REGINA - Husky Energy is going to see how much more oil — if any — can be cleaned up from a major spill last July along the North Saskatchewan River. The company has started more shoreline cleanup and assessment of the leak, which spilled 225,000 litres of heavy oil mixed with diluent onto the bank of the river near Maidstone, Sask., last July. About 40 per cent reached the river and the oil plume flowed hundreds of kilometres downstream. About 93 per cent of the oil was cleaned [Read more]
Husky reports $71M Q1 profit, cites market uncertainty in dividend restart delay
CALGARY - Husky Energy says the company will continue to delay reinstating its dividend because of uncertainty in the oil markets and recently slumping world crude prices. Some analysts had predicted the Calgary-based energy company would use the release of its first-quarter results Friday to reinstate the dividend it cancelled in late 2015 because of low oil prices. However chief executive Rob Peabody said while Husky (TSX:HSE) has its net debt under control and is generating [Read more]
TransCanada profit more than doubles, revenue up 35 per cent, beating estimates
CALGARY - TransCanada Corp. (TSX:TRP) is still not prepared to offer a firm timeline for the completion of the Keystone XL pipeline, its top executive said on Friday, even after U.S. President Donald Trump granted the project a permit in March. TransCanada CEO Russ Girling said that both the proposed Keystone XL and Energy East projects, which are fiercely opposed by many environmentalists, sit in the company's longer-term bucket because of the difficulty of getting them done. [Read more]
ConocoPhillips cutting 300 jobs in Calgary following Cenovus deal
ConocoPhillips says it's cutting about 300 jobs following a deal to sell most of its Canadian oil and gas holdings to Cenovus Energy. Spokesman Rob Evans said the layoffs are needed to adjust to the smaller size of the company following the $17.7 billion deal announced in late March. He said the cuts will be mainly in Calgary, and employees will know by mid May if they've lost their job. The layoffs come as Calgary's overall unemployment rate has been slowly dropping, as the energy [Read more]
Canadian Natural Resources approves another expansion of Horizon oilsands project
CALGARY - Canadian Natural Resources says it has approved another expansion of its Horizon oilsands mine but must revisit the scope of the project because of unexpectedly robust production from two previous expansions. Horizon, which currently has a maximum design capacity of 182,000 barrels per day, is churning out 205,000 bpd of upgraded bitumen, the Calgary-based oil and natural gas producer (TSX:CNQ) said Thursday. Engineering work is taking place to determine how much more [Read more]
ConocoPhillips cutting 300 jobs in Calgary following Cenovus deal
CALGARY - ConocoPhillips says it's cutting about 300 jobs following a deal to sell most of its Canadian oil and gas holdings to Cenovus Energy (TSX:CVE). Spokesman Rob Evans said the layoffs are needed to adjust to the smaller size of the company following the $17.7 billion deal announced in late March. He said the cuts will be mainly in Calgary, and employees will know by mid May if they've lost their job. The layoffs come as Calgary's overall unemployment rate has been [Read more]
B.C. NDP vows to fight Trans Mountain pipeline, but won’t say how
VANCOUVER - The British Columbia New Democrat platform promises to use "every tool in the toolbox" to stop Kinder Morgan's Trans Mountain pipeline expansion from going ahead. But what are those tools? NDP Leader John Horgan isn't saying. "I'm going to be discussing those with the prime minister the day after the election," he said on a campaign stop this week in Kamloops. Standing on the bank of the South Thompson River, Horgan wasn't far from where former NDP leader [Read more]
STEP Energy Services raises $100 million in IPO, half of initial target
CALGARY - STEP Energy Services (TSX:STEP) says it has raised $100 million in an initial public offering, falling short of the $200 million target it set out earlier this year. The offering illustrates how even with Canadian oil and gas services producers recovering from a two-year crude price crash, accessing capital markets can be a struggle. Last month, Source Energy Services (TSX:SHLE) went public in the first major energy company IPO since October 2014, suggesting markets [Read more]
B.C. First Nation begins social media campaign against Kinder Morgan expansion
VANCOUVER - A British Columbia First Nation hopes selfies and social media will add clout to its battle against the planned expansion of an oil pipeline. The Tsleil-Waututh Nation has erected a billboard near downtown Vancouver that proclaims "I'm Another Voter Against the Pipeline." It invites supporters to take a selfie in front of the board and post it online as voters in British Columbia get ready to head to the polls on May 9. Tsleil-Waututh spokeswoman Charlene [Read more]
Regina steelmaking plant to supply 75% of Trans Mountain Pipeline expansion needs
CALGARY - Kinder Morgan says it plans to buy more than 75 per cent of the pipe it needs for its Trans Mountain Pipeline expansion from a steelmaking factory in Regina. It says it has an agreement to purchase about 250,000 tonnes of pipe, equivalent to 800 kilometres of pipeline, from EVRAZ North America. In a joint news release, both companies say material for the pipe will be sourced from EVRAZ's recycled metal operations in Alberta, Saskatchewan, Manitoba and Ontario. [Read more]
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