Canada’s new Prime Minister Mark Carney faces his first real challenge to Canadian unity amid a soured relationship with the long-time trade partner and ally, the United States.
A movement to secede from Canada is growing in the oil-rich province of Alberta, which contributes a large part to Canadian economy and budget and has the highest gross domestic product (GDP) per capita among Canadian provinces.
The oil industry in Alberta is bracing for difficult times ahead, with WTI prices crashing to $60 per barrel and uncertainties about oil demand growing in a world of trade and tariff wars.
Last week, the tariffs announced by the Trump Administration and the decision by OPEC+ producers to add in May more barrels to the market than expected crushed oil prices, with WTI Crude, the U.S. benchmark, crashing to $60 per barrel—the lowest level in four years.
First Helium has made a discovery of shallow heavy oil and confirmed the extension of a helium-enriched natural gas play in Canada’s Alberta, the company said on Friday.
First Helium confirmed two discoveries at its Worsley Project, located in Northern Alberta, including a shallow heavy oil discovery and an extension of the Blue Ridge helium enriched natural gas play.
The company, which First Helium seeks to become one of North America’s leading independent providers of helium gas, holds over 53,000 acres along the highly prospective Worsley Trend.
Canadian hydrocarbons hotspot Alberta plans to develop a CAD 250-billion (USD 173-billion) fund to wean itself off oil and gas revenue, Bloomberg reported on Wednesday.
When the expanded Trans Mountain pipeline came online earlier this year, some media reported U.S. refiners should start worrying about the supply of Canadian crude. With a bigger TMX, Canada could now export overseas. Yet now, with a pro-oil administration coming in, Canada’s top oil-producing province is looking south again.
May 10 (Reuters) – A number of oil and gas companies in Canada’s main crude-producing province Alberta restarted shuttered production on Wednesday as wildfires that sparked widespread evacuations eased, although officials warned conditions could deteriorate.