CALGARY - An Indigenous-led group says it will soon be ready to make a bid for majority ownership of the controversial Trans Mountain pipeline currently owned by the federal government. The group, called Project Reconciliation, says it will be prepared as early as next week to talk with Ottawa about its proposal for a 51 per cent stake in the pipeline. Project Reconciliation says the bid will be underwritten by contracts with pipeline customers and not rely on taxpayers. [Read more]
TC Energy sells U.S. midstream assets in Appalachian Basin for $1.7 billion
CALGARY - TC Energy Corp. has signed a deal to sell U.S. midstream assets held by its subsidiary, Columbia Midstream Group, to UGI Energy Services LLC for $1.7 billion. Columbia Midstream Group owns four natural gas gathering systems and an interest in a company with gathering, processing and liquids assets in the Appalachian Basin. TC Energy Russ Girling says the sale is part of the company's efforts to prudently fund its portfolio of natural gas pipeline, liquids pipelines and [Read more]
The federal price on carbon takes effect in Yukon and Nunavut July 1
Starting today, the federal carbon levy will be applied in Yukon and Nunavut, while the Northwest Territories is set to implement its own price on carbon in September. The Yukon government says carbon emissions will be taxed at a rate of $20 per tonne for the rest of 2019, before rising each year starting on April 1 until the tax reaches $50 per tonne in 2022. The costs of gasoline, diesel and propane will go up, while the federal carbon pricing act includes targeted relief for [Read more]
Higher oil prices, more tax income: Alberta ends 2018-19 with smaller deficit
EDMONTON - Newly released figures show the Alberta government ended the last fiscal year with a deficit more than $2 billion smaller than originally predicted in the budget. Higher oil prices and more than $800 million in additional tax revenue are being credited for shrinking the red number. The figures show resource revenue was up $1.6 billion from what was expected in the 2018-19 budget — the last brought in by Rachel Notley's NDP before a provincial election loss earlier this year to [Read more]
B.C. to argue for injunction on Alberta’s turn-off-the-taps law in Calgary court
CALGARY - British Columbia's request for an injunction against Alberta's so-called turn-off-the-taps law is to be heard in a Calgary courtroom today. The legislation allows Alberta to crimp energy shipments to B.C. if it stands in the way of a major pipeline expansion to the west coast. B.C. filed a statement of claim in Alberta Court of Queen's Bench last month calling the law unconstitutional. The legislation was passed — but never used — by Alberta's former NDP government as a way to [Read more]
No pipeline fireworks as Western premiers emerge from annual meeting in Edmonton
EDMONTON - Canada's western and northern leaders pushed Thursday for reducing trade barriers and building trade corridors while avoiding a bunfight on the contentious Trans Mountain pipeline. Alberta Premier Jason Kenney and his B.C. counterpart John Horgan amicably agreed to continue to disagree on the pipeline expansion project that would carry Alberta oil to the West Coast. Horgan even made a joke about being the lone New Democrat at the table with Kenney, Saskatchewan's Scott Moe and [Read more]
Pipeline spill spoils geothermal project announcement for oil company
CALGARY - A junior oil company is announcing government funding for an environmentally friendly geothermal power project at the same time that it is cleaning up a spill of oil and water from a pipeline in northern Alberta. Calgary-based Razor Energy Corp. said Thursday it will receive $5 million from Natural Resources Canada's Clean Growth Program and $2 million from Alberta Innovates to assist in development of a $15-million to $20-million geothermal plant capable of generating three to [Read more]
Alberta raises oil quotas for August as rail exports grow, storage levels slip
CALGARY - The Alberta government says it will ease its oil production curtailment program by 25,000 barrels per day in August. The province is citing growing crude-by-rail capacity, declining oil inventory levels and improved efficiencies in export pipelines for the move. Last week, the National Energy Board reported crude-by-rail exports in April reached 236,000 bpd, a 40 per cent increase over March, but still down from the record high of 353,800 bpd in December. The [Read more]
Gas prices could rise after fire-stricken refinery closes
The largest oil refinery on the East Coast said Wednesday that it will close after a devastating fire last week that set off explosions and damaged equipment, and analysts said consumers could see gas prices rise as summer travel hits full swing. Philadelphia Energy Solutions sent a notice to state labour officials that it will shut the plant down Monday and lay off about 1,020 workers there in the next two weeks after that. The fire significantly damaged equipment and systems at a complex [Read more]
Calgary selected by World Petroleum Council to host oil and gas forum in 2023
Calgary has been selected to host the World Petroleum Congress in 2023, beating out four other global cities in voting that took place in St. Petersburg, Russia. The World Petroleum Council selected Calgary to host its global oil and gas forum in a fourth ballot early Sunday, where the other remaining contender was Baku, Azerbaijan. Held once every three years, the congress attracts industry and government leaders from around the world including government heads of state and [Read more]
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