Pieridae Energy, North American Oil Bankruptcies: Your Daily Energy News

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CRUDE OIL
Canadian Crude Oil Imports Fell 20% in 2020 - Imports of crude oil into Canada dropped 20% year-on-year in 2020 due to weak demand as a result of the COVID-19 pandemic, the Canada Energy Regulator said in an analysis released Wednesday. Canada imported 555,000 barrels per day (BBL/d) last year, the lowest level in at least 10 years, down from 693,000 BBL/d in 2019 and more than 800,000 BBL/d in 2010. (Reuters)

LNG
Pieridae Energy Plans Final Investment Decision for Nova Scotia LNG Project by Late June - Canadian energy company Pieridae Energy Limited (TSX:PEA) said on Thursday it continues to work toward making a final investment decision by June 30 to build its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia. That would allow the $10 billion project to produce first LNG in 2025-2026. (Projects 300124802, 300124807) (Reuters)

CORPORATE
Law Firm: North American Oil Bankruptcies Hit Highest Q1 Levels Since 2016 - Bankruptcies by North American oil producers rose to the highest first-quarter level since 2016, according to a report released on Thursday by law firm Haynes and Boone, as some energy firms struggled to recover from the 2020 crash in oil prices. There were eight bankruptcies by North American oil and gas producers in the first quarter of 2021, versus 17 in the first quarter of 2016 - the last time U.S. crude futures dipped under $30 a barrel. (Reuters)

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