CALGARY, Jan. 30, 2014 /CNW/ - The National Energy Board (NEB or Board) today released its report recommending that the federal government approve the Enbridge Pipelines Inc.'s (Enbridge) Edmonton to Hardisty Pipeline Project (Project). The Project includes the construction and operation of a new crude oil pipeline, approximately 182 km in length, from its existing Edmonton Terminal, near Edmonton, AB to its existing Hardisty Terminal, near Hardisty, AB. A public hearing was held as part of [Read more]
Archives for January 2014
Feds ask National Energy Board, Competition Bureau, to study propane price jumps
OTTAWA - The federal government is calling for an investigation of a propane supply crisis that has seen prices for the fuel more than double since the fall. Natural Resources Minister Joe Oliver says he will ask the National Energy Board and Competition Bureau to review the price increases and propane shortages that have affected rural areas mainly in eastern Ontario and western Quebec. Earlier this week, Ontario Energy Minister Bob Chiarelli pleaded with Oliver to hold a teleconference [Read more]
Canadian dollar will fall to 87 cents this year, says BMO Economics
TORONTO - Watch for the Canadian dollar to lose more of its shine this year, cautioned a report Thursday by the Bank of Montreal. BMO Senior economist Benjamin Reitzes says a variety of factors, from an increasingly dovish tone from the Bank of Canada and further tapering action from the U.S. Federal Reserve, will continue to drag down the loonie. "Look for the loonie to weaken to C$1.15 (87 U.S. cents) around mid-year or perhaps sooner, given the speed of the recent depreciation," he [Read more]
Altima Enters Into Participation Agreement for Rework and Re-Completion of 3-17-41-11 W5M Well at Chambers-Ferrier, Alberta
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 30, 2014) - Altima Resources Ltd. (TSX VENTURE:ARH) (FRANKFURT:AKC) (PINKSHEETS:ARSLF) announces that it has entered into a Participation Agreement with Acumen Energy Partners Inc. ("Acumen"), pursuant to which Acumen has been granted the right to earn a 20% working interest (the "Working Interest") in the 3-17-41-11 W5M well (the "Well") and section 17-41-11 W5M (the "Lands") located in the Chambers-Ferrier area of the Western Canada Sedimentary [Read more]
Imperial Oil announces estimated fourth quarter financial and operating results
CALGARY, Jan. 30, 2014 /CNW/ - Fourth quarter Twelve months (millions of dollars, unless noted) 2013 2012 % 2013 2012 % Net income (U.S. GAAP) 1,056 1,076 (2) 2,828 3,766 (25) Net income per common share - assuming dilution (dollars) 1.24 1.26 (2) 3.32 4.42 (25) Capital and exploration [Read more]
Crocotta Energy Provides 2014 Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 30, 2014) - Crocotta Energy Inc. ("Crocotta" or the "Company") (TSX:CTA) is pleased to announce 2014 Guidance. CAPITAL PROGRAM AND GUIDANCE Crocotta has approved a budget that entails spending approximately $110 million in 2014 with the focus on Cardium oil at Edson, Bluesky liquids-rich gas at Edson, and Montney liquids-rich gas at Dawson. The budget will be spent approximately 45% in the first half of the year and 55% in the second half and be [Read more]
Shell 4Q earnings fall 74 per cent
AMSTERDAM - Shell's earnings have dropped by 74 per cent in the fourth quarter from the same period a year ago, on a mix of higher exploration costs, lower production, and worse refining margins. The company, which warned on Jan. 17 weaker figures were coming, also had more one-time gains in 2013. Net profit for the quarter was $1.78 billion (130 billion euros), versus $6.73 billion a year earlier. The earnings report, the first featuring new Chief Executive Ben van Beurden, noted that [Read more]
Hyperion Exploration Corp. Announces Sale of Non-Core, Chip Lake Assets
CALGARY, ALBERTA--(Marketwired - Jan. 29, 2014) - Hyperion Exploration Corp. ("Hyperion" or the "Corporation") (TSX VENTURE:HYX) announces that it has entered into a definitive purchase and sale agreement to divest 100 boe/d of non-core, gas weighted production in the Chip Lake Area of Central Alberta for cash consideration of $3.4 million (the "Disposition"). The Disposition is expected to close on January 31, 2014. Proceeds from the sale of the Chip Lake assets will be used to reduce [Read more]
Canadian officials encouraged by forthcoming State report on Keystone XL
WASHINGTON D.C., United States - Canadian officials in both Washington and Ottawa say they're encouraged by what they're hearing about a forthcoming State Department report on the potential environmental impact of the Keystone XL pipeline. The officials, speaking on condition of anonymity because the report is not yet public, say it could be ready for release within days and will bolster the case for the controversial energy project. One source in Washington warns, however, that there [Read more]
Propane shortages prompting state officials to act
LOUISVILLE, Ky. - Supply problems in several states where propane is a crucial heating source have prompted governors and other officials to take action against vendors, investigate claims of price gouging and increase aid to low-income customers.The propane drain coincides with extreme cold temperatures in several Midwestern and Southern states where residents and business owners are struggling to keep heating tanks filled due to increased costs or supply cut-offs."The industry as a whole [Read more]
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