VANCOUVER - The City of Vancouver is urging the federal government to take a broader look at greenhouse gas emissions when considering the proposed Trans Mountain pipeline expansion.City manager Sadhu Johnston has written a letter to Environment and Climate Change Canada saying the department should look at downstream emissions created from processing, refining, transporting and using the pipeline's oil when assessing environmental impact.Kinder Morgan wants to triple the capacity of the [Read more]
Archives for 2016
Diversifying Alberta’s economy is not complicated
Whenever Alberta experiences the stresses and strains associated with a downturn in the oil & gas sector, many beat up our government for not diversifying the Alberta economy faster. We forget that we’ve been making steady diversification progress as illustrated by the graphs above that are taken from Highlights of the Alberta Economy 2015. When diversifying the Alberta economy, slow and steady wins the race. By contrast big and flashy government investments have been a consistent bust [Read more]
Four of six appeals of Nova Scotia gas storage project dismissed by province
INDIAN BROOK, N.S. - Nova Scotia's minister of the environment has dismissed four of six appeals opposing the province's decision to approve a new underground natural gas storage facility.The province is declining to reveal which four groups have had their appeals of the Alton Natural Gas storage facility project denied, citing privacy laws.The Indian Brook First Nation had issued a statement in February saying it would submit an appeal, arguing the facility north of Halifax shouldn't be [Read more]
Kuwait’s oil minister urges striking union to resume work
KUWAIT CITY, Kuwait - Kuwait's acting oil minister has urged striking union workers to get back to their jobs, promising the government will not reduce their "core benefits."The statement by Anas al-Saleh, who's also finance minister, was carried on the official Kuwait News Agency Monday.Thousands of workers in six oil and petrochemical companies went on strike Sunday to protest proposed government cutbacks.Kuwait Petroleum Corp., which is the parent company of the Kuwait Oil Co. and other [Read more]
International Frontier Resources Corporation 2015 Year-End Financial Results
CALGARY, ALBERTA--(Marketwired - April 18, 2016) - International Frontier Resources Corporation (the "Company") (TSX VENTURE:IFR) today reported its financial results for the year ended December 31, 2015. The Company recorded a consolidated net loss for the year ended December 31, 2015 of $4,394,775 ($0.06 per share) as compared to a consolidated net loss of $561,465 ($0.009 per share) at December 31, 2014. Excluding non-cash charges comprised of accretion, depletion, depreciation, share-based [Read more]
Pembina Pipeline Corporation Increases Size of Preferred Share Offering
CALGARY, ALBERTA--(Marketwired - April 18, 2016) - Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX:PPL)(NYSE:PBA) is pleased to announce that as a result of strong investor demand for its previously announced offering of cumulative redeemable minimum rate reset class A preferred shares, Series 13 (the "Series 13 Preferred Shares"), the size of the offering has been increased to 10,000,000 Series 13 Preferred Shares, for aggregate gross proceeds of $250 million. The offering no [Read more]
Alberta finance minister says stimulus more important than credit rating
CALGARY - Alberta Finance Minister Joe Ceci said Monday he will hold firm on his promise not to introduce a sales tax even as a business audience expressed interest in such a revenue-raising measure.Ceci told the Calgary Chamber that the government is focused on economic stimulus and cutting costs, and while it's willing to hear suggestions on how it can bring in more revenue to plug a deficit hole, that would not include a new sales tax."I'm not ready to do that, this government has said it [Read more]
Deep staff cuts: efficiency or optics?
More than 40,000 people have been laid off since the collapse in commodity prices sent Alberta into an economic tailspin and energy companies responded in lock step with rounds of downsizing. As the industry continues to shed people, it’s increasingly unclear if headcount reduction is actually an effective approach to address its issues. Sweeping layoffs may actually be creating the conditions for deeper problems when prices rebound and production opportunities arise again. More [Read more]
Pembina Pipeline Corporation Launches $150 Million Bought Deal Preferred Share Offering and Provides Previously Announced Acquisition Update
CALGARY, ALBERTA--(Marketwired - April 18, 2016) - Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX:PPL)(NYSE:PBA) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by RBC Capital Markets and Scotiabank (together, the "Underwriters") pursuant to which the Underwriters have agreed to purchase from Pembina 6,000,000 cumulative redeemable minimum rate reset class A preferred shares, Series 13 (the "Series 13 Preferred Shares") at a [Read more]
Suncor Energy to provide enhanced disclosure for investors
CALGARY, ALBERTA--(Marketwired - April 18, 2016) - Suncor today announced that enhanced disclosure around carbon risk and its lobbying activities will be provided in the 2016 Report on Sustainability to be issued in July. As part of this enhanced disclosure, Suncor will provide further information about how the company is expected to succeed in a low carbon future. Regarding lobbying practices, Suncor will expand its disclosure by publishing its policy on lobbying and political donations, and [Read more]
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