OTTAWA - A Calgary-based energy company has hired the former chief of staff to Natural Resources Minister Jim Carr. Janet Annesley, who left Parliament Hill early last month, is now the senior vice-president of corporate affairs at Husky Energy, just over a year after she was last lobbied by one of its subsidiaries. The Conflict of Interest Act prevents an ex-staffer at Annesley's level — referred to as a former reporting public officer holder — from working for a company with [Read more]
Premier Notley says no time for oilsands shutdown talk as she pushes pipelines
CALGARY - Alberta Premier Rachel Notley tried to reassure bigwigs in the energy industry Wednesday that her government will strive to ensure the Trans Mountain pipeline expansion gets built despite political opposition in British Columbia. Speaking at the Global Petroleum Show in Calgary, Notley said the Alberta NDP government has little time for conversations that seek to shut down the oilsands and threaten jobs in her province. "An effective climate plan has to pay attention to [Read more]
TransCanada outlines $2-billion plan for additional gas transmission capacity
CALGARY - TransCanada Corp. (TSX:TRP) says it plans to invest $2 billion to expand its Nova natural gas pipeline system, as it looks to transport more of the fuel from prolific Western Canadian fields. The Calgary-based company says the proposed expansion is a response to demand from producers operating in the Montney, Duvernay and Deep Basin formations which straddle or are near the B.C.-Alberta boundary. It said many producers are looking to ship to markets in the Pacific Northwest, [Read more]
Suncor says full shipments at Mildred Lake operation to resume in July
CALGARY - Suncor Energy (TSX:SU) is revising its estimates on when full shipments from its Mildred Lake oilsands operation will resume following a fire in March. At the beginning of May, Suncor said repairs had been completed and production was expected to return to full rates in June. On Tuesday, the company issued a news release saying the timing of full ramp-up has been extended to mid-July. The company said repairs are progressing as planned but maintenance work [Read more]
Saskatchewan pens letter to federal natural resources minister on update of NEB
REGINA - The Saskatchewan government has submitted its response to a report on the modernization of the National Energy Board. Energy Minister Dustin Duncan has sent a letter to federal Natural Resources Minister Jim Carr about what Saskatchewan sees as the positives and negatives in the report. Speaking at the legislature, Duncan said the government would welcome any changes that would result in the approval of sound energy projects. But he added those projects would [Read more]
EIA revises down oilsands reserve drop by about a third after data error
CALGARY - The U.S. Energy Information Administration has revised down its estimate of how much oilsands reserves were taken off the books last year because of a data error. In an updated brief out Tuesday, the EIA reports that 67 U.S.-listed companies debooked about 4.9 billion barrels of reserves in the oilsands, down from the 7.7 billion it reported Monday. The EIA had included the 3.5 billion barrels of reserves debooked by Exxon Mobil, plus the roughly 2.8 billion barrels of [Read more]
Canadian oil production projected to grow 33 per cent by 2030, CAPP says
CALGARY - The Canadian Association of Petroleum Producers expects oil production to climb 33 per cent by 2030 even as pipeline constraints and competition for investment threaten to slow future growth. The forecast calls for Canadian crude oil production to reach 5.12 million barrels per day by 2030, up from last year's projection that output would hit 4.93 million bpd. CAPP president Tim McMillan said Tuesday that the crude supply will grow by five per cent per year to 2020, but [Read more]
EIA shows oilsands saw major reserve writedown in 2016 following oil price drop
CALGARY - The U.S. Energy Information Administration has highlighted how last year's oil price drop brought on a massive writedown of high-cost Canadian oilsands reserves. The EIA said in a brief Monday that data from 68 U.S.-listed companies shows their oilsands reserves dropped by a total of about 7.7 billion barrels, making up the vast majority of their 8.2-billion net reduction in commercially viable barrels globally. The writedowns came after the West Texas Intermediate [Read more]
Coalition urges banks to shun financing for Kinder Morgan’s Trans Mountain
BURNABY, B.C. - A coalition of interest groups is calling on Canada's six biggest banks and others to back away from providing funding for Kinder Morgan Canada's controversial Trans Mountain pipeline expansion. The coalition of 20 indigenous and environmental groups says in an open letter that it will use its influence to urge local and foreign governments to divest from banks that ignore its opposition to the pipeline. It names a total of 28 banks as potential targets for its [Read more]
Encana selling Colorado natural gas unit to Denver company for US$735 million
CALGARY - Encana Corp. (TSX:ECA) has a deal to sell its Piceance natural gas assets in Colorado for US$735 million cash to Caerus Oil and Gas LLC of Denver. The Piceance assets include approximately 3,100 operated wells, which produced about 240 million cubic feet per day of natural gas in the first quarter. They also produced 2,178 barrels per day of liquids. Encana has been focusing its efforts on four core areas in Texas and western Canada, and selling non-core parts of its [Read more]
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