DIRS.INFO The most relevant business & tech news

At least 300,000 barrels of oil equivalent per day (boepd) production was shut in last week in Alberta. Also supporting oil prices, the U.S. could start repurchasing oil for the Strategic Petroleum Reserve (SPR) after completing a congressionally mandated sale in June, Energy Secretary Jennifer Granholm told lawmakers on Thursday. Global crude supplies could also tighten in the second half as OPEC+ - the Organization of the Petroleum Exporting Countries and allies including Russia - plan additional output cuts. Fears of a slowdown in the global economy limited gains in oil prices. "If credit conditions ease over the coming months, allaying economic fears for the world's largest economy, oil prices could bounce back without assistance but it seems a little premature at this point," said OANDA analyst Craig Erlam.

☆ Record-breaking heat scorches the western US and Canada as wildfires continue to rage
▼ + stars: | 2023-05-15 | by ( Jennifer Gray | ) edition.cnn.com time to read: +4 min

Record-breaking temperatures and a heat wave will continue to grip the entire region through much of this week. It has prompted heat alerts for more than 10 million people across the Pacific Northwest and portions of Central California. As the heat continues to build this week, nearly 150 high temperature records will be in jeopardy across the West. Environment Canada has issued heat warnings for northern portions of Alberta and portions of British Columbia, where high temperatures are forecast to reach the mid 80s. Alberta Wildfire/Handout/ReutersThe heat is also having a huge effect on Canada’s active start to the fire season.

☆ Canada PM Trudeau visits Alberta as wildfires rage
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +3 min

[1/4] Smoke rises from the Paskwa Wildfire (HLW030) as it burns near the Wood Buffalo National Park boundary outside Fox Lake, Alberta, Canada May 14, 2023. The first 11 days of May have set seasonal heat records in several parts of Alberta, including Edmonton, according to Environment and Climate Change Canada. By Sunday afternoon, 89 fires were burning across Alberta, with 25 considered out of control and more than 19,000 evacuees. "Our peak burning period, which is when the temperatures are at their highest and the fuels are at their driest, is still in front of us," Alberta Wildfires official Josee St-Onge said at a briefing Sunday afternoon. "It's too soon to say when we're going to see the peak of this wildfire season.

☆ Pacific Northwest Starts Sizzling Under Heat Dome
▼ + stars: | 2023-05-14 | by ( Ginger Adams Otis | ) www.wsj.com time to read: 1 min

Wildfires erupted in the western Canadian province of Alberta earlier than usual this season. Photo: Government of Alberta Fire Service/Associated PressMore than 12 million people across the Pacific Northwest are under a weekend heat advisory as unseasonably high temperatures as high as the 90s take hold across the region. A heat dome created by a high pressure area could raise temperatures at least 20 degrees above normal and may worsen wildfires in western Canada, according to the National Weather Service Weather Prediction Center.

OTTAWA, May 13 (Reuters) - Canada's main oil-producing province of Alberta faces another hot and dry weekend, with warnings of more intense wildfires after blazes forced thousands to evacuate homes and temporarily shuttered energy production. Residents forced to evacuate early this month say they are frustrated with the indefinite displacement. "We are expecting hot and dry conditions in most of the province, which will make the wildfire danger climb," Alberta Wildfire official Josee St-Onge told a briefing on Friday. Recent cooling and rain helped firefighters tackle some blazes and restored most of the energy production, but expectations of rising weekend temperatures have fanned worries. On Friday, the town of Drayton Valley told residents in a Facebook post that they should expect to be out of their homes "at least another week."

The data defied expectations from eight analysts polled by Reuters for a 900,000-barrel drawdown in crude inventories and a 1.2 million-barrel drop in gasoline stocks. U.S. government data on oil inventories is due on Wednesday. Media reported that Russia's Energy Ministry said the nation's oil output reduction almost reached targeted levels in April. Saudi Arabia, which pledged to cut production by 500,000 bpd from May, has informed buyers in Asia that it will supply full crude oil volumes requested for June. The wildfires forced oil and gas producers to shut in at least 319,000 barrels of oil equivalent per day (boepd), or 3.7% of the country's production.

Brent crude dropped 16 cents to $77.28 a barrel at 0008 GMT, while U.S. West Texas Intermediate (WTI) crude dipped 20 cents to $73.51, paring gains from the previous session. In a possible sign of weakening demand, U.S. crude inventories rose by about 3.6 million barrels in the week ended May 5, while gasoline stockpiles rose by 399,000 barrels, the American Petroleum Institute reported on Tuesday according to market sources. The data defied expectations from eight analysts polled by Reuters for a 900,000-barrel drawdown in crude inventories and a 1.2 million-barrel drop in gasoline stocks. U.S. government data on oil inventories is due on Wednesday. The wildfires forced oil and gas producers to shut in at least 319,000 barrels of oil equivalent per day (boepd), or 3.7% of the country's production.

