New rates clinched to pipe Alberta gas
Article Abstract:
TransCanada PipeLines Ltd., a Calgary, Alberta-based company, has agreed with petroleum producers on a new receipt-point pricing scheme on the Nova Gas Transmission Ltd. pipeline in Alberta. The new rate structure would replace the flat postage-stamp rate that petroleum companies have to pay to ship gas anywhere along the Nova Gas pipeline. The price would range between C$0.18 and C$0.34 per one thousand cubic ft of gas based on their location in Alberta. The deal between TransCanada and natural gas producers must still get approval from the gas marketers, consumers and the Alberta government. TransCanada acquired the Nova Gas pipeline from Calgary-based Nova Corp. in a merger Nova's pipeline division.
Comment:
Agrees with petroleum producers on a new receipt-point pricing scheme on the Nova Gas pipeline in Alberta
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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PanCanadian creates heavy oil subsidiary
Article Abstract:
PanCanadian Petroleum Ltd., a Calgary, Canada-based oil producer, is transferring two-thirds of its heavy-oil production into a new, wholly-owned subsidiary to be called Van Horne Oil & Gas Ltd. The new company would handle around 25,000 barrels per day of heavy oil production. Alan Boras, Pan Canadian spokesman, said that the company believes that an independent company could more comfortably handle the heavy oil production, the greater part of which is in the area of Lloydminster close to the Alberta-Saskatchewan border. Van Horne will have its own board of directors.
Comment:
Is to be formed as a wholly-owned subsidiary of PanCanadian Petroleum Ltd to handle heavy oil production
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Nova grants stock options to all staff
Article Abstract:
Nova Corp. of Calgary, Alberta, has offered stock options to all of its 3,600 employees. The stock option, a practice that is widely applied in the US but is still relatively rare in Canada, allows the chemical maker's employees to purchase 100 shares of stocks in the firm for C$24.95 per share, the closing price on Jul. 31, 1998, trading at the Toronto Stock Exchange. The program, aimed at linking the firm's success with stock performance, must be availed by the employees beginning on Jul. 31, 1999, up to Jul. 31, 2008.
Comment:
Has offered stock options to all of its 3,600 employees
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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