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GLOBAL

COVID-19 IS AFFECTING EMISSIONS ON A PLANETARY SCALE

As many as 2.6 billion metric tons of carbon dioxide emissions–about 8% of what was the estimated total for the year–will never see the light of day, according to estimates by the International Energy Agency. Pick any world-shaking event from the 20th century–none has produced a bigger drop in man-made pollution.

CRISIS COULD TIGHTEN MATERIAL SUPPLY FOR EV BATTERIES AND CLEAN ENERGY, IEA WARNS

The global coronavirus pandemic could present a major issue for electric cars and clean energy by restricting supplies of materials needed for batteries, solar panels, and wind turbines, the International Energy Agency (IEA) warned.

4 CANADIAN ENERGY FIRMS BLACKLISTED BY WORLD’S LARGEST WEALTH FUND OVER HIGH EMISSIONS

The Norwegian central bank excluded four Canadian oil and gas companies from its $1-trillion wealth fund, the world’s largest, for producing too much greenhouse gas emissions, its first use of carbon emissions as a criterion to blacklist firms.

UNITED STATES

KEYSTONE XL APPROVALS WILL BE RIPPED UP, VOWS U.S. PRESIDENTIAL CANDIDATE JOE BIDEN

Joe Biden’s campaign lobbed a spanner into Alberta’s post-pandemic economic recovery strategy Monday with a promise to rip up U.S. President Donald Trump’s approvals for the Keystone XL pipeline if the former vice-president succeeds in taking over the White House next year.

Swinerton Renewable Energy had everything it needed to build a promising new solar farm in Texas. It lined up more than 2,000 acres for the $109 million project estimated to generate 400 jobs while under construction. But the coronavirus pandemic put everything on hold. The coronavirus crisis is not only battering the oil and gas industry. It’s drying up capital and disrupting supply chains for businesses trying to move the country toward cleaner sources of energy.

NATIONAL

SAUDI WEALTH FUND BUILDS STAKES IN CANADIAN OIL SANDS GIANTS

Saudi Arabia’s sovereign wealth fund built stakes in two major Canadian oil sands players during the energy market rout. The Public Investment Fund amassed shares in Calgary-based Canadian Natural Resources Ltd. and Suncor Energy Inc., with a 2.6% and 2% stake in the companies, respectively.

CANADA'S OIL PRODUCERS NEED CLIMATE TARGETS TO DRAW INVESTMENT, TRUDEAU SAYS

Canada’s oil producers need to set clear targets to fight climate change to continue to attract global capital, Canadian Prime Minister Justin Trudeau said on May 12 as the country’s carbon-intensive oil sands industry faces heightened environmental scrutiny from investors.

CANADA TO BE LENDER OF LAST RESORT FOR BIG COMPANIES LIKE AIRLINES AND OIL PRODUCERS

Canada said it would be the lender of last resort for large employers that need help getting through the economic downturn caused by the novel coronavirus, including those in the hard-hit airline and energy sectors.

IMPERIAL OIL TO GIVE AWAY $2 MILLION IN FREE GAS TO CANADA’S FRONTLINE HEALTHCARE WORKERS

Imperial Oil Ltd. is handing out 80,000 $25 digital vouchers for gas to nurses, paramedics, and doctors providing critical care across Canada. “We owe so much gratitude to those on the front lines who are working long hours helping those in need,” said Imperial chief executive Brad Corson. Enbridge Inc., North America’s largest pipeline operator, is cutting jobs, lowering executive pay, and deferring some capital spending as measures to fight the COVID-19 virus reduce oil flows on its system and slow down construction. About $1 billion of capital spending will be delayed as distancing measures change its construction schedules.

PARKLAND COMPLETES CONOMART SUPER STORES ACQUISITION

Parkland Fuel Corporation (Parkland) announced that through its wholly-owned U.S. subsidiaries (collectively, Parkland USA), it completed the asset agreement to acquire ConoMart Super Stores, first announced in March.

MAY AND BLANCHET DECLARE THE OILPATCH 'DEAD,' WARN OTTAWA AGAINST FINANCIAL SUPPORTS

Canada's oil and gas sector is on the ropes as COVID-19 crushes demand and a global price war pushes domestic companies to the brink of bankruptcy — but two opposition leaders say Ottawa should simply let part of the industry wither and die.

