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‘The tanks are full gain’: Imperial Oil says Alberta-mandated cuts cost company $250 million

CALGARY – Imperial Oil Ltd.’s top executive admitted Friday that the company’s recent performance was “not our best,” after a quarter where operating costs rose and profit fell despite surging oil prices.“We can do better,” Imperial president and CEO Rich Kruger said Friday after releasing limited first quarter financial and operating results that fell short of…


Enbridge’s embattled Line 3 pipeline gets green light from Minnesota

Enbridge’s embattled Line 3 pipeline gets green light from Minnesota

CALGARY, Alberta — A Minnesota regulator has confirmed its approval of Enbridge Inc’s Line 3 crude oil pipeline replacement, allowing the $9 billion project that will ship more barrels out of western Canada to move forward, the company said on Wednesday.The Minnesota Public Utilities Commission initially approved Enbridge’s plan to rebuild the aging 1,031-mile (1,660-km)…





Imperial blasts Alberta’s ’dramatic, drastic’ oil curtailment that has made crude-by-rail uneconomic

Imperial blasts Alberta’s ’dramatic, drastic’ oil curtailment that has made crude-by-rail uneconomic

CALGARY – Imperial Oil Ltd. blasted the Alberta government Friday for forcing companies to curtail oil production in the province, calling the move a “drastic, dramatic manipulation in the market” that has made crude-by-rail shipments uneconomic.With the stroke of a pen, the government began picking winners and losersRich Kruger, CEO of Imperial Oil“We think investor…




Alberta, B.C. say steel safeguards are undermining infrastructure projects

Alberta, B.C. say steel safeguards are undermining infrastructure projects

Alberta and British Columbia want Ottawa to scrap safeguards on a range of imported steel products, arguing they are undermining crucial infrastructure projects and eroding the competitiveness of local firms.The Canadian International Trade Tribunal (CITT) began hearings this week into whether provisional safeguards — imposed in October on imports of seven different steel products —…