OTTAWA - TransCanada's decision to cancel the Energy East pipeline project exposed deep divisions across the political landscape Thursday, highlighting the ever-present clash between energy development and environmental protection. The premiers of Alberta and New Brunswick and Calgary Mayor Naheed Nenshi all expressed disappointment over the decision, while the Opposition Conservatives blasted Prime Minister Justin Trudeau's Liberal government for "disastrous" energy policies that they [Read more]
Headlines
Oil steady as talk of new OPEC deal balances U.S. exports
LONDON (Reuters) - Oil prices steadied on Thursday on expectations that Saudi Arabia and Russia would extend production cuts, although record U.S. exports and the return of supply from a Libyan oilfield dragged on the market. “OPEC and Russia are talking about extending production limits, but there’s still plenty of supply with U.S. crude exports up sharply,” said Carsten Fritsch, commodities analyst at Commerzbank in Frankfurt. Brent crude was up 35 cents at $56.15 a barrel by 1000 GMT. U.S. [Read more]
TransCanada Announces Termination of Energy East Pipeline and Eastern Mainline Projects
CALGARY, ALBERTA--(Marketwired - Oct. 5, 2017) - News Release - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced today it will no longer be proceeding with its proposed Energy East Pipeline and Eastern Mainline projects. Following is a statement from TransCanada President and Chief Executive Officer Russ Girling: After careful review of changed circumstances, we will be informing the National Energy Board that we will no longer be proceeding with our Energy East and [Read more]
Encana starts up second Montney plant ahead of schedule and under budget; condensate growth to expand margins and drive quality returns
CALGARY, Alberta, Oct. 05, 2017 (GLOBE NEWSWIRE) -- (TSX:ECA) (NYSE:ECA) Encana successfully started up the Sunrise processing plant on September 27, under budget and more than one month ahead of original schedule. Sunrise is the second of three processing plants that support Encana’s condensate-focused growth plan in the Montney. In parallel with the Sunrise and Tower facilities ramping up, the third plant, Saturn remains ahead of schedule and is on track to start up before year-end. In [Read more]
GDM Pipelines and Explore Integrity Launch gX Insight, the Industry’s First Complete Pipeline Integrity Solution.
New solution offers customers seamless integration of integrity data and field inspections. GDM Pipelines (“GDM”), the leader in midstream information management solutions, and Explore Integrity (“Explore”), the premier pipeline risk management and integrity specialists, have joined forces to launch gX Insight, the oil and gas industry’s first and only complete pipeline integrity solution to incorporate the planning, execution and data collection for in-field integrity programs with [Read more]
Trans Mountain Signs Contracts for Expansion Project
CALGARY, Oct. 4, 2017 /CNW/ - Kinder Morgan Canada Limited (TSX:KML) is pleased to announce that Trans Mountain has signed contracts for the Expansion Project with two of the six contractors it previously announced memoranda of understanding with in September, 2017. The remaining four are expected to be signed in the near future. The company has signed a construction contract with Macro Spiecapag Joint Venture for the Spread 5B (Coquihalla – Hope) portion of the Project, and an engineering, [Read more]
Petrus Resources Announces Farm-In Agreement and Provides an Operations Update
CALGARY, ALBERTA--(Marketwired - Oct. 4, 2017) - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX:PRQ) continues to focus on expanding its core Ferrier operating area, improving the Company's balance sheet, lowering its cost structure and growing the Company's production and resulting funds from operations. Petrus is pleased to announce the following recent developments which demonstrate the Company's commitment to achieving these objectives. FERRIER FARM-IN Petrus has [Read more]
GLJ Petroleum Consultants: October 2017 Price Forecast
This summer has been about as predictable as Donald Trump’s Tweets. Be it wildfires in Western Canada, hurricanes in the Gulf, earthquakes in Mexico or talk of nuclear war with North Korea, this summer has been full of unpredictable events. The oil and gas markets have not been spared by this string of unforeseen circumstances, creating volatility in prices. World oil prices have risen by about 15% over the past quarter, bolstered by higher demand forecasts, increasing tensions between [Read more]
Construction Mats Support Heavy Equipment & Vehicles Over Soft Ground
A common challenge that project managers face is completing construction projects on time and within budget—especially when building access roads, oil platforms and pads or pipelines in extremely soft soils and in difficult-to-access areas. Construction mats are often used to help address soft ground and remote site issues. Commonly used legacy construction mats are made from timber, laminate, steel and heavy composite. They can be effective, but are also costly and require heavy equipment to [Read more]
Malaysia’s Petronas puts some Canadian assets up for sale – adviser
Malaysian state energy firm Petroliam Nasional Berhad, or Petronas, is looking to sell some oil and gas assets owned by its Canadian unit Progress Energy, its adviser BMO Capital Markets said. The potential sale marks a further retreat by Petronas in Canada after it scrapped plans for a $29 billion liquefied natural gas export project in British Columbia in July. "BMO Capital Markets has been engaged by Progress Energy to assist with the sale of its Deep Basin assets in Alberta," the bank [Read more]