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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.

Feb 23, 2015

Shell shelves 200,000-bpd Pierre River oil sands mining project

CALGARY, Alberta, Feb 23 (Reuters) – Royal Dutch Shell Plc
is shelving plans to build a new oil sands mine in
northern Alberta, the largest such project to be deferred as
producers struggle with low energy prices.

The company said on Monday it is withdrawing its regulatory
application for the 200,000-barrel-per-day Pierre River project.
Instead, it will concentrate on boosting the profitability of
its existing 255,000-bpd oil sands operations.

Feb 18, 2015

Talisman Energy shareholders approve Repsol’s $8.3 bln offer

CALGARY, Alberta, Feb 18 (Reuters) – Talisman Energy Inc
common shareholders on Wednesday voted to approve an
$8.3 billion offer for the Canadian oil and gas producer from
Repsol SA, clearing the way for the Spanish company to
acquire Talisman’s worldwide operations.

Talisman common and preferred shareholders both voted nearly
unanimously in favor of Repsol’s Dec. 16 offer to pay $8 per
share for the company, a 56 percent premium to the day-prior
closing price for the company on the Toronto Stock Exchange.
Repsol will also assume Talisman’s $4.7 billion long-term debt.

Feb 17, 2015

CN Rail northern Ontario derailment clean by late Tuesday

CALGARY, Alberta, Feb 17 (Reuters) – Canadian National
Railway Co said on Tuesday it has nearly completed
repairs on a stretch of its mainline track in northern Ontario
after a crude train derailed on the weekend, spilling oil and
causing several of the cars to burn.

The company said in a notice that the site, about 80
kilometers (50 miles) south of Timmins, Ontario, is expected to
be cleared by 10 p.m. local time. It did not say if the line,
which runs between Montreal and Winnipeg, Manitoba, would
immediately re-open once the clean up was complete.

Feb 13, 2015

Canada confirms new case of mad cow disease, cattle prices rise

OTTAWA/CALGARY (Reuters) – Canada confirmed its first case of mad cow disease since 2011 on Friday, but said the discovery should not hit a beef export sector worth C$2 billion ($1.6 billion) a year.

The news, however, helped boost U.S. cattle prices.

The Canadian Food Inspection Agency (CFIA) said no part of the animal, a beef cow from Alberta, had reached the human food or animal feed systems.

Feb 13, 2015

Canada confirms case of mad cow disease, confident exports safe

OTTAWA/CALGARY (Reuters) – Canada confirmed its first case of mad cow disease since 2011 on Friday but expressed confidence the discovery would not hit a beef export sector worth C$2 billion ($1.6 billion) a year.

The Canadian Food Inspection Agency (CFIA) said no part of the affected animal, a beef cow from Alberta, had reached the human food or animal feed systems.

Jan 29, 2015

Canadian Oil Sands fourth-quarter profit tumbles, cuts dividend

CALGARY, Alberta, Jan 29 (Reuters) – Canadian Oil Sands Ltd
, the largest-interest owner in the Syncrude oil sands
project, slashed its dividend and further reduced 2015 capital
spending on Thursday as fourth-quarter profit dropped 87 percent
due to lower oil prices.

The company cut its dividend to 5 Canadian cents a share for
the first quarter of 2015, down from 20 Canadian cents.

Jan 15, 2015

Canada pushes back budget to April due to market instability

CALGARY, Jan 15 (Reuters) – The Canadian government will
unveil its budget this year later than it usually does, waiting
at least until April because of market volatility, Finance
Minister Joe Oliver said on Thursday.

“Given the current market instability, I will not bring
forward our budget earlier than April. We need all the
information we can obtain before finalizing our decisions,”
Oliver said in the text of a speech he was giving in Calgary.

    • 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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