Trudeau cancels Caribbean trip amid pressure to end pipeline protests

Trudeau cancels Caribbean trip amid pressure to end pipeline protests
OTTAWA — Prime Minister Justin Trudeau has cancelled his planned trip to the Caribbean this week amid criticism over his government’s handling of a series of anti-pipeline protests that have disrupted rail service in parts of Canada. The Prime Minister’s Office announced the cancellation Sunday evening, the night before Trudeau was scheduled to fly to Barbados where he was expected... Read More

Trudeau confers with cabinet ministers as rail blockades continue

Trudeau confers with cabinet ministers as rail blockades continue
OTTAWA — Prime Minister Justin Trudeau was in talks over the weekend with federal cabinet ministers as protesters opposed to a pipeline project in British Columbia continued to halt train service across parts of the country. Trudeau’s spokeswoman Chantal Gagnon said Sunday the prime minister had already spoken to Deputy Prime Minister Chrystia Freeland, Transport Minister Marc Garneau, Public Safety Minister... Read More

Enbridge quarter and full year earnings up on higher activity, new infrastructure

Enbridge quarter and full year earnings up on higher activity, new infrastructure
CALGARY — Enbridge Inc. says earnings rose in the fourth quarter and last year as a whole on higher asset use and contributions from infrastructure put in place in late 2018 and through last year. The pipeline-focused energy giant says it had adjusted earnings of $1.23 billion, or 61 cents per share for the quarter ending Dec. 31, compared with $1.17... Read More

TC Energy matches $1.1 billion fourth-quarter profit, beats analyst estimates

TC Energy matches $1.1 billion fourth-quarter profit, beats analyst estimates
CALGARY — Pipeline and power company TC Energy Corp. is reporting net income of $1.1 billion in the three months ended Dec. 31, matching its performance in the same period of 2018. The Calgary-based company’s reported earnings per share were $1.18, down a penny from the year-earlier period but well ahead of analyst expectations of $1.03, according to financial markets data... Read More

Cenovus Energy reports $113M fourth-quarter profit, total production up

Cenovus Energy reports $113M fourth-quarter profit, total production up
CALGARY — Cenovus Energy Inc. reported a fourth-quarter profit of $113 million compared with a loss of nearly $1.36 billion in the same quarter a year earlier. The oilsands company says the profit amounted to nine cents per share for the quarter ended Dec. 31 compared with a loss of $1.10 per share in the fourth quarter of 2018. Total... Read More

Kitimat LNG partner takes $720-million writedown of project and gas fields

Kitimat LNG partner takes $720-million writedown of project and gas fields
CALGARY — A partner in the proposed Kitimat LNG project on the B.C. coast warns that it will record a $720-million after-tax writedown on its investments in Western Canada. Australia-based Woodside Petroleum Ltd. says the charge against 2019 earnings reflects uncertainty in timing of when it will be able to develop its natural gas fields in northern B.C. to feed the planned liquefied natural... Read More

N.L., Ottawa agree to shield ratepayers from Muskrat Falls cost overruns

N.L., Ottawa agree to shield ratepayers from Muskrat Falls cost overruns
ST. JOHN’S, N.L. — Ottawa and Newfoundland and Labrador say they will rewrite the financial structure of the Muskrat Falls hydro project to shield ratepayers from paying for the megadam’s cost overruns. Federal Natural Resources Minister Seamus O’Regan and Premier Dwight Ball announced Monday that their two governments would scrap the financial structure agreed upon in past federal-provincial loan agreements,... Read More

Trans Mountain pipeline expansion cost jumps 70 per cent to $12.6 billion

Trans Mountain pipeline expansion cost jumps 70 per cent to $12.6 billion
Delays and design changes have driven the cost to build the Trans Mountain pipeline expansion up by about 70 per cent to $12.6 billion from the $7.4 billion estimate made three years ago, the company says. The project has cost about $2.5 billion to date, including the impact of delays and additional regulatory processes, leaving an additional $8.4 billion needed to complete construction,... Read More

Coal sales interrupted by heavy snow, extreme cold, rain, warns Teck Resources

Coal sales interrupted by heavy snow, extreme cold, rain, warns Teck Resources
VANCOUVER — Shares in Teck Resources Ltd. fell by as much as 3.2 per cent after it warned sales of steelmaking coal in the current quarter are down due to bad weather in British Columbia. Its stock fell as low as $18.40 in trading in Toronto on Thursday, down from their $19.01 close on Wednesday. They set a 52-week high of $34.32 last... Read More

Suncor defers Montreal refinery project to focus on low-cost oilsands expansions

Suncor defers Montreal refinery project to focus on low-cost oilsands expansions
CALGARY — Suncor Energy Inc.’s on-again, off-again plan to add a coker unit to its Montreal refinery to allow it to process heavier barrels of oil, including oilsands bitumen, is off the table as it shuffles its spending priorities. The $2-billion project has been shelved as the company focuses on low-cost oilsands expansions, projects that will help reduce emissions and cost-cutting digital technologies, CEO Mark Little... Read More