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OPEC, Russia agree oil cut extension to end of 2018

VIENNA – OPEC and non-OPEC producers led by Russia agreed on Thursday to extend oil output cuts until the end of 2018 as they try to finish clearing a global glut of crude while signaling a possible early exit from the deal if the market overheats. 743 more words

News

'As precious as the resources:' Data science is oil industry's Next Big Thing

Lake Louise, Alta. • From low oil prices to renewable energy competition, Canada’s oil and gas sector has seen plenty of difficult disruption in recent years, but it’s eagerly embracing the next big thing: data science. 559 more words

Energy

Oil industry shows signs of life after Norway wealth fund shock

A week after Norway’s US$1 trillion sovereign wealth fund said it wanted to get out of oil and gas investments, the latest spending plans from oil companies show how the country’s not about to quit petroleum. 568 more words

Energy

Big Oil abandoning Canada’s oilsands in quest for cleaner crude

LONDON — There’s oil and then there’s oil, says Norway’s Statoil, which is pitched in a race to develop the cleanest crude as countries wean themselves off fossil fuels. 736 more words

Energy

Expensive and heavy piece of oilfield equipment stolen from Sask. well site

Unity RCMP are seeking the public’s help to identify a suspect after a high-value piece of oilfield equipment was stolen from a well site.

The blow-out preventer, valued at more than $45,000, was stolen from a Cona Resources well site in Winter, Sask., sometime between Nov. 87 more words

Saskatchewan

Alberta company receives grant for new technology to extract bitumen

The leader of an oilfield technology company hopes a $10-million grant announced Friday will help microwaves replace steam as a key way to extract bitumen from the oilsands. 352 more words

Local News

Imperial Oil gears up for new oilsands growth as innovative Aspen project gets closer to green light

CALGARY — Imperial Oil Ltd., the Canadian affiliate of Exxon Mobil Corp. — one of the few international companies still operating in Canada’s oilsands — is getting ready for another growth spurt in the Alberta deposits that could include green-lighting the new 150,000 barrel-a-day Aspen project early next year. 582 more words

Energy