BOE Report

‘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]

Thieves targeting crack pipes and copper wire drive oilpatch crimes spike: RCMP

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CALGARY - When it comes to protecting thousands of remote oil and gas well sites scattered across Alberta's prairies and foothills, RCMP Cpl. Curtis Peters is more concerned about crack addicts than vandals. The 854 crimes reported at those sites in the first 10 months of 2016 have already exceeded the number in all of 2015, RCMP statistics show, an increase some are blaming on Alberta's economic slowdown. Almost all of the reports have been related to theft, said Peters, adding [Read more]

Opposition says billion-dollar Saskatchewan deficit can be blamed on government

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REGINA - The Saskatchewan economy has dominated debate in the Saskatchewan legislature for a second day. Opposition critic Warren McCall said Wednesday the billion-dollar deficit is due to mismanagement by the Saskatchewan Party government. He said the government has no plans to get finances back on track, noting the government of Premier Brad Wall is cutting education spending and job training at a time when there are 11,000 more people looking for work. Economy Minister [Read more]