Articles By: Resource Investor
Alberta’s new bold stance deserves credit
Albertans hurt by deep budget cuts due to shrinking provincial revenue from discounted bitumen prices may question the province’s bold buildup of its international presence. After Clark’s election victory, a fresh start for B.C. and Alberta energy debate The come-from-behind victory of Christy Clark’s Liberals in Tuesday’s British Columbia election comes as a big relief [...]
National Energy Board okays Kinder Morgan toll plan for Trans Mountain pipeline expansion
CALGARY – The National Energy Board on Thursday rejected concerns that Kinder Morgan Canada Inc. is trying to extract monopoly profits from oil companies by jacking up the price of shipping crude to Canada’s West Coast. The decision, which examined how shipping fees called tolls would be set, shores up commercial support as the Canadian [...]
Oil pricing probe widens, Britain pledges tough action
LONDON — Oil companies will face the full force of the law if they manipulated prices, Britain’s energy minister said on Wednesday as a rating agency warned of massive fines if a European Commission’s probe into oil pricing found any wrongdoing. Big Oil offices raided in biggest price fixing probe since Libor European authorities have [...]
Big Oil offices raided in biggest price fixing probe since Libor
LONDON/OSLO — European authorities have raided offices of oil majors Shell, BP and Statoil as part of a probe into suspected manipulation of oil prices, one of the biggest cross-border actions since the Libor rigging scandal. Authorities have sharply raised scrutiny of financial benchmarks around the world since slapping large fines on some of the [...]
Collapse in Brent-WTI oil spread spooks refiners, railways
NEW YORK — After almost three years of churning bumper profits from the massive price gap between the world’s two most actively traded crude oil contracts, traders, refiners, railways and investors are all asking the same question: Is the game finally coming to a close? Rail oil boom creating jobs, driving returns as Keystone approval [...]
U.K.’s BG Group files $16B plan to export LNG from British Columbia
CALGARY – The U.K.’s BG Group Plc has unveiled plans to export the equivalent of one-quarter of Canada’s current daily natural gas production from a British Columbia terminal starting in 2021. The company, whose Canadian office is in Vancouver, has no reserves nearby. The contradiction of an exporter with no gas has emerged as energy [...]
Enbridge, TransCanada on front lines of war between producers and anti-oil groups
Imagine this corporate nightmare: activists dominating your annual shareholders’ meeting, sullying your brand over the Internet, discrediting you with politicians and agitating communities against you. It used to be known as character assassination. Today it’s the environment in which Canada’s largest pipeline companies, TransCanada Corp. and Enbridge Inc., find themselves. They are on the front [...]
Oryx Petroleum prices its IPO at $15 a share
Oryx Petroleum Corp. Ltd., a Canadian-based oil exporter with operations in Africa and Iraq, initially went looking to find investors willing to pay $20-$23 a share in its initial public offering. Later it went looking for investors willing to pay $16-$17 a share. It did find investors but they were not willing to pay either [...]
Facing B.C. backlash, Husky CEO says anti-oil sands stance will moderate in long haul
British Columbians are free to elect the government they want, but in the end extreme views on pipelines will moderate, the CEO of one of Canada’s largest oil companies predicted Tuesday. Regardless of the anti-oil sands pipeline stance taken by the top candidates for premier in the B.C. provincial election, Canada will still need new [...]
BP and Total lead U.K. oil revival
The future of the U.K.’s 40-year-old oil and gas industry lies on a stretch of windswept bogland in the Shetland islands 200 kilometers (124 miles) north of Scotland. Among those islands of 22,000 people living closer to Oslo than London, Total SA is spending US$5.1-billion to build a plant to process gas from undeveloped fields [...]
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