BIDEN TO HALT NEW OIL AND GAS LEASES ON FEDERAL LANDS President Joe Biden is set to order the moratorium on Wednesday, according to sources familiar with his plans. The halt on new leases would apply to federal land and water, but wouldn’t affect exciting leases. The move is expected to be a prominent part in a series of climate actions the President is to take on Wednesday. GENERAL MOTORS PARTNERS WITH NAVISTAR TO SUPPLY FUEL-CELL TECHNOLOGY FOR NEW SEMITRUCK GM will supply Navistar International with fuel-cell electric vehicle technology for a semitruck. The companies are billing the collaboration as part of a complete solution for customers. The deal includes privately held hydrogen-fuel company OneH2, which will be responsible for hydrogen production, storage, delivery and safety to fuel the truck.
NATIONAL
DEPUTY PRIME MINISTER FREELAND RESPONSE TO STRENGTHENING OF BUY AMERICAN U.S. President Joe Biden signs an executive order to strengthen Buy American provisions. Freeland insisted that the Canadian government knows ‘how to deal with’ American protectionism, saying “this is not a new thing.” The executive order directs agencies to close loopholes in how made-in-America products are measured. TC ENERGY COULD MAYBE FIND A PATH FORWARD UNDER JOE BIDEN Despite halting construction on the Keystone XL pipeline in anticipation of Biden canceling the permit. TC Energy spoke optimistically of the future as it invited oil shippers to bid for capacity expected to be made available on the existing base Keystone export pipeline system.
OIL AND GAS INDUSTRY FORECASTS SMALL SPENDING RISE AFTER SLASHED BUDGETS IN 2020 A forecast calling for a modest increase in capital spending in the Canadian oilpatch this year after a tumultuous 2020 of budget slashing is being hailed as a sign of better times ahead for the industry. The Canadian Association of Petroleum Producers said capital spending by oil and gas companies in Canada this year is expected to rise by $3.36 billion compared with 2020. O’REGAN REBUFFS CALLS TO IMPOSE SANCTIONS ON U.S OVER KEYSTONE XL CANCELLATION Canada’s natural resource minister rejected calls to issue sanctions on the U.S over President Biden’s revoking of permits for the Keystone XL pipeline expansion. Saying that a entering a trade war is not in the best interest of Canada’s oil and gas workers, a statement supported by Prime Minister Trudeau. TRANS MOUNTAIN PROJECT FACES A YEAR OF CHALLENGES AND OPPORTUNITY The strategic importance of the Trans Mountain pipeline project has significantly increased following the cancellation of the Keystone XL pipeline. In 2021, the project plans to make significant progress on work to twin the existing 1,500 kilometre Albertato-British Columbia pipeline. Hiring and project spending are expected to increase as additional sections of the pipeline are built.
WESTERN REGION SASKATCHEWAN ANNOUNCED NEW PROJECTS TO REDUCE METHANE EMISSIONS AND INCREASE GAS PRODUCING CAPACITY The three projects take advantage of the Government of Saskatchewan’s oil and gas incentives. Highrock Resources Ltd., along with its joint venture partner, Kindersley based Verdera Energy, is conditionally approved in the SPII program for their approximately $1.5 million investment in a new flare-gas-to-power project. Steel Reef is conditionally approved in the OGPII program for a project to expand gas processing facilities.
Canadian Independent Petroleum Marketers Association | Connection 2021 |
10
