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A couple of key questions loom for Canadian oil and gas producers as they pump out strong first-quarter results and crude prices crest above US$65 a barrel.
What will companies do with the additional cash flowing into their coffers and what steps will they take to curb greenhouse gas emissions as investors, governments and the public sharpen their focus on ESG issues?
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Try refreshing your browser, or Varcoe: More Canadian producers aim for net-zero emissions, eye more spending as oil tops $65 Back to video
Vermilion Energy, a mid-sized producer that operates around the world, answered both questions at its annual meeting this week.
Article content
A couple of key questions loom for Canadian oil and gas producers as they pump out strong first-quarter results and crude prices crest above US$65 a barrel.
What will companies do with the additional cash flowing into their coffers and what steps will they take to curb greenhouse gas emissions as investors, governments and the public sharpen their focus on ESG issues?
We apologize, but this video has failed to load.
Try refreshing your browser, or Chris Varcoe: More Canadian producers aim for net-zero emissions, eye more spending as oil tops $65 Back to video
Vermilion Energy, a mid-sized producer that operates around the world, answered both questions at its annual meeting this week.
The updated forecast is based on a stronger commodity price outlook for 2021 with PSAC now expecting the West Texas Intermediate (WTI) crude oil price to average US$58/barrel for 2021, natural gas prices of C$2.75 per thousand cubic feet (AECO) and the Canadian dollar slightly stronger, averaging US$0.80. PSAC interim president & CEO Elizabeth Aquin commented: Global demand for oil is expected to recover and grow with the ramp-up in vaccinations despite harsh restrictions to counter the third wave of COVID-19 currently wreaking havoc on several key markets around the globe. “According to Platts Analytics, oil demand is expected to reach 102.6 million b/d (barrels per day) by the fourth quarter of this year, the highest since Q4 2019 when it averaged 103.9 million b/d.
Canada s oilpatch workforce faces more cuts this year before rebound in 2022-23, PetroLMI says theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.