CALGARY - The Alberta Securities Commission is accusing the former CEO of Daylight Energy Ltd. of insider trading, along his ex-wife and her boyfriend. The watchdog said Monday it alleges Anthony Lambert bought shares in Daylight in August and September 2011 shortly before the oil and gas producer was acquired by Chinese firm Sinopec. The $2.2-billion deal was not disclosed publicly until Oct. 9, 2011. The transaction was completed in December of that year. The ASC also alleges Lambert [Read more]
Oilsands environmental data now public
By Heather Scoffield OTTAWA - Interested Canadians can now freely access environmental data from the oilsands now that the federal and Alberta governments have opened up a data portal to much of their scientists' work. Federal Environment Minister Peter Kent and his provincial counterpart Diana McQueen officially launched their joint oilsands monitoring data portal on Tuesday in an attempt to win the public's trust for further resource development. The portal, they said, goes [Read more]
Traders await slew of resource company earnings reports after dismal week on TSX
By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market could be set to move further into negative territory this week as a slew of resource companies deliver quarterly earnings reports. The TSX had a dismal week, closing down 2.2 per cent, leaving the main Toronto index down 2.95 per cent year to date, as a new round of worry sparked a selloff concentrated on resource stocks. Oil moved below US$90 a barrel and copper fell to an 18-month low after the International [Read more]
Conservatives mark Earth Day, open public access to oilsands monitoring data
By Heather Scoffield OTTAWA - The federal Conservatives have decided to mark Earth Day this year, launching a long-promised portal for public access to sensitive environmental data from the oilsands. Federal Environment Minister Peter Kent and his Alberta counterpart Diana McQueen will be at Carleton University in Ottawa on Monday to flick the switch and allow public scrutiny of new research measuring the quality and quantity of the land, air and water in the Athabasca [Read more]
Alison 2.0: Alberta’s Redford reinvents herself one year after election victory
By Dean Bennet EDMONTON - One year after Alison Redford won her first popular mandate, the Alberta premier remembers not only voting day, but the uneasy feeling just before she dropped the writ. It was last March 26. Redford stood in her cabinet meeting room and realized she might not see it again. "The most profound moment in this room was that last moment," said Redford in an interview, touching her high-backed chair beside the long, sprawling, oval wooden desk, hollow in [Read more]
Alberta government to partially fund five new oilsands projects
The Alberta government has announced it will partially fund 5 oilsands projects supported by the Innovative Energy Technologies Program. The companies receiving funds are: Canadian Natural Resources Limited, Cenovus Energy Inc., Imperial Oil Ltd., and Perpetual Energy. As part of an attempt to reduce fresh water use and enhance oil recovery in oil sands, the Alberta government will contribute a $33 million with the mentioned companies providing an aggregate $177 million. Read the release [Read more]
Oil price rises above $88 following sharp drops, ends week slightly higher
By The Associated Press The price of oil rose above US$88 a barrel on Friday as traders cautiously returned to commodity markets following sharp sell-offs this week. Benchmark crude for May delivery rose 28 cents to finish at $88.01 a barrel on the New York Mercantile Exchange. Crude has lost about $9 a barrel since the beginning of the month, as various reports highlighted slower growth in China and still-sluggish growth in the U.S. and elsewhere, while oil supplies remained [Read more]
Three premiers brainstorm ideas for a national energy plan
TORONTO – Leaders of three Canadian provinces met Friday to brainstorm the foundation of what they hope could become a national energy strategy. “We’ve identified broad areas that we’re working on today,” Manitoba Premier Greg Selinger said after the meeting at a downtown Toronto hotel. “The idea now is to take these themes (and) develop the specific strategies with deliverables and practical projects.” Selinger outlined the initial steps of the plan to reporters alongside [Read more]
Will eastern oil pipelines lead to lower prices at the pump for Canadians?
By Lauren Krugel CALGARY - The Conservatives in Ottawa are staunch supporters, the New Democrats have called it a "win-win-win" and the premiers of Alberta and New Brunswick have loudly touted the benefits of an oil pipeline from west to east. But the degree to which Eastern consumers will benefit at the pump is unclear, as it's up to the pipeline's customers — oil producers at one end and refineries at the other — to determine which barrels go where. "One thing that I've [Read more]
TransForce doesn’t see improvement in Alberta oil rigging business
MONTREAL - Alberta's oilsands production may be thriving, but TransForce doesn't foresee any improvement this year for North American oil drilling. The trucking company, which among other things moves drilling equipment, posted weaker results in the first quarter as energy sector revenues dropped 24 per cent and margins plummeted. Chief executive Alain Bedard told analysts Friday that he foresees an eventual improvement in the U.S. energy sector as the country seeks energy [Read more]
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