A growing number of aboriginals from around the Arctic are calling for a moratorium on energy development in the North. Groups from every Arctic country have signed a statement that calls for an end to offshore drilling and a pause in northern energy projects unless local aboriginals consent. The statement was released in Kiruna, Sweden, two days before leaders from the eight circumpolar nations meet and hand over chairmanship of the Arctic Council to Canada. The statement [Read more]
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Strategic Oil & Gas Ltd. Announces Board Changes, New Chairman of the Board
CALGARY, ALBERTA--(Marketwired - May 13, 2013) - Strategic Oil & Gas Ltd. (the "Company" or "Strategic") (TSX VENTURE:SOG) is pleased to announce that the following changes were made to its board of directors as a result of last week's annual meeting. Thomas Claugus was named Chairman of the board. He is the President and majority shareholder of GMT Capital Corp. which he founded in 1990. He currently sits on the board of several other companies including Paramount Resources Corp. Thomas [Read more]
N.W.T. industry minister touts ‘MADE IN THE NORTH’ oil pipeline alternative
By Lauren Krugel, The Canadian Press CALGARY - The Northwest Territories is promoting the idea of a "made-in-the-North" oil pipeline as a means to get Canadian crude to international markets, bypassing jurisdictions that have been less than keen on such developments. "Certainly the Northwest Territories is in a good location when it comes to the possible routing of the pipeline north," David Ramsay, the territory's industry minister, said in a recent interview. Ramsay [Read more]
TSX, U.S. markets fall amid moderate retail data from China and U.S
By Linda Nguyen, The Canadian Press TORONTO - The Toronto stock market fell sharply Monday as prices for commodities, particularly gold, drove down the index amid data that showed slightly smaller-than-expected increases in China's industrial production and retail sales. The S&P/TSX composite index dropped 69.13 points to 12,519.96. The Canadian dollar was up 0.14 of a cent to 99.03 cents US. The U.S. commerce department reported that retail sales edged up 0.1 per cent in April, [Read more]
Oil price falls to near $95 a barrel as rising dollar puts pressure on commodities like crude
By Pablo Gorondi, The Associated Press The price of oil fell to near $95 a barrel on Monday, reflecting the recent strengthening of the US dollar against the yen and other major currencies. By early afternoon in Europe, benchmark oil for June delivery was down 71 cents to $95.33 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 35 cents on Friday. The stronger US dollar is causing oil prices to fall, analysts said. The dollar has risen in recent days [Read more]
Plans to increase US exports of liquefied natural gas stir debate on environment
WASHINGTON - A domestic natural gas boom already has lowered U.S. energy prices while stoking fears of environmental disaster. Now U.S. producers are poised to ship vast quantities of gas overseas as energy companies seek permits for proposed export projects that could set off a renewed frenzy of the much-debated kind of drilling known as fracking. Expanded drilling is unlocking enormous reserves of crude oil and natural gas, offering the potential of moving the country closer to [Read more]
Better oil price needed for emissions controls to work: environment minister
OTTAWA — The ability of the oil and gas sector to absorb tough government controls on their greenhouse gas emissions depends on Canada getting a better price for its oil, Environment Minister Peter Kent says. The extra revenue would allow companies to invest heavily in leading-edge technology that would curtail pollution, he said in an interview from London. “What we have to do, one way or another, is get rid of the U.S. discount,” Kent said. “That would certainly provide great [Read more]
NRC teams with private companies to fund Carbon + Algae = Biofuels
CALGARY – The federal government and two private companies are planning to build a $19-million plant that will use algae to convert greenhouse gas emissions from an oilsands site into useful products such as biofuels. The National Research Council says its will contribute $9.5 million toward the joint project with energy giant Canadian Natural Resources Ltd. (TSX:CNQ) and Pond Biofuels. The plant will be built at Canadian Natural’s Primrose South oilsands site near Bonnyville, [Read more]
Oliver on the defensive as he ends oilsands promotion tour through Europe
OTTAWA - Joe Oliver's public-relations tour through Europe is ending as it began — with the natural resource minister on the defensive not just about Canada's oilsands but also about his own reaction to criticism. Oliver is flying back today from the U.K., after a whirlwind trip through Israel, Brussels, Paris and London to promote Canada's approach to oil and gas production. But even as he pleads with Europe to accept bitumen from the oilsands, he also lashes out at critics for [Read more]
RMP Energy Announces Strategic Ante Creek Land Expansion
CALGARY, ALBERTA--(Marketwired - May 10, 2013) - RMP Energy Inc. ("RMP" or the "Company") (RMP.TO) is pleased to announce that the Company acquired from Paramount Resources Ltd. a total of 22.75 gross sections (16.0 net) of land in the Montney light oil fairway in the Ante Creek area of West Central Alberta, in exchange for 3.4 million common shares of RMP. The working interests in the purchased acreage range between 50% to 100%. The acquired lands are located contiguous and proximal to the [Read more]