CALGARY - Since TransCanada Corp. (TSX:TRP) first proposed the 1,897-kilometre Keystone XL pipeline, the project has been studied, stalled, slammed and hyped — all amid political pressure from interests on all sides of the debate. Some key dates in Keystone XL's history: July 2008: TransCanada and ConocoPhillips, joint owners of the Keystone Pipeline, propose a major expansion to the network dubbed Keystone XL to carry oilsands bitumen from Alberta to Texas. 2009: As the U.S. [Read more]
Saskatchewan Justice reviewing whether charges warranted in Husky oil spill
REGINA - Saskatchewan's Justice Ministry is reviewing Husky Energy's response to alarms before a major oil spill last summer to determine whether charges are warranted. The department is also looking into a delay in shutting down the ruptured pipeline. "I am deeply concerned about this ... and I think our actions to date, and going forward ... show that we've taken this very seriously," Energy and Resources Minister Dustin Duncan said Thursday at the legislature. The leak [Read more]
B.C. reports 64 pipeline benefit deals with 29 northern First Nations
VICTORIA - The British Columbia government says it has completed benefit agreements with 90 per cent of the eligible First Nations along four proposed natural gas pipeline routes across northern B.C. The Ministry of Aboriginal Relations says 64 natural gas pipeline benefits contracts have been signed with 29 First Nations and that most include financial payments worth over $1 million, although the ministry says only $13 million has been paid out so far. Most of the agreements [Read more]
Enbridge spill east of Edmonton estimated at 10,000 litres of crude oil
CALGARY - The National Energy Board says about 10,000 litres of light crude oil spilled Monday at a storage site east of Edmonton. Enbridge said that as of Tuesday morning, it had recovered almost all of the oil, which had leaked from a tank value in an industrial area of Strathcona County. The company said the oil flowed into a drainage ditch and then into a creek. The Transportation Safety Board dispatched a team to the spill site, marking the second time one has been [Read more]
Enbridge cutting 1,000 jobs after completing takeover of Spectra Energy
CALGARY - The cuts have come swiftly at energy giant Enbridge Inc. (TSX:ENB), which is laying off about 1,000 staff less than a month after closing its blockbuster takeover of Houston-based Spectra Energy Corp. Calgary-based Enbridge says the layoffs, amounting to about six per cent of the 17,000 employees of the combined company, stem from the merger that closed Feb. 27. "After a careful evaluation, Enbridge has taken the difficult but necessary step to address the overlap in [Read more]
Trican, Canyon outline plan to combine through $637-million friendly deal
CALGARY - Two Calgary-based companies that provide services to the oil and gas industry are planning to combine forces through an exchange of shares and debt valued at $637 million. Trican Well Service Ltd. (TSX:TCW) would exchange 1.7 of its common shares for each share of Canyon Services Group Inc. (TSX:FRC) under the friendly deal, which is supported by the boards of both companies. Both companies say the offer is worth $6.63 per Canyon share, based on Trican's stock price at [Read more]
Going once, going twice: Uncertainty high ahead of Stampede chuckwagon auction
CALGARY - Kurt Bensmiller uses an old expression when asked what he expects Thursday night during the annual chuckwagon canvas auction for the Calgary Stampede. "There's lots of interest out there but everyone's holding their cards pretty close to their chests," says the 17-year veteran of chuckwagon racing. "With anything, it takes a little while before everybody really gets spending again." The chuckwagon races are one of the marquee events at the Stampede, and the [Read more]
Provinces considering carbon pricing watch Ontario’s first cap-and-trade auction
TORONTO - Ontario's cap-and-trade system aimed at lowering greenhouse gas emissions begins in earnest Wednesday with its first auction, which other provinces said they will be watching closely as they consider their own carbon pricing plans. The provincial Liberal government hopes the auction — held every three months — will bring in $1.9 billion a year, or $8 billion by the end of 2020, to be invested in programs that reduce emissions and help businesses and consumers adapt to a [Read more]
Federal agencies respond to Enbridge spill in industrial area east of Edmonton
CALGARY - Federal agencies responded Tuesday to an oil spill at an Enbridge Inc. (TSX:ENB) storage site that contaminated a creek in an area east of Edmonton. The National Energy Board said staff are on site monitoring the company's response, while the Transportation Safety Board of Canada said it's deploying a team of investigators to the spill. The TSB rarely dispatches teams to pipeline-related incidents, with none sent last year and only one in 2015. The agency, which [Read more]
Canadian natural gas producers in for more losses as U.S. competition ramps up
CALGARY - The Conference Board of Canada says natural gas producers are in for more losses as they face flat North American demand and increased U.S. competition. In its five-year outlook, the Conference Board says Canadian production will decline as the U.S. becomes more self-sufficient thanks to an abundance of shale gas projects. Years of supply increases to the south, coupled with a warm winter, led to the lowest prices since the late 1990s last year and pre-tax losses of [Read more]
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