06:42:21 EST Sat 24 Feb 2024
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Cenovus Energy Inc
Symbol CVE
Shares Issued 1,882,786,392
Close 2023-11-20 C$ 24.92
Market Cap C$ 46,919,036,889
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Globe/CP say Suncor, rivals hear methane underestimated

2023-11-20 08:13 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Saturday, Nov. 18, edition that a study from one of Canada's premier climate labs says methane emissions from Alberta's energy industry are underestimated by almost 50 per cent. A Canadian Press dispatch to The Globe reports that the study from Carleton University's Energy and Emissions Research Lab also says oil and gas produced in the province emits significantly more methane for the energy produced than jurisdictions such as British Columbia. The measurement offers a warning to industry, said lead author Matthew Johnson. Researchers looked at 3,500 different oil and gas facilities and 5,600 wells. The findings come as the federal government prepares regulations to control the amount of the gas released into the atmosphere. Alberta's energy regulator used industry figures to determine that methane emissions in the province have nearly halved since 2014. However, Mr. Johnson says that calculation does not mean much if the baseline figure is wrong. Mr. Johnson said Environment and Climate Change Canada is currently re-evaluating its methane statistics in light of work from his lab, which has published a series of papers that throw doubt on official numbers.

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