CALGARY - Oilsands producer MEG Energy Corp. says co-founder Bill McCaffrey will be retiring from his role as CEO as well as from the board of directors following its annual general meeting on May 31. The Calgary-based company says director Harvey Doerr is to act as interim CEO while it searches for a permanent replacement. McCaffrey, who has agreed to stay on as an adviser, says he feels the time is right to retire because the company's corporate path is clear after it was [Read more]
Federal environment minister defends BP Canada’s plans to drill in N.S.
HALIFAX - Federal Environment and Climate Change Minister Catherine McKenna is defending BP Canada's plans to drill an exploration well roughly 330 kilometres off the coast of Halifax. On Saturday, the Canada-Nova Scotia Offshore Petroleum Board granted the oil and gas company permission to start drilling. McKenna touched on the issue briefly on Sunday during a press conference for the federal government's new public consultation platform on plastics and waste. She said BP's project has [Read more]
BP Canada given the go-ahead to start drilling off the Nova Scotia coast
HALIFAX - Nova Scotia's offshore petroleum regulator has granted BP Canada Energy Group approval to begin drilling a well off the province's coast. The Aspy D-11 exploration well is the first in BP Canada's Scotian Basin Exploration Project, which could see up to seven exploration wells drilled off the southeast coast of Nova Scotia over a three year period. The oil and gas company submitted an application to the Canada-Nova Scotia Offshore Petroleum Board in September 2017 to drill a [Read more]
Horgan speaks of his government’s successes to ‘friends’ at CUPE BC convention
VANCOUVER - British Columbia Premier John Horgan sang his government's praises as he addressed the annual convention for members of the Canadian Union of Public Employees. On the New Democrat record, Horgan listed a number of changes that affected CUPE BC. Those amendments include expanding health-care coverage for paramedics who experience post-traumatic stress disorder, raising the minimum wage and plans to launch the first review of the B.C. Labour code in 15 years. [Read more]
Trudeau ends three-country tour with his global reputation, alliances intact
LONDON - Justin Trudeau is heading home from a lengthy, three-country foreign tour in which the prime minister appeared to recapture his international mojo and reassert several key alliances, but didn't sign off on any big deals or declarations. When the 10-day trip to Peru, France and the U.K., with a quick stop in Ottawa, started last week, one of the top questions was whether Trudeau could rediscover his footing on the world stage after recent controversies in China and India. [Read more]
Institutional shareholder adviser calls for change at Crescent Point Energy
CALGARY - An international proxy advisory firm is joining a call for change at Crescent Point Energy Corp. by endorsing two of four director nominees put forward by a dissident shareholder. Institutional Shareholder Services Inc. says in a report that investors should vote for Dallas Howe and Herbert Pinder, nominated by Cation Capital Inc., instead of Crescent Point nominees Rene Amirault and Mike Jackson at the company's annual meeting May 4. ISS also says shareholders should withhold [Read more]
‘We can’t give up:’ First Nations to fight Alaska drills on caribou calving land
Canadian First Nations are gearing up to fight new U.S. oil-drilling interest in the calving grounds of a caribou herd key to Indigenous physical and cultural survival. "We will continue to fight," said Chief Wanda Pascal of the Tetlit Gwich'In in Fort McPherson, N.W.T. "We can't give up. It's too important." President Donald Trump's administration has announced the start of a 60-day environmental review before selling drilling leases in the Alaska National Wildlife [Read more]
Auditor general calls for long-term financial forecasts as oil revenue decreases
EDMONTON - Alberta's auditor general says a long-term fiscal projection would help the province as it deals with oil price swings and a diminishing non-renewable resource. In his farewell report, Merwan Saher says enormous oil revenues, such as have been enjoyed by Alberta in the past, can be a double-edged sword. He says such petroleum windfalls can become easy substitutes for strong economic fundamentals in good times, leading to much bigger problems when the prices crash. Saher says [Read more]
Supreme Court beer ruling could apply to Alberta-B.C. pipeline war, experts say
CALGARY - A Supreme Court of Canada ruling on bringing beer from Quebec into New Brunswick has implications for the trade war between Alberta and B.C. over the Trans Mountain pipeline expansion. Experts say the court seems to be addressing the issue in its decision when it notes that while some trade barriers can be allowed in some circumstances, those designed to punish another province or to protect a local industry would not be permissible. Howard Anglin, executive director of [Read more]
Kinder Morgan CEO says recent events confirm Trans Mountain may be ‘untenable’
CALGARY - The CEO of Kinder Morgan says events in recent days have reinforced his concerns about the viability of the Trans Mountain oil pipeline expansion project. "It's become clear this particular investment may be untenable for a private party to undertake. The events of the last 10 days have confirmed those views," Steve Kean said on a conference call Wednesday. "We've pointed out there are significant differences between governments, and those differences are outside of our [Read more]
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