FORT MCMURRAY, Alta. - Suncor Energy Inc. says it is standing down mine operations at an oilsands site in northern Alberta following the deaths of two workers. Company spokeswoman Jennifer Lomas says a dozer hit a light-vehicle truck at the Fort Hills mine north of Fort McMurray about 5:30 p.m. Monday. She had no other details about the accident. The two workers were employed by Clearstream, a company contracted for services at the site. Provincial investigators with Occupational [Read more]
Regulator reports spill of 2,500 barrels of produced water from Alberta pipeline
Contaminated water that leaked from an oilfield pipeline on Christmas Day has entered the North Saskatchewan River but has had no detectable impact on it, says a spokesman for Calgary-based oil and gas producer ARC Resources Ltd. The spill was reported by a local landowner at about 2 p.m. last Friday, said Sean Calder, ARC’s vice-president of production, in an interview on Tuesday. “We had guys on site within about an hour and then the pipeline was shut in by 4 p.m., I believe,” he [Read more]
Newfoundland’s Hibernia offshore oil project gets $38 million in federal aid
ST. JOHN'S, N.L. - Newfoundland and Labrador Premier Andrew Furey says the $38 million his government is giving the Hibernia offshore oil project will protect about 148 jobs over 18 months. Furey made the announcement today, saying the money comes from a pot of $320 million offered to the province by the federal government in September to bolster the floundering oil industry. Stephen Edwards, president of the Hibernia Management and Development Company, says the money will help it increase [Read more]
Bonterra urges shareholders to ignore extended hostile takeover bid by Obsidian
CALGARY - Bonterra Energy Corp. says it remains steadfastly opposed to a hostile takeover bid by Calgary oil and gas rival Obsidian Energy Ltd. after the latter extended its share tender deadline on Monday. The target company says in a news release the extension to Jan. 25 from Jan. 4 shows how unsuccessful the offer to issue two Obsidian shares for each Bonterra share has been since it was proposed in August. Bonterra adds that Obsidian's announced reduction of the minimum number of [Read more]
Canadian crude-by-rail exports fall slightly in October to 92,800 barrels per day
CALGARY - Canadian exports of crude oil by rail fell only slightly in October from September, a rare period of stability in a year that's included a record high month as well as one that saw an eight-year low. The Canada Energy Regulator says rail shipments of oil in October amounted to 92,800 barrels per day, down from 94,440 bpd shipped in September, but off by two-thirds from 270,000 bpd in October 2019. Only 39,000 bpd were shipped in July, an eight-year low that was less than a tenth [Read more]
Observers see rays of hope for 2021 in Canada’s gloomy oil and gas sector
CALGARY - The sombre mood that has gripped the Calgary-based oilpatch for several years is starting to show flickers of hope, with more financially secure companies making moves to grow in 2021. Recent export pipeline news is offsetting the ongoing reality of volatile commodity prices, general investor distaste for the sector and regulatory uncertainty and leading to more mergers and targeted increases in capital spending plans, observers say. "The oilpatch has changed again. I think it's [Read more]
Altlantic provinces’ appeal for delay in federal Clean Fuel Standard goes unheeded
A last-minute push by the Atlantic provinces to have Ottawa delay and further study its proposed new Clean Fuel Standard was not reflected in draft regulations published Friday. In a joint letter sent Nov. 30, the energy ministers from the four Atlantic provinces had asked federal Environment Minister Jonathan Wilkinson to conduct more detailed analysis before presenting the national fuel standard. The standard is intended to reduce greenhouse gas emissions by reducing the carbon in fuels [Read more]
Husky shareholders back friendly takeover by Cenovus for $3.8 billion in shares
CALGARY - Husky Energy Inc. shareholders have approved a $3.8-billion all-share takeover bid by rival Cenovus Energy Inc., hours before Cenovus shareholders are widely expected to do the same. The endorsement by Husky investors was resounding, with more than 95% of votes cast in favour of the acquisition. Frank Sixt, a director of Husky Energy, told a special shareholder meeting today he's confident the new company will be more competitive, profitable, and sustainable. The acquisition [Read more]
Pembina plans $785M in capital spending for 2021, restarts work on two key projects
CALGARY - Pembina Pipeline Corp. is planning $785 million in capital spending next year as it moves to restart work on two key projects. The company says it will resume construction of the next phase of its Peace Pipeline expansion and go ahead with the restart of its Empress co-generation facility. The pipeline expansion includes a new pipeline and associated infrastructure in the LaGlace-Valleyview-Fox Creek corridor in Alberta. Pembina says the initial capacity has been reduced to [Read more]
Inter Pipeline announces $1 billion spending plan
CALGARY - Inter Pipeline Ltd. says it will shell out $1 billion in capital expenditures in 2021 as it pushes to finish its petrochemical plant. The Calgary-based company says it will spend $800 million next year on the Heartland Petrochemical Complex, which it now expects to start up in early 2022. The update on the plant comes after the company said last month it would find a partner for the plant by the middle of next year. Inter Pipeline says the rest of its capital spending will be [Read more]
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