CALGARY - Many hurdles remain before U.S. oil giant Chevron Corp. can decide the fate of its planned liquefied natural gas project in Kitimat, B.C., and finding a new partner is just one of them, CEO John Watson said Friday."It's not a schedule-driven project. It's an economics-driven project," Watson told reporters ahead of the annual Spruce Meadows Changing Fortunes Round Table in Calgary.This summer, Chevron's partner in the project, Texas-based Apache Corp., announced it was getting out of [Read more]
Poland sees slump in natural gas deliveries from Russian, forcing halt to exports to Ukraine
WARSAW, Poland - Russian natural gas deliveries to Poland have dropped by almost a quarter this week, the country's gas monopoly said Wednesday, forcing it to stop supplying gas on to Ukraine.The reason for the drop was unclear, with Russian energy company Gazprom denying any fall in exports. Some commentators believe it to be retaliation by Moscow against Poland for its decision to help Ukraine with gas.Neighbouring Germany's energy company E.On also said it registered small reductions in [Read more]
Federal Industry Minister James Moore looking forward to Prentice as premier
CALGARY - Federal Industry Minister James Moore says he expects soon-to-be Alberta premier Jim Prentice will be a welcome ally when it comes to future pipeline projects.Prentice spent years in Stephen Harper's government in cabinet posts that included Indian Affairs and Northern Development, Environment and Industry.Prentice stepped away from politics in 2010 to take a corporate job in Calgary. He was also hired by Enbridge to try to bring First Nations on side with the company's Northern [Read more]
B.C. city asks court to block Kinder Morgan pipeline work
VANCOUVER - A suburban city near Vancouver has filed a civil lawsuit targeting Kinder Morgan's controversial Trans Mountain pipeline, alleging the company caused "irreparable harm" to a sensitive conservation area when workers cut down trees along the route of a proposed expansion.The City of Burnaby filed a notice with B.C. Supreme Court asking for an injunction to prevent Kinder Morgan from felling trees on Burnaby Mountain, as well as a judgment overturning a National Energy Board ruling that [Read more]
Lifting ban on crude exports would lower US gasoline prices, help economy, study predicts
NEW YORK - Exporting more U.S. oil around the world would lower the price of gasoline for U.S. drivers and benefit the nation's economy, according to a new study.While the conclusion may be counter-intuitive, the reasoning is straightforward: It would encourage more U.S. oil production and put that crude on the global market. That would lower the global price of oil, which is linked closely to the price of gasoline in the U.S.Previous studies have reached similar conclusions. The latest study, [Read more]
As Energy East application nears, communities weigh risks, benefits of pipeline
CALGARY - For the mayor of North Bay, Ont., it's all about protecting the city's sole source of drinking water from a pipeline spill.When TransCanada Corp. files a regulatory application later this month for its $12-billion Energy East pipeline, Al McDonald says he'll be looking for assurances that Trout Lake, and the creeks that feed into it, won't be harmed by an oil spill."I have to look my community in the eye and say that I've done everything I can to protect our only source of drinking [Read more]
Nova Scotia could miss economic opportunity with fracking ban: finance minister
TORONTO - Nova Scotia could be missing out on an economic opportunity by banning high-volume hydraulic fracturing, federal Finance Minister Joe Oliver warned Thursday after the province decided to indefinitely prohibit fracking for onshore shale gas.Oliver argued that fracking has been going on in several provinces for decades without any contamination of drinking water.However, he didn't point out that the Nova Scotia ban specifically applies to high-volume fracking, which requires far more [Read more]
Northern Gateway pipeline unlikely to start up by 2018, project president says
CALGARY - The president of the Northern Gateway pipeline says it's unlikely the project will start up in 2018 as the company seeks to win over B.C. First Nations groups, many of which remain adamantly opposed to the $7.9-billion project."We have stated that the earliest in-service date was 2018. That's quickly evaporating because we need to have this time to meet with people," John Carruthers told a Calgary business audience on Thursday."I'm not as fussed on what that date is. I'm more fussed on [Read more]
Nova Scotia to introduce legislation to ban fracking for onshore shale gas
HALIFAX - The Nova Scotia government will prohibit high-volume hydraulic fracturing for onshore shale gas, saying Wednesday the ban will remain in place until the province's population is ready to embrace the industry.Energy Minister Andrew Younger said Nova Scotians have made it clear they are "not comfortable" with fracking."There is not a community in this province ... where there's a large number of people pushing to allow hydraulic fracturing," Younger told a news conference in Halifax."The [Read more]
Halliburton reaches $1B settlement of plaintiff suits from Gulf of Mexico oil spill
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]
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