EDMONTON - Federal Natural Resources Minister Greg Rickford says time is of the essence for Canada to get its oil and gas to markets because other countries are getting into the game.Rickford told a business crowd in Edmonton that Russia is spending a lot on exploration, while England, Poland and Romania are also sitting on a large supply of shale gas, and they're looking to be an energy power as well.The minister said Friday that he's looking at 2017-2018 as a medium-range goal to get Canada's [Read more]
International energy researcher to focus on oilsands at Calgary university
CALGARY - Nanotechnology similar to that used to kill tumours in cancer patients could be adapted to improve in situ oil recovery in Alberta's oilsands, says an international researcher.Steven Bryant, a world-leading nanotechnology expert from the University of Texas in Austin, was introduced Thursday as the latest Canada Excellence Research Chair at the University of Calgary.A federal energy research program awards world-renowned scientists and their teams up to $10 million over seven years to [Read more]
Green groups lose bid to turn off the taps on hydraulic fracturing
VANCOUVER - A judge will not stop the flow of fresh water from British Columbia's lakes and rivers to hydraulic fracking operations, but did recognize the issue as a growing public concern.The Western Canada Wilderness Committee and the Sierra Club filed a petition against the B.C. Oil and Gas Commission and energy company EnCana Corp. (TSX:ECA) over the commission's decision to grant repeat short-term water approvals to the company.The environmental groups wanted the court to declare the [Read more]
New Brunswick premier heading to Alberta to discuss Energy East Pipeline
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]
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