BOE Report

Alberta on track for $10.8B deficit, but 25,000 jobs added: finance minister

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EDMONTON - Alberta's fiscal outlook for this year is a tiny bit better, but still billions of dollars in the red. Finance Minister Joe Ceci says the estimated deficit for this year has been revised to $10.8 billion, slightly lower than the $10.9 billion forecast three months ago. "(It's) a small but measurable improvement," Ceci told reporters at the legislature Monday as he gave the second-quarter update for the 2016-17 budget. Ceci said there are signs that an economy [Read more]

First Nation against Kinder Morgan pipeline rejects Standing Rock-style protests

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OTTAWA - Representatives of a B.C. First Nation that is deeply opposed to a proposed pipeline expansion emerged from a meeting Monday with Natural Resources Minister Jim Carr to say they believe the fix is in. But Chief Maureen Thomas of the Tsleil-Waututh Nation says that if the federal Liberals do approve Kinder Morgan's Trans Mountain oil pipeline, her people have no interest in the kind of violent confrontations taking place in Standing Rock over the Dakota Access pipeline. [Read more]

‘Troubled children’ failures restore stability for rest of Canadian oilpatch

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CALGARY - Mergers and acquisitions experts are predicting fewer Canadian oil and gas companies will go bust over the next year as most of the "troubled children" of the industry have already failed or been sold. Tom Pavic, vice-president of Calgary-based Sayer Energy Advisors, said 26 Canadian energy companies have entered into a court-monitored receivership or restructuring process so far this year. That's up from 20 in 2015, when the total matched the number of failures [Read more]

Manitoba grand chief says blockades could support pipeline protesters in U.S.

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PORTAGE LA PRAIRIE, Man. - A Manitoba indigenous chief says there's a desire for action — which could include blockades of Canadian pipelines and railways — in support of a protest against a North Dakota pipeline project. Grand Chief Terry Nelson of the Southern Chiefs Organization says chiefs and others attended a meeting Saturday at the Dakota Tipi First Nation near Portage la Prairie to discuss how to react if the U.S. government clears demonstrators from a camp occupied by the Dakota [Read more]

Feds say they’ll negotiate national clean fuel standard with provinces

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TORONTO - The federal government says it will work with the provinces to develop a national clean fuel standard, the latest piece in its pan-Canadian climate plan. Environment Minister Catherine McKenna announced the measure in a speech Friday to the Toronto Board of Trade as she continues preparing the ground for a first minister's meeting next month in Ottawa. Prime Minister Justin Trudeau is tentatively scheduled to sit down with the provincial and territorial premiers in two [Read more]

Liberals delay announcing fate of Line 3, Northern Gateway

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TORONTO - The federal environment minister touted oil and gas as "essential bridges" to a low-carbon economy Friday even as the government delayed announcing the fate of two pipeline projects. Catherine McKenna, who was speaking at an event hosted by the Toronto Board Region of Trade, said the government wasn't ready to make an announcement about Enbridge's proposed Line 3 pipeline replacement and the Northern Gateway pipeline, saying only that a decision would be made public "shortly." [Read more]

CAPP says pipeline delays hurting Canada’s reputation with investors

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Canada’s pipeline gridlock is harming its global reputation as an attractive place to invest in oil and gas projects, says a leading industry group. Tim McMillan, CEO of the Canadian Association of Petroleum Producers (CAPP), said Donald Trump’s election in the United States adds pressure to Canada to clear regulatory hurdles blocking new projects. “We may see some or a lot of that capital that would normally come to Canada going other places and to the U.S., who is targeting it,” McMillan [Read more]

Quickfacts: What you need to know about Enbridge’s Line 3 pipeline project

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CALGARY - The Line 3 crude oil pipeline replacement project proposed by Calgary-based Enbridge Inc. (TSX:ENB) has attracted little attention despite its potential to increase Canadian exports to the United States. Here are some facts about the plan: — The $7.5-billion, 1,660-kilometre pipeline replacement project would be the most expensive in Enbridge history. — The line is almost half a century old and its regulated maximum throughput has been reduced through pressure [Read more]

Trudeau government set to make major decisions on Enbridge oilsands pipelines

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CALGARY - The federal government's lengthy balancing act between the energy industry and the environment will soon be tested as it rules on the fate of two major oilsands pipeline projects. The government has committed to decide by Friday on two projects proposed by Enbridge: the Line 3 pipeline replacement and Northern Gateway pipeline. Reuters reported Thursday that the government would announce its decisions on Tuesday, citing sources it said were familiar with the matter. The [Read more]

Oil and gas project delays hurting Canada’s reputation, industry group says

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VANCOUVER - Canada's pipeline gridlock is harming its global reputation as an attractive place to invest in oil and gas projects, says a leading industry group. Tim McMillan, CEO of the Canadian Association of Petroleum Producers, said Donald Trump's election in the United States adds pressure to Canada to clear regulatory hurdles blocking new projects. "We may see some or a lot of that capital that would normally come to Canada going other places and to the U.S., who is [Read more]