The Alberta government has announced a review of the province's energy regulator. Energy Minister Sonya Savage says the review will look at overall changes to the Alberta Energy Regulatory's mandate, operations and governance. She says its current board of directors is also being replaced with interim members. The moves were a campaign promise Premier Jason Kenney made before his United Conservatives were elected in April. Kenney had said one of his first tasks would be replacing the … [Read more...]
Federal Court of Appeal to rule on whether to let pipeline challenges proceed
The Federal Court of Appeal is to reveal today whether a new set of legal challenges to the Trans Mountain pipeline project can proceed. Ottawa has twice approved a plan to twin an existing pipeline from Alberta's oilpatch to the B.C. coast. Last year, the Federal Court of Appeal tore up the original approval, citing both an insufficient environment review and inadequate consultations with Indigenous communities. The Liberals say they fixed both problems and approved the expansion a … [Read more...]
Federal Court of Appeal to rule Wednesday on letting pipeline appeals proceed
The Federal Court of Appeal says it will reveal Wednesday whether a new set of legal challenges to the Trans Mountain pipeline project can proceed. The federal government has twice approved a plan to twin an existing pipeline from Alberta's oilpatch to the B.C. coast. Last year the Federal Court of Appeal tore up the original approval citing both an insufficient environment review and inadequate consultations with Indigenous communities. The Liberals say they fixed both problems and … [Read more...]
Foreign share of oilsands production fell over past 4 years, analysis shows
When it comes to talking about how the northern Alberta oilsands have lost their lustre for foreign investors, Satoshi Abe sounds a lot like his Canadian counterparts. "I think Canada itself creates significant barriers to new investment," said the president of Japan Canada Oil Sands Ltd. or JACOS, reached at his Calgary office. "Additional investment in Canada will only become attractive once there is sufficient egress of its resources and more certainty around its regulatory processes, … [Read more...]
Chinese companies commit to oilsands despite setbacks and poor operating results
CALGARY - While some European and U.S. companies cut their exposure to the Canadian oilsands, China's Big Three oil giants — CNOOC, PetroChina and Sinopec — seem content to let their bets ride even if the results haven't been spectacular. In 2018, PetroChina produced an average of just 7,300 barrels per day of bitumen from its MacKay River thermal oilsands project, although it was designed to produce 35,000 bpd. In June, its output was about 8,700 bpd. The Beijing-based company … [Read more...]
Crescent Point selling $912M in assets including Uinta Basin asset
CALGARY - Crescent Point Energy Corp. is selling its Uinta Basin asset in Utah and certain southeast Saskatchewan conventional assets for a total of approximately $912 million. The Calgary-based company says the agreements include 27,000 barrels of oil equivalent per day of upstream assets. Crescent Point says the transactions are expected to help strengthen its balance sheet. Net debt is expected to improve to about $2.75 billion at the end of 2019 compared with $4.40 … [Read more...]
Chinese companies commit to oilsands despite setbacks and poor operating results
CALGARY - While some European and U.S. companies cut their exposure to the Canadian oilsands, China's Big Three oil giants — CNOOC, PetroChina and Sinopec — seem content to let their bets ride even if the results haven't been spectacular. In 2018, PetroChina produced an average of just 7,300 barrels per day of bitumen from its MacKay River thermal oilsands project, although it was designed to produce 35,000 bpd. In June, its output was about 8,700 bpd. The Beijing-based company … [Read more...]
Foreign share of oilsands production falls from 33% to 16%, analysis shows
CALGARY - When it comes to talking about how the northern Alberta oilsands have lost their lustre for foreign investors, Satoshi Abe sounds a lot like his Canadian counterparts. "I think Canada itself creates significant barriers to new investment," said the president of Japan Canada Oil Sands Ltd. or JACOS, reached at his Calgary office. "Additional investment in Canada will only become attractive once there is sufficient egress of its resources and more certainty around its … [Read more...]
Supreme Court rejects Saskatchewan’s request to delay carbon tax appeal
REGINA - Saskatchewan says the Supreme Court of Canada has denied the province's request to delay its appeal hearing over the carbon tax. The province says the Supreme Court recently issued an order stating the hearing remain tentatively set for Jan.14. The government had asked for more time and expected a delay could mean a hearing next spring. It argued a delay would allow for better co-ordination of challenges coming from other provinces such as Ontario. Ottawa … [Read more...]
Ottawa, B.C. to push electrification of gas industry to cut carbon emissions
The federal and British Columbia governments want to power the production of the natural gas industry in the province using electricity. As part of an agreement announced Thursday, the two governments and BC Hydro are forming a committee to push projects that increase power transmission. Prime Minister Justin Trudeau said the agreement is aimed at reducing greenhouse gas emissions from the natural gas industry, which produces about 18 per cent of the carbon pollution in the … [Read more...]
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