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BOE Report Staff

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Canadians must fight U.S. protectionism in the energy sector, Prentice says

By Heather Scoffield, The Canadian Press OTTAWA - Former Conservative cabinet minister Jim Prentice says Canadians need to step up their efforts to maintain free and open energy markets for Canada's oil, gas and electricity in the United States. Prentice, who is now a vice-president at CIBC, is in Halifax Tuesday to discuss how Canada will fare in a North America that is on the verge of being energy independent. "If we play our cards right, there will be profound opportunities for [Read more]

Suncor shares rise on dividend hike, share buyback, earnings beat

By Lauren Krugel, The Canadian Press CALGARY - Shares in Suncor Energy Inc. rose nearly five per cent Tuesday after Canada's biggest energy company hiked its dividend 54 per cent, announced a $2-billion share buyback and delivered first-quarter operating earnings that beat expectations. Suncor shares were at $31.02 in late-morning trading on the Toronto Stock Exchange, an increase of $1.38. Late Monday, Suncor announced that its quarterly dividend, payable June 25, will rise to 20 cents [Read more]

Deputy Alberta energy minister named chief executive of new provincial regulator

  CALGARY - Alberta's former deputy minister of energy and environment has been named CEO of the province's new oil and gas regulator. Jim Ellis will handle the day-to-day operations of the revamped energy watchdog, which has a $200-million budget and will employ nearly 1,000 people. Ellis says a big part of his job will be ensuring Alberta has good environmental oversight for Canadian oil and gas sold to international customers. The inability to access the best paying markets - [Read more]

Woah! Former Liberal prime minister intends to let Americans know the benefits of Keystone

  CALGARY - A former Liberal prime minister says he plans to head to Washington, D.C., to speak out in favour of the Keystone XL pipeline. John Turner, who is 83, says he intends to spend time with Canadian Ambassador Gary Doer before meeting with some leaders in both the U.S. Congress and Senate. "I may be introducing him to a few people," said Turner with a chuckle while attending a luncheon speech in Calgary on Monday. "I'd like to meet with the president, No. 1, but I doubt [Read more]

Canada rig count little changed from last week, down from prior year count

[table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr style="width: 15%"]Gas`[attr style="width: 15%"]Total [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`66`56`122 Last Week`65`61`126 Last Year`76`58`134 Week over Week Change`+1`-5`-4 Year over Year Change`-10`-2`-12[/table] [table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr [Read more]

TransCanada says Keystone XL likely won’t be operating until second half of 2015

  CALGARY - TransCanada Corp. (TSX:TRP) said Friday its controversial and long-delayed Keystone XL pipeline will likely be in service in the second half of 2015 — months later than its previous estimate as the company continues to await U.S. government approval for the project. TransCanada had been sticking to its late 2014 or early 2015 start up target, though the later in the year a decision is announced, the harder it will be to meet that schedule. It added that the estimated [Read more]

TransCanada Q1 earnings short of analyst estimates, sticks to 2015 as Keystone start-up target

  CALGARY - TransCanada Corp. (TSX:TRP) has reported increased first-quarter profit and revenue but its comparable earnings came in short of analyst estimates. The Calgary-based pipeline and power company's says its comparable earnings were $370 million or 52 cents per share — two cents per share below a consensus estimate but up from $363 million a year earlier. Its net income attributable to shareholders was $446 million, or 63 cents per share, up from 50 cents per share or $352 [Read more]

Ron “The Taxman” Liepert decrees need for Alberta sales tax

  LETHBRIDGE, Alta. - A former Alberta finance minister says it's time to talk about a provincial sales tax. Ron Liepert says having a PST could help level out the peaks and valleys in Alberta's revenue, which he says is tied too closely to oil prices. Speaking in Lethbridge, Liepert said he believes Albertans want to talk about the options. Liepert also suggested it's odd to suggest Albertans don't pay a sales tax because the federal GST has been around for more than 20 [Read more]

Massive Kearl oilsands mine ready to start up any day now, Imperial CEO says

Lauren Krugel, The Canadian Press CALGARY – With Imperial Oil Ltd.’s Kearl oilsands mine ready to start up any day now, CEO Rich Kruger shrugged off concerns about whether the already tight North American market can soak up another 110,000 barrels of crude a day. “Start up is imminent,” Kruger told reporters following the company’s annual general meeting on Thursday. “It’s real soon. We’re right on the cusp of starting up.” Late last year and early this year, the price gap between [Read more]

Natural gas storage builds at expectations

Working gas in storage was 1,734 Bcf as of Friday, April 19, 2013, according to EIA estimates. This represents a net change of +30 Bcf;in-line with analyst estimates of ~+30 Bcf.Stocks were 807 Bcf less than last year at this time and 94 Bcf below the 5-year average of 1,828 Bcf. [table] [attr style="width: 25%"]`[attr style="width: 25%"]April 19`[attr style="width: 25%"]April 12`[attr style="width: [Read more]