An EIA Report With U.S. crude oil production at the highest level in two decades, outstripping pipeline capacity, the United States is relying more on railroads to move its new crude oil to refineries and storage centers. The amount of crude oil and refined petroleum products transported by rail totaled close to 356,000 carloads during the first half of 2013, up 48% from the same period in 2012, according to Association of American Railroads (AAR). U.S. weekly carloadings of crude oil and [Read more]
News
No rules against leaving unattended trains on main tracks: Transport Canada
OTTAWA - Transport Canada says there are no rules against leaving an unlocked, unmanned, running locomotive and its flammable cargo on a main rail line uphill from a populated centre.Officials with the federal rail regulator say they are looking at the overall safety of the rail system after the devastation wrought on the weekend by a runaway 73-car train carrying crude oil east through Quebec.The downtown of Lac-Megantic was flattened when an unattended train rolled in and exploded [Read more]
Terra Energy Closes on Sale of Remaining Montney Assets
CALGARY, ALBERTA--(Marketwired - July 9, 2013) - Terra Energy Corp. ("Terra" or the "Company") (TSX:TT) is pleased to announce that the Company has closed on the sale of the balance of its Montney assets in northeast British Columbia to Crew Energy Inc. ("Crew") for gross cash proceeds of $36 million. This is the final stage of a three part transaction with Crew involving the sale by the Company of its Montney assets in northeast British Columbia for combined gross proceeds of $78 [Read more]
Crew Energy Announces Closing the Acquisition of British Columbia Montney Acreage
CALGARY, ALBERTA--(Marketwired - July 9, 2013) - Crew Energy Inc. ("Crew" or the "Company") (TSX:CR) of Calgary, Alberta is pleased to announce that it has closed the acquisition of the third tranche of Montney acreage in British Columbia for a purchase price of $35.2 million. Third Tranche Highlights Acquisition of 81 sections of highly prospective Montney acreage proximate to Crew's existing 292 sections. The 18 section portion in the [Read more]
TRAGIC: Dozens feared dead in Quebec oil-train derailment
LAC-MEGANTIC, Quebec (AP) -- Blackened debris, twisted metal and gas leaks hampered rescue workers' search for perhaps dozens of bodies Tuesday, three days after a runaway oil train smashed into this small lakeside town and incinerated homes, a library and a crowded bar. Thirteen people were confirmed dead and nearly 40 others were still missing in a catastrophe that raised questions about the safety of transporting oil by rail instead of pipeline. Investigators were zeroing in on whether [Read more]
Oily sheen appears on Athabasca River
FORT CHIPEWYAN, Alta. - A northern Alberta Indian band says a mysterious oily sheen on the Athabasca River appears to be spreading and is lapping at the shores of Fort Chipewyan. "It's not a huge amount," Eriel Deranger, spokeswoman for the Athabasca Chipewyan First Nation, said Tuesday. "But there is obviously a petrochemical of some kind in the Athabasca River system in such great quantities from upstream that it is now residing on the shores of Lake Athabasca." Reports of dead [Read more]
TransCanada CEO says there’s no silver lining for pipelines after rail disaster
CALGARY - Executives with major Canadian pipeline companies say they see no silver lining to the Lac-Megantic train disaster.There have been suggestions that transporting oil by pipeline may seem more palatable after several oil-laden rail cars exploded over the weekend, killing more than a dozen people and devastating the small Quebec town.But TransCanada Corp. (TSX:TRP) CEO Russ Girling said there's "no good news here for anybody" in the tragedy and the notion that the pipeline [Read more]
Renegade Petroleum Ltd. Announces Executive Change
CALGARY, ALBERTA--(Marketwired - July 8, 2013) - Renegade Petroleum Ltd. (TSX VENTURE:RPL) ("Renegade" or the "Company") announces the departure of Mr. Alexander Wylie, Vice President, Finance and Chief Financial Officer of the Company, effective immediately. The Company wishes Mr. Wylie success in the future. Mr. Mark Lobello CA, Controller of the Company, has been appointed Interim Chief Financial Officer. The Company also announces that its strategic review is on-going and the Special [Read more]
Lac-Megantic: train brakes a key issue
OTTAWA - The question of how the brakes were set — or possibly reset — on a runaway train at the heart of the Lac-Megantic devastation emerged Monday as a critical aspect of the tragedy.Details and the sequence of events began to take shape with the acknowledgment the locomotive suffered an engine fire just hours before the train derailed Saturday.The blaze, which was quickly extinguished and thought to have been fed by the engine diesel, may have set in motion the subsequent disaster, [Read more]
Disaster shines spotlight on crude transport
CALGARY - The train disaster that devastated a Quebec town over the weekend is likely to intensify the debate around transporting crude oil — regardless of whether it's by rail or pipeline, observers say.Lac-Megantic, Que., is reeling from the oil-fuelled infernos at a time when two proposals are being weighed to ship Western crude east through the province by reconfiguring existing pipelines.For Adam Scott of Environmental Defence, the concern is more about the dangers of what's [Read more]