BOE Report

Bonterra Energy increases dividend

CALGARY - Bonterra Energy Corp. (TSX:BNE) says its next monthly dividend payment will be 29 cents per share, up one cent from the prior payout to shareholders. The Calgary-based company's dividend is subject to commodity prices and production levels. The next payout will be paid Dec. 31 to shareholder of record as of Dec. 16. Click here to read the Bonterra Energy's release... [Read more]

Fix First Nations relations, biz forum hears

LAKE LOUISE, Alta. - Governments and industry must fix their relationships with First Nations communities if large-scale energy projects are to move forward in Canada, speakers at a business forum in Lake Louise, Alta., said Friday.The warnings, from both First Nations and industry leaders, came as regulators are expected to rule within weeks on a the contentious Northern Gateway pipeline proposal by Enbridge Inc. (TSX:ENB)Miles Richardson, former president of the Haida Nation in northwestern [Read more]

TransCanada chief lambastes pipeline foes

LAKE LOUISE, Alta. - The CEO of pipeline giant TransCanada Corp. (TSX:TRP) says environmental groups have cast the Keystone XL pipeline debate as a referendum on U.S. President Barack Obama's green credentials.Russ Girling says in his view, framing the argument that way is unfair.He says environmental activists have also "concocted a story" that the oilsands are the largest carbon bomb on Earth and that the $5.4-billion pipeline would amount to a fuse.Girling joked that he's even had to assure [Read more]

NB Premier tells Alberta Energy East means big jobs

EDMONTON - New Brunswick Premier David Alward has told Alberta's legislature the proposed Energy East pipeline to his province is not just about resources, it's also about creating thousands of jobs across Canada. Alward urged premiers to work as one and push forward on the pipeline, which he once again compared to the national railway as a country-building project. Both Alward and Alberta Premier Alison Redford are backing TransCanada's $12-billion pipeline as critical to boosting the [Read more]

Oil slides toward 6-month low near $92 a barrel

The price of oil was heading down toward $92 a barrel on Thursday, near six-month lows, after U.S. crude stockpiles rose for a tenth consecutive week.By early afternoon in Europe, benchmark U.S. crude for January delivery was down 16 cents at $92.14 a barrel in electronic trading on the New York Mercantile Exchange, having dropped $1.38 on Wednesday. Floor trading on the Nymex was closed Thursday for the Thanksgiving holiday, resulting in low trading volumes.Oil has declined from about $110 in [Read more]

First Nations relations a hurdle to $650B in oil and gas development for West

VANCOUVER - There are more than 600 major resource projects worth $650 billion planned in Western Canada over the next decade but relations with First Nations may be a major hurdle for those developments, says a new report by the Fraser Institute.Every one of those projects will affect at least one First Nations Community, said the report released Thursday by the right-leaning think tank based in Vancouver."There is not a single oil or gas project under proposal in Western Canada that does not [Read more]

Oil at 6-month low as U.S. spplies rise

BANGKOK - Oil consolidated at a six-month low Thursday after U.S. crude stockpiles rose for a tenth straight week.Benchmark U.S. crude for January delivery was down 10 cents at US$92.20 a barrel at early afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.38 to close Wednesday at $92.30.Oil has declined from about $110 in September due to a muted outlook for demand, high supplies and reduced tensions in the oil-rich Middle East.The Energy [Read more]

Bonterra faces possible tax bill of $25M

CALGARY - Bonterra Energy Corp. (TSX:BNE) is facing a possible tax reassessment that could result in the oil and gas producer owing as much as $25 million.Bonterra said Wednesday that it has been notified by the Canada Revenue Agency of the possible reassessment of taxation years since Nov. 18, 2008, when the company converted from an income trust to a corporation."If such reassessments are issued and maintained on appeal, Bonterra will owe total cash taxes of approximately $25 million for the [Read more]

MARKETING MACHINES! Feds spend $40M pitching natural resources

OTTAWA - The Conservative government is spending $40 million this year to advertise Canada's natural resource sector — principally oil and gas — at home and abroad.Natural Resources Minister Joe Oliver revealed the figure Wednesday as his department seeks another $12.9 million to augment an international campaign designed to portray Canada as a stable and environmentally responsible source of energy.That will bring NRCan's 2013-14 ad budget to about $40 million — $24 million for advertising [Read more]

U.S. ambassador, TransCanada president say ‘no thanks’ to Keystone XL opponents

WASHINGTON - Key Canadian representatives have turned down invitations to address a Washington summit organized by an environmental group leading the fight against the Keystone pipeline. U.S. ambassador Gary Doer and Russ Girling, president of TransCanada Corp., were issued written invites a few days before the planned event, called "Can Keystone Pass the President's Climate Test?" The Dec. 2 gathering at Georgetown University will include research on whether the proposed pipeline would [Read more]