BURNABY, B.C. - Angry protesters stopped crews from conducting pipeline survey work on Burnaby Mountain Wednesday, forcing the company to reassess how it will finish work needed for a National Energy Board decision. RCMP officers watched as some protesters confronted a Trans Mountain survey crew, yelling "go back to Texas," while another protester crawled under a survey crew's SUV, wrapped himself around the front tire and refused to leave.Stephen Collis, a spokesman for the protesters who call [Read more]
BG Group pressing pause button on Prince Rupert LNG project, citing pricing
CALGARY - British energy firm BG Group is hitting the pause button on its proposed liquefied natural gas project near Prince Rupert, B.C., as it takes stock of shifting market conditions."All we're doing at this point in time is pausing on Prince Rupert. We're not abandoning Prince Rupert," interim executive chairman Andrew Gould told analysts Tuesday on a conference call to discuss BG's third-quarter results."We will continue to work on the project, but not at the same rhythm that perhaps we [Read more]
Burnaby to appeal NEB decision granting Kinder Morgan access to city-owned land
BURNABY, B.C. - The City of Burnaby, B.C., is refusing to back down from its fight with Kinder Morgan, saying it plans to appeal a National Energy Board decision granting the energy giant access to a municipal conservation area.The city has tried in recent months to block the company from conducting survey work in the area on Burnaby Mountain — Kinder Morgan's preferred route for the expansion of the Trans Mountain pipeline.But the energy board ruled last week that Burnaby can't stop the [Read more]
Ottawa carefully monitoring impact of low oil prices ahead of fall fiscal update
OTTAWA - The federal government says it's carefully monitoring the impact of sliding oil prices on public finances as it prepares to release its fall economic update.Canada's junior finance minister said Tuesday that even as tumbling energy prices eat away at tax revenues, the government still believes it can deliver a balanced budget next year."Any time there's a dynamic like falling oil prices that we see happening right now globally, we monitor it very closely," Kevin Sorenson said Tuesday in [Read more]
Energy stocks fall as oil slips below $80
NEW YORK (AP) — The price of oil dipped below $80 a barrel Monday, after a major investment bank lowered its forecast for crude prices this year and next. Goldman Sachs analysts now expect U.S. oil prices to be roughly $75 a barrel in 2015, down from their previous forecast of $90 a barrel. Goldman also sees Brent crude, a benchmark used to price international oils used by many U.S. refineries, to be around $85 a barrel. Rising oil production, particularly in the U.S., and the concerns [Read more]
Pacific Northwest LNG president resigns, Progress Energy chief to fill role
VANCOUVER - The president of Pacific Northwest LNG, which is looking to build a multibillion-dollar project near Prince Rupert, B.C., has resigned, the consortium led by Malaysian energy giant Petronas said Friday.Pacific Northwest LNG said Greg Kist plans to return to his home and family in Alberta."Under Greg's leadership, the company was formed and continues to work towards a final investment decision this year," Pacific Northwest chairman Dato' Wee Yiaw Hin said in a statement."He leaves [Read more]
Enbridge stands ground, tells National Energy Board that Line 9 design is safe
CALGARY - Enbridge Inc. (TSX:ENB) insists in a regulatory filing that its design for the Line 9 pipeline through southern Ontario has the right shut-off valve configuration to minimize the risk to waterways and reservoirs in the event of a rupture.The Calgary-based company was responding to the National Energy Board's decision to delay a restart of the pipeline because it's "not persuaded" that Enbridge has met one of the the conditions attached to the NEB's approval of the project.Line 9 had [Read more]
Cenovus, Husky take oil price drop in stride, stress flexibility is key
CALGARY - Executives with two big Canadian oil companies are taking recent oil price weakness in stride, signalling no immediate plans to throttle back spending, but ensuring they have the flexibility to do so if needed.Cenovus Energy Inc. (TSX:CVE) and Husky Energy Inc. (TSX:HSE) are both in the midst of finalizing their capital budgets in 2015, with details set to be unveiled in December.Cenovus CEO Brian Ferguson gave a glimpse Thursday of what next year's budget will look like — roughly the [Read more]
No need for Kinder Morgan to register as third party advertiser: Elections BC
VANCOUVER - Elections BC says energy giant Kinder Morgan does not need to register as a third-party advertiser in the province's civic election campaign.A Vancouver-area member of Parliament asked Elections BC look into the issue, saying Kinder Morgan is running advertisements about the Trans Mountain pipeline expansion during the municipal election period.Burnaby-Douglas New Democrat MP Kennedy Stewart said the pipeline proposal is a key campaign issue for several municipalities and he [Read more]
Petronas-led Pacific Northwest LNG consortium reviewing B.C. tax announcement
CALGARY - A consortium led by Malaysian energy giant Petronas says it's not yet clear what British Columbia's new tax on liquefied natural gas will mean for the economics of its proposed multibillion-dollar project near Prince Rupert, B.C."It's important to take time to gain a wholesome understanding of taxation matters before commenting in detail," Spencer Sproule, senior adviser of corporate affairs for Pacific Northwest LNG, said in an emailed statement.The new tax starts in 2017 at a rate of [Read more]
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