VICTORIA - Premier John Horgan says price gouging, not higher taxes, is responsible for skyrocketing gasoline prices in British Columbia. Horgan says the price per litre rose nine cents between Tuesday night and Wednesday morning and that suggests fuel companies are seeking bigger profits. He says there's a disconnect between the price of a barrel of oil and the price at the pumps and he's raised the issue of gouging with the federal government. Opposition Liberal Leader Andrew [Read more]
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Trump to OPEC: ‘Reduce pricing now!’: Twitter
WASHINGTON (Reuters) - U.S. President Donald Trump again accused the Organization of Petroleum Exporting Countries of driving gas prices higher on Twitter on Wednesday and urged the oil cartel’s members to do more. “The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!” Trump wrote on [Read more]
Marksmen Announces Administrative and Operational Updates
CALGARY, Alberta, July 04, 2018 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) and its wholly owned subsidiary Marksmen Energy USA, Inc. announces the following: Administrative Updates On June 28th a debenture holder exercised 1,250,167 warrants at price of $0.17 for proceeds of $212,528.39 entitling the warrant holder to receive one Marksmen common share per warrant. Marksmen issued a share certificate for 1,250,167 fully paid common shares to the debenture holder [Read more]
Syncrude site takes step toward restarting, but timetable unchanged
The Syncrude oil sands site in northern Alberta is commissioning its steam systems, taking an important step toward restarting, its majority owner Suncor Energy Inc said on Wednesday. The facility, which can produce up to 360,000 barrels per day of crude oil, was hit by a power outage last month and was expected to remain down through July. There was no update on timing of restarting production, said Suncor spokeswoman Sneh Seetal. [Read more]
Canadian crude-by-rail exports rise to record high in April, NEB reports
CALGARY - The National Energy Board says crude-by-rail exports from Canada grew to a record 193,500 barrels per day in April, up 13 per cent from the previous month, as full pipelines forced more producers to use trains to get their products to market. The oil shipping tally beat the previous record of nearly 179,000 bpd in September 2014 and was well ahead of the 150,000 bpd moved in April 2017. Andrew Botterill, a partner with accounting firm Deloitte, says he expects rail shipments will [Read more]
Enbridge Announces Sale of Canadian Natural Gas Gathering & Processing Businesses for $4.31 Billion
CALGARY, July 4, 2018 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) today announced that it has entered into definitive agreements to sell its Canadian natural gas gathering and processing business in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia (B.C.) and Alberta (the "G&P Business") to Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) and its institutional partners (collectively, "Brookfield") for a cash purchase price of [Read more]
PetroShale Announces Senior Credit Facility Increase and Annual Shareholder Meeting Results
CALGARY, July 4, 2018 /CNW/ - PetroShale Inc. ("PetroShale" or the "Company") (TSXV: PSH, OTCQX: PSHIF) is pleased to announce that the borrowing capacity under its senior credit facility has been increased to US$82.0 million from US$49.9 million following a review of the Company's December 31, 2017 reserve report by its senior lenders. The credit facility's maturity date was also extended to June 30, 2019, at which time it may be either further extended or, at the option of the lenders, [Read more]
Utica Resources Announces Offer to Acquire Junex Inc.
MONTREAL, July 4, 2018 /CNW/ - Utica Resources Inc. ("Utica") today announced that it has delivered to the Special Committee of the Board of Directors of Junex Inc. ("Junex") an offer (the "Offer") to acquire all of the outstanding common shares of Junex (the "Junex Common Shares"). Pursuant to the Offer, each shareholder of Junex would have the option to receive, for each Junex Common Share held, either (a) $0.42 in cash (the "Cash Option") or (b) $0.40 in cash plus a contingent value right [Read more]
Vertex Resource Group Ltd. Acquires Edmonton Hydro-Vac Company
Acquisition Doubles Vertex’s Fleet of Hydro-Vac Units & Expands Hydro-Vac Service Offering into the Edmonton Region Sherwood Park, Alberta, July 3, 2018 (TSX.V:VTX) - Vertex Resource Group Ltd. (“Vertex”) is pleased to announce that it has acquired the business of a private company providing hydro-vac services to the Edmonton, Alberta region in a transaction valued at $4.3 million. This acquisition will double Vertex’s hydro-vac fleet with the addition of 11 hydro-vac units servicing [Read more]
Trans Mountain outlines construction plans for next six months in Alberta, B.C.
VANCOUVER - Trans Mountain has filed a six-month construction schedule with the National Energy Board for the expansion of its Alberta-to-B.C. pipeline. The company says work has been underway since last fall at the Westridge Marine Terminal in Burnaby, B.C., and will continue along with additional work in the Lower Mainland. It says it will begin this month to develop the Westridge Marine Terminal tunnel portal at Burnaby Mountain and relocate existing infrastructure to expand [Read more]