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Alberta Energy Regulator restricts river water use by oil sector, cites drought

EDMONTON — The Alberta Energy Regulator is restricting how much water oilsands and other energy projects can withdraw from part of the Athabasca River and other rivers in the province.

It cites dry weather and low flow conditions for its decision that suspends water withdrawals under some temporary diversion licences.

Canada Pension Plan Investment Board signs joint venture in Malaysia

TORONTO — The Canada Pension Plan Investment Board is venturing into the Malaysian real estate business for the first time.

The CPPIB has purchased a 49 per cent stake worth about $170 million in a joint venture to invest is a mixed-use development in the capital of Kuala Lumpur with Malaysia’s Pavilion Group.

B.C. fire destroys 30 homes

OLIVER, B.C.—Residents in southeastern British Columbia are regrouping from an immense and fast-spreading wildfire that so far has wiped out 30 homes and forced hundreds to flee with little more than the clothes on their backs.

Kerstin Klenheimer and her husband deserted their house when the 37-sq.-km Rock Creek fire broke out Thursday evening.

Gas prices take big jump

CALGARY—Western Canada is being hit with the twin pains of the lowest prices for heavy crude in years alongside a significant spike in gasoline prices following a shutdown at a major U.S. refinery.

Much of Canada west of Ontario saw gasoline prices jump 15 cents a litre last week for one of the biggest increases on record, says Dan McTeague, a senior petroleum analyst at