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Thursday, May 23, 2019
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B.C. premier asks utilities commission to probe the high price of gasoline

VICTORIA, B.C. - Premier John Horgan has asked the British Columbia Utilities Commission to investigate why gasoline in Metro Vancouver and Vancouver Island is so much more expensive than the rest of the country. A statement from the premier's office says Horgan spoke with Prime Minister Justin Trudeau on Monday and brought up his concerns, making it clear that gas...

MEG Energy reports $48 million loss despite 56% bitumen price increase

CALGARY, A.B. - Oilsands producer MEG Energy Corp. is reporting a larger-than-expected first-quarter net loss despite a rise in revenue as its average price for blended bitumen rose by 56 per cent compared with the fourth quarter of 2018. The Calgary-based company says it lost $48 million or 16 cents per share in the three months ended March 31, compared...

Green party targets use of tax money for political attack billboards

VANCOUVER, B.C. - Green party Leader Andrew Weaver is calling for a ban on the use of taxpayer money for political attack ads after the B.C. Liberals bought billboards blaming Premier John Horgan for a spike in gas prices. The digital billboards along commuter routes on the Lower Mainland say ``Gas prices?'' and ``Spending more to commute?'' followed by ``Blame...

Receiver named for Trident Exploration at request of Orphan Well Association

CALGARY, A.B. - The Alberta Orphan Well Association says it has taken the ``unprecedented'' step of having a receiver appointed to manage the oil and gas assets of failed Trident Exploration. The industry association that takes care of wells in Alberta when the owner can't or won't says accounting firm PricewaterhouseCoopers has been appointed by a court to maintain the...

Canadian firm WSP finding new work in Saudi Arabia despite diplomatic dispute

OTTAWA, O.N. - At least one Canadian-based company is optimistic about its prospects in Saudi Arabia, a bullishness that comes as businesses fret about their future in the kingdom following a diplomatic battle with Ottawa. WSP Global Inc., a construction and engineering firm headquartered in Montreal, has continued to land infrastructure work in Saudi Arabia even after a dispute erupted...

Environmentalists welcome Sask. carbon ruling that affirms federal climate role

REGINA, S.K. - Environmental groups rejoiced at a Saskatchewan Court of Appeal ruling on carbon pricing that legal experts say strongly affirms the federal government's essential role in the fight against climate change. Ian Bruce of the David Suzuki Foundation says the decision paves the way for a unified national program to reduce Canada's greenhouse gas emissions. Isabelle Turcotte of the...

TransCanada shareholders agree to drop ‘Canada’ from the name

CALGARY, A.B. - TransCanada Corp. is officially dropping the ``Canada'' from its name, but CEO Russ Girling isn't saying he expects it will make it any easier to get pipelines approved in Canada or the United States. The company is now to be called TC Energy Corp. after shareholders approved the change at its annual meeting Friday. ``The name TC Energy...

TransCanada reports $1B first quarter profit, up from $734M a year ago

CALGARY, A.B. - TransCanada Corp. topped expectations as it reported a profit of $1.00 billion in its latest quarter, up from $734 million a year ago, as its revenue edged higher. The pipeline company says the profit amounted to $1.09 per share for the quarter ended March 31. That compared with a profit of 83 cents per share in the...

Trump easing offshore drilling safety rules from Deepwater

PORT FOURCHON, La. - The Trump administration moved Thursday to give oil and gas companies more flexibility in meeting safety requirements imposed after the 2010 BP Deepwater Horizon explosion, which killed nearly a dozen people and was the worst offshore oil disaster in U.S. history. The revised rules, which govern safety standards at offshore wells, come as the administration pushes...

Canadian LNG project in Oregon faces one year delay for regulatory approvals 

CALGARY, A.B. - A Calgary company proposing to build a US$10-billion LNG export facility in Oregon says the project timeline is being delayed by about a year. Pembina Pipeline Corp. says it has decided to minimize project spending at about $50 million this year as it tries to vault remaining regulatory and permitting hurdles for the Jordan Cove liquefied natural...

Energy company’s bankruptcy may show lenders viewing industry differently: CAPP

EDMONTON, A.B. - The bankruptcy of an energy company that plans to walk away from thousands of gas wells may be a sign lenders are changing how they look at the industry in light of a recent Supreme Court ruling. ``The credit industry is evolving the way it looks at risk,'' said Brad Herald, a vice-president with the Canadian Association...

Ex Obama envoy Heyman details ‘ice age’ with Harper over Keystone pipeline

OTTAWA, O.N. - Barack Obama's former envoy to Ottawa has pulled back the veil on how the previous Conservative government of Stephen Harper froze him out over the controversial Keystone XL pipeline. Bruce Heyman, who was the U.S. ambassador to Canada from 2014 to 2017, offers an on-the-record insider account of one of the worst-kept secrets in Ottawa diplomatic circles...

Alberta’s ‘turn off taps’ law makes gas price jumps and shortages real

VICTORIA, B.C. - Get ready for higher gasoline prices and shortages in British Columbia and a supply surplus on the Prairies if Alberta Premier Jason Kenney uses a newly proclaimed law to restrict fuel exports to its western neighbour, say industry experts and court documents. ``The one wild card factor that we really can't predict is the political factor: would,...

Suncor still opposed to Alberta oil cuts despite ‘slightly positive’ Q1 impact

CALGARY, A.B. - Suncor Energy Inc. remains opposed to the Alberta government-ordered oil production curtailments, but new CEO Mark Little conceded Thursday the program was actually ``slightly positive'' for the company's financial results in the first quarter. The Calgary-based oilsands producer and refining giant reported net income for the first three months of the year that beat analyst expectations thanks...

Ahead of Trudeau meeting, Kenney calls assessment bill a threat to unity

OTTAWA, O.N. - Alberta Premier Jason Kenney is warning that if a federal bill overhauling environmental assessments passes in its current form, it will threaten Canadian unity and there will be ``an immediate constitutional challenge.'' Kenney is at the Senate energy committee this morning to talk about Bill C-69 _ what he calls the ``no more pipelines'' bill _ saying...

B.C. takes Alberta to court on law that could see gasoline exports cut

EDMONTON, A.B. - British Columbia's premier fought battles over the Trans Mountain pipeline on two fronts Wednesday, going to court against Alberta's premier, who wants the line expanded, while urging Ottawa to start shipping more gasoline through the pipe that's already there. John Horgan, speaking to reporters in Victoria, announced his government has filed court documents challenging the legality of...

Junior producer cites gas prices, tax bills, court decision as it shuts down

CALGARY, A.B. - Junior oil and gas company Trident Exploration Corp. says it is ceasing operations and will turn over the care of its 4,700 wells to the Alberta Energy Regulator. In a news release, the privately held Calgary-based company says its abandonment and reclamation obligations are estimated to be $329 million and it doesn't expect any financial recovery for...

Alberta law allows oil cuts to B.C.; Premier Kenney says won’t use right away

EDMONTON, A.B. - Alberta Premier Jason Kenney says his government now has the power to reduce oil flows to British Columbia in the fight over the Trans Mountain pipeline expansion. Kenney says he called B.C. Premier John Horgan after the cabinet proclaimed a bill into law just after being sworn in on Tuesday. He says it was a cordial discussion and...
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