☆ Oil recoups losses on plans for SPR refill, higher seasonal demand
▼ + stars: | 2023-05-09 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

Companies Bank of America Corp FollowTOKYO, May 9 (Reuters) - Oil prices ticked up on Tuesday, reversing a more than 2% drop earlier in the session, as markets weighed U.S. government's plans to refill the nation's emergency oil reserve and anticipated higher seasonal demand. Brent crude settled 43 cents, or 0.6% higher, at $77.44 a barrel, while U.S. West Texas Intermediate (WTI) crude closed up 24 cents, or 0.3%, at $73.39. Biden administration plans to begin purchasing oil to replenish the Strategic Petroleum Reserve helped cover speculative short positions, said Robert Yawger, executive director of energy futures at Mizuho. A report from the Energy Information Administration (EIA) pointing to higher seasonal demand and lower-than-expected output also supported prices. "We expect the seasonal rise in oil consumption and a drop in OPEC crude oil production to put some upward pressure on crude oil prices in the coming months," the Energy Information Administration said in its Short-Term Energy Outlook.

☆ Oil prices ease in cautious trade ahead of US inflation data
▼ + stars: | 2023-05-09 | by ( Emily Chow | ) www.reuters.com time to read: +2 min

TOKYO, May 9 (Reuters) - Oil prices fell on Tuesday, relinquishing some of the strong gains of the previous two sessions with the market cautious ahead of U.S. inflation figures for April, which will be key to the Federal Reserve's next interest rate decision. "Oil prices have rebounded somewhat in the last two sessions, so now is time for a pause ... with no real positive data coming out," said Suvro Sarkar, lead energy analyst at DBS Bank. "The market is cautious today ahead of the inflation data.... With net long positions declining sharply over the last two weeks, a lot of traders are already out of the market, so volumes are low." "If tomorrow's CPI data remains at around 5% by market consensus, and if the core CPI does not drop significantly, it will likely continue to support the rise in oil prices," said CMC Markets analyst Leon Li. While oil markets fell sharply last week, prices rose on Friday and Monday as fears of recession eased in the U.S., the world's biggest oil consumer, and some traders saw crude's three-week slide on demand worries as overdone.

TOKYO, May 9 (Reuters) - Oil prices fell on Tuesday, relinquishing some of the strong gains in the previous two sessions while the market remained cautious ahead of U.S. inflation figures for April, which will be key to the Federal Reserve's next interest rate decision. "Oil prices have rebounded somewhat in the last two sessions, so now is time for a pause ... with no real positive data coming out," said Suvro Sarkar, lead energy analyst at DBS Bank. "The market is cautious today ahead of the inflation data.... With net long positions declining sharply over the last two weeks, a lot of traders are already out of the market, so volumes are low." While oil markets fell sharply last week, prices rose on Friday and Monday as fears of recession eased in the U.S., the world's biggest oil consumer, and some traders saw crude's three-week slide on demand worries as overdone. "Oil prices won't be able to rise that much from here given all the growth demand fears, but expectations are high for OPEC+ to try to keep prices above the $70 a barrel level," Moya's note said.

☆ Oil prices dip in cautious trade ahead of U.S. inflation data
▼ + stars: | 2023-05-09 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

TOKYO, May 9 (Reuters) - Oil prices fell in early trade on Tuesday, paring strong gains from the previous two sessions as markets remain cautious ahead of U.S. inflation figures for April which will be key to the Federal Reserve's next interest rate decision. Markets are awaiting U.S. consumer price inflation figures for April due on Wednesday to provide some indication on the U.S. central bank's next rate decision. U.S. consumers said last month they expected slightly lower inflation in a year's time, a report showed on Monday. While oil markets fell sharply last week, prices rose on Friday and Monday as fears of recession in the U.S., the world's biggest oil consumer, eased and some traders saw crude's three-week slide on demand worries as overdone. "Oil prices won't be able to rise that much from here given all the growth demand fears, but expectations are high for OPEC+ to try to keep prices above the $70 a barrel level," Moya's note said.

