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May 6, 2015

Left turn in Canada’s oil-rich Alberta stuns energy industry

CALGARY, Alberta, May 6 (Reuters) – Canadian oil and gas
shares tumbled and the country’s main stock index hit a
one-month low on Wednesday after the left-wing New Democratic
Party surged to power in the oil-rich province of Alberta on
promises that included energy industry reforms.

“Even now our inboxes are filling with messages expressing
something between disbelief and dismay,” analyst Andrew Bradford
of Raymond James brokerage said after the party won an election
on Tuesday to end 44 years of Conservative rule.

May 6, 2015

Left turn in Canada’s oil-rich Alberta leaves investors reeling

CALGARY, Alberta, May 6 (Reuters) – A seismic political
shift in Canada’s oil-producing heartland of Alberta has left
voters, investors and oil executives braced for change as a
rookie left-wing government promises major reforms after 44
years of Conservative rule.

The New Democratic Party (NDP) swept to crushing victory in
the Western Canadian province on Tuesday on a pledge to review
oversight of the oil and gas sector, capitalizing on voter anger
over low oil prices, entitled politicians and government budget
woes.

May 6, 2015

Canada’s Alberta takes hard left turn with NDP win

CALGARY, Alberta, May 5 (Reuters) – The left-wing New
Democrats won election in the Canadian province of Alberta on
Tuesday, ending the 44-year run by the Progressive Conservatives
amid promises to review oversight of the oil and gas sector in
the home of Canada’s oil sands.

At the end of a month-long campaign, the New Democratic
Party (NDP), which has never held more than 16 seats in the
87-seat provincial legislature, will lead a majority government.
It held a commanding lead in early results, leading or elected
in 54 seats at 9 p.m. local time while the Conservatives were
ahead in just 13, according to CBC TV.

May 5, 2015

Canada’s Alberta looks poised for change on election day

CALGARY, Alberta (Reuters) – The oil-rich Canadian province of Alberta could be poised for its first new government in 44 years on Tuesday as voters appear set to move away from the right-wing policies of the ruling Progressive Conservative and turn sharply left.

At the end of a month-long campaign, the New Democratic Party (NDP), which has never held more than 16 seats in the 87-seat provincial legislature, holds a commanding lead in the polls heading into the election.

May 4, 2015

Alberta’s possible pivot to the left alarms Canadian oil sector

CALGARY, Alberta (Reuters) – Canada’s oil-rich province of Alberta is on the cusp of electing a left-wing government that can make life harder for the energy industry with its plans to raise taxes, end support for key pipeline projects and seek a bigger cut of oil revenues.

Polls suggest Tuesday’s election is set to end the Conservative’s 44-year reign in the province that boasts the world’s third-largest proven oil reserves and now faces recession because of the slide in crude prices.

May 1, 2015

Polls show Conservatives in oil-rich Alberta may be set for defeat

CALGARY, May 1 (Reuters) – The center-right government of
Alberta is trailing badly in polls ahead of Tuesday’s election,
setting the stage for a possible left-wing victory in the
province, home to Canada’s oil sands and the largest source of
U.S. crude imports.

A poll released on Friday showed the left-of-center New
Democratic Party (NDP) with 44 percent support in Alberta, where
the Progressive Conservatives have ruled for 44 consecutive
years.

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.

    • 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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