Canada

US Court decisions put two major pipelines on hold and led to the cancellation of another pipeline project within days of each other.

The US approved construction and operations for the Jordan Cove project in March; first gas is anticipated in 2024

When oil demand vaporized, oil sands producers cut 300,000 B/D of production from wells using steam injection to produce bitumen. It is a huge test of something they have long been reluctant to do—turn down in-situ production when prices plunge.

CB&I Storage Solutions joins a list of contractors working on the Trans Mountain Expansion Project.

For years Canadian heavy-oil production exceeded the volumes pipelines could handle.

Its reward for years of struggling to adapt to low prices and weak demand for its oil and gas has been an epic crash. Canadians selling change say it is time to consider possibilities that seemed inconceivable in the past.

The Alberta Energy Regulator has suspended a wide array of environmental monitoring requirements for oilsands companies over public health concerns raised by the COVID-19 pandemic.

After years of negotiations, the province announced that it had reached a preliminary agreement with the federal government that it calls a “major step toward providing Alberta’s oil and gas industry a single set of strong rules to reduce methane emissions and protect the environment.”

So many unprecedented changes have occurred in the Canadian oil business that it is impossible to compare the current downturn to anything seen before.

The savings result in part from the depreciation of global currencies against the US dollar, as most operating expenses in oil and gas production are realized in local currencies. Brazil leads in savings.