• 4 hours Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 8 hours Russia, Saudis Team Up To Boost Fracking Tech
  • 14 hours Conflicting News Spurs Doubt On Aramco IPO
  • 15 hours Exxon Starts Production At New Refinery In Texas
  • 17 hours Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 1 day Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 1 day Oil Gains Spur Growth In Canada’s Oil Cities
  • 1 day China To Take 5% Of Rosneft’s Output In New Deal
  • 2 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 2 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 2 days Enbridge Pipeline Expansion Finally Approved
  • 2 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 2 days OPEC Oil Deal Compliance Falls To 86%
  • 2 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 3 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 3 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 3 days Aramco Says No Plans To Shelve IPO
  • 5 days Trump Passes Iran Nuclear Deal Back to Congress
  • 5 days Texas Shutters More Coal-Fired Plants
  • 6 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 6 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 6 days Chevron Quits Australian Deepwater Oil Exploration
  • 6 days Europe Braces For End Of Iran Nuclear Deal
  • 6 days Renewable Energy Startup Powering Native American Protest Camp
  • 6 days Husky Energy Set To Restart Pipeline
  • 6 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 7 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 7 days India Needs Help To Boost Oil Production
  • 7 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 7 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 7 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 7 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 8 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 8 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 8 days Chinese Teapots Create $5B JV To Compete With State Firms
Finally: A Way To Invest In Blockchain

Finally: A Way To Invest In Blockchain

Cryptocurrencies and the blockchain are…

Canada Needs One Oil Pipeline Regulator: Panel

Canadian Flag

A four-member panel set up last year by Canada’s Environment Minister has said that the country needs a single body to assess new oil pipeline and mining projects, to replace the current system where three separate agencies make decisions about such projects on federal land.

The Liberal government of Canada says people don’t trust the three-agency system and are especially suspicious of the decisions made by the National Energy Board – Canada’s energy regulator and the agency that vets or rejects new oil pipeline projects. According to the panel, there was a feeling that the NEB tended to decide in favor of the energy industry.

The panel recommended the setting up of a single Impact Assessment Authority that would handle energy and mining projects with more attention given to aboriginal communities’ interests and the long-term impacts of any one project.

There is wide opposition in Canada against new pipeline projects, but even a government as liberal as Justin Trudeau couldn’t deny the fact that the country’s existing pipeline network is operating at capacity while crude oil output is rising, as Oilprice reported last September.

This development is putting Canadian oil at risk: as pipeline capacity reaches its maximum, more oil will have to start being transported by railway. The bad news for these producers is that railway transportation of crude is costlier than pipelines, and they will have to increase the discount at which they sell their oil.

Conventional oil production in Canada is declining, and the biggest hopes for the revival of the country’s embattled energy industry are pinned on the oil sands. But Alberta is landlocked, so the heavy crude extracted there needs either pipelines to reach a coast or the U.S. refineries, or railways. This is where oil producers in the oil sands province find themselves between a rock and a hard place.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News