EDMONTON - An Alberta First Nation says court documents suggest political and industry pressure hustled approvals for an oilsands pipeline through regulators and reduced aboriginal consultation. "Our concern is that this project was being pushed through too quickly and it would not meet the standards for consultation and review," said Eriel Deranger of the Athabasca Chipewyan First Nation. "That's exactly what happened." Officials with the Alberta Energy Regulator say repeated [Read more]
Archives for September 2016
As seas heaved, 20-tonne pipe fell to within 12 metres of offshore oil well
HALIFAX - When heaving waters in the North Atlantic wrenched a string of massive steel pipes from a drilling ship off Nova Scotia's coast, one of the 20-tonne sections of the plummeting coil struck the seabed just 12 metres from the top of an undersea oil exploration well. The distance is one of several details in a Shell Canada accident report received through access to information legislation, prompting critics to say the entire incident was too close for comfort in an area near one of [Read more]
Blackbird Energy Inc. Announces Regulatory Approval for Its Infrastructure Development, Commencement of Fall Drill Program, Loan Facility Approval and Appointment of Vice President, Land
CALGARY, ALBERTA--(Marketwired - Sept. 29, 2016) - Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is very pleased to announce the receipt of regulatory approval for its infrastructure development, the commencement of its fall drill program, the approval of a Revolving Operating Loan Facility with Alberta Treasury Branches ("ATB Financial") and the appointment of a Vice President, Land. Regulatory Approval of Infrastructure Development and Commencement of [Read more]
Hess Corporation Calls Outstanding Notes Due in 2017 for Redemption
NEW YORK--(BUSINESS WIRE)--#exploration--Hess Corporation (NYSE: HES) announced today that it will redeem all of its outstanding 1.300% Notes due June 15, 2017 (the “Notes”). The formal notice of redemption was sent today to holders of the Notes, by The Bank of New York Mellon, the trustee under the indenture governing the Notes. The Notes will be redeemed on October 28, 2016 (the “Redemption Date”) at a redemption price to be calculated on the third [Read more]
Teekay LNG Partners Announces Pricing of Series A Preferred Offering
HAMILTON, BERMUDA--(Marketwired - Sept. 28, 2016) - Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) announced today that it has priced its public offering of 5,000,000 9.0% Series A Cumulative Redeemable Perpetual Preferred Units (Series A Preferred Units), representing limited partner interests, at $25.00 per unit. Distributions will be payable on the Series A Preferred Units at a rate of 9.0% per annum of the stated liquidation preference of $25.00. The offering is expected [Read more]
Pacific Northwest LNG: Canada is a day late and dollar short in this business
I have to say that this recent, so-called approval has a kind of 'please come to our destination wedding' feel to it. You know what that is, right? Seinfeld's unvitation. A wedding invitation given out with almost the express purpose of limiting attendance to those with the financial wherewithal to attend. The more remote the venue, the better. The unvitations can be spread far and wide to people the happy couple doesn't even like because the chances of them showing up are virtually zero. They [Read more]
EOG Resources Declares Quarterly Dividend on Common Stock
HOUSTON, Sept. 28, 2016 /PRNewswire/ -- The Board of Directors of EOG Resources, Inc. (NYSE: EOG) (EOG) has declared a dividend of $0.1675 per share on EOG's Common Stock, payable October 31, 2016, to stockholders of record as of October 17, 2016. The indicated annual rate is $0.67. EOG Resources, Inc. is one of the largest independent (non-integrated) crude oil and natural gas companies in the United States with proved reserves in the United States, Trinidad, the United Kingdom and China. [Read more]
A timeline and five things to know about the proposed Pacific NorthWest LNG project in B.C.
Here is a timeline for the proposed Pacific NorthWest LNG project: Feb. 19, 2013: Pacific NorthWest LNG submits its project description to the Canadian Environmental Assessment Agency. April 29, 2013: Japan Petroleum Exploration Co. Ltd. agrees to buy 10 per cent of the liquefied natural gas that would be produced from Pacific NorthWest LNG over at least 20 years. This marks the first secure buyer for the project's LNG. July 5, 2013: Pacific NorthWest LNG applies to the National Energy [Read more]
Future of Pacific NorthWest LNG uncertain amid high costs and depressed market
CALGARY - The Pacific NorthWest LNG project may have secured the federal government's blessing, but it could not have come at a more inopportune time. The world market is awash in liquefied natural gas, a glut that has some wondering whether Malaysian energy giant Petronas and other backers are able to move ahead with the development. "We're just at the start of one of the largest buildups of LNG capacity in history, and we won't see the peak of that until some point in the early [Read more]
Liberal government defends LNG project approval, says impacts will be monitored
OTTAWA - Prime Minister Justin Trudeau used a Goldilocks defence Wednesday in an effort to position the federal Liberals in the sweet spot of a boiling debate over energy development and environmental protection. Less than 24 hours after the government gave conditional approval to a massive liquefied natural gas project in northern British Columbia, Trudeau was in the House of Commons defending the decision, which clears a path for the production of millions of tonnes of greenhouse gases [Read more]
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