Irving Oil Corp's Saint John refinery in the Canadian province of New Brunswick was shut on Monday morning after a fire, with local media photos showing smoke billowing from the complex. The company said it was dealing with a "major incident" at the 320,000 barrel-per-day refinery. Local residents reported hearing an explosion and seeing a fire, according to local media. This happening right now, massive explosion and fire at Irving oil refinery. pic.twitter.com/tucyb5K65S— Ian [Read more]
Headlines
Velvet Offer for Iron Bridge Resources Expires
87.73% of Iron Bridge common shares tendered Velvet Offer for Iron Bridge Resources expires Velvet sets shareholder meeting to approve final acquisition transaction CALGARY, Alberta, Oct. 05, 2018 (GLOBE NEWSWIRE) -- Velvet Energy Ltd. ("Velvet") and Iron Bridge Resources Inc. (TSX: IBR) ("Iron Bridge") today announced that Velvet's amended $0.845 per share all cash offer has expired, and that a total of approximately 87.73% of Iron Bridge common shares equating to approximately [Read more]
Regulator picks 98 interveners for new Trans Mountain pipeline hearing
CALGARY - The National Energy Board says it has granted intervener status to 98 applicants for an upcoming hearing to reconsider approval of the Trans Mountain pipeline expansion project. The NEB says it received 123 applications to participate by the deadline and rejected 25 of them. It says 75 applicants were interveners in previous hearings and 23 are considered new applicants. The list includes the cities of Vancouver, Victoria and Burnaby; Indigenous groups from Alberta and B.C.; [Read more]
Canada Weekly Rig Count Up 4 to 182
Western Canada’s fleet of drilling rigs decreased to a total of 182 according to data collected by Baker Hughes for the week of October 5th. From one week ago, Alberta rig counts returned to 126 after declining to 110 from the week before. Saskatchewan's rig count decreased from 48 to 33. Oil drilling went from 122 to 119; natural gas rigs increased from 56 to 63. View a full breakdown of western Canada’s rig activity. [Read more]
ConocoPhillips Announces Increase in Quarterly Dividend
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced a quarterly dividend of 30.5 cents per share, an increase of 7 percent, payable Dec. 3, 2018, to stockholders of record at the close of business on Oct. 15, 2018. “Today’s dividend action is consistent with our strong operational performance, our focus on margin and cash flow expansion, and our commitment to a differentiated returns-focused value proposition, under which we return a substantial percentage of our cash flows [Read more]
U.S. oil drillers cut rigs for third week in a row
The U.S. oil drilling rig count fell for a third consecutive week even though crude prices hit four-year highs this week, as rising costs and pipeline bottlenecks in the nation's largest oil field have hindered new drilling since June. Drillers cut two oil rigs in the week to Oct. 5, bringing the total count down to 861, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. This is the longest streak of weekly cuts since October last [Read more]
Baker Hughes, a GE company Announces September 2018 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for September 2018 was 1,004, down 4 from the 1,008 counted in August 2018, and up 73 from the 931 counted in September 2017. The international offshore rig count for September 2018 was 204, down 8 from the 212 counted in August 2018, and up 14 from the 190 counted in September 2017. The average U.S. rig count for September 2018 was 1,053, up 3 from the [Read more]
What B.C.’s LNG megaproject means for two proposed Nova Scotia facilities
HALIFAX - Some see it as a signal of investor confidence in liquefied natural gas megaprojects. Others say it could edge out less competitive LNG proposals in Canada. Either way, final approval of a massive LNG project in northern British Columbia has renewed interest in the fate of two projects slated for Canada's East Coast. Bear Head LNG, a subsidiary of Australia-based Liquefied Natural Gas Ltd., has a site on the Strait of Canso while Goldboro LNG, a Pieridae Energy Canada project, is [Read more]
Saskatchewan files for intervener status in Ontario carbon tax court challenge
SASKATOON - The premiers of Saskatchewan and Ontario say they'll remain united against the federal government's carbon tax plan and are pleased that another province is joining the fight. Ontario's Doug Ford and Scott Moe from Saskatchewan say Manitoba's decision to scrap its own plan to put a price on carbon shows that opposition against the federal tax is gaining momentum. Manitoba Premier Brian Pallister announced on Wednesday that his province will not be going ahead with a $25-a-tonne [Read more]
Talks to manage offshore Arctic drilling may signal end of ban: NWT premier
YELLOWKNIFE - The federal government is opening talks with northerners on managing offshore energy exploration in the Canadian Arctic, a move some hope signals a coming relaxation of the current ban on potential development. "I would hope that's the case," said Northwest Territories Premier Bob McLeod. "We'll see as we negotiate. I certainly am feeling very optimistic." Northern Affairs Minister Dominic Leblanc and Natural Resources Minister Amarjeet Sohi announced Thursday that Ottawa [Read more]