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Oct 4, 2011

Enbridge eyes Canada LNG exports

CALGARY, Alberta, Oct 4 (Reuters) – Pipeline operator
Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz) is in talks to export liquefied natural
gas from Canada to Asia, joining a lengthening list of
companies looking to tap into a more lucrative market.

Enbridge would be interested in LNG projects being
developed on British Columbia’s northern Pacific coast,
executive vice president Al Monaco said on Tuesday, as ample
supply pushed North American natural gas prices to 11-month
lows.

Oct 3, 2011

Soft energy prices challenge Alberta’s new premier

CALGARY, Alberta, Oct 3 (Reuters) – Alison Redford, the new
premier of Alberta, may be hard pressed to narrow the Canadian
province’s budget deficit as softer energy prices cut into the
revenue of the largest oil exporter to the United States.

Redford, 46, a former human rights lawyer in her first term
in the legislature, emerged as a surprise winner on Sunday in
the race to replace outgoing Premier Ed Stelmach. He resigned
on the heels of infighting among his Progressive Conservative
government and a lingering rift with the energy industry over
an ill-fated attempt to raise oil and gas royalties.

Sep 18, 2011

Future shock shackles Canadian oil stocks

CALGARY, Alberta, Sept 18 (Reuters) – Even though Canada’s
big oil producers are raking in profits on high crude prices
and stellar refining margins, their share prices are
languishing as investors fret about the economic risks that
could slow global petroleum demand.

At the top of the list is fear of a possible European debt
default, a concern that is particularly acute in the oil
markets. As a consequence, the Toronto Stock Exchange’s energy
group is 27 percent below its year high, the biggest
drop among the index’s 10 main sectors, and the shares of most
big Canadian oil companies are trading close to their 52-week
lows.

Sep 7, 2011

Shell plans Alberta LNG plant to supply truck fuel

CALGARY, Alberta, Sept 7 (Reuters) – Royal Dutch Shell Plc
(RDSa.L: Quote, Profile, Research, Stock Buzz) will build a liquefied natural gas plant in Western
Canada as it looks to boost demand for its abundant gas
reserves by promoting LNG as a truck fuel.

Shell wants to build a small-scale LNG plant at an existing
gas-processing facility in the province of Alberta. The plant
would supply the local market with fuel for trucks.

Aug 18, 2011

Suncor reviewing new U.S. sanctions on Syria

CALGARY, Alberta, Aug 18 (Reuters) – Suncor Energy Inc
(SU.TO: Quote, Profile, Research, Stock Buzz) is reviewing new U.S. sanctions imposed on the Syrian
government on Thursday, a spokeswoman for the Canadian oil
company said.

The company operates the C$1.2 billion ($1.21 billion) Ebla
project in Syria, which supplies natural gas to the domestic
market. Suncor will adhere to any of the sanctions that affect
its operations, Kelli Stevens, a spokeswoman for the company
said.

Jul 28, 2011

Canadian oil profits marred by production woes

CALGARY, Alberta, July 28 (Reuters) – Strong oil prices
boosted second-quarter profit at three of Canada’s biggest oil
companies, they reported on Thursday, but production problems,
pipeline woes and political turmoil clouded the results.

Suncor Energy Inc’s (SU.TO: Quote, Profile, Research, Stock Buzz) earnings were hampered by a
C$514 million ($540 million) charge to write down the value of
its assets in war-torn Libya, while Talisman Energy Inc
(TLM.TO: Quote, Profile, Research, Stock Buzz) lowered its production forecast because of
slower-than-expected progress on three projects. Imperial Oil
Ltd (IMO.TO: Quote, Profile, Research, Stock Buzz), meanwhile, had to deal with the closure of a key
pipeline serving an oil field in northern Canada.

Jul 21, 2011

Encana says mulling international expansion

CALGARY, Alberta, July 21 (Reuters) – Encana Corp (ECA.TO: Quote, Profile, Research, Stock Buzz)
said on Thursday it is eyeing a return to the international
arena after spending much of the last decade winnowing its
widespread oil and gas businesses into a tightly focused North
American natural-gas producer.

Randy Eresman, chief executive of Canada’s largest natural
gas producer, said on a conference call that his company is in
the early stages of looking abroad for shale gas deposits where
it can apply technologies it has honed in North America.

Jul 20, 2011

China’s CNOOC to buy Opti Canada in oil sands push

BEIJING/CALGARY, Alberta, July 20 (Reuters) – China’s top
offshore oil producer, CNOOC Ltd (0883.HK: Quote, Profile, Research, Stock Buzz), has agreed to buy
struggling Opti Canada Inc (OPC.TO: Quote, Profile, Research, Stock Buzz) for $34 million and $2
billion in debt, bolstering its position in the Canadian oil
sands.

The deal, announced on Wednesday, ends Opti’s two-year
search for a buyer willing to absorb its crushing debt and
brings CNOOC a 35 percent stake in the underperforming Long
Lake oil sands project in northern Alberta, which has run well
under its capacity since opening two years ago.

Jul 15, 2011

Shell seeks sale of Canadian Mackenzie gas assets

CALGARY, Alberta (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research, Stock Buzz) has put its stake in the C$16.2 billion ($16.8 billion) Mackenzie gas project up for sale, the first crack in the partnership set up to develop gas reserves in Canada’s arctic and build a pipeline to take the gas south.

Shell is seeking bidders for its 950 billion cubic foot Niglintgak natural gas field in the Mackenzie River Delta, as well as its stake in the planned pipeline to southern markets.

Jul 15, 2011

Crescent Point may hike spending for new oil field

CALGARY, Alberta, July 15 (Reuters) – Crescent Point Energy
Corp (CPG.TO: Quote, Profile, Research, Stock Buzz) may raise capital spending by 13 percent to
acquire additional lands and boost drilling at a new northern
Alberta oil discovery, Canada’s No. 7 independent oil producer
said late on Thursday.

Crescent Point said it has spent 18 months acquiring 380
square miles (984 square km) of exploration lands in the Swan
Hills region of northern Alberta that lie over the Beaverhill
Lake formation, with much of the property held in a joint
venture with privately held Coral Hill Energy Ltd.

    • 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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