Latest news with #CaribouLakeWildfire
Yahoo
3 days ago
- Business
- Yahoo
Alberta's wildfires disrupt 350,000 barrels of daily crude production
Alberta's wildfires have led to the suspension of approximately 350,000 barrels per day (bpd) of heavy crude production, which constitutes around 7% of Canada's total oil output. The Caribou Lake Wildfire, along with other uncontained fires, poses a significant threat to oil sands operations in the region. The wildfire, which has spread across 61,500 hectares (ha) near the Saskatchewan border, has forced companies such as Cenovus Energy, MEG Energy and Canadian Natural Resources to curtail their operations. As of early Monday, the fires had grown to at least 10ha in size and were within approximately 10km of oil production facilities that collectively produce around 470,000bpd. Alberta, along with the prairie provinces of Saskatchewan and Manitoba, has experienced a surge in wildfires, leading to the evacuation of thousands of residents. On Monday, 26 wildfires were reported to be burning uncontrollably in Alberta, a significant contributor to Canada's oil production. The interruption in production is especially notable given its similarity to the volume that OPEC+ nations agreed to restore to the global market. This disruption underscores the unpredictable nature of oil supply, particularly at a time when heavy crude supplies are already tight. Oil sands operators had recently reduced output for routine maintenance, and sanctions have further restricted the availability of heavy crudes from countries like Venezuela. A notable incident occurred in 2016 when a wildfire halted operations at oil sands mines north of Fort McMurray, cutting daily production by more than one million barrels. Cenovus Energy announced on Sunday that it expects to resume operations at its Christina Lake oil sands site, which has a capacity of 238,000bpd, in the "near term" following a shutdown that began on 29 May. Similarly, MEG Energy experienced a power outage at its oil sands facility, with maintenance delaying the restart of a section capable of producing 70,000bpd. Canadian Natural Resources has also taken action by evacuating workers from its Jackfish 1 oil sands site, resulting in the cessation of 36,500bpd of production. The region is hopeful for the return of showers by the weekend, which could help contain the wildfires. "Alberta's wildfires disrupt 350,000 barrels of daily crude production" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
4 days ago
- Business
- Yahoo
Alberta wildfires shut down about 7% of Canada's oil production
(Bloomberg) — Wildfires in Canada's energy heartland of Alberta have shut down almost 350,000 barrels of daily heavy crude production — about 7% of the country's output — as a major blaze near the province's eastern border menaces oil sands operations. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Where the Wild Children's Museums Are The Economic Benefits of Paying Workers to Move Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania At London's New Design Museum, Visitors Get Hands-On Access Cenovus Energy Inc., MEG Energy Corp. and Canadian Natural Resources Ltd. are among the companies that curtailed output because of the 61,500 hectare blaze near the Saskatchewan border. The so-called Caribou Lake Wildfire and other out-of-control blazes at least 10 hectares in size were within roughly 10 kilometers of about 470,000 barrels a day of oil production early Monday. Canada's prairie provinces of Alberta, Saskatchewan and Manitoba have seen an eruption of wildfires, prompting the evacuations of thousands of people away from potential danger. A total of 26 wildfires were burning out of control early Monday in Alberta, which is the source of most of Canada's oil output. The loss of supplies from the world's fourth-largest oil producer comes at a time when heavy crude supplies already are strained. Oil sands operators had recently curtailed output for regular maintenance, and tightening sanctions have crimped supplies of similar heavy crudes from Venezuela. Cenovus said Sunday that it expects to resume operations at its 238,000 barrel-a-day Christina Lake oil sands site in the 'near term' after shutting output on May 29. MEG Energy's nearby oil sands site was affected by a power cut due to the blaze, delaying the restart of a 70,000 barrel-a-day section of the facility after maintenance. Canadian Natural evacuated workers from its Jackfish 1 oil sands site, shutting 36,500 barrels a day of output. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Will Small Business Owners Knock Down Trump's Mighty Tariffs? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Alberta Wildfires Shut Down About 7% of Canada's Oil Production
(Bloomberg) -- Wildfires in Canada's energy heartland of Alberta have shut down almost 350,000 barrels of daily heavy crude production — about 7% of the country's output — as a major blaze near the province's eastern border menaces oil sands operations. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Where the Wild Children's Museums Are The Economic Benefits of Paying Workers to Move Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania At London's New Design Museum, Visitors Get Hands-On Access Cenovus Energy Inc., MEG Energy Corp. and Canadian Natural Resources Ltd. are among the companies that curtailed output because of the 61,500 hectare blaze near the Saskatchewan border. The so-called Caribou Lake Wildfire and other out-of-control blazes at least 10 hectares in size were within roughly 10 kilometers of about 470,000 barrels a day of oil production early Monday. Canada's prairie provinces of Alberta, Saskatchewan and Manitoba have seen an eruption of wildfires, prompting the evacuations of thousands of people away from potential danger. A total of 26 wildfires were burning out of control early Monday in Alberta, which is the source of most of Canada's oil output. The loss of supplies from the world's fourth-largest oil producer comes at a time when heavy crude supplies already are strained. Oil sands operators had recently curtailed output for regular maintenance, and tightening sanctions have crimped supplies of similar heavy crudes from Venezuela. Cenovus said Sunday that it expects to resume operations at its 238,000 barrel-a-day Christina Lake oil sands site in the 'near term' after shutting output on May 29. MEG Energy's nearby oil sands site was affected by a power cut due to the blaze, delaying the restart of a 70,000 barrel-a-day section of the facility after maintenance. Canadian Natural evacuated workers from its Jackfish 1 oil sands site, shutting 36,500 barrels a day of output. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Will Small Business Owners Knock Down Trump's Mighty Tariffs? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Sign in to access your portfolio
CBC
4 days ago
- Business
- CBC
Cenovus shuts in oilsands production at northern Alberta site due to wildfires
Cenovus Energy Inc. says only essential personnel are at its Christina Lake oilsands operations where it has shut production due to the wildfires in northern Alberta. The company says it began the work to shut in production at Christina Lake on May 29. The heavy oil operation is about 150 kilometres southeast of Fort McMurray. A fire nearby has put the roughly 200 residents of the hamlet of Conklin under evacuation alert. As of Monday, the fire — known as the Caribou Lake wildfire — continued to burn out of control and had consumed more than 61,550 hectares of forest. The fire is among more than 50 burning across the province. As of 7 a.m. Monday, 26 are classified as out of control. Based on its inspections so far, Cenovus says it is not aware of any damage to its infrastructure and expects a full restart of its Christina Lake operations once it is safe. About 238,000 barrels per day of production have been impacted. It says it will provide an update when it's in a position to restart. The company said operations will resume as soon as it's safe to do so. Thousands of residents have been affected by wildfires in Manitoba, Saskatchewan and Alberta prompted by hot, dry weather that have allowed some fires to grow.
