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Mar 27, 2014

In Canada snowdrifts, Coen brothers’ ‘Fargo’ gets cable TV treatment

CALGARY, Alberta (Reuters) – A particularly punishing winter, even by Canadian standards, has served well the new cable television series “Fargo,” a reimagining of the blood-soaked black comedy film of the same name by brothers Joel and Ethan Coen.

The 10-episode single-season series, which debuts on April 15 on Twenty-First Century Fox Inc’s FX cable network, is a new story with different characters, but leans heavily on the frigid Minnesota setting, death, Midwestern folksiness and deadpan humor of its Oscar-winning namesake.

Mar 20, 2014

Energy industry keeps wary eye on Alberta political turmoil

CALGARY, Alberta, March 20 (Reuters) – Alberta’s powerful
oil and gas industry is keeping a close watch on the uncertainty
sparked by Alison Redford’s abrupt resignation as leader of the
Canadian province, even though no change is expected in energy
policy for now.

Redford stepped down on Wednesday as premier of the ruling
Progressive Conservative party following a controversy over her
travel expenses and caucus infighting that left her party
floundering in the polls.

Mar 17, 2014

Alberta government shaken by defections as popularity fades

CALGARY, Alberta (Reuters) – Alberta’s Progressive Conservative government, which has run the oil-rich Canadian province for more than four decades, suffered another defection on Monday in what was the latest protest against the leadership of Premier Alison Redford.

Donna Kennedy-Glans, a junior member of Redford’s cabinet, said on Monday she would resign as associate minister for electricity and renewable energy and sit as an independent in the provincial legislature.

Mar 6, 2014

Canadian Natural Resources profit rises on higher output

March 6 (Reuters) – Canadian Natural Resources Ltd,
Canada’s No. 2 oil and gas company, said on Thursday it has a
solution for the problems that led to a months-long spill of
tar-like bitumen at a northern Alberta oil sands property.

The company, which reported a 17 percent rise in
fourth-quarter profit and hiked its dividend for the second time
in four months, also said it expects to complete an expansion of
its Horizon oil sands project earlier than expected.

Feb 20, 2014

TransCanada mulls next Keystone move as bigger pipeline beckons

TORONTO/CALGARY, Feb 20 (Reuters) – TransCanada Corp
said on Thursday it is weighing how to proceed with its
controversial Keystone XL pipeline after a U.S. legal setback,
even as it pushes ahead with a far larger line that could bring
oil sands crude to international markets.

A Nebraska court on Wednesday voided the governor’s decision
to allow the Keystone XL pipeline to pass through the Midwestern
state, threatening yet another delay for a project that would
link Canada’s oil sands with refineries in Texas.

Feb 14, 2014

Enbridge pipeline joins Keystone XL in wait for U.S. permit

CALGARY, Alberta (Reuters) – A second Canadian pipeline project to the United States is now facing delays as operator Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz) awaits a U.S. presidential permit, a development that may strain prices for Alberta oil sands crude and relations between the two countries.

Enbridge, Canada’s largest pipeline company, said it no longer expects to get the permit amendment it needs to expand its Alberta Clipper line in time to start pumping extra oil on it at midyear as it had planned. It applied for the permit in November 2012.

Feb 14, 2014

Enbridge pipeline expansion delayed by wait for U.S. permit

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.

Feb 12, 2014

Husky Energy makes first major Canadian crude sale to India

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.

Feb 7, 2014

Baytex to buy Australia’s Aurora Oil & Gas at big premium

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.

Jan 31, 2014

TransCanada lauds U.S. review of Keystone XL project

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
controversial pipeline.

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.

    • 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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