BOE Report

BOE Report Staff

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‘Incredible increase’ in oil, gas exploration in East Africa; industry eyes new boom region

  NAIROBI, Kenya -- East Africa is in the middle of an incredible energy boom that is likely to last decades, according to energy industry executives who gathered this week in Kenya's capital in a sign of the region's growing prominence. The last couple of years have seen significant oil and gas discoveries in Kenya, Uganda, Tanzania and Mozambique. Even Somalia hopes to get onboard though security woes and a lack of regulation make the likelihood still years away. "This region was [Read more]

Saddledome flooded 14 ROWS DEEP

  CALGARY - The City of Calgary says the home rink of the Calgary Flames has flooded and the water inside is 14 rows deep. The 19,000-seat Saddledome is one of the feature buildings on the Calgary Stampede grounds. Officials say there is little that can be done to pump the water out of the building because there is simply too much inside. The Stampede, the city's premiere summer event, is scheduled to start July 5. [Read more]

Police say stay out of downtown Calgary as 100,000 evacuated due to flooding

  By Bill Graveland Downtown Calgary could look like a bit of a ghost town today, with entire neighbourhoods shut down and office workers told to stay home due to massive flooding. As rain-swollen rivers burst their banks across southern Alberta on Thursday, more than a dozen towns declared states of emergency, with entire communities including High River and Bragg Creek under mandatory evacuation orders. The impact was felt as far afield as British Columbia, where roads in the [Read more]

Mayor says worst yet to come as large swaths of Calgary become watery ghost town

  CALGARY - Calgary's mayor is warning that the worst of the flooding is yet to come after a significant portion of his city's population spent the night pulling back to higher ground. "I grew up here. I spent a lot of time on the Bow and Elbow Rivers and I have never seen the river that high or that fast," Naheed Nenshi said at a news conference early Friday morning. Heavy rains eight years ago caused flood damage to about 40,000 Calgary homes and resulted in the evacuation of [Read more]

CALGARY FLOODS, UP TO 100,000 AT RISK

Officials with the City of Calgary say as many as 100,000 people could be forced from their homes due to heavy flooding. They say the evacuation would take place in stages over the next few days. Residents of six low-lying areas are already out of their homes. Torrential rains have created havoc in southern Alberta from Banff and Canmore and Crowsnest Pass in the Rockies, to Calgary and beyond in the north and south to Lethbridge. The flooding was particularly destructive in communities just [Read more]

Workers stop flow of dangerous sour gas from rupture in watery southern Alberta

  TURNER VALLEY, Alta. - Workers have stopped the flow of potentially deadly sour gas in a ruptured pipeline in southern Alberta, but residents of nearby Turner Valley are being asked to stay in their homes.Cara Tobin of the Alberta Energy Regulator says the well feeding the line has been shut off, but crews can't get in to seal off the rupture.That part of the pipeline is under water due to extreme flooding.She says Calgary-based Legacy Oil and Gas, the pipeline's owner, and the fire [Read more]

MARKETS SINK: TSX gets hit, oil drops, gold plummets

TORONTO - The Toronto stock market headed deeper into the red for a second day Thursday after the U.S. central bank signaled that investors will have to get used to less economic stimulus and ultimately higher interest rates. The S&P/TSX composite index ended its worst single-day sell-off since April 15 by closing down 299.71 points or 2.44 per cent at 11,968.57. That left the TSX down 465 points or 3.75 per cent so far this year. The slide cut across all sectors as the TSX was also caught [Read more]