SAINT ANDREWS, N.B. - New Brunswick Premier Brian Gallant is scheduled to head to Alberta next week to discuss the proposed Energy East Pipeline project with Alberta Premier Jim Prentice.Gallant will spend four days in Alberta, where he will also meet senior TransCanada (TSX:TRP) officials in Calgary.He says he also wants to meet with Alberta business leaders to show his commitment to the $12-billion development and help secure opportunities for New Brunswick.Former premiers David Alward and [Read more]
Oil exporting nations feeling pinch of low oil prices, oil importing ones feeling some relief
NEW YORK - A sudden plunge in the price of oil is sending economic and political shockwaves around the world. Oil exporting countries are bracing for potentially crippling budget shortfalls and importing nations are benefiting from the lowest prices in four years.The global price of oil is near $84 per barrel, down about $31, or 27 per cent, from its high point for the year. Oil consumption globally is 91 million barrels per day. That means the world's oil producing countries and companies are [Read more]
TransCanada pipeline conversion faces building pushback in Quebec
MONTREAL - Pushback is building in Quebec over TransCanada Corp.'s $12-billion, cross-country project to convert a natural gas pipeline to oil, just weeks before the company files its formal proposal with the national energy regulator.Quebec's largest natural gas distributor, Gaz Metro, plans to enlist the support of the provincial government to oppose the project that it says will lead to supply shortages, higher prices and threaten Quebec's economic growth."The project in its current version [Read more]
Conference Board issues bleak outlook for natural gas, urges movement on LNG
CALGARY - The global liquefied natural gas market is shifting in favour of buyers across the Pacific, making life more complicated for firms already struggling with the economics of exporting the fuel from the West Coast, an energy conference heard Wednesday."You've kind of seen the dynamics flip around a little bit. I think it's been a seller's market for a while and now I think it's a buyer's market," said Don Althoff, CEO of Veresen Inc., a Calgary-based company planning on shipping gas from [Read more]
Federal Court to hear review of ruling on Shell’s Jackpine project in Alberta
VANCOUVER - The federal government's approval of a proposed oilsands mine expansion is being reviewed in Federal Court tomorrow.The court is to hear three days of arguments over accusations that Ottawa ignored an Alberta aboriginal bands's worries about Shell's Jackpine project.The project was approved last December despite concerns from a regulatory panel that reviewed it.That panel said Jackpine would create irreversible environmental damages.The Athabasca Chipewyan First Nation says the [Read more]
U.S. midterms: Stage may be set for a big vote on Keystone XL pipeline
WASHINGTON - A certain Canadian pipeline appears poised to spring back to the top of the American political agenda, with the upcoming congressional elections setting the stage for a vote on the long-delayed Keystone XL project.Republicans have all but declared that they would try to use their new dominance in Congress to push through a Keystone bill, should they win the Senate in three weeks as many predict.The pipeline issue had been a little more dormant in Washington since the spring, as [Read more]
Facts and figures on Canadian oil and gas production and investment
OTTAWA - Some facts and figures about Canada's oil and gas sector:Foreign direct investment through eight months 2014: $19.6 BillionRecord annual foreign direct investment: $25.6 Billion, 2007Canadian crude oil production 2006: 2.65 million barrels per dayCanadian crude oil production 2013: 3.46 million barrels per dayPercentage of Canadian oil production from Alberta: 78 per cent, 2013Percentage of Canadian energy production going to U.S.: 98 per centCanada sits third in the world, behind [Read more]
Alberta Energy Regulator approves pipeline from oilsands to Edmonton
EDMONTON - The Alberta Energy Regulator has approved the $3-billion Grand Rapids oil pipeline with 26 conditions.The pipeline is designed to ship up to 900,000 barrels of diluted bitumen per day from near Fort McMurray, Alta., to the Edmonton area.Several of the conditions deal with the pipeline's route and others deal with enhanced environmental monitoring and mitigation to better protect wildlife and wetlands.The approval follows two weeks of hearings this summer.The hearings were boycotted by [Read more]
NEB delays start-up of Enbridge’s newly reversed Line 9 oil pipeline
CALGARY - The start-up of Enbridge Inc.'s newly reversed Line 9 pipeline has been delayed by at least a few months as the National Energy Board seeks greater assurances that waterways along its route will be protected.The federal energy watchdog said in a letter this week it's "not persuaded" the Calgary-based pipeline giant (TSX:ENB) is meeting one of the conditions it attached to its approval of the project in March.Condition 16 has to do with where valves are placed in relation to water [Read more]
MP wants Kinder Morgan to register with Elections BC as third-party advertiser
BURNABY, B.C. - A Vancouver-area member of Parliament believes energy giant Kinder Morgan should register with Elections BC as a third-party advertiser because of firm's pipeline expansion ads.The civic election period has begun, and Elections BC rules say anyone who runs ads on an election issue must register as a third-party advertiser and disclose costs within 90 days after the Nov. 15 election.New Democrat MP Kennedy Stewart, who represents Burnaby-Douglas, says in a letter to Elections BC [Read more]
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