One of the most disruptive cyberattacks in history is drawing public attention to an issue that has long been on the radar of the Canadian pipeline industry: cybersecurity. It has been identified as one of the most serious economic and national security challenges we face, not only as an industry, but as a country. Canada’s pipeline industry is not only aware of this threat, it is a global leader in cyber security and has highly sophisticated protections in place to guard its infrastructure [Read more]
Headlines
Proxy firm Glass Lewis joins ISS in backing Brookfield’s bid for Inter Pipeline
Brookfield Infrastructure Partners said on Friday proxy advisory company Glass Lewis has backed Brookfield's offer for Inter Pipeline Ltd over a rival bid from Pembina Pipeline Corp. This follows days after support for Brookfield's bid from proxy advisory firm Institutional Shareholder Services (ISS). Pembina has made an all-stock bid of about C$8.5 billion ($6.77 billion), while Brookfield had earlier offered C$8.48 billion, with an all-cash option, before raising its hostile offer for [Read more]
MEG Energy announces strong second quarter results, further debt repayment, non-core asset sale and revised full year guidance
CALGARY, AB - MEG Energy Corp. (TSX: MEG) ("MEG" or the "Corporation") reported its second quarter of 2021 operational and financial results. MEG continues to proactively respond to the safety challenges associated with the COVID–19 pandemic and remains committed to ensuring the health and safety of all of its personnel and the safe and reliable operation of the Christina Lake facility. "The second quarter was another strong operational quarter for MEG, giving us the confidence to increase [Read more]
MEG Energy announces US $100 million debt repayment
CALGARY, AB - MEG Energy Corp. ("MEG" or the "Company") (TSX: MEG) announced today that it has issued a notice to redeem US$100 million aggregate principal amount of its 6.50% senior secured second lien notes due 2025 (the "Second Lien Notes") at a redemption price of 103.25%, plus accrued and unpaid interest to, but not including, the redemption date. The redemption is expected to be completed on or about August 23, 2021. Inclusive of the redemption, MEG will have redeemed US$354 million of [Read more]
Oil prices keep overnight gains as demand hopes offset U.S. stock build
Oil prices held on to their gains from the previous session on Thursday, as signs of stronger demand helped offset an unexpected rise in U.S. inventories. U.S. West Texas Intermediate (WTI) crude was up 60 cents, or 0.88%, to $70.85 a barrel, after rising 4.6% on Wednesday. Brent crude was up 53 cents, or 0.64%, to $72.70 a barrel after rising 4.2% in the previous session. "The market shrugged off a rise in (U.S.) commercial inventories... with most of the gains occurring on the West [Read more]
Column: Looming energy wars – lecturing 4 billion people isn’t as easy as it looks
“Logic is the art of non-contradictory identification. A contradiction cannot exist. No concept man forms is valid unless he integrates it without contradiction into the total sum of his knowledge. To arrive at a contradiction is to confess an error in one’s thinking; to maintain a contradiction is to abdicate one’s mind and to evict oneself from the realm of reality” - Ayn Rand, Atlas Shrugged Most university philosophy departments loathe Ayn Rand, but that’s ok. True, her fiction and [Read more]
Cenovus to buy renewable power from Cold Lake First Nations, Elemental Energy partnership
CALGARY, Alberta - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has entered into a power purchase agreement (PPA) to buy solar-power produced electricity and the associated emissions offsets from a partnership between Cold Lake First Nations (CLFN) and Elemental Energy Inc., helping Cenovus advance two of its environmental, social & governance (ESG) focus areas by addressing climate & greenhouse gas (GHG) emissions as well as further supporting Indigenous reconciliation through economic [Read more]
Alter NRG Corp. sale or investor solicitation process
INTRODUCTION MNP Ltd. in its capacity as Receiver (the “Receiver”) of Alter NRG Corp. (the “Company”) is conducting a sale process for the assets of the Company. The Company was headquartered in Calgary, Alberta where it provided alternative energy solutions. The Company sold its Westinghouse Plasma Gasification Technology through a wholly owned subsidiary called Westinghouse Plasma Corp. The proprietary plasma gasification technology was used to convert biowaste into renewable energy [Read more]
Tidewater Midstream announces the creation of Tidewater Renewables and capitalization via initial public fffering
CALGARY, AB - Tidewater Midstream and Infrastructure Ltd. ("Tidewater Midstream") is pleased to announce the creation of Tidewater Renewables Ltd. ("Tidewater Renewables") as a wholly owned subsidiary. Tidewater Renewables has been formed to become a multi-faceted, energy transition company focusing on the production of low carbon fuels. The creation of and the initial public offering of Tidewater Renewables is a result of a thorough evaluation of financing alternatives with the goal of funding [Read more]
Quebec rejects LNG export project, citing environmental concerns
The province of Quebec on Wednesday rejected a liquefied natural gas export project by the Saguenay port citing environmental concerns, in the latest blow to North American LNG development. Quebec Environment Minister Benoit Charette said the proposed Énergie Saguenay project would discourage the global transition toward cleaner energy sources. The C$9 billion ($7.2 billion) project by privately held GNL Quebec had plans to export 11 million tonnes of LNG a year from Western Canadian [Read more]