financetom
Business
financetom
/
Business
/
Canada's Imperial Oil reduces non-essential staff at Kearl as wildfires spread
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Canada's Imperial Oil reduces non-essential staff at Kearl as wildfires spread
Jul 24, 2024 8:47 AM

July 24 (Reuters) - Canada's Imperial Oil ( IMO ) is

reducing non-essential staff at the Kearl oil sands site as a

precaution against the ongoing wildfires in the country, the

company said on Wednesday.

There are 430 wildfires in British Columbia with another 172

in Alberta including those near the key oil sands hub of Fort

McMurray in northern Alberta.

Imperial Oil ( IMO ) said there was no direct impact on its

operations at the moment and that it continues to monitor the

situation closely.

About two-thirds of Canada's five million barrels per day of

production comes from the oil sands region.

The wildfire danger level is designated as "extreme" across

the Fort McMurray forest area and a fire ban is in effect for

the entire area, as per an Alberta government release on

Tuesday.

Kearl oil sands site lies roughly 70 kilometres north of

Fort McMurray.

Separately, several analysts said the wildfires in Canada

forced some producers to curtail production and threatened a

large amount of supply, lending support to higher prices.

Earlier this month Suncor, Canada's second-largest

oil company, temporarily curtailed some production and evacuated

non-essential workers from its 215,000 barrels-per-day (bpd)

Firebag site because of a nearby fire.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BRIEF-WSP Global to acquire consulting firm Power Engineers Inc
BRIEF-WSP Global to acquire consulting firm Power Engineers Inc
Aug 12, 2024
Aug 12 (Reuters) - WSP Global Inc ( WSPOF ): * WSP TO ACQUIRE POWER ENGINEERS SETTING A MILESTONE FOR ACCELERATED GROWTH * WSP GLOBAL INC ( WSPOF ) - PROPOSED ACQUISITION OF POWER FOR A TOTAL CASH PURCHASE PRICE OF US$1,780 MILLION * WSP GLOBAL ( WSPOF ) : PROPOSED DEAL EXPECTED TO BE IMMEDIATELY ACCRETIVE TO ADJUSTED NET...
AllianceBernstein Reports Rise in Preliminary July Assets Under Management
AllianceBernstein Reports Rise in Preliminary July Assets Under Management
Aug 12, 2024
05:18 PM EDT, 08/12/2024 (MT Newswires) -- AllianceBernstein ( AB ) reported late Monday preliminary assets under management of $777 billion during July, up from $770 billion at the end of June. Market appreciation, partially offset by outflows, resulted in a 1% increase in AUM, the company said. Price: 32.99, Change: -0.30, Percent Change: -0.90 ...
BRIEF-BML Investment Partners Reports 14.2% Passive Stake In AN2 Therapeutics
BRIEF-BML Investment Partners Reports 14.2% Passive Stake In AN2 Therapeutics
Aug 12, 2024
Aug 12 (Reuters) - AN2 Therapeutics Inc ( ANTX ): * BML INVESTMENT PARTNERS, L.P. REPORTS 14.2% PASSIVE STAKE IN AN2 THERAPEUTICS AS OF AUGUST 9, 2024- SEC FILING Source text for Eikon: Further company coverage: ...
BRIEF-Twin Vee PowerCats Enters Merger Agreement With Forza X1
BRIEF-Twin Vee PowerCats Enters Merger Agreement With Forza X1
Aug 12, 2024
Aug 12 (Reuters) - Twin Vee PowerCats Co ( VEEE ): * TWIN VEE POWERCATS-CO ( VEEE ), FORZA X1 ( FRZA ), ENTERED MERGER AGREEMENT FOR ALL STOCK TRANSACTION * TWIN VEE POWERCATS CO ( VEEE ) - PURSUANT TO DEAL FORZA WILL MERGE WITH AND INTO A WHOLLY OWNED SUBSIDIARY AND SURVIVE THE MERGER * TWIN VEE POWERCATS...
Copyright 2023-2026 - www.financetom.com All Rights Reserved