CALGARY, Alberta, May 17 (Reuters) – Production in the
Canadian oil sands is likely to increase at a much faster clip
than the industry currently projects, an analyst said, putting
more pressure on pipeline companies to vastly expand capacity
out of Alberta.
The forecast comes as companies plot billions of dollars
worth of new pipeline routes to stave off costly bottlenecks.
The latest is Enbridge Inc’s plan, announced Wednesday,
to spend C$3.2 billion ($3.15 billion) on pipelines, most of it
to get crude from Alberta to Eastern Canada.
May 17 (Reuters) – Imperial Oil Ltd put its
money-losing Nova Scotia oil refinery on the auction block on
Thursday, adding to a list of plants on both sides of the
Atlantic that face sale or closure due to pricy crude and
falling gasoline demand.
The move comes a day after Enbridge Inc detailed a
C$2.6 billion ($2.6 billion) plan to pipe cheaper Canadian and
North Dakota oil east of Ontario by 2014. An Imperial executive
said that is too little and too late to consider holding out
with the Dartmouth, Nova Scotia, refinery.
CALGARY, Alberta, May 16 (Reuters) – Enbridge Inc
kicked off one of the most sweeping expansions in its history on
Wednesday, a C$3.2 billion ($3.2 billion) series of projects
across its pipeline system aimed at moving western Canada and
North Dakota oil to Eastern refineries and eliminating costly
bottlenecks in the U.S. Midwest.
Enbridge, the largest transporter of Canadian oil exports,
said C$2.6 billion worth of the new work would support a
reversal in flow direction of a pipeline between Sarnia,
Ontario, and Montreal to move Alberta oil sands and North Dakota
Bakken shale oil to refineries that are now captive to foreign
CALGARY, Alberta, May 16 (Reuters) – Canadian government
moves to quicken economic gains by shortening environmental
reviews for big energy projects and de-clawing some oil industry
critics are on the right track, a senior executive at Canada’s
largest independent oil explorer said on Wednesday.
John Langille, vice-chairman of Canadian Natural Resources
Ltd, said he believes there has been too much
compromise with those who do not want projects to move forward
under any circumstances, and that has led to overly cumbersome
rreviews for developers.
NEW YORK/CALGARY (Reuters) – Energy companies announced two multibillion-dollar North American liquefied natural gas export plants on Tuesday, adding to a lengthening list of projects aimed at shipping surplus gas overseas to take advantage of more lucrative markets.
Excelerate Energy, the U.S. liquefied natural gas company founded by Oklahoma billionaire George Kaiser, plans to develop the country’s first floating LNG export plant off the Gulf Coast, while Royal Dutch Shell has partnered with Asian buyers to build a plant in western Canada.
CALGARY, Alberta (Reuters) – Some opponents of the proposed C$5.5 billion ($5.5 billion) Northern Gateway oil pipeline to Canada’s Pacific Coast may not get a chance to be heard as scheduled by the regulatory panel looking at the plan because of federal government moves to streamline the country’s environmental review process.
As part a series of changes to environmental reviews that are packed into a sweeping budget bill, the pro-development Conservative government seeks to restrict who can appear before regulatory panels to those deemed directly affected by the proposals and those with relevant expertise.