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Tag Archives: Calgary

Canada’s Alberta to introduce economy-wide carbon tax in 2017

CALGARY – The Canadian province of Alberta, home to the country’s controversial oil sands, said on Sunday it will implement an economy-wide tax on carbon emissions in 2017, addressing long-standing criticism it is not doing enough to combat climate change. The provincial government estimated the plan, including a pledge to phase out pollution from coal-fired electricity generation by 2030 and ...

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TransCanada to raise dividend, add C$13 billion of new projects

CALGARY, Alberta – TransCanada Corp <TRP.TO> said it expects to raise its dividend and bring C$13 billion ($9.76 billion) of new small and medium-sized projects into service by the end of 2018, following the rejection of its Keystone XL crude pipeline. Canada’s second largest pipeline company said on Tuesday at an investor day in Toronto that it anticipates increasing its ...

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Enbridge cuts 5 percent of workforce in Canada and U.S.

CALGARY, Alberta – Canada’s largest pipeline company Enbridge Inc cut 5 percent of its workforce on Monday, a company spokesman said, as low crude prices continued to drag on the North American oil and gas industry. Enbridge spokesman Graham White said the reductions were made across Canada and the United States and represented about 500 employees at all levels and ...

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Hurting Canadian oil producers signal further cuts to come

CALGARY, Alberta – Canadian energy companies, especially those at higher cost oil sands producers, are signaling they will cut capital spending for a second straight year in 2016 as they adjust to a painful new reality of oil near $40 a barrel. Energy executives, coming off a bleak third-quarter earnings season and due to roll out capital budgets in coming ...

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Enbridge sees hit from delay in start of Line 9 pipeline

CALGARY – Enbridge Inc, Canada’s largest pipeline company, said on Thursday it was moving into offshore wind development as part of a broader shift in the coming decades away from carbon-intensive energy. Enbridge President and Chief Executive Officer Al Monaco made the comments after the company said a delay in starting up a pipeline to transport crude from Ontario to ...

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Shell halts construction on new Alberta oil sands project

CALGARY, Alberta – Royal Dutch Shell Plc will not continue construction of its 80,000 barrel per day Carmon Creek thermal oil sands project in northern Alberta because of the lack of infrastructure to move Canadian crude to market, the company said on Tuesday. Shell said the decision to halt the project was also the result of “current uncertainties” and chief ...

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TransCanada to cut more management jobs

CALGARY, Alberta – Pipeline company TransCanada Corp has announced new job cuts, eliminating about 20 percent of its directors as slumping oil prices continue to take their toll on its customers, a spokesman said on Wednesday. The company, which is proposing the Keystone XL and Energy East pipeline projects, said the latest cuts affect about 30 directors. This follows an ...

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Canada’s Alberta reaches out to industry for economic advice

CALGARY, Alberta – Alberta’s left-leaning New Democratic Party (NDP) government said on Wednesday it was reaching out to prominent energy and other industry executives for advice to revamp the western Canadian province’s struggling economy. Alberta, home to Canada’s oil sands and the largest source of U.S. crude imports, has been hammered by tumbling global oil prices over the past 12 ...

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Interview – Canada oil industry says price drop makes new pipelines essential

CALGARY – Tumbling crude prices have made building new pipelines more important than ever for Canadian oil and gas producers because the fate of some projects hinges on shipping costs, the head of the industry’s main lobby group said on Wednesday. Canadian companies have long complained that the industry suffers major lost revenue because their oil, Western Canadian Select, is ...

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Aggreko acquires ICS Group

Aggreko, an energy company specializing in “modular, mobile power and related solutions” announced its acquisition of Canadian rental company ICS Group, Inc. Wednesday. The agreement entitles Aggreko to all ICS and ICS-related assets. Established in 1999, Alberta-based ICS specializes in temporary heating, concrete cure and ground thaw solutions for industries such as oil and gas, industrial, and restoration. In a ...

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