Canada

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.

Financial Fallout: For two big companies, tougher times call for tougher actions.

Several companies have provided updates on their North American LNG projects, including Pembina, LNG Canada, and Sempra. The outlooks vary from plans to move ahead to others seeking money to stay afloat.

Westcoast Energy revised its inspection practices following the 2018 incident. Its model used to predict crack growth did not take into account all uncertainties

Canada’s wood bison, who live in northern Alberta near the proposed site of Teck Resources’s Frontier oil sands project, face “imminent threats” to their recovery, a report from the country’s environment department said.

Alberta carbon conversion challenge yields potential GHG reduction of millions of metric tons per year.