Oil prices tumbled more than 2.5 percent on Monday in volatile trade, as dollar strength and weak domestic demand data in China hammered prices that had received a short-lived boost on concerns about potential reductions in crude supply from Libya. Global benchmark Brent crude futures LCOc1 settled down $1.37 or 2.63 percent at $50.73. U.S. West Texas Intermediate crude futures CLc1 settled down $1.23, or 2.52 percent at $47.59 a barrel. "It is a strong dollar, concern about China demand, [Read more]
Gibson Energy’s biggest shareholder calls for strategic review
M&G Investment Management Ltd, the largest shareholder in Canada's Gibson Energy , on Monday urged the Calgary-based oil and gas infrastructure company to launch a strategic review process to cut costs and boost returns. London-based M&G, which owns 19.4 percent of Gibson's outstanding shares, released an open letter laying out its views of the company and the steps it could take to maximize value, including being sold. Gibson Energy, which provides storage and transportation [Read more]
Oil markets steady as strong demand is met by ample supplies
Oil prices were steady early on Monday, supported by strong demand and falling inventories, but still under pressure from high output. Brent crude futures, the international benchmark for oil prices, were at $52.08 per barrel at 0048 GMT, down 2 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $48.85 a barrel, up 3 cents. ANZ bank said prices were being supported by a report from the International Energy Agency (IEA) that crude oil stockpiles were now [Read more]
Hedge funds gamble for a third time on oil rebalancing
LONDON, Aug 14 (Reuters) - "If at first you don't succeed, try, try, try again," goes the proverb used to encourage students. Hedge fund managers are becoming bullish towards crude oil and refined fuels for the third time this year and must be hoping the signs of market rebalancing are real this time after early setbacks proved costly. Hedge funds and other money managers raised their net long position in the three major futures and options contracts linked to Brent and West Texas Intermediate [Read more]
Butte Energy Inc. Announces Results of Its Annual General and Special Meeting of Shareholders and Changes to Management
For best results when printing this announcement, please click on link below:CALGARY, Alberta, Aug. 11, 2017 (GLOBE NEWSWIRE) -- Butte Energy Inc. ("Butte"or the "Company") is pleased to announce the results of its Annual General andSpecial Meeting of shareholders held on August 1, 2017 in Calgary (the"Meeting"). At the Meeting, shareholders holding 77.42% of the issued andoutstanding common shares were present or represented by proxy and suchshareholders voted 100% [Read more]
Oil prices flat as oversupply concerns linger
Oil prices were little changed in early Asian trading on Friday after retreating in the previous session, weighed by ongoing global glut concerns despite a bigger-than-expected draw in U.S. crude inventories. U.S. West Texas Intermediate (WTI) crude was up 3 cents, or 0.1 percent, at $48.62 a barrel. Brent crude, the global benchmark, was up 1 cent at $51.91 per barrel by 0044 GMT. Oil prices touched a two-and-half month high on Thursday, but retreated to close down around 1.5 percent, [Read more]
Keystone XL opponents vow long fight as Nebraska hearing concludes
Opponents of the Keystone XL pipeline vowed on Thursday to block construction of the controversial project if Nebraska regulators approve the proposed route later this year. The state's regulators wrapped up a final public hearing a day early on Thursday on TransCanada Corp's proposed Keystone XL pipeline after four days of contentious exchanges between lawyers. Nebraska's Public Service Commission will make its final decision by Nov. 23. After the hearing, two dozen landowners [Read more]
KeystoneXL opponents vow long fight as Nebraska hearing concludes
Opponents of the Keystone XL pipeline vowed on Thursday to block construction of the controversial project if Nebraska regulators approve the proposed route later this year. Nebraska regulators wrapped up a final public hearing a day early on Thursday on TransCanada Corp's proposed Keystone XL pipeline after four days of contentious exchanges between lawyers. They will make their final decision by Nov. 23. After the hearing, two dozen landowners and other pipeline opponents vowed [Read more]
British Columbia says will bar Trans Mountain work until consultations done
The government of Canada's British Columbia will not allow Kinder Morgan Canada Ltd to begin work on public land for its Trans Mountain pipeline expansion until it "meaningfully" consults aboriginal communities, the province's environment minister said on Thursday. Minister George Heyman said also that the government will seek intervener status in court cases against federal approval of the project. (Reporting by Ethan Lou; Editing by Phil Berlowitz) [Read more]
Canada groups continue legal challenge against permit for Petronas’ scrapped LNG project
Canadian environmental and aboriginal groups said they will push ahead with a lawsuit seeking to scrap an environmental permit granted to Malaysia's Petronas for a liquefied natural gas (LNG) facility in British Columbia, despite the oil and gas firm's announcement last month that it was scrapping the project. A representative for the groups filing suit against the Canadian government told Reuters they wanted the permit granted by the Canadian Environmental Assessment Agency overturned [Read more]
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