CALGARY - Imperial Oil Ltd. (TSX:IMO) says its Kearl oilsands project will be shut down for several weeks as a precaution while the company deals with an equipment malfunction.Imperial says it will install replacement parts to deal with vibration detected at Kearl's ore-crusher unit.It didn't provide an estimate about how much production will be lost during that period or provide a target date for a startup.Kearl had been producing about 92,000 barrels per day on average through the third [Read more]
Alberta premier, aboriginals to discuss oilsands concerns
FORT CHIPEWYAN, Alta. - Alberta Premier Jim Prentice and aboriginal chiefs from the oilsands region have agreed to sit down face-to-face to try to deal with concerns that have resulted in a number of lawsuits and reviews."There's a lengthy list of issues and grievances which need to be discussed and I think the best way to do that is for the premier to actually engage with the leadership of those First Nations," Prentice said after meetings with the leadership of the Athabasca Chipewyan and [Read more]
Pipeline issues are scabs on people’s lives: Rocker Neil Young in Vancouver
VANCOUVER - Music icon Neil Young says Canadians need to stand up for clean air, land and water by taking on big oil companies because issues involving pipelines are "scabs on our lives."He said Canadians must band together to ensure the Charter of Rights and Freedoms includes the right to live in a healthy environment.Young was in Vancouver as part of the lineup of entertainers and artists including Barenaked Ladies, Feist and Robert Bateman for the last stop of the national Blue Dot Tour, [Read more]
Alberta premier says he will ‘do what needs to be done’ to gain access to Asian markets
CALGARY - Alberta Premier Jim Prentice says he'll "do what needs to be done" to help move forward the controversial Northern Gateway pipeline and to gain access to Asian markets for the province's oil and gas.Prentice was asked Friday if he would take a direct role in negotiating with chiefs in the areas of northern B.C. where the pipeline is supposed to run."I'm not going to get into that today, but I'll tell you this — our prosperity in this province depends on our ability to access global [Read more]
Proposed Kitimat, B.C., LNG project to cost up to $40 billion: company
VICTORIA - A major player in British Columbia's liquefied natural gas sweepstakes has plans to spend up to $40 billion to build a proposed export facility on the province's northern coast that could generate up to $39 billion in tax revenues over its lifespan.The massive dollar figures were part of LNG Canada's environmental certificate application released Friday by the joint venture company that includes Shell Canada Energy (TSX:SHC), PetroChina, Korea Gas Corp. and Mitsubishi Corp.The B.C. [Read more]
Company files application to export liquefied natural gas from Nova Scotia
POINT TUPPER, N.S. - The company behind a proposed liquefied natural gas project in Nova Scotia says they have filed an application with the National Energy Board for an export licence.Bear Head LNG Corporation, a subsidy of the Australia-based Liquefied Natural Gas Ltd., says it's asking for licences to import natural gas from the United States and export liquefied natural gas for a 25-year term.If approved, the plant would be authorized to export eight million tonnes of liquefied natural gas [Read more]
White House: We’d ‘consider’ a bill on Canada’s Keystone XL pipeline
WASHINGTON - The White House says it would be willing to consider a bill authorizing construction of Canada's Keystone XL pipeline, should the new Republican-dominated U.S. Congress produce such legislation.Republicans have made it clear they'll try using their new power to force Barack Obama to approve the long-delayed project, through legislation for him to sign.But whether the president would actually sign such a bill or automatically veto it remains an open question — one Obama's spokesman [Read more]
Fontaine says First Nations talks on Energy East on the right path
CALGARY - Engaging with aboriginal groups along the route of the proposed Energy East pipeline hasn't been without its challenges, but the former chief of the Assembly of First Nations believes TransCanada Corp. (TSX:TRP) is on the right track.Phil Fontaine has been working with TransCanada on the community outreach aspect of Energy East, a $12-billion proposed pipeline that would ship Alberta crude to refineries and export terminals in Quebec and New Brunswick."I've really been impressed with [Read more]
No bidders for latest four parcels of Nova Scotian offshore oil and gas lands
HALIFAX - There are no bidders for the latest four deepwater parcels put on the auction block by the Canada-Nova Scotia Offshore Petroleum Board.The sites on the eastern Scotian Slope of the province's offshore were put up for auction by the regulator on May 5.Bidding closed at the end of last month.BP and Shell (TSX:SHC) are continuing to work on their offshore exploration of deepwater properties.In May, the province announced it would spend $12 million over four years to fund research to [Read more]
Saudi move to discount oil signals trouble for OPEC, could mean period of low fuel prices
VIENNA - Saudi Arabia showed little concern for fellow OPEC members by unilaterally cutting its oil prices to the U.S. this week, a move that casts doubts on the cartel's credibility and its ability to find a common plan to stabilize the slumping energy market.And while OPEC struggles to find consensus, oil prices risk remaining low — or falling further — to the benefit of consumers and businesses in the U.S. and worldwide.OPEC is already riven by differences among its members on what the ideal [Read more]
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