BOE Report

B.C. to legislate $36 billion agreement with Pacific NorthWest LNG

VICTORIA - Finance Minister Mike de Jong says the potential economic returns from British Columbia's first liquefied-natural-gas deal will outweigh any targeted-tax tradeoffs included in a 25-year deal he expects to table in the legislature next week. De Jong said Monday he expects British Columbians will support the blueprint for the largest private-sector investment in the province's history that is valued at $36 billion, estimated to create 4,500 construction jobs and projected to generate [Read more]

Pipelines, climate change on the agenda as Harper, Notley meet in Calgary

CALGARY - Climate change, pipelines and flood mitigation were on the agenda Monday as Alberta Premier Rachel Notley and Prime Minister Stephen Harper had their first formal meeting.If there was tension between the NDP premier and the Conservative prime minister, neither let on. In a photo opportunity before the meeting, Notley asked Harper about how his Stampede had been so far and the two tipped their cowboy hats for the cameras. After the meeting, Notley said it wasn't her impression that [Read more]

Edmonton man charged with 2 counts of murder at Alberta oil industry work camp

FOX CREEK, Alta. - An Edmonton man has been charged with murder in the deaths of two people at a work camp in northwestern Alberta.RCMP say a man and a woman were stabbed early Tuesday morning at the oil industry camp near Fox Creek, Alta.Court documents identify them as Dave Derksen and Hally Dubois.Police say the 37-year-old man was from La Crete, Alta. and the 50-year-old woman was from Red Deer.Mounties shot and wounded the suspect at the camp, known as Berland Open Lodge.Daniel Goodridge, [Read more]

Alberta Energy Regulator shuts down Murphy Oil wells for non-compliance

CALGARY - The Alberta Energy Regulator has forced Murphy Oil to shut heavy oil wells in northwestern Alberta because the company didn't meet the rules for properly handling gases.In an unannounced compliance sweep of 71 sites last month, the regulator found 16 Murphy wells weren't meeting a requirement to capture and flare, incinerate, or conserve all casing gas and tank-top gases according to a schedule set out by the company.Following that, the AER ordered Arkansas-based Murphy to conduct [Read more]

‘Party like it’s 2014!’ Corporate Calgary cuts Stampede spending amid oil gloom

CALGARY - This time last year David Howard was getting ready to host a number of high-profile corporate parties as part of Calgary's Stampede, but that's not the case this time around."Basically, it's gone from where last year we were producing two events a day to where we're out of the game completely," said Howard, president of the Event Group.His company is one of many feeling the bite of low oil prices as energy companies cut back spending on this year's Stampede, which kicks off [Read more]

Gulf states reach $18.7 billion settlement with BP over 2010 Deepwater Horizon oil spill

NEW ORLEANS - Trying to close the books on the worst offshore oil spill in U.S. history, BP agreed Thursday to provide billions of dollars in new money to five Gulf Coast states in a deal the company said would bring its full obligations to an estimated $53.8 billion.Federal and state government officials touted the record-breaking $18.7 billion agreement as a historic milestone in the Gulf Coast's recovery. The Deepwater Horizon disaster killed 11 rig workers and spewed millions of gallons of [Read more]

TransCanada: Alberta’s tougher CO2 rules bolster case for Keystone XL

CALGARY - TransCanada wants the U.S. State Department to include recent Canadian climate change announcements in its review of the Keystone XL pipeline, arguing those developments bolster the case for the long-delayed project.The Calgary-based pipeline builder outlined its rationale in a letter sent Monday to Secretary of State John Kerry and other U.S. officials as the U.S. regulatory process nears its seventh anniversary."We are asking the U.S. State Department to consider these recent [Read more]

New York formalizes ban on fracking, ending 7-year environmental and health review

ALBANY, N.Y. - New York formalized its ban on high-volume hydraulic fracturing for natural gas on Monday, concluding a seven-year environmental and health review that drew a record number of public comments."After years of exhaustive research and examination of the science and facts, prohibiting high-volume hydraulic fracturing is the only reasonable alternative," Department of Environmental Conservation Commissioner Joe Martens said in announcing the decision. "High-volume hydraulic fracturing [Read more]

Imperial Oil, partners defer exploration drilling plans in Beaufort Sea

CALGARY - Imperial Oil and its partners are deferring plans to explore for oil in the Beaufort Sea because they need more time to study how to safely drill in harsh Arctic waters.Imperial, its U.S. parent ExxonMobil and BP are asking the federal government for a seven-year extension to their licence, which expires in 2020."For us, it's all about giving us the time to do the work we believe necessary so that we can deliver the most technically sound and environmentally responsible program we [Read more]

Shell Canada boss welcomes Alberta’s toughened-up carbon emissions rules

CALGARY - At least two big carbon emitters have given the thumbs-up to Alberta's plan to strengthen its greenhouse gas rules over the next 18 months.Capital Power (TSX:CPX) CEO Brian Vaasjo cheered the changes at a news conference alongside Environment Minister Shannon Phillips on Thursday, saying more green energy investment is likely to result."Not only is it the right thing to do, it's the right time to do it," said Vaasjo, whose Edmonton-based company generates power from coal, natural gas [Read more]