CALGARY - Shares in Enbridge Inc. rose Wednesday after it announced it will gain nearly $3.2 billion through two deals to sell renewable power facilities in North America and Europe and natural gas gathering and processing assets in the United States. The deals announced hours before its annual general meeting in Calgary allow Enbridge to declare mission accomplished on its goal of raising $3 billion from non-core asset sales in 2018 to reduce its heavy debt load and help fund its [Read more]
Saskatchewan seeks intervener status in B.C. Trans Mountain pipeline case
REGINA - Saskatchewan is seeking intervener status in British Columbia's reference case over the flow of heavy oil through that province. Attorney General Don Morgan says Saskatchewan is dismayed that the Trans Mountain pipeline expansion continues to be held up by unreasonable delays. The case before the B.C. Court of Appeal asks whether amendments the B.C. government is proposing to the Environmental Management Act are valid. The case also asks whether B.C. has the authority to [Read more]
Enbridge and CPPIB sign renewable power deal, create joint venture
CALGARY - Enbridge Inc. has signed a deal for the Canada Pension Plan Investment Board to buy 49 per cent of the pipeline company's interests in a group renewable power assets for $1.75 billion. Enbridge says the agreement will see the creation of a joint venture that includes all its Canadian renewable power assets, as well as the Cedar Point Wind Farm in Colorado and the Silver State North Solar Project in Nevada. The deal also includes Enbridge's interests in two German [Read more]
Pipeline plight: Carr confident feds will convince Kinder Morgan to proceed
OTTAWA - Natural Resources Minister Jim Carr says he is absolutely confident Canada and Kinder Morgan will come to a financial agreement that will convince the pipeline builder to proceed with the Trans Mountain expansion before its May 31 deadline. Speaking at a conference in Ottawa today, Carr says it was understandable that the threat of "endless court action" gave Kinder Morgan's investors pause about proceeding. He says the government and the company have just a few more weeks to find [Read more]
Uncertainty over marine protection areas hurts offshore investment: N.L. premier
ST. JOHN'S, N.L. - Newfoundland and Labrador's premier says confusion and uncertainty over federal efforts to protect marine areas have stranded crucial offshore oil investment. Dwight Ball says future decisions should be timely and based on good science — not pressure from what he called special interest groups. He made the comments to the National Advisory Panel on Marine Protected Area Standards. There are now two marine protected areas off Newfoundland and Labrador, with a third [Read more]
Royal Dutch Shell to sell stake in Canadian Natural Resources
TORONTO - Royal Dutch Shell is selling its stake in Canadian Natural Resources Ltd. for about $4.3 billion. The sale of more than 97 million shares represents Shell's entire interest in Canadian Natural, a roughly eight per cent stake in the company. Shell said in a statement Monday night that proceeds from the sale will contribute to reducing net debt. The sale is expected to complete on Wednesday. Shell shares closed at $45.30 on the Toronto Stock Exchange on Monday. The company [Read more]
Kenney returns to Ottawa as wing man in Tories’ fight against carbon tax
OTTAWA - Jason Kenney, leader of Alberta's United Conservative Party, returned to Parliament Hill on Monday where he sparred with federal lawmakers over the Trudeau government's carbon pricing policy, which he's vowed to fight if he's elected premier next year. The former Harper cabinet minister testified before a parliamentary committee on the Liberals' controversial plan to ensure all provinces impose a carbon tax as a way to cut pollution. Kenney's appearance also provided support for [Read more]
Metals miner Sherritt says it has developed oilsands partial upgrading technology
CALGARY - Toronto-based miner Sherritt International Corp. says it has developed a partial upgrading technology for the oilsands that could qualify for a $1-billion incentive program recently announced by the Alberta government. CEO David Pathe says the company has completed successful laboratory testing of the process at its facility in Fort Saskatchewan, Alta., and is now looking for an industry partner to help test it on a larger scale. The technology borrows from Sherritt's [Read more]
Report shows oilsands emissions over cap by 2030 unless GHG intensity falls
CALGARY - Canada's oilsands production could grow to the point that its emissions exceed the Alberta government's cap of 100 million tonnes per year by 2030, according to a forecast from the Canadian Energy Research Institute released Monday. On-site emissions from oilsands producers would grow from about 72 million tonnes in 2017 to 103 million tonnes in 2030 under a reference case scenario based on current company plans and technologies, it said. But Dinara Millington, vice-president of [Read more]
Taxpayers federation seeks standing in pipeline, carbon tax legal battles
VANCOUVER - An advocacy group that argues for the interests of taxpayers will be asking the courts to allow it take part in separate legal cases in British Columbia and Saskatchewan in a dispute over federal and provincial jurisdiction. The Canadian Taxpayers Federation says it will request permission for intervener status in order to fight against the federal carbon tax in Saskatchewan and in favour of getting pipelines built through B.C. A reference question filed in the B.C. Appeal [Read more]
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