline operator's transportation volumes of oil and gas. Crude demand in the U.S., the largest importer of Canada's. oil and gas, increased in the first quarter according to the U.S. Energy Details Administration, benefiting Canadian energy. companies. Overall incomes from TC Energy's pipeline sectors came in at. C$ 2.27 billion ($ 1.66 billion), compared to C$ 2.17 billion. in 2015, mainly on an earnings dive of 80% in its liquids. pipeline. This was mainly driven by the Keystone pipeline,. which accomplished 96% operational dependability, TC...

The discount on Western Canada Select ( WCS) heavy crude versus the North American standard West Texas Intermediate (WTI) widened a little on Thursday: * WCS for May shipment in Hardisty, Alberta, traded at $ 11.90 a barrel listed below WTI, according to brokerage CalRock, after closing at $11.75 a barrel below the criteria on Wednesday. * Canadian heavy crude stays near to its narrowest levels this year after the Trans Mountain pipeline growth task ( TMX) started commercial operations on Wednesday. * Lots of analysts anticipate TMX will assist tighten up heavy crude differentials to less than $10 a...

Canada's biggest oil and gas manufacturer Canadian Natural Resources is looking at chances to substantially increase bitumen output at its primary oil sands mine, the business said on Thursday. President Scott Stauth stated the company is considering a. 195,000 barrel-per-day (bpd) growth at its Horizon mining and. upgrading plant in northern Alberta through new extraction and. treatment procedures. Formerly the business stated it might add. 75,000 bpd of bitumen, however Stauth stated Canadian Natural had been. able to improve engineering and scale up the processes. Horizon currently has capacity to produce about 255,000 bpd. of artificial crude oil made from...

Equinor has actually signed a. longterm handle engineering companies to assist drive down the. cost of establishing two overseas oil discoveries that were. previously held off, the Norwegian energy group stated on. Thursday. The contract with the Subsea Integration Alliance, an. oilfield services group making up Subsea7 and. OneSubsea, could help restore strategies to establish Norway's Wisting. field and Canada's Bay du Nord, potentially opening around one. billion barrels of oil. Selecting the provider at this early stage is a brand-new method of. approaching project advancement for us, Equinor job. advancement head Trond Bokn said in a joint declaration with....

Solomon Islands lawmakers chosen Jeremiah Manele as their new prime minister on Thursday, raising the previous foreign minister who has pledged to continue the Pacific Island country's worldwide policy that drew it closer to China. Manele won 31 votes to Opposition leader Matthew Wales' 18 votes in the 50-seat parliament, Guv General Sir David Vunagi announced outside parliament house. A nationwide election last month saw incumbent Prime Minister Manasseh Sogavare's federal government lose half of its seats but failed to provide a bulk to any political celebration. The federal government and opposition celebrations lobbied intensively for weeks to win assistance...

Canadian oil and gas company Cenovus Energy beat firstquarter earnings quotes on Wednesday due to higher production and refinery throughput, and executives stated the startup of the Trans Mountain pipeline expansion (TMX). would open up new markets. TMX will nearly triple the flow of oil to Canada's west. coast to 890,000 barrels each day, which is expected to transform. access to global markets for the nation's producers. Wednesday. marked the business start of operations after the task. gotten final regulatory approvals on Tuesday. Our groups have actually been working with buyers, there's a. pretty huge market out there, which is...

Canadian energy company Enbridge has retained a joint endeavor collaboration between Barnard Building And Construction Business, Inc. and Civil and Building North America, Inc (CBNA). to build the Great Lakes Tunnel in the Straits of Mackinac, the business stated in a statement on Tuesday. The Great Lakes Tunnel will connect Michigan's peninsulas, supplying a safe and secure route for Enbridge's Line 5 pipeline. Barnard, based in Bozeman, Montana, and CBNA, based in Miami, Florida, will team up with Enbridge to construct the tunnel for the State of Michigan, the declaration stated. The agreement was given after Enbridge initiated a request...

The timeline for a. proposed pipeline linking East Mediterranean gas reserves to. Greece by means of Cyprus and Crete remains unpredictable as stakeholders. are evaluating its economic feasibility, delegates from Cyprus. and the East Mediterranean Gas Forum (EMGF) informed on. Friday. There is no concrete timeline right now, George. Papanastasiou, energy minister of Cyprus, told when. asked about a Last Financial Investment Decision (FID) on the so-called. EastMed task. Greece, Cyprus and Israel inked a handle 2020 to construct a. 2,000-kilometer (1,240-mile) subsea pipeline to move gas. from the eastern Mediterranean to Europe. FID on the job, which is approximated...

A Canadian regulator stated on Friday a Cenovus Energy subsidiary has been fined C$ 2.5. million ($ 1.83 million) for its role in the 2018 oil spill off. the country's Atlantic Coast. The Canada-Newfoundland and Labrador Offshore Petroleum. Board (C-NLOPB) had laid three charges against Husky Oil. Operations Ltd for the spill-- the largest in the province's. history-- in October 2021. Husky was obtained by Cenovus Energy. for $2.9 billion in the very same year. A dripping circulation line from the White Rose Field to the SeaRose. storage vessel spilled 250 cubic metres (1,572 barrels) of oil. in November 2018,...

Homeowners of the Canadian oil town threatened by an outofcontrol wildfire can return home, authorities stated Saturday, even as they alerted the neighborhood will need to compete with the blaze for the foreseeable future. Thousands of citizens of Fort McMurray, in northern Alberta, had been purchased to leave their homes previously this month. But favourable weather made a return home possible. With the current and projection weather, particularly the quantity of rain that has fallen on the fire, integrated with ongoing fire suppression and community protection efforts, I am pleased to announce it is now safe for us to end...

