CALGARY - Enbridge Inc. (TSX:ENB) says the U.S. State Department is taking longer than expected to review an expansion to its Alberta Clipper pipeline between Alberta and Wisconsin. But executives with the Calgary-based energy shipper say they're confident a green light will come in time to expand the line to 800,000 barrels per day by the middle of next year. Enbridge obtained a U.S. federal permit in 2009 before starting up the first phase of the line, which has 450,000 barrels per day [Read more]
News
Column: Proposed Kitimat oil refinery just another barrier to oil sands development
The suggestion that a refinery might allow for acceptable development is little more than a red herring By Kenneth Green CALGARY, AB/ Troy Media/ - B.C. Green party MLA Andrew Weaver has (grudgingly) endorsed the idea of building a $25 billion refinery in British Columbia to convert Alberta’s bitumen into gasoline, diesel fuel, and aviation fuel, allowing the export of refined product, reasoning that it is safer for the environment because refined petroleum products evaporate more [Read more]
Storm Resources Ltd. Announces Closing of $29.7 Million Bought Deal Financing and $5.1 Million Non-Brokered Financing
CALGARY, ALBERTA--(Marketwired - Feb. 14, 2014) - Storm Resources Ltd. ("Storm") (TSX VENTURE:SRX) is pleased to announce that it has completed its previously announced bought deal financing for aggregate gross proceeds of $29,725,000 (the "Bought Deal Financing"). Pursuant to the Bought Deal Financing, Storm, through a syndicate of underwriters led by FirstEnergy Capital Corp. and including Peters & Co. Limited, National Bank Financial Inc., Clarus Securities Inc., RBC Capital Markets, [Read more]
Artisan Energy Announces Extension to Closing of Viking Light Oil Acquisition
CALGARY, ALBERTA--(Marketwired - Feb. 14, 2014) - As previously announced, Artisan Energy Corporation ("Artisan" or the "Corporation") (TSX VENTURE:AEC) and Magnum Energy Inc. ("Magnum") (TSX VENTURE:MEN) have entered into a purchase and sale agreement (subject to certain closing conditions) pursuant to which Artisan will acquire Magnum's 50% working interest in 2,720 gross acres (1,360 net acres) of land in the Provost area of Alberta (the "Provost Asset"). The purchase and sale agreement has [Read more]
Enbridge Announces Executive Appointments
CALGARY, ALBERTA--(Marketwired - Feb. 14, 2014) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) and Enbridge Pipelines Inc. announced today changes to responsibilities of certain senior executives, effective March 1, 2014. Stephen J. Wuori, currently President, Liquids Pipelines & Major Projects, will be appointed Strategic Advisor, Office of the President and CEO. Guy Jarvis, currently Executive Vice President and Chief Commercial Officer, Liquids Pipelines, will be appointed President, Liquids [Read more]
Thousands apply to talk about Trans Mountain
VANCOUVER - Thousands of groups, businesses and individuals have applied to take part in the upcoming National Energy Board hearings into Kinder Morgan's proposed expansion if its Trans Mountain oil pipeline through Alberta and British Columbia Energy board spokeswoman Sarah Kiley says among the 2,131 applicants are many First Nations groups, municipalities from Edmonton to Vancouver, conservation groups and businesses. One of the more unexpected applicants is the Washington State [Read more]
Oil dips; natural gas soars on supply report
The price of oil barely budged Thursday as benchmark West Texas Intermediate crude for March delivery slipped two cents to US$100.35 a barrel on the New York Mercantile Exchange. U.S. economic indicators were mostly downbeat on Thursday, suggesting weak demand, although a report from the International Energy Agency gave oil some support. The agency raised slightly its 2014 forecast for global demand to 92.6 million barrels a day, 125,000 barrels above its previous expectations from a month [Read more]
Quebec to explore Anticosti Island oil reserves
MONTREAL - The Quebec government is going ahead with plans to exploit the oil resources of Anticosti Island, estimated at 46 million barrels. Premier Pauline Marois announced deals with the firms Petrolia, Corridor Resources, Junex, and Maurel & Prom to carry out two exploration programs in two phases. The government will invest a total of $115 million in the projects. The news comes as speculation swirls around a possible provincial election in which opposition parties have said [Read more]
Recent cold not swaying Encana gas outlook
CALGARY - Encana Corp. says a recent run-up in natural gas prices — driven by a prolonged stretch of frigid weather throughout North America — has been great for business, but it's not enough to sway its mid-term outlook for that commodity. "It's good news if you're a company with a lot of gas production. We're having a very cold winter, which is pulling a lot of demand and has obviously created very strong pricing here recently," CEO Doug Suttles told analysts on a conference call Thursday, [Read more]
Cenovus hikes dividend
CALGARY - Oilsands producer Cenovus Energy Inc. says its dividend is going up 10 per cent, starting with the next payment in March. The increased payout to Cenovus shareholders was announced along with the company's improved fourth-quarter results. The Calgary-based company reported $212 million of operating earnings, equal to 28 cents per share. That compared with a year-earlier operating loss of $188 million or 25 cents per share. Cenovus says its quarterly dividend will rise to [Read more]