VANCOUVER - The province of British Columbia has filed an application to take part in the public hearings into Kinder Morgan's proposed expansion of its Trans Mountain oil pipeline. Under an agreement signed with the federal government, the province will not conduct its own review of the project but let the federal decision stand for B.C.'s assessment as well. As an intervener, the province is on the same footing as First Nations, environmental and business groups that, under new federal [Read more]
Statoil to drill off Newfoundland in summer
ST. JOHN'S, N.L. - Norwegian energy firm Statoil says it will begin exploration drilling off Newfoundland later this year. The company says the drilling will take place some time likely between July and September. Statoil announced last fall that it had discovered a reservoir of light crude believed to hold between 300 million and 600 million barrels of recoverable oil while drilling in an area known as the Bay du Nord prospect, about 500 kilometres northeast of St. John's. It was the [Read more]
NDP wants urban drilling banned in Alberta
LETHBRIDGE, Alta. - The Alberta New Democrats are calling on the provincial government to ban all drilling in urban areas. NDP Leader Brian Mason spoke with Lethbridge media Thursday just two kilometres from where GoldenKey Oil wants to drill three exploratory wells. Mason said the Tory government is dragging its feet when it comes to addressing the issue. He also wants the Conservatives to undertake an independent, scientific review of fracking, its impact on water quality, air quality [Read more]
Keystone XL as price for a U.S. debt extension? Republicans appear to back away
WASHINGTON - U.S. Republicans have apparently considered — and rejected — the idea of using a high-stakes fiscal showdown to force the construction of the Keystone XL pipeline. There had been reports that Republicans in Congress contemplated demanding approval for the pipeline in exchange for their votes to raise the U.S. debt ceiling in the coming weeks — but that they couldn't agree on it, or any other, debt strategy. The top Republican in the House of Representatives didn't deny those [Read more]
Six MEG oil trains loaded in January as company skirts jammed pipelines
CALGARY - Unit trains full of MEG Energy Corp's crude have begun departing from a new rail loading facility northeast of Edmonton, as the oilsands producer looks for ways around jammed pipelines to the best-paying markets. Late last year, MEG hooked up crude from its oilsands operations in northeastern Alberta to an oil-by-rail terminal operated by Canexus Corp. (TSX:CUS), making it the first direct connection of its kind in Canada. The first unit train — 60,000 barrels of crude across [Read more]
Oil, natural gas extend gains on US winter storm, AECO gas spikes, briefly trades over $38/GJ
SEOUL, Korea, Republic Of - The prices of oil and natural gas extended gains Thursday in Asia as a winter storm that slammed the U.S. and slower-than-expected supply growth raised expectations for higher energy demand. Benchmark U.S. crude for March delivery was up 23 cents to $97.61 a barrel at 0745 GMT in electronic trading on the New York Mercantile Exchange. The contract added 19 cents to close at $97.38 on Wednesday. More than a million homes and businesses were left in darkness and [Read more]
Local firms should register for slice of proposed west-east pipeline: executive
HALIFAX - The president of the Energy East Pipeline encouraged a business audience Wednesday to start registering for possible work on the proposed cross-country project. Steve Pohlod said in a speech at the Maritimes Energy Association in Halifax that the subsidiary of TransCanada (TSX:TRP) will need everything from security personnel for work camps to geotechnical experts and mechanical engineers if the 4,500-kilometre project is approved. The executive invited firms to start registering [Read more]
Oil gains; natural gas soars, then falls back
NEW YORK - The price of oil advanced slightly Wednesday as a report showed U.S. supplies rose less than expected last week. Natural gas rocketed to a new four-year high before plunging back near US$5 per 1,000 cubic feet on a continuation of recent volatility in that market. Benchmark West Texas Intermediate crude oil for March delivery rose 19 cents to US$97.38 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oil used by many U.S. refineries, gained [Read more]
New Brunswick energy customers told to brace for high natural gas prices
SAINT JOHN, N.B. - The New Brunswick Energy and Utilities Board is warning natural gas customers to prepare for high prices this month and possibly next. The board says natural gas prices reached record levels last month because of high prices in the New England market. It says the high prices are the result of demand in New England, where pipeline capacity is limiting the supply, driving up costs throughout the region. While there are plans to expand pipeline capacity to New England, [Read more]
Alberta NDP leader calls increase in fracking ‘OUT OF CONTROL’
EDMONTON - Alberta New Democrats say newly released documents show fracking has become an unregulated free-for-all in the province with no regard for the impact on groundwater or on people's health. NDP Leader Brian Mason presented information Tuesday provided under freedom-of-information laws that shows the number of hydraulic fracturing licences granted by the province soared 647 per cent last year to 1,516. Mason said the amount of water allocated and used for fracking has increased [Read more]
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