CALGARY - Shares in Canadian pipeline companies Enbridge Inc. and TransCanada Corp. are recovering from a steep sell-off Thursday after the U.S. eliminated a tax break for owners of certain interstate pipelines. Both Calgary-based companies hold such pipelines in the United States through master limited partnerships or MLPs. The decision by the U.S. Federal Energy Regulatory Commission came in response to an earlier court ruling that found its long-standing tax policy could [Read more]
Headlines
Trans Mountain granted injunction against pipeline protesters at two B.C. sites
VANCOUVER - Protesters must be restrained from obstructing the expansion of the Trans Mountain pipeline, says a British Columbia Supreme Court judge who has granted the company an injunction aimed at preventing people from entering within five metres of two work sites. Justice Kenneth Affleck said Thursday he felt it necessary to make a decision on the second day of a hearing instead of issuing a written order involving outraged demonstrators who have blocked vehicles and workers at the [Read more]
Ottawa ‘determined’ to see Trans Mountain pipeline expanded: minister
VANCOUVER - Canada's natural resources minister says Ottawa is determined to see the Trans Mountain pipeline expanded, despite an interprovincial dispute on whether the project should go ahead. Jim Carr said the federal government approved the project because broad consultations determined it was in the national interest and will help facilitate a transition to clean energy. "Our plan is to use this time of transition to Canada's advantage by building the infrastructure to get [Read more]
Enbridge Inc. does not expect a material consolidated financial impact as a result of FERC Revised Policy Statements
CALGARY, March 16, 2018 /CNW/ - Enbridge Inc. (Enbridge or the Company) (TSX:ENB) (NYSE:ENB) today stated that it does not expect a material impact to its previously disclosed financial guidance over the 2018-2020 horizon as a result of the Federal Energy Regulatory Commission (FERC) revised policy statement on interstate pipeline tax allowance recovery in Master Limited Partnerships (MLPs) nor from FERC's Notice of Proposed Rule-Making (NOPR). Spectra Energy Partners LP (SEP) does not [Read more]
Private oil and gas company is in the market for drilling-ready prospects
A private company with existing operation in Alberta is seeking for drilling-ready prospects for its 2018 drilling program. Medium-light oil, relatively shallow, high working interest and large inventory of locations are preferred. Transaction could be done in cash or GOR. Interested party please send email to 2018drilling@gmail.com and the company information will be provided in person. [Read more]
Zargon Oil & Gas Ltd. Provides 2017 Fourth Quarter and Full Year Financial Results
CALGARY, Alberta, March 15, 2018 (GLOBE NEWSWIRE) -- Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) (TSX:ZAR) (TSX:ZAR.DB.A) has released its 2017 fourth quarter and full year financial results. Previously, Zargon provided 2017 year end reserves, production updates and 2018 H1 production/capital guidance in our February 12, 2018 and November 13, 2017 press releases. Highlights from the fourth quarter and year ended Dec. 31, 2017 are provided below: HIGHLIGHTS FROM THE [Read more]
Spartan Energy Corp. Announces 2017 Fourth Quarter and Year End Results and Announces Share Repurchase Program
CALGARY, Alberta, March 15, 2018 (GLOBE NEWSWIRE) -- Spartan Energy Corp.("Spartan" or the "Company") (TSX:SPE) is pleased to report its financial and operating results for the fourth quarter and year ended December 31, 2017. Selected financial and operational information is set out below and should be read in conjunction with Spartan's December 31, 2017 audited annual financial statements and the related management’s discussion and analysis (“MD&A”). The financial statements and MD&A [Read more]
Global oil demand picks up but still lags rising supply: IEA
LONDON (Reuters) - Global oil demand is expected to pick up this year but supply is growing at a faster pace, leading to a rise in inventories in the first quarter of 2018, the International Energy Agency (IEA) said on Thursday. The IEA raised its forecast for oil demand this year to 99.3 million barrels per day (bpd) from 97.8 million bpd in 2017. Commercial oil inventories in industrialized OECD nations rose in January for the first time in seven months to 2.871 billion barrels, 53 [Read more]
Canadian Natural Resources Limited Announces Intention to Institute a Normal Course Issuer Bid
CALGARY, Alberta, March 14, 2018 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited (the "Corporation") announced today its intention, subject to regulatory approval, including the approval of the Toronto Stock Exchange ("TSX"), to purchase for cancellation up to 61,295,086 of its common shares (representing 5% of the common shares as at March 13, 2018) through a normal course issuer bid (the “NCIB”). The Corporation is currently engaged in a normal course issuer bid, which commenced May 23, [Read more]
CTF: Free pass for foreign oil costs taxpayers billions
CALGARY, AB: The Canadian Taxpayers Federation (CTF) released documents obtained from the federal government through Access to Information that show foreign oil is getting a free emissions pass from the federal government – one that is costing taxpayers billions of dollars. In August 2017, the federal government decided to change the rules halfway through the Energy East pipeline review by requiring the project to go through an “upstream and downstream emissions review.” TransCanada cancelled [Read more]