Today's Top Energy Headlines
April 16, 2021
- Oil dips, but posts a gain for the week amid demand recovery www.cnbc.com/2021/04/16/oil-markets-demand-outlook-china-and-us-economy.html
- White House considers methane-busting vow before climate summit www.jwnenergy.com/article/2021/4/16/white-house-considers-methane-busting-vow-before-c/
- Parliamentarians affirm importance of Line 5 pipeline for Canada and U.S. energynow.ca/2021/04/parliamentarians-affirm-importance-of-line-5-pipeline-for-canada-and-u-s-call-for-urgent-executive-action-to-keep-line-5-operating/
- Eastern Canadian Oil Heads to U.S. West Coast in Unusual Demand Shift energynow.ca/2021/04/eastern-canadian-oil-heads-to-u-s-west-coast-in-unusual-demand-shift/
- Canadians Support Natural Resource Development – Ipsos Poll energynow.ca/2021/04/canadians-support-natural-resource-development-ipsos-poll/
- Oil Demand Is Finally Bouncing Back oilprice.com/Energy/Energy-General/Oil-Demand-Is-Finally-Bouncing-Back.html
- Russia: OPEC+ To Gradually Ease Production Cuts In May-July oilprice.com/Energy/Crude-Oil/Russia-OPEC-To-Gradually-Ease-Production-Cuts-In-May-July.html
Weekly Energy Headlines
- Oil jumps 5% on signs of increasing demand, inventory decline (April 14, 2021) www.cnbc.com/2021/04/14/oil-markets-us-inventories-opec-demand-outlook.html
- U.S. oil comprised 77 per cent of Canada's foreign oil imports last year: regulator (April 14, 2021) www.jwnenergy.com/article/2021/4/14/us-oil-comprised-77-per-cent-of-canadas-foreign-oi/
- Enbridge’s Great Lakes Line 5 Pipeline Is ‘Nonnegotiable’ for Canada (April 14, 2021) energynow.ca/2021/04/enbridges-great-lakes-line-5-pipeline-is-nonnegotiable-for-canada/
- Four provinces to sign memorandum of understanding to explore small nuclear reactors (April 14, 2021) energynow.ca/2021/04/four-provinces-to-sign-memorandum-of-understanding-to-explore-small-nuclear-reactors/
- A $12.5 Billion Deal Shows Saudi Oil Still Eclipses All Else (April 14, 2021) energynow.ca/2021/04/a-12-5-billion-deal-shows-saudi-oil-still-eclipses-all-else/
- Lithium Prices Could Triple As EV Production Soars (April 14, 2021) oilprice.com/Energy/Energy-General/Lithium-Prices-Could-Triple-As-EV-Production-Soars.html
- The World Still Needs Hundreds Of Billions Of Barrels Of Oil (April 14, 2021) oilprice.com/Energy/Energy-General/The-World-Still-Needs-Hundreds-Of-Billions-Of-Barrels-Of-Oil.html
- Oil rises after robust China data but J&J vaccine pause weighs (April 13, 2021) www.cnbc.com/2021/04/13/oil-markets-middle-east-tensions-us-crude-oil-inventory.html
- Tamarack Valley strikes deal to buy private Anegada Oil for $494 million (April 13, 2021) www.jwnenergy.com/article/2021/4/12/tamarack-valley-strikes-deal-to-buy-private-anegad/
- Canada's greenhouse gas emissions increased slightly in 2019: report (April 13, 2021) www.jwnenergy.com/article/2021/4/12/canadas-greenhouse-gas-emissions-increased-slightl/
- Trans Mountain building on history of zero marine tanker spills (April 13, 2021) energynow.ca/2021/04/trans-mountain-building-on-history-of-zero-marine-tanker-spills-with-major-investment-in-b-c-response-capacity/
- New York State pension fund restricts investments in Canadian oil sands companies (April 13, 2021) energynow.ca/2021/04/new-york-state-pension-fund-restricts-investments-in-canadian-oil-sands-companies/
