BOE Report

Saskatchewan’s Wall pitches his province over Alberta for royalty stability

WEYBURN, Sask. - Saskatchewan Premier Brad Wall is using the NDP's pending royalty review in Alberta to pitch his province to the oil industry.In a speech to an industry audience in Weyburn this week, Wall promised his government has no plans to review the rates it charges oil companies in Saskatchewan.With oil prices currently hovering around US$60 a barrel, the industry doesn't need any instability, Wall said."We like where royalties are at," he told reporters covering his address at the [Read more]

Ads for pipeline company Enbridge yanked from screens in Tim Hortons locations

CALGARY - Tim Hortons has brewed up controversy for its decision to yank ads by pipeline giant Enbridge from its in-store screens.On Thursday morning, the coffee-and-doughnut purveyor responded to complaints about the ads on Twitter, telling individual users: "We value your feedback and the Enbridge advertisements are no longer airing on 'Tims TV.'"But the tempest in a Timbit only grew as oil industry supporters lashed out against the move.The top-trending Twitter hashtag on Thursday afternoon [Read more]

Canadian LNG export prospects have ‘darkened,’ international report says

CALGARY - The outlook for Canada's liquefied natural gas industry over the next five years has "darkened," said a report released Thursday that casts clouds over British Columbia's LNG ambitions.The report by the International Energy Agency predicts Canada won't have any LNG export projects online by 2020, which would go against B.C.'s goal of having three LNG plants in operation by that time.The B.C. government has been betting big on LNG for economic growth. It has said it expects more than [Read more]

Alberta should copy Alberta on oil royalties: former Norwegian finance minister

OTTAWA - A former Norwegian finance minister says Alberta's new government should take inspiration on handling resource revenues from the same place her country found it — Alberta."We were inspired by Alberta when we established our sovereign wealth fund," said Kristin Halvorsen, who was Norway's finance minister from 2005 to 2009 and led that country's Socialist Left party in a coalition government."But there have been many differences in how we established the fund."Alberta's new NDP [Read more]

Canada crude oil production estimated at lowest in almost two years: report

CALGARY - A report by Barclays says Canada's crude oil production last month is estimated to be the lowest it has been in almost two years.While companies have yet to release production numbers, the British bank says wildfires and upgrader maintenance in Alberta are expected to have cut average national production to 3.98 million barrels of oil a day in May after peaking at an average of 4.59 million barrels a day in January."We expect Canadian crude production in May to be the lowest in nearly [Read more]

Western premiers talking diversification in light of low oil prices

REGINA - Canada's western premiers discussed ways to diversify their economies in light of plunging oil prices during a teleconference call Monday.Saskatchewan Premier Brad Wall was host on the call that was a substitute for the annual western premiers meeting to save time and money.Both he and British Columbia Premier Christy Clark noted that their provinces are heavily reliant on resource revenue, but have had to find other ways to bring in cash with the downturn in energy prices."We're [Read more]

TransCanada reaches deals with 3 more B.C. First Nations for pipeline project

PRINCE RUPERT, B.C. - TransCanada Corp. says it has reached project agreements with three more First Nations in northern British Columbia as part of efforts to build a pipeline across the province to a proposed liquefied natural gas terminal on the coast.Specifics of the agreements weren't announced but TransCanada said they provide for annual legacy payments over the commercial life of the Prince Rupert Gas Transmission pipeline plus benefits upon signing and at other milestones.The latest [Read more]

B.C. activists protest Shell oil drilling ship’s movement through Inside Passage

VANCOUVER - A group of environmentalists and B.C. First Nations opposed to Arctic oil exploration are protesting a multinational oil and gas company's movements through the West Coast's Inside Passage.International environmental organization Greenpeace says Royal Dutch Shell is transporting its oil-spill-containment vessel, the Arctic Challenger, up B.C.'s coastline to the Aleutian Peninsula in Alaska.Chief Calvin Craigan of the Sechelt First Nation says increased tanker traffic in the region [Read more]

New coating made in Edmonton for pipelines could cut down leaks, spills:official

EDMONTON - A nanotechnology advancement being developed at Edmonton's Northern Alberta Institute of Technology could hold the key to making pipelines safer.Reg Allen of Meso Coat Technology Canada says the spray coats the inside of the pipe and could double the life of the line, even with something as corrosive as oil or gas flowing through it.Western Diversification Minister Michelle Rempel was in Edmonton Friday to announce the government is giving the company $1.5 million to develop the [Read more]

US oil and natural gas rig count drops by 10 to 875; down 4 in Texas

HOUSTON - Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 10 this week to 875.Houston-based Baker Hughes said Friday 646 rigs were seeking oil and 225 explored for natural gas. Four were listed as miscellaneous. A year ago, with oil prices nearly double the current levels, 1,866 rigs were active.Among major oil- and gas-producing states, Texas lost four rigs, California declined by three and Arkansas, Louisiana and [Read more]