+ to Brian Lawson, Sr. Managing Partner & CFO @ Brookfield Asset Management, named CFO of the Year for 2013 by Financial Executives International Calanda, PwC and Robert Half International
+ Northwest Territories granted control of land, oil and gas as Ottawa entered agreement to devolve authority to NWT government – handover scheduled for April 1, 2014 (seriously, that’s no joke .. but you have to think someone in government has a sense of ha+ha)
+ Talisman Energy Norge AS made a settlement to terminate its Yme field Mobile Offshore Production Unit JV with SBM Offshore. SBM to pay US$470 million settlement, Talisman to complete work
+ TNK-BP sale to Rosneft closing this week
+ Vatican City Conclave convenes to elect a new Pope, as leader of 1.2 billion Catholics; Canadian Cardinal Marc Ouellet among rumoured front-runners
NEWS REVIEW Mar. 5 - 11
+ Alberta Legislature Spring Session opened – budget presentation predicts significant changes to government accounting (new Fiscal Management Act), reporting and structure of the information via an Operational Plan and a Capital Plan ; deficit expected; sustainability fund will be tapped, plus borrowing for infrastructure projects will ‘balance’ the books
+ Apache Corp. looking to sell its offshore U.S.Gulf of Mexico assets
+ Huntingdon Capital Corp. pursuit of KEYreit takeover drama continues, accusations back and forth . . .
+ India establishing agency to consider shale gas exploration, assembling foreign expertise
+ OECD (Organization for Economic Co-operation and Development) report says Canada will face a period of weak economic growth
+ Pembina Pipeline Corporation announced it will proceed with expansion of its Natural Gas Liquids infrastructure at three locations in Alberta; capital cost $1 billion
+ PIMCO published a Shale Oil paper dissecting implications for global economy and commodity investors
+ Royal Dutch Shell PLC / Shell Canada looking at cost cutting to reduce oilsands development costs
+ Talisman Energy Inc. announced more layoffs, planning $2-3 billion in divestitures or JV’s, 2013 CapEx Budget set at $3 billion, actively marketing North Duvernay shale assets and part of its Montney holding
+ Toscana Energy Income Corporation closed its $12 million acquisition of light oil assets
+ United Refining Company’s United Biofuels unit acquired 50 million/gallon/yr. biodiesel facility in Brooklyn, NY
+ WestJet and Air France entered into code-share agreement offering 10 Canadian destinations for Air France
INFRASTRUCTURE / P3 / GREEN
+ City of Calgary Council endorsed RouteAhead plan, a 30 yr. transit plan and endorsed s study project to explore funding for a south-east LRT line
+ Port of Prince Rupert broke ground on its $90 million road, rail and utility corridor aimed in supporting increased exports to Asia through their port
+ HOCHTIEF PPP Solutions North America recognized by "Project Finance Magazine", received awards: The Presidio Parkway project in California took "North American Transportation Deal of the Year", and "North American Developer of the Year" award
+ Plenary Health achieved substantial completion- turned over the ceremonial keys to Bridgepoint Hospital in Toronto; 680,000 sq. ft. facility
+ ATCO Electric selected Valard Construction to install transmission infrastructure for the Eastern Alberta Transmission Line; approximately 310 miles (500 kilometers) of 500-kilovolt high-voltage direct current between Edmonton and Calgary
+ Calgary Transit launched two new buses fueled by compressed natural gas, planned to run at 30% lower cost than existing diesels in the fleet (no word on how much of the gas comes from City Council)
+ B.C. Government soliciting public input for a solution to replace the George Massey Tunnel under the FraserRiver; 5 options being considered
QUOTES
“Be willing to make decisions. That’s the most important quality in a good leader.” – Gen. George S. Patton
“All our decisions are made in a state of mind that is not going to last.” – Marcel Proust
