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Jan 22, 2014

TransCanada starts shipping oil on new U.S. Gulf Coast pipeline

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.

Dec 23, 2013

Canadian aboriginals dig in as pipeline decision nears

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.

Dec 20, 2013

Canada regulator urges approval of oil-export pipeline

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.

Dec 19, 2013

Day of decision for Canada’s Northern Gateway pipeline

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.

Dec 18, 2013

Day of decision for Canada’s Northern Gateway pipeline

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.

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.

    • 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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