LNG DEVELOPMENT A LIFELINE FOR CANADA’S OIL AND GAS SUPPLY CHAIN: NEW REPORT

The development of a liquefied natural gas (LNG) export industry promises to reverse the growing trend of decreased oil and gas exploration and development spending in Canada, ceating opportunities across the supply chain to put companies back to work or expand operations, finds a newly released report, LNG: Canada’s Supply Chain Opportunities.

WESTERN REGION

ALBERTA STRENGTHENS METHANE GAS REGULATIONS, CLEARING WAY FOR DEAL WITH OTTAWA

Alberta is tightening its methane regulations, bringing it closer to controlling emissions from greenhouse gases, contingent on a review from Ottawa to ensure they meet federally mandated targets.

Construction will soon ramp up on the expansion of the Trans Mountain oil export pipeline, including the installation of pipe in British Columbia where opposition to the project has been loudest.

COVID-19: OUTBREAK DECLARED AT HORIZON OIL SANDS WORK CAMP

Chief medical officer of health Dr. Deena Hinshaw said during her daily update that five cases have been linked to Alberta’s Horizon Oil Sands mine camp, located north of Fort McKay and operated by Canadian Natural Resources Ltd.

FIRST NATIONS WORRIED BY SUSPENSION OF OIL SANDS ENVIRONMENTAL MONITORING

The leader of a First Nation surrounded by oil sands development is frustrated by the Alberta Energy Regulator’s decision to suspend a wide array of environmental reporting requirements.

KEARL LAKE CORONAVIRUS OUTBREAK NOW LINKED TO OVER 100 CASES IN FOUR PROVINCES

An outbreak at a Northern Alberta oil sands site is now linked to more than 100 COVID-19 cases across four provinces, including a remote Dene village in Northern Saskatchewan, further raising fears that the disease could spread like wildfire through work camps that house thousands of oil and gas workers.

GWYN MORGAN: ALBERTA'S TRAGIC NEVERENDING NIGHTMARE WILL ONLY GET WORSE IF OTTAWA DOESN'T ACT

Gwyn Morgan is a retired business leader who has been a director of five global corporations. In this article, Mr. Morgan discusses the critical situation in which most oil producers find themselves in and the federal government’s support that has been offered.

ENBRIDGE CONVERTS IDLED MAINLINE EXPORT SYSTEM PIPELINE FOR CRUDE STORAGE

Analysts say an Enbridge Inc. plan to use an idled leg of its Mainline pipeline system to store surplus Western Canadian oil will help offset lower volumes on the system as U.S. refineries buy less oil to match lower demand. The governments in Ottawa and British Columbia came to an agreement with the chiefs of the Wet’suwet’en and the protests came to an end but the details of that agreement were never made public. The memorandum of understanding was one aimed at offering clarity around the rights and title of the Wet’suwet’en. The hereditary chiefs announced last week that it had been approved and a signing ceremony is planned for May 14.

ONTARIO / QUÉBEC REGION

COVID-19 PROMPTS COUCHE-TARD TO DROP $5.6 BILLION BID FOR CALTEX

Alimentation Couche-Tard Inc. has shelved its $5.6 billion bid to acquire Caltex, the largest chain of service stations and convenience stores in Australia.

ATLANTIC REGION

IRVING OIL FINALLY GETS APPROVAL TO SOURCE ALBERTA OIL — BUT THROUGH THE PANAMA CANAL

After failing to secure Western Canadian oil via the scrapped West-to-East Energy East pipeline back in 2017, Irving Oil Ltd.’s finally been able to get federal approval for a new route to connect the oilsands to its refinery on the East Coast.

SEAMUS O'REGAN SAYS 'EXPLORATION IS KEY' TO FEDERAL HELP FOR N.L. OFFSHORE OIL INDUSTRY

The federal natural resources minister says Ottawa is focusing on incentives based on exploration to help the Newfoundland offshore oil industry as it deals with the crippling fallout of COVID-19.

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