CALGARY, Alberta (Reuters) – The world economy faces a long, hard slog toward recovery and could slide into deflation and financial instability if leaders fail to deliver on promises of reform, top policy markers said on Friday.
At a conference in Calgary, White House special adviser Paul Volcker warned it would likely take years for the American economy to fully recover and three to six years to repair the global banking system.
CALGARY, Alberta, Aug 13 (Reuters) – Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz)
lowered capacity on its 490,000 barrel-per-day Line 5, the main
alternative to its Michigan pipeline that ruptured last month,
but said on Friday it doesn’t expect the move to reduce
shipments on the key line.
Enbridge cut rates on the line to Sarnia, Ontario, in order
to carry out additional safety checks after a 5-foot gash
opened in the side of the 190,000 barrel per day Line 6B,
spilling more than 800,000 gallons of oil sands crude into a
Michigan river system.
CALGARY, Alberta, Aug 12 (Reuters) – Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz)
has not been forced to ration oil shipments on its North
American pipeline system because of its Michigan oil spill, a
company executive said on Thursday.
Steve Wuori, president of Enbridge’s liquids pipelines
division, said space on some of the Canadian company’s other
lines is tight following the July 26 rupture, which spilled
more than 800,000 gallons of oil sands crude into a Michigan
river system near Kalamazoo.
CALGARY, Alberta, Aug 3 (Reuters) – Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz)
said on Tuesday it has removed two-thirds of the more than
800,000 gallons of oil spilled into a Michigan creek last week
when one of its pipelines ruptured, as U.S. regulators reported
the waters of the Kalamazoo River have begun to clear.
Susan Hedman, regional administrator for the U.S.
Environmental Protection Agency, said little oil sheen remained
on the Kalamazoo eight days after clean-up efforts began.
DETROIT/CALGARY (Reuters) – Enbridge Inc’s chief executive said on Friday he was unable to say when the company would be able to restart the Michigan pipeline that ruptured earlier this week, spilling more than 800,000 gallons of oil.
There was “no forward push of the oil” toward Lake Michigan by Friday, Ralph Dollhopf, the on-scene coordinator for the U.S. Environmental Protection Agency, told reporters.
CALGARY, Alberta (Reuters) – Four of Canada’s biggest oil sands companies posted higher profits on Thursday, on stronger oil prices, as controversy builds over the environmental costs of tapping North America’s biggest crude reserves.
Suncor Energy Inc, the country’s biggest oil producer and refiner, No. 2 competitor Imperial Oil Ltd and Cenovus Energy Inc, the third largest independent oil producer, raised their output in the second quarter and moved forward on major expansion plans.
CALGARY, Alberta, July 29 (Reuters) – TransCanada Corp
(TRP.TO: Quote, Profile, Research, Stock Buzz), the county’s No. 1 pipeline and power company, said
on Thursday it does not expect significant delays to its $7
billion Keystone XL pipeline project to the U.S. Gulf Coast.
The company said it expects the U.S. State Department,
responsible for approving the project, will stick by a 90-day
extension to the amount of time other federal agencies have to
comment on the line’s final environmental impact statement.
CALGARY, Alberta, July 29 (Reuters) – Shares of Cenovus
Energy Inc (CVE.TO: Quote, Profile, Research) fell more than 5 percent on Thursday after
the oil sands producer missed analyst forecasts due largely to
weakness in its refining segment.
Cenovus. Canada’s No. 3 independent oil company, reported
an 8 percent rise in quarterly profit, helped mainly by higher
oil sands output and one-time gains. It said it was on track to
meet its production and cash flow targets for the year.
CALGARY, Alberta, July 28 (Reuters) – Husky Energy Inc
(HSE.TO: Quote, Profile, Research, Stock Buzz) posted a 23 percent drop in quarterly profit on
Wednesday, missing analyst estimates, and lowered its output
forecast largely because of falling production at its White
Rose project off the Newfoundland coast.
Shares of Canada’s No. 3 integrated oil production and
refining company fell nearly 4 percent after it said it would
cut production targets due to the rapid decline in output at
White Rose as well as the slow ramp-up of production from its
new North Amethyst field, also off Newfoundland’s Atlantic
CALGARY, Alberta (Reuters) – Enbridge Inc, which is currently dealing with a ruptured pipeline and oil spill in Michigan, said on Wednesday its second-quarter operating profit rose 19 percent as new lines entered service.
The company, Canada’s No. 2 pipeline operator, also said Enbridge Energy Partners, which operates most of Enbridge’s U.S. assets, would acquire natural gas gathering and processing facilities in southern Oklahoma and the Texas Panhandle from Atlas Pipeline Partners for $682 million.