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Saturday, February 23, 2019
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Pipeline protest convoy approaches Ottawa after rolling across country

OTTAWA, O.N. - Hundreds of trucks are expected to roll into Ottawa Tuesday to protest the federal government's policies on the oil industry.The main portion of the United We Roll Convoy set out from Red Deer, Alta., last Thursday and made stops in Regina, Dryden, Thunder Bay, and Sault Ste. Marie before mustering at Arnprior, Ont., just outside the...

Officials still working out how much oil leaked from derailment in Manitoba

ST-LAZARE, Man. - Canadian National Railway says it doesn't yet know how much oil leaked from a derailment in western Manitoba, but it says trains are now running on the line again.The railway said Saturday there was ``a partial leak'' of crude south of St. Lazare, Man., but it was contained and none had reached a nearby river.When asked...

Cabinet likely to extend deadline to reconsider Trans Mountain pipeline

OTTAWA - Canada's energy regulator will tell the federal government on Friday whether it still thinks the Trans Mountain pipeline should be expanded, but cabinet's final say on the project's future is not likely to come before the summer. The National Energy Board is reconsidering the project's impact on marine life, including highly endangered Southern Resident Killer Whales, after the...

CN says oil leak contained following derailment in western Manitoba

ST-LAZARE, Man. - A leak from a derailed train carrying oil in western Manitoba has been contained, the railway said Saturday, but some pipeline supporters say the incident highlights the risks involved in moving oil by rail.Canadian National Railway said in a statement that 37 cars carrying crude left the tracks early Saturday morning near St-Lazare, just east of...

CN says train leaking crude following derailment in western Manitoba

ST-LAZARE, Man. - A train carrying oil has derailed and is leaking in Manitoba. Canadian National Railway says in a statement that 37 cars carrying crude left the tracks early Saturday morning near St-Larare, which is east of the Saskatchewan-Manitoba boundary. CN says there is ``a partial leak'' of crude, and that its environmental team is working to clean up the...

Conservative leaders to attend pro pipeline rally in Saskatchewan

MOOSOMIN, S.K. - Federal Tory leader Andrew Scheer and the conservative premiers of Saskatchewan and New Brunswick are to speak today at a pro-pipeline rally near the Saskatchewan-Manitoba boundary.The event at a pumpjack facility is to draw attention to concerns about Bill C-69 _ federal legislation that proposes major changes to how energy projects are reviewed.Rally organizer Sinclair Harrison...

Northern B.C. First Nation clan says ancient tools found at pipeline work site

HOUSTON, B.C. - Coastal GasLink says it has suspended pipeline work south of Houston, B.C., while claims of the discovery of Indigenous artifacts on the site are investigated. The company says it has cordoned off the area, requested that a qualified archeologist visit the site and the B.C. Oil and Gas Commission will conduct another site visit to investigate the...

Alberta government contract to result in three new solar power plants

CALGARY, A.B. - The Alberta government is granting a 20-year contract to supply about half of its electric power needs to a partnership that plans to build three new solar power plants for more than $100 million.Environment and Parks Minister Shannon Phillips says the contract to supply about 55 percent of the government's annual power consumption will shave $3.9 million...

Full pipelines, new services propel Enbridge to street beating $1.17B income

CALGARY, A.B. - Enbridge Inc. says full oil and gas pipelines and the addition of new services led to fourth-quarter earnings that beat analyst expectations.Canada's largest pipeline operator says adjusted net income was $1.17 billion or 65 cents per share in the last three months of 2018, beating analyst estimates of $1.12 billion or 62 cents per share as...

Buffett’s firm tweaks stock portfolio, adds Suncor, Red Hat

OMAHA, N.E. - Billionaire Warren Buffett's company has taken a new stake in Canadian firm Suncor Energy and trimmed its huge Apple stake.Berkshire Hathaway Inc. filed a quarterly update on holdings with the Securities and Exchange Commission on Thursday.The Omaha, Nebraska-based company said it owned 10.76 million Suncor shares at the end of last year. But these quarterly filings don't...

TransCanada profit and revenue rise as oil and gas pipeline flows strengthen

CALGARY, A.B. - Higher volumes from its growing stable of oil and gas pipelines in the United States and Canada drove improvements in fourth-quarter earnings, TransCanada Corp. reported Thursday.Oil and gas production growth in the U.S. and full oil pipelines in Alberta _ where the provincial government has enacted production cuts to free up pipeline space and draw down overflowing...

Precision Drilling soars on strong U.S. revenue despite $198M Q4 net loss

CALGARY, A.B. - Shares in Precision Drilling Corp. jumped by as much as 16.6 percent Thursday on the Toronto Stock Exchange after it reported strong operational results from its U.S. operations in the fourth quarter.Shares in Precision traded as high as $3.30, up from Wednesday's close of $2.83, at mid-day. It posted a 52-week high close of $5.28 last August.``In...

BC Hydro customers pay billions for unneeded, lengthy power deals says minister

VICTORIA, B.C. - A newly released report by the British Columbia government says BC Hydro customers will pay $16 billion over the next two decades because the Crown utility was pressured to sign long-term contracts with independent power producers.Minister of Energy Michelle Mungall commissioned the report, which blames the previous B.C. Liberal government for creating the problem.The report says the...

Precision Drilling reports $198.3M Q4 loss due to one time charge

CALGARY, A.B. - Precision Drilling Corp. reported a loss of $198.3 million in its fourth quarter as it was hit by $208 million in goodwill impairment charges.The oilfield services company says the loss amounted to 68 cents per diluted share for the quarter ended Dec. 31.That compared with a loss of $47 million or 16 cents per share in...

TransCanada raises quarterly dividend, reports Q4 profit up from year ago

CALGARY, A.B. - TransCanada Corp. raised its dividend as it reported its fourth-quarter profit rose compared with a year ago.The pipeline company says it will now pay a quarterly dividend of 75 cents per share, up from its previous payment of 69 cents per share.The increased payment to shareholders came as TransCanada reported a profit of $1.09 billion or...

Western Energy sends drilling rig to southern U.S. as Canadian activity dries up

CALGARY, A.B. - Drilling companies continue to move rigs from Western Canada to the more active oilfields of the southern United States.Calgary-based Western Energy Services Corp. says it moved a drilling rig from Canada to the U.S. Permian Basin oil play in western Texas and southeastern New Mexico early this year and will likely move more rigs in the near...

Teck Resources reports lower Q4 profit amid lower prices for copper, zinc, oil

VANCOUVER, B.C. - Teck Resources Ltd. saw its fourth-quarter profit drop 41.5 percent from the year earlier, amid lower prices for copper, zinc and oil.The profit attributable to shareholders amounted to $433 million or 75 cents per diluted share, down from a profit of $748 million or $1.26 per diluted share in the fourth quarter of 2017.Teck's adjusted profit...

Cenovus reports $1.36 billion Q4 loss due to deep discounts on Canadian oil

CALGARY, A.B. - Cenovus Energy Inc. reported a $1.36-billion loss in its latest quarter as it faced deep discounts for Western Canadian Select oil.The company says the loss amounted to $1.10 per share for the quarter ended Dec. 31, compared with a profit of $620 million or 50 cents per share in the last three months of 2017 when...
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