In The News

RCI - Banned Russian oil is coming to Canada. Here’s how
Tuesday, 01/21/2025

January 21, 2025

Banned Russian oil is coming to Canada. Here’s how

By RCI

Russian oil continues to reach Canada through a loophole in federal sanctions, indirectly supporting the Kremlin’s finances amid its invasion of Ukraine. CBC News, in collaboration with the Centre for Research on Energy and Clean Air (CREA), found that about 2.5 million barrels of refined petroleum products originating from Russian crude—worth approximately $250 million—have entered Canada since the war began. This trade has generated over $100 million in...

Read Article
Khaleej Times-Epic NGL deal: Phillips 66 strikes $2.2 billion all-cash acquisition to boost natural gas liquids bet
Wednesday, 01/08/2025

January 7, 2025

Epic NGL deal: Phillips 66 strikes $2.2 billion all-cash acquisition to boost natural gas liquids bet

By: Reuters

Phillips 66 announced plans to acquire pipelines and distribution systems from Epic NGL, a pipeline operator backed by Ares, in a $2.2 billion all-cash deal to strengthen its investment in natural gas liquids (NGLs). NGLs, used in petrochemical production and heating, are expected to see faster growth than crude oil by the decade's end.

The acquisition includes Epic Y-Grade GP, Epic Y-Grade, and subsidiaries, and is...

Read Article
Calgary Herald: Varcoe: 'A nation-building project' — As producers tout TMX, attention turns to LNG Canada's debut while gas output sets record
Thursday, 11/07/2024

November 1, 2024

Varcoe: 'A nation-building project' — As producers tout TMX, attention turns to LNG Canada's debut while gas output sets record

By Chris Varcoe

The Canadian oil and gas sector faces contrasting pressures: depressed natural gas markets and the positive impact of the Trans Mountain expansion (TMX). The TMX, which started this spring, is driving increased oil drilling, record production, and rising exports, while low gas prices are slowing gas well completions. Canadian Natural Resources reported record oil production of over one million...

Read Article
Canadian natural gas firms eager for LNG boom swamp market with excess supply
Monday, 10/28/2024

October 11, 2024

Canadian natural gas firms eager for LNG boom swamp market with excess supply

By Nia Williams

The LNG Canada terminal, led by Shell, is set to start exporting in 2025, creating new demand for Canadian natural gas. However, analysts suggest this may not significantly raise gas prices due to a backlog of supply. Current low prices have already led some producers to curtail production, as Alberta’s AECO gas prices hit a low recently. Companies like Canadian Natural Resources and Advantage Energy are...

Read Article
New Permian oil pipelines unlikely to be built, say top operators
Monday, 10/28/2024

October 25, 2024

New Permian oil pipelines unlikely to be built, say top operators

By Arathy Somasekhar

Top executives from two major U.S. pipeline companies (Jim Teague with Enterprise Products and Willie Chiang with Plains All America) announced that they won’t build new crude oil pipelines from the Permian shale field in Texas due to slow volume growth and construction challenges. Instead, companies are focusing on expanding or optimizing existing pipelines. Enterprise Products Partners and Plains All American...

Read Article

Pages