Trans Mountain's chief operating officer says the pipeline will likely return to full capacity in late January at "the earliest" as work continues after fallout from torrential rains that the company says will cost tens of millions of dollars. The pipeline shut down on Nov. 14 as a precaution following floods in the area of Hope, B.C., and came back online last week. Michael Davies, head of operations at the federally owned company, says the 21-day shutdown marks the longest in the [Read more]

CALGARY - Premier Jason Kenney used his first address to the Calgary Chamber of Commerce since the start of the pandemic to tout the recovery of Alberta's economy amid high energy prices. Saying that 'Alberta is back', he noted that in the first quarter next year the provincial GDP is expected to finally surpass the level it was in 2014 before a crash in oil prices pushed the province into recession. He says that is a sharp turnaround from the early days of the pandemic when unemployment [Read more]

CALGARY - Oil production in Alberta is at all-time record levels, but companies remain reluctant to increase capital spending budgets. Statistics Canada says oil and gas capital spending over the first three quarters of 2021 was 32 per cent below pre-pandemic levels. The industry also spent less than a third of what it did during the same period of 2014, when capital investment hit a record high. This is in spite of the fact that oil prices this fall spiked to levels not seen in seven [Read more]