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Jun 22, 2013

Floods shut down Canada’s oil capital, two killed

CALGARY, Alberta (Reuters) – The heaviest floods in decades shut down the Canadian oil capital of Calgary on Friday, forcing the evacuations of tens of thousands of residents and shutting the Alberta city’s downtown core.

The bodies of two men were found near High River, Alberta, a town of 13,000 located about 60 km (37 miles) south of Calgary. The Royal Canadian Mounted Police said two other people were missing, including a woman who was swept away with her camper.

Jun 21, 2013

Floods shut down Canada’s oil capital, four may be dead

CALGARY, Alberta (Reuters) – The heaviest floods in decades shut down the Canadian oil capital of Calgary on Friday, with an evacuation of the downtown core and tens of thousands of residents forced to leave their homes.

Police said four people may have died in the town of High River, located about 60 km (37 miles) south of Calgary, including a woman who was swept away with her camper and a man seen falling from a canoe in the swollen Highwood River.

Jun 21, 2013

Floods cripple Canada’s oil capital, tens of thousands displaced

CALGARY, Alberta (Reuters) – The heaviest floods in decades shut down the Canadian oil capital of Calgary on Friday, closing roads and bringing down bridges across southern Alberta, and forcing tens of thousands of residents to leave their soggy homes.

There were no reports of deaths or injuries, even as people retreated rapidly from flooded areas by road, boat or helicopter.

Jun 11, 2013

Encana names BP Gulf spill veteran as its new CEO

CALGARY/HOUSTON (Reuters) – Encana Corp (ECA.TO: Quote, Profile, Research, Stock Buzz) named former BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) executive Doug Suttles, who played a major role in responding to BP’s disastrous 2010 Gulf oil spill, as its new chief executive on Tuesday as Canada’s largest natural-gas producer searches for a new course following years of strategic missteps.

Suttles, a nearly three-decade veteran of the oil and gas industry, is taking the reins from interim CEO Clayton Woitas, a board member who replaced former CEO Randy Eresman temporarily when Eresman left the company unexpectedly in early January. Suttles was also named an Encana director.

Jun 11, 2013

Encana names former BP executive as CEO

CALGARY, Alberta, June 11 (Reuters) – Encana Corp
named former BP Plc executive Doug Suttles as its new
president and chief executive on Tuesday as Canada’s largest
natural-gas producer searches for a new course following years
of strategic missteps.

Suttles, a nearly three-decade veteran of the oil and gas
sector, is taking the reins from interim CEO Clayton Woitas, a
board member who replaced former CEO Randy Eresman temporarily
when Eresman left the company unexpectedly in early January.
Suttles was also named an Encana director.

Jun 5, 2013

Penn West names new CEO, sets dividend cut and layoffs

TORONTO/CALGARY, June 5 (Reuters) – Canada’s Penn West
Petroleum Ltd named a former Marathon Oil Corp
executive as CEO and said it would slash its dividend, cut 10
percent of its staff and review strategic options such as asset
sales and joint ventures.

The Calgary-based oil and gas producer said late on Tuesday
that it had appointed former Marathon Chief Operating Officer
David Roberts as president and chief executive officer,
effective June 19. He replaces Murray Nunns, who will retire
from the company on July 1.

May 31, 2013

British Columbia rejects Enbridge Northern Gateway pipeline

CALGARY, Alberta, May 31 (Reuters) – The government of
British Columbia said on Friday it cannot support construction
of Enbridge Inc’s C$6 billion ($5.8 billion) Northern Gateway
pipeline project because it believes the company has not
adequately spelled out how it would respond to oil spills from
the line.

In its final written submission to the Joint Review Panel
charged with recommending whether the project should proceed,
the province’s Liberal government said Enbridge’s response plans
for land and marine spills from the line which will carry
525,000 barrels of oil sands crude from Alberta to the port of
Kitimat, have not yet been firmed up.

May 15, 2013

Liberal win in Canada’s British Columbia may raise pipeline odds

CALGARY, Alberta, May 15 (Reuters) – The surprise
re-election of the ruling Liberal party in the Canadian province
of British Columbia might give a boost to energy industry plans
to build oil pipelines to Canada’s Pacific coast, lines the
Liberals’ opponents had pledged to block.

Although polls had widely forecast a resounding victory for
the left-leading New Democratic Party after 12 years of Liberal
rule, voters returned the government of Premier Christy Clark to
power with a strengthened majority, although Clark lost her own
seat to an NDP challenger.

May 8, 2013

Enbridge concedes pipeline expansion plans may face opposition

By Scott Haggett and Bhaswati Mukhopadhyay

(Reuters) – Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz), Canada’s largest pipeline company, said on Wednesday it is still hoping for speedy regulatory approval for a planned expansion of an oil pipeline to the United States despite the prolonged delays faced by the rival Keystone XL line.

The company, which said its first-quarter operating profit rose nearly a third, is seeking an amended presidential permit for its plan to double the size of its 400,000 barrel per day Alberta Clipper pipeline, which takes oil sands crude from Alberta to Superior, Wisconsin.

Apr 30, 2013

Suncor shares jump 5 pct on dividend hike, earnings beat

CALGARY, Alberta, April 30 (Reuters) – Shares of Suncor
Energy Inc jumped nearly 5 percent on Tuesday after
Canada’s largest oil and gas producer took steps to increase
returns to shareholders and reported first-quarter earnings that
surpassed expectations.

Suncor said late on Monday it would raise its quarterly
dividend 54 percent to 20 Canadian cents per share from 13 cents
and launch its repurchase plan to buy back C$2 billion ($1.97
billion) of its own shares, which will run from May 2 until
September 19.

    • 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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