CALGARY - Alberta Premier Danielle Smith says she's on board with Prime Minister Mark Carney's second batch of key major projects picked out for potential fast-track approval. Carney announced Thursday that seven additional major energy and infrastructure projects were being referred to his government's major projects office, after announcing an initial list of five back in September. The second list includes a nickel mine in northern Ontario, a hydroelectric project in Iqaluit, and a [Read more]
What is Ksi Lisims LNG, B.C. project being fast tracked by Feds?
TERRACE, BRITISH COLUMBIA, CANADA - The Ksi Lisims LNG facility in northern British Columbia and the North Coast Transmission Line that is planned to power it are among major projects that Prime Minister Mark Carney says will be reviewed for fast-track permitting and approval. Here are some facts about Ksi Lisims LNG, which has already been prioritized by the B.C. government. What will Ksi Lisims LNG do? The project is designed to be a massive LNG export facility in waters off the [Read more]
MEG takeover saga draws to close as Cenovus completes purchase
CALGARY - Oilsands giant Cenovus Energy Inc. has completed its takeover of MEG Energy Corp. The two companies had neighbouring properties in the oilsands at Christina Lake, south of Fort McMurray, Alta. With the purchase, Cenovus gets another 110,000 barrels a day of production from what had been MEG's flagship operation. The deal was worth more than $8.6 billion in cash, shares and assumed MEG debt. MEG shares are expected to be delisted from the TSX on Friday. The acquisition's [Read more]
Nickel mine, hydroelectric project to be added to major projects list
OTTAWA - The Crawford Nickel Project in Ontario and a hydroelectric project in Nunavut are expected to be added to Canada's major projects list. Prime Minister Mark Carney will be in Terrace, B.C., Thursday to announce the next batch of major projects the government is submitting to its Major Projects Office. A senior Ontario government source says the Crawford Nickel Project, based near Timmins, Ont., will be among the projects Carney announces. Also set to be announced is a [Read more]
Baytex Energy selling U.S. Eagle Ford operations for $3.25 billion
CALGARY - Baytex Energy Corp. says it has signed a deal to sell its U.S. Eagle Ford assets to an undisclosed buyer for about $3.25 billion in a move to focus on its operations in Alberta and Saskatchewan. The company says the light oil Eagle Ford operations in Texas represent all of its U.S. business. Baytex chair Mark Bly says by sharpening the company's focus on its core Canadian assets it has a solid foundation to drive growth and capitalize on new opportunities. Once the deal is [Read more]
Finance minister says critical minerals refining is the ‘name of the game’
CALGARY - Finance Minister FranÇois-Philippe Champagne says his goal is to help make Canada the NATO partner of choice when it comes to supplying critical minerals. He says refining is the "name of the game" and Canada can do better than just shipping those high-demand materials south in their raw form. Champagne made his remarks to a Calgary business audience while discussing last week's federal budget. The budget outlines a plan for a $2-billion "critical minerals [Read more]
Vancouver Fraser Port Authority says plans to dredge Burrard Inlet remain uncosted
VICTORIA - A spokesperson for the Vancouver Fraser Port Authority says plans to dredge Burrard Inlet remain in the preliminary stage with no costs currently attached to them. But the authority, which is leading the dredging, also says that the work could start as soon as next year, following additional consultations, permitting and procurement. Senior communication advisor Sarah Matak said the authority continues to collaborate with government, industry and communities including local [Read more]
Carney tells business crowd a new pipeline project is ‘going to happen’
OTTAWA - Prime Minister Mark Carney came close to telling a Bay Street audience today that he will secure a new pipeline for Alberta, offering his strongest endorsement yet of the idea. During an address to the Canadian Club Toronto this afternoon Carney told the audience not worry because "we're on the pipeline stuff" without offering any details. But then Carney stopped himself short and said "well, something's going to happen, let's put it that way." Speaking in Calgary today, [Read more]
Pembina exec says oilpatch consolidation could be good news for bottom line
CALGARY - An executive with natural gas shipper and processor Pembina Pipeline Corp. says recent consolidation among Canadian producers could accelerate projects and benefit its bottom line. Chief operating officer Jaret Sprott told an investor conference call that Pembina has a "great relationship" with both U.S.-based Ovintiv Inc. and the producer it's planning to acquire for $3.8 billion, NuVista Energy Ltd. Sprott says it's "sad to see one of our great customers go" through the deal [Read more]
Pembina Pipeline posts drop in profit, has gas pipeline expansions in the works
CALGARY - Pembina Pipeline Corp. posted a profit of $286 million during the third quarter, a drop from the $385 million it earned during the same period a year earlier. The profit amounted to 43 cents per share versus 60 cents per share during the third quarter of 2024. Revenue was $1.79 billion, down from $1.84 billion. The Calgary-based natural gas shipper and processor says it has more than $1 billion of proposed pipeline expansions in the works to handle growing production out of [Read more]
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