EDMONTON - Alberta's auditor general is criticizing the government for failing to fix problems pointed out six years ago in a program that's supposed to guarantee coal and oilsands mines clean up after themselves. Doug Wylie says there's so much confusion over who's responsible for the government's own contaminated sites that there's no stable funding to ensure that an abandoned coal mine in northern Alberta stays safe. "There is an impact beyond accounting and process issues," Wylie said [Read more]
Alberta finance minister defends $1.3B loss on Keystone XL as ‘calculated decision’
EDMONTON - Alberta’s finance minister says the province's $1.3-billion investment of taxpayers' money in the now-defunct Keystone XL pipeline project was a prudent gamble given the potential payoff in profits and jobs. Finance Minister Travis Toews says it was a "calculated decision," given the pipeline would have provided $30 billion in royalties over two decades had it gone through. Energy Minister Sonya Savage says the decision meshed with a broader commitment to grow Alberta’s [Read more]
Embattled Keystone XL pipeline continues to divide experts — even post-mortem
CALGARY - Even after its death, the divisive Keystone XL pipeline continues to leave Canadian energy industry experts at odds. While some suggest TC Energy Corp.'s cancellation of the project won't impact global emissions, others says it's a significant step in the fight against climate change. Dennis McConaghy, a retired oilpatch executive, calls the company's termination of the pipeline a capitulation to the environmental movement. The former TransCanada executive says the death of [Read more]
A timeline of the Keystone XL pipeline project
July 2008: TC Energy Corp. — then called TransCanada Corp. — and ConocoPhillips, joint owners of the Keystone Pipeline, propose a major extension to the network. The expansion, dubbed Keystone XL, would carry hundreds of thousands of barrels of oilsands bitumen from Alberta to Texas. 2009: As the U.S. State Department wades through comments based on an environmental assessment of the project, TransCanada starts visiting landowners potentially affected by the pipeline. Opposition emerges in [Read more]
Force behind renaming and relocation of Encana set to retire in August
DENVER - The head of the energy company formerly called Encana is retiring this summer. Ovintiv Inc. says chief executive Doug Suttles will retire Aug. 1 after eight years in the position. He will be replaced by Brendan McCracken, who began his career with the company nearly 25 years ago. He served most recently as president. Ovintiv chairman Peter Dea says that under Suttles' leadership, Ovintiv was transformed into a leading North American resource play company. Dea adds that [Read more]
Crescent Point sells non-core southeast Saskatchewan assets for $93 million
CALGARY - Crescent Point Energy Corp. has sold its remaining non-core southeast Saskatchewan conventional assets for $93 million. As a result of the transaction, the Calgary-based company says it has also reduced its asset retirement obligations by about $220 million, or nearly a quarter of its overall obligations as of March 31. The assets generated minimal free cash flow, after incorporating development capital required to sustain production and reclamation activities, despite [Read more]
Worker operating excavator killed at Syncrude mine site in northern Alberta
FORT MCMURRAY - Occupational Health and Safety says a Syncrude employee operating an excavator was killed Sunday at an oilsands mine in northern Alberta. Government spokeswoman Natasha McKenzie says it happened at the company's Aurora mine, about 70 kilometres north of Fort McMurray. McKenzie says no other details can be released as the death is still being investigated. Syncrude says in a statement that the worker died Sunday evening "despite emergency response efforts." The company [Read more]
Energy regulator orders Trans Mountain to stop tree clearing work on project
KAMLOOPS, B.C. - The Canada Energy Regulator has issued an order stopping tree cutting and grass mowing across the entire $12.6-billion Trans Mountain pipeline expansion project. A statement from Trans Mountain says the regulator's order was issued after a subcontractor started tree cutting and mowing activities without completing the necessary environmental compliance work. The statement says no birds or bird nests were impacted by the clearing work. Trans Mountain says it is working [Read more]
Insurance provider for Trans Mountain pipeline says it won’t renew policy
An insurance provider for the Trans Mountain pipeline says it will not renew its policy with the company when it expires in August. Argo Group International Holdings Ltd., an international underwriter based in Bermuda, says the project no longer fits the company's risk appetite. The decision by Argo Group comes even after the operator for Trans Mountain received regulatory approval to protect the identity of its insurers. Trans Mountain had argued that identifying its insurers could [Read more]
Michigan responds on Line 5: ‘This case is a state-law action through and through’
WASHINGTON - Lawyers for the state of Michigan say the dispute over the Line 5 pipeline belongs in state court, countering efforts by Canada and others to have it heard by a federal judge. In documents filed in court Tuesday, Michigan Attorney General Dana Nessel also argues that Canada has no legal basis to invoke a 1977 treaty that covers cross-border pipelines. The brief is Michigan's stern reply to the argument by Calgary-based Enbridge Inc., the pipeline's owner, that the case belongs [Read more]
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