CALGARY, May 7, 2018 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") (TSX: IPL) announced strong financial and operating results for the three month period ended March 31, 2018. First Quarter Highlights Funds from operations (FFO) totalled $254 million, a three percent increase over first quarter 2017 Net income for the quarter was a record $143 million Declared cash dividends of $160 million, or $0.42 per share Attractive quarterly payout ratio* of 63 percent NGL processing [Read more]
Headlines
Two B.C. Indigenous leaders plan to speak at Kinder Morgan pipeline AGM
VANCOUVER - Two Indigenous leaders from British Columbia say they will travel to pipeline builder Kinder Morgan's annual general meeting in Texas this week. Chief Judy Wilson with the Neskonlith Indian Band and Rueben George representing the Tsleil-Waututh Nation Sacred Trust Initiative say they intend to warn investors about the risk of proceeding with Kinder Morgan's Trans Mountain pipeline expansion without consent from First Nations. A news release from the Union of British Columbia [Read more]
Airplane and oil deals at risk in Trump pullout of Iran deal
DUBAI, United Arab Emirates - From airplanes to oilfields, billions of dollars are on the line for international corporations as President Donald Trump weighs whether to pull America out of Iran's nuclear deal with world powers. Regardless of where they are headquartered, virtually all multinational corporations do business or banking in the U.S., meaning any return to pre-deal sanctions could torpedo deals made after the 2015 agreement came into force. That threat alone has been enough to [Read more]
Baker Hughes Announces Global April 2018 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for April 2018 was 978, up 6 from the 972 counted in March 2018, and up 22 from the 956 counted in April 2017. The international offshore rig count for April 2018 was 194 up 6 from the 185 counted in March 2018, and down 7 from the 201 counted in April 2017. The average U.S. rig count for April 2018 was 1,011, up 22 from the 989 counted in March 2018, and [Read more]
The theatre of the absurd – blocking petroleum from getting to market is like blocking a river with a fishing net
There is, in the public arena today, an effort or desire to "do good" with respect to environmental concerns that is, to a certain extent, so sincere and heartfelt that it is almost heartbreaking to point out how futile these efforts are. It’s as though you saw a child trying to revive a dying pet fish with ice cream. This is a reference to those trying to solve global warming by limiting the movement of fossil fuels. I’m being far more generous than many in the oil patch would in ascribing [Read more]
Alberta conservatives vote to end carbon tax, tell parents if child joins GSA
RED DEER, Alta. - Alberta's United Conservative party delegates have voted to pursue ending the carbon tax, and to have parents told if their child joins a gay-straight alliance at school. The delegates, at their founding convention in Red Deer, voted 98 per cent to end the government's carbon tax on gasoline and home heating fuels. Party leader Jason Kenney has said the tax punishes Albertans with no benefit to the environment, and has already said the first job of his government would be [Read more]
‘A warrior by heart:’ Indigenous people enlisted to monitor pipelines
CALGARY - Gerald Scott's perspective has shifted since he spent 10 days on the Standing Rock Sioux reservation in North Dakota which — until early last year — was the site of months of high-profile protests against the Dakota Access oil pipeline. Scott, who is from the Swan Lake First Nation in Manitoba, wanted to take a stand against what he saw as trampling of Indigenous rights. "I'm a warrior by nature. I'm a warrior by heart." Scott has since focused his fight on making pipelines [Read more]
Toscana Energy Announces First Quarter 2018 Results
CALGARY, Alberta, May 04, 2018 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("TEI" or the "Corporation") (TSX:TEI) announces financial and operating results for the first quarter ended March 31, 2018. Financial and operating results: This news release summarizes information contained in the Condensed Consolidated Interim Financial Statements (unaudited) and Management’s Discussion and Analysis (“MD&A”) for the three-month period ended March 31, 2018. This news release should not [Read more]
Jason Kenney declares war on “green left” in speech to conservative party
RED DEER, Alta. - United Conservative Leader Jason Kenney, in a fiery speech to party members, is promising an all-out attack on the "green left" and those who secretly fund and support the demonization of Alberta's oil. "The special interests have targeted Alberta oil and not Saudi, Venezuelan, or Russian oil because they saw us as the boy scouts, the soft target," Kenney told about 3,000 delegates and observers in his keynote speech at the party's founding convention Saturday night. "If [Read more]
Canada Weekly Rig Count Up 1 to 86
Western Canada’s fleet of drilling rigs went up 1 to 85 according to data collected by Baker Hughes for the week of May 4th. From one week ago, Alberta rig counts increased from 67 to 68 Saskatchewan's rig count remained at 3. Oil drilling went from 33 to 37; gas rigs went from 52 to 49. View a full breakdown of western Canada’s rig activity. [Read more]