WASHINGTON (AP) — In a move that environmentalists called a betrayal, the Biden administration has approved construction of a deepwater oil export terminal off the Texas coast that would be the largest of its kind in the United States. The Sea Port Oil Terminal being developed off Freeport, Texas, will be able to load two supertankers at once, with an export capacity of 2 million barrels of crude oil per day. The $1.8 billion project by Houston-based Enterprise Products Partners received a [Read more]
Energy producers say they are prepared, ready for 2024 drought, wildfire risks
CALGARY - Canadian energy producers say they are prepared and ready for what could be another spring and summer of drought and wildfires in Western Canada. Last year's hot, dry weather conditions saw oil and gas companies in northwest and central Alberta as well as northeast B.C. temporarily halt production as wildfires raged across key fossil fuel-producing regions. Most of the curtailments were done on a precautionary basis and no significant damage to energy-producing infrastructure [Read more]
Rising oil price doesn’t shake industry talk on spending discipline
TORONTO - The price of oil has been on a steady climb all year, but the talk at Canada's biggest oil and gas conference is still focused on spending discipline. Industry leaders at the Canadian Association of Petroleum Producers conference, held in Toronto this year, have been emphasizing their predictability and focus on returning money to shareholders, rather than talk of growth. Suncor chief executive Rich Kruger says his goal is to make the company "consistently and boringly [Read more]
Syncrude to pay $390,000 penalty for 2021 oilsands worker death
FORT MCMURRAY, Alta. - Oilsands operator Syncrude Canada Ltd. has been ordered to pay a $390,000 penalty in relation to the death of a worker in 2021. Syncrude — which is an oilsands joint venture majority-owned by Suncor Energy Inc. — pleaded guilty on April 4 in a Fort McMurray court to one charge under Alberta's Occupational Health and Safety Act, for failing to ensure the health and safety of a worker. Four other charges under OHS legislation were withdrawn. The charges stemmed from [Read more]
Latest milestones move Cedar LNG closer to getting a green light
CALGARY - RBC Capital Markets says it expects to see a green light from the partners behind the proposed US$3.4-billion Cedar LNG project. RBC analyst Robert Kwan said in a note Friday he expects Pembina Pipeline Corp. and its project partner, the Haisla Nation of B.C., to pull the trigger on the floating liquefied natural gas facility they have proposed to build in Kitimat, B.C. in a positive final investment decision. On Thursday, Pembina announced it has signed a long-term natural gas [Read more]
Trans Mountain pipeline expansion to enter commercial service May 1
CALGARY - After four years and more than $34 billion in costs, the Trans Mountain oil pipeline expansion will go into commercial service on May 1. The Crown corporation behind the massive project provided the start date in an update posted to its website Wednesday. "The commencement date for commercial operation of the expanded system will be May 1, 2024," Trans Mountain Corp. said in the update. "Trans Mountain anticipates providing service for all contracted (oil) volumes in the month [Read more]
Drought poses key risk to Canada’s natural gas producers in 2024: Deloitte
CALGARY - Persistent drought conditions are poised to challenge natural gas producers even as they aim to ramp up in anticipation of Canada's first liquefied natural gas export terminal opening, a new report warns. The report by Deloitte Canada identifies potential water shortages in Western Canada as a key risk facing the oil and gas sector in 2024. Some of the most extreme drought conditions currently are in northeast B.C. and northwest Alberta, a region that is the epicentre of Canada's [Read more]
‘It just needs to stop’: Carbon price protesters slow traffic on Trans-Canada Highway
COCHRANE, Alta. - Horns blared along the Trans-Canada Highway west of Calgary on Monday as a protest against the hike in the federal carbon price slowed traffic to a crawl. Hundreds of protesters, many waving Canadian and Alberta flags and holding "axe the tax" signs, blocked the major highway down to a single lane. RCMP officers were on hand to monitor the event. "I'm here because our country is falling apart and our government has been running us into the ground and it just needs to [Read more]
Emissions cap could hurt Trans Mountain pipeline’s sale price: Calgary Chamber
CALGARY - The Calgary Chamber of Commerce is warning Ottawa that its proposed cap on emissions from the oil and gas sector could compromise the valuation of the Trans Mountain pipeline. Canada's oil industry has been fighting tooth-and-nail against the promised cap, which the federal government has said it expects to finalize later this year. The government has said that under its proposed plan, the oil and gas industry will have to cut emissions by more than one-third by 2030 or buy [Read more]
Parkland puts 157 convenience store and fuel station locations up for sale
CALGARY - Parkland Corp. is looking to sell 157 convenience store and fuel station locations across six provinces. The company says the assets up for sale include locations under the Chevron, Ultramar, Pioneer and FasGas brands as well as the On the Run convenience store banner. The bulk of the stations are in Quebec and Ontario, with the balance in Alberta, British Columbia, Manitoba and Saskatchewan. The company says the retail and fuel locations will be packaged with long-term [Read more]
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