CALGARY, Alberta — Judy Greenwood did not want to leave. In much of the western province of Alberta, this time of year has long been wildfire season. As of Tuesday after, about 24,000 people were out of their homes in the sparsely populated, largely northern areas of the province as 88 active wildfires were burning across nearly one million acres. There have already been 412 fires this season — which typically runs from March 1 to Oct. 31 — an unusually high number. And for residents of vulnerable areas, that has evoked uneasy memories of 2016, when raging flames moved from the forest into the oil sands capital of Fort McMurray, Alberta.

☆ Cooler temperatures offer temporary reprieve for Alberta wildfires
▼ + stars: | 2023-05-09 | by ( Nia Williams | ) www.reuters.com time to read: +2 min

May 9 (Reuters) - Wildfires in Canada's main oil-producing province Alberta eased on Tuesday thanks to cooler weather, but thousands of people remained under evacuation orders and officials warned temperatures were expected to rise in coming days. The wildfires also forced oil and gas producers to shut in at least 319,000 barrels of oil equivalent per day (boepd), or 3.7% of the country's production. Officials said firefighters had made progress in southern and central Alberta where cooler temperatures and higher humidity slowed the blazes. The fire danger remains high in many parts of northern Alberta and the province is forecast to have high temperatures return by the end of this week. "We are not expecting the kind of winds we saw last week ... but certainly we are not taking it for granted," said Christie Tucker, information unit manager for Alberta Wildfire.

☆ Canada's Cenovus Energy shuts down some production due to Alberta wildfire
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

Companies Cenovus Energy Inc FollowMay 8 (Reuters) - Canada's Cenovus Energy Inc (CVE.TO) said on Monday it has shut down production plants in some areas of its conventional business, due to wildfires in Alberta. The company added that production of about 85,000 barrels of oil equivalent per day has been impacted in Cenovus' Rainbow Lake, Kaybob-Edson, Elmworth-Wapiti and Clearwater operating areas. Cenovus, one of Canada's top energy producers, said it was working with provincial and municipal agencies to support efforts and staff in the area. The company added that its 2023 production outlook remains unchanged. Canada's main oil-producing province Alberta on Saturday declared a provincial state of emergency due to wildfires.

☆ Alberta wildfire shuts in at least 2% of Canadian energy production
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +4 min

It added that about 50,000 boepd of production has been temporarily curtailed since the evening of May 5. Crescent Point Energy Corp (CPG.TO)Crescent Point said about 45,000 boepd of production in the Kaybob Duvernay region has been temporarily shut in with a plan to restart production once safe and permitted to do so. NuVista Energy Ltd (NVA.TO)The company said it has temporarily shut in and depressured all operations proximal to the ongoing fires in the Grande Prairie region. Vermilion Energy Inc (VET.TO)Vermilion Energy said it had temporarily shut in about 30,000 boepd of production and that it was assessing the risk to its operations. Cenovus Energy Inc (CVE.TO)Cenovus said it has shut-in production and brought plants down in some areas of its conventional business.

☆ Factbox: Alberta wildfire shuts in at least 145,000 boepd of Canadian production
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +2 min

May 8 (Reuters) - Canada's main oil-producing province Alberta on Saturday declared a provincial state of emergency due to wildfires, shutting in at least 145,000 of oil equivalent per day (boepd). Tens of thousands of Albertans have been forced to evacuate their homes as unprecedented wildfires rage on in Alberta. It added that about 50,000 boepd of production has been temporarily curtailed since the evening of May 5. Crescent Point Energy Corp (CPG.TO)Crescent Point said about 45,000 boepd of production in the Kaybob Duvernay region has been temporarily shut in with a plan to restart production once safe and permitted to do so. Vermilion Energy Inc (VET.TO)Vermilion Energy said it had temporarily shut in about 30,000 boepd of production and that it was assessing the risk to its operations.

☆ Alberta issues emergency alert for four armed, dangerous suspects
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, May 8 (Reuters) - The Canadian province of Alberta issued an emergency alert on Monday for the area of Sunchild and O'Chiese First Nations due to four "armed and dangerous" individuals in that area. The alert was issued at 1:17 PM (7:17 GMT)and is expected to end on Tuesday. The Royal Canadian Mounted Police in Alberta said it was investigating multiple firearms complaints in the Sunchild and O'Chiese First Nations and asked residents to shelter in place. "RCMP are actively looking for 4 suspects, 2 of which are identified as 28-year-old Colin Beaverbones and 25-year-old Boyd Beaverbones. These suspects are considered armed and dangerous.

