REGINA - Saskatchewan Premier Brad Wall says a delay in the proposed Keystone XL pipeline underscores the importance of the Energy East pipeline.Wall says without a pipeline, more oil will be transported by rail, which he argues brings a higher safety risk.Keystone XL would carry crude from Canada to the Gulf Coast, but the company involved has asked the U.S. government to temporarily suspend the application.TransCanada Corp. says it needs more time as it deals with legal wranglings over the [Read more]
Mayor of town where Keystone would begin says it’s not the only game in town
HARDISTY, Alta. - The mayor of the southeast Alberta community where the Keystone XL pipeline would begin says news that TransCanada Corp. has asked the U.S. government to temporarily suspend its application comes as a blow.Anita Miller calls the move "really unfortunate" and says it's going to affect "lots and lots of people" in Hardisty, Alta., particularly in support businesses such as gas stations, hotels and restaurants.But she adds Keystone is not the only game in town. While activity has [Read more]
Newfoundland and Labrador introduces new generic royalty regime for offshore oil
ST. JOHN'S, N.L. - The Newfoundland and Labrador government released details of its new generic offshore oil royalty regime on Monday, saying the simplified system will make the province more competitive on the world stage.Natural Resources Minister Derrick Dalley said the new framework will see royalty rates increase as fields become more profitable, but he insisted the new generic regime will also provide a more predictable starting point for energy companies.Under the old regime, the province [Read more]
New Brunswick, Saskatchewan premiers meet to talk up Energy East pipeline project
REGINA - New Brunswick Premier Brian Gallant continued his western trip talking up the Energy East pipeline in Saskatchewan.Gallant met with Saskatchewan Premier Brad Wall in Regina.They talked about the benefits of the proposed $12-billion TransCanada line that would take oil from Alberta and Saskatchewan across the country to refineries and ports in the East, ending in New Brunswick.Gallant says the project would create thousands of jobs across the country and at the same time diversify [Read more]
Notley sympathetic to energy woes but no short-term lifelines contemplated
CALGARY - Alberta Premier Rachel Notley says she sympathizes with the plight of energy companies and their employees due to low oil prices, but her government isn't in a position to offer any short-term lifelines.The Canadian Association of Petroleum Producers has estimated 36,000 jobs in the oil and gas sectors have been shed so far this year."We know of course that where these jobs disappear that it's very hard for families. It's very hard for communities. It's very hard ... for the people who [Read more]
NEB says whistleblower concerns over TransCanada pipeline safety resolved
CALGARY - A whistleblower's concerns over TransCanada Corp's (TSX:TRP) pipeline safety practices have been resolved, according to results of a National Energy Board investigation.The federal regulator said Friday that six of the 16 allegations against the company were partially substantiated, but that TransCanada had taken the appropriate steps to fix the problems. The remaining 10 allegations could not be verified.The environment and public safety were not at risk and no enforcement action was [Read more]
Husky posts $4.1-billion loss in Q3 as it recognizes reduced value of assets
CALGARY - Husky Energy is planning further job cuts and asset sales as it looks to consolidate projects in Western Canada to help the company weather the ongoing downturn in the oilpatch."Basically we are transitioning from a business with a large number of small plays into a business with a focus on fewer but more material plays," Husky chief operating officer Rob Peabody said during an earnings conference call Friday.The company has already cut 1,400 jobs across its offices and field [Read more]
Shell says scrapped project not timed to coincide with Alberta budget
EDMONTON - Royal Dutch Shell says its announcement scrapping the Carmon Creek oilsands project in northwestern Alberta was not deliberately timed to coincide with this week's Alberta budget.In a letter to Cheryl Oates, Premier Rachel Notley's press secretary, Shell spokeswoman Tara Lemay says the timing of the announcement was "due to the market disclosure of an impairment" in advance of the company's quarterly results.Lemay says the company was given a brief window after the market closed to [Read more]
Cuts continue in oil and gas sector as companies struggle to reduce costs
CALGARY - Canada's oilpatch continues to move aggressively to cut costs and companies say the efforts are starting to show results.Cenovus Energy said Thursday that it had increased to 700 the number of people laid off in the second half of the year, roughly double what it forecast in July, after cutting 800 jobs in February.The company said it expects to end the year with 24 per cent fewer staff than it started with and there are plans for more cuts next year as it makes structural [Read more]
Wall defends lack of transparency on problems at carbon- capture facility
REGINA - Saskatchewan Premier Brad Wall is defending the government's silence on problems at the province's much-celebrated carbon-capture facility.The $1.5-billion facility at the Boundary Dam power plant near Estevan can capture 90 per cent of emissions when it's working. However, background notes prepared for the government and leaked to the Opposition NDP show it's only been working 45 per cent of the time.The premier says, in hindsight, the government and SaskPower could have been more [Read more]
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