OTTAWA - Apparently stymied to the West and possibly to the South, the Harper government's pipe dreams for turning Canada into an energy superpower got a measure of credibility with Thursday's unveiling of a plan to carry Alberta crude east.The $12 billion Energy East proposal to pipe crude from Alberta to the Atlantic — once considered the least likely escape route for the landlocked resource — has overnight vaulted as the pipeline with the best prospects for success, and the most [Read more]
News
Oil soars on positive signs for global economy
NEW YORK (AP) -- The price of oil is suddenly marching upward again. Oil rose $2.86 a barrel Thursday, for a two-day gain of $4.81, or 4.7 percent. That erased a $4 decline in the week ended Tuesday. Positive signs on the global economy were the catalyst Thursday. Data from China and Europe showed improvement in manufacturing. In the U.S., in addition to a strong report on manufacturing, a drop in unemployment claims indicated a strengthening job market. Even with those signs of [Read more]
Saskatchewan premier Wall welcomes plan for pipeline to move western oil east
SASKATOON - Saskatchewan Premier Brad Wall says a proposed pipeline that would move oil from Western Canada to the East Coast would bring many benefits to his province.TransCanada Corp. has announced that it is moving ahead with a $12-billion plan to ship crude oil from Alberta, through Saskatchewan and on to eastern refineries.The pipeline would move 1.1 million barrels of oil a day and would use existing natural gas lines in Saskatchewan as well as new lines.Wall says the project [Read more]
Pengrowth Reports Solid Second Quarter Production and Significant Progress on Thermal Strategy
CALGARY, ALBERTA--(Marketwired - Aug. 1, 2013) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) today announced financial and operating results for the second quarter of 2013. "We have been highlighting Pengrowth's differentiated strategy of moving to a sustainable, lower decline production mix, bolstered by thermal bitumen production," said Derek Evans, Pengrowth's President and CEO. "During and subsequent to the second quarter of 2013, we have demonstrated our ability to execute that [Read more]
Bonavista Energy Corporation Announces 2013 Second Quarter Results
CALGARY, ALBERTA--(Marketwired - Aug. 1, 2013) - Bonavista Energy Corporation (TSX:BNP) ("Bonavista") is pleased to report to shareholders its condensed consolidated interim financial and operating results for the three and six months ended June 30, 2013. The unaudited financial statements and notes, as well as management's discussion and analysis, are available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at http://www.sedar.com and on Bonavista's website at [Read more]
Canadian Building Trades pleased by the TransCanada Corporation announcement of the Energy-East Project
OTTAWA, Aug. 1, 2013 /CNW/ - The Canadian Building Trades is very pleased by the TransCanada Corporation announcement of the Energy-East Project; Director of Canadian Affairs Robert Blakely said "This is the sort of job that proves that a pipeline is a conduit that connects high paying jobs in one region of Canada to high paying, long term and sustainable jobs in other Canadian Regions. At the same time as providing this job bonanza it changes the game for refiners in Central and Atlantic [Read more]
Irving Oil and TransCanada Announce Joint Venture to Develop New Saint John Marine Terminal
Proposed $300M Marine Terminal Represents first Major Regional Investment Directly Linked to the Energy East Pipeline Project SAINT JOHN, NB, Aug. 1, 2013 /CNW/ - Following TransCanada's announcement today to proceed with the development of the Energy East Pipeline that will transport western Canadian crude oil to Montreal, Quebec City and Saint John, Irving Oil and TransCanada announced they will form a joint venture to develop and construct the new Canaport Energy East Marine Terminal at [Read more]
Bellatrix announces it has entered into a $200 million strategic joint venture partnership and a $52.5 million asset disposition with Daewoo International Corporation and Devonian Natural Resources Private Equity Fund
CALGARY, Aug. 1, 2013 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to announce it has entered into a definitive agreement for an asset sale (the "Asset Sale") and joint venture (the "Joint Venture") with Daewoo International Corporation ("Daewoo") and Devonian Natural Resources Private Equity Fund ("Devonian"). Under the terms of the associated agreements, Bellatrix will sell, effective July 1, 2013, to Devonian and Daewoo jointly 50% of the [Read more]
Suncor says production reaching new heights as it catches up after outages
CALGARY - Suncor Energy Inc. says maintenance downtime and pipeline outages had an impact on its second-quarter profits, but the company expects operations will "run reliably" for the rest of 2013."We anticipate the total production for the year will fall in the lower half of the guidance range," said chief executive Steve Williams in a conference call on Thursday."Obviously this implies strong production through the second half of the year, and that's exactly what we're [Read more]
TransCanada going ahead with Energy East line, a ‘historic opportunity’
By Lauren Krugel, The Canadian Press CALGARY – A $12-billion plan billed as an “historic opportunity” to supply eastern Canada with western crude is moving ahead, with TransCanada Corp. announcing Thursday that it has more than enough support for its Energy East pipeline. Alberta Premier Alison Redford hailed Energy East as a “nation-building project,” while critics promptly vowed to fight the proposal, which they describe as unsafe and unlikely to deliver on promises of job creation and [Read more]