CALGARY - Enbridge Inc. says it has completed a deal that will see the Calgary-based pipeline giant become operator of the Gray Oak oil pipeline in Texas. Enbridge says its joint venture merger deal with Houston-based energy company Phillips 66 will result in a single joint venture holding both companies' indirect ownership interests in Gray Oak, as well as DCP Midstream LP, a Denver-based natural gas company. Under the terms of the deal, Enbridge will increase its indirect economic [Read more]
Releasing oilsands tailings into river only one solution being considered: Guilbeault
Canada's environment minister says releasing treated oilsands tailings into the environment isn't the only solution being considered to clean up the massive ponds. Steven Guilbeault says that even though his government is developing regulations on how the tailings could be drained into the Athabasca River, other solutions are also under review. Guilbeault's comments come as investigators from UNESCO arrive in Alberta to consider threats to Wood Buffalo National Park, which could be placed [Read more]
Suncor’s Colorado refinery back to normal operations after Monday outage
CALGARY - Suncor Energy Inc. says its Commerce City refinery in Colorado is back up and running after an equipment malfunction earlier Monday. Suncor spokeswoman Mita Adesanya said the malfunction caused the safety system within one of the units at the refinery to activate. She said the system worked as designed, shutting down the equipment to prevent any further disruption to operations. Suncor sent out an alert Monday morning warning residents in the area that the temporary shutdown [Read more]
Imperial Oil still investigating cause of produced water spill in N.W.T.
YELLOWKNIFE - Imperial Oil Ltd. says it is still investigating the cause and impact of a pipeline spill in the Northwest Territories that has some residents downstream concerned about the potential impact. The Calgary-based oil and gas company reported on July 27 that it discovered about 55,000 litres of produced water had spilled before it shut down the pipeline in Norman Wells, N.W.T. Produced water is treated water that is pumped back to the surface during oil recovery and reused in [Read more]
Environmental groups protest proposals to build LNG terminals on Canada’s East Coast
HALIFAX - A coalition of environmental groups is calling on Ottawa to reject any proposal to build export facilities for liquefied natural gas on Canada's East Coast. The coalition, which includes the Sierra Club Canada Foundation and Climate Action Network Canada, issued a statement today suggesting Canadians are opposed to such projects because of their "climate-wrecking emissions" and potential financial risks. Calgary-based Pieridae Energy has been promoting the construction of a [Read more]
Canadian Natural reports $3.5B profit in second quarter amid oil price spike
CALGARY - Canadian Natural Resources Ltd. reported a second-quarter profit that was more than double what it made in the same period last year. The company said it earned $3.5 billion or $3 per diluted share for the quarter ended June 30, up from $1.6 billion or $1.30 per diluted share in the same quarter last year. Crude prices spiked during the quarter, driven largely by Russia's invasion of Ukraine, with North American benchmark WTI up 15 per cent from the first quarter and up 64 per [Read more]
Imperial Oil investigating 55,000-litre spill of produced water in N.W.T.
NORMAN WELLS, N.W.T. - Imperial Oil Ltd. says it is investigating a spill from a produced water line at its facility in Norman Wells, N.W.T. The petroleum refining company says about 55,000 litres of produced water was released on Wednesday. The byproduct is produced during the extraction of oil and gas, is high in saline and can be contaminated with other substances. The company says it is investigating whether the produced water entered the Mackenzie River. It says water quality [Read more]
Enbridge net profit falls as revenues surge in second quarter to $13.22 billion
CALGARY - Enbridge Inc. says its earnings attributable to common shareholders dropped in its most recent quarter despite higher revenue. The Calgary-based energy company says it earned $450 million or 22 cents per share in its second quarter, compared with $1.39 billion or 69 cents per share a year earlier. Adjusted profits were $1.35 billion or 67 cents per share, compared with $1.36 billion or 67 cents per share in the same period of 2021. Revenue in the three months ended June 30 was [Read more]
Key gas pipeline from Russia to Europe restarts after break
BERLIN (AP) — Natural gas started flowing through a major pipeline from Russia to Europe on Thursday after a 10-day shutdown for maintenance — but the gas flow remained well short of full capacity and the outlook was uncertain, which leaves Europe still facing the prospect of a hard winter. The Nord Stream 1 pipeline under the Baltic Sea to Germany had been closed since July 11 for annual maintenance work. Amid growing tensions over Russia's war in Ukraine, German officials had feared that [Read more]
Canada’s turbine decision could weaken united sanctions front against Russia, says Hillier
WASHINGTON - Retired general Rick Hillier says he fears Canada's decision to return Nord Stream 1 pipeline turbines to Germany will weaken global sanctions against Russia for its invasion of Ukraine. Hillier, who heads a new advisory council of retired military commanders formed by the Ukrainian World Congress, worries the decision could prove to be the first break in that united economic front. Retired U.S. generals David Petraeus and Welsey Clark, however, are less critical, calling the [Read more]
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