The price of oil fell below US$103 per barrel Friday on ample supplies of crude and fuels.Benchmark West Texas Intermediate crude for July delivery fell 87 cents to close at US$102.71 a barrel on the New York Mercantile Exchange. The contract closed down 1.6 per cent for the week, though it finished the month up nearly three per cent.Brent crude, a benchmark for international oil used by many U.S. refineries, fell 56 cents to close at US$109.41 a barrel in London.The price of crude was pulled [Read more]
Desmond Tutu heads to Fort McMurray
FORT MCMURRAY, Alta. - South African Anglican Archbishop Desmond Tutu is expected to open a two-day conference on aboriginal treaties and the oilsands today by answering questions from reporters and taking an aerial tour of the massive industrial development. He is scheduled to appear with industry, aboriginal and political leaders in Fort McMurray. Tutu is to deliver the keynote address on Saturday. Tutu, who won the Nobel Peace Prize for his role in the fight against apartheid, has [Read more]
Oil rises above US$103 a barrel after fall in supplies at key trading hub
The price of oil rose above US$103 barrel Thursday on a drop in supplies at the main U.S. oil trading hub and signs of growing gasoline demand in the United States. Benchmark West Texas Intermediate crude for July delivery rose 86 cents to close at US$103.58 a barrel on the New York Mercantile Exchange. On Wednesday, the Nymex contract dropped $1.39 to close at US$102.72. Brent crude, a benchmark for international oil used by many U.S. refineries, rose 16 cents to close at US$109.97 a [Read more]
Escalating costs causing Total E&P Canada to shelve Joslyn oilsands project
CALGARY - Total E&P Canada is putting its Joslyn oilsands project northwest of Fort McMurray, Alta., on hold indefinitely, saying Thursday that the economics aren't good enough to move ahead. The decision means 150 jobs will be cut by the end of this year, but CEO Andre Goffart said some of those workers may be moved to other parts of the French energy giant's global operations. On a conference call with reporters, Goffart said the challenges Joslyn is facing aren't confined to that [Read more]
PrairieSky surges in TSX debut
CALGARY - Encana Corp. spinoff PrairieSky Royalty Ltd. (TSX:PSK) is making quite a debut on the Toronto Stock Exchange.PrairieSky shares are trading about 30 per cent higher than their initial public offering price of $28 per share, surging above $36 on the TSX.As part of a sweeping new strategy unveiled last fall, Calgary-based energy producer Encana (TSX:ECA) decided to separate a big chunk of its Alberta royalty lands into a new publicly traded company.As of the IPO's closing on Thursday, [Read more]
Crude oil falls below $103 a barrel on expectation of increase in US supply
The price of oil fell below US$103 barrel Wednesday as traders expected the Energy Department to report an increase in U.S. supplies.Benchmark West Texas Intermediate crude for July delivery dropped $1.39 to close at US$102.72 a barrel on the New York Mercantile Exchange.Brent crude, a benchmark for international oils, fell 21 cents to US$109.81 on the ICE exchange in London.Traders were waiting for the latest information on U.S. supplies of crude and refined products.Data for the week ended May [Read more]
Kinder Morgan bombarded with 10,000-plus questions on Trans Mountain expansion
VANCOUVER - Kinder Morgan is asking for more time to respond to over 10,000 questions submitted to the National Energy Board about the proposed expansion of its Trans Mountain pipeline.The company has until June 4 to respond to information requests from 117 of the 398 groups and individuals granted intervener status by the board for the application.The company says it cannot meet that deadline with such a large number of requests, and it has asked for a delay until June 27.Kinder Morgan's Scott [Read more]
Exxon CEO predicts alternative energy will grow but oil to remain top fuel through 2040
DALLAS - The CEO of Exxon Mobil Corp. says alternative fuels will grow but that oil will remain the world's leading source of energy for another quarter century. CEO Rex Tillerson says natural gas will surpass coal as the second most heavily used fuel. Tillerson made the comments Wednesday at the company's annual shareholder meeting. About 15 people protested outside the meeting hall, charging that Exxon was not doing enough to reduce climate change and develop alternative sources of [Read more]
Nova Scotia energy minister saysoffshore safety rules are fine for now
HALIFAX - Nova Scotia's energy minister says he's satisfied with federal legislation aimed at improving safety in the offshore energy sector even though it doesn't call for an independent safety agency, a measure he pushed for while in Opposition.Andrew Younger says while he'd prefer to see an independent body, Ottawa's proposal to have an independent safety officer within the Canada-Nova Scotia Offshore Petroleum Board is good enough — for now.In 2011, while in Opposition, Younger said a [Read more]
Ottawa to open office in B.C. to woo B.C. First Nations on energy projects
PRINCE RUPERT, B.C. - The federal government will set up a major projects management office in British Columbia to try to woo West Coast First Nations on the myriad of energy projects proposed in the province. Natural Resources Minister Greg Rickford says Ottawa will also establish a forum with the B.C. government and First Nations to work toward aboriginal participation in energy developments. The two measures were recommended in a report last fall by Douglas Eyford (EYE'-ford), appointed [Read more]
- « Previous Page
- 1
- …
- 415
- 416
- 417
- 418
- 419
- …
- 487
- Next Page »