- OPEC raises 2021 oil demand growth forecast on hope pandemic wanes (April 13, 2021) energynow.ca/2021/04/opec-raises-2021-oil-demand-growth-forecast-on-hope-pandemic-wanes/
- Venture Capital Bets Big On Texas As World Capital Of Clean Energy Tech (April 13, 2021) oilprice.com/Latest-Energy-News/World-News/Venture-Capital-Bets-Big-On-Texas-As-World-Capital-Of-Clean-Energy-Tech.html
- Oil dips as supply outlook outweighs rising demand (April 9, 2021) www.cnbc.com/2021/04/09/oil-markets-dollar-covid-pandemic.html
- Shale giant praises ‘brilliant’ OPEC for rebalancing oil market (April 9, 2021) www.jwnenergy.com/article/2021/4/9/shale-giant-praises-brilliant-opec-for-rebalancing/
- COVID-19 surge complicates busy maintenance season for Canada’s oil sands (April 9, 2021) energynow.ca/2021/04/covid-19-surge-complicates-busy-maintenance-season-for-canadas-oil-sands/
- Canada says government fund helping to cut methane emissions (April 9, 2021) energynow.ca/2021/04/canada-says-government-fund-helping-to-cut-methane-emissions/
- Canada Launches Hydrogen Strategy Steering Committee (April 9, 2021) energynow.ca/2021/04/canada-launches-hydrogen-strategy-steering-committee/
- Saudi Minister Confident that OPEC+ Made Right Output Decision (April 9, 2021) energynow.ca/2021/04/saudi-minister-confident-that-opec-made-right-output-decision/
- Russia: Pandemic Could Continue Affecting Oil Demand Until 2024 (April 9, 2021) oilprice.com/Energy/Energy-General/Russia-Pandemic-Could-Continue-Affecting-Oil-Demand-Until-2024.html
- Oil up on global economic recovery, but high U.S. gasoline stocks weigh (April 7, 2021) www.cnbc.com/2021/04/07/oil-markets-economic-outlook-us-stockpile-draw.html
- Enbridge sees oilsands spending rising after a year-long freeze (April 7, 2021) calgaryherald.com/commodities/energy/oil-gas/enbridge-sees-oilsands-spending-rising-after-a-year-long-freeze/wcm/6bd33397-8d0b-4113-8d5f-80c0a2729907
- Roadblocks and protests adding value to existing pipelines (April 7, 2021) energynow.ca/2021/04/roadblocks-and-protests-adding-value-to-existing-pipelines-says-enbridge-ceo/
- Canadian oil producers CNRL, Cenovus plan new emissions targets, no pivot to renewables (April 7, 2021) energynow.ca/2021/04/canadian-oil-producers-cnrl-cenovus-plan-new-emissions-targets-no-pivot-to-renewables/
- U.S. Oilfield services sector added 23,000 jobs in March (April 7, 2021) energynow.ca/2021/04/u-s-oilfield-services-sector-added-23000-jobs-in-march-industry-report/
- EIA Increasingly Optimistic About Oil Demand Growth (April 7, 2021) oilprice.com/Energy/Energy-General/EIA-Increasingly-Optimistic-About-Oil-Demand-Growth.html
- The Oil Industry Receives An Unexpected Boost From Biden (April 7, 2021) oilprice.com/Energy/Energy-General/The-Oil-Industry-Receives-An-Unexpected-Boost-From-Biden.html
- Oil gains more than 1% as economic data spurs optimism (April 6, 2021) www.cnbc.com/2021/04/06/oil-rebounds-on-robust-economic-data-.html
- Nauticol on track to produce first net-zero methanol as new technologies gain momentum in Alberta (April 6, 2021) calgaryherald.com/commodities/energy/oil-gas/calgarys-nauticol-on-track-to-becoming-first-producer-to-achieve-net-zero-methanol/wcm/fd13e7e8-7a4f-44c0-a989-39c925e01527
- Bigger grant for petrochemical complex should boost Inter Pipeline bid, analyst says (April 6, 2021) www.jwnenergy.com/article/2021/4/6/bigger-grant-for-petrochemical-complex-should-boos/
