Canadian Underwriter

Keyword
oilsands

News Insurance

Oilsands tailings ponds leaking; federal enforcement unclear: report  

September 4, 2020 Bob Weber - THE CANADIAN PRESS

An international environmental watchdog says there’s convincing evidence that oilsands tailings ponds are leaking.   “There is strong scientifically valid evidence of … seepage into near-field groundwater around tailings ponds,” says a report from the Commission on Environmental Co-operation, a body

News InsuranceLegal

Oilsands carbon liability at centre of fraud lawsuit

October 24, 2019 by Jason Contant

Alberta’s oilsands are at the centre of a closely watched court battle in New York today. The state’s attorney general is accusing Exxon Mobil of misrepresenting the risks the operations face as governments move to fight climate change. Court documents

News CatastrophesClimate ChangeConstructionInsuranceLegislation / RegulationMarkets / Coverages

Alberta advisory group recommends penalties for heavy oilsands emitters if cap hit

June 19, 2017 Ian Bickis - THE CANADIAN PRESS

CALGARY – Oilsands producers could face steep fines and suspended projects if industry comes close to hitting a mandated 100-megatonne limit under recommendations proposed by Alberta’s Oil Sands Advisory Group. But the non-binding report sets out a series of policies

News InsuranceMergers and AqcuisitionsTechnology

CN to spend $500 million on technology with eye on driverless truck threat

June 14, 2017 Ross Marowits - THE CANADIAN PRESS

MONTREAL – Canadian National Railway says it will spend $500 million over the next five years on technology to improve its safety, efficiency and competitive edge, partly in response to the potential threat posed by driverless trucks. CEO Luc Jobin

News CatastrophesInsuranceMergers and Aqcuisitions

Supply line leak led to fire at Alberta oilsands facility, Syncrude says

March 16, 2017 Dan Healing - THE CANADIAN PRESS

FORT MCMURRAY, Alta. – A fire that broke out at a Syncrude oilsands site in northern Alberta was the result of a supply line that broke and leaked light oil, a company spokesman said Wednesday. Crews were allowing the blaze

News CatastrophesMergers and Aqcuisitions

Explosion, fire hit Alberta Syncrude oilsands site

March 15, 2017 THE CANADIAN PRESS

FORT MCMURRAY, Alta. – Syncrude says most of its workforce has returned to an oilsands site in northern Alberta after an explosion and fire Tuesday. But company spokesman Will Gibson couldn’t say whether production has resumed after a fire erupted

News InsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

Supreme Court of Canada to hear appeal from subcontractor arguing trustee must notify potential claimants of existence of surety bond

March 9, 2017 by Canadian Underwriter

The Supreme Court of Canada announced Thursday it will hear an appeal from a subcontractor on an oilsands project who is trying to sue a general contractor for failing to inform it of the existence of a surety bond. Court

News CatastrophesInsuranceMergers and Aqcuisitions

Financial impact of Fort McMurray wildfire reaches $9.5 billion: study

January 17, 2017 Bob Weber - THE CANADIAN PRESS

EDMONTON – An assessment of the total financial impact of last spring’s Fort McMurray wildfire is pegging the direct and indirect costs of the blaze at $9.5 billion. The figure includes the expense of replacing buildings and infrastructure as well

News InsuranceMarkets / Coverages

Carbon price won’t be deciding factor for oilsands development: report

November 23, 2016 Ian Bickis - THE CANADIAN PRESS

CALGARY – Alberta’s incoming carbon taxes will have a minimal effect on new oilsands development compared with oil prices and market access, says a new report. TD Bank economist Dina Ignjatovic said in the paper released Tuesday that if oil

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

Back to business results expected from oilsands as wildfire impact dissipates

October 26, 2016 Dan Healing - THE CANADIAN PRESS

CALGARY – Oilsands producers are expected to report back-to-business third-quarter results over the next few days as they shrug off lingering impacts of last May’s devastating wildfires in Fort McMurray, Alta. While provincial estimates report that Alberta oilsands production dropped

News Climate ChangeConstructionInsuranceMarkets / CoveragesTechnology

Oilsands carbon capture and storage project reaches one-year milestone

September 14, 2016 by Canadian Underwriter

Shell Canada has announced that the Quest carbon capture and storage (CCS) project has captured and stored one million tonnes of carbon dioxide (CO2) underground “ahead of schedule” in its first year of operation. Quest is the first CCS project

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Higher prices from Fort McMurray wildfire to boost Q2 energy company results

July 21, 2016 Dan Healing - THE CANADIAN PRESS

CALGARY – Analysts predict oil prices driven higher by production stoppages during the Fort McMurray, Alta., wildfires in May will bolster the bottom lines of Canadian oil and gas companies as they report financial results starting this week. Western Canada