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Alberta to Curtail Oil Production Amid Low Prices, Pipeline Shortage
Industry Segment: Production | Word Count: 926 Words
Attachment: Planned Oil & Gas Production Project Starts in Alberta in 2019
SUGAR LAND--December 4, 2018--Researched by Industrial Info Resources (Sugar Land, Texas)--On Sunday, Alberta premier Rachel Notley announced that oil production in the province would be curtailed starting January 1. Western Canadian Select (WCS) crude oil currently trades for a steep discount to the North American benchmark, West Texas Intermediate (WTI), and it is hoped that reducing production from the oil-rich province will elevate WCS' price. The province suffers from a lack of takeaway pipeline capacity, helping cause the lower price. Industrial Info is tracking more than $94 billion in active Production projects in Alberta, many of which may be postponed due the planned production reduction.
Within this article: Details of the curtailment and proposed projects in the region, including those by Cenovus Energy Incorporated (NYSE:CVE), Suncor Energy Incorporated (NYSE:SU), Kinder Morgan Canada Limited (TSX:KML) and Enbridge Incorporated (NYSE:ENB)
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