- Enbridge to Biden: Lake Michigan pipeline tunnel fits U.S. plans (April 6, 2021) www.jwnenergy.com/article/2021/4/6/enbridge-to-biden-lake-michigan-pipeline-tunnel-fi/
- Industry optimism rising to pre-pandemic levels (April 6, 2021) energynow.ca/2021/04/industry-optimism-rising-to-pre-pandemic-levels-capp-energy-symposium-hears-2/
- China, U.S. Made 2020 a Record Year for Renewable Power Growth (April 6, 2021) energynow.ca/2021/04/china-u-s-made-2020-a-record-year-for-renewable-power-growth/
- OPEC Is Betting Big On Robust Oil Demand Recovery (April 6, 2021) oilprice.com/Energy/Energy-General/OPEC-Is-Betting-Big-On-Robust-Oil-Demand-Recovery.html
- OPEC+ decides to gradually curb output cuts as demand concerns persist (April 1, 2021) www.cnbc.com/2021/04/01/opec-to-decide-on-oil-production-policy-as-demand-concerns-persist.html
- Study finds Alberta quotas successfully boosted crude prices, warns of lingering effects (April 1, 2021) www.jwnenergy.com/article/2021/4/1/study-finds-alberta-quotas-successfully-boosted-cr/
- What's in a name change? Plenty for Canada's drillers and cattle sector (April 1, 2021) calgaryherald.com/opinion/columnists/varcoe-whats-in-a-name-change-plenty-for-canadas-drillers-and-cattle-sector
- Supreme Court said carbon tax legal – but Canadians still don’t want it (April 1, 2021) energynow.ca/2021/04/new-poll-supreme-court-said-carbon-tax-legal-but-canadians-still-dont-want-it/
- OPEC+ to Choose Between Gradual Output Hikes or Keeping Cuts (April 1, 2021) energynow.ca/2021/04/opec-to-choose-between-gradual-output-hikes-or-keeping-cuts/
- Big Oil Beats NYC Appeal On Climate Change Lawsuit (April 1, 2021) oilprice.com/Latest-Energy-News/World-News/Big-Oil-Beats-NYC-Appeal-On-Climate-Change-Lawsuit.html
- U.S. Oil Rig Count Posts Double Digit Gains As Oil Prices Rise (April 1, 2021) oilprice.com/Energy/Energy-General/US-Oil-Rig-Count-Posts-Double-Digit-Gains-As-Oil-Prices-Rise.html
- Oil dips ahead of meeting between oil-producing nations (March 30, 2021) www.cnbc.com/2021/03/30/oil-markets-suez-canal-opec-supply-policy.html
- Carbon Taxes, Cash Flow, Confidence and the Future of the Canadian Oilpatch (March 30, 2021) energynow.ca/2021/03/carbon-taxes-cash-flow-confidence-and-the-future-of-the-canadian-oilpatch/
- Alberta, Saskatchewan, Ontario urge Michigan to reconsider shutting down Line 5 (March 30, 2021) energynow.ca/2021/03/alberta-saskatchewan-ontario-urge-michigan-to-reconsider-shutting-down-line-5/
- Canada’s leadership in carbon mitigation tech sparking imagination about the future energynow.ca/2021/03/canadas-leadership-in-carbon-mitigation-tech-sparking-imagination-about-the-future-deborah-jaremko/
- Canada’s Oil Crisis Could Hurt U.S. Consumers (March 30, 2021) https://oilprice.com/Energy/Energy-General/Canadas-Oil-Crisis-Could-Hurt-US-Consumers.html
- Blocking The Sun: A Crazy Idea To Stop Climate Change? (March 30, 2021) oilprice.com/Energy/Energy-General/Blocking-The-Sun-A-Crazy-Idea-To-Stop-Climate-Change.html
- Novatek Looks To Start Hydrogen Production In Russia’s Arctic (March 30, 2021) oilprice.com/Energy/Energy-General/Novatek-Looks-To-Start-Hydrogen-Production-In-Russias-Arctic.html
- Oil rises ahead of key OPEC meeting (March 29, 2021) www.cnbc.com/2021/03/29/oil-markets-suez-canal.html
- Kenney says Alberta didn't prep carbon tax fallback plan, was hoping to win in court (March 29, 2021) www.jwnenergy.com/article/2021/3/29/kenney-says-alberta-didnt-prep-carbon-tax-fallback/
