CALGARY - South Bow Corp. aims to gradually return its Keystone pipeline to normal operations next year, as the system continues to run at reduced pressure following an April spill in North Dakota. Chief operating officer Richard Prior says the company has seen no evidence of a systemic issue with the Alberta-to-Texas network after the six in-line inspections and 37 integrity digs it's done. A segment of the pipeline ruptured this spring and released more than 556,000 litres of oil onto [Read more]
New major projects list has some Indigenous buy-in, Carney says OKs still needed
OTTAWA - After an initial round of referrals to the new Major Projects Office that saw no Indigenous-led projects chosen, the second list of referrals includes some with Indigenous support, ownership or backing — including a liquefied natural gas project. The list of projects earmarked for fast-track approval includes the Crawford nickel mine in Ontario, the Ksi Lisims LNG project on B.C.'s northwest coast, and the North Coast Transmission Line to power projects in the region, including the [Read more]
Enbridge spending US$1.4 billion to increase shipping capacity to U.S. markets
CALGARY - Enbridge Inc. has announced plans to spend US$1.4 billion to increase its capacity to ship Canadian heavy oil to the United States. The company says it has reached a final investment decision to add capacity on its Mainline network and its Flanagan South pipeline. The move comes as it says it faces customer demand to increase deliveries of Canadian heavy oil to key refining markets in the U.S. Midwest and Gulf Coast. Enbridge says it will add 150,000 barrels per day of [Read more]
Alberta’s Smith supportive of new major projects, says pipeline negotiation ongoing
CALGARY - Alberta Premier Danielle Smith says she's on board with Prime Minister Mark Carney's second batch of key major projects picked out for potential fast-track approval. Carney announced Thursday that seven additional major energy and infrastructure projects were being referred to his government's major projects office, after announcing an initial list of five back in September. The second list includes a nickel mine in northern Ontario, a hydroelectric project in Iqaluit, and a [Read more]
What is Ksi Lisims LNG, B.C. project being fast tracked by Feds?
TERRACE, BRITISH COLUMBIA, CANADA - The Ksi Lisims LNG facility in northern British Columbia and the North Coast Transmission Line that is planned to power it are among major projects that Prime Minister Mark Carney says will be reviewed for fast-track permitting and approval. Here are some facts about Ksi Lisims LNG, which has already been prioritized by the B.C. government. What will Ksi Lisims LNG do? The project is designed to be a massive LNG export facility in waters off the [Read more]
MEG takeover saga draws to close as Cenovus completes purchase
CALGARY - Oilsands giant Cenovus Energy Inc. has completed its takeover of MEG Energy Corp. The two companies had neighbouring properties in the oilsands at Christina Lake, south of Fort McMurray, Alta. With the purchase, Cenovus gets another 110,000 barrels a day of production from what had been MEG's flagship operation. The deal was worth more than $8.6 billion in cash, shares and assumed MEG debt. MEG shares are expected to be delisted from the TSX on Friday. The acquisition's [Read more]
Nickel mine, hydroelectric project to be added to major projects list
OTTAWA - The Crawford Nickel Project in Ontario and a hydroelectric project in Nunavut are expected to be added to Canada's major projects list. Prime Minister Mark Carney will be in Terrace, B.C., Thursday to announce the next batch of major projects the government is submitting to its Major Projects Office. A senior Ontario government source says the Crawford Nickel Project, based near Timmins, Ont., will be among the projects Carney announces. Also set to be announced is a [Read more]
Baytex Energy selling U.S. Eagle Ford operations for $3.25 billion
CALGARY - Baytex Energy Corp. says it has signed a deal to sell its U.S. Eagle Ford assets to an undisclosed buyer for about $3.25 billion in a move to focus on its operations in Alberta and Saskatchewan. The company says the light oil Eagle Ford operations in Texas represent all of its U.S. business. Baytex chair Mark Bly says by sharpening the company's focus on its core Canadian assets it has a solid foundation to drive growth and capitalize on new opportunities. Once the deal is [Read more]
Finance minister says critical minerals refining is the ‘name of the game’
CALGARY - Finance Minister FranÇois-Philippe Champagne says his goal is to help make Canada the NATO partner of choice when it comes to supplying critical minerals. He says refining is the "name of the game" and Canada can do better than just shipping those high-demand materials south in their raw form. Champagne made his remarks to a Calgary business audience while discussing last week's federal budget. The budget outlines a plan for a $2-billion "critical minerals [Read more]
Vancouver Fraser Port Authority says plans to dredge Burrard Inlet remain uncosted
VICTORIA - A spokesperson for the Vancouver Fraser Port Authority says plans to dredge Burrard Inlet remain in the preliminary stage with no costs currently attached to them. But the authority, which is leading the dredging, also says that the work could start as soon as next year, following additional consultations, permitting and procurement. Senior communication advisor Sarah Matak said the authority continues to collaborate with government, industry and communities including local [Read more]
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