VANCOUVER - Dozens of Order of Canada members from British Columbia are urging the federal government to cancel the Trans Mountain pipeline expansion. Bonnie Sherr Klein, Dorothy Grant, Gabor Mate and Raffi Cavoukian are among 42 members who signed a letter asking the federal government to use the Federal Court of Appeal's ruling as an opportunity to rethink the project. In the letter, the signatories say they are concerned about the deep divisions that have been created by how [Read more]
Shell Canada gives up exploration permits to make way for protected area
VANCOUVER - Shell Canada Ltd. has given up it offshore exploration rights, clearing the way for the creation of Canada's first protected marine area under the Canada Wildlife Act. Shell voluntarily released about 50,000 square kilometres of permits in an area off northern Vancouver Island to allow for the creation of the Scott Islands marine National Wildlife Area. The permits cover an offshore area more than one-and-a-half times the size of Vancouver Island, and while Shell [Read more]
TD Bank says Alberta’s recovery ‘not heroic,’ but economy is improving
CALGARY - TD Bank says Alberta's battered economy is headed in the right direction, but warns there are still a number of hurdles that could hinder recovery. A report released Thursday by deputy chief economist Derek Burleton is predicting economic growth between two and 2 1/2 per cent for Alberta in the next year which follows an increase of nearly 4.9 per cent in 2017. "It was a nice bounce back last year, but growth is settling down this year and we're of the mind that you're gonna get [Read more]
IHS report forecasts 16 to 23 per cent emissions intensity drop for oilsands
CALGARY - A new report by research firm IHS Markit forecasts the intensity of oilsands emissions to improve by between 16 and 23 per cent by 2030. The report by IHS vice-president Kevin Birn found emissions intensity, which measures how much greenhouse gas emissions are produced per barrel of crude, to have already dropped by 21 per cent between 2009 and 2017. Birn says the intensity of mining-based oilsands operations stood at an average of 83 kilograms of carbon dioxide per barrel last [Read more]
AltaGas to create spin off AltaGas Canada, plans initial public offering
CALGARY - AltaGas Ltd. has announced plans to spin off some of its assets to a new company called AltaGas Canada Inc., while retaining a significant minority equity interest in the business after its initial public offering. The new firm will hold the company's Canadian rate-regulated natural gas distribution utility assets and contracted wind power in Canada, as well as a roughly 10 per cent indirect equity interest in the Northwest Hydro Facilities in B.C. AltaGas Canada will [Read more]
TSX falls as energy stocks fail to get lift from highest crude price in nine weeks
TORONTO - Canada's main stock market resumed its downward trajectory Wednesday as energy stocks failed to get a lift even though crude oil prices hit nearly a nine-week high. There was a disconnect as the overall market didn't benefit from higher commodity prices because of uncertainty over NAFTA negotiations, said Candice Bangsund, vice-president and portfolio manager for Fiera Capital. "We're not there yet and I think the market is just expressing a little bit of caution there and just [Read more]
Trans Mountain a frustrating, anger-inducing process for Alberta: premier
FORT MCMURRAY, Alta. - Alberta Premier Rachel Notley says the challenges facing the Trans Mountain pipeline expansion shows her province can do everything by the book and still get shortchanged. Notley says the recent Federal Court of Appeal decision quashing the expansion project has provoked frustration and anger in Alberta, but her government will continue to fight to get it built. She says without it, the ongoing pipeline bottlenecks will continue to cost Canada $40 million a day in a [Read more]
AltaGas selling non-core assets in Canada and the U.S. for $560 million
CALGARY - AltaGas Ltd. says it has signed deals to sell about $560 million worth of natural gas midstream assets and power generating assets to two buyers. Birch Hill Equity Partners Management Inc. has agreed to pay $165 million for a group of smaller scale gas midstream and power assets in Canada, as well as its commercial and industrial customer portfolio in Canada. The transaction also includes the 43.7 million shares of Tidewater Midstream and Infrastructure Inc., which [Read more]
Indigenous groups still want to buy stake in Trans Mountain after court setback
VANCOUVER - Some First Nations and Metis communities are determined to purchase an equity stake in the Trans Mountain pipeline expansion despite a court ruling that halted construction and potentially set the project back for years. The Federal Court of Appeal ruling quashed the government's approval of the project, requiring it to examine the impacts of increased tanker traffic and consult more deeply with Aboriginal groups along the pipeline route. Indigenous groups in Fort McMurray, [Read more]
A decade later, Alberta project aims to both capture CO2 and boost oil output
CALGARY - Nearly a decade after winning millions of government dollars in support, a project with the seemingly contradictory goals of trapping greenhouse gas and boosting oil output is poised to bring a new dimension to the Alberta oilpatch. In August, Enhance Energy announced it has enlisted Wolf Midstream as a partner on its long-awaited Alberta Carbon Trunk Line project to capture CO2 from two Edmonton-area industrial sites and ship it 240 kilometres south to a legacy oilfield near Clive, [Read more]
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