LITTLE BUFFALO, Alta. - The Lubicon Lake First Nation is heading for another showdown with the federal and Alberta governments over treaty rights and resource revenue.The Cree band has filed a lawsuit against the governments in which it seeks a reserve and hundreds of million of dollars in compensation for oil and natural gas extracted from land it claims.The lawsuit filed by aboriginal rights lawyer James O'Reilly on behalf of the Lubicon asks Alberta's Court of Queen's bench to call [Read more]
News
Saudi prince sues Forbes for saying he’s only worth $20B
From Reuters: Saudi billionaire Prince Alwaleed bin Talal has sued Forbes magazine for libel in a British court, alleging its valuation of his wealth at $20.5 billion was short of the mark by $9.8 billion, Britain’s Guardian newspaper reported on Friday. The prince, a grandson of Saudi Arabia’s founder and nephew of King Abdullah, had attacked the U.S. magazine’s ranking of world billionaires as flawed and biased against Middle Eastern businesses after he was ranked number 26 in [Read more]
IEA: Energy emissions rose to record high in 2012
STOCKHOLM — The International Energy Agency says the world’s energy-related carbon dioxide emissions rose 1.4 percent in 2012 to a record high of 31.6 gigatons, even as the U.S. posted its lowest emissions since the mid-1990s. In a report released Monday, the IEA says China saw the largest emissions growth last year, but the increase was among the lowest seen in a decade amid investments in renewable energy and energy efficiency. The IEA says the energy sector accounts for about [Read more]
“Big oil” exiting gas station business, study shows
Annual study also reveals a continued drop in outlets operated by integrated refiner-marketers and a continued decrease in the number of retail fuel sites in Canada. LONDON, ON, June 10, 2013 /CNW/ - According to a recent survey of Canada's retail gasoline facilities by petroleum consultancy MJ Ervin & Associates, Canada's gas stations are increasingly becoming divorced from the crude oil producing and refining sectors that have traditionally maintained a "well-head to gas tank" vertical [Read more]
Palliser Oil & Gas Corporation Provides Operations Update
/NOT FOR DISTRIBUTION IN THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ CALGARY, June 10, 2013 /CNW/ - Palliser Oil & Gas Corporation ("Palliser" or the "Company") (TSX VENTURE:PXL) is pleased to provide an operations update. Production has continued to progress favorably through the second quarter, with May average production of approximately 2,950 boe/d based on field estimates. Second quarter to date production is estimated at approximately 2,800 boe/d, [Read more]
Bonterra Energy Corp. Announces $24 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - June 10, 2013) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA Bonterra Energy Corp. (Bonterra) (www.bonterraenergy.com) (TSX:BNE) announces that it has entered into an agreement with a syndicate of Underwriters pursuant to which the Underwriters have agreed to purchase on a bought deal basis 481,500 common shares at a price of $49.85 per Common Share (the "Issue Price") for aggregate gross [Read more]
Canadian Oil Sands Announces Coker Turnaround
CALGARY, ALBERTA--(Marketwired - June 10, 2013) - Canadian Oil Sands Limited ("COS") (TSX:COS) (OTCQX:COSWF) announced today that Syncrude has commenced a turnaround on Coker 8-1. The turnaround was scheduled to occur in the second half of 2013 but has been advanced due to reduced throughput following an outage on an associated boiler unit, which underwent unplanned maintenance in May as previously disclosed. The turnaround is anticipated to take approximately 50 days. COS [Read more]
Teck and Shell swap oilsands leases, ending dispute between two companies
CALGARY - Teck Resources Ltd. (TSX:TCK.B) and Shell Canada are swapping oilsands leases, ending a dispute over the boundaries of their respective projects. Teck says it will transfer to Shell a piece of land that is sandwiched between two leases the Canadian arm of the Anglo-Dutch energy giant already controls. In exchange, Shell is giving eight of its leases, along with part of another, to Vancouver-based Teck, which has land just to the west. Teck had filed a statement of [Read more]
Man arrested after threats made to oilsands facility in northern Alberta
FORT MCMURRAY, Alta. - A British Columbia man has been charged after threats were made against an oilsands facility in northern Alberta.An investigation began Tuesday north of Fort McMurray after police received a tip on a 911 line, said RCMP Const. Christina Wilkins."We received threats that there were harmful substances," Wilkins said, although she couldn't provide details of what kind of substances were mentioned or the nature of the threats. She said resources from outside [Read more]
Canada adds whopping 95,000 jobs in May as unemployment slides to 7.1 per cent
Source: tradingeconomics.com OTTAWA — Canada's economy finally came out of hibernation last month, pumping out a whopping 95,000 new jobs — the vast majority full-time — in the biggest month of employment growth in more than a decade. The massive gain was the first major improvement of 2013 and many times greater than economists had expected, dropping the unemployment rate one-tenth of a point to 7.1 per cent. The impact on the unemployment rate would had been greater but for [Read more]