EDMONTON - Alberta Premier Rachel Notley says the province will buy the Trans Mountain oil pipeline project if that's what it takes to get it built. "We are considering a number of financial options to ensure that the Trans Mountain expansion is built, up to and including purchasing the pipeline outright if were to come to that," Notley said in the statement Tuesday. "But it is not the only model we're considering. "Obviously the best interest and outcomes for Albertans will be front and [Read more]
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Relentless Resources announces appointment of management team for cannabis operations and option grants
TSX-Venture Exchange: RRL - CALGARY, April 11, 2018 /CNW/ - Relentless Resources Ltd. ("Relentless" or the "Company") is pleased to announce the appointment of four new officers of the Company. Effective as of April 11, 2018, Relentless appointed Stanley J. Swiatek as Chief Executive Officer, Craig Kolochuk as President, Jeff Swainson as Chief Financial Officer and Tara Johnson-Ouellette as Vice President, Compliance and Regulatory Affairs. Mr. Swiatek is the former Chief Executive Officer [Read more]
Cushing’s oil market clout wanes amid U.S. export boom
The volume of oil sitting in 300 steel tanks in a nine-square-mile radius in Cushing,Oklahoma has long been a key barometer for the health of U.S.crude supply and the nation's benchmark for daily trading of billions of dollars in the commodity. But those tanks could soon drain to levels near effectively empty, even as U.S. oil production soars past a new record of 10.4 million barrels per day. Oil supplies have fallen before in Cushing for a variety of seasonal or market-driven reasons. [Read more]
Fuelled announces agreement with a major energy producer to sell surplus oil and gas equipment
Calgary-based energy marketplace also announces new Fuelled Certified screening program CALGARY, April 10, 2018 /CNW/ - Today, Fuelled, Canada's largest energy equipment marketplace, announced agreements with Encana and Obsidian Energy to act as the primary sales agent for each organization's surplus oil and gas equipment. These agreements will allow Encana and Obsidian Energy to sell their surplus equipment globally, with an ease and efficiency of an ecommerce model. Fuelled, which [Read more]
Construction & Weather Challenges Don’t Slow Installation Of Oil Sands Process Pond
Christina Lake in Alberta is rich with oil so deep underground that specialized technology is required to drill and pump it to the surface. As part of the oil extraction at this site operated by Cenovus Energy, a 21,000 cubic meter capacity process pond was planned to contain the process water. Original Design The process pond original design included a protective cover system on the 3H:1V slopes with an emulsified asphalt layer over a Tensar BX geogrid. However, questions related to [Read more]
Horgan says Alberta legislation to raise gas prices in B.C. ‘provocative’
VICTORIA - Premier John Horgan says he's concerned and surprised that Alberta's latest move in an escalating pipeline feud is legislation that could drive up British Columbia's already sky-high gas prices. Alberta's New Democrat government served notice Tuesday of plans to introduce legislation that Premier Rachel Notley has said will give the province the power to reduce oil flows and likely prompt a spike in gas prices in B.C. Motorists in Metro Vancouver currently pay more than $1.50 a [Read more]
Investors back Kinder Morgan Canada’s Trans Mountain move
Kinder Morgan Canada shareholders on Tuesday backed the pipeline operator's decision to pause most work on its Trans Mountain expansion as away to force the Canadian government to give final approval for the project. The company said on Sunday it would scrap plans to nearly triple the capacity of its existing Trans Mountain pipeline, which extends from Alberta to British Columbia's coast, unless various legal and jurisdictional challenges could be resolved by May 31. The project was [Read more]
Saskatchewan sees smaller fiscal deficit as spending kept tight
Saskatchewan, home to major potash and uranium reserves, said on Tuesday it would run a smaller deficit in the current fiscal year and balance its books in 2019-20 as it keeps a tight lid on spending despite projected higher commodity prices. Saskatchewan, which has endured a slump in its resource revenues in recent years, projected a $365 million deficit for 2018-19, which follows a $595 million deficit forecast for the fiscal year that ended on March 31. The 2018-19 projection does not [Read more]
Pro Trans Mountain rallies planned later today in Calgary and Thursday in Edmonton
Later today (4pm) there will be a rally at Calgary's McDougall Centre. A large group of grassroots supporters will be in attendance asking the federal government to follow through on their promises to get the Trans Mountain pipeline built. On Thursday, a similar rally will be held in front of the Alberta Legislature in Edmonton. See details below: Rally details for Calgary (McDougall Centre): Where: 455 6 St SW, Calgary, AB, Calgary, AB When: Tuesday, April 10, 2018 (TODAY) at 4:00 [Read more]
Devon Energy will lay off 9 percent of staff to boost returns
HOUSTON (Reuters) - Devon Energy Corp said on Tuesday it would lay off 300 workers, roughly 9 percent of staff, part of a plan to streamline operations and boost the shale oil producer’s sagging returns and stock price. The cuts will affect all areas of the company’s operations, not just its Oklahoma City headquarters. Staff will be let go “in the weeks ahead,” Devon said in a statement. Devon, like many of its shale peers, has come under pressure from Wall Street in recent months to focus [Read more]