Indigenous communities have the innovation and drive to build a cleaner more resilient energy sector. That is why Canada is investing to increase Indigenous economic participation in energy infrastructure projects.
CAPP says Canada can play a key role on world stage if Canadians 'vote for energy'
2100, 350 - 7 Avenue SW
CA, T2P 3N9
Canada's next federal government has an opportunity to help define a strategic, long-term vision for the growth of Canada's oil and natural gas sector, one that promotes jobs and a healthy economy for all Canadians, while being part of the solution to meet growing global energy demand with responsibly developed energy, according to the Canadian Association of Petroleum Producers (CAPP).
CAPP believes Canadian energy reflects Canadian values: environmental innovation; Indigenous reconciliation; community engagement; and, leadership in labour and human rights. Using Canadian oil and natural gas is about more than meeting energy needs - it is about using the best product to displace less responsibly produced ones.
"Canadians know how important the oil and natural gas industry is to the country. Our values are shared values. A vote for energy is a vote for Canada's future and sends the message Canada can, and should, be supplying energy to the world," said CAPP president and CEO Tim McMillan. "Canada has lost its competitive edge as a result of regulatory and policy changes that have scared investors away. It's time to attract global investment back to Canada's oil and natural gas industry with greater regulatory clarity, and fiscal and economic policies that allow us to compete globally."
In its 2019 federal energy platform, Oil and Natural Gas Priorities: Putting Canada on the World Stage, CAPP outlines opportunities for all of Canada's federal political parties to address the issues facing the oil and natural gas industry, including market access, regulatory policy, Indigenous prosperity, climate and innovation, and fiscal and tax policy.
The job of the next federal government is to create the conditions necessary for Canada to play a key role on the world stage. The Government of Canada needs to create the conditions to:
- Support the completion of currently proposed major pipeline and liquefied natural gas projects;
- Supply Canada's domestic oil and natural gas needs with domestic production;
- Increase participation in Indigenous communities and businesses in Canada's oil and natural gas sector;
- Double current investment in the sector within the next four years, to return to or surpass 2014 levels; and,
- Grow Canada's contribution to global oil and natural gas supply.
It is also the federal government's job to enable national prosperity with a regulatory regime that assesses oil and natural gas projects in a timely manner, and provides certainty to Canadians and investors. Bringing investment back to Canada, and building a growing oil and natural gas industry could yield significant socio-economic benefits across the country.
"It should be a priority for the next federal government to position Canada for success by supporting the completion of major pipelines and LNG projects and making Canada globally competitive again," McMillan said.
In the upcoming federal election, it's important all Canadians vote for energy at the ballot box. CAPP's federal energy platform is to inform all Canadians of the concerns and vision of the oil and natural gas business in a manner that is non-partisan and is not advertising. The business of energy is the business of every government regardless of its political persuasion. CAPP does not support or oppose any particular registered party or candidate.
CAPP's Oil and Natural Gas Priorities: Putting Canada on the World Stage can be found here.
- Capital investment across Canada's oil and natural gas industry is forecast to fall to $37 billion in 2019 compared to $81 billion in 2014. Meanwhile, global capital investment continues to increase in countries such as Egypt, the Gulf of Mexico in the United States, Brazil, and Guyana - regions with less stringent climate policies.
- In 2018 the lack of pipelines for Canadian heavy crude oil resulted in $20.6 billion in foregone revenues for the Canadian energy industry - equivalent to about one per cent of Canada's gross domestic product, according to the Fraser Institute.
- The International Energy Agency's World Energy Outlook 2018, projects oil and natural gas will continue to grow substantially and account for 53 per cent of the world's total energy demand in 2040.
- Canada's oil and natural gas industry is committed to climate leadership and accelerating environmental performance through innovation.
More from Industry News
While both Alberta and Texas were hit hard by the oil-price drop in 2014, the Texas unemployment rate has dropped while the Alberta rate has risen, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
Obsidian Energy has continued to make good progress moving through the second quarter of 2019, according to its most recent financial reports.
Certarus Ltd. enters into CNG supply agreement with Kirkland Lake Gold for its Canadian mining operations
Certarus Ltd. has entered into a long term compressed natural gas ("CNG") supply agreement with Kirkland Lake Gold for the implementation of bulk compressed natural gas to service the heating requirements at all of its Canadian mining operations.
FLO Components Ltd. is representing Macnaught in Ontario and Manitoba. Macnaught has been a manufacturer of grease, oil and fuel equipment, hose reels and positive displacement flow meters for the agricultural, automotive, industrial, mining and transport industries across the globe, since 1948.
CAS DataLoggers provided the data acquisition solution for MTS Solutions, an oil field service company headquartered in Bakersfield, California. MTS has been providing well stimulation services in California for over 30 years, maximizing production for clients using both traditional and green products. Data Acquisition Operations Engineer Kevin England explains, "We're a small business 25-man crew, as opposed to a multi-national company, so we needed a cost-effective monitoring solution for our jobs that still had the advanced functionality our customers require."