- New Mexico passes stricter rules to cut gas flaring (March 29, 2021) www.jwnenergy.com/article/2021/3/29/new-mexico-passes-stricter-rules-to-cut-gas-flarin/
- Full Circle on Risk & Uncertainty: The Kitimat LNG Project (March 29, 2021) energynow.ca/2021/03/full-circle-on-risk-uncertainty-the-kitimat-lng-project-greg-mclean/
- Northern Alberta pipeline leak spills estimated 100,000 litres of ‘sour emulsion’ (March 29, 2021) energynow.ca/2021/03/northern-alberta-pipeline-leak-spills-estimated-100000-litres-of-sour-emulsion/
- Robots May Replace 20% of Oilfield Jobs in a Decade (March 29, 2021) energynow.ca/2021/03/robots-may-replace-20-of-oilfield-jobs-in-a-decade-report-says/
- Canada Could Become A Superpower In The Global Battery Market (March 29, 2021) oilprice.com/Energy/Energy-General/Canada-Could-Become-A-Superpower-In-The-Global-Battery-Market.html
- Oil drops more than 4%, on pace for third straight week of losses (March 25, 2021) www.cnbc.com/2021/03/25/oil-markets-coronavirus-suez-canal.html
- Supreme court says the federal carbon price is constitutional (March 25, 2021) www.jwnenergy.com/article/2021/3/25/supreme-court-says-the-federal-carbon-price-is-con/
- Supreme Court Carbon Tax Ruling: Premier Kenney’s Response (March 25, 2021) energynow.ca/2021/03/supreme-court-carbon-tax-ruling-premier-kenney/
- Court ruling on federal carbon price both clarifying and worrying, say experts (March 25, 2021) energynow.ca/2021/03/court-ruling-on-federal-carbon-price-both-clarifying-and-worrying-says-expert/
- Energy transition risks political strife in oil-producing countries (March 25, 2021) energynow.ca/2021/03/energy-transition-risks-political-strife-in-oil-producing-countries-report/
- Biggest Oil Lobby Throws Support Behind Carbon Pricing (March 25, 2021) oilprice.com/Latest-Energy-News/World-News/Biggest-Oil-Lobby-Throws-Support-Behind-Carbon-Pricing.html
- China Emerges As The Leader In The Clean Energy Boom (March 25, 2021) oilprice.com/Energy/Energy-General/China-Emerges-As-The-Leader-In-The-Clean-Energy-Boom.html
- Oil up as Suez Canal ship runs aground, stemming market’s recent weakness (March 24, 2021) www.cnbc.com/2021/03/24/oil-markets-coronavirus-us-crude-stocks.html
- CP Rail/KCS rail merger to unite loading and unloading links for bitumen transport (March 24, 2021) www.jwnenergy.com/article/2021/3/24/cp-railkcs-rail-merger-to-unite-loading-and-unload/
- Modest employment recovery expected for Canada’s oil and gas industry workforce by 2023 (March 24, 2021) energynow.ca/2021/03/modest-employment-recovery-expected-for-canadas-oil-and-gas-industry-workforce-by-2023-says-new-petrolmi-research/
- Risks from LNG Quebec project far outweigh benefits: environmental review board (March 24, 2021) energynow.ca/2021/03/risks-from-lng-quebec-project-far-outweigh-benefits-environmental-review-board/
- As Europe tightens lockdowns, OPEC+ to keep oil taps tight -sources (March 24, 2021) energynow.ca/2021/03/as-europe-tightens-lockdowns-opec-to-keep-oil-taps-tight-sources/
- How Will We Pay for the Energy Transition? (March 24, 2021) oilprice.com/Energy/Energy-General/How-Will-We-Pay-for-the-Energy-Transition.html
- The Iran-China Axis Is A Fast Growing Force In Oil Markets (March 24, 2021) oilprice.com/Energy/Energy-General/The-Iran-China-Axis-Is-A-Fast-Growing-Force-In-Oil-Markets.html
- Oil tumbles 4% on concerns over Europe curbs, rollouts (March 23, 2021) www.cnbc.com/2021/03/23/oil-markets-europe-coronavirus-curbs.html
