Latest news with #oilsands
Globe and Mail
25-06-2025
- Business
- Globe and Mail
Enbridge says a new Alberta-B.C. pipeline would require specific conditions, including legislative change
Canada's biggest crude oil shipper says a lot needs to happen before it would propose a new pipeline to the West Coast. Alberta Premier Danielle Smith has said she wants to see a pipeline running from her province to the Port of Prince Rupert, B.C., so that more oilsands crude can be exported to Asia by tanker. She told a news conference Tuesday that the province has been in 'active conversations' with pipeline companies and is 'pretty close' to having a one or more come forward with a plan. Smith has said the West Coast pipeline she envisions would test the Liberal federal government's new process to review projects deemed in the national interest within two years. Enbridge Inc. ENB-T, which has a massive pipeline network spanning Canada and the United States, says it will always assess market-diversifying projects, provided there is a demand from the producers it serves. It says in a statement that any new project would require careful consideration and real provincial and federal legislative change around carbon policies, regulatory timelines and Indigenous participation. 'We will be there to build what is needed for our shippers, for Alberta and for Canada – that's our job, our mission as a company – but only when the conditions make sense and the right framework is in place,' Enbridge said. Gary Mason: B.C. and Alberta are about to renew old hostilities. It could get ugly The CEO of federally owned pipeline operator Trans Mountain Corp. told reporters earlier this month that his company is among those Smith has spoken to about spearheading a new pipeline. But Mark Maki said 'optimizing the existing kit' is a priority over building something new for now. Trans Mountain flows to the B.C. Lower Mainland and is currently the only way Alberta producers can meaningfully access Asia-Pacific markets. South Bow Corp. SOBO-T, which operates the Keystone pipeline connecting Alberta crude to refineries in the U.S. Midwest and Gulf Coast, said in a statement it appreciates provincial and federal recognition of the need for increased pipeline capacity. 'South Bow carefully evaluates all opportunities, especially those that complement our current assets and strengthen our existing corridor.'
CBC
25-06-2025
- Business
- CBC
Enbridge says it would pitch new Alberta-B.C. pipeline only under right conditions
Social Sharing Canada's biggest crude oil shipper says a lot needs to happen before it would propose a new pipeline to the West Coast. Alberta Premier Danielle Smith has said she wants to see a pipeline running from her province to the Port of Prince Rupert, B.C., so that more oilsands crude can be exported to Asia by tanker. She told a news conference Tuesday that the province has been in "active conversations" with pipeline companies and is "pretty close" to having a one or more come forward with a plan. Smith has said the West Coast pipeline she envisions would test the Liberal federal government's new process to review projects deemed in the national interest within two years. Enbridge Inc., which has a massive pipeline network spanning Canada and the United States, says it will always assess market-diversifying projects, provided there is a demand from the producers it serves. In a statement, the company says that any new project would require careful consideration and real provincial and federal legislative change around carbon policies, regulatory timelines and Indigenous participation. "We will be there to build what is needed for our shippers, for Alberta and for Canada — that's our job, our mission as a company — but only when the conditions make sense and the right framework is in place," Enbridge said. The CEO of federally owned pipeline operator Trans Mountain Corp. told reporters earlier this month that his company is among those Smith has spoken to about spearheading a new pipeline. But Mark Maki said "optimizing the existing kit" is a priority over building something new for now. Trans Mountain flows to the B.C. Lower Mainland and is currently the only way Alberta producers can meaningfully access Asia-Pacific markets. South Bow Corp., which operates the Keystone pipeline connecting Alberta crude to refineries in the U.S. Midwest and Gulf Coast, said in a statement it appreciates provincial and federal recognition of the need for increased pipeline capacity.
