BOE Report

Report urges government work with aboriginals

VANCOUVER - A report commissioned by the federal government in an attempt to resolve an impasse with British Columbia First Nations over energy projects says trust and reconciliation need to be established between aboriginals and governments.The report by Doug Eyford says most First Nations communities in B.C. and Alberta see the value and economic opportunity in energy developments — but they want that development done in an environmentally sustainable way that acknowledges their [Read more]

Oilsands upgrader cost rises; startup delayed

CALGARY - A partnership that plans to build an oilsands refinery northeast of Edmonton says the cost of the project has risen $8.5 billion.North West Redwater Partnership also said in a news release Wednesday that the startup date for its bitumen upgrader has been pushed back to September 2017 from mid-2016.When the project was approved in November 2012, the cost was estimated at $5.7 billion.The partnership, made up of North West Upgrading Inc. and Canadian Natural Upgrading Limited, a wholly [Read more]

Suncor eyeing ‘material presence’ in Norway

CALGARY - Suncor Energy Inc. (TSX:SU) hopes to build a "material presence" in offshore Norway, its senior vice president of exploration and production said Wednesday.But Francois Langlois said Suncor, best known as a dominant oilsands producer, is in no hurry to grow its interests in the international and offshore spheres."It's not urgent that we do this. We're not pressured in being a high-risk explorer that throws a lot of money at exploration," Langlois said on Suncor's investor day [Read more]

Oil above $97 a barrel as US supplies decline

The price of oil rose for a fourth straight day as the government reported the first drop in crude oil supplies in 11 weeks.Benchmark crude oil for January delivery rose $1.16 to $97.20 a barrel on the New York Mercantile Exchange. Oil has gained $4.90 a barrel, or 5.3 per cent, over the past four trading sessions.The Energy Department said Wednesday that crude oil supplies decreased by 5.6 million barrels, or 1.4 per cent, last week, breaking a streak of 10 consecutive weekly increases. The [Read more]

Nova Scotia to ban import of fracking waste

HALIFAX - Nova Scotia won't be accepting waste water from hydraulic fracturing done outside the province under legislation introduced Monday.Environment Minister Randy Delorey said the proposed ban is appropriate given there is a moratorium on fracking in Nova Scotia while an independent review of the process is underway.The review is being led by Cape Breton University president David Wheeler and findings are expected to be released in the spring.Delorey said the legislation shouldn't have to [Read more]

Lubicon First Nation files suit against PennWest

An Alberta First Nation that has been fighting for a reserve for decades has asked for an injunction against a Calgary energy company to stop drilling on lands the group seeks to claim.The lawsuit, filed by the Lubicon First Nation against PennWest Exploration (TSX:PWT), seeks to stop all fracking activity on lands around Haig Lake."We're trying to get an injunction to have them vacate the premises and cease all activities there," said Lubicon lawyer James O'Reilly from Montreal. "That area is [Read more]

Ex Harper appointee in Washington: Canada ‘rogue state’ on environment, urges US to BLOCK Keystone

WASHINGTON - A former Harper government appointee has used a keynote speech at a Washington, D.C., event to trample the Canadian government's message on oil pipelines. Mark Jaccard was one of the first people nominated by the Conservatives to the environmental file, when he was named in 2006 to the now-defunct National Round Table on the Environment and the Economy. The environmental economist now has delivered a lengthy rebuke of Canada's climate-change performance at an event near the [Read more]

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]