BOE Report

Enbridge CEO Monaco touts benefits of Line 9 pipeline reversal project

MONTREAL - Enbridge's chief executive touted the benefits of his company's pipeline reversal project Monday on the eve of public hearings on the issue by a Quebec legislative committee. Al Monaco said that he was confident that project will win approval by the National Energy Board and support from the provincial committee. "I would never say it's a done deal. We have to go through the process (but) we're confident that we'll get approval," he told reporters after speaking to the Canadian [Read more]

Iran nuke deal could push oil prices lower

NEW YORK - World oil prices could be headed lower after the preliminary nuclear deal between Western nations and Iran, even though the deal does not loosen sanctions on Iran's oil exports.In the short term, the deal may make it easier for Iran to sell the oil it is already allowed to sell under the sanctions, which would increase supplies on the world market. And the newfound co-operation between Iran and the West eases tensions that pushed oil prices higher in recent years.But the deal, [Read more]

Oil’s economic clout drives pipeline approval

OTTAWA - A new poll suggests a broad cross-section of Canadians see the oil and gas sector as vitally important to the national economy, an attitude that in turn appears to be driving up support for pipeline construction.Almost nine out of 10 respondents to the Harris-Decima poll, 87 per cent, said they believe oil and gas development is economically important, while a clear majority — 53 per cent — ranked the sector as the most important in Canada.The telephone poll of just over 1,000 [Read more]

LNG fuel plants planned in Edmonton, Vancouver

CALGARY - Two companies are teaming up to build liquefied natural gas plants in Edmonton and Vancouver to serve the transportation industry.In announcing their joint venture Tuesday, Ferus Natural Gas Fuels and ENN Canada Corporation said the plants will provide a cheaper and cleaner-burning fuel to the trucking business.The fuel can also be used in the marine, rail, mining and oil and gas exploration industries."The benefits of fuelling with natural gas are significant," said ENN Canada CEO [Read more]

TransCanada learning from Keystone experience, says rejection would be ‘TRAGEDY’

CALGARY - A denial of the proposed Keystone XL pipeline would lead to more oil moving across the continent by rail, an executive with pipeline builder TransCanada Corp. said Tuesday, calling such an outcome a "tragedy." "While we view rail as a complementary short-term solution until more pipeline capacity is brought online, more rail terminals will be built to fill the capacity gap if Keystone XL is not approved," Alex Pourbaix, president of energy and oil pipelines, told an investor [Read more]

New Brunswick judge rejects application for injunction to stop shale gas testing

FREDERICTON - A judge in New Brunswick has dismissed an application from the Elsipogtog First Nation for an injunction to stop seismic testing for shale gas.Judge Judy Clendenning of the Court of Queen's Bench said she found no evidence of a degree of harm to Elsipogtog.In an affidavit, Elsipogtog Chief Aaron Sock said he was told that members of his community and other First Nations will respond if SWN Resources continues its exploration and the RCMP are present.But Richard Williams, [Read more]

Over 130 anti-pipeline, oilsands rallies take place across the country

Environmentalists are organizing rallies across the country to oppose the Alberta oilsands and the pipelines that carry the region's crude oil. The umbrella group Defend Our Climate says more than 130 communities have planned demonstrations on Saturday to send a clear message against oilsands expansion and accompanying pipeline projects. Dozens of protesters gathered in Toronto against the proposed reversal of the Enbridge Line 9 pipeline. Toronto retiree Bruna Nota called the [Read more]

Berkshire Hathaway juggles oil stocks in Q3

OMAHA, Neb. - Warren Buffett's company bought more than 40 million shares of Exxon Mobil and significantly reduced its ConocoPhillips investment during the third quarter.Berkshire Hathaway Inc. filed a quarterly update on its $92 billion U.S. stock portfolio Thursday with regulators. The two oil company investments were the biggest changes revealed.Berkshire reduced its ConocoPhillips holdings to 13.5 million shares at the end of September, down from 24.2 million shares in June.These quarterly [Read more]

New Brunswick energy minister hopes protests don’t discourage shale gas sector

FREDERICTON - New Brunswick's energy minister says he hopes protests against shale gas development don't stop SWN Resources from proceeding with its plans to explore for the resource.Craig Leonard's comments came Thursday after the RCMP blocked Highway 11 in northeastern New Brunswick for a few hours because of a demonstration intended to stop the energy company from conducting seismic testing."We hope protests remain peaceful and lawful and hopefully SWN will be able to get their work done in [Read more]

New Brunswick highway reopens after shale gas protest closure for a few hours

LAKETON, N.B. - A highway in northeastern New Brunswick has reopened after a demonstration against shale gas development forced its closure for a few hours Thursday.Const. Julie Rogers-Marsh says a truck and equipment were damaged by acts of vandalism during the protest on Highway 11 near Laketon, N.B., about 30 kilometres south of Miramichi.She says police rerouted traffic due to safety concerns.Police say while most of the protesters were peaceful, one woman was arrested for mischief, [Read more]