VANCOUVER, BC, Canada - Royal Dutch Shell is postponing a final investment decision on its proposed liquefied natural gas mega-project in British Columbia as it grapples with plummeting earnings due to low energy prices.Chief executive Ben van Beurden said Thursday that the company was delaying a final commitment on the LNG Canada project in northwestern B.C. as it makes "substantial changes in the company" that will likely include further spending cuts on top of the $12.5 billion it cut last [Read more]
Suncor CEO: 1,700 jobs cut in 2015, company ‘overachieved’ on cost cutting
CALGARY - The CEO of Canada's biggest oilsands player says about 1,700 jobs were shed over the past year or so — far surpassing its original target.Just over a year ago, Suncor Energy (TSX:SU) announced it would be cutting 1,000 jobs because of the sharp downturn in crude prices."We significantly overachieved," CEO Steve Williams said on a conference call with analysts on Thursday to discuss Suncor's fourth-quarter results.About 1,900 contractor and full-time employee positions were cut. But [Read more]
Energy conference hears it’s time for frank talk on energy use, costs and GHGs
OTTAWA - The controversial Energy East pipeline has now been endorsed by a provincial premier from each of Canada's three main political parties, interim Conservative leader Rona Ambrose said Wednesday in the House of Commons.She was, of course, trying to score political points by depicting Justin Trudeau's federal Liberal government as dragging its heels on TransCanada's proposed $15.7-billion west-to-east energy project.But the comment illustrates a much broader point, one echoed earlier this [Read more]
NEB says Energy East application too hard to understand, orders changes
CALGARY - The National Energy Board is directing TransCanada to rework its application for the contentious Energy East pipeline because the document is too hard to understand — even for experts.The federal energy watchdog, in a letter to the Calgary-based pipeline builder (TSX:TRP) on Wednesday, said it's not requesting a whole new application.Rather, it wants the reams of information already filed to be repackaged in a way that is easier to navigate.The company first submitted its application [Read more]
Oil workers call for more action on EI, pipelines, debt, as Trudeau visits Alberta
CALGARY - Prime Minister Justin Trudeau arrives in Alberta on Wednesday with oil prices in the gutter, the province's unemployment on the rise and many in the oilpatch concerned for their future.Here is what some Albertans have to say as Trudeau visits the province:Chase Scoville, 19, of Red Deer, can't find any apprenticeships to continue his studies as a heavy equipment technician. He's been laid off from three jobs in the oil sector and wants Trudeau to pay more attention to what's going on [Read more]
Premier Rachel Notley says Alberta’s owed economic payback from Ottawa
EDMONTON - Alberta Premier Rachel Notley and Prime Minister Justin Trudeau emerged from a meeting Wednesday with a formal commitment to fast-track $700 million in previously committed federal infrastructure money to the struggling province."The federal government is committed to fast-track infrastructure investments for Alberta, and indeed all provinces and territories," Trudeau told reporters in the rotunda of the legislature after the meeting."This will help promote jobs and growth where they [Read more]
Energy East builder TransCanada to announce deal with big international firm
MONTREAL - The company planning to build the Energy East pipeline says it has concluded a "major supply agreement" with an international firm that will benefit the Quebec economy.Officials of TransCanada Corp. (TSX:TRP) and the president and CEO of ABB Canada are going to be in Montreal on Wednesday to sign the deal. ABB Canada is a division of ABB Group, a huge Swiss-based power and automation technology firm whose customers are involved in utilities, industry, transport and [Read more]
QuickFacts: How Alberta’s economy has performed vs. its past self and Canada
OTTAWA - Alberta's economy took a nosedive with the downturn in oil prices. Growth and employment have both taken a hit.Here are some facts, including forecasts from BMO Capital Markets.THE GOOD OL' DAYS:Growth: In 2014, the Canadian economy as a whole grew 2.5 per cent, while Alberta expanded 4.8 per cent.Unemployment: That same year, the national unemployment rate was 6.9 per cent, while it was 4.7 per cent in Alberta.Debt and deficits: In the 2014-15 fiscal year, Canadian governments as a [Read more]
Trudeau to visit struggling Alberta where oil sector seeks support for pipelines
OTTAWA - Prime Minister Justin Trudeau travels Wednesday to Alberta, where the battered oil sector will be looking for strong signals that Ottawa is serious about helping deliver its controversial commodity to tidewater.The president of the Canadian Association of Oilwell Drilling Contractors said Tuesday the industry isn't looking for a handout — just federal support on the contentious issue of building pipelines.Mark Scholz warned if the industry can't get its product to market, then Alberta [Read more]
Oil industry group says Trans Mountain panel subjected to ‘abuse’ from opponents
CALGARY - A vice-president at the Canadian Association of Petroleum Producers has lashed out at opponents of the Trans Mountain pipeline review process, calling much of the criticism "shameful" and "abusive."Nick Schultz was first up Tuesday as a three-member panel weighing the multibillion-dollar project began hearing oral arguments from interveners in Calgary."In the course of this long process, you have been subjected to unfair criticism — systematic abuse, in fact — from some who simply want [Read more]
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