VANCOUVER - A First Nation in North Vancouver has mounted a legal challenge that it says could send the Trans Mountain pipeline expansion "back to the drawing board" if successful.Lawyers for the Tsleil-Waututh Nation are asking the Federal Court of Appeal to stop the National Energy Board's review of the $5.4-billion project, which they say began without their client being consulted by the federal government."What we've asked the court to do is to recognize the flaws in the starting of the [Read more]
Alberta finance minister Ceci holds up dad’s old workboots as symbol of budget
EDMONTON - Premier Rachel Notley faced pointed questions on credit risk Monday, a day ahead of a budget that is expected to propel Alberta's debt levels even higher to pay for infrastructure projects.Wildrose Leader Brian Jean, citing recent comments from the DBRS rating agency, credit raters may have to revisit Alberta's top-shelf AAA rating if debt approaches 15 per cent of Alberta's gross domestic product."A lowering of the rating will increase the interest we have to pay on debt," Jean told [Read more]
Alberta promises to reset economic game plan despite deep red-ink budget
EDMONTON - Alberta's NDP government is set to reset the economic game plan Tuesday, choosing from a menu of unpalatable alternatives brought on by a core economy deep in the dumper of low oil prices"We've got a budget billions of dollars (in) the hole," Finance Minister Joe Ceci said in an interview."We have a fiscal structural problem in this province that needs to be repaired and we're starting to take steps to do that."The budget is the centrepiece of a fall legislature session that begins [Read more]
Oilpatch firms in for an ugly third quarter as crude doldrums linger
CALGARY - A bevy of oilsands producers are on deck to report their quarterly earnings over the next few weeks — and industry watchers are under no illusion they'll be pretty.It's been about a year since the price of oil started its nosedive to below US$50 a barrel, and crude has been camping out at that level for months. Few are optimistic that crude will return to triple digits any time soon.Investors are well aware they're in for a "fairly awful" quarter, said John Kim, a portfolio manager at [Read more]
Ex pipeline exec: Keystone XL can still be salvaged if Canada acts on climate
CALGARY - A retired executive with pipeline builder TransCanada Corp. believes the long-stalled Keystone XL project can still be salvaged — if incoming Liberal prime minister Justin Trudeau acts swiftly on climate change.Putting a price on carbon emissions is the last option Canada has available to persuade U.S. President Barack Obama to approve the controversial cross-border oilsands pipeline, said Dennis McConaghy, who left TransCanada (TSX:TRP) last year.He said it's been "enormously [Read more]
Precision Drilling writes down assets, says capital budget will plunge in 2016
CALGARY - Precision Drilling Corp. (TSX:PD) is writing down the value of its assets and planning for a much smaller capital spending budget next year, the company said Thursday as it reported a 38 per cent decline in third-quarter revenue.The Calgary based company reported an $87 million net loss, or 30 cents per share, for the three months ended Sept. 30, as revenue dropped to $364 million from $584.5 million in last year's third quarter when the oil and gas industry was booming.Precision [Read more]
Wall attends climate talks in Paris to voice Saskatchewan’s concerns
REGINA - Saskatchewan Premier Brad Wall says more can be done to help protect the environment, but he also wants to make sure new policies don't hurt the province.Wall says that's why it's important to raise Saskatchewan's concerns at a major climate talk in Paris."We want to make sure that whatever Canada is committing to doesn't kneecap our economy in the West," Wall said of the Paris talks."We think what we've seen so far from Mr. Trudeau, there are not a lot of details, but so far his [Read more]
COSIA boss says members “doubling down” despite low crude prices
CALGARY - Members of Canada's Oil Sands Innovation Alliance are "doubling down" on sharing their green technologies despite the pinch from low crude oil prices, the group's boss said Wednesday.Oilsands firms are sharing about as many different technologies now, with oil below US$50 a barrel, as they were last year, when crude peaked at US$107 a barrel, Dan Wicklum said in an interview.The aim of COSIA, which was launched in early 2012, is to enable competing oilsands companies to share [Read more]
Shell changes response to possible blowout, gets OK to drill off Nova Scotia
HALIFAX - A federal regulator will allow Shell Canada Ltd. to begin exploration drilling off Nova Scotia after it reduced the number of days it would take the company to bring in capping technology in the event of a subsea well blowout.The company says it would have a capping stack on site within 12 to 13 days after previously saying it would take up to 21 days.The Canada-Nova Scotia Offshore Petroleum Board said Tuesday it is satisfied that Shell is taking all reasonable precautions to protect [Read more]
Alberta Energy Regulator says charges laid against Apache Canada for 2013 spill
CALGARY - An energy company with a troubled safety history is facing seven charges related to a pipeline spill that leaked roughly 1.8 million litres of contaminated water in a remote area of northwestern Alberta.Apache Canada Ltd. has been charged under the Environmental Protection and Enhancement Act, the Public Lands Act and the Pipeline Act for the October 2013 spill near Zama City that leaked a mix of water, salt, oil and minerals onto more than 3.8 hectares of land.Alberta Energy Regulator [Read more]
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