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As Canadian oilsands production has rebounded and even climbed above pre-pandemic levels, another area of the industry is also picking up steam: crude-by-rail shipments.
Cenovus Energy reported Tuesday that after suspending all such shipments earlier last year following the pandemic and an historic oil-price collapse it exited December transporting almost 28,000 barrels of oil per day (bpd) by train.
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The Calgary-based company also moved another 10,000 bpd for other companies through its facilities, Cenovus said in its fourth-quarter earnings report.
/EIN News/ CALGARY, Alberta, Feb. 10, 2021 (GLOBE NEWSWIRE)
This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. This news release contains references to Adjusted EBITDA, Covenant EBITDA, Operating Earnings (Loss), Funds Provided by (Used in) Operations and Working Capital. These terms do not have standardized meanings prescribed under International Financial Reporting Standards (IFRS) and may not be comparable to similar measures used by other companies, see “Non-GAAP Measures” later in this news release. Amounts presented are in Canadian dollars, unless otherwise stated.
International Petroleum meets year-end projections despite bumpy road in 2020
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International Petroleum Corp. wound up meeting original year-end production targets in 2020, and remained cash positive in a rocky year that saw curtailments and plunging revenue as oil prices were rocked in the spring.
The global producer, with major operations centred at Suffield, said Tuesday in its year-end financial report it is maintaining discipline as prices improve.
“2020 was certainly the year when we were called upon to face unprecedented challenges,” said CEO Mike Nicholson. “IPC believes that we are very well positioned to benefit from the recovery.”
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iPolitics By iPolitics. Published on Feb 8, 2021 12:20pm Wind energy
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Shell and Eneco, two Dutch-based energy firms, announced they have agreed to power Amazon’s European facilities with renewable energy. The energy supply will be generated by the Hollandske Kust Noord wind farm, which is being constructed off the coast of the Netherlands by the two energy companies. Starting in 2024, Amazon will off-take 380 megawatts of capacity from Hollandske Kust Noord.
Eneco will provide 130 megawatts while Shell will provide 250 megawatts, Shell said in a statement. Hollandse Kust Noord will have a total capacity of 759 megawatts and is scheduled to generate at least 3.3 terawatt hours per year, starting in 2023, according to Eneco.