RSSCategory: Business

Energy East pipeline will cost more than $12B: TransCanada

July 31, 2015 | By | Reply More
Energy East pipeline will cost more than $12B: TransCanada

TransCanada decision to relocate proposed terminal in Cacouna, Que costly CALGARY – It’s looking like the Energy East project is going to get more expensive. TransCanada Corp. (TSX:TRP), the company planning to build the controversial cross-Canada oil pipeline, had been estimating it would cost $12 billion. But on Friday, it warned that figure is expected to grow. On a […]

Read More

Exxon profit falls by half to $4.2B, but oil production soars

July 31, 2015 | By | Reply More
Exxon profit falls by half to $4.2B, but oil production soars

Exxon refining, chemical operations performed well NEW YORK – Exxon Mobil Corp. profit dropped by half in the second quarter on sharply lower oil and gas prices around the world, but the company’s oil and gas production, which has been generally declining in recent years, surged. The company posted net income for the second quarter of $4.19 billion, down 52 per […]

Read More

Alberta economy: Province needs to nurture its economic gazelles

July 21, 2015 | By | Reply More
Alberta economy: Province needs to nurture its economic gazelles

Stop talking about diversifying the Alberta economy – start talking about broadening the economic base By Stephen Murgatroyd for Troy Media EDMONTON, AB – A colleague suggested to me recently that Alberta should stop talking about diversifying its economy. Instead, he said, we should talk about broadening the economic base. He is right. Of course, the […]

Read More

Canadian crude oil market needs to expand: Natural resources minister

July 20, 2015 | By | Reply More
Canadian crude oil market needs to expand: Natural resources minister

Canadian crude oil market grew 81 per cent between 2005 and 2014 HALIFAX – Canada needs to expand its market opportunities for crude oil now that a deal on Iran’s nuclear program is expected to open up that country’s oil supply to international trade, Natural Resources Minister Greg Rickford said Monday. Speaking during a press conference at the Energy and Mines […]

Read More

Canadian fracking sand market expands as LNG grows, dollar falls

July 20, 2015 | By | Reply More
Canadian fracking sand market expands as LNG grows, dollar falls

3.5 million tonnes of fracking sand used annually in Canada CALGARY – North American demand has surged in recent years for the smoothest, hardest sand available and Canadian companies are looking to carve out a bigger chunk of the market. The appetite is coming from the fracking industry, which in North America went from using about seven million tonnes of […]

Read More

International rig counts down since June 2014, up in Canada since last month

July 9, 2015 | By | Reply More
International rig counts down since June 2014, up in Canada since last month

Rig counts in Canada up by 49 since May, 2015 Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas internationally is down by over one-third since June of last year. Worldwide, the rig count for Latin America, Europe, Africa, the Middle East, Asia Pacific, United States and Canada is at 2,136, down […]

Read More

Clear vision on setting carbon emission goals needed: CEOs

July 8, 2015 | By | Reply More
Clear vision on setting carbon emission goals needed: CEOs

Balance of environmental concerns with reliability, affordability needed in setting carbon emission goals CALGARY – Governments needs to set a clear vision on energy goals and then let private enterprise figure out how to get there, according to the chief executives of two major North American energy companies. Greg Abel, head of Berkshire Hathaway Energy, and Doug Suttles, CEO of Encana Corp., […]

Read More

Facebook Texas data centre to use wind power to run servers

July 8, 2015 | By | Reply More
Facebook Texas data centre to use wind power to run servers

Facebook Texas data centre in Fort Worth FORT WORTH, Texas – Facebook is building a massive data centre in Texas to provide more computing capacity for the online social network’s 1.4 billion users to share tidbits of their lives with friends and family. The first phase of the $500 million project in Fort Worth, Texas will span […]

Read More

Oilsands workers lured back to Maritimes by shipbuilding company

July 8, 2015 | By | Reply More
Oilsands workers lured back to Maritimes by shipbuilding company

Irving Shipbuilding looking to hire as many as 200 oilsands workers FORT MCMURRAY, Alta. – An East Coast company is putting a twist on the usual job recruitment strategy, coming to Alberta’s oilsands capital in an effort to lure workers back to the Maritimes. Irving Shipbuilding is hosting a one-day job fair in Fort McMurray, Alta., to […]

Read More

Oilpatch making the best of it as crude drops toward US$50 a barrel

July 7, 2015 | By | Reply More
Oilpatch making the best of it as crude drops toward US$50 a barrel

Alberta oilpatch weathering low commodity prices CALGARY – With oil prices drifting closer to US$50, energy executives in downtown Calgary are trying to stay positive. Apart from the crude drop and stock hit, “everything’s working pretty well” at Cenovus Energy (TSX:CVE) these days, deadpanned Harbir Chhina, the firm’s executive vice-president of oilsands. MEG Energy (TSX:MEG) vice-president John Rogers echoed […]

Read More

Tell your Story