WASHINGTON - Calgary-based Enbridge Inc. scored a key victory in the Line 5 dispute Tuesday as a judge in Michigan rejected the state attorney general's bid to get the dispute over the cross-border pipeline kicked out of federal court. U.S. Circuit Court Judge Janet Neff issued the long-awaited written ruling late Tuesday, agreeing with Enbridge that its dispute with Michigan Gov. Gretchen Whitmer's administration involves "substantial federal issues." The decision resolves one of the [Read more]
B.C. public safety minister condemns blockade at Coastal GasLink pipeline site
VICTORIA - British Columbia's public safety minister has condemned a blockade set up along a forestry road used by construction workers for the Coastal GasLink natural gas pipeline. Mike Farnworth says in a statement the province is calling for the de-escalation of the "confrontation" and the peaceful removal of the blockade set up Sunday by members of the Gidimt'en clan, one of five in the broader Wet'suwet'en Nation. Farnworth says the blockade puts emergency access at risk for more than [Read more]
Ottawa must consult provinces on emissions cap for oil, gas industry: Alberta premier
OTTAWA - Alberta Premier Jason Kenney says the federal government must consult with the provinces as Ottawa moves on plans to implement a cap on emissions from the oil and gas sector. Kenney's warning came during a rare appearance with Prime Minister Justin Trudeau today, as Alberta became the latest province to agree to participate in a national child-care program. The two leaders sought to downplay their long-standing differences during a news conference in Edmonton announcing the [Read more]
Energy summit in UAE after COP26 stresses fossil fuel demand
ABU DHABI, United Arab Emirates (AP) — Energy ministers from across the developing world gathered in the emirate of Abu Dhabi on Monday and stressed the need for continued investment in fossil fuel production — a message just days after these same nations joined around 200 countries in accepting a compromise deal aimed at limiting rising global temperatures and curbing greenhouse emissions. Energy ministers from two key OPEC nations — the United Arab Emirates and Saudi Arabia — pointed to the [Read more]
Oilpatch drilling activity to rise in 2022, new PSAC forecast suggests
CALGARY - Drilling activity in the Canadian oilpatch will return to pre-pandemic levels in 2022, according to a new industry forecast. The Petroleum Services Association of Canada (PSAC) says it expects a total of 5,400 wells to be drilled in Canada next year, an increase of 16 per cent year-over-year and the most activity since 2019. PSAC also revised its 2021 forecast to 4,650 wells, in light of increased activity in the last half of the year. At the start of 2021, PSAC was predicting [Read more]
Vermilion plans to reinstate dividend in early 2022 despite $147.1 million Q3 loss
CALGARY - Vermilion Energy Inc. says it plans to reinstate its dividend in the first quarter of 2022 even though its net loss more than doubled in its latest quarter despite a big increase in revenues. The oil and gas producer says the payout, subject to final board approval, will be five to 10 per cent of fund flows from operations. The Calgary-based company says it lost $147.1 million or 91 cents per share in the third quarter, compared with a loss of $69.9 million or 44 cents per share [Read more]
MEG Energy CEO doesn’t expect Line 5 dispute to hurt ability to move heavy oil
CALGARY - The chief executive of MEG Energy said Tuesday he doesn't expect the ongoing dispute between Canada and the U.S. over the Line 5 cross-border pipeline to hurt his company's ability to move heavy oil to the U.S. Gulf Coast. On a conference call with analysts, Derek Evans — the head of the Calgary-based energy company — said that now that Enbridge Inc.'s Line 3 replacement project is operational, MEG is less concerned about the outcome of bilateral talks over Line 5. "Line 5 does [Read more]
Planning for Canada-U.S. treaty talks on Line 5 ‘well underway,’ Canada says
WASHINGTON - Court documents filed by the federal government say planning is well underway for bilateral talks in the dispute over the Line 5 cross-border pipeline. A proposed motion filed last week in U.S. District Court in Michigan says the first formal negotiating session between the two countries will happen "shortly." Canada decided last month to invoke a 1977 pipelines treaty between the two countries after talks broke down between the state of Michigan and the pipeline's operator, [Read more]
Alberta isn’t alone in facing climate challenge, says province’s COP26 representative
Alberta's top representative to the global climate conference taking place in Scotland says the province is not alone in facing the challenges of reducing its greenhouse gas emissions. Steve MacDonald, who heads a provincial agency that funds carbon-reducing technology, is one of Alberta's two official representatives at the global conference. He says that while Albertans can often feel singled out by measures to fight climate change, the COP26 conference has shown him that countries [Read more]
MEG Energy again increases annual production guidance after third-quarter results
CALGARY - MEG Energy Corp. boosted its output forecast for the year after swinging to a $54-million profit in its latest quarter on a doubling of revenues. The Calgary-based company said it earned 17 cents per diluted share in the third quarter, compared with a loss of three cents per share or $9 million a year earlier. Revenues for the three months ended Sept. 30 were $1.09 billion, up from $533 million in the third quarter of 2020. MEG was expected to earn 29 cents per share on $1 [Read more]
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