BOE Report

AltaGas to acquire 25 per cent Petrogas stake

CALGARY (Canadian Press) - AltaGas Ltd. is buying a 25 per cent stake in privately held Petrogas Energy Corp. in a deal it says will help it move natural gas liquids and crude oil to North American markets.Petrogas has more than 1,500 rail cars and 24 rail and truck terminals. It also has major terminal and storage facilities with rail access at key energy hubs in Alberta, Ontario and the United States. "Our investment in Petrogas provides strategic alignment with a major North American [Read more]

TransCanada reaches revised deal with Enbridge, Gaz Metro and Union Gas

TORONTO (Canadian Press) - Several Canadian pipeline companies have struck a deal that they say has resolved a dispute over how key infrastructure is shared in the Greater Toronto Area.A joint announcement says that TransCanada (TSX:TRP) has reached a revised agreement with Enbridge (TSX:ENBZ), Gaz Metro and Union Gas, which operate major gas distribution systems in Ontario and Quebec.The agreement includes a revised framework for tolls on TransCanada's mainline and the proposed Kings North [Read more]

Alberta’s auditor general will probe oil pipeline safety, rule enforcement

EDMONTON (Canadian Press) - Alberta's auditor general is going to take a deeper look at the safety of oil and natural gas pipelines in the province.Merwan Saher said his audit will examine pipeline inspections and will look at how well companies are following government pipeline regulations and how well provincial regulations are being enforced."I wish to inform you that we will initiate such an audit as soon as reasonably possible," Saher wrote in letters to Alberta's opposition Wildrose and [Read more]

Visit to environmentally friendly oilsands not on Neil Young’s agenda: filmmaker

CALGARY (Canadian Press) - A filmmaker says Neil Young's trip to Alberta's oilsands seemed more about showcasing the Canadian singer's eco-friendly car for a documentary than about learning about the industry. Tim Moen has lived in Fort McMurray for 13 years and was contacted by Young's production company, Shakey Pictures, to shoot aerial footage. Moen said he spent a couple of hours in a helicopter last week mainly shooting Young's hybrid 1959 Lincoln Continental driving on the highway [Read more]

New Encana CEO says company will be leaner, less dry gas focused

CALGARY (Canadian Press) - The new CEO of Encana Corp. said Thursday that the energy giant's portfolio is far too big and has far too much weakly-priced natural gas in it, suggesting more asset sales are on the way.Doug Suttles, sharing his initial impressions of Encana's strengths and weaknesses at an investor conference in New York, also said his company's organizational structure needs an update.One of Suttles' first moves when he became CEO of the beleaguered company in June was to take a [Read more]

Anti Keystone XL crusader stars in new TV ads aimed at stopping the pipeline

OTTAWA (Canadian Press) - The crude oil that exploded into flame in the deadly Lac-Megantic train derailment in July was as volatile as gasoline, but was documented as a less-dangerous product akin to diesel or bunker crude, the Transportation Safety Board says.Lead investigator Don Ross said tests showed the oil was initially graded properly for road transport but was inexplicably downgraded when it came time to move it by rail."When we analysed the product samples from the nine intact tank [Read more]

Fort McMurray rock listeners tune out Neil Young after singer blasts oilsands

FORT MCMURRAY, Alta. (Canadian Press) - Neil Young can keep on talking in the free world, but Fort McMurray won't be listening.A local rock radio station stopped playing the Canuck singer's music for a day after he compared the oilsands city to Hiroshima after the atomic bomb.Chris Byrne at Rock 97.9 asked his listeners if the ban should be extended indefinitely.Neil supporters were in the majority, but when station staff looked at their email addresses, most came from out of town.So with local [Read more]

Cenovus Energy to give military veterans priority when hiring

CALGARY (Canadian Press) - One of Canada's energy giants will make military veterans a priority when hiring new employees.Federal Veterans Affairs Minister Julian Fantino took part in an announcement Wednesday that Cenovus Energy Inc. has joined a program which was announced last fall as part of a government veterans transition plan."Cenovus Energy is giving veterans new and interesting opportunities to make a successful transition from military to civilian life," said Fantino."The type of [Read more]

Offshore oil sparks economic boom in St. John’s

ST. JOHN'S, N.L. (Canadian Press) - Offshore oil and major construction projects have sparked an economic boom in St. John's and other parts of Newfoundland and Labrador that has never been seen here before.Housing prices have soared, wages are up, unemployment is down and restaurants and bars are among the country's busiest. Once considered a fiscal basket case, the province leads economic growth forecasts this year as investors flock to the Rock."It has a lot to do with the oil boom, which is [Read more]

Enbridge CEO touts benefits of line 9 reversal

  MONTREAL - The CEO Enbridge says the proposed reversal of the company's pipeline to bring crude oil to Eastern Canada will help Quebec's economy and the competitiveness of its two refineries.Al Monaco told the Montreal Board of Trade that the reversal of Line 9 will sustain refining capacity and the more than 4,000 jobs that depend on it while also helping ensure the vitality of Montreal's industrial ecosystem.The National Energy Board will conduct hearings on the proposal in October, [Read more]