CALGARY - The CEO of Suncor Energy says a technology-sharing alliance of oilsands players is very close to setting greenhouse gas reduction goals for its members.Steve Williams says the Canadian Oil Sands Innovation Alliance, or COSIA is within "days or weeks" away from firming up the standards.He says as a first step, it's likely COSIA members will strive to be at least as efficient as other oil sources.Earlier, Suncor and GE announced up to $18 million in investment for projects that are meant [Read more]
Port Alberni, B.C., site of proposed First Nations, LNG export plant
VICTORIA - A Vancouver-based company and a Port Alberni-area First Nation have signed a agreement to build a liquefied natural gas export facility on Vancouver Island. Steelhead LNG Corp., and the Huu-ay aht (who-AYE'-at) have announced plans to develop an LNG plant on land owned by the First Nation on the southern end of Alberni Inlet near Port Alberni. Steelhead LNG Corp., says in a statement the project could represent an investment of about $30 billion. Steelhead says it is working [Read more]
Libya expects to increase oil exports; crude slips below US$104 a barrel
The price of oil slipped below US$104 a barrel Monday on expectations that Libya will soon boost its exports of crude.Benchmark West Texas Intermediate crude for August delivery fell 53 cents to close at US$103.53 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 40 cents to close at US$110.24 in London.An agreement in Libya between the central government and a regional militia is expected to lead to the reopening of [Read more]
Alimentation Couche-Tard earns US$145.1 million in fourth quarter
LAVAL, Que. - Alimentation Couche-Tard (TSX:ATD.B) earned US$145.1 million or 25 cents per diluted share during its fourth quarter, down from $146.4 million or 26 cents per dilute share a year ago. Revenue totalled $8.95 billion, up from $8.78 billion. Adjusted for one-time items, the Quebec-based convenience store operator earned 22 cents per diluted share, up from 20 cents a year ago, but three cents below analyst expectations. [Read more]
Oil slips below $104 as Libya set to boost exports
The price of oil slipped below $104 a barrel Monday as expectations that Libya will soon boost its exports of crude offset strong U.S. job growth. By early afternoon in Europe, benchmark U.S. crude for August delivery was down 19 cents to $103.87 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, was down 37 cents at $110.63 on the ICE Futures exchange in London. Crude fell despite signs the U.S. economy is steadily [Read more]
A year later, Lac-Megantic mayor urges town to turn page on ‘horror’ of disaster
LAC-MEGANTIC, Que. - More than 1,000 people marched in solemn silence early this morning along the edge of Lac-Megantic's railroad as they remembered last year's deadly train disaster. They began the walk after observing a moment of silence at 1:15 a.m. — the exact moment on this day last year when a runaway train derailed in the centre of the Quebec town and exploded in a series of cataclysmic fireballs killing 47 people. Though a year has passed, the emotional scars in the community [Read more]
Scars remain as Lac-Megantic holds services and vigil a year after disaster hit
LAC-MEGANTIC, Que. - The scars from last year's devastating train derailment still run deep in Lac-Megantic. But this weekend townsfolk will square their shoulders once again to pay homage to 47 of their friends and relatives who perished when a runaway train turned their downtown core into an inferno. Church services, concerts, social events and vigils will mark two days of commemorations, which will be highlighted Sunday by a Roman Catholic mass at the church whose statue of Jesus became [Read more]
Crude oil slips for seventh straight session as supplies set to increase
The price of crude oil slipped below $104 a barrel Friday, extending its drop to seven straight days, as expectations of increased supply offset strong U.S. employment growth.Benchmark West Texas Intermediate crude moved 29 cents lower to US$103.77 a barrel in electronic trading on the New York Mercantile Exchange.U.S. markets were closed Friday for the Independence Day holiday and trading volumes in other markets were thinner than usual.Crude fell despite signs the U.S. economy is steadily [Read more]
Trudeau says Liberal message is getting through in Alberta
CALGARY - Liberal leader Justin Trudeau says his party's message is getting through in the traditional Conservative stronghold of Alberta.He says Albertans are becoming more enthusiastic about the party even though the Liberals failed to snag an Alberta seat in recent federal byelections,Trudeau says the Liberals had a strong showing in the Fort McMurray-Athabasca riding in the heart of oilsands country.He says the Harper Conservatives have fallen down on the proposed Keystone XL pipeline.And he [Read more]
Polish shipyard wins bid to build three B.C. ferries for $165 million
VICTORIA - BC Ferries says a Polish shipyard has won the contract to build three new intermediate-class ferries capable of operating with liquefied natural gas or diesel. It says Remontowa Shipbuilding of Poland will receive $165 million to build the ships, with a contract that includes completion, performance and delivery guarantees. BC Ferries says the total budget for the project is $252 million, which includes financing and project management costs, and covers $51 million for Canadian [Read more]
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