Tag: Canada

Oil train wrecks increase pressure for tougher safety rules

On Feb. 5, the Transportation Department sent the White House draft rules that would require oil trains to use stronger tank cars and make other safety improvements.  More »

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 »

Repsol profit triples as refining counterbalances oil drop

Oil’s drop of almost 50 percent over the past six months pushed companies from Total SA and Royal Dutch Shell Plc to BP Group Plc and Statoil ASA to announce investment cuts in the past month.  More »

U.S. tells Canada its climate goal may play Keystone role

Obama has secured climate concessions from China and India as part of those UN talks. A similar deal with Canada could help offset the anticipated environmental damage from the TransCanada Corp. pipeline, responding to project opponents.  More »

Canada: Oil train accident shows new safety rules inadequate

The Transportation Safety Board said Monday the Class 111 tank cars involved in the Feb. 14 CN train derailment met the upgraded standards for new tank cars carrying crude and other flammable liquids.  More »

Exxon Mobil’s reserves up at the end of 2014

Exxon said it had 25.3 billion barrels of oil-equivalent in reserves at the end of 2014, up from the 25.2 billion oil-equivalent barrel the company had on its books at the end of 2013.  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 »

TransCanada to seek U.S. approval for $600 million Upland Pipeline

TransCanada Corp.’s proposed $600 million Upland Pipeline would begin near the northwestern North Dakota oil hub of Williston and go north into Canada about 200 miles.  More »

Iran’s Khamenei threatens to halt oil sales if sanctions persist

Iran’s economy has languished under sanctions imposed over concerns that its nuclear program could lead to the development of atomic weapons.  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 »

TransCanada profit beats estimates as Keystone leg comes online

TransCanada’s oil shipments climbed as the company started deliveries last year from Oklahoma to Texas on its Gulf Coast line, the southern leg of the original Keystone XL proposal.  More »

TransCanada suspends efforts to seize Nebraska land for Keystone

A Holt County District judge issued a temporary injunction Thursday, keeping TransCanada from invoking eminent domain along the proposed Keystone Pipeline route in northern Nebraska.  More »

Driller: More than 1,000 field hands out of work as rigs decline

Fifty of Precision’s 250 drilling machines, each with crews of 20 to 25 field hands, are no longer running after oil prices have been cut in half since last summer, the firm said in its fourth quarter earnings release Thursday.  More »

Oil prices rise after OPEC cuts forecast for U.S. output

The group said it may boost global demand forecasts beyond this month’s slight increase amid rising U.S. gasoline use.  More »
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