Late last week, Bloomberg reported that a US$320-billion Saudi wealth fund controlled by Crown Prince Mohammed bin Salman had snapped up shares in Canadian Natural Resources Ltd. and Suncor Energy, becoming CNRL’s eighth-largest and Suncor’s 14th-largest owner. The fund made its move after CNRL’s shares lost 43% of their value this year, and Suncor’s dropped 46%, compared to a 15% decline across the Standard & Poors/Toronto Stock Exchange Composite Index.
The provincial public health officer wants Alberta oilsands workers who come back to B.C. on their breaks to self-isolate.
Dr. Bonnie Henry pointed out that there continue to be positive test results for COVID-19 linked to a project north of Fort McMurray.
"One of the more challenging issues that we've had recently is an increase in numbers of cases here associated with the Kearl Lake plant in Alberta," Henry told reporters today.
Alberta Premier Jason Kenney lashed out Friday at a reporter who asked him whether a transition toward renewable energy might be on the table as global crude prices plummet.
"With the oil and gas market taking such a hit, when do you start thinking about a transition away from fossil fuels?" Tom Ross, the reporter for Calgary's 660 News, asked.
"Our focus is on getting people back to work, not pie-in-the-sky ideological schemes," Kenney said, flanked by his energy and environment ministers.
It’s a question that’s been debated since the start of the COVID-19 pandemic, especially when Prime Minister Justin Trudeau eyed broader emergency powers for the federal government and left the door open to using cellphone data to track compliance with physical-distancing rules.
Hopes for as much as $30 billion to help sector survive double hit
Alberta’s Minister of Energy Sonya Savage expects the federal government to announce a “liquidity package” this week that would help oil and gas companies in her province survive through the severe price collapse caused by the COVID-19 global pandemic.