Total SE announced an $8.1 billion writedown after the push to curb carbon emissions and the coronavirus pandemic challenged assumptions about the long-term viability of some oil and gas assets.
As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still.
The seven majors must cut production by 35% by 2040, and emissions by 40%, if the world is to warm by only 1.6 degrees Celsius, according to a new report from Carbon Tracker Initiative.
Shale drillers and oil sands producers have posted some healthy profits so far this year, but it’ll take oil consistently above $50 a barrel for their investments to pay off in the long run.
Royal Dutch Shell Plc is unlikely to take on new oil-sands projects as it maintains a grip on costs after crude’s crash forced competitors to write down Canadian reserves.
Oil major Shell has been reprimanded by the commissioner of Canada Elections for allegedly failing to provide some of its Fort McMurray oilsands workers adequate time off to vote in the 2015 election.
Suncor Energy Inc. plans to hold total greenhouse gas emissions at current levels through 2030 even as it boosts crude production by targeting a reduction in carbon output per barrel.
Canadian oil-sands producers who are restoring production after wildfires are finding U.S. refiners are doing just fine without as much crude from their northern neighbor.
Waseem Amin has been making big plans for his return to Fort McMurray, the Canadian oil-sands town devastated by wildfires last month. He came home to a city smelling of smoke and surrounded by charred hills dotted with hulks of burned trees.
Suncor Energy Inc. restarted oil-sands operations in the Regional Municipality of Wood Buffalo, an area in Canada that includes wildfire-ravaged Fort McMurray. It’s a move that enables thousands to return to work.
Alberta officials are counting on cool, humid weather in the coming days to help them better contain a raging wildfire in the heart of Canada’s energy industry and allow them to lift evacuation orders affecting some of the biggest production sites.
Energy regulators have recommended the approval of Kinder Morgan's $5.4billion Trans Mountain oil sands pipeline with the final decision now resting largely with Canada's Prime Minister Justin Trudeau.
Albertans who fled the wildfire devastation in the oil-sands community of Fort McMurray can tentatively expect to return in a couple of weeks, while the blaze still rages elsewhere in the region and major production sites remain shut.