CALGARY - AltaGas Ltd. says it may be forced to increase its ownership share in Petrogas Energy Corp., an oil and gas liquids handling firm that owns and operates a propane export terminal in Washington state. The Calgary-based utility, power and pipeline company says privately held SAM Holdings Ltd. has given notice it will exercise an option that requires an AltaGas-led joint venture to buy SAM's remaining one-third share in Petrogas at fair market value. In a news release, AltaGas says [Read more]
B.C. Supreme Court grants natural gas pipeline company interlocutory injunction
VANCOUVER - The British Columbia Supreme Court has granted Coastal GasLink an interlocutory injunction against members of a First Nation and others who oppose the company's natural gas pipeline. The company is building a pipeline from northeastern B.C. to LNG Canada's export terminal in Kitimat on the coast. Coastal GasLink says it has signed agreements with all 20 elected First Nations councils along the 670-kilometres route but hereditary chiefs in the Wet'suwet'en First Nation say the [Read more]
Kenney takes blowtorch to NDP policies in 2019, aims for jobs progress in 2020
EDMONTON - In 2019, Alberta Premier Jason Kenney made good on his promise to take a blowtorch to core policies enacted by the former NDP government. In 2020, the goal of the United Conservative Party leader will be to get traction on his signature promises to bring in more jobs, boost the economy, get more pipelines going and balance the books in three years. He'll need to do it as Albertans grapple with higher costs for tuition, school and municipal fees flowing from Kenney's [Read more]
TC Energy to sell a 65 per cent equity interest in Coastal GasLink pipeline
CALGARY - The company behind the $6.2-billion Coastal GasLink pipeline in British Columbia says it's made a deal to sell a 65 per cent equity interest in the project. TC Energy Corp. says in a news release that it has entered into an agreement for the sale to KKR and Alberta Investment Management Corporation (AIMCo), on behalf of certain AIMCo clients. The pipeline's planned 670-kilometre route from northeastern B.C. to LNG Canada's export terminal in Kitimat is intended to deliver natural [Read more]
Oilpatch buyers expected to stay on the sidelines in 2020, analysts say
CALGARY - A mindset of "hunkering down" in the face of persistent headwinds means mergers and acquisitions activity in Canada's oilpatch will likely remain at low ebb in 2020, analysts say. A recent spate of consolidation of producers in prolific Texas oilfields — WPX Energy announced the US$2.5-billion purchase of Felix Energy last week — has some investors wondering when the same thing will happen in Canada, particularly in the rich Montney resource play on the northern Alberta-B.C. border, [Read more]
Crude-by-rail exports fall 15% in October as price differential tightens
CALGARY - The Canada Energy Regulator says exports of crude oil by rail fell by 15 per cent in October to 270,000 barrels per day from 319,600 bpd in September. The October number is the lowest in six months and well below the record high of 354,000 bpd set in December of 2018. The regulator blames the decrease on narrower price difference between prices Western Canadian Select bitumen-blend oil in Alberta and U.S. benchmark West Texas Intermediate in New York. It costs more to ship oil [Read more]
Alberta drilling rights auctions post record low returns for province
CALGARY - A key indicator of future oil and gas drilling activity in Alberta has fallen to a record low as pipeline capacity constraints continue to restrain oilpatch spending. This week's auction of Crown drilling rights — which allow energy exploration on land where mineral rights are held by the province — raised just $3.9 million for the Alberta treasury, bringing the 12-month total to $119 million. That's less than the previous low mark of $137 million set in 2016 amid depressed [Read more]
Alberta Appeal Court reserves ruling in federal carbon tax challenge
EDMONTON - The Alberta Court of Appeal has reserved its decision in the provincial government's challenge of the federal carbon tax. After three days of submissions, the court said it would issue a ruling as soon as it's able but not this week. Lawyers representing the federal government argued the climate crisis is the "greatest existential threat of our time." They said the Constitution gives Ottawa the authority to establish standards on greenhouse gas emissions because climate is a [Read more]
Ottawa’s consultation with Indigenous groups on pipeline was meaningful: Lawyer
VANCOUVER - Lawyers for the Canadian government say it conducted a new round of consultations with Indigenous groups about the Trans Mountain pipeline expansion that was reasonable, adequate and fair. Jan Brongers began arguments on behalf of the federal government today asking the Federal Court of Appeal to toss out legal challenges to the government's approval of the project for the second time. The court has heard from four Indigenous groups in British Columbia that say the government [Read more]
Canada argues in court: National measures needed to address ‘climate crisis’
EDMONTON - Lawyers for the federal government are defending Canada's carbon tax by saying the climate crisis requires national measures. The law that brought in the federal levy is being challenged by Alberta in the province's Court of Appeal this week. Sharlene Telles-Langdon, in her opening arguments in support of Ottawa, called climate change the greatest challenge of our time. She said the problem and the scientific understanding of it have grown enough that federal action is [Read more]
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