☆ Thousands Evacuated as Wildfires Spread Across Alberta, Canada
▼ + stars: | 2023-05-08 | by ( ) www.wsj.com time to read: 1 min

Lawmakers Fight for Child Vloggers to Be CompensatedFor children who appear in monetized content online, like vlogs and social media posts, there are currently no laws to protect them or ensure they get a cut of the money they help earn. Now, some state lawmakers are fighting to change that. Tech News Briefing producer Zoe Kuhlkin joins host Zoe Thomas to explain why Illinois may be the first state to cross the finish line. Photo: Getty Images

TORONTO, May 8 (Reuters) - Canada's oil and gas producers shut down some production after Alberta was hit by an unprecedented wildfire season, although rain and cooler weather are expected to bring some relief on Monday. Canada is home to the world's third-largest reserves, and most of these are in northern Alberta's vast oil sands. NuVista Energy (NVA.TO) said on Monday it had temporarily shut in about 40,000 boepd as a precaution. In neighboring British Columbia, several communities remained under evacuation orders after heavy rain last week and flood warnings stayed in place. ($1 = 1.3319 Canadian dollars)Reporting by Denny Thomas; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ More than 13,000 Are Evacuated as Wildfires Burn in Western Canada
▼ + stars: | 2023-05-06 | by ( Mike Ives | ) www.nytimes.com time to read: 1 min

More than 13,000 people have been evacuated from the western Canadian province of Alberta as dozens of wildfires burn there, officials said on Friday. About 78 active wildfires were burning across the province as of Friday morning, and 19 of them were classified as “out of control,” Stephen Lacroix, the managing director of the Alberta Emergency Management Agency, said at a news conference on Friday morning in Edmonton, the provincial capital. He called the situation “evolving and extremely fluid.”By late Friday evening, the website of the province’s wildfire agency showed that the number of active wildfires had grown to more than 100, more than a third of them out of control. A spokeswoman for the Alberta government declined to comment on Friday night, referring a reporter to the province’s website and social media pages.

☆ More than 24,000 people evacuated in Western Canada as 103 wildfires burn
▼ + stars: | 2023-05-06 | by ( Mirna Alsharif | ) www.cnbc.com time to read: +4 min

Over 24,000 residents throughout Western Canada have been ordered to evacuate their homes to escape active wildfires in the province of Alberta. Smith activated the Emergency Management Cabinet Committee in response to the wildfires, which has been meeting daily since Friday. All options are on the table, including declaring a provincial state of emergency, Smith added. Fourteen counties and communities have declared states of local emergency, including Brazeau, Grande Prairie, Parkland and Lac Ste. Anne counties, as well as the Beaver Lake Cree Nation.

☆ Thousands of Albertans evacuated in "unprecedented" wildfire situation
▼ + stars: | 2023-05-06 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

ET), 24,511 Albertans were evacuated from homes with 103 active wildfires across the province, burning 121,909 hectares. "I don't know that I ever recall seeing multiple communities evacuated all at once in fire season," said Smith. So far this year, there have been 43,000 hectares burned from wildfires, Smith said. "It is very unusual for us to see this much fire activity this early in the season," said Christie Tucker, an information unit manager for Alberta Wildfire. "This is a much much busier than average wildfire season so far."

☆ Fire and flood: Record spring heat forces evacuations across western Canada
▼ + stars: | 2023-05-05 | by ( Nia Williams | ) www.reuters.com time to read: +1 min

May 5 (Reuters) - A week of record hot weather in western Canada has forced thousands of people to evacuate their homes, as wildfires rage in parts of Alberta and rapid snow melt triggers flooding across interior British Columbia. Until last week western Canada had been enduring a cold spring but the rapid onset of unseasonably high temperatures, in places 10C above the average for early May, is triggering both fires and flooding. In British Columbia, the flooding is expected to worsen over the weekend with heavy rain forecast across the south of the province. "Peak river levels are expected on Saturday through Monday," British Columbia's River Forecast Centre said in a flood warning issued late Thursday. Reporting by Nia Williams in British Columbia; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

May 4 (Reuters) - Canada's Enbridge Inc (ENB.TO) said on Thursday it has reached a 7-1/2-year toll agreement with oil shippers for its Mainline crude pipeline system, one of North America's biggest, after scrapping earlier plans for long-term contracts. The agreement means that, if approved, Enbridge would continue to ration space on a monthly basis. Enbridge spent years trying to convince shippers and then the Canada Energy Regulator (CER) to sell space on the Mainline under long-term contracts. Some Canadian oil producers objected, while companies with refineries were in favor of contracts. The new agreement covers 70% of Mainline deliveries, with the remaining 30% covered by a pre-existing agreement.

Search resuls for: "alberta"

25 mentions found