Alberta oil news now

Here are some recent news articles and updates about the oil industry in Alberta:

Recent News

  1. Oil prices rise as OPEC+ agrees to modest production cut: The price of oil rose on Monday after OPEC+ agreed to a modest production cut, which is expected to support prices and reduce global inventories. (Source: CBC News)
  2. Alberta oil production to decline in 2023: The Alberta government has forecast a decline in oil production in 2023, citing a lack of investment in the industry and a shortage of skilled workers. (Source: Global News)
  3. Suncor Energy to cut 1,900 jobs: Suncor Energy, one of Canada's largest oil companies, has announced plans to cut 1,900 jobs, citing a decline in oil prices and a need to reduce costs. (Source: The Globe and Mail)
  4. Trans Mountain pipeline expansion project delayed: The Trans Mountain pipeline expansion project, which would increase the capacity of the pipeline from Alberta to British Columbia, has been delayed due to regulatory issues and opposition from Indigenous groups. (Source: CBC News)

Industry Updates

  1. Cenovus Energy to acquire Husky Energy: Cenovus Energy has announced plans to acquire Husky Energy, a Calgary-based oil company, in a deal worth $23.6 billion. (Source: The Globe and Mail)
  2. Imperial Oil to invest $1.5 billion in Alberta oil sands: Imperial Oil has announced plans to invest $1.5 billion in its oil sands operations in Alberta, which will create 1,000 new jobs. (Source: CBC News)
  3. Alberta government introduces new oil and gas regulations: The Alberta government has introduced new regulations aimed at reducing the environmental impact of the oil and gas industry, including stricter rules on wastewater disposal and methane emissions. (Source: Global News)

Economic Impact

  1. Alberta economy to contract in 2023: The Alberta government has forecast a contraction in the province's economy in 2023, citing a decline in oil prices and a shortage of skilled workers. (Source: CBC News)
  2. Oil and gas industry to account for 10% of Alberta's GDP: The oil and gas industry is expected to account for 10% of Alberta's GDP in 2023, down from 15% in 2019. (Source: The Globe and Mail)
  3. Alberta government to introduce new tax on oil and gas companies: The Alberta government has announced plans to introduce a new tax on oil and gas companies, which will generate an estimated $1.5 billion in revenue per year. (Source: Global News)

I hope this information is helpful!