BOE Report

Republican Gov. Chris Christie heads to Calgary to talk energy, Keystone

CALGARY - New Jersey's governor says delaying the Keystone XL pipeline sends a bad message to investors, stunts the growth of the Canadian oilsands industry and is no way to treat a key ally of the United States.One of the Republican party's top prospects for a run at the White House in 2016, Gov. Chris Christie travelled to Calgary on Thursday to back the controversial TransCanada (TSX:TRP) pipeline from Alberta's oilsands to the Gulf Coast and pan the time it is taking Washington to make a [Read more]

Canadian Oil Sands cuts quarterly dividend by 42 per cent amid lower oil prices

CALGARY - Canadian Oil Sands Ltd. is cutting its quarterly dividend by 42 per cent as it aims to protect its balance sheet in a gloomy oil price environment.The Calgary-based firm (TSX:COS), whose main asset is a 37 per cent stake in the massive Syncrude oilsands mine north of Fort McMurray, Alta., said it plans to reduce its dividend to 20 cents from 35 cents when it reports its fourth-quarter earnings in late January.With the current dividend level, Canadian Oil Sands said its net debt would [Read more]

Petronas delaying decision on B.C. LNG as oil slump further squeezes economics

CALGARY - Malaysian energy giant Petronas said Wednesday it's delaying its proposed liquefied natural gas terminal near Prince Rupert, B.C., even though it's pleased with recent moves the provincial government has made to make the nascent LNG industry more competitive.Petronas acknowledged the B.C. government has "brought resolution to key policy matters," such as establishing a tax regime for LNG firms, detailing offsets for greenhouse gas emissions and gaining support from First Nations.But [Read more]

Wynne, Prentice meet to talk Energy East pipeline amid Central Canada concerns

TORONTO - Ontario's concerns about the environmental impact of the proposed Energy East pipeline narrowed considerably Wednesday following a meeting between Premiers Kathleen Wynne and Jim Prentice of Alberta.Ontario and Quebec had set out seven principles for the $12-billion pipeline project, which would carry western crude to refineries in eastern Canada, the most notable relating to its potential impact on climate change.But after meeting Prentice in her office, Wynne said her concerns were [Read more]

Saskatchewan’s Premier says falling oil prices will tighten next year’s budget

REGINA - Saskatchewan's premier says falling oil prices could make next year's budget "tight," but the government will endeavour to balance it.Brad Wall said the cornerstone of the government's growth plan is fiscal responsibility, so he won't accept an operational deficit.The premier made the comments Tuesday following a state-of-the-province address to the Regina and District Chamber of Commerce.Last week, the government released its mid-year budget update and estimated the average price of [Read more]

Prentice and Couillard reiterate their respective positions on Energy East

QUEBEC - TransCanada Corp. should abandon its plan to build an oil terminal in an area in eastern Quebec where belugas have been listed as an endangered species, Premier Philippe Couillard said Tuesday.A federal government wildlife committee recently concluded that their numbers near Cacouna have dwindled to 1,000 from a high of 10,000.That information will make the project harder for TransCanada (TSX:TRP) to sell the Energy East project at environmental hearings in Quebec and with the National [Read more]

New Brunswick premier wants fracking moratorium passed by Christmas

FREDERICTON - The premier of New Brunswick says his government will introduce legislation for a moratorium on fracking for shale gas during the fall legislative session that begins Wednesday and he wants it passed by Christmas.The Liberals, who won a majority government in the September election, campaigned on a promise to bring in a moratorium, saying more information is needed before allowing shale gas fracking to continue.Premier Brian Gallant said his government will refuse to approve [Read more]

Canadians’ future ‘hangs in the balance’ in pipeline debate: Alberta premier

VANCOUVER - Alberta's premier is urging the country to get behind several controversial pipeline projects linked to the province's oilsands, warning that all Canadians will "feel the pain" if they aren't approved and built soon.Premier Jim Prentice told a business audience in Vancouver that energy development such as Alberta pipelines, B.C. liquefied natural gas terminals and Quebec hydroelectric developments will be at the heart of Canada's economic future.In particular, Prentice said the [Read more]

Energy East: TransCanada standing down on further work in Quebec

QUEBEC - TransCanada Corp. will halt all work on an oil terminal in eastern Quebec in response to concerns the project could hurt a beluga habitat.The company said Monday it is "standing down" on all work in Cacouna after a report by a federal government wildlife committee concluded that the whales are endangered.TransCanada (TSX:TRP) wants to build a 4,600-kilometre pipeline to carry 1.1 million barrels per day of oilsands crude from Alberta to refineries in Quebec and New Brunswick.The planned [Read more]

‘We can do business:’ Prentice to discuss Energy East with Ontario and Quebec

CALGARY - Alberta Premier Jim Prentice is scheduled to meet with his Ontario and Quebec counterparts this week to lobby for support of the Energy East pipeline.A spokeswoman says Prentice is to meet Quebec's Philippe Couillard on Tuesday and Ontario Premier Kathleen Wynne on Wednesday.Both eastern premiers have a list of demands about the proposal. They want contingency plans and emergency response programs in place, consultations with First Nations and consideration of environmental impact and [Read more]