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]
Feds propose to cap oil, gas emissions using industry-specific carbon pricing system
OTTAWA - The federal government is proposing to use an industry-specific cap-and-trade system or a modified carbon pricing system to set a ceiling for emissions from the oil and gas sector and drive them down almost 40 per cent by the end of this decade. The two options are contained in a discussion paper Environment Minister Steven Guilbeault will publish Monday. It is the first glimpse Canadians are getting of how the Liberals expect to implement the oil and gas emissions cap promised in [Read more]
Canada’s oilsands look into use of nuclear power as ‘net zero changes everything’
CALGARY - The pressing global need to slash emissions in the face of a growing climate crisis is driving renewed interest in nuclear power — and few places more sothan in Canada's oilsands. While the idea of using nuclear power to replace the fossil fuels burned in oilsands production has been bandied about for years, some experts say the reality could be just a decade or so away. On paper, at least, there is more potential to deploy small modular reactor (SMR) technology in the oilsands [Read more]
Officials suggest pipeline company hid problems after spill
BILLINGS, Mont. (AP) — U.S. prosecutors suspect a Wyoming company of potentially concealing problems with a pipeline that broke in 2015 and spilled more than 50,000 gallons (240,000 liters) of crude into Montana’s Yellowstone River, fouling a small city’s drinking water supply, court filings show. The government is suing Bridger Pipeline for violations of environmental laws in the 2015 spill, which came after the line buried beneath the Yellowstone became exposed and broke when ice scoured [Read more]
New Brunswick Mi’kmaq chiefs join court challenge to N.L.’s Bay du Nord oil project
EEL GROUND, N.B. - An organization representing eight Mi’kmaq groups in New Brunswick is joining a court challenge to the federal government's approval of a new offshore oil project in Newfoundland. Mi’gmawe’l Tplu’tagnn Inc. says a single spill from the Bay du Nord offshore oil development could harm Atlantic salmon. The group says Ottawa did not fulfil its duty to meaningfully consult with Indigenous communities about the proposed project led by Norway-based Equinor. The federal [Read more]
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