oil sands News

Canada ‘Needs to Do More’ to Mitigate Climate Disasters Such as Wildfires, Flood

The Canadian government needs to do more to mitigate climate disasters such as floods and wildfires, a top green watchdog said on Tuesday as the Alberta town of Fort McMurray struggled to recover from a huge inferno. Environment Commissioner Julie …

Canada’s Oil Sands Facilities Prepare to Restart as Wildfires Begin to Slow

All of the Canadian oil-sands facilities that workers fled last week as a wildfire spread are being allowed to prepare for restart as cool, humid weather has helped contain the inferno. Alberta lifted mandatory evacuation orders for the last of …

Alberta Wildfires Could Cost $7B with Minimal Insurer Credit Hit: Ratings Agencies

The Fort McMurray wildfires, which have been raging through northern Alberta, Canada since May 1, are likely to be the costliest natural disaster in Canadian history, according to recent reports issued by catastrophe modeling firm AIR Worldwide, rating company DBRS …

Alberta Wildfires Spread North, Threatening Oil Sands Facilities, Workers’ Camps

Wildfires raging across northern Alberta for more than two weeks have come to within a kilometer of an Enbridge Inc. oil-sands transportation terminal as warm weather and wind spread the flames, while workers were evacuated from camps north of Fort …

Alberta Wildfires Spare Almost 90% of Fort McMurray, Canada’s Energy Hub

The massive wildfires that swept through Canada’s energy hub of Fort McMurray left almost 90 percent of the city intact, including most of the downtown core, while completely leveling some neighborhoods. “This city was surrounded by an ocean of fire …

Alberta Wildfires Could Hit Canada Economy Harder than Hurricane Katrina in US

Intact Financial Corp. may post insured losses of as much as C$1.1 billion ($850 million) from the wildfires in Alberta, which could dent the Canadian economy harder than Hurricane Katrina hit the U.S. Intact, Canada’s biggest property and casualty insurer, …

Costly Alberta Wildfires to Hit Q2 Results; Insurers Are Resilient: Ratings Reports

While the wildfires raging through northern Alberta and the city of Fort McMurray could bring one of the largest catastrophe losses in Canadian history, property insurers are resilient, according to A.M. Best and Moody’s in separate reports. The fire has …

Alberta Wildfires Set to Veer from Oil Sands Operations, Spreading More Slowly

Wildfires raging through Alberta are set to move away from the main oil-sands facilities north of Fort McMurray after knocking out an estimated 1 million barrels of production from Canada’s energy hub. A cold front scheduled to pass through the …

Alberta Wildfire Insured Losses Could Total $7.3B, Covering Area Bigger Than NYC

The wildfires ravaging Canada’s oil hub in northern Alberta have rapidly spread to an area bigger than New York city, prompting the air lift of more than 8,000 evacuees as firefighters seek to salvage critical infrastructure. The inferno around Fort …

Alberta Wildfire Could Become Canada’s Costliest Natural Catastrophe

A wildfire in the Alberta city of Fort McMurray is set to become the costliest ever Canadian natural disaster for insurers, with 1,600 buildings destroyed and another 19,000 under threat, analysts and industry sources say. The bill for insurers is …