Baker Hughes announced that the Baker Hughes Rig Count for the U.S. is down 8 rigs from last week to 934, with oil rigs down 6 to 764, gas rigs down 2 to 169, and miscellaneous rigs unchanged at 1. This is the tenth straight week that the American rig count has declined,
Single Phase Power Solutions, the world's only manufacturer of high horsepower single phase electric motors, match their motors to a pump to provide instant productivity. Available from 30 to 100 HP these single phase pump solutions are easily installed by simply connecting to available single phase utility power - they do not require a phase converter or Variable Frequency Drive (VFD). The company incorporates their Belle Single-Phase MotorT which uses Written-PoleR technology to power standard suction end centrifugal pumps, rotary gear pumps, and turbine pumps in both horizontal and vertical configurations. These pump solutions are ideal for irrigation, drinking water distribution, well pumps, aquifer management, water treatment, wastewater pumping, wastewater collection, wastewater treatment and discharge, and other water and wastewater processing applications. With expertise in pump systems design and manufacture, Single Phase Power Solutions team helps determine the correct materials and style of pump to suit specific application requirements.
In its second quarter financial results, AltaGas Canada Inc. announced that the business is maintaining a strong position and will continue to move forward with growth programs in the near future.
KROHNE, Inc. announces PipePatrol, a comprehensive suite of software modules for long or short distance single and multiproduct pipelines for oil, gas, water, chemical or refined products offers monitoring and protection of pipelines in all operating conditions.
Baker Hughes, a GE company announced that the Baker Hughes international rig count for July 2019 was 1,162, up 24 from the 1,138 counted in June 2019, and up 165 from the 997 counted in July 2018. The international offshore rig count for July 2019 was 255, up 9 from the 246 counted in June 2019, and up 38 from the 217 counted in July 2018.
Superior Industries, Inc., the U.S. based manufacturer and global supplier of bulk material processing and handling systems, has announced a new partnership with Canada's largest distributor of conveyor belting, components and other bulk material handling solutions. Belterra, a 50-year-old distributor with 19 locations throughout the country, will stock, sell and service Superior's conveyor idlers, pulleys, scrapers and accessories in Quebec.
Motive Offshore Group, specialists in marine equipment fabrication and rental, has announced the launch of Motive Personnel - a division specifically created to provide offshore technicians to its global customer base.
Abrado Wellbore Services, the specialist global, expandable section milling plug and abandonment service technology company, has secured a multi-million dollar contract from Chevron's Environmental Management Company to support the plug and abandonment (P&A) of more than 30 wells offshore California.
Baker Hughes announced that the Baker Hughes Rig Count for the U.S. is down 4 rigs from last week to 942, with oil rigs down 6 to 770, gas rigs up 2 to 171, and miscellaneous rigs unchanged at 1.
TC PipeLines, LP reported net income attributable to controlling interests of $55 million and distributable cash flow of $70 million for the three months ended June 30, 2019.
Iris Automation, Skyfront and Echodyne power first ever beyond-visual-line-of-sight drone flight without human visual observers
The University of Alaska's Unmanned Aircraft Systems Integration Pilot Program (UASIPP) has conducted the first ever beyond-visual-line-of-sight (BVLOS) drone operation without visual observers, an industry milestone powered by Iris Automation's on-board, and Echodyne's ground-based, detect-and-avoid systems integrated onto a Skyfront Perimeter UAV.
MEG Energy announces record $195 million free cash flow, $285 million debt repayment and new 5-Year credit facility
MEG Energy Corp. has reported its second quarter 2019 operational and financial results. The company reported a record free cash flow of $195 million for the quarter, a solid production level and good movement towards its yearly targets.
Canadian Natural has announced its second quarter results for 2019, with the company stating its diverse, balanced asset base plus flexible capital allocation helped an adjusted funds flow of approximately $2.7 billion.
Mammoet has announced its intentions to acquire ALE. Both companies are specialists in engineered heavy lifting and transport for sectors such as the petrochemical industry, renewable energy, power generation, civil construction and the offshore industry.
The Petroleum Services Association of Canada (PSAC), in its third update to its 2019 Canadian Drilling Activity Forecast, announced that it is decreasing its forecasted number of wells to be drilled (rig released) across Canada for 2019 from 5,300 (May 2019 revision) to 5,100 wells drilled. PSAC based its updated 2019 Forecast on average natural gas prices of $1.60 CDN/Mcf (AECO), crude oil prices of US$57.00/barrel (WTI) and the Canada-US exchange rate averaging $0.76.
Encana Corporation has announced its second quarter 2019 financial and operating results, reporting solid production increases and continued movement in repurchasing of its common shares, among other highlights.