- CP Rail merger with Kansas City Southern expected to benefit Canadian shippers (March 23, 2021) www.jwnenergy.com/article/2021/3/23/cp-rail-merger-with-kansas-city-southern-expected-/
- Canadian oil patch braces for more deals after record start to 2021 (March 23, 2021) energynow.ca/2021/03/canadian-oil-patch-braces-for-more-deals-after-record-start-to-2021/
- Canada Energy Regulator predicts oil province Alberta to lead growth in renewables (March 23, 2021) energynow.ca/2021/03/canada-energy-regulator-predicts-oil-province-alberta-to-lead-growth-in-renewables/
- Proposed Alberta methanol project inks deal to add carbon capture ability (March 23, 2021) energynow.ca/2021/03/proposed-2-6b-alberta-methanol-project-inks-deal-to-add-carbon-capture-ability/
- The Fossil Fuel Industry Is Talking About ESG Like Never Before (March 23, 2021) energynow.ca/2021/03/the-fossil-fuel-industry-is-talking-about-esg-like-never-before/
- Why Aramco Isn’t Rushing To Boost Its Oil Production (March 23, 2021) oilprice.com/Energy/Crude-Oil/Why-Aramco-Isnt-Rushing-To-Boost-Its-Oil-Production.html
- Oil drops more than 7% in worst day since September (March 18, 2021) www.cnbc.com/2021/03/18/oil-markets-us-stockpile-build-demand-worries.html
- States sue Biden in bid to revive Keystone XL pipeline (March 18, 2021) www.jwnenergy.com/article/2021/3/18/states-sue-biden-in-bid-to-revive-keystone-xl-pipe/
- Metro Vancouver council rejects “fossil fuel treaty” that would seek to end thousands of B.C. jobs (March 18, 2021) energynow.ca/2021/03/metro-vancouver-council-rejects-fossil-fuel-treaty-that-would-seek-to-end-thousands-of-b-c-jobs/
- How Fossil Fuels Feed The World (March 18, 2021) energynow.ca/2021/03/how-fossil-fuels-feed-the-world-david-yager/
- Feeling sticker shock at the gas pump? Here’s why (March 18, 2021) energynow.ca/2021/03/feeling-sticker-shock-at-the-gas-pump-heres-why/
- Asia To Account For 90% Of Global Oil Demand Growth Through 2025 (March 18, 2021) oilprice.com/Energy/Crude-Oil/IEA-Asia-To-Account-For-90-Of-Global-Oil-Demand-Growth-Through-2025.html
- IEA: Gasoline Demand May Never Fully Recover (March 18, 2021) oilprice.com/Energy/Energy-General/IEA-Gasoline-Demand-May-Never-Fully-Recover.html
- Oil posts fourth straight negative session on U.S. inventory build (March 17, 2021) www.cnbc.com/2021/03/17/oil-markets-economic-recovery-and-demand-worries.html
- U.S. courts would take 'many years' to resolve Line 5 dispute with Michigan (March 17, 2021) www.jwnenergy.com/article/2021/3/17/us-courts-would-take-many-years-to-resolve-line-5-/
- Enbridge asks Canadian government to support oil pipeline in dispute with Michigan (March 17, 2021) energynow.ca/2021/03/enbridge-asks-canadian-government-to-support-oil-pipeline-in-dispute-with-michigan/
- Global Oil Demand Won’t Hit Pre-Virus Level Until 2023 (March 17, 2021) energynow.ca/2021/03/global-oil-demand-wont-hit-pre-virus-level-until-2023-iea-says/
- Alberta regulator orders takeover of Mojek Resources’ wells, pipelines, facilities (March 17, 2021) energynow.ca/2021/03/alberta-regulator-orders-takeover-of-mojek-resources-wells-pipelines-facilities/
- Three Commodities Set To Boom As The Global Economy Recovers (March 17, 2021) oilprice.com/Energy/Energy-General/Three-Commodities-Set-To-Boom-As-The-Global-Economy-Recovers.html
