Cenovus Energy plans to cut 15 per cent of its workforce

Cenovus Energy Inc. says it is planning to cut about 15 per cent of its workforce as it looks to reduce costs next year. The company (TSX:CVE) says it expects to find savings in areas such as drilling performance, development planning and optimized scheduling of oilsands well start-ups. The cuts come as Cenvous says it […]

Canadian Natural Resources appoints new president to succeed Steve Laut

Canadian Natural Resources Ltd. is promoting a 27-year veteran of the company to president as part of a management succession plan. Canada’s largest producer of natural gas and one of its biggest oilsands companies says president Steve Laut will become executive vice-chairman in February and his current role will be filled by Tim McKay, an […]

Lawyer says political opposition to Trans Mountain pipeline has ‘poisoned the well’ in Burnaby

CALGARY — A lawyer for Kinder Morgan Canada says political opposition to the Trans Mountain project in Burnaby, B.C. has “poisoned the well” and disrupted the regulatory review process in the city. In a hearing at the National Energy Board, Maureen Killoran laid out arguments about how lengthy delays in permit approvals from the city […]

Days before key ruling, TransCanada’s Keystone pipeline leaks 795,000 litres of crude oil in South Dakota

TransCanada Corp. said its original Keystone pipeline has leaked an estimated 795,000 litres of oil in Marshall County, S.D. just days before Nebraska is set to decide the fate of plans to expand the pipeline network. The company (TSX:TRP) said its crews shut down the Keystone pipeline system Thursday morning between Hardisty to Cushing, Okla, […]

Obsidian Energy settles with U.S. Securities Commission over fraud charges

Obsidian Energy Ltd. says it has reached a US$8.5-million settlement with the U.S. Securities and Exchange Commission over fraud-related charges filed earlier this year. The SEC had alleged the company and three executives participated in a “multi-year accounting fraud” where hundreds of millions of dollars were moved from operating expense accounts to capital expenditure accounts […]

Cenovus agrees to sell Saskatchewan assets to Whitecap for $940M

Cenovus Energy Inc. says it is selling its majority stake in a Saskatchewan enhanced-oil recovery project to Calgary-based Whitecap Resources Inc. for $940 million. The deal is the last on a list of four asset sales the major oilsands producer vowed to complete to help pay for its $17.7-billion acquisition of most of the Canadian […]

Lexin Resources bankruptcy leads to millions in rising costs for Orphan Well Association

The cost of looking after hundreds of wells, pipelines and other oilfield gear left behind by bankrupt Lexin Resources Ltd. has exceeded $2 million and the bills continue to roll in, says Alberta’s Orphan Well Association. The association was handed responsibility for nearly 1,100 wells plus associated equipment after the Alberta Energy Regulator took the […]

Encana reports third-quarter profit and revenue down from year ago

Encana Corp. says it earned a third-quarter profit of US$294 million, down from US$317 million a year ago, as revenue fell. The Calgary-based energy company (TSX:ECA), which keeps its books in U.S. dollars, says the profit amounted to 30 cents per share for the quarter ended Sept. 30, down from 37 cents per share last […]

Canadian Natural cuts 2018 spending to $4.3B but output to rise by 17%

Canadian Natural Resources Ltd. is throttling back capital spending in 2018, but plans to increase production to more than one million barrels of oil equivalent per day. Western Canada’s largest heavy oil and natural gas producer says it is budgeting to spend $4.3 billion, down about $500 million from its estimated capital budget for 2017. […]

Saskatchewan applies for intervener status on Trans Mountain pipeline hearing

The Saskatchewan government says it has applied for intervener status in National Energy Board hearings on the Trans Mountain pipeline project. Justice Minister Don Morgan says the province argues the interprovincial pipeline has already been approved and shouldn’t be held up by a municipality. The city of Burnaby, B.C., hasn’t issued necessary permits to allow […]

Suncor Energy buys minority stake in Quebec petroleum distributor

PetroNor, a petroleum products distributor operating in northwest Quebec, has a new equity partner — Suncor Energy Inc. Financial terms of the arrangement weren’t disclosed but the companies said the Calgary-based oil and gas company would have a 41 per cent stake in PetroNor, which is owned and operated by the James Bay Crees. Suncor […]

