Latest news with #LaurenKrugel
CTV News
6 hours ago
- Business
- CTV News
Keyera doubles natural gas volumes to be shipped via AltaGas terminal in B.C.
CALGARY — Keyera Corp. has reached an agreement to double the volume of liquefied petroleum gas it plans to export through a West Coast export facility being built by AltaGas Ltd. AltaGas said in February that Keyera had contracted 12,500 barrels per day of capacity to ship the gas to Asia via the Ridley Island Energy Export Facility near Prince Rupert, B.C. The companies announced Monday that will rise to 25,000 barrels per day under 15-year tolling agreements. The facility is to be used to export propane and butane in its first phase, with the possibility of expanding into ethane and other valuable liquids in the future. It's being built next to a propane export facility AltaGas already operates on Ridley Island. AltaGas says the uncertain trade environment has underscored the need for Canadian companies to diversify their export markets beyond the United States. 'AltaGas provides its customers the opportunity for protection against tariff and counter-tariff impacts and ensures access to the highest priced global markets,' it said. 'As Canadian upstream production continues to grow, we believe it is critical to connect more of Canada's vital energy products to premium global markets for the benefit of all Canadians.' This report by The Canadian Press was first published June 9, 2025. Lauren Krugel, The Canadian Press
Yahoo
7 hours ago
- Business
- Yahoo
Keyera doubles natural gas volumes to be shipped via AltaGas terminal in B.C.
CALGARY — Keyera Corp. has reached an agreement to double the volume of liquefied petroleum gas it plans to export through a West Coast export facility being built by AltaGas Ltd. AltaGas said in February that Keyera had contracted 12,500 barrels per day of capacity to ship the gas to Asia via the Ridley Island Energy Export Facility near Prince Rupert, B.C. The companies announced Monday that will rise to 25,000 barrels per day under 15-year tolling agreements. The facility is to be used to export propane and butane in its first phase, with the possibility of expanding into ethane and other valuable liquids in the future. It's being built next to a propane export facility AltaGas already operates on Ridley Island. AltaGas says the uncertain trade environment has underscored the need for Canadian companies to diversify their export markets beyond the United States. "AltaGas provides its customers the opportunity for protection against tariff and counter-tariff impacts and ensures access to the highest priced global markets," it said. "As Canadian upstream production continues to grow, we believe it is critical to connect more of Canada's vital energy products to premium global markets for the benefit of all Canadians." This report by The Canadian Press was first published June 9, 2025. Companies in this story: (TSX: KEY) (TSX: ALA) Lauren Krugel, The Canadian Press
Yahoo
3 days ago
- Business
- Yahoo
Activist investor Engine Capital plans to vote against US$9.1B Parkland-Sunoco deal
CALGARY — A major shareholder in fuel refiner and retailer Parkland Corp. says it plans to vote against its planned takeover by U.S. heavyweight Sunoco LP. Engine Capital owns 2.5 per cent of Parkland's shares, making it one of the Calgary-based company's biggest investors. In a letter to Parkland's board of directors, Engine's leadership argues the Sunoco deal was rushed, the price is too low and that there are likely better options available. A month ago, Parkland and Sunoco announced a friendly cash-and-stock takeover deal valued at US$9.1 billion including debt Shareholders are to vote on the transaction at a meeting set for June 24 in Calgary. Engine says it has nothing against Sunoco and would happy to become a long-term investor in that company — but only if its offer is rejigged to better reflect Parkland's value. This report by The Canadian Press was first published June 6, 2025. Companies in this story: (TSX:PKI) 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
Yahoo
15-05-2025
- Business
- Yahoo
Pipeline company South Bow sees profits, revenues fall in first quarter
CALGARY — Crude pipeline operator South Bow Corp. has reported a drop in quarterly profits and revenues. The Calgary-based company says net income for the first three months of 2025 was $88 million, down from $112 million a year earlier, before it spun off from TC Energy. Net income per share was 42 cents compared to 52 cents during the first quarter of 2024. Revenues were $498 million, a drop from $544 million a year earlier. In early April, a segment of South Bow's Keystone pipeline in North Dakota ruptured, spilling more than 556,000 litres of oil onto farmland. The company said it has recovered most of the spilled oil, aims to fully clean up the site by mid-year and expects insurance policies to cover the remediation costs. In a news release late Thursday, South Bow said there's more crude oil pipeline capacity in Western Canada than there is supply to fill it. "As a result, the demand for uncommitted capacity on South Bow's Keystone Pipeline is expected to remain low in the near term," it said. "Additionally, rapidly changing global trade policies, including tariffs, have introduced economic and geopolitical uncertainty, leading to significant volatility in commodity prices and pricing differentials." The Keystone system starts in Hardisty, Alta., and delivers oilsands crude to refineries in the U.S. Midwest and Gulf Coast, as well as the Cushing, Okla., storage hub. During the first quarter, about 613,000 barrels per day flowed on the line, down from 643,000 a year earlier. This report by The Canadian Press was first published May 15, 2025. Companies in this story: (TSX: SOBO) (TSX: TRP) Lauren Krugel, The Canadian Press Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Whitecap Resources' $15B combination with Veren now official
CALGARY — The $15-billion deal to combine of Whitecap Resources Inc. and Veren Inc. has closed, creating Canada's seventh largest oil and gas producer. The new company is operating under the Whitecap name and management team. It is now the biggest landholder in the Montney and Duvernay shale regions in B.C. and Alberta, with a big light oil footprint in Saskatchewan. Whitecap says it has already reached two agreements to sell non-strategic assets for $270 million. The deals include medium oil production in southwest Saskatchewan and its minority interest in a natural gas facility in northwest Alberta. It's expecting to produce between 295,000 and 300,000 barrels of oil equivalent per day this year with capital spending totalling of about $2.0 billion. This report by The Canadian Press was first published May 12, 2025. Companies in this story: (TSX:WCP) Lauren Krugel, The Canadian Press Sign in to access your portfolio
