Canada’s oil sands News

Toxic Spills at Alberta’s Oil Sands Spur Canada to Boost Regulatory Oversight

Canada’s federal government is stepping up environmental oversight in Alberta’s oil sands after Imperial Oil Ltd. and the provincial regulator were slow to report toxic spills. Environment Minister Steven Guilbeault has proposed a joint federal-provincial-Indigenous working group with the involvement …

Canada’s Trans Mountain Pipeline Wants to Keep Insurers Secret from Project Protestors

Trans Mountain Pipeline LP is petitioning to keep the insurers of its controversial Canadian oil sands pipeline confidential as environmental groups urge insurance companies to drop their coverage. The pipeline company normally discloses the insurance companies in a so-called Financial …

Zurich Insurance Decides Not to Renew Cover for Canada’s Trans Mountain Oil Pipeline

Insurer Zurich has decided not to renew cover for the Canadian government’s Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some indigenous groups. All financial services companies are under pressure from …

Insurers Zurich and Chubb Raise Cover for Canada Oil Sands Pipeline: Filings

Major insurers Zurich and Chubb increased their insurance cover for a Canadian oil sands pipeline over the last year, Canadian regulatory filings show. The Trans Mountain pipeline, which ships types of crude oil and refined products to British Columbia from …

Insurers Pressured to Drop Coverage of Canada’s Oil Sands Pipeline

A coalition of 32 environmental and indigenous groups on Thursday urged insurers to stop underwriting the Trans Mountain pipeline to pressure Canada to cancel its plan to expand the project, which carries crude from Alberta’s oil sands to British Columbia’s …

Canada’s Oil Sands Facilities Prepare to Restart as Wildfires Begin to Slow

All of the Canadian oil-sands facilities that workers fled last week as a wildfire spread are being allowed to prepare for restart as cool, humid weather has helped contain the inferno. Alberta lifted mandatory evacuation orders for the last of …

Alberta Wildfires Could Cost $7B with Minimal Insurer Credit Hit: Ratings Agencies

The Fort McMurray wildfires, which have been raging through northern Alberta, Canada since May 1, are likely to be the costliest natural disaster in Canadian history, according to recent reports issued by catastrophe modeling firm AIR Worldwide, rating company DBRS …

Alberta Wildfires Spread North, Threatening Oil Sands Facilities, Workers’ Camps

Wildfires raging across northern Alberta for more than two weeks have come to within a kilometer of an Enbridge Inc. oil-sands transportation terminal as warm weather and wind spread the flames, while workers were evacuated from camps north of Fort …

Alberta Wildfires Spare Almost 90% of Fort McMurray, Canada’s Energy Hub

The massive wildfires that swept through Canada’s energy hub of Fort McMurray left almost 90 percent of the city intact, including most of the downtown core, while completely leveling some neighborhoods. “This city was surrounded by an ocean of fire …

Alberta Wildfires Could Hit Canada Economy Harder than Hurricane Katrina in US

Intact Financial Corp. may post insured losses of as much as C$1.1 billion ($850 million) from the wildfires in Alberta, which could dent the Canadian economy harder than Hurricane Katrina hit the U.S. Intact, Canada’s biggest property and casualty insurer, …