VICTORIA - British Columbia's attorney general is calling Alberta's proposed fuel restriction law a "bluff" that will result in an immediate lawsuit from his province and likely lawsuits from oil companies. David Eby says their experts have looked at the Alberta legislation tabled yesterday and conclude it's unconstitutional and against the law. He says he believes the legislation was intended to never be adopted, but if Premier Rachel Notley's government does pass the law, then B.C. will [Read more]
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Saskatchewan premier says his province will also table oil ban bill
EDMONTON - Premier Scott Moe says Saskatchewan will join Alberta in a fight with B.C. over the Trans Mountain pipeline expansion by introducing its own legislation on oil exports. Moe says his government will bring in a bill in the coming days that could result in less oil moving to British Columbia. "We do ship some energy products to British Columbia but not a huge amount. The majority of the energy products that are shipped to British Columbia come from Alberta," said Moe in [Read more]
Alberta move to cut fuel shipments to B.C. has ‘downsides,’ refiners say
CALGARY - A spokesman for refiners in Western Canada says any move by the Alberta government to shut off the flow of refined fuel to British Columbia might increase prices for consumers there but it would also negatively affect Alberta's four refineries. Brian Ahearn, regional vice-president for the Canadian Fuels Association, says about 25 per cent of the gasoline, diesel, jet fuel and other products produced at the Edmonton-area refineries goes to B.C. He says the loss of that market [Read more]
Clearview Resources Ltd. Announces Completion of Acquisition of Bashaw Oil Corp. and Management Changes
CALGARY, Alberta, April 16, 2018 (GLOBE NEWSWIRE) -- Clearview Resources Ltd. (“Clearview”) is pleased to announce that it has completed the acquisition of Bashaw Oil Corp. (“Bashaw”) by way of an amalgamation of Bashaw with a newly incorporated subsidiary of Clearview (proposed acquisition was previously announced March 28, 2018). Pursuant to the amalgamation, Clearview issued 1,560,046 voting common shares to the shareholders of Bashaw in exchange for the cancellation of their common shares of [Read more]
As the Alberta government moves forward to mitigate the financial risks of the Kinder Morgan expansion, it is also moving on the second phase of the Petrochemicals Diversification Program
$500 million in loan guarantees and grants have been offered to create a Petrochemical Feedstock Infrastructure Program, a program that is creating a fertile environment for Midstream development in Alberta. Where will it take us? In this atmosphere of opportunity, midstream business is taking on new dimensions and how are these new business arrangements adequately captured in legal documents and commercial agreements? Join us for a presentation on “Recent Developments in Western [Read more]
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Energy shippers nervous about Alberta plan to control oil and gas exports
CALGARY - Oil shippers are reacting with trepidation to legislation the Alberta New Democrats introduced Monday that would give the government power to restrict energy exports from the province. Canadian Energy Pipeline Association president Chris Bloomer said he understands the Alberta government needs to act on the impasse with British Columbia over Kinder Morgan's Trans Mountain pipeline project, but is worried about the potential consequences of the bill. "We are concerned that the [Read more]
‘A clear message:’ Alberta proposes legislation to limit oil shipments
EDMONTON - The Alberta government has introduced legislation that would give the energy minister power to restrict the flow of oil, gasoline and natural gas leaving the province. Once passed, Marg McCuaig-Boyd would be able to direct truckers, pipeline companies and rail operators on how much product could be shipped and when. Violators would face fines of up to $1 million a day for individuals and $10 million a day for corporations. "The bill sends a clear message: we will use every tool [Read more]
First Nations and cities double down on pipeline opposition
VANCOUVER - Several First Nations and the cities of Vancouver and Burnaby have joined together to redouble their opposition to the expansion of the Trans Mountain pipeline. Burnaby Mayor Derek Corrigan says the expansion project "short circuits" the legal process and civil disobedience against the pipeline it will only continue to grow. Corrigan says he's embarrassed that Canada's prime minister and a premier of our country are kowtowing to an American multinational oil company that isn't [Read more]
U.S. shale output to rise by 125,000 bpd in May
NEW YORK (Reuters) - U.S. shale oil production is expected to increase in May for the fourth consecutive month, U.S. Energy Information Administration data showed on Monday, boosted by record production in the prolific Permian Basin of West Texas and New Mexico. Total oil output is set to rise by 125,000 barrels per day (bpd) to 7 million bpd, the EIA said in its monthly drilling productivity report here#tabs-summary-2. Production in the Permian Basin is expected to jump by 73,000 bpd to [Read more]