Alberta cancels leases near Fort McMurray

Alberta has cancelled some leases ‘to make room for urban development stimulated by oil sands development’. Primary reason was that Fort McMurray requires larger land base to accommodate new residential and commercial growth.

Companies who held leases which have been canceled are:
Value Creation
Alberta Oil Sands
Cavalier Land
E-T Energy
Cenovus Energy
Koch Oil Sands Operating ULC
Suncor Energy
Scott Land & Lease
Laricina Energy
Grizzly Oil Sands ULC

The above companies, according to Alberta Energy, will be compensated for the cancellation of lease.

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BC Rejects Northern Gateway Pipeline Project

BC Rejects Northern Gateway Pipeline Project

BC government rejected the pipeline project on May 31st due to the reason that they did not meet the environmental safety standards concerning spills. This is not the only rejection that occurred recently. US approval for TransCanada Pipeline’s Keystone XL Project have been also delayed due to environmental concerns in crossing the border.

Kinder Morgan’s Trans-Mountain pipeline expansion project may also face difficulties unless strict environmental standards are met.