• 6 minutes Corporations Are Buying More Renewables Than Ever
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 23 minutes Starvation, horror in Venezuela
  • 9 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 2 days Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 1 day Renewable Energy Could "Effectively Be Free" by 2030
  • 1 day Saudi Fund Wants to Take Tesla Private?
  • 2 hours China goes against US natural gas
  • 2 days Mike Shellman's musings on "Cartoon of the Week"
  • 2 days Venezuela set to raise gasoline prices to international levels.
  • 2 days The Discount Airline Model Is Coming for Europe’s Railways
  • 2 days Pakistan: "Heart" Of Terrorism and Global Threat
  • 2 days Are Trump's steel tariffs working? Seems they are!
  • 9 hours Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 3 days Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 1 day Why hydrogen economics does not work
Nord Stream 2 Clears Another Hurdle

Nord Stream 2 Clears Another Hurdle

Russia’s controversial Nord Stream 2…

WTI Set For Longest Weekly Losing Streak Since 2015

WTI Set For Longest Weekly Losing Streak Since 2015

West Texas Intermediate crude was…

Canadian Oil Sands Region Evacuated As Massive Wildfire Rages

A huge fire is sweeping through Canada’s oil sands region in Fort McMurray, Alberta, already having destroyed an entire neighborhood and forcing 80,000 people to flee.

The fire started in Fort McMurray on Sunday and spread quickly to the outskirts, prompting what is being categorized as the largest wildfire evacuation mission in the history of Alberta.

Related: This Data Shows The Shale Debt Crisis Is Hitting Record Levels

This city is the focal point of the Canadian oil sands industry in Alberta, which is home to the third largest oil reserves in the world.

The uncontrolled wildfire has forced a mandatory evacuation for the entire city, due to rapid spreading, and the routes in and out of the city’s south are blocked. The authorities are directing evacuees to the north.

In the meantime, hot and dry winds are threatening to worsen the wildfire.

Related: Low Oil Prices? Texas Is Doing Just Fine

According to Canadian media reports, many evacuees are fleeing to oil and gas company work camps in outlying areas, where emergency shelters and services have reportedly been set up.

These camps have been increasingly deserted due to losses of jobs as a result of low oil prices beginning in mid-2014. More than 40,000 oil and gas jobs have been cut in Canada since 2014.

Suncor Energy, whose oil sands operations are closest to Fort McMurray, said its plant was safe, but it was reducing crude production in the region to allow employees and families to reach safety.

Related: Why Iran’s Shale Oil Discovery Won’t Add To The Glut

Shell Canada also said it would open its oil sands camp to evacuees.

CNOOC’s subsidiary, Nexen Energy, also has the Long Lake oil-sands project, close to Fort McMurray. The company has said it was likewise slowing operations in light of the wildfire and the evacuation mandate.

On Wednesday, oil rose above $45 due the reduced output.

By Charles Kennedy of 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