TORONTO - Royal Dutch Shell is selling its stake in Canadian Natural Resources Ltd. for about $4.3 billion. The sale of more than 97 million shares represents Shell's entire interest in Canadian Natural, a roughly eight per cent stake in the company. Shell said in a statement Monday night that proceeds from the sale will contribute to reducing net debt. The sale is expected to complete on Wednesday. Shell shares closed at $45.30 on the Toronto Stock Exchange on Monday. The company [Read more]
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Live Now- Canada’s 1st Virtual Oil and Gas Expo In Partnership With Shell
Attend For Free! Our show is now live click here to attend for free We are so pleased to welcome you all to the SOLD-OUT Industry Connect! We have a full two days planned for you, and the best part is you can experience everything on your own schedule, completely from your computer, laptop, or phone! WHO’S HERE? Industry Connect is pleased to welcome 100 exhibiting companies, dozens of webinar hosts, and more than 2,000 pre-registered attendees representing the Oil & Gas [Read more]
Petrus Resources Announces First Quarter 2018 Financial & Operating Results
CALGARY, Alberta, May 07, 2018 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX:PRQ) is pleased to report financial and operating results for the first quarter of 2018. Petrus is focused on organic growth and infrastructure control in its core area, Ferrier, Alberta. The Company is targeting light oil and liquids rich natural gas in the Cardium formation as well as investing in infrastructure in Ferrier to control operations in order to maximize the Company's return on [Read more]
Shell Sells Its Interest In Canadian Natural Resources Limited
Royal Dutch Shell plc ("Shell") announces an agreement to sell its entire stake in Canadian Natural Resources Limited ("Canadian Natural") THE HAGUE, Netherlands, May 7, 2018 /CNW/ -- Shell's subsidiary, Shell Gas B.V. ("SGBV"), has entered into an underwriting agreement with Goldman Sachs & Co, RBC Capital Markets, Scotiabank and TD Securities, for the sale of 97,560,975 shares in Canadian Natural, representing its entire interest in Canadian Natural resulting in total pre-tax proceeds [Read more]
Kenney returns to Ottawa as wing man in Tories’ fight against carbon tax
OTTAWA - Jason Kenney, leader of Alberta's United Conservative Party, returned to Parliament Hill on Monday where he sparred with federal lawmakers over the Trudeau government's carbon pricing policy, which he's vowed to fight if he's elected premier next year. The former Harper cabinet minister testified before a parliamentary committee on the Liberals' controversial plan to ensure all provinces impose a carbon tax as a way to cut pollution. Kenney's appearance also provided support for [Read more]
ConocoPhillips moves to take key Venezuelan oil operations
CARACAS, Venezuela - U.S. oil giant ConocoPhillips is pressing for control of Venezuela's key offshore operations in the Caribbean, seeking to recoup $2 billion from a decade-old dispute with the nation struggling to feed its people, a source confirmed Monday. The Houston-based ConocoPhillips is asking a court in the Dutch Antilles for control of facilities that Venezuela's state-run oil firm PDVSA operates, a person familiar with the claim confirmed to The Associated Press. The person was [Read more]
Pieridae Energy announces term sheet for LNG Sale and Purchase Agreement with European Utility
CALGARY, Alberta, May 07, 2018 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (TSXV:PEA) is pleased to announce it has entered into a term sheet to negotiate a binding liquefied natural gas (LNG) sale and purchase agreement (“SPA”) to supply Canadian-sourced liquefied natural gas to Europe from the Second Train of the Goldboro liquefaction facility in Nova Scotia. Under the term sheet with Pieridae, the offtaker will purchase up to 1 million tonnes per annum of LNG. This contract is scheduled to [Read more]
Report shows oilsands emissions over cap by 2030 unless GHG intensity falls
CALGARY - Canada's oilsands production could grow to the point that its emissions exceed the Alberta government's cap of 100 million tonnes per year by 2030, according to a forecast from the Canadian Energy Research Institute released Monday. On-site emissions from oilsands producers would grow from about 72 million tonnes in 2017 to 103 million tonnes in 2030 under a reference case scenario based on current company plans and technologies, it said. But Dinara Millington, vice-president of [Read more]
Taxpayers federation seeks standing in pipeline, carbon tax legal battles
VANCOUVER - An advocacy group that argues for the interests of taxpayers will be asking the courts to allow it take part in separate legal cases in British Columbia and Saskatchewan in a dispute over federal and provincial jurisdiction. The Canadian Taxpayers Federation says it will request permission for intervener status in order to fight against the federal carbon tax in Saskatchewan and in favour of getting pipelines built through B.C. A reference question filed in the B.C. Appeal [Read more]
Inter Pipeline Announces Strong First Quarter 2018 Financial and Operating Results
CALGARY, May 7, 2018 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") (TSX: IPL) announced strong financial and operating results for the three month period ended March 31, 2018. First Quarter Highlights Funds from operations (FFO) totalled $254 million, a three percent increase over first quarter 2017 Net income for the quarter was a record $143 million Declared cash dividends of $160 million, or $0.42 per share Attractive quarterly payout ratio* of 63 percent NGL processing [Read more]