Wildfires in Canada Force Evacuations, Cut Oil and Gas Output

latest news headlines 2 weeks ago

Wildfires burning across the Canadian province of Alberta have prompted the evacuation of almost 30,000 residents and the shutdown of oil and natural gas wells and pipeline systems. At least 145,000 barrels per day of oil production has been halted. A total of 109 blazes were burning as of late Sunday, 30 of which were classified as out of control, and a provincial state of emergency has been declared. Evacuation orders have been issued for communities, including some less than 100 kilometers (62 miles) west of the provincial capital, Edmonton. The fires are affecting energy production in the region, which accounts for most of Canada’s hydrocarbon exports. Crescent Point Energy Corp. has shut in 45,000 barrels a day of production in the Kaybob Duvernay region, though the company said it has seen no damage to its assets. Vermilion Energy Inc. temporarily shut 30,000 barrels a day of production, but added in a statement that initial assessments indicate minimal damage to key infrastructure. Around 20,000 barrels a day of Pipestone Energy Corp.’s production has been shut in, the company said in a statement. Meanwhile, Tourmaline Oil has closed down nine South and West Deep Basin gas processing facilities as nearby fires expanded and new wildfires rapidly emerged. -------- Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Subscribe to Bloomberg Originals: https://www.youtube.com/BloombergTV Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/@BloombergQuicktakeNow Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake
Read Entire Article