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Fort St. John
Monday, December 10, 2018
Tel: 250-787-7100
Email: contact@energeticcity.ca
9924 101 ave Fort St. John, B.C.
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B.C. chief says one major oil spill could ruin her nation’s economy forever

OTTAWA - Leaders from several north-coast B.C. First Nations say if the Senate doesn't approve a bill barring super-sized oil tankers from the region their fragile but thriving marine-based economies will die. The legislation would put into law an existing moratorium on tankers carrying more than 12,500 tonnes of crude oil in the waters between the northern tip of Vancouver Island...

Enbridge sells distribution business in N.B. to Algonquin Power and Utilities

CALGARY, A.B. - Enbridge Inc. has signed a deal to sell its natural gas distribution business in New Brunswick to Algonquin Power and Utilities Corp. for $331 million in cash. Enbridge Gas New Brunswick operates and maintains more than 1,200 km of natural gas distribution pipeline in 12 communities in New Brunswick with 12,000 customers. The company says employees, customers, partners...

Shares in Cenovus, Canadian Natural soar on Alberta crude production cuts

CALGARY, A.B. -  Shares in oilsands companies most likely to benefit from Alberta's move to curtail crude production starting Jan. 1 are soaring in the wake of Sunday's announcement by Premier Rachel Notley. In early trading Monday morning, Cenovus Energy Inc. rose as much as 13 per cent over its Friday close to $11.11, while Canadian Natural Resources Ltd. rose...

B.C. First Nation to present oral evidence about Trans Mountain expansion impact

NANAIMO, B.C. - The Tsleil-Waututh Nation will be presenting Indigenous oral traditional evidence to the National Energy Board at a hearing in Nanaimo, B.C. A news release says the board is hearing new evidence about the environmental effects of Trans Mountain pipeline expansion including adverse effects of shipping to species at risk such as southern resident killer whales. The traditional oral...

Suncor assessing impact of Alberta’s move to cut oil production next year

CALGARY, A.B. - Suncor Energy Inc. says it's assessing the impact of the Alberta government's move to curtail oil production next year. The company says the specific impact of the production cut will be provided when it issues its 2019 capital and production guidance. The Alberta government announced a plan Sunday to impose across-the-board oil production cuts to reduce a glut...

Alberta orders oil production cut to deal with price differential

EDMONTON, A.B. - Alberta Premier Rachel Notley is ordering a mandatory cut in oil production to deal with a price crisis that she says is costing Canada an estimated $80 million a day. Notley says as of January there will be an 8.7 per cent reduction ordered in oil production. Output of raw crude oil and bitumen will be reduced by...

Notley to announce next steps for dealing with oil backlog on Sunday

EDMONTON, A.B. - Premier Rachel Notley discusses the case for imposing industry-wide oil production cuts in a letter to Albertans ahead of a scheduled news conference. The provincial government says Notley will speak to reporters Sunday evening about the next steps to ensure Albertans get the best possible value for their energy resources. The premier has also released an op-ed piece...

Overflowing oil production continues to dampen oilpatch outlook, prices

CALGARY, A.B. - Oil market analyst Kevin Birn likens Western Canada's crude supply to a bathtub with a drain that's too small to keep up with the increasing volume pouring out of the tap. As barrels of surplus oil lap the edge of the tub, desperate producers are forced to sell at rock-bottom prices to avoid a big mess. Meanwhile, no...

Oil and gas commission investigates quake in northeast British Columbia

FORT ST. JOHN, B.C. - The British Columbia Oil and Gas Commission says it is investigating a series of earthquakes that took place Thursday evening in the province's northeast. The commission says the seismic events struck between 16 kilometres southwest and 25 kilometres southeast of Fort St. John. It says operations in the area were immediately shut down as a precaution...

Fort St. John Canada Post employees join rotating strike

UPDATE - Workers are back to work following the Senate vote. FORT ST. JOHN, B.C. - Canada Post employees in Fort St. John have joined the rotating strike after the Senate voted in favour of back to work legislation. With the vote Monday night, mail service is supposed to resume at noon Tuesday.  Royal assent was granted late Monday shortly after...

Oilpatch share buybacks drive record high totals on the Toronto Stock Exchange

CALGARY, A.B. - Canadian oil and gas companies finding little love in the stock market are repurchasing their neglected shares, driving a rise in share buybacks that's already reached a record high this year. Using scarce dollars to buy your own stock instead of investing to grow the business may seem wasteful to some, but observers say it makes sense...

Natural gas pressure eases but FortisBC urges restraint for potential cold snap

SURREY, B.C. - The natural gas supply is improving for British Columbia, but FortisBC Energy Inc. is still asking its residential and business customers to conserve ahead of the two coldest months of the year. Fortis says in a news release that measures to boost its natural gas supply, warmer than average weather and an announcement from Enbridge that it...

Alberta in ‘crisis’ over low oil price: Prime Minister Justin Trudeau

CALGARY, A.B. - Prime Minister Justin Trudeau says Alberta is in a crisis as the province's oil is being sold at a discount of about $45 a barrel, but he and some oil company bosses agree there are no easy fixes Ottawa can offer. ``There is no question that folks in Alberta, folks here in Calgary, are living through extremely...

Export Development Canada provides 12 times as much financial backing to oil and gas companies

OTTAWA - New research shows Export Development Canada provides 12 times as much financial backing to oil and gas companies as it did to clean technology companies over the last five years. The findings by lobby group Oil Change International show that the federal government's export financing agency provided $62 billion to oil and gas companies between 2012 and 2017, compared...

Federal fiscal update panned by frustrated oilpatch

CALGARY, A.B. - Albertans dealing with steep discount prices for oil produced in the province expressed frustration Thursday with Ottawa's fiscal update that they say offered little acknowledgment of pain being felt in the oilpatch. But Finance Minister Bill Morneau said in Ottawa the federal government is aware of the "acute issue" of a glut of oil in Alberta that exceeds...

Premier Rachel Notley unveils carbon tax break for drilling companies

CALGARY, A.B. - Alberta Premier Rachel Notley is handing out tax breaks for oil and gas drillers along with criticism of Ottawa's lack of appreciation for how damaging are current price discounts on western Canadian oil. In a speech at a Canadian Association of Oilwell Drilling Contractors event in Calgary, she announced her government would add oil and gas drilling...

Morneau hopes new NAFTA deal signed next week, stresses tariff issue is separate

OTTAWA, O.N. Finance Minister Bill Morneau says he's hopeful the newly struck North American free-trade deal will be signed next week and suggests Canada could sign even with stinging U.S. tariffs in place. Morneau was asked by reporters after a speech today if the government should still consider signing the new continental trade deal even if the United States keeps...

Ottawa ‘on a different economic planet:’ Alberta finance minister

CALGARY, A.B. - Alberta's finance minister says Ottawa's latest fiscal update shows the federal government doesn't appreciate how badly the price squeeze on western Canadian crude is hurting the Canadian economy. ``It's clear the federal government's not speaking the same economic language of Albertans,'' Joe Ceci said Wednesday. ``Ottawa is living in a different economic planet.'' Ceci said he was disappointed...
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