- Biden’s Energy Agenda To Reduce Oil Production And Boost Prices (March 17, 2021) oilprice.com/Energy/Energy-General/Bidens-Energy-Agenda-To-Reduce-Oil-Production-And-Boost-Prices.html
- Oil declines despite improving economic outlook (March 15, 2021) www.cnbc.com/2021/03/15/oil-markets-china-energy-demand-outlook-brent-moves.html
- Corporate head office job losses a 'wake up call' for Calgary (March 15, 2021) www.jwnenergy.com/article/2021/3/15/corporate-head-office-job-losses-a-wake-up-call-fo/
- Canada needs West-East oil pipeline to end dependence on America as global demand grows (March 15, 2021) energynow.ca/2021/03/canada-needs-west-east-oil-pipeline-to-end-dependence-on-america-as-global-demand-grows/
- Manitoba introduces bill proposing tougher fines for protesters (March 15, 2021) energynow.ca/2021/03/manitoba-introduces-bill-proposing-tougher-fines-for-protesters/
- When it comes to COVID aid, the oil and gas industry got put on hold (March 15, 2021) energynow.ca/2021/03/commentary-when-it-comes-to-covid-aid-the-oil-and-gas-industry-got-put-on-hold/
- U.S. Braces For Expensive Gasoline This Summer (March 15, 2021) oilprice.com/Latest-Energy-News/World-News/US-Braces-For-An-Expensive-Gasoline-This-Summer.html
- The Big OPEC+ Gamble Appears To Be Paying Off (March 15, 2021) oilprice.com/Energy/Energy-General/The-Big-OPEC-Gamble-Appears-To-Be-Paying-Off.html
- Oil jumps more than 2% on improving economic outlook (March 11, 2021) www.cnbc.com/2021/03/11/oil-markets-oil-price-moves-on-economic-outlook-drawdown-in-fuel-stocks.html
- 'Blockadia' helped cancel the Keystone XL pipeline (March 11, 2021) calgaryherald.com/pmn/news-pmn/blockadia-helped-cancel-the-keystone-xl-pipeline-and-could-change-mainstream-environmentalism/wcm/813927be-91d0-4d13-9bd9-e065b0d88877
- Tourmaline Oil reports Q4 earnings of $629 million and 12 per cent production rise (March 11, 2021) www.jwnenergy.com/article/2021/3/11/tourmaline-oil-reports-q4-earnings-of-629-million-/
- Trans Mountain Wants to Keep Insurers Secret Amid Pipe Pushback (March 11, 2021) energynow.ca/2021/03/trans-mountain-wants-to-keep-insurers-secret-amid-pipe-pushback/
- The Winners and Losers From Surging Oil and Commodity Prices (March 11, 2021) energynow.ca/2021/03/the-winners-and-losers-from-surging-oil-and-commodity-prices/
- China Splurges On Iranian Oil Despite U.S. Sanctions (March 11, 2021) oilprice.com/Energy/Crude-Oil/China-Splurges-On-Iranian-Oil-Despite-US-Sanctions.html
- OPEC Sees Strong Oil Demand In The Second Half Of 2021 (March 11, 2021) oilprice.com/Energy/Crude-Oil/OPEC-Sees-Strong-Oil-Demand-In-The-Second-Half-Of-2021.html
- Oil rises as recovery optimism outweighs U.S. inventory build (March 10, 2021) www.cnbc.com/2021/03/10/oil-markets-us-inventories-data-api-numbers.html
- Oil Bulls Who Stayed Course Through Free-Fall Reap Rewards (March 10, 2021) energynow.ca/2021/03/oil-bulls-who-stayed-course-through-free-fall-reap-rewards/
Energy Data
Canadian Association of Oilwell Drilling Contractors (CAODC)
2021 Total Wells Drilled (Western Canada): 3,771 (up 14% Y/Y)
2021 Total Operating Days (Western Canada): 33,938 (up 14% Y/Y)
Western Canada Wells Drilled vs. Operating Days - 2021E
Source: CAODC (Updated Nov 18, 2020)
BOE Report - Canada Energy News / Rig Count
U.S. Energy Information Administration (EIA)
EIA Industry Data
Crude Oil:
Natural Gas:
International Energy Agency (IEA)
Industry Data
Oil Demand Growth:
Source: O&G Journal
Source: Fraser Institute
Source: NGI