Canadian National Railway Co said on Tuesday it would be forced to shut down parts of its rail network unless rail line blockades in protest against a natural gas pipeline in British Columbia are removed. Blockades by anti-pipeline protesters near Ontario have forced passenger trains and goods transportation to be disrupted for the fifth straight day. Hundreds of trains were affected as was the movement of perishable food, propane, grain, feedstocks and coal, the railway said. The ports of [Read more]
Headlines
Entrances to B.C. legislature blocked as pipeline protests flare across Canada
VICTORIA - Hundreds of protesters blocked the entrances to the British Columbia legislature on Tuesday as demonstrations in support of Indigenous hereditary chiefs who oppose a pipeline project continued to flare across the country. Protesters, who have been camping outside the legislature since Friday, hollered "Shame" as politicians tried to enter the building with help from security and others chanted "Shut down Canada" and "Stand up, fight back." Demonstrations have sprung up across [Read more]
7500 barrels of oil spilled in Saskatchewan train derailment
GUERNSEY, Sask. - The Saskatchewan government says about 7500 barrels of oil were spilled during a fiery train derailment in Saskatchewan last week. The province's ministry of environment says the amount of oil recovered is still being determined, as a significant portion was burned off. Thirty-two of the train's 104 cars derailed and a dozen caught fire on Thursday near Guernsey, southeast of Saskatoon. In response, the federal government ordered lower speed limits for all trains [Read more]
Montreal-area train line shut down as groups support B.C. pipeline protesters
MONTREAL - Commuter trains have been shut down for a second day on a train line near Montreal as supporters of a pipeline protest in northwestern British Columbia maintain their presence on the tracks. Officials at Exo, which runs the commuter trains in the Montreal area, announced early Tuesday that morning trains were cancelled. The blockade is being maintained by members of the Kahnawake Mohawk community just south of Montreal. Supporters of Wet'suwet'en hereditary chiefs, who are [Read more]
Oil rebounds amid broad market recovery; investors still wary
Oil prices rose more than 1% on Tuesday in sympathy with a rally in equity markets but investors remained jittery over the Wuhan virus that has now killed over 1,000 in China. U.S. West Texas Intermediate was up 73 cents, or about 1.4%, at $50.34 a barrel. Brent crude rose 87 cents, or 1.6%, to $54.26 a barrel by 0428 GMT, retreating from an intraday high of $54.13. "A broad positive sentiment across Asia markets seems to have boosted crude oil prices," Margaret Yang, market analyst [Read more]
Column: Thar she blows! Canada’s well-fed climate-emergency chickens are coming home to roost and it’s going to get ugly
It’s showtime, everybody. Anyone that’s spent much time observing the ever-more bonkers climate dialogues has suspected a day of reckoning would come when the irresistible force/fear of climate change meets the immovable object of people trying to live their lives. It looks like we’re here; get ready to watch the fireworks. For the past several years, climate activists have become ever more emboldened because no one has made any effort to slow their progress. In fact, the opposite has [Read more]
Quorum Software presents the 2020 CAPL/CAPLA Spring Networking event featuring speaker hockey legend Lanny McDonald! Register today
CAPL/CAPLA Spring Networking Presented by Quorum Thursday, March 5, 2020 Time: 16:30 – 21:00 Location: The Metropolitan on Stephen Ave, 317 7th Ave SW Join us for the CAPL/CAPLA Spring Networking event and hear from local hockey legend, Lanny McDonald. Tickets: $50 members/ $100 non-members *include 2 drink tickets and food Space is limited, register today: https://landman.ca/event/2152 Schedule: 4:30 – 5:30 pm Registration & Networking 5:30 – 6:00 pm [Read more]
Australia’s Woodside flags $483 mln charge on Kitimat assets in Canada
Australia's Woodside Petroleum said on Tuesday it will record a A$720 million ($483.41 million) charge in its fiscal 2019 results in relation to Kitimat liquefied natural gas assets in Canada. Woodside said in September it would scale down its investment in the Canadian project to reduce capital expenditure. Woodside owns 50% of the Kitimat project, that is operated by Chevron (CVX.N). The U.S. oil and gas major reported a large fourth-quarter loss last month as it took around $10 billion [Read more]
International Petroleum Corporation 2019 Year-End Financial Results and 2020 Budget, Production and Resource Guidance
International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the year ended December 31, 2019.(1) IPC is also pleased to announce its 2020 capital expenditure budget of USD 149 million and its 2020 production guidance of between 46,000 and 50,000 barrels of oil equivalent (boe) per day (boepd).(2) 2019 year-end proved plus probable (2P) reserves and [Read more]
Heavy discount narrows as rail restrictions seen as limited
Canadian heavy crude's discount versus U.S. benchmark West Texas Intermediate (WTI) crude narrowed on Monday, as traders said the impact of new rail restrictions was likely to be limited. Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, settled at $16.75 per barrel below WTI, according to NE2 Canada Inc, slightly narrower than Friday's settle of $18.05 under. Canada said last week it would impose temporary speed limits on trains hauling dangerous goods [Read more]