EDMONTON - Alberta’s finance minister says taxpayers won’t be on the hook for much more beyond $1.3 billion already committed to the defunct Keystone XL pipeline. Travis Toews did not provide specifics on the final amount when speaking today to a budget review committee. But he says he doesn't expect taxpayers’ exposure will be, in his words, “materially” much more than what has been spent. Premier Jason Kenney and his United Conservative government had committed $1.5 billion and $6 [Read more]
Energy regulator invites comment on Trans Mountain pipeline’s insurer secrecy request
CALGARY - The Canada Energy Regulator is inviting public comment on a request by the operator of the Trans Mountain pipeline to protect the identity of its insurers, with the comment period extending beyond the requested deadline. In an online post, the federal regulator says it will accept comments on the proposal from the public until March 22 and Trans Mountain will be able to file reply comments until March 25. In its initial filing in February, the federal government-owned pipeline [Read more]
Attack on Saudi oil site fuels upward march for crude prices
BANGKOK - Oil prices remained elevated Monday as Saudi Arabian oil facilities were targeted by drone strikes just days after the largest crude exporting nations in the world said they would not increase output. Brent crude, the international standard, surpassed $70 per barrel for the first time in over a year. Even after it lost ground in afternoon trading, at $68.19 a barrel prices are still hoverning at levels not seen since the early days of last year. Benchmark U.S. crude oil also gave [Read more]
As debate rages over cross-border pipelines, U.S. analysts brace for more oil by rail
The fierce debate over cross-border pipelines is putting more Canadian oil and gas on trains destined for the United States — a country experts fear is ill-equipped for the potential consequences. It would take an oil-by-rail calamity of a scale comparable to the 2013 Lac-Mégantic disaster in Quebec before Americans wake up to the dangers, U.S. rail safety analysts say. "There's a bullet whizzing past our head," said Eric de Place, an energy policy expert and director at the Sightline [Read more]
Line 5 ‘very different’ from Keystone XL, Canada will fight hard for it, says O’Regan
WASHINGTON - Canada's natural resources minister is calling the cross-border Line 5 pipeline a "non-negotiable" element of talks with the United States. Seamus O'Regan is vowing to defend the underwater pipeline as he testifies before a special House of Commons committee on Canada-U.S. relations. Michigan Gov. Gretchen Whitmer has pledged to shut down the Enbridge pipeline, which links Wisconsin and Sarnia, Ont., through the Straits of Mackinac between lakes Michigan and Huron. O'Regan [Read more]
Shell Canada employing ‘agile teams’ to power energy transition and reduce emissions
CALGARY - The president and country head for Shell Canada says its transition into a provider of cleaner energy is being driven by a network of "agile teams" of employees who are examining between 30 and 40 project ideas at a time. Michael Crothers says the teams formed from employees brought in from various parts of the company are looking at proposals that include the use of hydrogen, biofuels, and wind and solar energy to help the company reduce its environmental impact. Speaking during [Read more]
Imperial Oil reports one-billion-barrel drop in bitumen reserves at end of 2020
CALGARY - Imperial Oil Ltd. is cutting one billion barrels from its inventory of oilsands bitumen following a year marked by low oil prices and budget cutting amid the COVID-19 pandemic and a global price war between major oil producers. In a regulatory filing on Wednesday, the Calgary-based company says its proved plus probable bitumen reserves fell to 4.46 billion barrels as of Dec. 31, 2020, from 5.45 billion barrels on the last day of 2019, with most of the change due to "technical [Read more]
Higher oil prices boosting Alberta’s bottom line as budget looms
Premier Jason Kenney says a recent bump in energy prices in the third quarter of the current budget is helping the bottom line as his government prepares to introduce its 2021-22 budget. The budget deficit was on track to exceed $21 billion this fiscal year, but Kenney said it will now be about $14 billion. Alberta Finance Department officials declined to confirm Kenney’s estimate. It’s been a roller-coaster ride for Alberta’s deficit this fiscal year, which ends March 31. The [Read more]
Keystone XL ‘clarity’ boosts Gibson Energy diluent recovery project, says CEO
CALGARY - The CEO of Gibson Energy Inc. says "clarity" about the future of the cancelled Keystone XL pipeline has prompted increased interest from potential customers in an expansion of its diluent recovery unit now under construction at the Hardisty crude transport hub in east central Alberta. Diluent, a light oil mixed with sticky, heavy bitumen from the oilsands to allow it to flow in a pipeline, makes up as much as a third of the volume of blended bitumen or "dilbit'' headed to U.S. [Read more]
TC Energy refuses to raise bid for TC PipeLines despite unitholder criticism
CALGARY - TC Energy Corp. says it has no intention of again sweetening its bid to buy out the other unitholders of TC PipeLines LP, a U.S. master limited partnership it operates, despite the vow of its largest non-affiliated investor to vote against the transaction. On Friday, Connecticut-based Energy Income Partners said it believes the offer of 0.7 common shares of TC Energy for each unit of TC PipeLines is inadequate and "significantly undervalues" its assets and growth potential. The [Read more]
- « Previous Page
- 1
- …
- 111
- 112
- 113
- 114
- 115
- …
- 553
- Next Page »