CALGARY, Oct. 30, 2013 /CNW/ - Enbridge Inc. ("Enbridge") today announced it is proceeding with development of the Norlite Pipeline system. As part of a Memorandum of Understanding between affiliates of Enbridge and Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) ("Keyera"), Keyera has the right to participate in the Norlite diluent pipeline as a 30% non-operating owner. A decision whether to participate will be made within 30 days. As part of the service offering, the Norlite system may access certain [Read more]
News
Enbridge to Develop $1.4 Billion Norlite Diluent Pipeline
CALGARY, ALBERTA--(Marketwired - Oct. 30, 2013) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) today announced that it will develop a new industry diluent pipeline with associated capital of up to $1.4 billion, depending on scope, to meet the needs of multiple producers in the Athabasca oil sands region. The base 16-inch diameter scope for the project will be anchored by throughput commitments from the Fort Hills Partners (Suncor Energy Inc., Total E&P Canada Ltd. and Teck Resources Limited) for [Read more]
Enbridge to Develop $1.6 Billion Wood Buffalo Extension Pipeline for Fort Hills and Suncor
CALGARY, ALBERTA--(Marketwired - Oct. 30, 2013) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) today announced that it has been selected by the Fort Hills partners (Suncor Energy Inc., Total E&P Canada Ltd. and Teck Resources Limited) as well as Suncor Energy Oil Sands Limited Partnership (Suncor) to develop a new $1.6 billion pipeline to transport crude oil production under long term transportation commitments to Enbridge's mainline hub at Hardisty, Alberta. The Wood Buffalo Extension pipeline will [Read more]
Suncor Energy reports 2013 third quarter results
CALGARY, ALBERTA--(Marketwired - Oct. 30, 2013) - Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Effective January 1, 2013, Suncor adopted new and amended accounting standards, described in the Other [Read more]
Suncor Energy and partners proceeding with Fort Hills oil sands project
CALGARY, ALBERTA--(Marketwired - Oct. 30, 2013) - Suncor Energy today announced that, together with joint venture co-owners Total E&P Canada Ltd. and Teck Resources Limited., it has voted unanimously to proceed with the Fort Hills oil sands mining project. The Fort Hills project is located in Alberta's Athabasca region, 90 kilometres north of Fort McMurray. "The Fort Hills project is one of the best undeveloped oil sands mining assets in the Athabasca region, is an excellent fit [Read more]
New Brunswick Premier won’t meet with shale gas protesters, says there’s no point
FREDERICTON - New Brunswick Premier David Alward says he has no plans to visit a traditional First Nation longhouse that has been erected across the street from the provincial legislature to protest shale gas exploration. Alward said he doesn't see what would be achieved by meeting with Chief Candice Paul of the St. Mary's First Nation. "Chief Paul has made it quite clear where her position is on resource development and at this point in time I don't see what would be gained," Alward said [Read more]
NEB Releases Decision for an Operations Authorization for ConocoPhillips
CALGARY, Oct. 30, 2013 /CNW/ - The National Energy Board (NEB or Board) today released its letter, and terms and conditions to approve ConocoPhillips' application for an Operations Authorization (OA) to drill two wells on Exploration Licence area EL470 near Norman Wells, Northwest Territories. This is the first horizontal fracturing (fracking) authorization in the North issued by the Board. ConocoPhillips first sought approval from the Sahtu Land and Water Board (SLWB) prior to applying to the [Read more]
TransForce exiting the Canadian oil rig moving business to focus on U.S.
MONTREAL - Trucking and courier company TransForce is getting out of the rig-moving business in Canada early next year as it tries to stem losses by focusing on its growing U.S. operations. "It's a tough market; the pricing pressure is very, very hard there on the rig-moving side," CEO Alain Bedard said Wednesday in a conference call to discuss its third-quarter results. The move will reduce annual revenues by up to $25 million but also cut losses. It sold $5 million in equipment in the [Read more]
Athabasca confident on Dover oilsands sale, Duvernay joint venture
CALGARY - Athabasca Oil Corp. says it's optimistic it will be able to sell its stake in the Dover oilsands project to its Chinese partner, despite recent setbacks, as well as land joint-venture deals for some of its other holdings. But, should those efforts fail, the Calgary-based company said Wednesday it is prepared to sharply reduce spending and pursue other measures to stay afloat. On October 18, Alberta's highest court gave an aboriginal group the right to appeal a regulatory decision [Read more]
UPDATE: Trudeau praises Redford’s NATIONAL ENERGY strategy
Speaking at the petroleum club in Calgary, Justin Trudeau praised Alberta Premier Alison Redford's National Energy Strategy. Throughout his speech, the federal Liberal leader slammed Harper and the conservatives for the environment policy and not acting enough on getting Keystone XL approved. Below is a feed of tweets with highlights of the speech: Trudeau touts carbon pricing and tougher regs at Calgary's Petroleum Club. Supports national energy strategy - just don't call it [Read more]