This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery lost $1.03 to $49.56 on the New York Merc, while Brent for December lost $1.01 to $51.67 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.95 to WTI ($35.61), up from a discount of $14.00. Natural gas for November shot up 13 cents to $3.17. The TSX energy index lost a fraction to close at 204.85.

Infrastructure-strapped Montney gas producers saw a ray of light yesterday afternoon, after the National Energy Board (NEB) recommended the conditional approval of TransCanada's Towerbirch expansion project, a proposed increase to the NGTL system. The $439-million expansion would involve building nearly 90 kilometres of new gas pipelines and associated facilities in northeastern B.C. and northwestern Alberta. TransCanada submitted the project description in May, 2015, and the NEB has now come to the conclusion that the project is unlikely to cause significant environmental effects, is in the Canadian public interest and should be approved by the federal government, subject to 24 conditions. Environment and Climate Change Canada has also released an assessment of the upstream greenhouse gas emissions associated with the project (that is, the emissions from the increased production that the project will enable). Although the assessment reached the woolly conclusion that the effect is "uncertain," it did state that the Montney "appears to produce relatively low-GHG-emission natural gas," which should be a point in the project's favour. The federal government is expected to make its decision in December.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS