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Mar 19, 2013

Ottawa names lawyer to talk energy with native groups

CALGARY, Alberta, March 19 (Reuters) – Canadian Prime
Minister Stephen Harper has appointed a British Columbia lawyer
to gather views of native groups across the Western province on
energy development as the industry struggles to gain acceptance
of multibillion-dollar pipelines that would vastly increase oil
exports.

However, Harper’s new representative for West Coast energy
infrastructure, Doug Eyford, insisted on Tuesday his role will
not be to cajole holdouts into supporting contentious projects.

Mar 19, 2013

Ottawa names lawyer to talk energy with natives

CALGARY, Alberta, March 19 (Reuters) – Canadian Prime
Minister Stephen Harper has appointed a British Columbia lawyer
to gather views of native groups across the Western province on
energy development as the industry struggles to gain acceptance
of multibillion-dollar pipelines that would vastly increase oil
exports.

However, Harper’s new representative for West Coast energy
infrastructure, Doug Eyford, insisted on Tuesday his role will
not be to cajole holdouts into supporting contentious projects.

Mar 7, 2013

Alberta to borrow C$4.3 bln in “bitumen bubble” budget

CALGARY, Alberta, March 7 (Reuters) – Deeply discounted
prices for Alberta heavy crude oil have forced the Western
Canadian province into a sixth straight deficit and prompted the
once miserly government to borrow more than C$4 billion ($3.9
billion) to help fund badly needed roads, schools and hospitals,
its finance minister said on Thursday.

Reliance on debt markets for infrastructure needs marks a
radical shift for an energy-rich province that had shunned
large-scale borrowing for two decades, and shows how Alberta’s
inability to move its oil sands-derived bitumen crude to more
lucrative export markets has emptied once-bulging coffers.

Feb 28, 2013

Chinese owners give Nexen oil unit freedom to run operations

CALGARY, Alberta (Reuters) – Chinese oil company CNOOC Ltd (0883.HK: Quote, Profile, Research, Stock Buzz), its takeover of Canada’s Nexen Inc (NXY.TO: Quote, Profile, Research, Stock Buzz) now complete, is giving the leader of the Canadian unit freedom to get operations running smoothly after an exhaustive seven-month acquisition process, CNOOC’s CEO said on Wednesday.

The deal, which boosts CNOOC’s global oil and gas production by 20 percent and reserves by 30 percent, closed on Monday after clearing the final hurdle, sign-off by U.S. regulators.

Feb 25, 2013

U.S. shale boom forces change in Canadian oil patch

CALGARY, Alberta, Feb 25 (Reuters) – The U.S. shale oil
revolution is forcing Canada’s oil sands industry to question
whether there is a future in processing its crude into lighter
oil, a tried-and-true way of wringing the most money out of a
resource considered crucial to the country’s prosperity.

Suncor Energy Inc, which nearly 50 years ago
pioneered the practice in Canada of mining and then upgrading
the oil sands bitumen into refinery-ready light crude at the
same site, served notice this month that the era of the
integrated project may be ending.

Feb 25, 2013

Alberta pulls funding from carbon-capture project

CALGARY, Alberta (Reuters) – The Alberta government said on Monday it canceled C$285 million ($278 million) in funding for a carbon-capture project tied to a proposed synthetic natural gas plant, the second withdrawal of such an environmental initiative in less than a year.

Alberta said the privately held company planning the project, Swan Hills Synfuels, has delayed it because lower-than-expected North American gas prices have made producing coal-to-gas fuel uneconomical.

Feb 21, 2013

Imperial Oil names Exxon veteran Kruger as CEO

CALGARY, Alberta, Feb 21 (Reuters) – Imperial Oil Ltd
has named Exxon Mobil Corp executive Rich
Kruger to replace Bruce March as CEO of Canada’s No. 2 oil
producer and refiner as it readies to start up its C$12.9
billion ($12.7 billion) Kearl oil sands mine against a backdrop
of weak heavy-crude prices.

March, who ran Imperial Oil for five years, will become
senior vice-president at Exxon’s chemical unit, Imperial said on
Thursday. Kruger, currently president of ExxonMobil Production
Co, will take over at the Canadian company on March 1. Exxon
Mobil has a 69.6 percent stake in Imperial.

Feb 19, 2013

Alberta warns its oil woes may worsen deficit

CALGARY, Alberta, Feb 19 (Reuters) – Alberta’s current-year
deficit may balloon to as much as C$4 billion ($4 billion), more
than four times the initial forecast, due to a deep discount on
the Western Canadian province’s oil and the strong Canadian
dollar, the government said on Tuesday.

In its third-quarter update, the Conservative government of
Premier Alison Redford said the 2012-13 deficit could be C$3.5
billion to C$4 billion, compared with an initial budget
projection of C$886 million. The forecast has increased
throughout this year.

Feb 15, 2013

Enbridge plots new U.S. oil line; profit dips

CALGARY, Alberta, Feb 15 (Reuters) – Enbridge Inc
said on Friday it is teaming up with Dallas-based Energy
Transfer Partners in the latest conversion of a natural
gas pipeline to oil use, a $3.4 billion project to move large
volumes of Canadian crude to Louisiana refineries.

Calgary-based Enbridge, which also reported an 8 percent dip
in fourth-quarter profit, said the conversion should help reduce
the deep discount on heavy Canadian crude that has pressured
producer profits and the economies of Alberta and Canada.

Feb 12, 2013

TransCanada’s Eastern oil plan gathers steam

CALGARY, Alberta, Feb 12 (Reuters) – TransCanada Corp’s
plan to ship Alberta oil to Eastern Canada through a
converted natural gas pipeline is quickly gaining traction,
executives said on Tuesday, as the company’s wait for a U.S.
decision on its long-delayed Keystone XL project drags on.

TransCanada, which reported a 19 percent drop in
fourth-quarter profit, expects to file an application by the end
of this year for its mainline conversion project, which could
allow up to one million barrels a day of oil sands-derived crude
to flow to Quebec and the Atlantic provinces by 2017.

    • About Jeffrey

      "Jeffrey Jones is a senior reporter based in Calgary, Alberta, Canada. Jeff covers a wide array of topics, including energy, environment, business and general news. He is also in charge of coordinating in-depth energy-related stories for the United States and Canada. Jeff has a keen interest in music."
      Joined Reuters:
      1994
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