The National Energy Board (NEB) has determined that the Coastal GasLink Pipeline Project (Project) does not fall within its jurisdiction. The Project does not form a part of the NOVA Gas Transmission Ltd. (NGTL) System, and is not vital or integral to it (NGTL), or any other federally regulated pipeline.
The Joint Review Panel established to review the Frontier Oil Sands Mine Project, proposed by Teck Resources Limited (the proponent), has submitted its report to the Minister of Environment and Climate Change. The review was completed in accordance with the Agreement to Establish a Joint Review Panel for the Frontier Oil Sands Mine Project, issued on May 19, 2016 and amended on August 24, 2017.
The Petroleum Services Association of Canada (PSAC) has announced that its "PSAC Working Energy Golf Classic", powering Canadian energy and education and raising funds for awareness and education, raised over $39,000 thanks to the generosity of energy industry companies, employees, their guests, and the numerous sponsors whose livelihoods depend on the health of the industry. The sold-out event took place July 24 at the Inglewood Golf & Curling Club.
Cenovus Energy Inc. reduced net debt to $7.1 billion in the second quarter after generating over $830 million in free funds flow. The company's excellent financial performance was driven by higher realized oil prices, which contributed to oil sands operating margin of more than $1.0 billion.
Husky Energy generated funds from operations of $802 million in the second quarter, with net earnings of $370 million. Cash flow from operating activities, including changes in non-cash working capital, was $760 million, compared to $1 billion in Q2 2018.
Suncor has reported strong performance during the second quarter of 2019, despite the ongoing impact of production curtailments in Alberta.
Cuda Oil and Gas Inc. has entered into a series of binding Asset Purchase Agreements to sell all of its oil and gas assets and related liabilities located in the Province of Quebec at a total transaction value of CAD$10.59 million, including cash consideration at closing of CAD $4.29 million, to arm's-length purchasers. The Transaction is anticipated to close on or about August 30, 2019.
Cenovus Energy Inc. has published its 2018 environmental, social & governance (ESG) report detailing the company's progress in advancing environmental, health and safety performance, investing in and engaging with the communities where it operates and maintaining the highest standards of corporate governance. A number of Cenovus's key performance indicators for land, air and water improved last year, partly due to ongoing process improvements and partly due to the sale of the company's legacy conventional assets in 2017 and early 2018.
A major new initiative that adds genomics technologies to traditional geoscience aims to reduce the risk for oil exploration in Nova Scotia's offshore.
The NEB has decided how regulatory processes for the Trans Mountain Expansion Project (Project) will continue, including detailed route and condition compliance processes.
Messer highlights new "Huff 'N Puff" treatment to recharge well stimulation at the Unconventional Resources Technology Conference 2019
At URTeC 2019, Messer is highlighting its RECHARGE HNP, or "Huff ‘n Puff," technology, a proven solution for well production enhancement. Ideal for re-stimulating depleted oil and gas wells, the energized RECHARGE HNP treatment combines the proven enhanced recovery properties of carbon dioxide (CO2) or nitrogen (N2) with the latest in advanced nanoparticle technology from Nissan Chemical. URTeC takes place July 22 – 24 in Denver.
Suncor has released its annual Report on Sustainability which details the company's environmental, social and economic performance. Suncor's perspective on the challenges and opportunities of climate change, and the transition to a low-carbon economy are contained in its third Climate Risk and Resilience Report available within the Report on Sustainability and as a stand-alone downloadable PDF. The annual Report on Sustainability is available both online and as a downloadable PDF.
The ability of Canada's energy sector to attract investment has been weakened by several government policies in recent years, all the while investment in the United States has soared, finds a new collection of essays released today by the Fraser Institute, a Canadian policy think-tank.
FortisBC has entered into its first term supply agreement to produce liquefied natural gas (LNG) for Top Speed Energy Corp. to export to China. This term supply agreement is an unprecedented development in Canada's LNG export industry and was made possible by the completion of the Tilbury LNG expansion project in Delta, B.C. earlier this year.
The Canadian Environmental Assessment Agency (the Agency) must decide whether a federal environmental assessment is required for the proposed Kitimat LNG Expansion Project, located at Bish Cove, near Kitimat, British Columbia.
Canada's Oil Sands Innovation Alliance (COSIA) is pleased to announce the appointment of Wes Jickling as the organization's next Chief Executive, effective August 6, 2019. The appointment aligns with COSIA's updated strategic plan, focused on accelerating environmental performance through collaborative action and innovation, while sharing its story with Canadians and beyond.
Encana Corporation wholly owned subsidiary Newfield Exploration Mid-Continent Inc. has signed an agreement to sell its natural gas assets in Oklahoma's Arkoma Basin to an undisclosed buyer. Total cash consideration to Encana under the transaction is $165 million. The agreement is subject to ordinary closing conditions, regulatory approvals and other adjustments and is expected to close in the third quarter of 2019.
Campaigns that attack Alberta's energy interests will be investigated through a public inquiry launched by the provincial government.