OTTAWA - The Supreme Court has announced it will review two decisions of the National Energy Board related to energy development and aboriginal consultation.In a decision released Thursday, the high court ruled it will hear a judicial review of a board decision to allow seismic testing in the waters off the east coast of Baffin Island, which was opposed by the Inuit village of Clyde River, Nunavut.The court also said the Chippewa of the Thames First Nation in southern Ontario can appeal an [Read more]
Petrolia says Quebec premier will respect contract to drill on Anticosti Island
QUEBEC - The Quebec government will respect a contract it signed with energy firm Petrolia for exploratory oil and gas drilling on Anticosti Island, the company's president said Wednesday after meeting with the premier.Alexandre Gagnon had been calling for a meeting with Philippe Couillard since the latter signalled a few weeks ago he wanted to back out of the deal."The project is going ahead and (the government) will respect the contract," Gagnon told reporters following the meeting.Couillard's [Read more]
Liberals share Energy East pipeline ‘common objective,’ Carr tells Senate
OTTAWA - Jim Carr, the Liberal government's point man on energy resources, says he shares a "common objective" with those who want to see the Energy East pipeline completed between Alberta and New Brunswick.The natural resources minister faced a barrage of questions in the Senate on Wednesday about TransCanada's controversial, $15.7-billion proposed oil pipeline.Former Liberal senators were among those pushing Carr to approve the project, with several making the case that an energy-rich country [Read more]
Esso deal to expand Couche-Tard’s presence in Canada’s two largest cities
MONTREAL - Alimentation Couche-Tard will earn a bigger slice of fuel sales in Canada's two largest markets after striking a $1.69 billion deal with Imperial Oil to buy 279 Esso retail stations.The Quebec-based company said 229 of the stations are located in Ontario, mainly in the Greater Toronto Area as well as London and Ottawa. Another 50 stores will be added in Montreal and the city's South Shore.The acquisition means Canada's largest convenience store operator will see its fuel market share [Read more]
Crescent Point writes down oil and gas assets, posts $382.4 million net loss
CALGARY - A day after Saskatchewan's election campaign kicked off, the boss of one of the province's major oil producers said he's happy with the incumbent government.On a conference call to discuss Crescent Point Energy's quarterly results on Wednesday, an analyst asked CEO Scott Saxberg if he had any thoughts on the campaign.Initially, Saxberg chuckled and said, "Not really."But after a pause, he said, "We're pretty supportive of the government there.""They've done a great job for that [Read more]
Imperial Oil to sell Esso stations to five fuel distributors for $2.8 billion
CALGARY - Imperial Oil says it has reached deals to sell its remaining 497 Esso retail stations in Canada to five fuel distributors for a total of $2.8 billion.Alimentation Couche-Tard Inc. is set to buy 279 stations in Ontario and Quebec for nearly $1.69 billion.Meanwhile, 7-Eleven Canada Inc. is buying 148 stations in Alberta and British Columbia, Harnois Groupe petrolier buying 36 in Quebec and Wilson Fuel Co. Ltd. buying 17 in Nova Scotia and Newfoundland.Parkland Fuel Corp. says it will buy [Read more]
Quebec premier urges calm during environmental hearings into pipeline
QUEBEC - Quebec Premier Philippe Couillard warned against irrational outbursts during the debate over the Energy East Pipeline on Tuesday, as environmental hearings into the controversial project entered their second day.Protesters briefly delayed the start of the hearings on Monday night by chanting loudly and unfurling an anti-pipeline banner in front of members of Quebec's environmental review agency committee tasked with investigating the risks and benefits of the project.Couillard said [Read more]
Alberta municipalities tout Energy East benefits, seek support across Canada
EDMONTON - Stung by criticism in Quebec of the proposed Energy East pipeline, Alberta municipalities are hailing the project's promise of jobs and economic growth.The Alberta Urban Municipalities Association has written a letter to its sister organizations across Canada seeking their support for Energy East."The letter cites estimates by the Conference Board of Canada that this project will support over 14,000 jobs annually during a nine-year development and construction stage," reads an [Read more]
Massive deficit from low oil prices looms as Newfoundland and Labrador delivers throne speech
ST. JOHN'S, N.L. - Newfoundland and Labrador's new Liberal government will deliver its first throne speech today as it tries to navigate a sea of red ink.The province recently had its credit rating downgraded as low oil prices drive up an unprecedented deficit that could top $2 billion.It relies on offshore oil for about one-third of government revenues, and was hit hard as prices dropped by more than half over the last 20 months.Today, Brent crude is trading for about US$41 a barrel, down from [Read more]
Alberta legislature back in session, with bills on carbon tax, labour, maternity
EDMONTON - Alberta's spring legislature session will focus on diversifying the province's battered oil-based economy, laying the groundwork for a carbon tax and cracking down on payday loan operators.Premier Rachel Notley said Tuesday there will also be $340 million in tax benefits for needy families and legislation to streamline and reduce a sprawling network of 301 boards, agencies and commissions.The tax benefits are expected to help 380,000 children. A low-income single parent with two [Read more]
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