CTV News
25-06-2025
- Business
- CTV News
Enbridge says it would pitch new Alberta-B.C. pipeline only under right conditions
Alberta Premier Danielle Smith speaks at the Global Energy Show in Calgary on Wednesday, June 11, 2025. (THE CANADIAN PRESS/Lauren Krugel) Canada's biggest crude oil shipper says a lot needs to happen before it would propose a new pipeline to the West Coast. Alberta Premier Danielle Smith has said she wants to see a pipeline running from her province to the Port of Prince Rupert, B.C., so that more oilsands crude can be exported to Asia by tanker. She told a news conference Tuesday that the province has been in 'active conversations' with pipeline companies and is 'pretty close' to having a one or more come forward with a plan. The information you need to know, sent directly to you: Download the CTV News App Smith has said the West Coast pipeline she envisions would test the Liberal federal government's new process to review projects deemed in the national interest within two years. Enbridge Inc., which has a massive pipeline network spanning Canada and the United States, says it will always assess market-diversifying projects, provided there is a demand from the producers it serves. It says in a statement that any new project would require careful consideration and real provincial and federal legislative change around carbon policies, regulatory timelines and Indigenous participation. 'We will be there to build what is needed for our shippers, for Alberta and for Canada — that's our job, our mission as a company — but only when the conditions make sense and the right framework is in place,' Enbridge said. The CEO of federally owned pipeline operator Trans Mountain Corp. told reporters earlier this month that his company is among those Smith has spoken to about spearheading a new pipeline. But Mark Maki said 'optimizing the existing kit' is a priority over building something new for now. Trans Mountain flows to the B.C. Lower Mainland is currently the only way Alberta producers can meaningfully access Asia-Pacific markets. South Bow Corp., which operates the Keystone pipeline connecting Alberta crude to refineries in the U.S. Midwest and Gulf Coast, said in a statement it appreciates provincial and federal recognition of the need for increased pipeline capacity. 'South Bow carefully evaluates all opportunities, especially those that complement our current assets and strengthen our existing corridor.' This report by The Canadian Press was first published June 25, 2025. Lauren Krugel, The Canadian Press
CTV News
24-06-2025
- Business
- CTV News
S&P Global revises oilsands outlook upward despite crude market volatility
Suncor's base plant with upgraders in the oilsands in Fort McMurray Alta, on Monday June 13, 2017. THE CANADIAN PRESS/Jason Franson CALGARY — S&P Global Commodity Insights says oilsands output is forecast to rise by half a million barrels from last year's levels by the end of the decade. That would mark a three per cent increase from S&P's previous 10-year outlook for the sector and would be the fourth upward revision in a row. Chief Canadian oil analyst Kevin Birn says the change in trajectory, even during volatile times, reflects how producers are working to improve efficiency from existing operations. Oilsands production is expected to hit a record 3.5 million barrels per day this year — five per cent higher than last year. S&P forecasts output will exceed 3.9 million barrels per day by 2030, but plateau around 3.7 million barrels in 2035. Director of crude oil markets Celina Hwang says the outlook could be dampened by export pipeline constraints, but oilsands operators have proven they can withstand such volatility. --- Lauren Krugel, The Canadian Press This report by The Canadian Press was first published June 24, 2025.
Yahoo
24-06-2025
- Business
- Yahoo
S&P Global revises oilsands outlook upward despite crude market volatility
CALGARY — S&P Global Commodity Insights says oilsands output is forecast to rise by half a million barrels from last year's levels by the end of the decade. That would mark a three per cent increase from S&P's previous 10-year outlook for the sector and would be the fourth upward revision in a row. Chief Canadian oil analyst Kevin Birn says the change in trajectory, even during volatile times, reflects how producers are working to improve efficiency from existing operations. Oilsands production is expected to hit a record 3.5 million barrels per day this year — five per cent higher than last year. S&P forecasts output will exceed 3.9 million barrels per day by 2030, but plateau around 3.7 million barrels in 2035. Director of crude oil markets Celina Hwang says the outlook could be dampened by export pipeline constraints, but oilsands operators have proven they can withstand such volatility. This report by The Canadian Press was first published June 24, 2025. Lauren Krugel, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
