VICTORIA - Plans by Malaysian national oil company Petronas to export liquefied natural gas from northern British Columbia to Asia moved forward Friday with the company submitting an export application with Canada's National Energy Board.Pacific NorthWest LNG, backed by a 90-per-cent interest by Petronas, said in a statement the company wants to export up to 19.68 million tonnes of LNG per year for 25 years from a proposed export facility at Port Edward, B.C., near Prince [Read more]
Oil price rises to near US$103 on strong US employment report, unrest in Egypt
NEW YORK (AP) - The price of oil marched higher Friday after a positive report on U.S. hiring and ongoing concerns that the crisis in Egypt might affect Mideast supplies.In midday trading, benchmark West Texas Intermediate crude for August delivery was up $1.56 at US$102.80 per barrel on the New York Mercantile Exchange. On Wednesday, oil closed above at $101.24, the highest level since May 3, 2012. U.S. markets were closed Thursday for Independence Day.Following the ouster of Egyptian president [Read more]
Stampede kicks off
CALGARY – The cleanup carries on but now that the water has receded and the state of emergency cancelled, Calgarians are going to turn their attention to what they do best — throw one heck of a party. The Calgary Stampede kicks off today with its annual parade, a noisy, colourful procession winding through downtown streets that just two weeks ago were submerged beneath muddy floodwaters. Gumboots will give way to cowboy boots as huge crowds gather for the raucous event. It [Read more]
Egypt Army ousts Morsi
CAIRO (AP) -- Egypt's first democratically elected president was ousted Wednesday by the military after barely a year in office, felled by the same kind of popular revolt that first brought him to power in the Arab Spring. The armed forces announced it would install a temporary civilian government to replace Islamist President Mohammed Morsi, who denounced the action as a "full coup" by the generals. They also suspended the Islamist-drafted constitution and called for new [Read more]
Egypt Political Upheaval to deepen economic crisis
EGYPT POLITICAL UPHEAVAL TO DEEPEN ECONOMIC CRISIS CAIRO (AP) - Egypt's descent into even deeper political turmoil will almost certainly put a multi-billion dollar international bailout on hold and lead to an even more painful economic crisis, with worsening fuel shortages and higher prices on basic goods. After protracted negotiations that have stretched for more than a year, Egypt had been inching closer to securing a critical $4.8 billion International Monetary Fund loan. The [Read more]
CN taps into growing shale demand by servicing new Alberta frac sand terminal
By Ross Marowits, The Canadian Press Canadian National Railway is looking to tap into the growing North American demand for shale gas by launching service this fall to a new frac sand terminal being built in northwestern Alberta. The railway said Wednesday it has signed an agreement with Di-Corp, a distributor of specialty chemicals and equipment to the mining industry, that is building a facility to handle the material used in the hydraulic fracturing process that is growing in [Read more]
CN to serve new 550,000-ton per year frac sand transloading terminal in northwestern Alberta
New Di-Corp terminal will accommodate rapid growth in frac sand demand from oil and gas industry EDMONTON, July 3, 2013 /CNW Telbec/ - CN (TSX: CNR) (NYSE: CNI) announced today it will start serving a new state-of-the art frac sand terminal north of Grande Prairie, Alta., starting in November 2013. The new 20-acre facility being built by Di-Corp of Edmonton will have an annual throughput capacity of 550,000 tons of frac sand and have three tracks capable of holding 44 rail cars for [Read more]
Oil up to near US$102 amid concerns that Egypt crisis may threaten supplies
The price of oil soared to above US$102 a barrel Wednesday for the first time in over a year as Egypt's political crisis intensified, raising the risk of fuel supply disruptions in the Suez Canal.A report showing an unexpectedly large fall in U.S. stockpiles of crude oil also helped boost prices.By early afternoon in Europe, benchmark crude for August delivery was up $1.86 at $101.46 a barrel in electronic trading on the New York Mercantile Exchange, having risen as high as $102.18 [Read more]
NB Premier says general discussion about pipeline at meeting with industry executives
TORONTO - New Brunswick Premier David Alward says a proposed west to east pipeline was discussed, but only in general terms at a meeting with industry and corporate executives Tuesday in Toronto.Alward says the project was part of a broader round-table discussion about the development of a range of energy projects in Canada that was hosted by federal Natural Resources Minister Joe Oliver.He says his province is waiting on a decision by TransCanada Corp. (TSX:TRP) on whether it thinks [Read more]
Keystone XL gets the attention, but U.S. coal export plan raising alarm bells
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]
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