Canada Energy Industry Canada Oil Industry

Canada Oil Dominates U.S. Markets – Companies Cut capital spending

The list of Canadian companies cutting 2020 capital spending plans grew longer Thursday with Paramount Resources Ltd. reducing its budget range to between $185 million and $250 million, compared with earlier guidance for between $350 million and $450 million.

Fellow Calgary-based producer Tamarack Valley Energy Ltd., meanwhile, slashed its 2020 budget to about $100 million from $175 million. @ https://globalnews.ca

Meanwhile, Ultra Cheap Canadian Oil Dominates U.S. Markets. Crude imports from Canada have more than doubled due to the price and refinery operational advantages, the U.S. Energy Information Administration (EIA) said on Thursday.

Crude oil imports from Canada of 3.8 million b/d were more than seven times greater than those from Saudi Arabia (500,000 b/d) and more than six times greater than crude oil imports from Mexico (599,000 b/d). @ https://www.eia.gov

Related posts

Report argues Canada energy industry needs national strategy

News

Canada’s energy sector is working to benefit all Canadians

News

I Love Canadian Oil and Gas Hoodie – is illegal?

News