BOE Report

Shell’s Scotford upgrader shut down after problem with sulphur recovery unit

FORT SASKATCHEWAN, Alta. - Shell Canada says a problem with a sulphur recovery unit at its Scotford upgrader northeast of Edmonton has resulted in the unit being shut down.Spokesman Jeff Mann says it happened Monday afternoon at the facility in Fort Saskatchewan.He says the upgrader had to increase flaring in order to shut down the unit in a controlled manner.Mann says Shell was monitoring air quality and testing showed sulphur dioxide levels were below guidelines.Mann says there is no health [Read more]

How the oil shock turned federal budget wish lists into watery wine

OTTAWA - As last autumn's colours were setting in, veteran Ottawa lobbyist Dan Kelly was confident the spring would produce a federal budget surplus with ample room for announcements.But following a long winter, the head of the Canadian Federation of Independent Business is approaching Tuesday's election-year budget with his hopes somewhat in check."Things were trucking on really well, we were certainly thinking very positively about some of our requests — some of our tax-reduction requests in [Read more]

US oil and natural gas rig count drops by 34 to 954 as oil prices slump; down 15 in Texas

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 34 this week to 954 amid depressed oil prices.Houston-based Baker Hughes said Friday 734 rigs were seeking oil and 217 explored for natural gas. Three were listed as miscellaneous. A year ago, 1,831 rigs were active.Among major oil- and gas-producing states, Texas plummeted by 15 rigs; Oklahoma was down six; North Dakota lost five; Wyoming was down four; and California, [Read more]

Protesters in kayaks greet Arctic drill rig as it arrives in Washington state harbour

PORT ANGELES, Wash. - Protesters in kayaks greeted a rig that could be used for oil drilling in the Arctic as it arrived Friday in Washington state following a journey across the Pacific that included being boarded by Greenpeace activists.The 400-foot Polar Pioneer was due to be offloaded in Port Angeles, on the Olympic Peninsula, to have equipment installed.About three dozen protesters took to the water, many of them in kayaks, as the rig arrived in the harbour at 7 a.m., the Peninsula Daily [Read more]

Natural gas pipeline, facilities in northern B.C. get energy board approval

VANCOUVER - The National Energy Board has given approval for the construction of a natural gas pipeline and new facilities proposed by TransCanada Corp. (TSX-TRP) in northern B.C.The $1.7-billion North Montney Mainland Project would include a 300-kilometre pipeline connecting from northeast B.C. to the proposed Prince Rupert Gas Transmission Pipeline for export of liquefied natural gas.The board found that the projects did not pose significant adverse environmental effects, although the [Read more]

Oil-dependent Newfoundland and Labrador lacks competitive edge, study says

ST. JOHN'S, N.L. - It has come a long way economically in the last 15 years but oil-dependent Newfoundland and Labrador needs innovation and a workforce influx to compete in future, says a new report.The Conference Board of Canada released Thursday a study comparing the province to nine of its main competitors, selected for similar exports among other factors. They include Norway, the United Kingdom, Texas, North Dakota, Alberta, Saskatchewan, Quebec, Nova Scotia and New Brunswick.It ranks the [Read more]

BoC keeps 0.75% interest rate, even though economy likely stalled in early 2015

OTTAWA - The Bank of Canada stuck with its trendsetting interest rate Wednesday even though it believes the oil-price shock stalled the economy to the point it had zero growth over the first three months of 2015.The central bank's justification for keeping its key rate at 0.75 per cent hinged, in large part, on its positive outlook for the non-energy sector, which it expects to materialize as the economic pain from the oil slump fades. The bank predicted those improvements would show up in the [Read more]

U.S. approaching historic switch to being a net exporter of energy: report

WASHINGTON - The United States is approaching a historic economic tipping point: in about a decade, the country will cease to be a net importer of energy, a government forecaster predicted Tuesday.Sometime around 2028, the U.S. will become a net energy exporter for the first time since the late 1950s, according to the annual long-term forecast released by the U.S. Energy Information Administration.It said lower consumption, more efficient vehicles, increased domestic production of oil and [Read more]

Oil spill 90 per cent cleared but slick reaches beaches north of city: officials

VANCOUVER - Depending on who you were listening to on Tuesday, the response to Vancouver's toxic fuel spill was either a fine example of speed and co-ordination or a chaotic event filled with miscommunication.Coast guard commissioner Jody Thomas called the agency's handling of the spill "excellent" while city manager Penny Ballem stopped short of outright criticizing its response in a report to council.The spill dumped at least 2,700 litres of bunker fuel into English Bay last week.Ballem [Read more]

Ontario and Quebec will sign cap-and-trade deal Monday to curb climate change

TORONTO - Ontario Premier Kathleen Wynne will sign an agreement Monday with Quebec on a cap-and-trade system to put a price on carbon in an effort to reduce greenhouse gas emissions.Ontario government sources told The Canadian Press Wynne will announce the deal at a news conference in Toronto Monday, before flying to Quebec City to make it official with Quebec Premier Philippe Couillard.The agreement between Ontario and Quebec will be signed one day before the other provincial and territorial [Read more]