Provincial Business
Enbridge announces a bevy of new oil pipeline expansion projects
CALGARY — Enbridge Inc. is spending billions on pipeline expansions geared toward moving more crude from Western Canadian and U.S. oilfield regions to eastern markets.
The Calgary-based pipeline giant (TSX:ENB) said Wednesday it has enough commercial interest to proceed with a $200-million project to expand a pipeline that feeds crude to refineries in Detroit and Toledo, Ohio, by 80,000 barrels per day. That project should be in service in 2013. READ
WestJet Airlines adds Korean Air to list of code-share partners
WestJet Airlines Ltd. said Monday it has added South Korea’s largest airline as its newest code-share partner. The agreement will allow Korean Air customers to seamlessly transfer onto more than 70 WestJet-operated flights. Tickets are currently available for flights beginning May 31. “We are very pleased to announce our agreement with Korean Air, a high quality, world-class airline,” said John MacLeod, vice-president of network management and alliances for WestJet. READ
Shell proposes B.C. LNG project alongside partners
CALGARY — Royal Dutch Shell PLC and three Asian partners plan to build a liquefied natural gas export terminal in Kitimat, B.C. that would connect Canada’s vast supplies with energy-hungry markets on the other side of the Pacific. READ
Alberta regulator reviews Maple Leaf bid
CALGARY — The Alberta Securities Commission says it has published orders following a review of Maple Group Acquisition Corp.’s proposed takeover and merger of TMX Group (TSX:X) with the alternative Alpha trading platform and CDS clearing house. READ
Nova strengthens bottom line
Nova Chemicals Corp. strengthened its bottom line during the first quarter of 2012. The company, which is headquartered in Calgary but has ethylene and polyethylene plants at Joffre, reported on Tuesday that it had a $191-million profit for the three months ended March 31. That was up 17 per cent from the $163 million earned in the same period of 2011. Nova’s revenues for the quarter were $1.34 billion, a three per cent increase from $1.3 billion recorded at the start of 2011. READ
TransCanada to reapply for Keystone XL imminently
CALGARY — TransCanada won’t confirm a report in the Washington Post that it will reapply for its controversial Keystone XL pipeline as soon as Friday. READ
WestJet taps Bombardier for new aircraft
CALGARY — WestJet Airlines has selected Bombardier to supply the propeller aircraft it requires for a new regional service, putting to rest speculation that the order would go to a European rival of the Montreal-based plane manufacturer. READ
New chief executive takes charge at Suncor
CALGARY — A new chief executive officer is now in charge of Canada’s largest energy company as Rick George officially handed the reins to chief operating officer Steve Williams at Suncor Energy Inc.’s annual meeting Tuesday. READ
Syncrude partner beats expectations
Canadian Oil Sands Ltd. (TSX:COS) is boosting its dividend by 17 per cent after reporting a first-quarter profit of $321 million and beating expectations. READ
Suncor first-quarter results beat estimates
Suncor Energy Inc. delivered first-quarter earnings Monday that beat analyst expectations and reported a drop in oilsands production due to a month-long unplanned upgrader outage. READ
Labour groups say foreign worker changes attack Canadian wages
EDMONTON — Labour groups are stepping up their attack on changes to regulations for temporary foreign workers, saying the adjustments will reduce wages for Canadians, make it tougher for union shops to bid for work and allow companies to cut training of local employees. READ
Husky Energy earnings beat Street, but refining margins drag
CALGARY — Husky Energy Inc. has posted better than expected earnings in the first quarter of 2012, but said they could have been even better if not for the high volume of a pricey type of crude processed at a refinery in Ohio. READ
TransAlta says Pioneer carbon capture project scrapped
CALGARY — A project to capture carbon dioxide emissions from an Alberta coal plant and store them underground has been scrapped. READ
Viterra shareholders vote May 29 on takeover offer
CALGARY — Viterra Inc. (TSX:VT) has called a special meeting of shareholders for late next month to vote on the proposed $6.1-billion takeover of the company by Swiss-based Glencore International. READ
With canola selling for around $14 a bushel, Prairie residents better get used to it
Yellow may not be the favourite colour of most people. But with canola currently selling for around $14 a bushel, Prairie residents better get used to it. 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
Finning posts loss
VANCOUVER — Finning International Inc. (TSX:FTT) shares sank Wednesday after the heavy equipment dealer said revenues and earnings fell more than analysts expected as the recession hit all of its businesses. READ
