Media are invited to Shell Canada's kickoff to Aboriginal Awareness Week (June 13-17) where Lorraine Mitchelmore, Shell Canada President and Country Chair and the Honourable Len Webber, Minister of Aboriginal Relations, will be making an announcement.
Oil Sands Mining News
The oil sands, the world’s largest energy project, will face severe or even catastrophic water shortages due to declining glaciers and snowpack in the Rocky Mountains, warn Canadian water researchers.
Ron Leven of Morgan Stanley has recently delivered a presentation under the auspice of ETF Securities Ltd. in which he outlined his expectations for the major currencies.
China showed robust demand for crude oil and coal in May, shrugging off higher prices to boost imports by more than 20 percent, but its appetite for overseas copper supplies remained sickly and iron ore buying showed signs of ending a strong run.
Bloomberg reports that in New York, Oil traded near the highest this month. The market news is quoted as saying: Futures were little changed, with the biggest weekly gain in four weeks, after the U.S. Commerce Department said record exports in April helped the trade gap shrink 6.7 percent to $43.7 billion, the lowest since December. A separate report showed jobless claims unexpectedly rose.
MetaPower International receives purchase orders totaling $1,777,320 for management services with a major oil sands energy company
MetaPower International, Inc. (OTCPK: MTPR) is pleased to announce that the Company's subsidiary, MetaPower Canada, Ltd, has received additional purchase orders totaling $1,777,320 CD from a Canadian Energy Company's facility in the Oil Sands Region of Northern Alberta, Canada. The orders are for 1) Continued work on development, calculation and reporting of key performance indicators, 2) On-going work on the Process Safety Management project, 3) Work on the Business Process Management initiative.
Short seller Jim Chanos is well known for his negative assessments of China, especially Chinese real estate. One of his more colorful expressions about China's economy is "the Chinese are on a treadmill to Hell." […]
Alberta's land use plan for the lower Athabasca River region favours oilsands development over conservation, say First Nations leaders.
Legal threats and scientific doubts are undermining the hoped-for peace that a provincial land-use proposal would have brought to Alberta’s oilsands region.
No action by OPEC today reverses Crude and from here we should see higher pricing. July futures settled back over the 9 day MA and we should be on way to the 40 day MA […]
Exxon Mobil (NYSE:XOM) is the world’s largest independent oil and gas exploration and production company. The gargantuan size of the company comprises of a mix of its own extensive operations spread across the world, along with its equity investments in various global affiliates.
Canadian oilsands firm Sunshine Oilsands Ltd aims to raise $1bn in an initial public offering in Hong Kong, Ming Pao daily reported on Tuesday, citing market sources. The company, which owns 1.14 million acres of oil sands reserves in Athabasca in Canada, earlier this year received funding from Chinese investors to the tune of $236m. Toronto-listed oil producer Husky Energy, controlled by Hong Kong billionaire Li Ka-shing, said last month that it was exploring a potential secondary listing of its shares on the Hong Kong bourse.
Oil sands mining are not typically associated with Africa and the continent's two mega-projects, one in the Congo Basin and another on the island of Madagascar, are running into trouble. The $3bn deal between the Republic of Congo and Eni, Italy's state-owned oil major, runs out this year amid criticism about its lack of transparency and environmental impact. In Madagascar, the partner of France's Total, Madagascar Oil declared a force majeur after the Malagasy government apparently threatened to seize one of the London-listed company's oil fields.
H2O Innovation, a complete water treatment solutions company providing custom designed high performance systems for the municipal, industrial, and natural resources markets, announces today that it has been awarded a major $9.4 million contract by Fort Hills Energy for the Fort Hills Oil Sands Project operated by Suncor Energy Operations. This contract will see H2O Innovation design, build, install, and commission a water treatment package that will provide potable water for the workers of Fort Hills Project currently in development 90 kilometers north of Fort McMurray, Alberta.
After days of discussions with an oil and gas industry association, Environment Canada has confirmed a substantial rise in greenhouse gas pollution from the oilsands sector in 2009, along with data that casts doubts on […]
One way or another — by rail or ship or a network of pipelines — Canada will export oil from its vast northern oil sands projects to the United States and other markets.
The magic number for real interest rates is 2 percent. That's when you can earn more than 2 percent on a U.S. Treasury bill after discounting for inflation. Our research has shown that commodities tend to perform well when rates fall below 2 percent.
I suspect that the recent party-trick by the non-expert Chimp who predicted in December 2010 that the 10-Year Treasury (then 3.5%) would head down towards 3% by April 2011, may demonstrate that there might be […]
Alberta's oilsands could deliver $67.5 billion a year into provincial government coffers by 2044, says a new report from the Canadian Energy Research Institute released Monday
Will the US oilpatch get flooded with Canadian juniors looking to build and sell production to the new Canadian energy income trusts? Trusts are now allowed in Canada again – but with foreign assets.
The Toronto Sun reports employees from Shell Canada's Muskeg River and Jackpine mines near Fort MacKay were evacuated late Thursday night as wildfires continue to rage in that part of Alberta, Canada. Despite cooler weather and scattered showers on Friday 290 forest firefighters from Alberta, B.C. and the Northwest Territories are still fighting out of control blazes in the Richardson area 60 km north of Fort McMurray where 354,000 hectares have burned. Imperial Oil and Shell Canada say they're working with the government and other oil sands operators to monitor the fire and smoke conditions in the area and Syncrude Canada says all of its staff at its operations in that part of the province are still continuing to work.
Laricina Energy announced on Wednesday it intends to raise between $250m and $400m by selling common shares at $40 to $45 each in a private placement. Laricina was started by executives of Deer Creek Energy after it was sold to French oil giant Total in 2005 for $1.67bn. Canada Pension Plan acquired 17% of the privately-held oil sands developer for $250m last year. This round of fund raising is expected to push back a possible public listing of Laricina to 2012.
Daily Oil Bulletin reports Canada's total proved oil and liquids reserves continued to climb in 2010, rising to just under 22bn barrels, up 6.6% from year end 2009. About 77% of the booked reserves came from Alberta's oil sands. The news comes as Canada’s oil sands are coming under increased scrutiny: the Vancouver Sun reported on Monday that the federal government deliberately excluded data indicating a 20% increase in annual pollution from the oil sands industry in a report to the UN. Last week during Congressional hearings it was revealed that the oils sands are poised to become the number one source of crude for the US.
The federal government has acknowledged that it deliberately excluded data indicating a 20% increase in annual pollution from Canada’s oilsands industry in 2009 from a recent 567-page report on climate change that it was required to submit to the United Nations.
An editorial in last Wednessday's National Post ("Ottawa isn't the oil sands' enemy") left readers with an inaccurate portrayal of the Alberta government's role in the oil sands.