Category: Oil & Gas

Oil price collapse drains ISIL, Iraq war chests, conference told

| January 22, 2015 | 0 Comments
Oil price collapse drains ISIL, Iraq war chests, conference told

Oil price collapse, airstrikes targeting refineries help fight against ISIL The shocking decline in oil prices is not only hitting federal and provincial treasuries in Canada and elsewhere, it’s also sapping the war chests of both the Islamic State of Iraq and the Levant and the Iraqi government. Defence Minister Rob Nicholson says the impact […]

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Premier Prentice gloomy about quick rebound in oil prices

| January 22, 2015 | 0 Comments
Premier Prentice gloomy about quick rebound in oil prices

Dropping flat tax system one possible way to combat low revenues from plummeting oil prices Alberta Premier Jim Prentice says there’s no chance that the province can “ride things out” while waiting for a rebound in oil prices. Prentice says a full discussion must be held with Albertans to find a way to deal with a decline […]

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CAPP: Drop in oilpatch investment by one-third compared to 2014

| January 21, 2015 | 0 Comments
CAPP: Drop in oilpatch investment by one-third compared to 2014

CAPP says Western Canada will produce more oil this year than in 2014 The Canadian Association of Petroleum Producers is expecting oilpatch investment to drop by a third, or $23 billion, this year compared with 2014, while output is seen growing at a slower clip than previously predicted. The oil and gas industry group normally […]

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Christy Clark wants Trans Mountain spill response details

| January 21, 2015 | 0 Comments
Christy Clark wants Trans Mountain spill response details

Kinder Morgan raised concerns about publicly disclosing all Trans Mountain spill-response information Oil pipeline builder Kinder Morgan says it is more than willing to share its entire spill-response plan directly with the British Columbia government as it seeks approval for a proposed $5.4-billion pipeline-expansion project. While the energy giant raised concerns over disclosing personal, security or […]

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Low oil prices to cut $4.3B from federal revenues: report

| January 20, 2015 | 0 Comments
Low oil prices to cut $4.3B from federal revenues: report

Oil prices mean provincial tax revenues will drop $5.2B The sharp collapse of world oil prices will cut the Canadian government’s income by $4.3 billion this year and deliver a nearly $10-billion blow to the provinces, says a new report Tuesday by the Conference Board of Canada. The study predicts the slide in crude prices […]

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Keystone XL pipeline: TransCanada buying Nebraska land

| January 20, 2015 | 0 Comments
Keystone XL pipeline: TransCanada buying Nebraska land

Keystone XL to carry 800,000 barrels of crude oil a day TransCanada (TSX:TRP) is moving to acquire the remaining land in Nebraska needed to build its controversial Keystone XL pipeline after the state’s high court earlier this month removed a major legal barrier for the planned route. Officials of the Calgary-based company said Tuesday they’ve […]

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Oil prices: Beyond Fort McMurray, oilpatch country feels the pinch

| January 19, 2015 | 0 Comments
Oil prices: Beyond Fort McMurray, oilpatch country feels the pinch

Low oil prices could mean job losses, but may allow towns to catch up on infrastructure projects If low oil prices stick around much longer, the operations manager at Lac La Biche Transport Ltd. says he may have to lay off workers. Kevin Warawa says business is down by about a quarter compared with the same […]

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Cheap oil means a lot more than cheaper gas

| January 19, 2015 | 0 Comments
Cheap oil means a lot more than cheaper gas

Cheap oil means savings for businesses, governments, lower revenues for oil producing areas Cheap oil doesn’t only mean cheaper gas in the tank. It means that a car dealer in Illinois is shuffling the inventory of models he’ll be selling, that more students in Wisconsin may get school-provided iPads, that some planned projects in a […]

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What could Canada do to mute US opposition to Keystone? Nothing, opponents say

| January 18, 2015 | 0 Comments
What could Canada do to mute US opposition to Keystone? Nothing, opponents say

Keystone XL project more about US politics than the pipeline The American environmental organizations fighting the Keystone XL pipeline say there’s no climate-change plan Canada could possibly adopt that would make them back down. Multiple groups contacted this week dismissed an idea often heard in Canada, that a more ambitious climate policy by the federal government […]

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Chipewyan First Nation alleges ‘failure to consult’ in lawsuit

| January 15, 2015 | 0 Comments
Chipewyan First Nation alleges ‘failure to consult’ in lawsuit

Chipewyan First Nation says AB aboriginal consultation office violated the band’s rights An Alberta aboriginal band has asked a judge to overturn the approval of a $3-billion pipeline project because the provincial government ruled the First Nation didn’t have the right to be consulted about it. In court documents filed Thursday, the Athabasca Chipewyan First […]

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