BP Canada given the go-ahead to start drilling off the Nova Scotia coast

BP Canada given the go-ahead to start drilling off the Nova Scotia coast
HALIFAX — Nova Scotia’s offshore petroleum regulator has granted BP Canada Energy Group approval to begin drilling a well off the province’s coast. The Aspy D-11 exploration well is the first in BP Canada’s Scotian Basin Exploration Project, which could see up to seven exploration wells drilled off the southeast coast of Nova Scotia over a three year period. The oil and gas company submitted... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (15,484.32, up 29.90 points) Champion Iron Ltd. (TSX:CIA). Miner. Down one cent, or 0.91 per cent, to $1.09 on 21.03 million shares. Cenovus Energy Inc. (TSX:CVE). Oil and gas. Down 42 cents, or 3.31 per cent, to $12.28 on 6.2 million shares. Baytex Energy Corp. (TSX:BTE). Oil and gas.... Read More

Pump prices, airline tickets help propel Canada’s annual inflation rate to 2.3%

Pump prices, airline tickets help propel Canada’s annual inflation rate to 2.3%
OTTAWA — Canada’s annual inflation rate continued creeping higher last month to hit 2.3 per cent. The March figure from Statistics Canada shows the pace of inflation inched a little farther past the midpoint of the central bank’s ideal range of between one and three per cent. By comparison, inflation was 2.2 per cent in February and 1.7 per cent in January. The annual pace of... Read More

Kinder Morgan CEO says recent events confirm Trans Mountain may be ‘untenable’

Kinder Morgan CEO says recent events confirm Trans Mountain may be ‘untenable’
CALGARY — The CEO of Kinder Morgan says events in recent days have reinforced his concerns about the viability of the Trans Mountain oil pipeline expansion project. “It’s become clear this particular investment may be untenable for a private party to undertake. The events of the last 10 days have confirmed those views,” Steve Kean said on a conference call Wednesday. “We’ve pointed out... Read More

Carr says pipeline expansion will add just one more tanker a day off B.C. coast

Carr says pipeline expansion will add just one more tanker a day off B.C. coast
OTTAWA — Natural Resources Minister Jim Carr says the Trans Mountain pipeline will only increase tanker traffic off the coast of British Columbia by one ship a day, downplaying the risks raised by environmental critics of the project. Speaking following the weekly Liberal caucus meeting today, Carr said he has a lot of confidence that the pipeline expansion his government backs... Read More

Pipeline protest greets Trudeau in London ahead of meetings with Queen, May

Pipeline protest greets Trudeau in London ahead of meetings with Queen, May
LONDON — The explosive debate around the Trans Mountain pipeline followed Justin Trudeau to Britain’s capital on Wednesday, as environmental activists confronted the prime minister with calls to cancel the contentious project. The activists from Greenpeace UK sought to make their point with an elaborate protest that included erecting a fake pipeline around the Canadian High Commission next to iconic... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,353.30, up 52.92 points) Aurora Cannabis Inc. (TSX:ACB). Healthcare. Down 49 cents, or 5.49 per cent, to $8.44 on 11.1 million shares. The medical marijauna producer says it is acquiring about 29 hectares of land in Medicine Hat, Alta., to build a new high-tech cannabis facility. Aurora says... Read More

Saskatchewan premier says his province will also table oil ban bill

Saskatchewan premier says his province will also table oil ban bill
EDMONTON — Premier Scott Moe says Saskatchewan will join Alberta in a fight with B.C. over the Trans Mountain pipeline expansion by introducing its own legislation on oil exports. Premier Scott Moe has announced on Twitter that his government will bring in a bill in the coming days that could result in less oil moving to British Columbia. Alberta Premier Rachel Notley’s government introduced legislation... Read More

Dropping the gloves over pipelines

Dropping the gloves over pipelines
Kinder Morgan’s acknowledgement that doing business in Canada may not be worth the trouble represents a watershed moment in Canadian economic history Earlier this month, pipeline company Kinder Morgan announced it will suspend all “non-essential” activities and “related spending” on the federally-approved Trans Mountain pipeline expansion. In unusually clear language, Kinder Morgan explained that it can’t invest more money into... Read More

Energy shippers trepidatious on Alberta plan to control oil and gas exports

Energy shippers trepidatious on Alberta plan to control oil and gas exports
CALGARY — Oil shippers are reacting with trepidation to legislation the Alberta NPD has introduced that would give the government power to restrict energy exports from the province. Canadian Energy Pipeline Association president Chris Bloomer says he understands why the government is going ahead with the plan, but is concerned about the potential longer-term consequences of the bill. He says the association hopes... Read More