VANCOUVER - The British Columbia government officially declared its opposition to the Northern Gateway pipeline on Friday, telling the federal review panel weighing the project that the multibillion-dollar project should not go ahead as proposed.In a strongly-worded submission to the federal review panel following more than a year of hearings, lawyers for the westernmost province said there remain too many unanswered questions."(Northern Gateway) has presented little evidence about how it will [Read more]
News
YIKES! Unemployment across euro countries rises to record 12.2 per cent in April
LONDON (AP) – The unemployment rate across the 17 European countries that use the euro hit a record 12.2 per cent in April, and the number of unemployed is on track to reach 20 million by year’s end. The worsening jobs crisis points to the recession that has gripped the euro alliance. Many countries are struggling to stimulate growth while grappling with a debt crisis that’s led governments to slash spending and raise taxes. Unemployment in the eurozone rose in April from the previous [Read more]
Redford to visit New Brunswick next week to discuss west-east pipeline
FREDERICTON - Alberta Premier Alison Redford will meet her New Brunswick counterpart next week as the two try to drum up support for the west-east pipeline project. Redford will meet David Alward next Friday to discuss the proposed development, which would ship oilsands crude from Alberta to the East Coast if it goes ahead. She will also tour the Irving Oil refinery in Saint John, the largest refinery in Canada, and speak to the city's board of trade. Her trip comes after [Read more]
BMO Provincial Business Report: Low Taxes and Natural Resources Fuel Optimism Among Alberta Business Owners
CALGARY, ALBERTA--(Marketwired - May 31, 2013) - Business owners in Alberta, despite having a mixed outlook on the Canadian economy, are upbeat about their province's prospects for growth. The findings are part of a BMO poll of Alberta business owners, conducted by Pollara, to determine what local entrepreneurs see as the competitive advantage of doing business in their province. It revealed: 19 per cent cite the strength of the local economy as the main advantage to doing business in [Read more]
OPEC oil ministers keep crude output target at 30 million barrels a day
VIENNA (AP) - OPEC oil ministers reached quick agreement Friday on keeping output targets steady but deferred solutions on how to deal with surging U.S. shale oil production and internal rivalries denting the organization's image of unity. The 12-nation oil cartel's decision on keeping the status quo on production of 30 million barrels a day was expected. The price for internationally traded benchmark oil is over $100 barrels a day, level most OPEC countries are happy with. That's not the [Read more]
Iran says sanctions not affecting oil production
VIENNA — Iran’s oil minister shrugged off the effects of sanctions on its oil industry on Friday, claiming that a drop in crude exports was being made up for by international sales of gasoline and other refined products. Oil Minister Rostam Ghasemi spoke Friday ahead of an OPEC meeting held amid new challenges threatening both the organization’s unity and its traditional role as the world heavyweight in determining prices and supplies. The meeting is formally focused on how much [Read more]
Diaz Announces Q1 2013 Financial Results
CALGARY, ALBERTA--(Marketwired - May 31, 2013) - Diaz Resources Ltd. (TSX VENTURE:DZR) ("Diaz" or the "Company") announces that it has filed its interim Financial Statements and MD&A for the three months ended March 31, 2013 on SEDAR. During the quarter, Diaz's production increased to 382 BOEd from 302 BOEd in Q4 2012 due to the Company's shut-in shallow natural gas wells being placed back on production. The Company did not participate in drilling any new wells during the quarter due to a [Read more]
Tuscany Announces Q1 2013 Results
CALGARY, ALBERTA--(Marketwired - May 31, 2013) - Tuscany Energy Ltd. (TSX VENTURE:TUS) ("Tuscany" or the "Company") announces that it has filed on SEDAR its Interim Financial Statements and MD&A for the three months ended March 31, 2013. During the first quarter of 2013, low heavy oil prices resulted in Tuscany: restricting drilling related capital expenditures focusing on increasing water handling capacity at its existing oil pools maintaining production by adding high capacity [Read more]
Wall says energy growth crucial for Canada and Saskatchewan
REGINA - Saskatchewan Premier Brad Wall put on his sales cap at his annual premier`s dinner, giving a rousing speech to more than 2,000 supporters. Wall says Saskatchewan needs to be ready to move its energy to the east and west coasts, as well as the rest of the world. Wall used the address to promote economic growth for the province and his vision of Canada as an energy super-power. Wall says the point is not to gain money or prominence, it`s about helping people. He says [Read more]
OPEC to meet amid Iran-Saudi tensions
VIENNA - Once the symbol of oil dominance, OPEC faces new challenges as its members gather for a ministerial meeting this week on how much crude to pump.For the 12 oil ministers from countries ranging from Venezuela to Nigeria and Iran, the formal focus of Friday's get-together is to determine production levels. The consensus in the markets is that ministers will opt to maintain the status quo as prices for U.S. benchmark oil have traded in a narrow range a few dollars above $90 a [Read more]