Category: Canada

Alberta energy drillers pivot to natural gas as oil plunges

Alberta’s gas prices dropped 35 percent last year while oil fell 46 percent. U.S. crude prices have plunged below $50 from last year’s high above $107 after the Organization of Petroleum Exporting Countries resisted calls to cut output amid a surge of U.S. crude production.  More »

Fuel-hauling trains could derail at 10 a year

The federal government predicts that trains hauling crude oil or ethanol will derail an average of 10 times a year over the next two decades, causing more than $4 billion in damage and possibly killing hundreds of people if an accident happens in a den…  More »

Canada toughens liability standards after oil train disaster

Transport Minister Lisa Raitt said the legislation will mean any railway or company that ships crude oil will share accountability for cleanup and compensation costs in the event of an accident.  More »

Canada Pacific rail and Teamsters agree to arbitration, ending strike

Canadian Pacific Railway and the Teamsters Canada Rail Conference agreed to go into mediated arbitration, ending a strike that began over the weekend, Labor Minister Kellie Leitch said. As a result, Canada’s federal government will no longer be pursuing back-to-work legislation, Leitch said at a press conference in Ottawa on Monday. “The strike is over,” Leitch said. “My expectation is that people return to work quickly.”  More »

Canadian National’s main line shuts after crude cars derail

The train of 100 cars, all carrying crude from Canada’s oil-producing region of Alberta to eastern Canada, derailed just before midnight Saturday in a remote and wooded area about 30 miles north of Gogama, Ontario, Canadian National Railway nspokesman Patrick Waldron said in an e-mail  More »

Canadian drilling services firm files bankruptcy

A Canadian company that expanded into South Texas in 2012 with a pioneering waterless technique to fracture shale rock has filed for bankruptcy protection as it seeks to reorganize.  More »

State Dept. gives agencies 2 weeks to comment on Keystone

Federal agencies have been given a Feb. 2 to provide advice on whether to move forward with the hotly debated Keystone XL pipeline.  More »

TransCanada sued again by Nebraska landowners over Keystone path

Dual complaints were filed Friday against the Calgary-based company in state courts in York and O’Neill, Nebraska, by David Domina, the lawyer whose prior effort to halt construction of the 1,179-mile conduit was defeated by a cadre of judges who ruled his clients hadn’t established their legal right to sue.  More »

Alberta likely to face recession because of low oil prices

Alberta has the world’s third-largest oil reserves after Venezuela and Saudi Arabia, and Canadian oil is the single largest source of U.S. oil imports  More »

Canadian oil surge to U.S. Gulf puts Mexico on defensive

The Canadian supply will square off against crudes from Mexico and Venezuela that have traditionally fed refineries along the Texas and Louisiana coasts.  More »

Chevron abandons Arctic drilling plans

Chevron told Canada’s National Energy Board Wednesday that it would pull out of Beaufort Sea.  More »

Repsol agrees to buy Canada’s Talisman for $8.3 billion

Repsol has been seeking to spend about $10 billion on takeovers since receiving compensation in May from Argentina for the 2012 nationalization of YPF SA.  More »

Apache will sell LNG stakes in Australia, Canada for $2.75 billon

Apache Corp. will sell its stakes in liquefied natural gas projects in Australia and Canada for $2.75 billion, marking one of its most significant steps yet toward paring back its portfolio to focus on North American activity.  More »

EOG sells pair of Canadian assets for $410 million

EOG Resources sold assets in Manitoba and Alberta in a pair of deals that earned a combined $410 million for the Houston-based exploration and production company.  More »

Oil boom triggering cowboy shortage across Canada

There’s been a lot of attention paid to how Canada’s oil boom has helped make gasoline cheaper. What many people may not realize is that the boom is also driving up the prices they pay for burgers and steaks.  More »
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