HALIFAX - BP Canada is aiming to have an exploration well in deep waters off the coast of Nova Scotia by 2017 if offshore seismic work goes well, the company's president said Tuesday.Stephen Willis spoke after touring a seismic vessel in Halifax that is preparing to steam to the company's holdings about 300 kilometres southeast of the city on the Scotian shelf.The effort is part of a $1-billion exploration commitment BP has made in the province as the firm searches for hydrocarbons in its [Read more]
Sweetheart offers to Nebraska landowners now expired, says TransCanada
WASHINGTON - The company behind the Keystone XL pipeline has a message for Nebraska landowners resisting the project: the sweet financial offers are going, going, gone. TransCanada Corp. says today is the deadline for holdout landowners to sign easement deals allowing the pipeline onto their property — and any deals they make in the future will be less generous. That announcement comes as the pipeline battle enters a new phase. Until now, offers to landowners have been skyrocketing, but [Read more]
Encana CEO says Deep Panuke “rocked” in Q1, not shopping platform around
CALGARY - Encana Corp. says it's not actively shopping around its Deep Panuke natural gas project in Nova Scotia — an asset CEO Doug Suttles said "rocked" during the first quarter.After repeated delays, the platform finally started producing gas in December — just in time for unusually frigid temperatures to drive up demand in the northeastern United States for the home-heating fuel.However, the offshore platform, 250 kilometres southeast of Halifax, is not among the half dozen core areas where [Read more]
Canada changing tanker regulations, stops short of unlimited polluter liability
SAINT JOHN, N.B. - The federal government says it is aiming to make polluters pay as it makes changes to legislation and regulations on oil tanker safety.But under proposed changes announced today by Transport Minister Lisa Raitt in Saint John, N.B., Ottawa stops short of following a recommendation from an expert panel to remove the current $161-million liability limit for a spill in favour of unlimited liability for polluters.The report on tanker safety done last year by a three-member panel of [Read more]
Big energy-savings bill headed for defeat, dragged down by dispute over Keystone XL pipeline
WASHINGTON - A widely popular, bipartisan energy savings bill is falling victim to election-year politics and the Obama administration's continued indecision on the Keystone XL oil pipeline. The legislation would tighten efficiency guidelines for new federal buildings and provide tax incentives to make homes and commercial buildings more efficient. It easily cleared a procedural hurdle last week but is stalling now after Republican demand for votes on the Canada-to-Texas pipeline and on new [Read more]
B.C. questions Kinder Morgan on Trans Mountain spill prevention, response regime
VANCOUVER - The province of British Columbia has questions for Kinder Morgan about the proposed expansion of its Trans Mountain pipeline. After a careful review of the company's application to the National Energy Board, the province has submitted 70 requests for more information. Environment Minister Mary Polak says the province wants to know more about the company's oil spill prevention, response and recovery plans. The $5-billion expansion would almost triple the capacity of the [Read more]
Nova Scotia to spend $12M over four years on offshore oil and gas data: source
HALIFAX - A source says the Nova Scotia government will announce it will spend $12 million over four years to fund scientific data on potential oil and natural gas opportunities in its offshore.The source says Premier Stephen McNeil will reveal on Tuesday details of the funding for geological research that is aimed at helping convince energy companies there are undiscovered pockets of hydrocarbons off Nova Scotia's shores.The source spoke on condition of anonymity.The province's Energy [Read more]
Chemtrade Logistics to sell Montreal East business to Suncor Energy for $120M
TORONTO - Chemtrade Logistics Income Fund (TSX: CHE.UN) says it has an agreement to sell its refinery services business in Montreal to Suncor Energy Products Inc. for roughly $120 million. The Toronto-based income fund says it will use the net proceeds of the sale to reduce debt.Chemtrade says its Montreal business provides sulphur removal and other services only to Suncor's Montreal refinery.It acquired the operation in 2011 as part of its acquisition of Marsulex, and will realize a gain of [Read more]
Oil rises above $100 as referendum adds to tensions over Ukraine
Oil rose above US$100 per barrel on Monday amid renewed tensions over Ukraine. Benchmark U.S. crude for June delivery was up 13 cents to $100.12 a barrel at 2:50 a.m. ET in electronic trading on the New York Mercantile Exchange. The contract fell 27 cents to close Friday at $99.99. Brent crude, a benchmark for international varieties, added 37 cents to $108.26 in London. In the previous session, the contract shed 15 cents to $107.89. Traders are worried about turmoil in Ukraine and [Read more]
Canadian Natural bumping oilsands expansion spending, taking advantage of lull
CALGARY - Canadian Natural Resources Ltd. (TSX:CNQ) is directing another $400 million this year toward expansion of its Horizon oilsands mine, a sum it only planned to spend if market conditions were right. The Calgary-based company's 2014 plans call for $2.5 billion in spending at the project, north of Fort McMurray, Alta., with the option to raise that to $2.9 billion if costs of labour and materials look good, president Steve Laut told analysts on a conference call Friday. "At this [Read more]
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