VANCOUVER - The first half of a $100-million federal fund directed at cleaning up dormant oil and gas wells in British Columbia has been disbursed. Energy Minister Bruce Ralston says work is underway to reclaim wells that have been inactive for at least five years and aren't likely to come back into service. He says applications to receive a share of the second $50-million instalment will open on Nov. 1, allowing B.C.-based companies to hire local workers to clean up about 2,000 dormant … [Read more...]
Alberta premier says cross-country Energy East pipeline remains a possibility
CALGARY - Alberta's premier says new federal Conservative Leader Erin O'Toole was just stating the obvious when he indicated the Energy East pipeline project was off the table in a conversation with the premier of Quebec. Jason Kenney says the proposed cross-Canada pipeline isn't on the table because the federal Liberal government killed it in 2017. Kenney says one of his first calls as premier was to contact his Quebec counterpart and ask him to reconsider his opposition to such a … [Read more...]
Trans Mountain pipeline expansion on schedule, budget after one year, says CEO
CALGARY - A year after construction was allowed to restart on the Trans Mountain pipeline expansion, it's chief executive says it is on budget and on schedule for completion by the end of 2022. In an interview, CEO Ian Anderson says the project is advancing as expected despite challenges including the COVID-19 pandemic, a global slump in demand for fuel, a $5.2-billion rise in its estimated cost to $12.6 billion in February and ongoing protests by opponents. The expansion project is … [Read more...]
Moe asks Trudeau to make oil and gas commitment in upcoming throne speech
REGINA - Saskatchewan Premier Scott Moe says he wants to hear the federal government make a commitment to the oil and gas industry in next week's throne speech. Moe has sent a letter to Prime Minister Justin Trudeau and federal opposition leaders outlining what he would like to see addressed. Saskatchewan has no Liberal seats in the House of Commons, and Moe says he wrote the letter with the hope that the province's interests will be represented in the Sept. 23 speech. He says people in … [Read more...]
N.L.’s struggling oil sector dominates debate as legislature reopens
ST. JOHN'S, N.L. - Newfoundland and Labrador's struggling offshore oil industry dominated discussion today at the reopening of the province's legislature. The legislature resumed so the minority Liberal government could adopt a supply bill to keep operations running until a proper budget is passed later this month. But recent news that Husky Energy is considering axing its $2.2-billion West White Rose offshore oil project grabbed most of the attention. The company says it's reevaluating … [Read more...]
Freehold Royalties reports unexpected resignation of CEO Thomas Mullane
Calgary-based Freehold Royalties Ltd. says its president and CEO, Thomas Mullane, has resigned effective today, without saying why. It says chief operating officer David Spyker has been appointed to the role on an interim basis until a permanent CEO is hired. In a report, CIBC Capital Markets analyst Jamie Kubik says the event comes as a surprise but likely won't affect the company's business strategy. Mullane joined Freehold in 2012 and was appointed president and CEO in 2013, while … [Read more...]
Cleaner LNG one answer to climate change crisis, O’Regan tells investors
OTTAWA - Natural Resources Minister Seamus O'Regan is making a pitch to global energy investors that Canadian LNG is their best choice to invest in sustainable and competitive natural gas production. His speech at the virtual Gastech 2020 conference today comes a little more than two weeks before Prime Minister Justin Trudeau is set to unveil his promised "ambitious green agenda" in a throne speech laying out his government's COVID-19 economic recovery plan. In his speech, O'Regan hints at … [Read more...]
PetroChina and Ovintiv end joint venture deal, agree to split Alberta assets
CALGARY - PetroChina Canada Inc. says it will be hiring engineers and technical specialists as it creates a new operating team after the end of an eight-year partnership in an Alberta oilfield. PetroChina and Ovintiv Inc. — formerly known as Encana Corp. — say they have agreed to terminate their joint venture formed in 2012 to own and develop Duvernay shale assets in west-central Alberta. The acreage is being split between the two and each will wind up with the same production of about … [Read more...]
Oilsands diluent pipeline partly closed following spill near Fort McMurray
CALGARY - Operator Inter Pipeline Ltd. says it has partially shut down its Polaris pipeline system following a leak detected on Crown recreational land just east of the Fort McMurray airport in northern Alberta. According to the Alberta Energy Regulator, initial reports indicated about 550 barrels or 90,000 litres of light oil were released with no reported impacts to waterbodies or wildlife. The pipeline is used to move light petroleum such as condensate from Edmonton to the region where … [Read more...]
Oilpatch capital spending fell by 54% in second quarter, StatCan reports
CALGARY - Statistics Canada says capital spending in the country's oil and gas sector fell by 54 per cent in the quarter ended June 30 as numerous producers chopped budgets amid sliding global oil prices. The federal agency says the industry spent about $3.88 billion in the three-month period, down from $8.46 billion in the first quarter and $8.59 billion in the second quarter of 2019, as a global price war and demand destruction caused by the COVID-19 pandemic eroded crude prices. In … [Read more...]
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