The Canadian province of Alberta’s OPEC-style decision to force production cuts is benefiting oil companies with higher prices, but it is also pushing capital elsewhere and threatens to undermine booming crude-by-rail shipments.
Kinder Morgan, which holds about 70% majority voting interest in Kinder Morgan Canada, has hired investment bank TD Securities to facilitate a potential sale of its Canadian business.
Concurrent with its formation, the JV, SemCAMS Midstream, also agreed to acquire the Montney operating portfolio of Meritage Midstream ULC.
Citigroup has hired Greg Saksida from TD Securities to head energy investment banking in Canada, according to an internal memo seen by Reuters.
Canada's energy regulator released draft revisions of conditions and new recommendations on Jan. 10 as part of the Trans Mountain oil pipeline expansion re-review, ordered last year after a Canadian court overturned the approval of the project.
New name will better reflect the company’s presence throughout North America, says CEO Girling.
The Chevron and Occidental deal marks the first significant investment by energy groups into the technology developed by Carbon Engineering, a Bill Gates-backed start-up based in Canada.
Husky Energy said the potential sale is being undertaken independent of the outcome of the Calgary, Alberta-based company's proposed acquisition of rival MEG Energy.
The so-called WCC LNG export project in Canada’s British Columbia was expected to produce about 15 million tonnes per year of LNG, with plans for further expansion up to 30 million tonnes per year.
Natural Resources Minister Amarjeet Sohi said in Edmonton, Alberta, that the aid package would include C$1 billion for energy exporters to invest in new technologies, boost working capital or find new markets.