BOE Report

U.S. bill could overhaul pipeline reviews

By Lauren Krugel A bill proposed in the U.S. House of Representatives would overhaul how cross-border energy projects such as the Keystone XL pipeline are reviewed.The North American Energy Infrastructure Act is co-sponsored by Michigan Republican Fred Upton and Texas Democrat Gene Green.Under the bill, a project must be approved within 120 days, unless it's found be against the national security interest of the United States.The current review process for projects such as TransCanada Corp.'s [Read more]

Lone Pine announces restructuring deal with noteholders, TSX suspends

CALGARY - Lone Pine Resources Inc. (TSX:LPR) said Wednesday that it has reached an agreement on a restructuring plan with holders of about three quarters of its outstanding senior notes. If successfully implemented, the Calgary-based oil and natural gas developer said the plan would reduce its debt obligations and improve access to capital. "The proposed restructuring transaction is the result of a lengthy evaluation and deliberation by Lone Pine's management and board of directors, [Read more]

Oil discovery offshore Newfoundland could yield up to 600 million barrels

ST. JOHN'S, N.L. - A Norwegian energy firm is estimating that an untapped oil field off Canada's east coast contains between 300 and 600 million barrels of recoverable oil, making it one of the biggest discoveries in recent years."We believe this has the potential to open a new region offshore," Bard Glad Pedersen, director of communications for Statoil, said in a telephone interview Thursday."We will be working with our partners and authorities to enable a positive development for the companies [Read more]

Sunshine Oilsands Ltd. Announces Transaction Outline Letter for Muskwa and Godin Areas

CALGARY, Alberta, Sept. 25, 2013 /CNW/ - Sunshine Oilsands Ltd. ("Sunshine" or the "Corporation") (HKEX: 2012, TSX: SUO) is pleased to confirm that further to its August 19, 2013 announcement, discussions and negotiations have advanced and it has now signed a non-legally binding Transaction Outline Letter with the same international third party to pursue a joint venture involving its Muskwa and Godin area oil sands leases. The Transaction Outline Letter provides for a 50 - 50 joint venture [Read more]

RCMP say oil leak after CN train derails near Saskatchewan town, school closed

LANDIS, Sask. - A hazardous material crew is on the scene of a Canadian National train derailment in western Saskatchewan involving one rail car leaking oil.A spokesman with CN (TSX:CNR) says 17 train cars derailed, some tipping onto their sides, shortly after 4 a.m. just east of the village of Landis, west of Saskatoon.Warren Chandler says the amount of the oil leak is not known but vacuum trucks are being used to clean up the spill.Train derailment near Landis pic.twitter.com/Ryasa7aOUZ— [Read more]

Two Alberta politicians Euro bound to head off anti oilsands resolution

EDMONTON - Alberta Premier Alison Redford is dispatching two senior ministers across the Atlantic on a barnstorming blitz to head off a proposed European Union resolution impacting the oilsands.International Relations Minister Cal Dallas and Environment Minister Diana McQueen will visit European capitals from Sweden to Romania for a week beginning Saturday to talk to government members, influence-makers, and fence-sitters about their concerns over the EU's Fuel Quality Directive."We support [Read more]

Environmentalists to Obama: Nix pipeline regardless of Canada’s climate vows

OTTAWA - American environmentalists are urging the White House not to make any deals with Canada that would green-light TransCanada's Keystone XL pipeline — even if America's neighbour to the north gets tougher on carbon emissions.The letter to U.S. President Barack Obama from a coalition of environmental leaders, as well as liberal organizations, argues that Keystone cannot exist alongside efforts to contain climate change."Our rationale is simple," the letter read. "Building Keystone XL will [Read more]

Federal officials, First Nations meeting to talk pipelines, energy concerns

OTTAWA - Representatives of the federal government are in British Columbia this week to hear from First Nations about their concerns over the proposed Northern Gateway pipeline and other energy projects in Western Canada.The Vancouver meetings were arranged earlier this month to give top bureaucrats from seven federal departments an opportunity to hear aboriginals' views on energy and infrastructure projects.Chief Andy Phillips of the Scowlitz First Nation said the main topic of conversation at [Read more]

Alberta issues environmental protection order for Primrose oilsands project

COLD LAKE, Alta. - The Primrose oilsands project in northern Alberta has been issued an environmental protection order.The Alberta government says Canadian Natural Resources Ltd. (TSX:CNQ) must remove most of the water from one of its bitumen leak sites before it freezes.The government says in a release that removing the water from the affected waterbody will help permanent containment measures be put in place over the winter.The water can be restored next spring.In July, the Calgary-based [Read more]

Harper, Japanese PM Shinzo Abe talk shale gas in Ottawa

OTTAWA - Japan's visiting prime minister is keen to talk to Prime Minister Stephen Harper about exporting Canadian shale gas to his energy-hungry country.Shinzo Abe is in Ottawa for a brief visit before heading to the United Nations General Assembly this week.Harper will also be in New York, but unlike Abe he won't be addressing the assembly — a decision seen by some analysts as part of an ongoing snub of the UN.Harper welcomed Abe to his Parliament Hill office, where Japanese officials say [Read more]