CALGARY - A Vancouver company is pitching a $10-billion oilsands refinery on British Columbia's north coast that aims to connect Alberta's vast energy resources with Asian markets, while avoiding some of the pitfalls others have encountered.Pacific Future Energy Corp. says the refinery would be the "world's greenest" and built in full partnership with B.C. First Nations, many of whom are vehemently opposed to proposals to ship crude to the West Coast for export.Any day now, Ottawa is expected to [Read more]
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Newfoundland government, Statoil to spend $3.9 million on Arctic oil research
ST. JOHN'S, N.L. - Statoil Canada and the province of Newfoundland and Labrador will spend $3.9 million on research into oil and gas operations in Arctic and harsh environments. Statoil will spend $2.4 million on the three new projects while Crown corporation Research and Development Corp. will spend $1.5 million. One project led by Kvaerner Canada Ltd. involves Arctic subsea oil and gas separation and storage technology. Rutter Inc. will help develop a system to automatically detect [Read more]
Pacific Future Energy Corp. Announces $10-Billion Bitumen Refinery Project for B.C. North Coast
Company will build the world's greenest refinery, a near zero net carbon (NZNC) emission refinery for exporting processed Northern Alberta oil VANCOUVER, June 10, 2014 /CNW/ - Pacific Future Energy Corporation (Pacific Future Energy) announced today its plan to build and operate the world's greenest refinery on British Columbia's north coast. While we believe it's in Canada's national strategic interest to gain access to international markets for Alberta's oil, especially the fast growing [Read more]
Waldron Energy Corporation Announces Sale of Gross Overriding Royalty for Total Proceeds of Seven Million Dollars
CALGARY, ALBERTA--(Marketwired - June 10, 2014) - Waldron Energy Corporation (TSX:WDN) ("Waldron" or the "Corporation") is pleased to announce that it has entered into a purchase and sale agreement ("Agreement" or "Transaction") with Maple Leaf 2013 Oil & Gas Income Limited Partnership for total proceeds of $7 million to sell a 3% gross overriding royalty ("GORR") on its existing land base. The Agreement is subject to customary closing conditions and consents and is expected to close within [Read more]
Oil rises to near $105 on expectations for stronger demand
Oil rose to near US$105 a barrel Tuesday on expectations for rising demand as the global economy strengthens.Benchmark U.S. oil for July delivery was up 37 cents to $104.78 a barrel at 3:50 a.m. ET in electronic trading on the New York Mercantile Exchange. It soared $1.75 to close at $104.41 on Monday and is now at its highest since early April.Recent economic indicators that suggest stronger global growth include Japan raising its January-March GDP number, a fourth month of solid hiring in the [Read more]
Questerre Spuds Second 100% Well in Kakwa
CALGARY, ALBERTA--(Marketwired - June 10, 2014) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) is pleased to report that it has recently spud its second 100% working interest well in the Kakwa-Resthaven area of west-central Alberta. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "This is an important well for us as it is the first well on our 100% seven-section block in Kakwa North. We have licensed additional locations and [Read more]
Oil hits 3-month high on strong China exports, Japan economic growth
Oil prices rose Monday as positive news on exports from China and economic growth in Japan followed last week's solid jobs report in the United States.Benchmark West Texas Intermediate crude for July delivery gained $1.75 to close at US$104.41 a barrel on the New York Mercantile Exchange. That's the highest closing price since March 3.Brent crude, a benchmark for international oils, rose $1.29 to US$109.15 a barrel in London.China reported Sunday that exports rose seven per cent in dollar terms [Read more]
IMF leader urges countries like Canada to set a price on carbon emissions
MONTREAL - The head of the International Monetary Fund says energy powerhouses like Canada need to be proactive when it comes to protecting the environment and not simply wait for a deal to be reached on replacing the Kyoto Protocol.Christine Lagarde told an international economic conference in Montreal that whether it's a carbon tax or a cap and trade system, a mechanism is need to reflect the cost of emissions that will encourage less consumption.Lagarde applauded Canada's efforts to unleash [Read more]
Natural Resources minister back in B.C. as clock ticks down on pipeline decision
VANCOUVER - With the clock ticking down for his government's decision on Northern Gateway, Natural Resources Minister Greg Rickford says there have been significant strides forward around pipeline and marine traffic safety in talks between Ottawa and First Nations.But Rickford says all agree there remain issues "around a specific project" or "specific aspects of energy transportation."With a June 17 deadline for a final decision on the pipeline, Rickford gave no hint of when or what that [Read more]
$48 TRILLION required by 2035 to meet global energy demand
Middle East will have to take the investment lead if the challenge is to be met RIYADH, Saudi Arabia/ Troy Media/ - To quench the still growing global thirst for crude will require a major increase in investments in the energy sector, according to the Paris based International Energy Agency (IEA), the OECD energy watchdog. An in its recently released Energy Investment Outlook, IEA emphasized that the Middle East will have to take the investment lead if the challenge of meeting future [Read more]