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CALGARY, Alberta (Reuters) - Canada’s Inter Pipeline Ltd, which is fighting a hostile takeover bid from Brookfield Infrastructure Partners, on Thursday said it has signed contracts with buyers for 60% of production from its Alberta petrochemical plant.
The C$4 billion ($3.20 billion) Heartland Petrochemical Project has emerged as a central asset in Brookfield’s bid to buy the Calgary-based energy infrastructure company. Inter says the Heartland plant will open up new markets and boost earnings, but cost overruns and slow progress in securing buyers for the polypropylene pellets it will produce have weighed on the company’s stock.
Chief Executive Christian Bayle said the contract announcement made Inter more valuable.
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CALGARY, Alberta (Reuters) -New York’s state pension fund is restricting investment in six Canadian oil sands companies because they have not shown they are prepared for a transition to a low-carbon future, the fund’s Comptroller Thomas DiNapoli said on Monday.
FILE PHOTO: Pipelines at Canadian Natural Resources Limited s (CNRL) Primrose Lake oil sands project are seen near Cold Lake, Alberta August 8, 2013. REUTERS/Dan Riedlhuber/File Photo
The New York State Common Retirement Fund will divest more than $7 million in securities already held in the companies, and not make any further investments in them, DiNapoli said in a statement.
New York's state pension fund is restricting investment in six Canadian oil sands companies because they have not shown they are prepared for a transition to a low-carbon future, the fund's Comptroller Thomas DiNapoli said on Monday.
COVID-19 surge complicates busy maintenance season for Canada s oil sands Reuters 4 hrs ago
By Nia Williams
CALGARY, Alberta, April 9 (Reuters) - Canada s oil sands are entering their busiest season for annual maintenance, bringing thousands of extra workers onto sites, but union officials say many members are reluctant to travel as a third wave of COVID-19 surges across the country. It s absolutely crazy in the oil sands right now trying to get workers, said Ian Robb, Canadian director for Unite Here! labor union People don t want to travel, especially not by plane or by bus. But these east coasters need the work, they are used to the work and we need them here.
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A TC Energy pump station sits behind mounds of dirt from the Keystone XL crude oil pipeline as it lies idle near Oyen, Alberta, Canada February 1, 2021. REUTERS/Todd Korol
CALGARY, Alberta (Reuters) -Canada’s largest pipeline companies TC Energy and Enbridge Inc see opportunities in their extensive natural gas businesses as a transition to cleaner energy evolves, their chief executives said on Wednesday.
The two Calgary-based companies are among North America’s largest energy infrastructure firms, and the majority of their business is focused on storing and transporting fossil fuels.
TC Energy has the biggest natural gas pipeline system in North America, and CEO François Poirier said the company sees plenty of opportunities to allocate capital to that business in the form of organic bolt-on projects.