CALGARY - Kinder Morgan Canada Ltd.'s shares traded higher after the federal government announced it would buy its controversial Trans Mountain pipeline for $4.5 billion. The shares were up 47 cents or about three per cent at $17.06 in early trading on the Toronto Stock Exchange after going as high as $18. The company's stock had been halted prior to the announcement. Ottawa is acquiring the existing Trans Mountain pipeline and the expansion project. The company estimated [Read more]
Federal government spending $4.5B to buy Trans Mountain pipeline, B.C. terminal
OTTAWA - The federal Liberal government is spending $4.5 billion to buy Trans Mountain and all of Kinder Morgan Canada's core assets, Finance Minister Bill Morneau said Tuesday as he unveiled the government's long-awaited, big-budget strategy to save the plan to expand the oilsands pipeline. In return, Kinder Morgan will go ahead with its original plan to twin the pipeline this summer while the sale is finalized, which likely won't happen until August, Morneau told a news conference in [Read more]
Crescent Point Energy names new chief executive as part of transformation plan
CALGARY - Crescent Point Energy Corp. named Craig Bryksa as interim president and chief executive, replacing long-time CEO Scott Saxberg. The company says the change at the top was part of a transformation plan. Bryksa was most recently responsible for overseeing Crescent Point's Shaunavon, Uinta Basin, North Dakota, Viking, Swan Hills and other Alberta resource plays, including the East Shale Duvernay, a swath of land containing natural gas and oil between Red Deer and [Read more]
Feds explore buying Trans Mountain; Morneau’s decision coming Tuesday
OTTAWA - Finance Minister Bill Morneau will announce as early as Tuesday morning where the government plans to go with Kinder Morgan to ensure the controversial Trans Mountain pipeline expansion gets built. There are three options on the table, which include the government buying and building the expansion, then selling it once it's complete; and buying it on an interim basis, then selling it to investors and leaving them to handle the construction. Morneau has already unveiled the third [Read more]
Green Leader Elizabeth May gets $1,500 fine for contempt in pipeline arrest
VANCOUVER - Green Leader Elizabeth May pleaded guilty to a criminal contempt of court charge Monday, moments before a British Columbia Supreme Court judge said the MP exploited her position to encourage others to also break the law by violating his injunction at a Kinder Morgan work site. Justice Kenneth Affleck said May is also a lawyer and therefore had a responsibility to obey his order and to persuade others to do so. Affleck issued an injunction more than two months ago preventing [Read more]
Leaked audit suggests B.C. environment rules for energy industry being ignored
VICTORIA - A leaked audit of oil and gas practices in northeastern British Columbia suggests rules to reduce the impact of industry on caribou habitat are being routinely ignored. "The audit identified a number of issues with the (interim operating procedures) and a trend of non-compliance with the measures contained within it," says the 2014 audit conducted for the B.C. Oil and Gas Commission. The audit was never released and only came to light after it was leaked to Ben [Read more]
Trudeau mum on pipeline front even as May 31 deadline looms
OTTAWA - Prime Minister Justin Trudeau insists his government is going to get the Trans Mountain pipeline expansion built, but still has nothing to say about how, even as Kinder Morgan's deadline clock ticks ever closer to the end. The pipeline deadline is just one of two big dates coming for the Trudeau government this week, which could turn out to be one of the most important of his first mandate as prime minister, especially if he wants a second one. Kinder Morgan's May 31 deadline to [Read more]
Crews cleaning up oil spill at Kinder Morgan station north of Kamloops, B.C.
DARFIELD, B.C. - Crews using an emergency response trailer and vacuum trucks are working to clean up a crude oil spill at a Kinder Morgan station north of Kamloops, B.C. The provincial Ministry of Environment said a flow metre has leaked about 100 litres of crude oil into the ground at the Darfield station. It said no waterways have been affected, and the spill has been contained within station property. In a statement, Kinder Morgan said it was alerted to an operational disruption [Read more]
Morneau to give speech in Calgary ahead of Kinder Morgan deadline
CALGARY - Finance Minister Bill Morneau is headed west next week with plans to give a speech to a Calgary business audience a day ahead of a deadline set by Kinder Morgan for its controversial Trans Mountain pipeline expansion project. The Calgary Chamber of Commerce, which announced the event set for May 30, says the speech will focus on securing Canada's economic future. Kinder Morgan suspended all non-essential construction on the Trans Mountain project in April, citing obstruction by [Read more]
Vancouver, Squamish pipeline challenges dismissed by court in B.C.
VICTORIA - The City of Vancouver and Squamish Nation have lost legal challenges aimed at quashing an environmental assessment certificate issued by the British Columbia government for the Trans Mountain pipeline expansion. The B.C. Supreme Court issued separate written judgments today in the cases. The previous B.C. Liberal government issued the certificate in January 2017, about two months after the federal government gave the project the green light. The city argued the province [Read more]
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