CALGARY - Enbridge (TSX:ENB) says it will begin phased construction of the Canadian portion of its Line 3 pipeline project on Aug. 1, even though the American side is still awaiting regulatory approval. Spokeswoman Suzanne Wilton says about 600 contractor workers and up to 200 Enbridge staff are set to begin clearing land and installing pipe for the line which runs from central Alberta to Manitoba. About one-third of the Canadian route is expected to be completed this summer with [Read more]
Five things to know about the Fort Hills oilsands mining project
For half a century, the oilsands have fuelled an industry that has become an engine of Canada's economy. Later this year, the oilpatch will mark the opening of the Fort Hills mine, adding to the 30 oilsands projects in operation. Here are five things to know about Fort Hills: 1. The project is located 90 kilometres north of Fort McMurray in northern Alberta. Suncor Energy has a 50.8 per cent majority stake in the operation, along with Total E&P Canada with a 29.2 per cent share [Read more]
As Canada’s first oilsands mine nears 50-year mark, site a contrast of old, new
FORT MCMURRAY, Alta. - Nearly 50 years after the opening of Canada's first major oilsands mine, the site on the banks of Alberta's Athabasca River is an epicentre of energy, teeming with bustling workers amid signs of its pioneering past and cutting-edge future. One of the mine's upgraders — opened in September 1967 — turns heavy, sticky oilsands bitumen into light synthetic oil to ship to market. In the very near future, the ore containing that bitumen may be hauled by driverless trucks [Read more]
U.S. not committed to completing NAFTA talks by end of 2017: Trump’s trade czar
OTTAWA - The U.S. trade representative says he's not making any commitments to wrap up NAFTA's renegotiation within the tight timeline of year's end. Robert Lighthizer told the Senate finance committee Wednesday that while he wants to move as quickly as possible, it's a much higher priority for him to seal a "very high-standard" agreement for the U.S. during the upcoming talks on the North American Free Trade Agreement. Lighthizer said his pursuit of quality over speed means he [Read more]
Oilsands through the hourglass: Defining moments that shaped an economic juggernaut
The Canadian oilsands industry is beset with environmental concerns and low crude prices. Nonetheless, production is expected to grow. The Canadian Association of Petroleum Producers estimates that oilsands output will reach 3.7 million barrels per day in 2030 from 2.4 million bpd last year. Some key dates in the history of the oilsands: 1719: A Cree man named Wa-Pa-Su presents an oilsands sample for trade at the Hudson's Bay Company to Henry Kelsey, who was the first recorded [Read more]
Oilsands pioneers recall big promise, big problems with industry’s first mine
FORT MCMURRAY, Alta. - The launch of Canada's first large-scale oilsands mine began on a cold and overcast September day in 1967, with speeches to a crowd of about 600 VIPs predicting incredible wealth would be unlocked from the massive energy resource in northern Alberta. But veteran employees of the Great Canadian Oil Sands project say that early promise was soon met with harsh challenges, including emergency shutdowns, labour strife, cold weather and biting insects. George [Read more]
Study finds Canadian oil and gas spending at risk under stricter emissions limit
CALGARY - A study by financial think-tank Carbon Tracker says Canadian oil and gas companies rank among some of the most exposed to climate policy risk. The report is part of an effort to increase disclosure on climate risks in the industry by looking at what projects and spending among 68 publicly listed companies might be jeopardized by a crackdown on emissions. "We've had a sort of ongoing discussion with investors, and there's a growing desire to understand who the winners [Read more]
Cenovus CEO to retire; company to announce sale of $4B-$5B in assets
CALGARY - Cenovus Energy (TSX:CVE) shares fell more than 10 per cent on Tuesday after the oil company announced plans for more asset sales, deeper cost-cutting and the unexpected retirement of CEO Brian Ferguson. Its stock fell as low as $9.11 or 11.4 per cent from Monday's close and down about 48 per cent since it announced in late March a $17.7-billion blockbuster deal buy assets from ConocoPhillips. "It has been a trying time for our shareholders," Ferguson said during a [Read more]
Controversial environmentalist among five released from Alberta oilsands panel
EDMONTON - Controversial environmentalist Tzeporah Berman is out as a member of a government-appointed committee advising Alberta on how to develop the oilsands. Berman and four other members of Alberta's Oil Sands Advisory Group were let go after the 18-member panel wrapped up the first two phases of its consultations. Environment Minister Shannon Phillips says Berman and the others contributed critical expertise in the early stages, but the panel's focus is now narrowing. [Read more]
Alberta advisory group sets out recommendations on oilsands emissions cap
CALGARY - Oilsands producers could face steep fines and suspended projects if industry comes close to hitting a mandated 100-megatonne limit under recommendations proposed by Alberta's Oil Sands Advisory Group. But the non-binding report sets out a series of policies options to help avoid reaching that point, including requiring the use of better technology, setting out emissions management plans and costs, and improved regulations. Advisory group co-chair Dave Collyer said the [Read more]
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