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BOE Report Staff

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Enbridge, EDF Energies buy $600-million Alberta wind project from Greengate

By The Canadian Press TORONTO - Enbridge Inc. (TSX:ENB.TO ) and a subsidiary of EDF Energies Nouvelles have teamed up to buy the Blackspring Ridge wind project in Alberta on a 50-50 basis. The project was acquired from Greengate Power Corp., which says Blackspring Ridge represents a $600-million investment in wind energy. Financial details of the transaction weren't disclosed in Monday's announcement. When completed, it will have 166 turbines — making it the biggest wind power [Read more]

Natural gas surges to 20-month high

By BOE Report staff Natural gas prices have been rising quickly in recent months as cold weather blanketed the United States through March and into early April. Half of U.S. homes use natural gas for heating. NYMEX natural gas rose 4.6 per cent Friday to close at $4.13 per thousand cubic feet. That's the highest close for natural gas since August 2011. The price has doubled since last year at this time, when the nation was emerging from the warmest winter on record. AECO gas finished up [Read more]

OY VEY! Group concerned about “climate change” proposes warning labels for gas nozzles

  TORONTO – An environmental group focused on the dangers of climate change is lobbying for Canadian municipalities to pass bylaws that would require warning labels on gas station pump nozzles. Lawyer Robert Shirkey says the warning labels on the nozzles would be similar to those found on cigarette packages and would act to warn users of the negative effects of fossil fuels. “The future of the planet is literally in the palm of your hand (when you pick up the nozzle),” Shirkey, [Read more]

Canadian Natural Resources spends about $345.9 million on stock buyback program

  CALGARY - Canadian Natural Resources Ltd. (TSX:CNQ.TO) spent about $345.9 million buying back its own shares on the public market over the past year, according to figures released Friday by the Calgary-based oil and gas company. CNQ says it has repurchased 11,886,200 shares on the Toronto and New York stock exchanges at a weighted average price of C$29.10 under a 12-month buyback program that ends April 8. Most of the shares were repurchased by the end of the first quarter, at a [Read more]

TSX racks up 3rd day of losses amid weak U.S. jobs data, lower commodity prices

By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market closed lower for a third session Thursday as further weak employment data raised worries about slowing U.S. economic conditions. The S&P/TSX composite index fell 59.07 points at 12,363.05. On Wednesday, two soft economic reports and growing geopolitical risks had sent the main index tumbling 260 points, erasing TSX gains for the year. The Canadian dollar edged up 0.21 of a cent to 98.78 cents US. U.S. [Read more]

SNC-Lavalin renewal hits boardroom with departure of chairman, three others

By Ross Marowits, The Canadian Press MONTREAL - Embattled engineering giant SNC-Lavalin's efforts to turn the page on its troubled past is moving from the executive suite to the boardroom. After hiring a series of new executives in the past year, including a CEO and chief financial officer, the company says one-third of its directors including chairman Gwyn Morgan won't stand for re-election at its annual meeting next month. Including three new directors who will be elected at the [Read more]

Alberta environment minister says CARBON TAX talks in early stages

  EDMONTON - Environment Minister Diana McQueen says Alberta is a long way from imposing higher carbon levies on its energy industry. Responding to a story in the Globe and Mail, McQueen on Thursday acknowledged that she's working with her federal counterpart on a new climate change policy. But she said those talks are preliminary and nothing specific has been determined. "We are currently in the early stages of exploring a variety of options through a collaborative process with [Read more]

Natural gas withdrawal beats estimates

Working gas in storage was 1,687 Bcf as of Friday, March 29, 2013, according to EIA estimates. This represents a net change of -94 Bcf beating analyst estimates of ~-90 Bcf. Stocks were 779 Bcf less than last year at this time and 37 Bcf below the 5-year average of 1,724 Bcf. [table] [attr style="width: 25%"]`[attr style="width: 25%"]March 29`[attr style="width: 25%"]March 22`[attr style="width: [Read more]

TSX sinks more than 2% on economic growth worries, threats from North Korea

By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market tumbled about two per cent Wednesday, shedding all its year-to-date gains amid worries that the American economy is faltering and geopolitical concerns centred around threats from North Korea. The S&P/TSX composite index plunged 259.98 points to 12,422.12 in a selloff spread across most sectors in the wake of a report that had traders reconsidering their expectations for March job gains and other data pointing [Read more]

Shell submits Kitimat LNG project plans to environmental review agencies

  VICTORIA - Shell Canada Ltd. (TSX:SHC) has sent its plans to build a $4-billion pipeline and liquefied natural-gas export terminal at Kitimat in northwestern British Columbia to federal and provincial environmental regulatory agencies. Shell's plans, which are now among at least a half-dozen proposed B.C. LNG developments, include building a natural-gas pipeline from northeastern B.C. to Kitimat, where the liquefied gas will be loaded onto tankers and shipped to Asia. The LNG [Read more]