Tag: Canada

ConocoPhillips hires Scotiabank to sell some Canadian assets

Details on the sale from the Houston-based company will be provided in the second quarter, according to Scotiabank.  More »

ConocoPhillips to lay off 200 Canadian workers

The Houston-based independent said the layoffs will affect 7 percent of the company’s Canadian workforce.  More »

Canada safety board says tank car standards needed sooner

A new standard was enacted in Canada after a fiery derailment in July, 2013 in the center of Lac-Megantic, Quebec, killed 47 people, but oil trains meeting the new standard continue to derail and catch fire throughout North America.  More »

Tourmaline hunts for energy deals as rivals dump assets

Tourmaline is growing as peers shed assets and reduce dividends with U.S. crude hovering below $50 a barrel.  More »

Fuel-thirsty California looks to Eastern Canada, Asia for supply

Tankers are bound for California after a spate of refinery shutdowns that propelled the premium for the state’s special blend of gasoline to a seasonal record.  More »

Trains carrying crude in Canada to face tougher safety standards

The latest Transport Canada proposals, published online Wednesday, go beyond earlier announcements by requiring rail cars carrying crude to have thicker steel, full “head shields,” mandatory thermal “jacket” protection among other upgrades.  More »

Train carrying crude oil derails in Canada

The derailment involved 10 train cars — some of which caught fire and entered the Mattagami River System, police said  More »

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 »
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