NEW YORK - The price of oil fell 1.6 per cent Tuesday to just below $100 a barrel, dented by soft Chinese manufacturing figures and expectations of another increase in U.S. crude stockpiles. Benchmark U.S. crude for May delivery was down $1.61 to $99.97 a barrel in afternoon trading on the New York Mercantile Exchange. Brent crude, used to set prices for international varieties of oil used by many U.S. refineries, was down $1.72 to $106.04 a barrel in London. Data showing weak [Read more]
Christy Clark says B.C. can rival Alberta as energy exporter with LNG to Asia
OTTAWA - Premier Christy Clark is projecting British Columbia will rival energy giant Alberta in terms of "contribution to Canada" once the province starts exporting liquefied natural gas to Asia. Clark is preaching the gospel of natural gas exports in Ottawa with a large delegation that includes energy industry business people and a few First Nations leaders. The B.C. government used the occasion to sign an accord with the federal government on skills training — preparation, says Clark, [Read more]
Oil steady above $101 a barrel as markets eye US-Russia talks, Chinese manufacturing report
The price of oil was little changed above $101 a barrel Monday as markets kept on eye on talks between the U.S. and Russia over the crisis in Ukraine.By early afternoon in Europe, benchmark U.S. crude for May delivery was down 20 cents to $101.47 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the Nymex contract rose 39 cents leaving it 2 per cent higher on the week, propelled by signs of stronger economic growth in the U.S. and global supply concerns.Brent crude, [Read more]
Northern Gateway pros and cons being debated on doorsteps in Kitimat, B.C.
KITIMAT, B.C. - A battle over the proposed Enbridge Northern Gateway Pipeline has reached the doorsteps of residents in Kitimat, B.C. A plebiscite to gauge community support for the $6-billion dollar project will be held in the Central Coast municipality on April 12, following two days of advance voting, April 2 and 9. Supporters and opponents are working hard to get their message out, with both sides using multi-media campaigns, in addition to door-to-door canvassing. Enbridge [Read more]
Oil up to $102 a barrel on Nigeria supply woes, growing demand with US recovery
The price of oil rose above US$102 a barrel Friday amid signs of stronger economic growth in the U.S. and possible disruptions to Nigerian crude exports.By mid-afternoon in Europe, benchmark U.S. crude for May delivery was up 84 cents to $102.12 a barrel in electronic trading on the New York Mercantile Exchange. The Nymex contract gained $1.02 to $101.28 on Thursday.Concerns are growing in energy markets about supply from Nigeria, which produces about 2.5 million barrels of oil daily, after [Read more]
Crude above $101 a barrel on higher than expected US GDP; supply worries
The price of oil advanced past US$101 a barrel Thursday following an upward revision to U.S. growth figures and ongoing concerns about tight supplies.Benchmark West Texas Intermediate crude for May delivery rose $1.02 to close at US$101.28 on the New York Mercantile Exchange. That is the highest closing price in three weeks. On Wednesday, oil jumped $1.07 to close at US$100.26.Brent crude, a contract for international varieties of oil, gained 80 cents to US$107.83 on the ICE Futures exchange in [Read more]
Getting oil, gas to markets vital: Baird
OTTAWA - Foreign Affairs Minister John Baird says the crisis in Ukraine makes getting Canada's oil and gas to international markets that much more important. And he says that highlights the need to quickly complete a pipeline to transport energy products to the Atlantic from the west. European countries that depend on Russia for energy are scrambling to find new sources the wake of the crisis in Ukraine. But German Chancellor Angela Merkel points out that, while Germany is interested in [Read more]
GoldenKey delays application to drill wells in Alberta city until policy set
LETHBRIDGE, Alta. - An oil company says it is putting off its application to the Alberta Energy regulator to drill three exploratory wells in a southern Alberta city.GoldenKey Oil says it is waiting for the Alberta government to release its new policy on urban drilling before it applies for approval to drill the wells in west Lethbridge.The company has applied for an extension on its mineral rights lease, which expired on Monday.Lethbridge West MLA Greg Weadick was recently named to the [Read more]
Environmental agency seeks public comments on proposed LNG plant in B.C.
VANCOUVER - A multi billion-dollar liquefied natural gas project proposed for B.C.'s north coast is inching its way through the environmental approval process.Federal regulators say the 30-day public comment period for the Pacific NorthWest LNG project will begin April 2.The Canadian Environmental Assessment Agency says it's now looking for feedback on the project's environmental impacts and the company's plans to deal with them.An environmental impact statement published on the agency's website [Read more]
Suncor loses another round in push to test oilsands workers for alcohol, drugs
FORT MCMURRAY, Alta. - Oilsands giant Suncor Energy has lost another battle in its attempt to randomly test thousands of union workers in northern Alberta for drugs and alcohol.A court-ordered arbitration panel has sided with the union Unifor that represents 3,600 workers in the Fort McMurray area and which had filed a grievance against the policy.The majority of panel members ruled there is no evidence that there is an out-of-control drinking or drug culture at Suncor (TSX:SU).The panel said [Read more]
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