CALGARY - TransAlta Corp. CEO Dawn Farrell says the company has committed to phase out its coal-fired power plants years ahead of Alberta government deadlines. Speaking at the company's annual meeting Thursday, Farrell said the company will shut some coal units by 2018, while converting others to natural gas to be free of coal-fired power plants by the end of 2023, six years ahead of a deadline set by the provincial government. The move comes after what the board of directors [Read more]
Full production expected at Syncrude by the end of June after fire repairs
CALGARY - Syncrude's Mildred Lake oilsands upgrader in northern Alberta is expected to return to full operation by the end of June after production was sidelined by a fire on March 14. Suncor Energy (TSX:SU), which owns 54 per cent of Syncrude, says in a statement that a detailed repair schedule and return-to-service plan has been adopted that will allow the facility to complete repairs as well as planned maintenance. It says the plant, which has a maximum capacity of about [Read more]
Oilsands thirst for natural gas grows to nearly one-third of Canadian demand
CALGARY - Nearly one-third of the natural gas burned in Canada last year was used to produce crude from the oilsands, the country's energy regulator said Wednesday, something environmentalists called a "waste" of a cleaner-burning resource. According to a National Energy Board report, nearly 2.38 billion cubic feet per day or a record 29 per cent of purchased natural gas was used for oilsands production in Alberta in 2016. That's up from the 730 million cf/d or 12 per cent of total [Read more]
Brookfield-led group to buy all of Loblaw gas stations for $540 million
TORONTO - Loblaw is selling all 213 of its gas stations across the country for $540 million to Brookfield Business Partners and its partners. While Brookfield (TSX:BBU.UN) would rebrand the stations to Mobil, they would continue to use the PC Plus loyalty program offered by Loblaw (TSX:L). The proposed deal is subject to certain conditions, but is expected to close in this year's third quarter. Brookfield Business Partners, a unit of Brookfield Asset Management [Read more]
Parkland Fuel buying Chevron Canada fuel business for nearly $1.5 billion
CALGARY - Fast-growing Parkland Fuel Corp. (TSX:PKI) has struck a $1.5-billion deal to buy Chevron Canada's downstream fuel business, including 129 retail gas stations in the Vancouver area and the Chevron refinery in Burnaby, B.C. The Red Deer, Alta.-based company says the new stations will complement its existing 44 Chevron-branded sites in British Columbia and cement its position as one of Canada's largest fuel retailers with more than 1,800 service stations. The sale also [Read more]
Countdown is on for tow of massive Hebron oil platform to field off Newfoundland
BULL ARM, N.L. - It was made with more concrete than the Empire State Building — and it moves. Dignitaries cut ceremonial mooring chains on the massive Hebron oil platform Tuesday, marking the wind-up of construction for a $14-billion project that employed more than 7,500 people at its height. Geoff Parker, senior project manager, said a slip form for the gravity-based structure tanks, which sit mostly under water, used more concrete than the famed New York City skyscraper. The [Read more]
Northeastern B.C. towns see Montney natural gas drilling recovery
CALGARY - Increasingly empty industrial yards around the northeastern B.C. city of Fort St. John are a welcome sign for Jennifer Moore. Moore, a regional economic development officer, says the return of parked natural gas drilling rigs and related equipment to the field shows that a recovery is underway for one of Canada's biggest new energy plays. Fort St. John sits atop the Montney, a natural gas-bearing formation that straddles the B.C.-Alberta border. Like the oilsands hub of [Read more]
Alberta premier warns her government workers away from campaigning for B.C. NDP
EDMONTON - Alberta's NDP premier has a message for anyone in her government who is thinking of going to British Columbia to campaign for the New Democrats in that province's election: Think again. The B.C. NDP is locked in a tight election campaign and one of the party's key planks is opposition to the Trans Mountain pipeline expansion from Alberta through B.C. It's fairly common for members from different provincial wings of the same party to help in each other's campaigns. [Read more]
Chevron said to be considering sale of stake in Shell oilsands mining project
CALGARY - California-based Chevron Corp. is looking at selling its 20 per cent stake in the Athabasca Oil Sands Project in northern Alberta, according to a media report. The company has discussed with investment banks the idea of selling its stake in the oilsands mine and upgrading project, Reuters reported Thursday, citing anonymous sources. Chevron said in an email that it had no comment on the report. A spokesman for project operator Royal Dutch Shell said it wouldn't comment [Read more]
National Energy Board expands safety advisory on pipeline materials
CALGARY - The National Energy Board is expanding a safety advisory and draft order on unreliable pipeline fittings after learning of more suppliers with quality issues. The draft order requires companies to verify whether they have any components not meeting specifications, and to file a timeline and plan to address any issues within 60 days. The regulator says it also plans to hold a technical workshop in June on quality assurance for the pipeline components as the number of [Read more]
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