SAINT JOHN, N.B. - New Brunswick's Irving Oil says it will spend $60 million over the next six weeks as 1,700 extra workers are brought in to perform scheduled maintenance at Canada's largest oil refinery in Saint John. The company says the work will continue 24 hours a day, seven days a week, until the project is completed. Known in the refining industry as a "turnaround," the project is aimed at improving safety, reliability and environmental performance. In total, about 2,000 people [Read more]
Crude oil exists February with gain of 5%; naural gas off 7%
NEW YORK - The price of oil rose slightly Friday, finishing February with a gain of five per cent for the month. Benchmark West Texas Intermediate crude for April delivery rose 19 cents to close at US$102.59 a barrel on the New York Mercantile Exchange. For all of February, oil gained US$5.10 a barrel. U.S. refineries needed crude oil to make heating oil and diesel as frigid and stormy weather boosted demand. Natural gas ended a wild month by gaining 10 cents Friday to US$4.61 per 1,000 [Read more]
Give Obama elbow room on environment, Saskatchewan premier tells Ottawa
OTTAWA - The Harper government needs to bring in long-delayed regulations on the oil and gas industry to burnish Canada's environmental credentials and help win pipeline approvals, says Saskatchewan Premier Brad Wall. Or maybe not. It depends on which response to the same question one takes from the same Wall scrum with reporters. Wall joins a chorus of voices, including some in Canada's oil patch, who have suggested regulatory foot-dragging by the Conservative government has not been [Read more]
Energy markets tame, crude oil and natural gas both down slightly
Energy markets were relatively tame Wednesday, with both oil and natural gas showing small declines. Benchmark west Texas Intermediate crude for April delivery slipped 19 cents to close at US$102.40 a barrel on the New York Mercantile Exchange. Natural gas futures fell three cents to US$4.51 per 1,000 cubic feet as weather forecasts indicate households won't have to raise the thermostats so much in the second half of March. Brent crude, which is used to set prices for international [Read more]
Encana flags anti-fracking push in Colorado as a risk to business
CALGARY - Canadian energy giant Encana Corp. says its operations in Colorado could be hampered by a state ballot initiative that, if successful, would bring oil and gas drilling under local government control. Groups concerned about the impacts of industry activity want to amend the state's constitution to give municipalities the right to limit energy development. "Notwithstanding any other provision of law, local governments in Colorado may place restrictions on the time, place or method [Read more]
EU’s top court rules Spanish $18 billion fuel tax illegal, paves way for compensation claims
BRUSSELS - The European Union's top court has ruled that a fuel tax applied by Spanish regions to help finance health care is illegal, possibly opening the door to compensation claims totalling millions of euros (dollars).The Luxembourg-based Court of Justice said Thursday that the way the gas station tax was set up violated EU laws.The tax brought in some 13 billion euros ($18 billion) between 2002 and 2011. Affected consumers can now reclaim the tax in court.The case was brought by a transport [Read more]
Harper should shoulder part of blame for Keystone delays: Joe Clark
WASHINGTON - Joe Clark is telling a Washington audience that the Harper government deserves some of the blame if the Keystone XL pipeline is stalled. The former prime minister and foreign-affairs minister is in the U.S. for a panel discussion on his new book about foreign policy. The book is deeply critical of the Harper Tories for a "megaphone" approach to foreign policy — marked by loud grandstanding and little constructive engagement with the world. The Harper government made a big [Read more]
State Department IG Keystone XL contractor followed federal rules
WASHINGTON - The State Department's inspector general says a contractor that helped write an environmental review of the proposed Keystone XL oil pipeline complied with federal rules regarding possible conflict of interest.A report issued Wednesday said the contractor, Environmental Resources Management, fully disclosed its previous work with the pipeline operator, Calgary-based TransCanada. None of the work for TransCanada involved Keystone XL.London-based ERM largely wrote the State [Read more]
Oil up as US supplies rise less than expected; natural gas down
The price of oil rose Wednesday as U.S. oil supplies increased less than expected, but natural gas futures fell again on forecasts of warmer weather by the middle of March. Benchmark West Texas Intermediate crude for April delivery rose 76 cents to US$102.59 a barrel on the New York Mercantile Exchange. The U.S. Energy Department said crude oil supplies rose by 68,000 barrels last week, well below the increase of 1.5 million barrels expected by analysts surveyed by Platts. Supplies at the [Read more]
Anti-keystone U.S. senators rant about Alberta oilsands: ‘Health miseries follow tar sands”
WASHINGTON - 'Horror stories' about the Alberta oilsands' impact on human health are being shared in Washington, D.C. A pair of anti-Keystone XL senators invited witnesses Wednesday to provide anecdotes about the effect on people near sites where the oil is extracted, transported and refined. They hope these human-interest stories might influence the Obama administration as it prepares its final decision on the Keystone XL pipeline. One of the speakers at the event was John O'Connor, an [Read more]
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