Provincial Business
‘Made in the North’ oil pipeline promoted
CALGARY — The Northwest Territories is promoting the idea of a “made-in-the-North” oil pipeline as a means to get Canadian crude to international markets, bypassing jurisdictions that have been less than keen on such developments.
“Certainly the Northwest Territories is in a good location when it comes to the possible routing of the pipeline north,” David Ramsay, the territory’s industry minister, said in a recent interview. READ
NRC, companies to use oilsands greenhouse gas to make biofuel
CALGARY — The federal government, an oil giant and a biofuels company are teaming up to build a $19-million plant in northern Alberta that will use carbon dioxide emissions from the oilsands to help turn algae into products such as fuel, fertilizer and livestock feed. READ
Study says gambling addicts significant source of government revenue
LETHBRIDGE— A new study suggests nearly half of Alberta’s gambling revenue comes from gambling addicts and researchers say that’s “problematic.” READ
Spring’s late arrival could be major challenge to farmers
Agrium Inc. says spring’s late arrival to North America could be a major challenge, as farmers who buy fertilizers, seeds and other agricultural products from the company have less time to get their crops in the ground. READ
Home starts stay brisk
Residential construction continues at a brisk pace in Red Deer, with Canada Mortgage and Housing Corp. reporting 62 housing starts last month. That tally, which included 40 single-detached homes and 22 units in multi-family projects, was up 19 per cent from April 2012, when there were 52 starts. READ
Production, reserves way up
Alberta’s energy regulator says higher oil prices and new technology have led to the largest increase in decades of both conventional oil production and reserves. In its latest report the Energy Resources Conservation Board records a 14 per cent increase in production in 2012 and 9.5 per cent increase in reserves over 2011 levels, due to the higher production rates from horizontal wells. READ
Husky ready to assemble massive Liwan platform
Husky Energy Inc. said Tuesday it’s getting ready to assemble its massive Liwan offshore platform in the South China sea, with natural gas expected to start flowing late this year or early next. “The Liwan gas project gets into the home stretch this year,” said CEO Asim Ghosh on a conference call with analysts. “Our next big milestone is just around the corner.” READ
WestJet reports ’best ever’ profit
WestJet Airlines Ltd.’s “best ever” quarterly earnings were overshadowed Tuesday by a major stock drop, as investors worried whether the carrier will be able to profitably fill its new capacity. Shares fell as much as 13 per cent to $21.45 on the Toronto Stock Exchange, but by early afternoon had recovered to $22.55, 8.8 per cent lower than the previous close. READ
Redford’s government spends $350,000 on glossy budget mail-out brochure
Alberta Premier Alison Redford’s government is spending $350,000 to mail out a full-colour budget brochure — something critics suggest is Redford’s latest attempt to save her job. “It’s desperation,” Wildrose Opposition Leader Danielle Smith said Tuesday. READ
Suncor shares rise on hike
Suncor Energy Inc. expects to be shielded from swings in oil prices well into the foreseeable future, despite problems the industry has been having in getting its crude to the most lucrative markets, CEO Steve Williams said Tuesday READ
Alberta business confidence still sliding
The confidence level of small business operators in Alberta is at its lowest point in nearly 3 1/2 years, according to a recent survey conducted by the Canadian Federation of Independent Business (CFIB). READ
Cenovus eyes rail to ship bitumen
Cenovus Energy Inc. says some of its oilsands bitumen may soon be able to move to market by rail, adding to the roughly 6,000 barrels per day of conventional crude it is currently shipping by train. READ
Plains Midstream charged for 2011 pipeline spill
The Canadian arm of a U.S.-based pipeline company is facing environmental charges related to a massive leak that spilled millions of litres of oil into wetlands and shut down a school in northwestern Alberta. READ
Encana closer to finding new CEO
Encana Corp. expects to finish its hunt for a new CEO at the end of June, the natural gas giant said Tuesday after it reported better-than-expected first-quarter results. The company has narrowed down more than 150 names to a short list comprising both internal and external candidates to replace Randy Eresman, who left abruptly at the beginning of this year. READ
TransCanada surprised over EPA reaction to Keystone
TransCanada says it’s somewhat surprised at the U.S Environmental Protection Agency’s recent critical comments of its proposed Keystone XL pipeline. TransCanada (TSX:TRP) says it has had a co-operative relationship with the EPA throughout the four-year-plus review of the project. READ
Encana, PetroChina form natural gas partnership
CALGARY — Less than a week after Ottawa waved through CNOOC Ltd.’s $15.1-billion takeover of Nexen Inc., a different Chinese state-owned company is plowing another $2.2 billion into the Canadian oilpatch. READ
Oil, agriculture to buoy economy in West
Economically speaking, Western Canada should still be one of the best places in the world to live in 2012, a banking expert says. READ
TransCanada may be able to sped up urgently needed leg of Keystone pipeline
It may be possible for TransCanada Corp. to build the most urgently needed leg of its delayed Keystone XL oil pipeline as early as next year, an executive with the pipeline giant said Wednesday. READ
Shaw interested in some of Canwest's assets
The chief executive officer of Shaw Communication Inc. (TSX:SJR.B) confirmed Thursday that his company has been looking at buying some of Canwest’s assets, although he wouldn’t say what has caught his interest. READ
Cash Store reports big increase in Q2 profit
EDMONTON — Lender of last resort The Cash Store Financial Services Inc. (TSX:CSF) announced Wednesday it was boosting its dividend after reporting a major increase in second-quarter profits. READ
