CALGARY - Canada's oil well drilling industry will continue to shrink next year and may never bounce back to recent levels, the industry's main representative body said Wednesday."The drilling and service rig industry is facing one of the most difficult economic times in a generation," Mark Scholz, president of the Canadian Association of Oilwell Drilling Contractors, said in presenting the association's 2016 forecast."The active rig count in Western Canada today is at the same level as we [Read more]
TransCanada touts projects beyond headline-grabbing Keystone XL, Energy East
CALGARY - Major pipeline proposals like Keystone XL and Energy East may have been getting an awful lot of ink recently, but TransCanada Corp. wants its shareholders to also pay attention to the smaller, less splashy aspects of its business.In addition to the $35 billion in large-scale projects it has on the go, TransCanada is working on $13 billion in small- to medium-sized developments that are expected to come into service over the next three years.None of those have been as headline-grabbing [Read more]
Enbridge cutting 500 jobs across company, leaving 100 positions unfilled
CALGARY - Pipeline operator Enbridge (TSX:ENB) is cutting five per cent of its workforce as low oil prices continue to take their toll on the energy sector.The move affects 500 people at all levels of the company in the United States and Canada.The company says it is also leaving 100 positions unfilled.Enbridge's peer, TransCanada, has also been cutting staff, starting with its higher leadership ranks.Enbridge spokesman Graham White says those receiving layoff notices will receive support and [Read more]
U.S. senator who supports carbon capture now critical of Saskatchewan project
REGINA - An American senator who has promoted the importance of carbon- capture technology is suggesting that he's been misled about its success in Saskatchewan.Sen. Joe Manchin says the carbon-capture facility at the Boundary Dam power plant has "failed to operate successfully for any meaningful period of time."Manchin is also critical of the U.S. Environmental Protection Agency for including the Saskatchewan project in its greenhouse gas emissions standards."Many of the glowing performance [Read more]
National energy plan needed to replace focus on individual projects: Valero CEO
MONTREAL - The owner of one of Canada's largest oil refineries hopes a first ministers' meeting later this month will begin to develop a national energy strategy to replace what he sees as a piecemeal focus on individual projects like Keystone XL and Energy East."We have to have a road map here nationally so that we understand what we want to do here with the different forms of energy," Valero Energy CEO Ross Bayus said Monday.While not willing to criticize the former Conservative government, [Read more]
Lorraine Mitchelmore, head of Shell’s Canadian division, stepping down
CALGARY - The head of Royal Dutch Shell's Canadian operations is leaving her job at the end of this year.Lorraine Mitchelmore has been Shell Canada's president and country chair for past six years and has led the global energy giant's heavy oil business for three.Mitchelmore says she decided to move on in order to spend more time with her two daughters, the youngest of whom is in Grade 6.She says her next career steps will involve contributing to Canada's prosperity by serving on select boards. [Read more]
Former U.S. ambassador ’embarrassed’ by handling of Keystone XL review
CALGARY - A former American ambassador to Canada says he is embarrassed by how the U.S. government handled the Keystone XL pipeline review.David Wilkins, who was ambassador during the presidency of George W. Bush, says there was no need to take seven years to announce a decision.U.S. President Barack Obama rejected the US$8-billion cross-border pipeline a week ago on the grounds it would neither help the U.S. economy nor its efforts to combat carbon emissions.Wilkins, speaking at an energy [Read more]
Calgarians waiting for ‘other shoe to drop’ over energy woes: mayor
CALGARY - Calgary's mayor says plunging oil prices haven't had as dire an effect on the city as most had expected, but many in the industry are still waiting for the "other shoe to drop."Naheed Nenshi says despite headlines about job losses in the energy sector, Calgary actually gained more jobs than it lost in the first half of 2015.But he adds many expect the worst is yet to come because of U.S. President Barack Obama's rejection of the Keystone XL Pipeline."With the announcement on Keystone, [Read more]
After Keystone XL denial, a boom for crude-by-rail is not a foregone conclusion
CALGARY - Now that the Keystone XL pipeline has been rejected, it's not a foregone conclusion that much of the 830,000 barrels a day that would have flowed through it will move on trains instead, industry watchers say."I think that rail certainly will play a part, but a lot has to do what happens to the price of crude and happens to oilsands projects," said Dirk Lever, an analyst at AltaCorp. Capital.Proponents of Keystone XL and similar proposals frequently trumpeted the benefits of moving [Read more]
Statoil to put up $82 M for exploration of Nova Scotia’s offshore
HALIFAX - Offshore regulators in Atlantic Canada awarded oil exploration licences to several industry giants Thursday, totalling more than $1.2 billion in Newfoundland and Labrador alone.The Canada-Newfoundland and Labrador Offshore Petroleum Board said it had awarded seven parcels worth a combined $1,204,953,713.Norwegian-based Statoil is a partner in five of the seven bids and was also awarded a solo bid worth $423 million.Other companies to be involved in the potential exploration include BG [Read more]
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