The firm, North America's No.1 producer of coking coal, said the boost in profit was mainly thanks to the reversal of an impairment charge related to an improvement in the outlook for steelmaking commodity.
Alberta Mining News
Canada's largest energy producer also buys into Norwegian Sea oil project.
Over the next six years, the company expects to deploy more than 150 autonomous haul trucks in the full program, which will be one of the largest investments in electric autonomous vehicles in the world.
Project is on track to reach 90% of capacity — or 194,000 barrels per day — by the end of the year.
Company said having route approval in Nebraska and the necessary commercial support for the pipeline brings it closer to a final investment decision.
The company's CEO said they are moving closer to their goal of producing 20,000 barrels per day at Orion.
Agreement aims at boosting the safety of twin pipelines beneath the waterway where Lakes Huron and Michigan converge.
State has approved controversial project but insisted on alternative route, could add further complications.
Steve Williams, chief executive officer at Suncor, today announced the appointment of Mark Little, currently president, Upstream, as chief operating officer (COO).
Suncor and PetroNor today announced the purchase by Suncor of a 41% equity interest in PetroNor, a petroleum products distributor across the James Bay and Abitibi-Témiscamingue regions of Quebec.
Company lost $69 million in its latest quarter as it more than doubled its production compared with a year ago.
Pourbaix replaces Brian Ferguson, who announced his retirement earlier this year following Cenovus’ $17.7 billion acquisition of oil sands and natural gas assets from ConocoPhillips.
Canada’s oil sands producers are stuck in a rut.
After sending court bailiffs to seize property from Stand.earth, Enbridge backed off, saying it will not seize property after all.
Sherritt pleaded guilty in the Provincial Court of Alberta to three counts of contravening the Fisheries Act.
Two things helped make Alberta’s oilsands a top North American environmental concern — ducks and trucks.
CEO Patrick Pouyanne said the company’s priority was "value over volume", adding that oil sands were among the high breakeven projects in Total's portfolio.
The sale of the Suffield assets to to International Petroleum Corporation is expected to close before the end of the year.
A report by the Centre for International Governance Innovation argues the global push to reduce carbon emissions over the next three decades will reduce the size of future oil markets.
All three projects are now over 95% built and transitioning into start up.
Western Canada's conventional energy producers are looking to step out of the long shadow cast by the oil-sands sector to tout the economic and environmental benefits of light oil and natural gas development.
The energy sector accounts for a significant part of Canada’s prosperity. The industry is the single largest private sector investor, employing more than 425,000 people.
Another $30 million will go to help fund 12 projects that tackle methane emissions in the province.
The study found Canada's oil sands had a substantial impact on Quebec's economy in terms of employment, gross domestic product (GDP) and tax revenue, in a 12-month period between 2014 and 2015.
News come as the Calgary-based firm is trying to win over investors upset by its $17.7-billion acquisition of oil sands and natural gas assets from ConocoPhillips Co.