Canada’s national pension fund manager is one of a group of Canadian companies which are undermining the national government’s global anti-coal alliance by investing in new coal power plants abroad, an environmental organization says.
Canadian energy companies have entered a conflict over the U.S. electricity market where natural gas, hydroelectric and renewable-energy suppliers are opposing Trump government efforts to favour coal-fired and nuclear generators with premium obligations for “reliability.”
Kinder Morgan Canada Ltd. doesn’t have to abide by some bylaws in Burnaby, B.C., as the business starts construction on its controversial Trans Mountain oil pipeline, Canada’s top energy regulator says.
Oil climbed on Thursday in a indication that investors are wary of pushing the market lower in reaction to an unusually large increase in U.S. stocks of processed products which has increased concern about the requirement outlook.
Oil prices fell on Wednesday after a surprise increase in U.S. inventories of refined products in what the market interpreted as a sign of flagging demand.
Brent crude futures were down 48 cents at $62.38 a barrel by 1002 GM down 2 percent since last Wednesday, while U.S. crude stocks were off 46 cents at $57.16 a barrel.
An attorney for Kinder Morgan Canada says political resistance to the Trans Mountain project in Burnaby, B.C. has “poisoned the well” and disrupted the regulatory review process in town.
In a hearing in the National Energy Board, Maureen Killoran laid out discussions about how protracted delays in permit approvals in the city have put back the $7.4-billion pipeline expansion project.
A U.S. regulator’s preliminary investigation into the largest oil pipeline spill this season has raised a red flag which could trigger an extensive and expensive inspection of tens of thousands of miles of underground energy lines.
Blackstone Group has teamed up with its Brazilian partner to compete for Petroleo Brasileiro SA’s natural gas pipeline system in the country’s northeast, said people with knowledge of the issue.
Oil prices edged higher on Friday, a day after OPEC and other major producers agreed to extend output curbs until the end of 2018 in a bid to tackle global oversupply and bolster prices.
The Organization of the Petroleum Exporting Countries and some non-OPEC producers led by Russia agreed on Thursday to keep current limits on output in place until the end of next year, although they signalled a possible early exit from the deal should the market overheat and prices rise too far.
OPEC and non-OPEC oil manufacturers look poised to agree at a meeting on Thursday to expand output cuts before the end of 2018, four OPEC sources said as the team seeks to clear a worldwide glut of crude and prevent another price crash.