CALGARY, Alberta, May 1 (Reuters) – The government of
Canada’s Northwest Territories, hit by persistent delays in
development of a C$16.2 billion ($16.5 billion) natural gas
pipeline, could support a liquefied natural gas alternative for
vast reserves in the region’s Mackenzie Delta, one of its
ministers said on Tuesday.
A month after proponents of the Mackenzie Valley gas
pipeline said they had chopped spending on the project, David
Ramsay, the territories’ minister of industry, tourism and
development, said LNG has to be looked at as an option.
By Bhaswati Mukhopadhyay and Jeffrey Jones
(Reuters) – First-quarter profit at Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) fell short of estimates as natural gas prices slumped to decade lows, which prompted the Canadian oil and gas producer to cut its full-year budget by 10 percent as it pulls more cash out of dry gas operations.
Talisman also wrote down the value of its troublesome Yme project in Norway by $248 million and removed it from its production forecasts as problems in readying the platform for the North Sea operation persisted.
April 30 (Reuters) – Royal Dutch Shell Plc and
Iogen Corp have scrapped plans for a commercial-scale biofuel
plant in Manitoba, spelling the loss of 150 jobs and raising
questions about widespread and near-term use of fuel made from
agricultural waste in Canada.
The Iogen Energy joint venture had been studying building a
plant to make ethanol from straw and other plant waste, rather
than from food crops such as corn and sugar. One location
discussed was Portage la Prairie, west of Winnipeg, Manitoba.
CALGARY, Alberta, April 27 (Reuters) – TransCanada Corp
reported a 14 percent drop in quarterly profit on
Friday as the natural gas-transport segment of the country’s
biggest pipeline company was hurt by the depressed state of
North America’s gas industry.
Chief Executive Russ Girling said the company is looking at
several regulatory and operational measures to deal with
pressures on its Canadian gas mainline after an unusually warm
winter slashed demand for the fuel, cutting volume on the system
to less than half its roughly 6 billion cubic foot a day
CALGARY, Alberta, April 26 (Reuters) – Imperial Oil Ltd’s
refining profit hit a record high in the first quarter
as the company took advantage of a ballooning gap between
bargain-basement discounts for Canadian crude oil and strong
prices for gasoline and other refined products.
Husky Energy Inc also reaped rewards from the drop
in prices for Canadian barrels compared with the price for
international crudes, the result of burgeoning supplies in the
U.S. Midwest and Midcontinent region, the major market for