Cenovus selling southeast Alberta assets to Torxen for $1.3 billion

Cenovus Energy Inc. says it has agreed to sell its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger for $1.3 billion. The cash sale is expected to close in the fourth quarter, subject to customary conditions. This is the latest in a string of assets the Calgary-based oilsands […]

Trans Mountain pipeline approval was based on sufficient evidence: Alberta lawyer

VANCOUVER — Ottawa’s decision to approve the Trans Mountain pipeline was made on a broad base of evidence, a lawyer for Alberta’s attorney general has told the Federal Court of Appeal. Doreen Mueller said the governor in council considered economic, environmental, cultural and Indigenous interests in giving the $7.4-billion project its go-ahead last November. Mueller […]

Pipeline approval put Alberta’s needs ahead of B.C.’s oil-spill concerns, court hears

VANCOUVER — A lawyer representing British Columbia in its fight against the Trans Mountain pipeline expansion says the federal cabinet’s approval of the project put Alberta’s economic needs ahead of B.C.’s concerns about oil spills. Thomas Berger has told the Federal Court of Appeal that Ottawa also breached its statutory duty to provide reasons for […]

TransCanada cancels Energy East pipeline project

TransCanada is cancelling plans for its Energy East pipeline and Eastern Mainline projects. The company suspended its application on Sep. 7  for 30 days on the $15.7-billion route that would carry Alberta oilsands product from Hardisty to Saint John. The move came after the National Energy Board said its review would now consider indirect greenhouse […]

Court rules in favour of Suncor on random drug testing; union to keep fighting

Energy giant Suncor Energy has won another victory in a years-long legal battle over random drug and alcohol testing at its northeastern Alberta oilsands sites. Suncor started randomly testing staff in safety-sensitive jobs in 2012, but the union representing many of those workers called it an infringement of privacy. The majority of an arbitration panel […]

Resounding success of Alberta energy rebates prompts second round

The Alberta government is launching a second round of discounts on energy efficient products after the initial round proved wildly successful. The instant rebates cover the same range of home products discounted in the first round of the program, including low-flow shower heads, LED lights, dimmer switches and smart power bars. Alberta Environment Minister Shannon […]

Court tells Ottawa to reconsider pipeline approval on B.C. reserve

VANCOUVER — The Federal Court of Appeal has set aside a decision by the minister of Indian affairs that allowed the expansion of the Trans Mountain oil pipeline through the Coldwater Indian Reserve near Merritt. The band expressed its concerns for plans to increase the pipelines capacity by twining it, and asked that the government […]

Winter work stoppage at Site C dam prompts layoffs: B.C. Hydro

B.C. Hydro confirms about 200 workers at the Site C dam construction project in northeastern British Columbia have been laid off by the consortium that holds the main civil works contract. A spokeswoman with the provincial Crown corporation says the Peace River Hydro Partners announced it is stopping some work over the winter season. A […]

Cenovus reaches deal to sell some southern Alberta operations for $512 million

Cenovus Energy Inc. says it has reached an agreement to sell its Suffield crude oil and natural gas operations in southern Alberta to International Petroleum Corporation for $512 million in cash. A release from the Calgary-based oilsands company (TSX:CVE) says the sale, which includes Cenovus’ properties on Canadian Forces Base Suffield and the adjacent Alderson […]

Site C dam project draws criticism at Vancouver public input session

Critics of an $8.8-billion dam project in British Columbia voiced concerns over the long-term costs of the project during the first in a series of public input session. The province’s new NDP government directed the BC Utilities Commission to review the economic viability of the Site C hydroelectric dam project that was initiated by the […]

Veresen re-applies to build $10 billion Jordan Cove LNG project in Oregon

Veresen Inc., whose proposal to build an LNG export terminal in Oregon was derailed by regulators last year, has resubmitted its application for a bigger, more expensive project. The Calgary-based company. says its Jordan Cove project is now estimated to cost about US$10 billion to build, up from US$7.5 billion under its previous proposal, and […]

Site C project: Preliminary report due today from B.C. Utilities Commission

VANCOUVER — The British Columbia Utilities Commission is working to meet a deadline today for a preliminary report on its review of the $8.8-billion Site C dam in the province’s northeast. Spokeswoman Katharine Carlsen says the report will be delivered to government and posted on the commission’s website. But she says the commission is working […]

1 2 3 5