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Dec 17, 2013

TransCanada expects Jan. 22 start for Gulf Coast pipeline

CALGARY, Alberta, Dec 17 (Reuters) – TransCanada Corp
expects its new 700,000-barrel-per-day Gulf Coast oil
pipeline to begin service on Jan. 22, Chief Executive Russ
Girling said in an interview on Tuesday.

The company is currently filling the Cushing, Oklahoma, to
Port Arthur, Texas, pipeline with the 3 million barrels of crude
oil needed before it can be placed into normal operation.

Dec 17, 2013

TransCanada readies for Gulf Coast pipeline start

CALGARY, Alberta, Dec 17 (Reuters) – TransCanada Corp
expects its new 700,000-barrel-per-day Gulf Coast oil
pipeline to begin service on Jan. 22, Chief Executive Russ
Girling said in an interview on Tuesday.

The company is currently filling the Cushing, Oklahoma, to
Port Arthur, Texas, pipeline with the 3 million barrels of crude
oil needed before it can be placed into normal operation.

Dec 12, 2013

Fortis to buy UNS Energy for about $2.5 bln

Dec 11 (Reuters) – Fortis Inc has reached a
friendly deal to buy Arizona-focused utility UNS Energy Corp
for about $2.5 billion in cash, the Canadian power
company said on Wednesday, as it looks to expand its presence in
the United States.

The deal, which will also see Fortis take on about $1.8
billion of UNS debt, highlights an increased focus in North
American markets on rate-regulated operations, over deregulated
merchant power.

Dec 10, 2013

Talisman Energy sells Colombia pipeline stake for $595 mln

CALGARY, Alberta, Dec 10 (Reuters) – Canadian oil producer
Talisman Energy Inc said on Tuesday it has agreed to
sell its stake in the 590,000-barrel-per-day Ocensa oil pipeline
in Colombia to an investment group led by Advent International
for about $595 million as the company focuses operations while
paring its debt.

Talisman, which faces pressure from shareholders to boost
profits and trim its widespread global operations, said the
offloading of its stake in the Colombian pipeline brings the
total proceeds from its asset sales program to $2.2 billion.

Nov 21, 2013

AIMCo’s head says BlackBerry proposals lacked a turnaround plan

CALGARY, Alberta (Reuters) – The head of one of Canada’s top pension funds confirmed on Thursday his firm was involved in talks over a potential buyout of BlackBerry Ltd but said he never saw a business plan he was confident would turn around the once-dominant smartphone maker.

Leo de Bever, chief executive of the C$70 billion ($66.6 billion) Alberta Investment Management Corp (AIMCo), said all of Canada’s biggest pension funds were involved in discussions over BlackBerry’s fate earlier this year as it looked to sell itself following the unsuccessful launch of a new line of phones.

Nov 13, 2013

Canada launches new attack against EU’s proposed dirty oil rules

CALGARY (Reuters) – Canada on Wednesday renewed its attack on the European Union’s plan to classify Canadian tar sands oil as particularly dirty and released a study questioning the data behind the controversial measure.

Canada has the world’s third-largest proven reserves of crude, much of which is locked in the tar sands of Alberta. Extracting the oil requires more energy than conventional production, a fact regularly highlighted by environmental campaigners.

Nov 6, 2013

Talisman Energy says has no immediate plans to split in two

CALGARY, Alberta, Nov 6 (Reuters) – Talisman Energy Inc
said it had no immediate plans to split itself in two
despite pressure from activist shareholders looking to boost
returns from the restructuring Canadian oil company.

Talisman, which reported a narrower third-quarter loss on
Wednesday, said it had examined the idea of separating its
operations in the Americas and Asia, an idea touted by some
investors for years, but concluded the time is not right for the
move.

Nov 5, 2013

Canada’s Encana to cut workforce, payout as gas prices stay low

CALGARY, Alberta, Nov 5 (Reuters) – Encana Corp,
Canada’s largest natural gas producer, said on Tuesday it will
cut about 20 percent of its workforce, slash its dividend, and
focus future spending on just five regions rich in oil and gas
liquids as it looks to move away from low-value natural gas
production.

The new plan, which includes the spin off of its historic
Alberta freehold lands into a separate company, is part of new
Chief Executive Doug Suttles’ push to boost earnings and raise
cash flow as the company faces the prospect that natural gas
prices will remain weak for years to come.

Oct 18, 2013

TransCanada says two northern Alberta customers still lack gas

CALGARY, Alberta, Oct 18 (Reuters) – TransCanada Corp
said two of its customers in northern Alberta were
still without gas deliveries on Friday after a pipeline break
forced some of the Canadian oil sands’ biggest producers to cut
back their output.

The rupture on TransCanada’s 1.6 billion cubic foot per day
North Central Corridor pipeline occurred on Thursday in a remote
area about 140 kilometers (90 miles) west of Fort McMurray,
Alberta and disrupted supplies for much of the day.

Oct 17, 2013

Oil sands production cut after natural-gas line ruptures

CALGARY, Alberta, Oct 17 (Reuters) – Some of Canada’s
largest oil sands producers began scaling back production on
Thursday after their natural gas supplies were cut back due to a
pipeline rupture on TransCanada Corp’s regional Nova
pipeline network.

Suncor Energy Inc said it is slowing operations at
its oil sands projects north of Fort McMurray, Alberta, where
production averaged 365,000 barrels per day last month.

    • 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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