BOE Report

BOE Report Staff

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Enbridge adjusted earnings beat expectations, but pace not expected to last

By Lauren Krugel, The Canadian Press CALGARY - Enbridge Inc. is seeking U.S. approval to pump more crude through an Alberta-to-Wisconsin pipeline — a process the company expects to be easier than the one TransCanada Corp. is facing with its Keystone XL pipeline. "I think I'd point out that this is a little bit of a different situation," Enbridge CEO Al Monaco told analysts on a conference call Wednesday to discuss the company's first-quarter results. Enbridge (TSX:ENB) won't be laying [Read more]

Alberta NDP calls on province to release energy pipeline safety report

By John Cotter, The Canadian Press EDMONTON - The New Democrats say it's time for the Alberta government to release a report on the safety of oil and natural gas pipelines in the province. Alberta Energy Minister Ken Hughes ordered the safety assessment last summer following three oil pipeline spills, including one that polluted part of the pristine Red Deer River. An engineering firm completed the technical report last fall and presented the findings to the government, which sent the [Read more]

Oil slips on expectation U.S. supplies are growing and report on Saudis output

  NEW YORK, N.Y. – The price of oil fell Tuesday on expectations of another increase in U.S. oil supplies. West Texas Intermediate, the benchmark crude in the U.S., fell 54 cents to finish at US$95.62 per barrel on the New York Mercantile Exchange. The U.S. Energy Department releases its weekly report on U.S. oil inventories Wednesday. Addison Armstrong, senior director of market research at Tradition Energy, expects supplies rose by 2.8 million barrels in the week ended May 3. [Read more]

TSX flat, while Dow breaks 15,000

By Linda Nguyen, The Canadian Press TORONTO - The Toronto Stock Market stayed relatively flat Tuesday as it was dragged down by dropping commodity prices and earnings reports from a number of big-name companies. The S&P/TSX composite index was down 0.7 points at 12,474.52, while the Canadian dollar climbed 0.18 of a cent to 99.50 cents US. The resource-heavy TSX initially opened lower, then jumped back and forth between positive and negative territory throughout the morning. The TSX [Read more]

Penn West stock soars after oilpatch veterans appointed as chair, vice-chair

By The Canadian Press CALGARY - Penn West Exploration Ltd. (TSX:PWT.TO) shares surged as high as seven per cent on Monday after the oil and gas company named two prominent oilpatch veterans as chairman and vice-chairman. The stock soared as high as $10.20 — an increase of 7.2 per cent from Friday — but retreated somewhat to trade for $10.11, or 6.3 per cent higher, by mid-day. On Sunday, Penn West said former Suncor Energy Inc. (TSX:SU.TO) CEO Rick George was appointed board chairman. George [Read more]

ANNOUNCEMENT: BOE Report now featured in the CamTrader!

We’re pleased to announce the BOE Report news feed is now featured in the CamTrader! The CamTrader is the most trusted oil and gas classifieds network in which the members assist one another to achieve their desired results: whether it’s finding the next greatest employee, job, vendor, equipment, needing a referral or personal item. Visit CamTrader.ca to get on the most exclusive oil and gas network in the western Canadian oilpatch. Josh Groberman, Publisher [Read more]

Trudeau praises Redford for Keystone efforts

By Dean Bennett, The Canadian Press EDMONTON - Federal Liberal Leader Justin Trudeau has praised Alberta Premier Alison Redford for her efforts to get the United States to approve the Keystone XL pipeline. But Trudeau said Prime Minister Stephen Harper's government hasn't done enough to push the project. "This (federal) government hasn't done a very good job of reassuring either Canadians or our trading partners that we are serious about managing environmental sustainability," Trudeau [Read more]

Groups demand that head of new Alberta energy regulator resign before he starts

  EDMONTON – Almost three dozen landowner, labour, aboriginal and environmental groups are demanding that the man hired to head Alberta’s new energy regulator resign before he even starts. A letter signed by such organizations as the Treaty 8 First Nations, the Alberta Federation of Labour and the Canadian Association of Physicians for the Environment says industry insider Gerry Protti is not the appropriate choice. “I’ve seen biased appointments before, but this one tops the [Read more]

Kirby oilsands project ahead of schedule: CNRL

  CALGARY – Canadian Natural Resources Ltd.’s Kirby South oilsands project will start up sooner than planned, the company said Thursday as it reported quarterly earnings that missed analysts’ expectations. The Calgary-based company (TSX:CNQ) had originally planned for first-steam at the 40,000-barrel-per-day project in November, but now it’s looking like that will take place during the third quarter. The company also said the Kirby project remains on budget. Canadian Natural [Read more]

Petro-Canada stations running dry as repairs underway at Edmonton refinery

By The Canadian Press CALGARY - Some Petro-Canada stations are running out of gasoline because of repairs taking place at a refinery in Edmonton. Gasoline-producing units at the Edmonton refinery were supposed to keep running during a period of planned maintenance work, which began about a month ago. But during routine inspections, Petro-Canada discovered that repairs needed to be done and the gasoline units were taken out of service temporarily. "So as a result, we have had to stop [Read more]