Cenovus Energy to buy remaining stake in Toledo refinery from BP for $300 million

Cenovus Energy to buy remaining stake in Toledo refinery from BP for $300 million

Cenovus Energy Inc. has signed a US$300-million deal that it says marks another step forward in its long-term strategy to integrate its heavy oil production with refining capability. 

The Calgary-based oil company announced Monday it has reached a deal with British energy giant BP to buy the remaining 50 per cent stake in the BP-Husky Toledo Refinery in Ohio. The two companies have also signed a multi-year product supply agreement.

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Arcola town hall: Scott Moe on refining our oil, and value-added industries

Arcola town hall: Scott Moe on refining our oil, and value-added industries

One question centred on refining our oil product and access to markets. Moe touched on value added processing and a recent micro refinery near Kerrobert.
Harrison spoke about how oil and gas has been affected by uncertainty from the federal government.
Moe noted how one Saskatchewan farmer recently told the federal agriculture minister, “The biggest risks to my current enterprise is government policies.”

Arcola town hall: Scott Moe on loss of Ceres canola crush plant, carbon credits, agricultural zero till, oil and gas

Arcola town hall: Scott Moe on loss of Ceres canola crush plant, carbon credits, agricultural zero till, oil and gas

The question from Murray Henderson of Alameda asks about how Ceres Global Ag recently suspended its planned $350 million canola crushing plant at Northgate, and how it may have been lost due to the federal carbon tax. Moe and Bonk touched on recognizing the innovation in zero tillage and how agriculture should be recognized as a carbon sink. Listen to the end to hear a rather comical interaction Moe had with Catherine McKenna when he was environment minister and she was the federal environment minister.

Arcola town hall: Scott Moe on coal power, natural gas power, carbon capture and storage

Arcola town hall: Scott Moe on coal power, natural gas power, carbon capture and storage

Asked by Dave Sanders about how much the federal government is contributing to upgrading Saskatchewan’s power generation, Premier Moe explained the position federal policies have put us in. He touched on coal and natural gas, going back to the Harper administration, and the current Trudeau administration. Murray Henderson, a former coal miner, asked about coal as well as electric vehicles.

Arcola town hall: Scott Moe on fuel prices, possible cash to the people, carbon tax, separation, fertilizer, and energy security

Arcola town hall: Scott Moe on fuel prices, possible cash to the people, carbon tax, separation, fertilizer, and energy security

Asked by Gordon Dixon, a farmer, about rising fuel prices and the federal carbon tax, Premier Moe hinted at possible options including looking at fuel taxes, possible cash refunds to the population, and deficit repayment. He also tackled the concept of Saskatchewan separating from Canada, federal jurisdiction, a “nation within a nation,” fertilizer and energy security.

David Yager: B.C.’s taxpayer-funded climate virtue-signalling

David Yager: B.C.’s taxpayer-funded climate virtue-signalling

The biggest mistake these companies have made is selling transportation fuel in B.C. 

And the communities they have reliably served for decades are being urged to use their citizens’ tax dollars to bring them to their knees. 

While overlooking the fact that without car, truck, boat, rail and airplane fuel, many of these municipalities wouldn’t exist.

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Environmental groups protest proposals to build LNG terminals on Canada’s East Coast

Environmental groups protest proposals to build LNG terminals on Canada’s East Coast

A coalition of environmental groups is calling on Ottawa to reject any proposals to build export facilities for liquefied natural gas on Canada’s East Coast, saying such projects will produce “climate-wrecking emissions.”

The coalition, which includes the Sierra Club Canada Foundation and Climate Action Network Canada, issued a statement Thursday that also takes aim at the financial risks associated with multibillion-dollar ventures that could take several years to come on stream.

Suncor’s Q2 net profit increases more than fourfold year-over-year

Suncor’s Q2 net profit increases more than fourfold year-over-year

Suncor Inc. says it earned $3.99 billion in the second quarter of 2022, or $2.84 per common share, more than four and a half times the $868 million it earned in the same period of 2021.

The Calgary-based oil producer and refiner, which reported after markets closed Thursday, says its adjusted funds from operations hit $5.35 billion in the quarter, the highest in the company’s history by 33 per cent.

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Poilievre skips Conservative leadership debate, shows up in Weyburn, Estevan, Regina and Moosomin instead

Poilievre skips Conservative leadership debate, shows up in Weyburn, Estevan, Regina and Moosomin instead

Frontrunner Conservative leadership candidate Pierre Poilievre skipped a national leadership debate to make his second visit to southeast Saskatchewan in two months on Aug. 3, making stops in Weyburn, Estevan and Moosomin as well as Regina that day.

After a meet and greet in Weyburn, he came out to Jason and Sherrill LeBlanc’s farm, west of Estevan, for another meet and greet with supporters. There, a backdrop of representative equipment from local businesses and the farm was lined up. There was a picker truck, a semi of bales, a dump truck of coal, a cement truck, a tractor and combine, each meant to show a different part of the local economy – oil, ranching, coal mining and power, industry and farming.

Grounded Lithium just drilled its first targeted lithium well in Saskatchewan, only the second of its type in this province

Grounded Lithium just drilled its first targeted lithium well in Saskatchewan, only the second of its type in this province

On Aug. 2, a new lithium exploration company, Grounded Lithium Corp., was wrapping up its first targeted lithium well. It’s the first in what the company is calling their Kindersley Lithium Project (KLP).

That makes Grounded just the second company in Saskatchewan to specifically drill for lithium, as opposed to oil, gas, potash or helium. A little under a year ago, Prairie Lithium was the first, having drilled its initial exploration well near Torquay.

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Feds, province pump more money into rail line to Churchill, Man.

Feds, province pump more money into rail line to Churchill, Man.

OmniTrax had proposed shipping oil through Churchill but backed down after facing opposition, largely over fears that the tracks on the uneven terrain could lead to a spill. 

Some have floated the idea of shipping liquefied natural gas through Churchill. More recently, Conservative party leadership candidate Pierre Poilievre promised to move oil through Churchill in the form of bitumen pucks, which are designed to be less volatile than standard oil and which can float in water.

Saskatchewan drilling rig report for Aug 2

Saskatchewan drilling rig report for Aug 2

Drilling rig activity in Saskatchewan is seeing consistent activity in all regions of the province, as well as three companies drilling for helium and one for lithium. That’s according to Canadian Association of Energy Contractors data, published by RiggerTalk.com. In...

Quick Dick McDick: Small town Saskatchewan

Quick Dick McDick: Small town Saskatchewan

Quick Dick McDick takes a brief break from criticizing the government to take part in some small town Saskatchewan fun. We’re talking a car show and slow pitch tournament, followed by the obligatory visit to the ER. (My wife’s an ER nurse, so she gets to patch people up like this all the time.) “Happy Saskatchewan Day, one day late,” he said.