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Tag Archives: canadian oil and gas

Canada’s Alberta to introduce economy-wide carbon tax in 2017

CALGARY – The Canadian province of Alberta, home to the country’s controversial oil sands, said on Sunday it will implement an economy-wide tax on carbon emissions in 2017, addressing long-standing criticism it is not doing enough to combat climate change. The provincial government estimated the plan, including a pledge to phase out pollution from coal-fired electricity generation by 2030 and ...

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Enbridge cuts 5 percent of workforce in Canada and U.S.

CALGARY, Alberta – Canada’s largest pipeline company Enbridge Inc cut 5 percent of its workforce on Monday, a company spokesman said, as low crude prices continued to drag on the North American oil and gas industry. Enbridge spokesman Graham White said the reductions were made across Canada and the United States and represented about 500 employees at all levels and ...

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In Canada’s prairies, crude slump puts first oil patch in reverse

LLOYDMINSTER, Canada – Amid the corn and canola fields of western Saskatchewan, oil foreman Dwayne Roy is doing what Saudi Arabia and fellow OPEC producers are loath to do: shutting the taps on active wells. Inside a six-foot-square wooden shed that houses a basic hydraulic pump, the Gear Energy Ltd employee demonstrates how shutting down a conventional heavy oil well ...

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Alberta regulator lets Nexen reopen some Long Lake pipelines

TORONTO – Alberta’s energy regulator said late on Sunday it will allow Nexen Energy, the Canadian subsidiary of China’s CNOOC Ltd, to reopen some pipelines ordered closed following a major spill. The Alberta Energy Regulator said it would allow a restart of 40 of 95 pipelines closed at Nexen’s Long Lake oil sands operations after reviewing maintenance and monitoring documentation. ...

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Interview – Canada oil industry says price drop makes new pipelines essential

CALGARY – Tumbling crude prices have made building new pipelines more important than ever for Canadian oil and gas producers because the fate of some projects hinges on shipping costs, the head of the industry’s main lobby group said on Wednesday. Canadian companies have long complained that the industry suffers major lost revenue because their oil, Western Canadian Select, is ...

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Alberta royalty panel to deliver ‘measured’ recommendation by year-end

CALGARY – A review of royalty rates in oil-rich Alberta will focus on whether the Canadian province is adequately protecting its economy and revenues, regardless of whether commodity prices rise or fall, said the newly appointed head of the panel on Thursday. Dave Mowat, the chief executive of the provincially-owned financial services agency ATB Financial, was appointed in June by ...

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Left turn in Canada’s oil-rich Alberta stuns energy industry

CALGARY, Alberta – Canadian oil and gas shares tumbled and the country’s main stock index hit a one-month low on Wednesday after the left-wing New Democratic Party surged to power in the oil-rich province of Alberta on promises that included energy industry reforms. “Even now our inboxes are filling with messages expressing something between disbelief and dismay,” analyst Andrew Bradford ...

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Uh-O, Canada!: Fuel prices trample Canadian economy

A global downswing in oil prices has not been kind to Canada’s economy, CNN Money reports. As prices continue to flounder, companies brace for multi-billion-dollar budget cuts and abandoned projects. Royal Dutch Shell ditched its plans for a tar sand facility it February and most of the 18 planned LNG projects will get the axe. The Conference Board of Canada ...

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