NEW YORK - Halliburton agreed to pay $1.1 billion to settle what it calls "a substantial portion" of plaintiff claims arising from the 2010 BP oil spill in the Gulf of Mexico.The settlement, if approved by a federal court, would allow businesses and property owners who were hurt by the oil spill to collect punitive damages from Halliburton through a fund to be administered by a court-appointed representative. These plaintiffs will receive or have already received compensation for their economic [Read more]
Premiers close to agreeing on outline of energy deal: Northwest Territories
CHARLOTTETOWN - Quebec's rookie premier, Philippe Couillard, made his presence felt at his first meeting with Canada's other premiers, agreeing Friday to have his province join in the development of a national energy strategy that had been stalled by a previous separatist government.Couillard, among 13 provincial and territorial leaders attending an annual meeting in Charlottetown, said at the conclusion of the conference that he had concerns about joining the Canadian Energy Strategy, which has [Read more]
Trudeau 50 years late on shale gas, New Brunswick Premier David Alward says
CHARLOTTETOWN - Federal Liberal Leader Justin Trudeau is a half century behind when he says there should be greater scientific study before the shale gas industry expands, Premier David Alward said Thursday.Alward leader took an unprompted shot at Trudeau's position at the end of a news conference about a labour mobility agreement with British Columbia."Justin Trudeau is 50 years late," the Progressive Conservative leader said in Charlottetown."The reality is the scientific work has been taking [Read more]
AER says Plains making progress on safety, but will continue to monitor
CALGARY - The pipeline company behind two high-profile oil spills has improved its safety practices, but there's still more work to be done, an audit by the Alberta Energy Regulator has found.The watchdog said in a report this week that Plains Midstream Canada has not met, or just partially met, many of the requirements of a safety audit.However, it said: "As a result of improvements and initiatives undertaken by PMC over the last year, the AER's overall conclusion is that PMC has and maintains [Read more]
Shell Canada using ‘warehouse’ approach to drive down oilsands costs
CALGARY - Shell Canada Ltd., in an effort to cut costs and boost efficiency at its oilsands operations, has found inspiration in an unlikely place: online retailer Amazon.The company recently adopted a "warehousing" approach to how it manages its tools and equipment, president Lorraine Mitchelmore told reporters Wednesday. That way, workers don't waste their time hunting down a piece of pipe and trucks don't sit idle while mechanics wait on a certain part.Right now, Shell has the ability to [Read more]
Scotiabank’s commodity price index heads down in July, affected by oil prices
TORONTO - Scotiabank's commodity price index edged down by 0.3 per cent on a month-over-month basis in July due to lower oil prices as supply concerns about Libya and Iraq eased.The oil and gas sub-index was down 3.9 per cent month-over-month in July.However, Scotiabank commodity market specialist Patricia Mohr says while traders have bid down near-term oil prices, current geopolitical developments will reduce supply over the long term.Mohr noted that the December 2019 oil futures contract is up [Read more]
Vancouver to take Trans Mountain pipeline challenge to Federal Court
VANCOUVER - The city of Vancouver is going to court to try and have global climate change considered in Kinder Morgan's Trans Mountain pipeline proposal.The city will ask the Federal Court of Appeal on Friday for a judicial review of the National Energy Board process for the project.Vancouver officials already asked the board to take climate change into account but the regulator decided in July it would not.Now the city wants the court to decide, said Sadhu Johnston, deputy city manager."What [Read more]
Kinder Morgan doesn’t need permission to study Burnaby Mountain route: NEB
VANCOUVER - The National Energy Board has sided with Kinder Morgan in a dispute with the City of Burnaby over access to Burnaby Mountain.The company can proceed with necessary studies of its preferred pipeline route through the mountain without the city's consent.In a decision released Tuesday, the National Energy Board confirmed that under federal legislation the company doesn't need permission to access the land that is home to Simon Fraser University and a vast nature preserve."It would not [Read more]
Trudeau blasts Harper for bungling pipelines needed by Alberta, PM’s home turf
EDMONTON - Justin Trudeau moseyed into Harper country Tuesday and accused the prime minister of being "all hat and no cattle" when it comes to pipelines.The Liberal leader and his three dozen MPs were in the capital of Alberta, Prime Minister Stephen Harper's home province, to plot strategy for the coming pre-election year.The Liberals have high hopes of making a breakthrough in Alberta, long a rock-solid Conservative fortress, in the 2015 election. The province has been a wasteland for Liberals [Read more]
CEO of bankrupt Kentucky oil company sentenced to nearly 3 years in prison, scammed investors
LOUISVILLE, Ky. - The CEO of a bankrupt southern Kentucky oil company has been sentenced to nearly three years in prison for scamming investors into giving him money for three oil partnerships in Kentucky and Tennessee.Young Oil Corp. executive Anthony L. Young of Knob Lick pleaded guilty in March to defrauding investors in both states.Young acknowledged that from November 2007 through December 2008, he fraudulently solicited investments through his company and took the majority of the money for [Read more]
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