WASHINGTON - With TransCanada's Keystone XL pipeline dominating environmental debate in the United States, efforts by America's struggling coal industry to boost coal exports to Asia have flown largely under the public's radar.Freight trains almost two kilometres long are already hauling coal from Montana and Wyoming to the Pacific Northwest, where it's then shipped to energy-hungry Asian nations that have few qualms about burning the maligned fossil fuel. The $40-billion U.S. coal [Read more]
Archives for July 2013
Oil rises near US$100 a barrel as Egypt protests continue, traders eye demand
NEW YORK - Oil nearly reached US$100 a barrel for the first time this year, as traders worried about disruptions to Mideast supplies while anticipating an increase in oil demand in the U.S.U.S. benchmark crude for August delivery gained $1.61, or 1.6 per cent, to close at $99.60 a barrel in New York after rising as high as $99.87. Oil last crossed $100 a barrel on Sept. 14 of last year.In London, Brent crude rose $1 to finish at $104 a barrel on the ICE Futures exchange.Protests in [Read more]
Oil above US$98 a barrel as military issues ultimatum to embattled Egypt leader
The price of oil advanced past US$98 a barrel Tuesday, underpinned by political unrest in Egypt that raised fears of disruption to global crude supplies.By early afternoon in Europe, benchmark West Texas Intermediate crude for August delivery was up 37 cents at US$98.36 a barrel in electronic trading on the New York Mercantile Exchange. The contract had jumped $1.43 to close at US$97.99 on Monday.After massive weekend protests in Egypt that continued Monday, the country's military [Read more]
Bonterra Energy Corp. Announces Exercise of Over-Allotment Option and Completion of $27.6 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - July 2, 2013) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA Bonterra Energy Corp. (Bonterra) (www.bonterraenergy.com) (TSX:BNE) announces that it has closed its recently announced bought deal financing of 553,725 common shares ("Common Shares"), which includes the exercise in full of the over-allotment option of 72,225 Common Shares, at $49.85 per Common Share for aggregate gross proceeds of [Read more]
Enbridge Restarts Wood Buffalo Pipeline
CALGARY, ALBERTA--(Marketwired - July 2, 2013) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) today confirmed the return to service of the Wood Buffalo Pipeline (Line 75) between Fort McMurray and Cheecham early on July 2. The Wood Buffalo Pipeline had been shut down as a precaution following the June 22 release of light synthetic crude oil from Line 37 with which it shares a corridor. The failure of Line 37 was confirmed to have been caused by a 1-in-100 year rainfall event last week, which triggered [Read more]
Ivanhoe Addresses Fort McKay First Nation Concerns Regarding the Tamarack Project
CALGARY, July 2, 2013 /CNW/ - Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) announced today that it has established a long-term relationship with the community of Fort McKay, including the Fort McKay First Nation and the Fort McKay Metis Community Association. This relationship is based on respect for the community's efforts to preserve their traditional way of life. As a result of the establishment of this relationship, the community has provided a letter to the regulators confirming they have [Read more]
No end in sight for protests against shale gas exploration in New Brunswick
FREDERICTON - The New Brunswick government is pitching the development of a shale gas industry in the province as a potential economic boom and job creator, but opponents are strengthening their resolve to block the idea, right at the exploration stage.Since early June, there have been protests while SWN Resources conducts the latest series of seismic testing near Elsipogtog, north of Moncton.Chief Arren Sock of the Elsipogtog First Nation is calling for an immediate moratorium on [Read more]
Enbridge Restarts Athabasca Pipeline; Provides Update on Regional Oil Sands System Status
CALGARY, ALBERTA--(Marketwired - July 1, 2013) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) today confirmed the return to service of the northern segment of the Athabasca Pipeline (Line 19) between Fort McMurray and Cheecham on June 30th. Enbridge continues to make progress in responding to the June 22nd release from its Line 37 pipeline; the failure of Line 37 has been confirmed to have been caused by a 1-in-100 year rainfall event last week which triggered ground movement on the [Read more]
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