CALGARY - A tank containing crude oil or asphalt exploded at a Wisconsin refinery owned by Calgary-based Husky Energy Inc. on Thursday, injuring several people and causing a blast that one worker described as sounding like a sonic boom. No fatalities have been reported, but at least five people have been taken to hospitals in Duluth, Minn., following the explosion at the oil refinery at about 10 a.m., Superior Fire Chief Steve Panger told The Associated Press. Panger didn't have [Read more]
McKenna outlines pipeline protections ahead of B.C court reference
OTTAWA - Environment Minister Catherine McKenna is floating the idea of a joint Ottawa-B.C. panel of scientists to enhance existing research on oil spills as the federal government continues pressing its case for the Trans Mountain expansion project. McKenna is making the proposal to B.C. Environment Minister George Heyman just as the province prepares to unveil the question it will ask the Court of Appeal as it tries to limit the flow of oil through the expanded pipeline. B.C.'s efforts [Read more]
Husky Energy reports Q1 profit up from year ago, lowers production guidance
CALGARY - Husky Energy Inc. reported a first-quarter profit of $248 million, up from $71 million a year ago, as it lowered its annual production guidance. The energy company says the profit amounted to 24 cents per share for the three months ended March 31, up from six cents per share a year ago. On an adjusted basis, Husky says it earned $245 million or 24 cents per share in the quarter, up from an adjusted profit of $73 million or seven cents per share in the same quarter last [Read more]
B.C. government to unveil details on pipeline reference case
VICTORIA - Details are expected to be released today about British Columbia's court case that questions if the province has the power to regulate the flow of oil from the Trans Mountain pipeline expansion. Premier John Horgan has said a reference case will be filed in B.C.'s Court of Appeal by April 30, seeking to clarify the province's rights to protect its environment and economy from an oil spill. A B.C. government official says the scheduled announcement on environmental protection is [Read more]
Carbon court: Saskatchewan seeks Court of Appeal ruling on federal carbon tax
REGINA - The Saskatchewan government is asking the province's Appeal Court to rule on whether Ottawa can impose a carbon tax but the federal government says it is confident it will prevail. Saskatchewan wants to know whether Ottawa's plan to bring in a carbon price for provinces that don't have one violates the Constitution. Premier Scott Moe's government has consistently fought against the carbon tax, arguing the province's own climate-change plans are sufficient to reduce [Read more]
Trans Mountain opponent got federal money through Canada Summer Jobs: Tories
OTTAWA - The federal Liberal government found itself taking fire over the stalled Trans Mountain pipeline expansion from opposite flanks Wednesday: accused of helping to finance pipeline protesters on the one hand, and rigging the review system in favour of the project on the other. Conservative Leader Andrew Scheer led off question period with the revelation that one of the successful applicants to the government's Canada Summer Jobs program is a B.C. group looking to hire someone "to help [Read more]
Cenovus posts $914 million net loss amid challenging pricing conditions
CALGARY - Cenovus Energy posted a $914 million net loss from continuing operations in the first quarter, a bigger shortfall than analysts had expected, amid challenging pricing conditions for heavy grades of crude oil as well as natural gas. The Calgary-based company said the net loss amounted to 74 cents per share, which compared with a year earlier profit of $211 million or 25 cents per share. The loss included a $100-million non-cash asset impairment charge for its Clearwater [Read more]
Enbridge shares fall after Minnesota judge issues Line 3 recommendation
CALGARY - Shares in Enbridge Inc. were trading down nearly five per cent the day after a judge in Minnesota recommended that its Line 3 pipeline replacement project follow its existing route across the state rather than the company's preferred route. Enbridge traded as low as $37.86, off $1.96, on the Toronto Stock Exchange on Tuesday morning. In an overnight note, analysts at Desjardins Capital Markets say the administrative law judge's report could mean delays for the project [Read more]
Glass Lewis proxy firm backs Crescent Point slate as annual meeting nears
CALGARY - A second institutional investor proxy advisory firm is wading into the fight by a dissident shareholder to elect a slate of four directors to the 10-member board at Crescent Point Energy Corp. Unlike Institutional Shareholder Services Inc., however, Glass Lewis & Co. is recommending that shareholders vote for all of Crescent Point's director nominees and none of those put forward by Cation Capital Inc. Glass Lewis says shareholders should also vote in favour of the oil [Read more]
Saskatchewan introduces law to allow control of oil, gas exports
REGINA - The Saskatchewan government has introduced legislation that would allow the province to control its oil and gas exports, similar to a bill recently tabled in Alberta. Once passed, the law would establish a permitting process for people or corporations looking to export energy products outside the province. The proposal does not mention British Columbia specifically, but Saskatchewan has said it is supporting Alberta in a dispute with B.C. over the Trans Mountain pipeline. The [Read more]
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