FORT MCMURRAY, Alta. - A report on lessons learned from the Fort McMurray wildfire recommends improved prevention measures along with better disaster management and evacuation planning. The Regional Municipality of Wood Buffalo commissioned the KPMG review following the fire in May 2016 that forced about 88,000 people to flee the area in northeastern Alberta. Mayor Melissa Blake said other communities in Canada facing the threat of wildfires can learn from Fort McMurray's [Read more]
TransCanada seeking more Keystone XL shippers as oilsands growth slows
CALGARY - TransCanada Corp. said Thursday that it's looking for more oil shipment commitments for its Keystone system, as expected oilsands growth slows and major international players continue to retreat from the region. Company spokeswoman Jacquelynn Benson said the company is looking for 225,000 barrels a day of commitments on the controversial Keystone XL project, which would have capacity to ship about 830,000 barrels a day from Hardisty, Alta., to markets in Cushing, Okla., and the [Read more]
Total, Suncor Energy in funding dispute over Fort Hills oilsands project
CALGARY - French oil giant Total and Suncor Energy are in a dispute over funding the Fort Hills oilsands project, the $17-billion development set to begin production later this year. The standoff is not expected to affect the overall cost or schedule of Fort Hills. Still, Steve Williams, CEO of Fort Hills operator Suncor Energy (TSX:SU), told financial analysts on a conference call Thursday that he's "disappointed." "Our partner, Total, has chosen not to approve or provide [Read more]
Cenovus Q2 profit boosted by ConocoPhillips deal, revenue up from year ago
CALGARY - Cenovus Energy Inc. (TSX:CVE) reported a profit in its second quarter, boosted by its purchase of most of the Canadian assets of ConocoPhillips. The company reported a quarterly profit of $2.64 billion or $2.37 per share, including a $1.8-billion non-cash revaluation gain on its interest in an oilsands joint venture with ConocoPhillips that it acquired full ownership in. The profit compared with a loss of $267 million or 32 cents per share in the same quarter last year. [Read more]
B.C.’s LNG outlook dims after $36B Pacific NorthWest LNG project killed
VANCOUVER - The dream of a booming liquefied natural gas industry in British Columbia appears to be fading, at least for the foreseeable future, after Petronas and its partners scrapped a $36-billion megaproject in the province, experts say. A consortium led by Malaysia-owned Petronas announced Tuesday it would not proceed with the Pacific NorthWest LNG project near Port Edward, B.C., due to an "extremely challenging environment" brought on by prolonged low prices. The project [Read more]
Supreme Court to decide on oil and gas development and Indigenous consultation
OTTAWA - The Inuit Hamlet of Clyde River won a nearly six-year battle today to stop seismic testing in the Arctic that could kill or maim the marine mammals upon which they rely for food and jobs. The Supreme Court issued a unanimous decision determining the National Energy Board failed miserably at properly consulting Inuit and didn't adequately assess the impact on treaty and Indigenous rights of the proposed oil and gas exploration project before approving it in 2014. The [Read more]
B.C.’s new attorney general says province won’t delay Trans Mountain permits
VANCOUVER - British Columbia's attorney general says the NDP government will not artificially delay permits for the Trans Mountain pipeline, despite the premier's vow to use every available tool to stop the project. David Eby said he's been tasked by Premier John Horgan to identify options to halt Kinder Morgan Canada's $7.4-billion expansion of its Alberta-to-B.C. pipeline, which has already been approved by Ottawa and the previous B.C. government. Eby said the province cannot [Read more]
Supporters, detractors weigh in on Pacific Northwest LNG decision
VANCOUVER - Malaysian national energy company Petronas announced Tuesday it was walking away from the Pacific NorthWest LNG project, a massive liquefied natural gas development that was to be built in British Columbia. While the project received federal government approval, it also faced opposition from some First Nations and an environmental group that sought to squash the go-ahead in the courts. Here is what some people had to say about it: ——— "NDP comes to office in [Read more]
The evaporation of an LNG project: A chronology of Pacific NorthWest LNG
VANCOUVER - Here is a look at how the Pacific NorthWest LNG project evolved over the last several years before the announcement of its demise Tuesday: Feb. 19, 2013: Pacific NorthWest LNG submits its project description to the Canadian Environmental Assessment Agency. April 29, 2013: Japan Petroleum Exploration Co. Ltd. buys a 10 per cent stake in Pacific NorthWest LNG and agrees to buy 10 per cent of the liquefied natural gas produced over at least 20 years, becoming the first [Read more]
Petronas-backed Pacific Northwest LNG megaproject not going ahead
Malaysian national energy giant Petronas and its partners scrapped the Pacific NorthWest LNG megaproject Tuesday, ending months of anticipation on the fate of what would have been one of Canada's largest private infrastructure investments. The decision to cancel the development boiled down to simple economics — a world market awash in liquefied natural gas, which has driven down prices, making Pacific NorthWest LNG no longer financially viable, said Anuar Taib, CEO of Petronas's oil and [Read more]
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