Canada Environment Minister: 'No Apologies' for Oil Sector Support
Canada's top climate change official on Thursday said she would make no apologies for the nation's support for its oil producers, saying environmental and economic policies must consider the needs of all Canadians.Prime Minister Justin Trudeau's government has sought to cast Canada as a global leader in combating climate change, particularly since U.S.
Suncor Holding Off On Crude Expansion Amid Canada Pipeline Confusion
Suncor Energy Inc , one of Canada's biggest oil producers, will not sanction further expansions of crude production until it becomes clearer when new pipelines will be ready, Chief Executive Steve Williams said on Wednesday.A court overturned last week the Canadian government's approval of the Trans Mountain pipeline expansion, adding to "troubling" pipeline delays, Williams said at
Canada Dreams of Oil Exports to Asia, but California Beckons
The nationalization of a crude oil export pipeline in western Canada has buoyed long-standing hopes for crude exports to markets beyond the United States - but the most likely destination for much of that oil is California. Faced with declining production from Latin America and rising prices for higher-grade crudes from the Middle East…
Canada to Buy Kinder Morgan's Trans Mountain Pipeline
The Canadian government said on Tuesday it will buy Kinder Morgan Canada Ltd's Trans Mountain pipeline project for C$4.5 billion but does not intend to be the long-term owner of the project, which has faced fierce environmental opposition.Canada will also offer federal loan guarantees to ensure construction continues through the 2018 season as part of the deal with the company, a un
Canada Government to Give Briefing on Pipeline Expansion Aid
The Canadian government will give a 9 am ET (1300 GMT) briefing on Tuesday on how it has decided to aid a Kinder Morgan Canada Ltd crude oil pipeline project, an official said. Ottawa says it is prepared to financially backstop the planned expansion of the company's Trans Mountain pipeline, which has run into fierce opposition. Reporting by David Ljunggren
Canada Govt Ready to Indemnify Kinder Morgan Pipeline Project
The Canadian government is prepared to financially shield Kinder Morgan Canada Ltd's proposed Trans Mountain pipeline expansion against unnecessary delays that are politically motivated, Finance Minister Bill Morneau said on Wednesday.Morneau also told a news conference that if Kinder Morgan decided to walk away from the project…
Trudeau's Political Troubles Boil as Pipeline Surprise Weighs
Canada's government got just 24 hours notice that it would be thrust into a political and economic crisis by an ultimatum from a pipeline operator, government sources said, leaving Prime Minister Justin Trudeau scrambling for options in a dispute that could damage his re-election chances. The Kinder Morgan Canada…
Investors Back Kinder Morgan Canada's Trans Mountain Move
Kinder Morgan Canada shareholders on Tuesday backed the pipeline operator's decision to pause most work on its Trans Mountain expansion as a way to force the Canadian government to give final approval for the project.The company said on Sunday it would scrap plans to nearly triple the capacity of its existing Trans Mountain pipeline…
Canada Cabinet to Discuss Troubled Kinder Morgan Pipeline
Prime Minister Justin Trudeau will meet on Tuesday with his cabinet ministers to discuss Kinder Morgan Canada Ltd's threat to walk away from a troubled pipeline expansion as various levels of government signal interest in spending public funds to ensure the project proceeds. The company, losing patience with…
Kinder Morgan Canada: No Dividend Cuts Despite Trans Mountain Suspension
Kinder Morgan Canada said on Monday its dividend payouts would not be affected by the suspension of works on C$7.4 billion ($5.8 billion) oil pipeline expansion. Chief executive Steve Kean said on Sunday he would scrap plans to nearly triple the capacity of the Trans Mountain pipeline, unless legal challenges are resolved by May 31.
Kinder Morgan Halts Most Work on Disputed Canada Pipeline
Kinder Morgan Canada on Sunday suspended most work on a C$7.4 billion ($5.8 billion) oil pipeline expansion that has become the focus of protests, a move underscoring uncertainty over major energy projects in Canada. Company Chairman Steve Kean said he would scrap plans to nearly triple the capacity of the Trans Mountain pipeline…
Canadian Railways in 'catch-22' over Crude Shipments
Canadian railway operators see a lucrative opportunity to transport more crude oil to the United States as a rise in output force producers to find new routes to its southern neighbor. However, their need for long-term contracts and the pressure to move a surplus of grains in the country is making it hard to cash-in on the prospect.
Canada Pipeline Feud Hits B.C. Wine Purchases
Canada's oil-rich province of Alberta struck back at neighboring British Columbia on Tuesday, halting purchases of that province's wines in retaliation for its potentially holding up expansion of a crude pipeline. British Columbia proposed rules last week to temporarily block increased oil shipments through the province…
Canadian City to Argue Trans Mountain Oil Pipeline Route Harmful
The proposed route of Kinder Morgan Canada's Trans Mountain pipeline expansion through the west coast Canadian city of Burnaby will damage parks, harm sensitive ecosystems and impact critical infrastructure, the city will argue on Tuesday. The Vancouver suburb will present its case over three days to the Canadian energy regulator…
Kinder Morgan Canada Posts Higher Quarterly Profit
Kinder Morgan Canada Ltd is still pursuing a "primarily permiting" strategy on its Trans Mountain pipeline expansion, the company said, and also reported a rise in fourth-quarter profit on Wednesday. Kinder Morgan Canada reported a net income of C$46.4 million ($37.3 million) for the fourth quarter ended Dec. 31, up from C$17.8 million for the same period last year.
Kinder Morgan Canada Shares Surge after Pipeline Permit Ruling
Shares in Kinder Morgan Canada Ltd rose as much as 9.5 percent to a four-month high early on Friday, after a favorable ruling by the country's energy regulator on its Trans Mountain pipeline expansion boosted prospects of the contentious project. Late on Thursday, Canada's National Energy Board said Kinder Morgan…
Kinder Morgan wins Trans Mountain Appeal
Canada's energy regulator ruled on Thursday in favor of Kinder Morgan Canada Ltd's appeal to sidestep some municipal permits for its Trans Mountain pipeline expansion, a major victory for the C$7.4 billion ($5.8 billion) project. The ruling, which came just three days after the regulator heard the case, could offset some of the construction delays afflicting the company…
Kinder Morgan: Pipeline Expansion Delays Possible
Kinder Morgan Canada Ltd said on Monday the start-up of its Trans Mountain pipeline expansion could be delayed past September 2020 if it is unable to get more clarity around permitting and the judicial process by early next year. The company's appeal to Canada's energy regulator over municipal permits for the C$7.4 billion ($5.8 billion) expansion was heard on Monday.
KeystoneXL Opponents Vow Long Fight as Nebraska Hearing Concludes
Opponents of the Keystone XL pipeline vowed on Thursday to block construction of the controversial project if Nebraska regulators approve the proposed route later this year. Nebraska regulators wrapped up a final public hearing a day early on Thursday on TransCanada Corp's proposed Keystone XL pipeline after four days of contentious exchanges between lawyers.
Kinder Morgan Raised $4.16 Bln for Trans Mountain
Kinder Morgan Canada Ltd has raised C$5.5 billion ($4.16 billion) for its Trans Mountain pipeline expansion, the company said in a statement on Friday. Kinder Morgan Canada, majority owned by Houston-based Kinder Morgan Inc, has entered into agreements for C$4.0 billion in revolving credit, C$1 billion in contingent credit and C$500 million in revolving working capital…
