CALGARY - Suncor Energy Inc. will delay a planned maintenance shutdown at its Base Plant oilsands mine upgrader in view of surging COVID-19 outbreaks that led to a state of emergency being declared last week for the Fort McMurray area of northern Alberta. CEO Mark Little says the delay of the maintenance "turnaround" for one of the coker units in the upgrader will allow the company to reduce the number of contractors in the region until after similar work now underway at the nearby Syncrude [Read more]
Trans Mountain pipeline operator wins fight to avoid naming its insurance companies
CALGARY - The Canada Energy Regulator says it has decided to grant a request by the operator of the Trans Mountain pipeline to protect the identity of its insurers in its regulatory filings. In a ruling, the federal regulator says it accepts Trans Mountain’s argument that identifying its insurers could be expected to make it harder to get insurance at a reasonable price and prejudice its competitive position. It says the decision applies only to the existing pipeline, not its expansion [Read more]
Brookfield Infrastructure says takeover target Inter Pipeline denying data access
CALGARY - In the latest shot fired in the battle for Inter Pipeline Ltd., Brookfield Infrastructure Partners LP charges it hasn't been granted access to its target's data room despite its hostile takeover offer made in February and "clear desire" to participate in the company's strategic review process. Brookfield said Calgary-based Inter's update last week on contracting volumes from its under-construction Heartland Petrochemical Complex northeast of Edmonton "raises many more questions than [Read more]
Federal Court of Appeal upholds Alberta right to turn-off-the-taps legislation
OTTAWA - The Federal Court of Appeal has ruled that Alberta has the right to control the amount and destination of oil and other fuels flowing through its pipelines. The decision is a victory for the province in its battle with British Columbia over so-called turn-off-the-taps legislation enacted by Alberta in 2018, at the height of a dispute between the two provinces over construction of the Trans Mountain pipeline. Three justices agree an earlier injunction blocking Alberta from using [Read more]
Trans Mountain ordered to delay pipeline construction in B.C. bird nesting area
VANCOUVER - Environment and Climate Change Canada has ordered a halt to construction of the Trans Mountain pipeline through a forest in Burnaby, B.C., until the end of bird nesting season. The department says the order was issued following an enforcement officer’s visit to the site prompted by complaints that nests of the Anna's hummingbird and other migratory birds were being damaged. It says cutting trees, using bulldozers, chainsaws or other heavy machinery in the area, will likely [Read more]
Study says easing rules on transfer of unreclaimed oil wells could speed cleanup
CALGARY - A report says Alberta should lower regulatory barriers that discourage businesses from reusing abandoned oil and gas wells. The Canada West Foundation says that could include allowing companies to sell off defunct energy infrastructure without completely cleaning it up. The study says that could make it easier for industries involving geothermal power, lithium production or solar energy to use parts of old sites that are still useful. The foundation says the Alberta Energy [Read more]
AltaGas sells non-core U.S. natural gas transport and storage assets for $344M
CALGARY - Shares in AltaGas Ltd. are on the rise after it announced it has sold its U.S. transportation and storage business for $344 million to better focus on its core energy infrastructure operations and pay down debt. AltaGas announced the deal to sell the assets to an entity owned by Six One Commodities LLC and Vega Energy Partners, Ltd., after markets closed on Friday. On Monday, its shares rose by as much as 3.3 per cent or 71 cents to a new 52-week high of $22.28. In a report, [Read more]
Precision Drilling CEO says Canadian and U.S. GHG targets are ‘extremely aggressive”
CALGARY - New greenhouse gas emission targets set by Canada and the United States are "extremely aggressive" and being made without proper process, says the CEO of Calgary-based Precision Drilling Corp. But Kevin Neveu says he supports the climate change goals behind commitments by Prime Minister Justin Trudeau to slash Canada's GHGs by 40 to 45 per cent and by U.S. President Joe Biden to cut emissions by 50 to 52 per cent by 2030. Neveu says there are solutions available now such as using [Read more]
Crude-by-rail exports fall by 43 per cent to 111,900 bpd in February, says regulator
CALGARY - The Canada Energy Regulator says Canadian crude-by-rail exports fell by 43 per cent in February compared with the previous month. It says lower oil production and strong prices in Canada compared with U.S. benchmarks, along with the impact of the polar vortex cold weather event on southern U.S. refineries, meant fewer shippers elected to send their barrels by rail. A total of 111,900 barrels per day were exported by rail in February, down from 195,500 in January. Crude-by-rail [Read more]
Hostile takeover target Inter Pipeline reports 60% of Heartland plant is contracted
CALGARY - Inter Pipeline Ltd. says it has signed take-or-pay contracts covering about 60 per cent of production from the Heartland Petrochemical Complex it's building northeast of Edmonton as it continues to fight off a hostile takeover bid by Brookfield Infrastructure Partners LP. The Calgary-based company said Thursday the deals with a total of seven parties have an average duration of nine years and it is confident it will achieve its goal of 70 per cent contracted production before the [Read more]
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