CALGARY, Alberta, Feb 14 (Reuters) – Enbridge Inc’s
plan to expand the capacity of its Canada-to-U.S. Alberta
Clipper pipeline by 120,000 barrels per day have hit a snag, the
company said on Friday, as getting a U.S. presidential permit
for the project is taking longer than expected.
Enbridge, Canada’s largest pipeline company, which also
reported a lower than expected quarterly profit on Friday, said
it no longer expects to get the permit amendment for the Alberta
Clipper expansion in time to start pumping more oil at midyear,
as it had planned.
CALGARY, Alberta, Feb 12 (Reuters) – Husky Energy Inc
, Canada’s third-largest integrated oil producer, said
on Wednesday it made the first major sale of Canadian crude oil
to India in the fourth quarter, even as its profit in the period
dropped on weak refining results.
The company, controlled by Hong Kong billionaire Li
Ka-shing, sold 1 million barrels of crude oil from its White
Rose field, off the coast of Newfoundland, in the quarter to
state-owned refiner Indian Oil Corp.
CALGARY, Alberta/SYDNEY (Reuters) – Canadian heavy oil producer Baytex Energy Corp (BTE.TO: Quote, Profile, Research, Stock Buzz) has agreed to buy Aurora Oil & Gas Ltd (AUT.AX: Quote, Profile, Research, Stock Buzz) for C$2.6 billion ($2.4 billion) including debt, targeting the Australian company’s Texas shale oil assets and driving its shares to a 15-month high.
Baytex is offering A$4.10 for each share of the Perth-based oil producer, a 52 percent premium to its average price in the past week, valuing the company at A$1.84 billion ($1.65 billion), Aurora said in a statement.
CALGARY/VANCOUVER Jan 31 (Reuters) – TransCanada Corp’s
chief executive welcomed a favorable U.S. environmental
review of the company’s Keystone XL project on Friday, calling
the report an important milestone for the final approval of the
The U.S. State Department issued its long-awaited Final
Supplemental Environmental Impact Statement on the $5.3 billion
pipeline project on Friday. It concluded that allowing the line
to proceed would not raise the pace of development in Canada’s
oil sands, a key argument of the pipeline’s opponents.
CALGARY, Alberta, Jan 31 (Reuters) – TransCanada Corp
is anticipating a favorable review of the Keystone XL
pipeline when the U.S. State Department issues its final
environmental impact statement on the controversial project, a
move expected as soon as Friday.
Reuters reported late on Thursday that the State Department
was poised to release the Final Environmental Impact Statement
for the line. The release will be followed by a 90-day public
comment period but a final decision on the line from U.S.
President Barack Obama is not expected for months.
CALGARY, Alberta, Jan 22 (Reuters) – TransCanada Corp
on Wednesday began delivering crude through a major new
pipeline from Oklahoma to the Gulf Coast, commissioning a $2.3
billion project expected to help eliminate a bottleneck that has
warped the U.S. oil market for three years.
For company officials, the launch of the
700,000-barrel-per-day conduit — originally conceived as the
southern leg of the contentious Keystone XL line from Canada –
was a chance to claim a milestone in the drive toward reducing
U.S. reliance on foreign oil, hailing the project for delivering
cheaper crude to Gulf refiners and creating thousands of U.S.
CALGARY, Alberta, Jan 22 (Reuters) – TransCanada Corp
said on Wednesday it is shipping crude oil on the
700,000-barrel-per-day Gulf Coast pipeline, a $5.3 billion
project expected to help eliminate a bottleneck that has warped
the U.S. oil market for three years.
The new line will take Canadian crude from TransCanada’s
existing Keystone line and U.S. crude oil from the bloated
Cushing, Oklahoma, storage hub to the cluster of refineries on
the Gulf Coast of Texas.
CALGARY/VANCOUVER, Dec 23 (Reuters) – Canada’s push to build
its first major conduit for shipping oil to Asia took a step
forward last week, but the government’s fractious relations with
the country’s aboriginal First Nations still loom as a
formidable obstacle to the project.
Native groups in British Columbia are promising legal action
and civil unrest after regulators on Thursday gave their
blessing to Enbridge Inc’s C$7.9 billion ($7.4 billion)
Northern Gateway pipeline. That could scupper the project
outright, or at least delay construction of the 1,177-kilometer
(730-mile) line for years.
CALGARY/VANCOUVER, Dec 19 (Reuters) – Canadian regulators
urged the government to approve the country’s first overseas
oil-export project on Thursday, concluding that Enbridge Inc’s
C$7.9 billion (US$7.4 billion) Northern Gateway
pipeline plan posed little risk to the environment if the
company complied with some 200 conditions.
Two years after a panel of environmental and energy
regulators began hearings into the project, it sided against the
line’s many opponents and recommended the completion of a
project that would allow Canada to expand sales of crude
extracted from its oil sands to Asia.
CALGARY/OTTAWA, Dec 18 (Reuters) – Enbridge Inc
will learn on Thursday whether Canadian regulators will
recommend approval of its proposed C$6 billion ($5.7 billion)
Northern Gateway oil pipeline, a project that has raised fierce
opposition by environmentalists and aboriginals.
The joint review panel’s decision is the first major
regulatory hurdle for the project, which would carry crude from
Alberta’s oil sands to Canada’s west coast for shipping to
energy-hungry Asia. The federal government is eager to develop
new markets for Canadian energy to reduce the country’s
dependence on the United States.