RED DEER, Alta. - Alberta's United Conservative leader Jason Kenney says he hasn't read and won't speak to the policy resolutions to be debated at his party's founding policy convention this weekend. But he says if he gets a mandate to fight carbon taxes he'll use it immediately when he speaks to the federal carbon tax bill before a House of Commons committee on Monday. About 2,300 delegates will vote on up to 250 policy resolutions this weekend in Red Deer. The proposals include [Read more]
Headlines
Investors reject dissident slate but say-on-pay vote fails at Crescent Point
CALGARY - The CEO of Crescent Point Energy Corp. is vowing to work harder to address complaints after shareholders rejected four dissident directors at its annual meeting on Friday, but refused to support the company's approach to executive pay. Scott Saxberg acknowledged that the Calgary-based company has faced questions for years from investors critical of its spending, debt levels, executive pay and share performance, but insisted it has already made changes and is willing to do [Read more]
Canada has options to bolster competitiveness without corporate tax cuts
OTTAWA - In its search for ways to blunt threats to Canadian competitiveness, the federal government could avoid the pricey move of cutting corporate taxes by turning to an increasingly discussed option: allowing all companies to immediately write off new equipment purchases. For months, the Liberal government has been under pressure from corporate Canada to respond to a U.S. tax overhaul that many fear will lure business investment south of the border. The Trump administration's changes [Read more]
AltaGas Ltd. and WGL Holdings, Inc. Announce a Settlement in Principle with Key Stakeholders in Washington D.C.
CALGARY, May 4, 2018 /CNW/ - Today, AltaGas Ltd. (AltaGas) (TSX:ALA) and WGL Holdings, Inc. (NYSE: WGL) (WGL) announced that they have reached a settlement in principle with key stakeholders in Washington D.C., including the Government of the District of Columbia, the Office of the People's Counsel, the Laborers' International Union of North America, its affiliated District Council, and Local Unions serving or located in Washington D.C. (collectively, LiUNA), the United States Department of [Read more]
U.S. drillers add oil rigs for fifth straight week
(Reuters) - U.S. energy companies added oil rigs for a fifth week in a row as they follow through on plans to spend more on drilling this year with higher crude prices boosting their profits and pushing nationwide production to record highs. Drillers added nine oil rigs in the week to May 4, bringing the total count to 834, the highest level since March 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. More than half the total oil [Read more]
Keystone pipeline ruling expected to help further reduce heavy oil discount
CALGARY - A regulator's lifting of pressure restrictions on the Keystone oil pipeline in the United States earlier this week is expected to help reduce discounts being paid for Western Canadian heavy crude. Matthew John, spokesman for Calgary-based pipeline owner TransCanada Corp., says the order was limited to a small part of the pipeline following a leak in November in South Dakota and therefore the company doesn't expect big increases in volume. He says he can't be specific because the [Read more]
Oil strong as U.S. decision on Iran sanctions looms
LONDON (Reuters) - Oil prices strengthened on Friday but stayed below recent highs as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. U.S. light crude was 30 cents higher at $68.73. Brent crude oil was up 30 cents at $73.92 a barrel by 1110 GMT. The benchmark contract hit a 3-1/2 year closing high of $75.17 on Monday. “The energy complex is entering a consolidation phase as a wait-and-see approach takes hold ahead of [Read more]
Canada’s 1st Virtual Oil and Gas Expo Partners with Shell
Show Dates May 8th and 9th 2018 View their official show program to see what is in store May 8th and 9th Have you pre-registered to attend the event of the year? Click here to pre-register Welcome to Industry Connect – Canada’s Virtual Oil & Gas Expo brought to you by 5 Star Media Group and Shell We are so pleased to welcome you all to the SOLD-OUT Industry Connect! We have a full two days planned for you, and the best part is you can experience everything on your own [Read more]
Advantage Announces First Quarter 2018 Operating & Financial Results
Solid Cash Flow, Strong Well Results and Glacier Gas Plant Expansion Advances Liquids Development Strategy (TSX: AAV, NYSE: AAV) CALGARY, May 3, 2018 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to report strong cash flow of $48.9 million ($0.26/share) and net income of $10.1 million ($0.05/share) during the first quarter of 2018. Cash flow was supported by the Corporation's proactive marketing strategy which included $18.1 million from hedging gains and [Read more]
Federal Liberals confirm plans to intervene in B.C.’s Trans Mountain court case
OTTAWA - The federal government will intervene in British Columbia's reference case over the $7.4-billion Trans Mountain pipeline expansion, Justice Minister Jody Wilson-Raybould said Thursday. The case filed in the B.C. Court of Appeal asks if the province has jurisdiction to regulate the transport of oil through its territory, a key question in the political battle over the project. Wilson-Raybould said Ottawa's view will prevail. "We are confident in Parliament's jurisdiction and [Read more]