EDMONTON - Alberta Premier Rachel Notley wants everyone to mark her words: the Trans Mountain pipeline expansion will go ahead to deliver her province's oil to the West Coast and jobs to British Columbia. Notley says she doesn't believe it makes much difference who is running B.C., because the federal government has already approved the Kinder Morgan (TSX:KML) project. "The decision has been taken," she said Tuesday when asked about the pipeline as she was announcing a new [Read more]
B.C. NDP’s Horgan gathers caucus to ratify deal to govern with help of Greens
VICTORIA - British Columbia's New Democrats and Greens signed a four-year political manifesto Tuesday with a long list of ambitions to run the province, including a new voting system and a ban on corporate and union donations. It also seeks to stop the Kinder Morgan's $7.4 billion pipeline expansion project and require further reviews of the $8.8 billion Site C hydroelectric dam. But the unprecedented political agreement for an NDP minority government will have to wait until [Read more]
Kinder Morgan Canada shares fall in debut amid political uncertainty in B.C.
CALGARY - British Columbia's NDP and Greens are vowing to bring the Trans Mountain expansion to a halt should they form government, one of several promises that could have widespread ramifications on the business community that extend beyond the pipeline project. From B.C. to Bay Street, the alliance formalized Tuesday between the two parties served as a potential foreshock to the private sector. Kinder Morgan Canada, the proponent behind the Trans Mountain expansion, made a [Read more]
Trudeau stands by Kinder Morgan despite changing politics in B.C.
ROME - Prime Minister Justin Trudeau is standing by the Kinder Morgan pipeline project, even as the New Democrats and Greens in B.C. are teaming up to fight it. "The decision we took on the Trans Mountain pipeline was based on facts and evidence on what is in the best interests of Canadians and indeed, all of Canada," Trudeau said Tuesday in Rome at a joint news conference with Italian Prime Minister Paolo Gentiloni. "Regardless of the change in government in British Columbia or [Read more]
Trans Mountain IPO to proceed despite B.C. Green-NDP deal, Kinder Morgan says
CALGARY - Kinder Morgan says it expects to proceed Tuesday with its initial public offering for the Trans Mountain expansion, just as the anti-pipeline Greens and NDP in B.C. announced they have come to an agreement that could cast the project's future into doubt. Dave Conover, a spokesman for the Houston-based energy company, said in an email that the share listing will go ahead on the Toronto Stock Exchange. Conover's confirmation came shortly after the leaders of the B.C. [Read more]
Oilpatch recovery to boost Alberta, Saskatchewan growth, says Conference Board
CALGARY - The Conference Board of Canada says a slow recovery in the oil and gas sector will allow Alberta and Saskatchewan to emerge from recession and lead the provinces in economic growth this year. In its spring provincial outlook, the board says Alberta will have the fastest growing economy this year after two years of contractions. Real GDP is forecast to increase by 3.3 per cent, thanks to startup of a new oilsands refinery near Edmonton and efforts to rebuild Fort McMurray after [Read more]
Husky Oil to proceed with West White Rose project off Newfoundland
ST. JOHN'S, N.L. - One of the largest oil developments to be approved in Canada this year lit up Newfoundland and Labrador's bleak economic outlook as Husky Energy announced an expanded West White Rose project. "It's a happy day," Malcolm Maclean, senior Atlantic vice-president for Husky (TSX:HSE), told reporters Monday. There will be hundreds of jobs plus royalties, equity and tax benefits expected to top $3 billion for a province that has reeled since the oil price collapse. [Read more]
Restructured and much smaller Penn West proposes name change to Obsidian Energy
CALGARY - Penn West Petroleum Ltd. (TSX:PWT) wants to change its name to Obsidian Energy Ltd. after surviving an accounting scandal, debt crisis and commodity price crash over the past three years. David French, who took over as CEO of the Calgary oil and gas company in October, says shareholders will be asked to approve the change because the company no longer resembles the "old Penn West." In July 2014, Penn West announced that hundreds of millions of dollars in expenses had [Read more]
Ottawa won’t impose national threshold for electric car purchases, says Garneau
MONTREAL - Ottawa has appointed an advisory group to develop a plan for getting more zero-emission vehicles on the road, but it won't follow Quebec in requiring automakers to sell a minimum number of electric cars, Transport Minister Marc Garneau said Friday. "We just decided that instead of giving ourselves a specific number what we would do is try to make the conditions more favourable for people to buy zero-emissions vehicles," he said in an interview at an electric vehicle show. [Read more]
Kinder Morgan announces final investment decision on Trans Mountain pipeline
VANCOUVER - Kinder Morgan says it will proceed with the $7.4-billion Trans Mountain pipeline expansion as long as it secures satisfactory financing for the project through its initial public offering. The Texas-based company, in conjunction with its indirect subsidiary Kinder Morgan Canada, announced Thursday its final investment decision on the project, which is conditional on the successful completion of the IPO. The company has offered 102.9 million shares at a price of $17 [Read more]
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