Category: Oil & Gas

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Canada Proposes New Regulations to Strengthen Rail Security for the Transportation of Dangerous Goods

July 10, 2017

On June 24, 2017, the federal government proposed new regulations under the Transportation of Dangerous Goods Act, entitled the Transportation of Dangerous Goods by Rail Security Regulations (Rail Security Regulations). The Rail Security Regulations are intended to strengthen the security of Canada’s rail system from potential sabotage or terrorist attack. Once enacted, the Rail Security Regulations will also bring Canada’s…

Emission Limit Implementation Recommendations from Alberta’s Oil Sands Advisory Group

June 30, 2017

On June 16, 2017, the Alberta Oil Sands Advisory Group (OSAG) released its report, Recommendations on Implementation of the Oil Sands Emissions Limit Established by the Alberta Climate Leadership Plan, which sets out recommendations for implementing and remaining within the 100 megatonne (MT) per year greenhouse gas (GHG) emissions limit for the oil sands sector (Emissions Limit) articulated in Alberta’s…

Canada Publishes Technical Paper, Reveals Federal Carbon Pricing Plan

May 31, 2017

On May 18, 2017, Environment and Climate Change Canada released the Technical Paper on the Federal Carbon Pricing Backstop (Technical Paper), which provides an overview of the prospective federal carbon emissions pricing system and insights on how the federal carbon price will take shape. Canadian stakeholders, businesses and the public have been invited to provide comments on the Technical Paper…

Ontario’s First Cap-and-Trade Auction Sells 100 Per Cent of 2017 Allowances

April 5, 2017

The Ontario Ministry of the Environment and Climate Change (MOECC) held the first auction of greenhouse gas (GHG) allowances on March 22, 2017 and published the auction’s results on April 3, 2017. All 2017 allowances were sold at the auction at a settlement price of C$18.08 per tonne of GHG. For further details of the new cap-and-trade legislative measures, please…

2017 Federal Budget – Selected Tax Measures

March 23, 2017

On March 22, 2017 the Minister of Finance introduced Canada’s 2017 Federal Budget (2017 Budget). Despite persistent rumours, no change was proposed to the capital gains inclusion rate. The 2017 Budget does include a mix of targeted anti-avoidance rules, legislative responses to recent jurisprudence, and other narrow changes to address perceived problems in the existing provisions of the Income Tax…

Small-Scale Canadian LNG Projects Quietly Growing as an Alternative Power Source

February 16, 2017

The development of Canada’s liquefied natural gas (LNG) export industry has attracted much attention in recent years as large and mid-scale LNG export projects in British Columbia and Eastern Canada have shifted from a surge in initial project development to increased uncertainty in the face of depressed global LNG prices. What has attracted less attention over this time is the…

Mergers & Acquisitions: Trends to Watch in 2017

December 21, 2016

2016 AND LOOKING FORWARD Canadian M&A activity rose once again in 2016, surpassing a record-breaking 2015 to become the most active year in Canadian deal-making history. In terms of deal value, 2016 will be second only to the peak of 2007. The aggregate value of announced deals to date is C$399.9-billion, while announced deal volume reached an impressive 3,100 transactions….

Plan of Arrangement: A Vote for All? Not So, Says Court of Appeal

November 30, 2016

In Smoothwater Capital Corporation v. Marquee Energy Ltd. (Smoothwater), the Alberta Court of Appeal (Court) overturned the Alberta Court of Queen’s Bench controversial decision granting shareholders of an acquiring company a vote in a plan of arrangement. For further information, please see our October 2016 Blakes Bulletin: A New Arrangement? Alberta Court Requires Shareholder Vote for Acquiring Company in a…

Ontario Announces Proposal for Cap-and-Trade Offset Credits Protocols

November 21, 2016

On November 15, 2016, Ontario’s Ministry of Environment and Climate Change (MOECC) posted its Offset Credit Regulatory Proposal on the Environmental Registry, where it will be available for comment until December 30, 2016. Offset Credits will increase the compliance options for facilities covered by the cap-and-trade program and they will extend the environmental benefits of greenhouse gas (GHG) mitigation. For…

A New Arrangement? Alberta Court Requires Shareholder Vote for Acquiring Company in a Plan of Arrangement

October 11, 2016

In a recent Court of Queen’s Bench of Alberta case,  Alberta Oilsands Inc. (Re) (Alberta Oilsands), Justice A. D. Macleod made a surprising decision in the context of a plan of arrangement under the Business Corporations Act of Alberta (ABCA). Justice Macleod held in Alberta Oilsands that shareholders of an acquiring company in a plan of arrangement, at least on…

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