MONTREAL - The Quebec government is going ahead with plans to exploit the oil resources of Anticosti Island, estimated at 46 million barrels. Premier Pauline Marois announced deals with the firms Petrolia, Corridor Resources, Junex, and Maurel & Prom to carry out two exploration programs in two phases. The government will invest a total of $115 million in the projects. The news comes as speculation swirls around a possible provincial election in which opposition parties have said [Read more]
Recent cold not swaying Encana gas outlook
CALGARY - Encana Corp. says a recent run-up in natural gas prices — driven by a prolonged stretch of frigid weather throughout North America — has been great for business, but it's not enough to sway its mid-term outlook for that commodity. "It's good news if you're a company with a lot of gas production. We're having a very cold winter, which is pulling a lot of demand and has obviously created very strong pricing here recently," CEO Doug Suttles told analysts on a conference call Thursday, [Read more]
Cenovus hikes dividend
CALGARY - Oilsands producer Cenovus Energy Inc. says its dividend is going up 10 per cent, starting with the next payment in March. The increased payout to Cenovus shareholders was announced along with the company's improved fourth-quarter results. The Calgary-based company reported $212 million of operating earnings, equal to 28 cents per share. That compared with a year-earlier operating loss of $188 million or 25 cents per share. Cenovus says its quarterly dividend will rise to [Read more]
U.S. rail group: Let’s go farther on safety
WASHINGTON - It's only been a few weeks since Canadian policy-makers announced safety changes to rail cars, but elements within the industry already want to go further. An industry association in the U.S. is recommending all new oil-carrying train cars be equipped with a thicker, puncture-proof metal shell, taller shields on each end and thermal insulation. The request comes in a letter today to the U.S. transportation secretary from the Railway Supply Institute, the main group [Read more]
Rio Tinto sells land options to LNG Canada
LONDON - Mining giant Rio Tinto has entered into an option agreement with joint venture company LNG Canada to lease or sell a wharf and land at the Kitimat, B.C., port where LNG plans to build a natural gas liquefaction plant and export terminal. Financial details were not disclosed. LNG Canada is a joint venture comprised by Shell Canada Energy, China's Phoenix Energy Holdings Ltd., Korean affiliate Kogas Canada LNG Ltd. and Diamond LNG Canada Ltd., an affiliate of Mitsubishi Corp. Rio [Read more]
Husky selling Atlantic crude to India
CALGARY - Husky Energy Inc. (TSX:HSE) has tapped into a new booming energy market, selling one million barrels of crude from its White Rose field offshore in Newfoundland and Labrador to Indian Oil Corp. during the fourth quarter.Chief operating officer Rob Peabody told a conference call with analysts and reporters that it was India's first purchase of Canadian crude.He says the light oil from White Rose has been approved for use in Indian refineries.CEO Asim Ghosh added that the sale opens up a [Read more]
Time to look past Obama, Prentice says
OTTAWA - A former top Conservative cabinet minister says it's time for Canada to look beyond the Obama era if it wants to push economic integration with the United States to a new level. Jim Prentice says that includes pushing for approval of the Keystone XL pipeline, which has been stalled by the logjam of U.S. domestic politics — something he says probably won't change in the next three years. Prentice says new gas discoveries in both countries have transformed North America's economic [Read more]
US Oil in first close above US$100 this year
NEW YORK - Oil prices rose slightly Monday, enough to close above US$100 a barrel for the first time this year.Investors are awaiting the first public comments from the new chairman of the U.S. Federal Reserve. Janet Yellen, who last week was confirmed in her role. She is scheduled to appear before the U.S. Congress on Tuesday and traders will be particularly interested to hear anything she says about the withdrawal of the Fed's monetary stimulus.The central bank has reined in its stimulus [Read more]
Parade of energy firms to report this week
CALGARY - This week will see a parade of quarterly earnings from some big energy names, including two Calgary-based companies that are in the thick of strategic overhauls. Encana Corp. (TSX:ECA) and Talisman Energy Inc. (TSX:TLM) are both in the process of shrinking. Instead of throwing money at an array of different projects, the two are concentrating on the most lucrative regions and prioritizing profitability over production growth. Talisman will post its results for the full year and [Read more]
Longview gets takeover offer
CALGARY - Longview Oil Corp. is reviewing an unsolicited, non-binding takeover offer from an unidentified public company. Longview provided few details except that the prospective bidder would pay for the deal with its own shares. The company says it has set up a special committee to review the proposal and also adopted a shareholder rights plan. The rights plan is a defensive move to provide Longview's board with time to evaluate the offer and alternatives. The overture comes at a [Read more]
- « Previous Page
- 1
- …
- 494
- 495
- 496
- 497
- 498
- …
- 538
- Next Page »