As Canadian oil falls to $50 less than the international benchmark, crude calculations show oil sands producers are losing out on $100 million dollars a day because they cannot sell into global markets.
Reuters reports that sovereign wealth fund China Investment Corp (CIC) and state oil company Sinopec are among three cornerstone investors that will pledge $350 million towards Sunshine Oilsands Ltd’s Hong Kong IPO.
Sunshine Oilsands Ltd, a Canadian oil explorer backed by Chinese state-owned enterprises, has delayed the launch of a planned up to $700 million initial public offering in Hong Kong that was expected to be the biggest new listing in Asia this year, The Wall Street Journal said on Saturday.
Statistics Canada reported Friday that of the jobs created in January 65% were in Alberta.
Sunshine Oilsands, a Calgary-based oil explorer backed by Chinese state-owned enterprises, has delayed the launch of a planned up to $700 million initial public offering in Hong Kong which would have been the biggest in Asia this year.
Imperial Oil is spending $2 billion to expand its Cold Lake insitu oilsands operation in northeastern Alberta.
Oilsands Quest Inc. (NYSE Amex: BQI) (“Oilsands Quest,” or “the Company”) has secured a commitment for debtor-in-possession (“DIP”) financing of CDN$3.75 million (the “DIP Facility”), for the purposes of funding operating costs and other expenses while the Company proceeds with its previously-announced solicitation process while under creditor protection.
The government of Canada and the province of Alberta will outline its program for monitoring the environmental impact of the oil sands industry, an Alberta environment ministry spokeswoman said.
Alberta-to-Texas oil pipeline expansion has raised questions about how massive anticipated output growth in production from Canada’s oil sands will find enough markets.
Suncor Energy Inc. recorded fourth quarter 2011 net earnings of $1.427 billion ($0.91 per common share), compared to net earnings of $1.286 billion ($0.82 per common share) for the fourth quarter of 2010.
Rummaging through old papers this weekend, I came across a short hand-written piece that I penned in 1982.
This February MINING.com celebrated its first anniversary. We want to thank all our readers for making this such a fun ride. With over ½ million page views each month and 125,000 daily email digest subscribers, MINING.com has become one of the top destinations for news and opinion about mining.
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