The Canadian Press | BOE Report

Alaska governor unveils new plan for gas pipeline

January 10, 20144:47 PM The Canadian Press

JUNEAU, Alaska - Gov. Sean Parnell on Friday announced a new way forward on a long-hoped-for natural gas pipeline that includes scrapping the terms of a 2007 law he says no longer works well for the situation.In a major policy speech in Anchorage, Parnell said the state and Canadian pipeline builder TransCanada Corp. have agreed to terminate their involvement under the Alaska Gasline Inducement Act. He made clear, however, that TransCanada would remain a partner in the project, just under new [Read more]

Oil rises as jobs data shows economic weakness

January 10, 20144:12 PM The Canadian Press0 Comments

The price of oil jumped more than $1 a barrel Friday as the U.S. economy added fewer jobs than expected, fuelling speculation that the Federal Reserve will reconsider its plans to slow economic stimulus. Benchmark West Texas Intermediate crude for February delivery gained $1.06 to US$92.72 on the New York Mercantile Exchange. The world's largest economy added just 74,000 thousand jobs in December, the Labor Department said, while analysts had forecast the addition of 196,000 jobs. The [Read more]

Alberta regulator investigates CNRL well leak

January 10, 201411:53 AM The Canadian Press

COLD LAKE, Alta. - The Alberta Energy Regulator is investigating another leak from a Canadian Natural Resources (TSX:CNQ) bitumen well near Cold Lake.The regulator says 27,000 litres of contaminated water were released underground on Jan. 3 at the company's troubled Primrose field.Darin Barter, a spokesman for the regulator, says the leak has been stopped.He says none of the water reached the surface or contaminated underground aquifers.Barter says the leak was caused by a well failure — unlike [Read more]

Prentice: Keystone XL a "distraction"

January 10, 201410:04 AM The Canadian Press0 Comments

CALGARY - Former Conservative cabinet minister Jim Prentice is urging Canada and the United States to look beyond the contentious and high-profile Keystone XL oil pipeline when it comes to their trade relationship.Prentice — who handled the environment and industry files during his time in government — says the two countries have been "preoccupied by a dispute over a single pipeline."Prentice, now a senior executive at CIBC (TSX:CM), says "we must move beyond this distraction" and calls for a [Read more]

Officials hope to tackle train fire in New Brunswick after removing several cars

January 10, 20147:43 AM The Canadian Press

PLASTER ROCK, N.B. - Officials said they hoped to start Friday tackling the fire that continues to burn on several train cars days after they derailed in New Brunswick, sparking a blaze fuelled by liquefied petroleum gas and crude oil on board. CN (TSX:CNR) spokesman Jim Feeny said crews worked through the night and removed about six box and crude cars to allow firefighters to get closer to the site of the blaze in Wapske (Wob-ski), near Plaster Rock in northwestern New Brunswick. "Before [Read more]

Oil falls to 8-month low of US$91.66

January 9, 20143:36 PM The Canadian Press

NEW YORK - The price of oil closed at the lowest level in eight months Thursday as traders worried about bulging supplies of crude and falling demand for gasoline.Meanwhile, natural gas prices fell five per cent on forecasts for warmer than normal weather in the coming weeks.Benchmark West Texass Intermediate crude for February delivery fell 67 cents to close at US$91.66 a barrel on the New York Mercantile Exchange. The price did rise back above $92 in electronic trading after the close, perhaps [Read more]

Feds quietly adopt new rail industry rules

January 9, 20143:22 PM The Canadian Press0 Comments

OTTAWA - Transport Canada quietly approved new safety rules drafted by the railway industry on Boxing Day just as an emergency directive issued in the wake of last summer's Lac-Megantic disaster was set to expire.The federal department also reissued a new emergency directive on Jan. 1, again without public notification, covering those rail companies that are not part of the Railway Association of Canada.Transport Minister Lisa Raitt issued the emergency directive last July to address some of the [Read more]

Canadian Natural to keep Montney shale assets

January 9, 20145:01 AM The Canadian Press

CALGARY - Canadian Natural Resources Ltd. (TSX:CNQ) has decided to keep the Montney shale gas assets that it put on the market early last year. The Calgary-based oil, gas and oilsands producer says it received "a number of expressions of interest" for the assets but none was sufficient to merit a deal at this time. CNQ announced in March it was looking for buyers or partners for the assets, which are in a part of northeastern British Columbia that contains huge reserves of natural gas [Read more]

Latest derailment and fire fans safety concerns posed by oil by rail

January 8, 20144:02 PM The Canadian Press

OTTAWA - Yet another railway fire involving crude oil has prompted the chief executive officer of CN Rail to suggest that long-overdue regulatory changes to the tank cars used to transport dangerous goods will be introduced soon.What is being called a controlled burn had been raging for more than 18 hours in northwestern New Brunswick late Wednesday after 17 cars on a CN train — some carrying propane, others crude oil — derailed and caught fire.It is the fifth significant railway accident in [Read more]

European Union makes carbon emitting more expensive

January 8, 201411:37 AM The Canadian Press

BRUSSELS - It will become more expensive for businesses in the European Union to burn fossil fuels this year after the 28-country bloc decided Wednesday to beef up its carbon trading system. The agreement ended a year of bickering over how to amend what is Europe's prime tool in the fight against climate change and the world's biggest emission trading system. Under the cap-and-trade scheme, companies pay per ton of carbon dioxide they release into the atmosphere, with the pollution [Read more]

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