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Apr 27, 2015

Alberta voters may end ruling party’s 44-year run after oil plunge

CALGARY, Alberta, April 27 (Reuters) – The Canadian province
of Alberta, the largest source of U.S. crude imports, may be
poised to change its government for the first time in 44 years
as the ruling Progressive Conservatives (PCs) struggle with the
shock of tumbling oil prices.

With just a week remaining in the election campaign, polls
show the PCs trailing their opponents, hurt by an unpopular tax
increase and campaign missteps.

Apr 23, 2015

Canada natives say emails show gov’t fretted about pipeline talks

VANCOUVER/CALGARY, April 23 (Reuters) – Canadian regulators
had serious concerns the federal government was not consulting
enough with aboriginal groups about the Northern Gateway
pipeline project, according to internal emails obtained by the
Haisla First Nation and released on Thursday.

The Enbridge Inc pipeline will move 525,000 barrels
of Alberta oil sands crude to a port on native land near
Kitimat, British Columbia.

Apr 17, 2015

Crude price back above break-even for Canada oil sands producers

CALGARY, Alberta, April 17 (Reuters) – Bolstered by a weak
Canadian currency and robust demand from U.S. refiners, Canadian
heavy oil prices have rebounded off first-quarter lows and
surpassed the break-even point for most producers, easing
pressure on a sector that has slashed budgets and staff.

The price of Western Canada Select, the country’s benchmark
crude grade, is trading for around C$55 ($45) per barrel, up
nearly C$20 per barrel from its mid-March lows thanks to
improved market access and U.S. refinery demand ramping up after
seasonal maintenance.

Apr 7, 2015

Premier of Canada’s Alberta dissolves legislature, calls election

CALGARY, Alberta, April 7 (Reuters) – Alberta Premier Jim
Prentice on Tuesday called an election in Canada’s wealthiest
province, the largest source of U.S. crude imports, as he looks
to extend his party’s 43-year reign even as weak oil prices
threaten to push the economy into recession.

Prentice, a former investment banker and federal minister
who took over the leadership of the ruling Progressive
Conservatives in September, dissolved the provincial legislature
and called an election for May 5 as he seeks to add another
majority on top of the party’s 12 straight election victories.

Apr 1, 2015

Connacher CEO sees no oil sands shutdown in latest downturn

CALGARY, Alberta, April 1 (Reuters) – Connacher Oil & Gas
Ltd, the sole company to shut down operations in
Canada’s oil sands during the last crude price meltdown, has no
plans to repeat a move it now regrets, its top executive says.

Connacher’s Chief Executive Chris Bloomer said the December,
2008 decision to temporarily halt production at its Great Divide
thermal oil sands project was ill-considered, and production
will keep going even though weak crude prices are again hitting
profits.

Mar 26, 2015

Canada’s Alberta hikes taxes, fees as budget deficit returns

CALGARY (Reuters) – The Canadian province of Alberta said in its budget on Thursday it will hike fees, boost taxes, cut spending on healthcare and education, and tap its savings to overcome a massive drop in revenue from the oil industry.

The province, whose oil sands are the largest source of U.S. crude imports, said it expects to post a budget deficit of C$4.99 billion ($4 billion) for the fiscal year beginning April 1, and C$3.05 billion for the next, following a C$248 million surplus for the 2014/2015 fiscal year. It expects to return to surplus in the 2017-2018 fiscal year.

Mar 25, 2015

Alberta says balanced budget expected in fiscal 2017, taxes to rise

CALGARY, Alberta, March 24 (Reuters) – Alberta, the Canadian
province that is the largest source of U.S. crude oil imports,
will ask citizens to pay more for health care and cut the amount
of resource revenue used to fund government operations as it
looks to return to a balanced budget in fiscal 2017, Premier Jim
Prentice said on Tuesday.

The province, which has no sales tax and Canada’s lowest
personal tax burden, is looking to make up for a C$7 billion
($5.6 billion) revenue shortfall in the fiscal year beginning
April 1 as low oil prices slash its take from the energy
industry.

Mar 20, 2015

Canada police lay terrorism-related charges against Alberta youth

CALGARY, Alberta (Reuters) – Canadian police said on Friday they have laid two terrorism- related charges against an Edmonton, Alberta-area youth, with local media reporting he was allegedly seeking to travel to join Islamic State fighters.

The youth, whose name cannot be revealed under Canadian law, has been charged with attempting to leave the country to both participate in a terrorist group and commit an offence that is a terrorist activity, police said in a statement.

Mar 11, 2015

About 1,000 laid off by Husky oil sands contractor, union says

CALGARY, Alberta, March 11 (Reuters) – About 1,000
construction workers employed by a contractor at Husky Energy
Inc’s Sunrise oil sands project were laid off
unexpectedly on Wednesday, a union official confirmed.

Izzy Huygen, a Fort McMurray, Alberta, representative of the
Christian Labour Association of Canada, said many of the workers
had expected their jobs to last until summer but were informed
of the layoffs on Wednesday morning.

Feb 24, 2015

Canada’s Alberta expects surplus this year despite low oil

CALGARY, Alberta, Feb 24 (Reuters) – Alberta, the largest
oil exporter to the United States, said on Tuesday it still
expects to end the current fiscal year in surplus but warned the
full impact of lower crude prices won’t be felt until the next
fiscal year.

In its third-quarter budget update the Canadian province
said it expects to post a C$465 million ($368.9 million) budget
surplus for the 2014/2015 fiscal year that ends on March 31.

    • About Scott

      "Based in Calgary, Alberta, I've covered Canada's energy industry and the oil sands for the past five years for Reuters, and a decade before that for newspapers and other wire services."
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