BOE Report

Pipeline blast forces FortisBC to the open market for natural gas supply

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VANCOUVER - FortisBC is looking at several options to boost its stock of natural gas in an effort to get its customers through the winter after a pipeline blast squeezed off supply. Sean Beardow, manager of corporate communications with Fortis, says the flow through the Enbridge pipeline that exploded in flames near Prince George last month has reached about 55 per cent, far below what they'll need this winter. He says the company is getting more fuel from an Alberta pipeline and has [Read more]

Energy board to hear traditional Indigenous evidence in Trans Mountain review

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VANCOUVER - The National Energy Board will hear oral traditional evidence from Indigenous groups in the coming weeks as part of its new review of the Trans Mountain pipeline expansion. The Federal Court of Appeal struck down the federal government's approval of the project in August, citing inadequate Indigenous consultation and the energy board's failure to review the project's impacts on the marine environment. Prime Minister Justin Trudeau's government ordered the energy board to review [Read more]

Imperial Oil going ahead with construction of $2.6B Aspen oilsands project

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CALGARY - Imperial Oil Ltd.'s commitment to begin construction this year on its $2.6-billion Aspen oilsands project in northern Alberta comes less than a week after it received long-awaited approval from the Alberta government. The speed of the announcement Tuesday surprised observers who have watched Calgary oilsands rivals including Canadian Natural Resources Ltd., Cenovus Energy Inc. and MEG Energy Corp. announce production cuts to avoid steep discounts currently being paid for [Read more]

Painted Pony warns natural gas output will fall due to B.C. pipeline explosion

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CALGARY - Oil and gas producer Painted Pony Energy Ltd. says its fourth-quarter production will drop by up to 20 per cent because of reduced shipping capacity after the explosion of a natural gas pipeline in B.C. A line in Enbridge Inc.'s T-South pipeline system ruptured on Oct. 9, about 15 kilometres northeast of Prince George, B.C., causing a huge fireball. Repairs were completed at the end of October and service is gradually being restored — but both the affected line and a [Read more]

Spy service says federal pipeline purchase seen as ‘betrayal’ by many opponents

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OTTAWA - Canada's spy agency says many members of the environmental and Indigenous communities see the federal purchase of the Trans Mountain pipeline as a betrayal, and suggests that could intensify opposition to expanding the project. A Canadian Security Intelligence Service assessment highlights a renewed sense of indignation among protesters and clearly indicates the spy service's ongoing interest in anti-petroleum activism. The Canadian Press used the Access to Information Act to [Read more]

British Columbia faces lawsuit: Fracking dams exempted from environmental review

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VANCOUVER - A conservation group is suing the British Columbia government for exempting two oilpatch dams from environmental rules years after the dams were built. "It seems like the government was really playing catch-up," Olivia French, the lawyer handling the lawsuit for the B.C. Sierra Club, said Monday. "Progress Energy acted with a bit of disregard for B.C.'s laws — one of those typical, 'Ask for forgiveness, not for permission' sort of positions," said French. The [Read more]

Ensign shares jump as driller notes lower loss, higher revenue in third quarter

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CALGARY - Shares in Ensign Energy Services Inc. closed about eight per cent higher at $5.49 Monday after it reported a smaller loss in its third quarter compared with a year ago, while revenue grew 17 per cent. The drilling company says it lost $32.8 million or 21 cents per share on revenue of $289 million, compared with a loss of $36.5 million or 23 cents per share on revenue of $247 million in the third quarter of 2017. The results closely matched analyst expectations, [Read more]

New Trans Mountain pipeline review doomed to fail: Vancouver mayor-elect

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Vancouver's incoming mayor says a revamped National Energy Board review of the Trans Mountain pipeline expansion is likely doomed to fail and will land the federal government back in a courtroom. The energy board is reviewing the project's impacts on the marine environment and Kennedy Stewart says it's too rushed, including a week-long window for Indigenous groups and others to apply to participate. "I do think the revamped NEB process we're going through probably is going to fail again. I [Read more]

New Brunswick’s next premier is a fiscal hawk and former Irving Oil executive

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The man poised to become New Brunswick's next premier has a well-earned reputation as a tight-fisted fiscal manager whose resume includes 33 years as a senior executive working for one of Canada's richest families: the Irving clan. Progressive Conservative Leader Blaine Higgs, a 64-year-old engineer and former finance minister, was hired by Irving Oil a week after he graduated from the University of New Brunswick. He was eventually promoted to director of distribution, overseeing oil [Read more]

Imperial reports $749 million profit for Q3 with refining and sales boost

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CALGARY - Imperial Oil Ltd. says it earned $749 million in the third quarter to more than double its profit from last year. The company says the profit worked out to 94 cents per share for the quarter ending Sept. 30, compared with a profit of $371 million or 44 cents per share for the same quarter last year. The results beat the 85 cents per share profit expected by analysts, according to Thomson Reuters Eikon. The company's downstream division, which includes refining [Read more]