Canada's struggling energy industry takes stock at annual Stampede party Jul 12 2019 [Reuters]
Cenovus Energy Inc (CVE)
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Source: Reuters
Canada's struggling energy industry takes stock at annual Stampede party - Reuters 6 Min Read CALGARY, Alberta (Reuters) - Frustration is palpable among Canadian energy executives who have flocked to the annual Calgary Stampede celebrations in Canada’s oil capital this week, even though a recent pipeline approval gives them something to celebrate amid the rodeo competitions, corporate parties and pancake breakfasts. The federal government’s approval of the Trans Mountain expansion last month was a boost for the battered industry. On top of that, crude oil prices have stabilized, an aggressively pro-energy party has come to power in Alberta and overall production in the country is around 5 million barrels per day - making Canada the world’s fourth-largest producer. Yet millions of barrels of crude remain in storage because of stubborn delays in pipeline expansion caused by legal challenges from environmental and indigenous groups. The transportation problems have forced the Alberta gov
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