Posts filtered on Tag

Canada

A contractor with Michels Corp. carries pieces of wood used to prop up sections of pipeline as they are assembled during construction of the Flanagan South crude oil pipeline outside Goodfield, Illinois, U.S., on Tuesday, Oct. 8, 2013. The approximately 600-mile, 36-inch crude oil pipeline is being constructed by Enbridge Energy Co., Inc., a subsidiary of Enbridge Inc., CanadaÕs largest oil transporter, and will originate in Flanagan, Illinois and terminate in Cushing, Oklahoma. (Daniel Acker/Bloomberg)

New focus on dividends has Enbridge shareholders happy, creditors silent

on
Stock traders have warmly embraced Enbridge’s new focus on dividends, but the company’s creditors have given it a colder reception.
This July 8, 2013 file photo provided by Surete du Quebec, shows debris from a runaway train in Lac-Megantic, Quebec, Canada. (AP Photo/Surete du Quebec, The Canadian Press,File)

New charges brought in 2013 Quebec oil train disaster

on
Regulatory agency Transport Canada announced the charges Monday after an investigation found an insufficient number of handbrakes were applied and the handbrakes were not tested properly.
A contractor with Michels Corp. carries pieces of wood used to prop up sections of pipeline as they are assembled during construction of the Flanagan South crude oil pipeline outside Goodfield, Illinois, U.S., on Tuesday, Oct. 8, 2013. The approximately 600-mile, 36-inch crude oil pipeline is being constructed by Enbridge Energy Co., Inc., a subsidiary of Enbridge Inc., CanadaÕs largest oil transporter, and will originate in Flanagan, Illinois and terminate in Cushing, Oklahoma. (Daniel Acker/Bloomberg)

Enbridge will shift Canadian pipelines, wind projects in $15.2 billion restructuring

on
Calgary, Alberta-based Enbridge will move its Canadian liquids pipeline business and four wind projects into its affiliated Enbridge Income Fund. In exchange, the income fund will pay its parent companies C$18.7 billion ($15.2 billion) and take on C$11.7 billion ($9.53 billion) in debt.
This aerial photo shows an oil sands mine facility near Fort McMurray, in Alberta, Canada. The proposed Keystone XL pipeline would carry oil sands crude from projects in Alberta to refineries along the Gulf Coast. (AP Photo/The Canadian Press, Jeff McIntosh, File)

Suncor scales back, signaling end of oil sands megaprojects

on
Crude’s price slump, pressure to get off fossil fuels and tax increases in Alberta are adding to high costs and a lack of pipelines, prompting producers from Suncor Energy Inc. to Imperial Oil Ltd. to accelerate a shift to smaller projects.
(AP file photo)

Judge demands explanation for three-decade delay on energy lease

on
A frustrated U.S. District Judge Richard Leon called the delay “troubling” and a “nightmare” during a recent court hearing.
A row of pump jacks operate in Apache Canada’s Provost field, located in the southeast part of Alberta (Apache Corp.)

Canada oil patch to see massive consolidation, analyst predicts

on
Crude oil prices remain about 44 percent lower than in June even after rebounding somewhat from a six-year low in March. The lower prices have led oil-sands producers in Western Canada to reduce spending by billions of dollars and cut thousands of jobs.
(U.S. Energy Information Administration)

U.S. natural gas imports reach lowest level in 28 years

on
Domestic natural gas production has hit record highs during the ongoing shale boom, and the low natural gas prices have played a role in replacing imports. Nearly 98 percent of natural gas imports came from Canada, but Canadian natural gas represented 7 percent of total U.S. natural gas consumption last year, which was down from 11 percent in 2009, according to the EIA.
OIL GAS RIG

Canada adapting to cheaper oil to avoid going way of the auto industry

on
The Group of Seven’s biggest oil exporter may see drilling investment slashed by $23.2 billion in the coming 12 months, according to data compiled by Bloomberg. That’s a 29 percent reduction from the previous 12 months and the biggest since at least 2007.
The Syncrude oil sands site, outside of on April 28th, 2015 in Fort McMurray, Canada. Fort McMurray is currently coping with an economic downturn as a result of low oil prices and most of the layoffs have been impacting the transient workforce. Canada's oil and gas industry is expected to lose 37% of its revenues in 2015. (Photo by Ian Willms/Getty Images)

Canada to regulate oil and gas emissions to meet new 30 percent target

on
Under the 2009 Copenhagen Accord, Canada pledged to cut its emissions by 17 percent from 2005 levels by 2020, or reaching 611 megatons, but is on pace to fall well short of its goal.
(Spencer Platt/Getty Images)

Canadian oil field services company cuts 2,000 jobs across North America

on
Oil-services companies are slashing jobs to cope with declining demand from drillers. Baker Hughes Inc., the oilfield-services company merging with Halliburton Co., has reduced about 17 percent of its workforce in recent months.