MONTREAL - Members of Quebec's business community breathed a collective sigh of relief Monday, hopeful that a majority Liberal government will herald an era of stability marked by new investments, jobs and real estate activity in the province."I think the business community will be pleased," said Yves-Thomas Dorval, president of the Quebec Employers Council."There was a question mark in the air and now a majority government will certainly provide a better, stable and foreseeable [Read more]
Oil slips under US$101 a barrrel amid hopes for increase in Libyan supplies
Crude oil fell below US$101 a barrel Monday following reports that four Libyan oil terminals under militia control could soon reopen and possibly boost global supplies.Benchmark West Texas Intermediate crude for May delivery slipped 70 cents to US$100.44 a barrel on the New York Mercantile Exchange. The price has hovered around US$100 a barrel for most of the past month.Brent crude, used to set prices for international varieties of oil, dropped 90 cents to US$105.82 a barrel on the ICE Futures [Read more]
Oil prices rise after US jobs report, but end slightly lower for the week
Oil prices rose slightly Friday after a monthly U.S. jobs report showed stronger hiring in the U.S. in recent months. Benchmark U.S. crude for May delivery rose 85 cents to close at $101.14 a barrel in New York. For the week, the contract fell 53 cents. The price has vacillated around $100 per barrel for most of the past month. Brent crude, used to set prices for international varieties of oil used by many U.S. refiners, rose 57 cents to close at $106.62 a barrel in London. The U.S. [Read more]
Missouri lawmakers target Obama with pro-Keystone resolution
JEFFERSON CITY, Mo. (AP) — Missouri lawmakers have passed a resolution encouraging President Barack Obama’s administration to approve a proposed oil pipeline route through the middle of the United States. The Senate approved the measure endorsing the Keystone XL pipeline with a 24-5 vote on Thursday. The same resolution passed the House earlier this year. Obama told a group of governors at a White House meeting in February that he expects to make a decision on the project’s future in a [Read more]
Justin Trudeau visits oil country, slams Tories, slams Harper, slams Canada’s environmental record
FORT MCMURRAY, Alta. - The leader of the federal Liberals says Canada is losing the credibility needed to secure approval for projects such as the Keystone XL pipeline because of its environmental record. Justin Trudeau says the idea that a government would have to choose between what's good for the economy and what's good for the environment is "an old way of thinking that no longer applies in the 21st century." He also slammed the Harper government for ignoring the environmental concerns [Read more]
Oil rises above $100 a barrel on anticipation of improved US jobs report; natural gas jumps
The price of oil rose as traders anticipated positive news in the monthly U.S. jobs report.Benchmark U.S. crude for May delivery gained 67 cents Thursday to close at $100.29 a barrel on the New York Mercantile Exchange. Brent crude, used to set prices for international varieties of oil, rose $1.36 to $106.15 a barrel on the ICE exchange in London.The Labor Department releases its March employment report Friday. Economists project that employers added 191,000 workers last month, according to a [Read more]
Anadarko to pay US government $5.15 BILLION to settle pollution case
WASHINGTON (AP) -- The federal government on Thursday reached a $5.15 billion settlement with Anadarko Petroleum Corp., the largest ever for environmental contamination, to settle claims related to the cleanup of thousands of sites tainted with hazardous chemicals for decades. The bulk of the money - $4.4 billion - will pay for environmental cleanup and be used to settle claims stemming from the legacy contamination. The settlement resolves a legal battle over Tronox Inc., a spinoff of [Read more]
Energy board approves 400 interveners in Trans Mountain pipeline review
VANCOUVER - The National Energy Board hearings into Kinder Morgan's proposed pipeline expansion through Alberta and British Columbia will begin in August and hear from more than a thousand people, groups and communities.But only 400 of the more than 2,118 applicants who applied to be interveners in the hearings will be allowed to participate.Those groups given approval will be allowed to question experts and company officials and present evidence at the hearings.They include: dozens of First [Read more]
Oil falls slightly even with report of unexpected supply drop
The price of oil fell slightly Wednesday, despite a report of an unexpected decline in the nation's supplies. Benchmark U.S. crude for May delivery slipped 12 cents to close at $99.62 a barrel on the New York Mercantile Exchange. Brent crude, used to set prices for international varieties of oil, dropped 83 cents to $104.79 a barrel on the ICE Futures exchange in London as traders considered the possible reopening of export terminals in Libya. The U.S. Energy Department said Wednesday [Read more]
Imperial: Kearl crude a hot commodity for refiners, including one in Malaysia
CALGARY - Imperial Oil Ltd. says 22 refineries — including one in Malaysia — have processed crude from its Kearl oilsands mine, which uses a proprietary technology to remove the "heaviest, gooiest" parts of the bitumen before it's put in a pipeline. Also Wednesday, the company said the mine in northern Alberta produced about 70,000 barrels of crude per day during the first quarter of this year — still a ways from its design capacity of 110,000 barrels. Imperial had initially planned to run [Read more]
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