CALGARY, Alberta (Reuters) – Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) said on Monday that Sinopec Corp (600028.SS: Quote, Profile, Research, Stock Buzz), China’s top refiner, had agreed to buy a 49 percent stake in its North Sea operations for $1.5 billion as the Canadian company looks to strengthen a balance sheet battered by weak natural gas prices.
Talisman, Canada’s No. 6 oil and gas exploration company, will form a joint venture with Sinopec to operate the assets, which produced 89,000 barrels per day of oil and 43 million cubic feet per day of natural gas in the first quarter of 2012.
CALGARY, Alberta, July 20 (Reuters) – Enbridge Inc
moved to assuage critics of its controversial C$5.5 billion
($5.4 billion) Northern Gateway pipeline plan on Friday by
adding safety measures that will increase the project’s cost by
as much as C$500 million.
The measures include: increasing the thickness of the
pipeline’s walls; adding thicker pipe at water crossings;
increasing the number of shut-off valves; and installing leak
detection systems, the company said.
WASHINGTON/CALGARY, Alberta, June 15 (Reuters) – The scope
of a planned environmental review of the Keystone XL oil
pipeline from Canada could go beyond a small disputed portion in
Nebraska and threatens to delay the project further, its
Republican backers in Congress said on Friday.
The State Department asked on Friday for public comments by
the end of July to help determine the scope of an environmental
review ordered earlier this year for the controversial pipeline.
The review is designed to supplement a “final” environmental
impact report issued last August.
CALGARY, Alberta, June 5 (Reuters) – TransCanada Corp
will build a C$4 billion ($3.8 billion) pipeline to
serve Royal Dutch Shell Plc’s planned liquefied natural
gas plant on British Columbia’s northern coast, the company said
TransCanada, Canada’s No. 1 pipeline company, said it would
design and build a 700-kilometer (434-mile) line capable of
shipping 1.7 billion cubic feet of gas per day from Dawson Creek
in northeast British Columbia to Kitimat, where three LNG
plants, including Shell’s facility, are planned.
CALGARY/VANCOUVER June 4 (Reuters) – Air Canada
remains committed to entering the low-cost segment of the
airline industry, possibly by starting its own low-cost carrier
or through a partnership, the company’s chief executive said,
despite employee concerns about such a venture.
A low-cost carrier will help the 75-year-old airline, which
is Canada’s biggest, cut costs and make it more competitive with
increasing numbers of low-cost carriers around the world, CEO
Calin Rovinescu said at the airline’s annual meeting on Mon day.
CALGARY, Alberta/WINNIPEG, Manitoba (Reuters) – Shareholders of Canada’s largest grain handler, Viterra Inc (VT.TO: Quote, Profile, Research, Stock Buzz), on Tuesday voted overwhelmingly in favor of a friendly takeover bid by Swiss commodities trader Glencore International Plc (GLEN.L: Quote, Profile, Research, Stock Buzz), pushing the biggest deal in years for the global ag sector closer to reality.
The deal was supported by 99.8 percent of shareholders, far more than the required two-thirds majority.
CALGARY, Alberta, May 28 (Reuters) – Royal Dutch Shell Plc
has put an Alberta oil sands project on the block, six
years after acquiring it as part of a C$2.4 billion ($2.3
billion) acquisition near the height of the last Canadian energy
Shell aims to sell its Orion steam-driven project in
northeastern Alberta. Regulators have granted Shell approval for
two 10,000 bpd production phases, though current production is
just 5,000 bpd, according to Scotia Waterous, the oil major’s
financial adviser in the sales process.
CALGARY, May 17 (Reuters) – Canadian Pacific Railway Ltd
Chief Executive Fred Green c onceded defeat i n a long
bitter proxy battle with New York activist shareholder William
Ackman on Thursday, res igning from his job and clearing the way
for a management overhaul at the country’s second-biggest
The boardroom coup, a rarity in Canada’s conservative
corporate culture and particularly for such a venerable company,
burnishes Ackman’s reputation as a tenacious activist investor.
TORONTO/CALGARY, Alberta (Reuters) – Enbridge Inc, Canada’s No. 2 pipeline company, reported a 14 percent jump in quarterly earnings on Wednesday and said it remains committed to building the controversial C$5.5 billion ($5.5 billion) Northern Gateway pipeline despite fierce opposition from communities along the route.
At its annual meeting in Toronto on Wednesday, the Calgary-based company was greeted by protesters from environmental groups and from some of the British Columbia aboriginal groups that have staunchly opposed the project over worries that oil spills could contaminate their water supplies.
CALGARY, Alberta, May 4 (Reuters) – Canadian Natural
Resources Ltd, the country’s largest independent oil
producer, said on Friday it is holding the line on costs as it
expands in the northern Alberta oil sands, the latest producer
to play down fears of a new round of hyperinflation in the
The company expects to spend nearly C$2 billion ($2.01
billion) this year advancing a plan to increase production
capacity at its Horizon oil sands project to 250,000 barrels per
day from a current 110,000.