BOE Report

Alberta politicians reply to Toronto NDP candidate’s anti-oilsands remarks

EDMONTON -- A comment by a prominent Toronto NDP candidate Friday on Alberta's oilsands touched off a political storm on Saturday with the other parties and one provincial politician chiming in. Linda McQuaig, a well-known author and journalist, was quoted as saying during a CBC television panel discussion on Friday that "a lot of the oilsands oil may have to stay in the ground" if Canada is to meet its climate change targets. A Calgary Conservative incumbent, who was also on the program [Read more]

TransCanada braces for Obama rejection, already planning next move

WASHINGTON - The Canadian company involved in the controversy-plagued Keystone XL pipeline project has begun planning its response to an anticipated rejection of the project by U.S. President Barack Obama.In its public statements, TransCanada Corp. is expressing hope Obama might still approve the pipeline, which over the course of its years-long delay has become an irritant between the U.S. and Canadian governments.But people close to the project say the company has become all but convinced a [Read more]

Kinder Morgan pulls Trans Mountain pipeline ads during election campaign

VANCOUVER - Kinder Morgan will pull advertising for its proposed Trans Mountain pipeline expansion during the federal election campaign, after a British Columbia New Democrat seeking re-election complained about a flurry of ads in local newspapers.Kennedy Stewart sent a letter to Canada's elections commissioner earlier this week. He said if the company wants to promote a position on an election issue, it must register with Elections Canada as a third-party advertiser subject to spending [Read more]

Natural gas pipeline from B.C. to Chicago shut down due to hydrogen sulphide

CALGARY - A natural gas pipeline that extends from northeastern British Columbia to the Chicago area has been shut while its operator disposes of dangerous hydrogen sulphide gas that got into the system.Alliance Pipeline said it expects its mainline to be closed for an "indeterminate amount of time" as it deals with the gas, which is poisonous, corrosive, flammable and smells like rotten eggs. The company did not say how much of it entered the pipeline, only that the amount exceeded its [Read more]

Canadian Natural posts $405-million net loss on higher tax rate, lower revenue

CALGARY - Canadian Natural Resources is warning that Alberta's corporate tax hike will hit employment, though both company executives and Premier Rachel Notley agree the steep drop in crude prices is a much bigger challenge.The Calgary-based oil and gas giant posted a net loss of $405 million during the second quarter, mostly because of a $579-million charge related to the higher tax rate.All things being equal, the higher tax tab means $579 million less will be invested over the lifespan of [Read more]

Natural gas supplier seeks assurances on pipeline access over LNG plants

HALIFAX - The senior manager of Nova Scotia's natural gas distributor says his company wants to ensure that it has adequate access to the sole pipeline into Atlantic Canada if liquefied natural gas export terminals are approved in the region.Heritage Gas applied in May to intervene in licence applications by three potential LNG export facilities filed with the National Energy Board.The subsidiary of AltaGas (TSX:ALA) says if the proposed East Coast projects by Pieridae Energy Ltd., Bear Head LNG [Read more]

New chairman appointed to lead Nova Scotia’s offshore petroleum board

HALIFAX - The independent agency that regulates Nova Scotia's offshore petroleum industry is getting a new chairman.Federal and provincial politicians announced today that Keith MacLeod will begin his six-year term at the Canada-Nova Scotia Offshore Petroleum Board on Aug. 17.MacLeod is an engineer with 33 years' experience in the international oil and gas industry.He recently retired as CEO and chairman of Sproule, a Calgary-based company that specializes in economic evaluations of oil and [Read more]

Kinder Morgan pipeline opponents furious about ‘chaotic’ review process

VANCOUVER - The National Energy Board is facing a fresh round of resistance to its embattled review of the proposed Kinder Morgan Trans Mountain pipeline expansion.Three separate parties — British Columbia's Opposition New Democrats, the City of Burnaby and the Sierra Club — all issued renewed challenges to the process on Thursday.The NDP submitted its letter of comment to the board to outline concerns with the risks of the project and flaws in the review, concluding the expansion should not [Read more]

Cenovus Energy looking to cut jobs, slashing dividend by 40 per cent

CALGARY - Cenovus Energy Inc. (TSX:CVE) says it's looking to cut between 300 to 400 jobs in the second half of this year, and is chopping its quarterly dividend by 40 per cent.The energy company says it will now pay a quarterly dividend of 16 cents per share, down from its earlier rate of 26.62 cents.Cenovus also ended the three per cent discount shareholders received if they participated in the company's dividend reinvestment plan.The company has been slashing costs as it deals with the drop in [Read more]

White House says Keystone XL decision will come before Obama goes

WASHINGTON - The White House says a decision will be made on the Keystone XL pipeline while President Barack Obama is still in office, as rumours swirl that the long-delayed project is on the verge of rejection.It's not saying when the decision will come or what it will be.A spokesman for the president was asked Wednesday about the issue after a Republican lawmaker declared that he'd heard from his sources that the Canada-U.S. pipeline will be rejected in an announcement next month.Spokesman [Read more]