Canada on Friday purchased some petrochemical plants in Ontario to take strict steps to control pollution from cancercausing chemical benzene after release from a facility required a First Nation community to state a state of emergency. Federal Environment and Environment Modification Minister Steven Guilbeault released the order to the petrochemical industry in Sarnia, Ontario, a city less than 300 km (186 miles) west of Toronto. Last month, Aamjiwnaang First Country stated a state of emergency due to a chemical release from German company INEOS Styrolution's plastic manufacturing plant, which resulted in a minimum of 10 individuals going to the medical...

Cloud cover and shower over the next couple of days are set to help teams fighting a large wildfire near the Canadian oil sands city of Fort McMurray, Alberta, local authorities said on Friday. Overnight, the fire remained about 5.5 km (3.4 miles) from the garbage dump on the city's southern borders where teams are continuing to build a containment line. The local authority of Wood Buffalo, which includes Fort McMurray, said the fire was largely the same at 196 sq km (76. square miles). Fire behavior will be subdued today with cloud cover and. shower. The next couple of...

Overnight rain helped firefighters stall a large wildfire near the Canadian oil sands city of Fort McMurray, Alberta, and wet weather on Thursday was expected to further aid containment efforts, local authorities stated. The area received rain for a couple of hours through the night and the projection for the next couple of days is for more rainfall, officials for the Regional Town of Wood Buffalo, which includes Fort McMurray, stated at a rundown. This type of weather supplies a great window for firemens to make development, wildfire info officer Josee St-Onge said. The fire stayed about 5.5 km (3.4...

Brazilian federal district attorneys have submitted a suit to suspend a license provided to a. Canadian firm to install what would be Latin America's largest. fertilizer mine in the Amazon rainforest, their workplace said. The planned mine by Brazil Potash Corp overlaps with. ancestral lands of the Mura Indigenous individuals whose area is. in the process of demarcation, the district attorneys stated in a. statement issued on Tuesday. They included the licensing must be a. federal concern to be chosen by Brazil's environmental protection. company Ibama and not the state environmental body Ipaam. Federal company Ibama stated in response to...

Brazilian federal district attorneys have actually submitted a claim to suspend a license provided to a. Canadian company to install what would be Latin America's largest. fertilizer mine in the Amazon jungle, their workplace said. The planned mine by Brazil Potash Corp overlaps with. ancestral lands of the Mura Native people whose territory is. in the procedure of separation, the district attorneys stated in a. statement provided on Tuesday. They added the licensing should be a. federal concern to be decided by Brazil's environmental protection. agency Ibama and not the state environmental body Ipaam. The prosecutors' workplace in Manaus said...

A wildfire burning near Fort Nelson, in rural British Columbia has grown in size however is moving far from the town, providing some relief to citizens who were forced to leave, a provincial wildfire service said on Tuesday. Some 3,000 locals needed to flee the town after the fire was found on May 10, and is believed to be human triggered, the company added. Still, throughout Canada some 135 active fires are burning of which 40 are out of control. The Environment Canada has actually released air quality advisories on Tuesday for British Columbia, Alberta, Manitoba Saskatchewan and the Northwest...

Berkshire Hathaway Inc investors on Saturday overwhelmingly turned down six propositions addressing ecological and social policy issues at Warren Buffett's corporation, all of which the billionaire financier and his board opposed. By margins of more than 4-to-1, shareholders at Berkshire's. annual meeting voted against two proposals that the company's. insurance coverage and energy operations divulge more about their. efforts to attend to climate modification consisting of greenhouse gas. emissions. They also refused a proposal for more disclosure about. efforts to promote variety, equity and addition in the. office. By overwhelming bulks, investors voted versus a. different environment-related proposal, producing a...

Panama will disallow First Quantum from extracting copper throughout the closure of the mine it lost the rights to run in 2015, the nation's trade minister Jorge Rivera Staff told , adding that new ways need to be discovered to finance the mine's shutdown. Miners all over the world tend to keep mining during closure procedures as they utilize those earnings to finance shutdowns, however such a move is off the table when it comes to Cobre Panama, Rivera Personnel said in an interview on Thursday. The choice to strip Canada's First Quantum from its contract, which represented about 40%...

Canadian greenhouse gases emissions in 2022 increased less than expected after the worst of the pandemic, a sign the nation is on target to fulfill its climate goals, Environment Minister Stephen Guilbeault stated on Thursday. WHY IT is essential Canada, a leading oil and gas manufacturer, has actually missed every single one of its greenhouse gas emission targets. The Liberal government, which has introduced a raft of measures intended to address climate change and boost making use of green energy, states the information in its most current annual performance report reveal the country is on track as prepared to cut...

With Panama's. businessfriendly reputation bruised by a recent transfer to close a. copper mine accounting for 5% of GDP, the nation's next. president will face abnormally hard choices in attempting to get its. economy back on an even keel. But while economists and even some politicians are advising. the May 5 election's victor toward out of favor measures to improve. diminished coffers - consisting of a distressed state pension system -. the 5 frontrunners are squarely focused on the costs side. of the journal. It is progressively common in campaigns worldwide to see. prospects prevent touching on financial problems. Nobody...

Italy is promoting an contract amongst the Group of Seven wealthy countries to set a. target date for the phaseout of coal in power generation,. diplomatic sources stated ahead of a meeting of G7 energy. ministers in Turin. An arrangement on this would be one step in the direction. suggested by the COP28 United Nations climate summit in Dubai. last year to shift away from nonrenewable fuel sources, of which coal is. the most contaminating. Italy, which heads the G7 turning presidency this year,. currently prepares to shut off its coal-power plants by 2025,. other than on the island of...