TCPL slashes capital spending budget by 59%

Article Abstract:

TransCanada PipeLines Ltd. (TCPL) has curtailed its 1999 capital spending budget by 59% as it will suspend plans to install new natural gas pipelines in Canada. TCPL, which consolidated its operations with Nova Corp. in early July 1998, declared that it has allotted C$404.5 million for its 1999 expansion project, which will add 156 kilometers to its main lines. The pipeline company also stated that it maintains its commitment to allocate C$825 million in 1998 to improve its main lines in Canada.

Comment:

Curtails its 1999 capital spending budget by 59% as it will suspend plans to install new natural gas pipelines in Canada

Capital expenditures, Natural Gas Distribution, Gas Transmission, Natural gas transmission, Article, Transcanada Pipelines Ltd.

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Petrocan eager to see Ottawa go

Article Abstract:

Petro-Canada Inc (Petrocan), an oil and gas firm based in Calgary, Canada, is eager to see the Ottawa, Canada, government sell its remaining 18% interest in the company to make it more appealing to investors. Company CEO James Stanford stressed it is in favor of changes to a federal legislation that prohibits any private investor from owning over 10% of Petrocan shares. Many investors, specifically those in the US, are not used to buying shares in firms that are partly owned by government.

Asset sales & divestitures, Oil & Gas Extraction, Oil and Gas Extraction, Gas industry, Petro-Canada Inc., Petroleum mining

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Forest fires will drain millions from B.C.'s budget

Article Abstract:

British Columbia is facing huge costs from the province's efforts to battle extensive forest fires. The province, which is expected to spend about $545 million for forest fire control, has experienced the worst forest fires in history with 250,000 hectares damaged in 2003.

British Columbia, Economic aspects, Natural resources, Forest fires

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