ST. JOHN'S, N.L. - The Canada-Newfoundland and Labrador Offshore Petroleum Board says two drilling rigs off Newfoundland's coast have disconnected their wells due to approaching icebergs. The board's Twitter account said Sunday the Henry Goodrich and West Aquarius safely disconnected from their wells as a precaution. Spokesman Sean Kelly says the move is required under the ice management plans of the operators. The Canada-Newfoundland and Labrador Offshore Petroleum Board regulates the [Read more]
Energy Dept. welcomes firm’s pledge to reveal fracking chemicals, but Halliburton won’t commit
PITTSBURGH - The U.S. Department of Energy said Friday that it welcomes the decision by oil and gas industry supplier Baker Hughes to disclose all chemicals in hydraulic fracturing fluid. But Halliburton, a major competitor in the field, isn't committing to such disclosure.Deputy Assistant Energy Secretary Paula Gant said that Baker Hughes' move "is an important step in building public confidence" and the department "hopes others will follow their lead."The oil and gas industry has said the [Read more]
Crude oil price eases after rising to near $102 a barrel on Ukraine uncertainty
LONDON - The price of oil declined below US$101 per barrel after disappointing earnings in the U.S. on Friday, having earlier risen on worries about the tensions in Ukraine.Benchmark U.S. crude for June delivery shed $1.07 to $100.87 on the New York Mercantile Exchange. Brent crude, an international benchmark for oil, gave up 27 cents to $110.06 on the ICE Futures exchange in London a day after gaining $1.22.Ukraine is going through its biggest political crisis since the fall of the Soviet [Read more]
Crude oil rises to near US$102 a barrel on Ukraine uncertainty
The price of oil rose to near US$102 a barrel Thursday on worries about tensions in Ukraine. Benchmark West Texas Intermediate crude for June delivery rose 50 cents to close at US$101.94 a barrel on the New York Mercantile Exchange. Brent crude, an international benchmark, gained $1.22 to US$110.33 a barrel on the ICE Futures exchange in London. Ukraine is going through its biggest political crisis since the fall of the Soviet Union. Ukrainian forces launched an operation Thursday to drive [Read more]
WATCH: Self-described ‘Cowboys and Indians’ march against Keystone XL in Washington
Ranchers, farmers and aboriginal groups are protesting the Keystone XL pipeline together in Washington this week. The Obama administration has delayed a decision on the Alberta-Texas pipeline, possibly until next year. Watch the video courtesy Canadian Press: [Read more]
Delays haven’t soured Imperial on Keystone XL pipeline, but other options open
CALGARY - One of Canada's largest oilsands producers isn't soured on the proposed Keystone XL pipeline, despite news that the US$5.4-billion project has been delayed yet again."We think it's as important today as it was the day it was proposed. We think it's good for parties north of the border and parties south of the border," Imperial Oil Ltd. (TSX:IMO) CEO Rich Kruger said following the company's annual general meeting on Thursday.Last week, the U.S. State Department said it needed more time [Read more]
Fort Nelson mayor calls LNG summit expulsion ‘exploitation,’ apologizes
FORT NELSON, B.C. - Tempers are flaring in northern British Columbia over liquefied natural gas.Last week, the Fort Nelson First Nation expelled provincial government officials from its LNG summit over the province's decision to change environment assessment rules for gas plants.Now the municipal government of the Northern Rockies, which includes the city of Fort Nelson, says the decision to eject the officials was a "knee-jerk" reaction.In an open letter, Mayor Bill Streeper calls the expulsion [Read more]
Crescent Point to buy CanEra Energy in deal worth $1.1 billion, including debt
CALGARY - Crescent Point Energy Corp. (TSX:CPG) has signed an agreement to buy CanEra Energy Corp., a privately held oil and gas producer in southeast Saskatchewan, in a deal valued at $1.1 billion, including debt.CanEra's assets include a large land position in the Torquay area in Saskatchewan, where Crescent Point is active, and production of approximately 10,000 barrels of oil equivalent per day.Crescent Point president and chief executive Scott Saxberg said the deal complement's his [Read more]
Chinese-owned Nexen Energy says it’s replacing CEO Kevin Reinhart
CALGARY - Nexen Energy, the Calgary-based oil and gas company acquired last year by Chinese state-owned firm CNOOC Ltd., is replacing Kevin Reinhart as CEO.CNOOC made the decision because it wanted to bring in someone with "operational and technical depth," said spokeswoman Diane Kossman.Reinhart ushered Nexen through its contentious sale to CNOOC last year for $15.1 billion. He previously served as the company's chief financial officer.Prior to the takeover, announced in mid-2012, investors had [Read more]
Oil slips to US$102 a barrel as reports shows big increase in US supplies
NEW YORK - The price of oil slipped Wednesday as a government report showed U.S. oil supplies rose more than expected last week.Benchmark West Texas Intermediate crude for May delivery fell 31 cents to close at US$101.44 a barrel on the New York Mercantile Exchange. On Tuesday, the Nymex contract fell $1.90 a barrel.Brent crude, an international benchmark, fell 16 cents to US$109.11 on the ICE Futures exchange in London.The U.S. Energy Department's Energy Information Administration said oil [Read more]
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