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Tag Archives: energy

Energy East pipeline costs jump 30%, as TransCanada makes 700 tweaks to plan

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CALGARY – Building the Energy East pipeline will cost almost $4 billion more than expected, the result of hundreds of tweaks to the project’s design and an expanded terminal in Saint John, N.B. TransCanada Corp. announced Thursday that it had filed an amendment to the National Energy Board for the …

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Suncor Energy Inc’s bid for Canadian Oil Sands Ltd pits CEO’s pledge to deliver against poor record

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As Canadian Oil Sands Ltd. tries to fend off Suncor Energy Inc.’s $4.33 billion bid, the latest upset at its only business couldn’t have come at a worse time. Billionaire investor Seymour Shulich says he would support a sweetened offer for Canadian Oil Sands The most outspoken opponent of Suncor …

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Perpetual Energy Inc shares plunge as Alberta Securities Commission rules in favour of its rights offering

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CALGARY – Perpetual Energy Inc.’s share price plunged more than 20 per cent Thursday after securities regulators ruled in favour the company’s planned $25 million rights offering. Lawyers for Perpetual argued at an Alberta Securities Commission hearing Tuesday and Wednesday that an application to cease trade the offering would have …

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Vermilion Energy Inc’s spending cuts praised by analysts

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Vermilion Energy Inc.’s decision to reduce its capex spending plans for 2016 to $285 million from a previous preliminary figure of $350 million is being welcomed by analysts, partly because it should shore up the Calgary-based oil and gas producer’s dividend. Macquarie analyst Chris Feltin noted that the company’s production …

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Suncor Energy Inc to weigh options over weekend if it doesn’t win over enough Canadian Oil Sands Ltd shareholders

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With Suncor Energy Inc.’s all-share offer for Canadian Oil Sands Ltd. set to expire Friday evening, Suncor CEO Steve Williams and his advisors will likely huddle over the weekend to plot their next move. Suncor’s $4.13B hostile takeover of Canadian Oil Sands teeters as Friday deadline looms Suncor’s takeover of …

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Suncor Energy Inc’s $4.13B hostile takeover of Canadian Oil Sands Ltd teeters as Friday deadline looms

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Suncor Energy Inc.’s $4.13 billion takeover of Canadian Oil Sands Ltd. looks far from certain, with the target’s share price trading at a record gap to the bid just a day before expiring. Where did the potential buyers of Canadian Oil Sands disappear to? At a hearing before the Alberta …

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Alberta losing reputation as energy investment destination in wake of higher taxes

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Alberta, home to Canada’s oilsands, slid lower in a global ranking of energy investment destinations as the industry’s mounting woes are compounded by higher provincial levies. Just as its oil and gas producers reel from a price crash and hurdles to pipeline projects like TransCanada Corp.’s Keystone XL, an increase …

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Burnaby calls on national energy regulator to suspend Trans Mountain pipeline review

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BURNABY, B.C. – The National Energy Board should suspend its review of the Trans Mountain pipeline until Prime Minister Justin Trudeau reforms the national regulator, a lawyer for the City of Burnaby said Wednesday. “You do not have the authority to speak in the interest of the citizens of Burnaby,” …

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19 Canadian energy companies and 12 miners under review for downgrade as Moody’s takes stock of global commodity meltdown

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Moody’s Investors Service has put the world’s energy and mining companies on high alert for rating downgrades as the collapse in commodity prices puts major stress on their balance sheets. In total, the credit rating agency placed 120 oil and gas companies and 55 mining companies under review. Nineteen of …

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National Energy Board doing ‘inadequate’ job of tracking whether pipelines meet approval conditions

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CALGARY • A divisive national debate over pipelines has turned squarely on the processes of the National Energy Board at the same time as a new report slams the regulator’s “inadequate” follow-up on pipeline approvals. In a report Tuesday, the office of federal environment commissioner Julie Gelfand said the NEB  …

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