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Industry News

10.3 million U.S. jobs supported by oil industry in 2015

The natural gas and oil industry supported 10.3 million U.S. jobs and added $1.3 trillion to the nation's economy in 2015, according to a new study by the API. The study found that jobs supported by the industry increased by 500,000 since 2011 and showed that all 50 states, whether producing or non-producing, continued to benefit from the industry.

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Industry News

Reduced OPEC exports to North America hurting refiners but helping oilsands operators

Reduced OPEC oil exports to the North American market are narrowing an important price spread between light and heavy crude blends, pressuring margins for U.S. refiners on the Gulf Coast with specialized conversion capacity, according to Fitch Ratings. At the same time, Canadian exporters of heavy crude benefit from the tighter spreads in the form of higher realizations for their discounted grades of heavy oil.

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Free trade in energy under NAFTA a benefit to all partners, study states

Energy free trade under the North American Free Trade Agreement (NAFTA) has been good for the people of Canada, the United States (U.S.) and Mexico, keeping energy on the continent more affordable and reliable for citizens and the economy, according to a joint paper released by the Canadian Association of Petroleum Producers (CAPP), the American Petroleum Institute (API) and Mexican Association of Hydrocarbon Companies (AMEXHI).

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Drilling & Production
Industry News

PSAC revises 2017 drilling forecast upward after strong second quarter

The Petroleum Services Association of Canada (PSAC), in its third update to its 2017 Canadian Drilling Activity Forecast, announced that it was increasing its forecasted number of 6,680 wells to be drilled (rig released) across Canada for 2017 to 7,200 wells drilled. PSAC based its updated 2017 Forecast on average natural gas prices of $2.75 CDN/mcf (AECO), crude oil prices of US$49.00/barrel (WTI) and the Canada-US exchange rate averaging $0.77.

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Industry News
Pipelines

Pembina reports solid second-quarter results as agreement with Veresen moves forward

Pembina Pipeline Corporation has announced its results for the second quarter of 2017, an eventful period for the company which joined with Veresen to create one of the largest energy infrastructure companies in Canada. The company reported $2.8 billion worth of new projects going into service by the end of the second quarter, under budget and either on time or ahead of schedule. Pembina generated second-quarter earnings of $124 million, a 10 percent increase over 2Q 2016, and has earned $339 million year-to-date, up 58 percent year over year.

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Environmental

Oilfield water treatment system sees major milestone

ProSep, a technology and service provider for integrated process solutions, has announced a major milestone achievement for one of its proprietary produced water treatments, Osorb Media, a revolutionary, re-generable, modified organo-silica used for polishing oilfield water and gas streams. ProSep has secured a multi-million dollar order for this water treatment system, which is a momentous breakthrough for this technology that has been in a developmental phase for the past seven years. 

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Remote control technology allows easier operation of power sources

Miller Electric has expanded its ArcReach remote control technology to more engine-driven power sources in the Trailblazer and Big Blue families of products. ArcReach technology is now available on Trailblazer 325 power sources as well as Big Blue 600 Air Pak, 800 Duo Pro and 800 Duo Air Pak models, providing complete control of welding parameters at the weld joint — without a control cord. 

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Pipelines

TransCanada announces plans to expand Canadian Mainline capacity

TransCanada will apply to the National Energy Board (NEB) to expand the capacity of the Canadian Mainline System through its Maple Compressor Station near Vaughan, Ontario. The approximately $160 million project is underpinned by 15-year contracts and wil increase capacity to the southern Ontario market plus delivery to Atlantic Canada via the Trans Quebec & Maritimes Pipeline (TQM) and Portland Natural Gas Transmission (PNGTS) Systems.

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