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Canada to Ban Tankers on North Pacific Coast in Blow Enbridge
Posted by Bloomberg: Jeremy van Loon on November 15th, 2015
Bloomberg: Canada plans to formally ban oil tanker traffic on the northern coast of British Columbia, adding another hurdle to Enbridge Inc.’s Northern Gateway pipeline proposal.
Prime Minister Justin Trudeau has instructed Marc Garneau, the minister of transport responsible for the Coast Guard, to implement the ban which has informally been in place for years and was part of the leader’s campaign platform, according to the prime minister’s office.
The ban will add to hurdles Enbridge has faced since...
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Alberta in Talks on Climate Policy With Eye to Keystone Approval
Posted by Bloomberg: Jeremy van Loon on February 26th, 2015
Bloomberg: Alberta is in talks with other Canadian provinces and U.S. states to cooperate on climate and environmental policies as it seeks to improve the reputation of its oil sands and win approval of TransCanada Corp.’s Keystone pipeline. The oil-rich province is in discussions with governments in North America and overseas, as well as institutions, to coordinate policies aimed at lowering carbon emissions, Premier Jim Prentice said in an interview on Wednesday from Edmonton. The government plans to provide...
Canada: Enbridge Reports First Quarterly Loss in Two Years
Posted by Bloomberg: Jeremy van Loon on February 17th, 2014
Bloomberg: Enbridge Inc. (ENB), the largest transporter of Canadian crude to the U.S., reported its first quarterly loss in two years on hedging contracts. The fourth-quarter net loss was C$267 million ($244 million), or 32 cents a share, compared with a profit of C$146 million, or 18 cents, a year earlier, the Calgary-based company said today in a statement. Excluding one-time items, the company reported a 44-cent per-share profit, missing the 45-cent average of 14 analysts’ estimates compiled by Bloomberg....