MEG Energy sells Access Pipeline and Stonefell Terminal for $1.6 billion

MEG Energy sells Access Pipeline and Stonefell Terminal for $1.6 billion
CALGARY — MEG Energy Corp. has signed a deal to sell its Stonefell Terminal and 50 per cent stake in Access Pipeline to Wolf Midstream Inc. for $1.6 billion. Under the deal, MEG will receive $1.52 billion in cash and a credit of $90 million toward future expansions of Access Pipeline so MEG will not have to pay incremental tolls to... Read More

Montreal’s $6.3 billion light-rail network finalized, expected to open in 2021

Montreal’s $6.3 billion light-rail network finalized, expected to open in 2021
Montreal’s new rail project that will connect the city to its suburbs and to its international airport is officially a go. Michael Sabia, head of the province’s public pension fund manager, announced the two consortiums selected to build the project today in Montreal. The light-rail project will now cost $6.3 billion and is expected to be ready by the summer of 2021. The... Read More

Suncor Energy sells Montney acreage to Canbriam Energy for stake in company

Suncor Energy sells Montney acreage to Canbriam Energy for stake in company
CALGARY — Suncor Energy Inc. has signed a deal to acquire a minority interest in Canbriam Energy Inc. in exchange for its northeast B.C. mineral land holdings and $52 million. Under the deal, Suncor will acquire a 37 per cent stake in the privately held company. Suncor CEO Steve Williams says the deal is part of its strategy to reduce... Read More

B.C. premier says he won’t escalate trade dispute with Alberta over pipeline

B.C. premier says he won’t escalate trade dispute with Alberta over pipeline
VICTORIA — British Columbia Premier John Horgan doesn’t intend to respond to any provocation from Alberta in the escalating trade dispute over the Trans Mountain pipeline. Horgan said Wednesday it is not in anyone’s interests to fuel the spat between the two provinces. “I hope that we would see the end of the back-and-forth,” he told a news conference in Victoria. “I... Read More

Salesforce will invest $2B over 5 years to grow its Canadian business

Salesforce will invest $2B over 5 years to grow its Canadian business
Customer relations management company Salesforce says it will invest $2 billion in its Canadian business over the next five years. The San Francisco, Calif.-based firm says it will increase its headcount, real estate footprint and data centre capacity to support its growing customer base in the country. Salesforce currently employs more than 1,300 people in Canada and more than 6,000 local companies... Read More