Kinder Morgan Canada Ltd said Thursday that it has been unable to gain permits from the coastal city of Burnaby, British Columbia, for its Trans Mountain pipeline expansion and is appealing to the national regulator for construction approval. Burnaby has long opposed the expansion over environmental concerns, and the lack of permits from the city adds to the hurdles facing the C$7.4 billion ($5.9 billion) expansion, as North American energy projects face increasing opposition from activists. [Read more]
Archives for October 2017
Province defies federal government demand for $50 a tonne price on carbon
WINNIPEG - Manitoba's Progressive Conservative government will announce a carbon tax of $25 a tonne Friday — to be implemented sometime next year — and keep it at that rate, a government source familiar with the file confirmed to The Canadian Press. The source, who spoke on condition of anonymity because they were not authorized to speak on the record, said the province will refuse to follow federal government demands to raise the tax to $50 a tonne by 2022. The source confirmed [Read more]
Trans Mountain Seeks Determination from National Energy Board
CALGARY, Oct. 26, 2017 /CNW/ - After a thorough and lengthy process, taking into consideration local interests along with technical and scientific evidence, the National Energy Board (NEB) and the Government of Canada granted their approvals for the Trans Mountain Expansion Project in 2016. The Board and the Government considered timing and schedule in their determination that the Project is in the public's interest. After many months of working in good faith to obtain municipal permits [Read more]
Canada’s Irving Oil fined C$4 mln in 2013 deadly rail disaster
Canada's Irving Oil was fined C$4 million ($3.11 million) on Thursday for what authorities said was the private refiner and distributor's role in a derailment that killed 47 people in 2013 in Quebec province. Irving Oil has pleaded guilty to 34 offences including carrying erroneous shipping documents and inadequately training staff, according to the Public Prosecution Service of Canada. In July 2013, the downtown section of the town of Lac Megantic was destroyed following the [Read more]
Energy Transfer Partners Announces Increase in Quarterly Cash Distribution
Partnership’s Quarterly Distributable Cash Flow Continued to Increase as Large Organic Growth Projects Placed In Service Earnings Release and Earnings Call Dates Also Announced DALLAS--(BUSINESS WIRE)--Energy Transfer Partners, L.P. (NYSE: ETP) today announced a $0.015 increase in its quarterly cash distribution to $0.565 per ETP common unit ($2.26 on an annualized basis) for the third quarter ended September 30, 2017. This quarterly [Read more]
Surge Energy Inc. Announces $37.2 Million Sparky Core Area Acquisition; $40 Million Convertible Debenture Financing; Upward Revision to 2017 Exit Guidance; 2018 Preliminary Guidance
CALGARY, ALBERTA--(Marketwired - Oct. 26, 2017) - Surge Energy Inc. ("Surge" or the "Company") (TSX:SGY) is pleased to announce the acquisition (the "Acquisition") of a low decline, high netback, waterflooded, crude oil producing asset (the "Assets") in its core Sparky area of Central Alberta for a purchase price of $37.2 million, which closed on September 8, 2017. Surge has identified up to 38 net Sparky development drilling locations on the Assets. The Assets have current core production of [Read more]
Canada’s Crescent Point 3rd-qtr net loss widens, shares fall
Canadian oil and gas producer Crescent Point Energy Corp said on Thursday its third-quarter net loss more than doubled, driven by tax payments and foreign exchange losses, sending shares sharply lower. The Calgary-based company also said it would boost capital expenditures in 2017 to C$1.55 billion ($1.21 billion) from the previous estimate of C$1.45 billion. Most of that money is earmarked for work in the Uinta Basin in Utah, the Williston Basin in Saskatchewan and early work at its emerging [Read more]
TransCanada seeks to raise spot tariffs on Marketlink oil pipeline -FERC
TransCanada Corp is seeking to raise the temporary discounted spot rate for light crude on its 700,000 barrel-per-day Marketlink pipeline effective Dec. 1, according to a Federal Energy Regulatory Commission filing on Thursday. Light crude oil moving from Cushing, Oklahoma into Port Arthur or Houston in Texas will be raised to $3.00 a barrel from $2.50 a barrel previously, according to the filing. The heavy crude tariff rate at $3.00 a barrel remains unchanged. U.S. crude benchmark's [Read more]
Suncor says makes progress in oil sands project dispute with Total
Suncor Energy , Canada's second-largest energy producer, said on Thursday it has made progress in resolving a commercial dispute with joint venture partner Total SA over funding for the new Fort Hills oil sands mining project. Calgary-based Suncor is the majority owner and operator of the Fort Hills joint venture in northern Alberta. The plant, which is the last oil sands project to be built from scratch on a massive scale, is expected to be operating at 90 percent of its 190,000 [Read more]
Irving Oil fined after pleading guilty in 2013 Lac Megantic disaster
SAINT JOHN, N.B. - Irving Oil has been ordered to pay $4 million after pleading guilty to 34 counts stemming from the investigation into the 2013 rail disaster in Lac Megantic, Que. The charges under the Transportation of Dangerous Goods Act result from a joint investigation by Transport Canada and the RCMP that was prompted by the deadly train derailment. On July 6, 2013, a train carrying 7.7 million litres of crude oil sped toward the small Quebec town at 104 km/h before [Read more]
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