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Imperial Oil Ltd
Symbol IMO
Shares Issued 517,860,941
Close 2024-11-18 C$ 105.73
Market Cap C$ 54,753,437,292
Recent Sedar Documents

FP says CNRL, rivals hear nat gas outlook brightening

2024-11-18 08:13 ET - In the News

See In the News (C-CNQ) Canadian Natural Resources Ltd

The Financial Post reports in its Saturday edition that LNG Canada is set to increase Western Canada's natural gas exports by 20 per cent when it starts operations in mid-2025, according to BMO analyst Randy Ollenberger. The Post's Meghan Potkins writes that Mr. Ollenberger says the outlook for natural gas in the region is the best since 2005. The thesis beginning to grip the sector is that Canadian producers will not be able to drill fast enough or ship in large enough volumes on existing pipeline routes to meet the combined pull on resources from Shell-led LNG Canada and the demand from the oil sands. The enticing possibility of Canadian natural gas reducing its significant discount compared with American prices -- similar to the impact the Trans Mountain Pipeline expansion has had on Canadian heavy oil prices -- highlights the crucial role of pipelines and export infrastructure for producers. As Canada's first LNG export facility prepares to start up, the future of LNG development on the West Coast looks uncertain, raising concerns about the country's energy export potential. Despite the uncertainty, the Canadian oil patch seems cautiously optimistic as LNG Canada prepares to ship its first cargoes from the B.C. coast.

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