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]
Alberta and New Brunswick premiers pledge renewed effort on Energy East pipeline
EDMONTON - Alberta Premier Rachel Notley and her New Brunswick counterpart Brian Gallant say they're hoping for a renewed push to get the Energy East pipeline built under incoming prime minister Justin Trudeau.But both agreed specific steps to reduce climate change must work alongside the proposed $12-billion TransCanada line.Gallant said the record of outgoing Prime Minister Stephen Harper is testament to why fixing climate change is not only good policy but also good business."Under the Harper [Read more]
Suncor CEO says COS takeover offer is fair, signalling bid won’t be sweetened
CALGARY - The CEO of Suncor Energy is throwing cold water on speculation that its hostile takeover offer for Canadian Oil Sands will be sweetened.Steve Williams said Thursday the $4.3-billion bid should be good enough for shareholders given the gloomy outlook for oil prices, operational woes at the Syncrude oilsands mine, the absence of a competing offer and Suncor's better resilience to commodity swings than its target."We think it is a full and fair offer and compelling," he said Thursday, a [Read more]
Cenovus Energy plans to cut $400 million in costs, lay off more workers
CALGARY - Cenovus Energy says it plans to cut $400 million in costs and has laid off more workers than originally expected as it continues to tighten its belt amid prolonged low crude prices.In announcing its third-quarter results today, the Calgary-based oil producer and refiner said it has reduced its workforce by 700 people for the second half of the year, about double what it forecast in July.That's on top of the 800 positions Cenovus eliminated in February.Cenovus says it expects to finish [Read more]
Suncor says it can improve Syncrude performance with COS takeover
CALGARY - Suncor Energy Inc. (TSX:SU) says if it's able to increase its stake in the Syncrude oilsands mine, operations at the sprawling development north of Fort McMurray, Alta., will run more smoothly."We believe that we can drive real improvements in Syncrude's performance with a larger ownership interest," CEO Steve Williams said in a release announcing Suncor's third-quarter results late Wednesday.Earlier this month, the oilsands giant launched a hostile takeover bid for Canadian Oil Sands [Read more]
Bad news for Canadian oilsands? U.S. pipeline-fighters celebrate downward turn
WASHINGTON - Opponents of Canada's oil industry are celebrating this week over news they see as vindication of a pipeline-fighting strategy that began in the United States with Keystone XL.Their burst of enthusiasm was prompted by news that Shell was shuttering an 80,000-barrel-a-day project — and specifically citing the lack of pipeline infrastructure as part of the reason.That announcement prompted a congratulatory message from a political activist who began organizing Nebraska ranchers [Read more]
Alberta town disappointed with cancellation of Shell’s Carmon Creek project
PEACE RIVER, Alta. - The mayor and council of a northwestern Alberta town are reacting to Royal Dutch Shell's announcement that it is scrapping its Carmon Creek oilsands project.The project is near the town of Peace River.The council said in a statement posted on the town website that it has caused great concern as Shell helped fund several community projects.Mayor Tom Tarpey says his first thought was for those working on the project.The town says the cancellation will not affect upgrades to [Read more]
Devon Energy cuts 200 jobs in Alberta oil patch on lower capital spending
CALGARY - Devon Energy says it has cut 15 per cent of its Canadian workforce as the company responds to lower capital spending plans.Oklahoma-based Devon said the staff reductions, completed Wednesday, mean about 200 employees have been let go in all areas of the company's Canadian operations, including its Calgary offices and northern Alberta field operations.Devon spokeswoman Nadine Barber said the company has significantly reduced capital spending in Canada after completing some major [Read more]
Premier Notley, cabinet fan out to begin selling controversial, landmark budget
EDMONTON - Alberta Premier Rachel Notley is shutting down suggestions her spend-heavy budget may ultimately trigger a sales tax to pay for it all.Notley told the house during question period Wednesday that no sales tax or harmonized tax will be created on her watch."That budget nor any other budget in the term of this government will not and does not include a PST," said Notley.The budget presented by Finance Minister Joe Ceci uses low interest rates and a downturn in the economy to ramp up [Read more]
TransCanada gets final regulatory approval for Prince Rupert gas pipeline
CALGARY - TransCanada Corp. says it has received final regulatory approval for a natural gas pipeline that will connect northeastern British Columbia's natural gas fields to the west coast.The company said Tuesday that the B.C. Oil and Gas Commission has issued 11 pipeline and facility permits that clear regulatory hurdles for construction to start on the $5-billion pipeline.The pipeline approval includes 70 conditions related to First Nations, the environment, conservation, engineering and [Read more]
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