REGINA - An American senator who has promoted the importance of carbon- capture technology is suggesting that he's been misled about its success in Saskatchewan.Sen. Joe Manchin says the carbon-capture facility at the Boundary Dam power plant has "failed to operate successfully for any meaningful period of time."Manchin is also critical of the U.S. Environmental Protection Agency for including the Saskatchewan project in its greenhouse gas emissions standards."Many of the glowing performance [Read more]
News
National energy plan needed to replace focus on individual projects: Valero CEO
MONTREAL - The owner of one of Canada's largest oil refineries hopes a first ministers' meeting later this month will begin to develop a national energy strategy to replace what he sees as a piecemeal focus on individual projects like Keystone XL and Energy East."We have to have a road map here nationally so that we understand what we want to do here with the different forms of energy," Valero Energy CEO Ross Bayus said Monday.While not willing to criticize the former Conservative government, [Read more]
Lorraine Mitchelmore, head of Shell’s Canadian division, stepping down
CALGARY - The head of Royal Dutch Shell's Canadian operations is leaving her job at the end of this year.Lorraine Mitchelmore has been Shell Canada's president and country chair for past six years and has led the global energy giant's heavy oil business for three.Mitchelmore says she decided to move on in order to spend more time with her two daughters, the youngest of whom is in Grade 6.She says her next career steps will involve contributing to Canada's prosperity by serving on select boards. [Read more]
Platts Survey: OPEC Pumps 31.08 Million Barrels of Crude Oil Per Day in October
LONDON, Nov. 16, 2015 /PRNewswire/ -- Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.08 million barrels per day (b/d) in October, down 120,000 b/d from September, and the lowest level since May, a Platts survey of OPEC and oil industry officials and analysts showed. The decline was led by production drops in Saudi Arabia and Iraq. "OPEC output has now dropped over three consecutive months, but it would be a mistake to think that this might signal a [Read more]
2.7 Billion Cubic Feet Per Day of New Contracts Leads to $570 Million NGTL System Expansion
CALGARY, ALBERTA--(Marketwired - Nov. 16, 2015) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced today that its wholly-owned subsidiary, NOVA Gas Transmission Ltd. (NGTL), has signed contracts for approximately 2.7 billion cubic feet per day (Bcf/d) of new firm natural gas transportation service that will require a $570 million system expansion for 2018. "Our NGTL System is sitting on top of extensive natural gas supplies, making it well-positioned to unlock the resource [Read more]
Canadian Oil Sands to Announce 2016 Budget
CALGARY, AB--(Marketwired - November 16, 2015) - (TSX: COS) (OTCQX: COSWF) -- Canadian Oil Sands ("COS") plans to announce its 2016 Budget on December 1, 2015 at 8:00 a.m. ET following the review and input of Syncrude Canada Ltd.'s ("Syncrude") owners on Syncrude's business plan. The budget will identify expectations for cost reductions and production increases. A conference call and webcast will be held in conjunction with the release to discuss the 2016 budget as well as longer-term [Read more]
Announcement of Results for the Third Quarter Ended September 30, 2015 and an Update on West Ells Progress
HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - Nov. 15, 2015) - Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKSE:2012) today announced its financial results for the third quarter ended September 30, 2015. The Corporation's consolidated financial statements, notes to the consolidated financial statements and management's discussion and analysis have been filed on SEDAR (www.sedar.com) and with The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") [Read more]
Former U.S. ambassador ’embarrassed’ by handling of Keystone XL review
CALGARY - A former American ambassador to Canada says he is embarrassed by how the U.S. government handled the Keystone XL pipeline review.David Wilkins, who was ambassador during the presidency of George W. Bush, says there was no need to take seven years to announce a decision.U.S. President Barack Obama rejected the US$8-billion cross-border pipeline a week ago on the grounds it would neither help the U.S. economy nor its efforts to combat carbon emissions.Wilkins, speaking at an energy [Read more]
Calgarians waiting for ‘other shoe to drop’ over energy woes: mayor
CALGARY - Calgary's mayor says plunging oil prices haven't had as dire an effect on the city as most had expected, but many in the industry are still waiting for the "other shoe to drop."Naheed Nenshi says despite headlines about job losses in the energy sector, Calgary actually gained more jobs than it lost in the first half of 2015.But he adds many expect the worst is yet to come because of U.S. President Barack Obama's rejection of the Keystone XL Pipeline."With the announcement on Keystone, [Read more]
IEA says oil markets bearish as demand growth slows, stockpiles climb
CALGARY - The latest International Energy Agency outlook points to a continued slowing of Canadian oilsands production growth and the need for more cost-cutting, an analyst says.Martin Pelletier, portfolio manager at TriVest Wealth Counsel, said more supply cuts are needed before the market can turn around."We have not seen supply response yet, especially among non-OPEC nations, and as a result there is still a supply-demand disconnect and we're seeing that reflected in record-high inventory [Read more]