EDMONTON - An agency is maintaining Alberta's credit rating but says the outlook for the long-term is negative because of the NDP government's unwillingness to tackle its deficit and growing debt. DBRS Limited says the rating remains at AA-high, but the trend on long-term ratings has been changed to negative from stable and the province could face a downgrade within a year. "The negative trend reflects that Alberta continues to erode its low debt advantage through sustained [Read more]
Apache Corp. sells off Canadian assets in strategic exit from country
CALGARY - Apache Corp. says it has sold its assets in British Columbia, Alberta and Saskatchewan for close to $1 billion in a strategic exit from Canada. The Houston-based oil and gas company said late Thursday that leaving Canada was part of its goal of streamlining its portfolio to focus on projects in the United States, United Kingdom and Egypt. Apache said the sell-off will mean a significant reduction in asset retirement obligations and annual overhead costs, as well as [Read more]
Alberta Energy Regulator lays charges against Nexen Energy for 2015 pipeline spill
CALGARY - The Alberta Energy Regulator has laid five charges against Nexen Energy for a pipeline spill two years ago that was one of the largest in provincial history. About five million litres of emulsion — estimated to be roughly a third bitumen and two-thirds water and sand — leaked into muskeg near the company's Long Lake oilsands facility southeast of Fort McMurray. The charges include releasing a substance that may have caused an adverse effect and disturbance to public [Read more]
Alberta energy regulator turns to Supreme Court on well abandonment ruling
CALGARY - Alberta's energy regulator has asked the Supreme Court of Canada to review a ruling that could allow energy companies to walk away from cleaning up abandoned oil wells and affect industrial sites across the country. In documents filed Tuesday, the regulator formally applied to the top court for leave to appeal the so-called Redwater decision. In May 2016, an Alberta Queen's Bench judge ruled in favour of the bankruptcy trustee of Redwater Energy Corp. The court ruled [Read more]
Fort McMurray wildfire raised fuel supply concerns in Ottawa: documents
CALGARY - Federal officials raised the possibility of relaxing competition and fuel quality rules to ensure a stable supply of fuel while the Fort McMurray wildfire raged and forced several northern Alberta oilsands projects to shut down. Documents obtained by The Canadian Press under the Access to Information Act highlight some of the options Ottawa was examining if shortages got bad enough during Canada's most expensive natural disaster, which drove more than 80,000 Fort McMurray [Read more]
Trudeau, Notley welcome B.C.’s Horgan despite Trans Mountain pipeline rift
VICTORIA - British Columbia premier-designate John Horgan said he spoke with Prime Minister Justin Trudeau on Friday about the softwood trade dispute with the United States and he is planning meetings in Ottawa and Washington, D.C. Horgan, who will head a minority NDP government, said he expected the meeting with Trudeau will happen before the recall of B.C.'s legislature, now expected shortly after Labour Day. "We talked about housing," he said. "We talked about transit. We [Read more]
Another painful year in Alberta, but NDP government sees positive economic signs
EDMONTON - Alberta ended its most recent fiscal year with a $10.8 billion deficit and $33.3 billion in debt, but Finance Minister Joe Ceci said Thursday the economic outlook is improving and the NDP government still plans to balance its books in six years. The province's year-end financial statement said the Alberta economy shrank by more than seven per cent over 2015 and 2016 as the cratering in oil prices led to tens of thousands of layoffs and sharply cut government revenues. [Read more]
Oil price slump removes the ‘outrageous’ from Calgary Stampede party plans
CALGARY - Michael Werbisky fondly remembers getting the shaft at the posh Hyatt Regency Hotel during the Calgary Stampede about 10 years ago. The owner of Western Decor and Displays says he won a $50,000 contract to build an old-fashioned gold mine shaft in a hallway for a law firm's Stampede party, along with a saloon set and other rustic decorations. "We had it all done up in black material and the posts were done in rough wood and knee braces and so on, old-fashioned lanterns, [Read more]
RCMP investigate natural gas line blast west of Edmonton, no injuries
STONY PLAIN, Alta. - RCMP are investigating an explosion and fire caused by an apparent natural gas line breach just west of Edmonton. Police said no one was hurt by the blast in Stony Plain, which the fire department says appears to have been triggered when a construction crew hit a gas line. About 300 homes were forced to go without gas for the day, but service was restored by late Thursday evening. Fire officials said weather conditions helped crews minimize damage. [Read more]
What’s up for Canada Day? For a change, it’s not average gasoline prices
CALGARY - Canadian motorists hitting the road for the country's 150th Canada Day weekend are expected to find the lowest average gasoline prices in seven years, according to GasBuddy.com. The retail fuel price tracking company says that drivers will be paying an average of 104.4 cents per litre, 13 cents less than the 10-year average of $1.17 and the lowest Canada Day long weekend price since 2010. GasBuddy senior petroleum analyst Dan McTeague says the prices are a welcome [Read more]
- « Previous Page
- 1
- …
- 230
- 231
- 232
- 233
- 234
- …
- 488
- Next Page »