It’s time for another edition of our weekly column from the A-Team. Here is some important news for this week.
According to Deloitte’s Resource Evaluation and Advisory group, oil prices are expected to drop in the autumn, after hitting new highs this week:
Deloitte: Oil Prices Expected To Drop
He tells Mix News everything is great right now, however, this is usually when prices peak each year.
“We’re at the peak of where we are in June and July and I think we’re going to see things soften off in the fall, which is quite typical.”
“I don’t think it’s going to be quick, I think it’s something we’re going to slowly see and a build into 2019, so I don’t think it’s going to be a big surprise for producers.”
He adds the Syncrude outage is one of the big reasons for the increase in prices since supply is down and demand is still high. Via mix1037fm.com
Canadian oil prices are around $74 US a barrel currently, and expected to drop down to $62 per Deloitte's predictions.
In other news, the Regional Municipality of Wood Buffalo or RMWB has extended the deadline for the Census to July 31, according to Jenna Hamilton of My McMurray:
Census deadline extended to July 31
The Regional Municipality of Wood Buffalo has extended the census deadline to July 31.
The municipality wants to ensure all dwellings are counted, census takers will continue to go door-to-door.
According to the RMWB’s website the unofficial count is 111,498, the number is expected to fluctuate based on quality checks, shadow-population numbers and approval from the province.
The official number will be shared later this year. h/t mymcmurray.com
As of now, the unofficial count is 111,498 provided by RMWB. The final count will be released later this year.
Lastly, Trans Mountain has filed a construction schedule for the next 6 months for the expansion of its Alberta to B.C. pipeline. From Fort McMurray Today:
Trans Mountain outlines construction plans
The company says work has been underway since last fall at the Westridge Marine Terminal in Burnaby, B.C., and will continue along with additional work in the Lower Mainland.
It says it will begin this month to develop the Westridge Marine Terminal tunnel portal at Burnaby Mountain and relocate existing infrastructure to expand the Burnaby Terminal.
It also says work on a 290-km stretch of pipeline between Edmonton and Jasper National Park will start in August and include surveying, staking and flagging the right-of-way.
It says it will clear trees and vegetation in the area while taking measures to protect the environment with relocation of rare plants and by conducting wildlife surveys. read more at fortmcmurraytoday.com
The National Energy Board had already approved the 1,147-km pipeline within an approximately 150-meter-wide corridor.
That’s all for this weeks’ roundup. Check back on The A-Team blog for more news and updates on Fort McMurray.