Category: Oil
Panel to check Teck’s Frontier Oil Sands potential for “significant adverse effects on the environment.” Review can take 6 years
Peter Kent, Canada’s environment minister on Friday referred Teck Resources’s newly acquired Frontier Oil Sands project in northern Alberta to an independent review panel because of the propose mine’s “potential for significant adverse effects on the environment. “
Sunshine Oilsands gunning for $700 million IPO on Hong Kong exchange
A Canadian oilsands company, Sunshine Oilsands, is turning to the Hong Kong stock exhange in hopes of raising between $500 million and $700 million through an IPO.
Obama, Keystone, and USA-Canadian mining jobs
The news wires are abuzz with the announcement that Obama has caved into his party’s environmental wing and killed the Keystone pipeline that would have carried Canadian oil to the refineries along the Gulf coast.
Obama kills Keystone XL, Canadian oil slides to $30 discount
Caving to pressure from environmental groups, the Obama administration on Wednesday rejected the $7 billion-plus Keystone XL pipeline which would have carried 700,000 barrels of crude oil a day from the Alberta oil sands to refineries along the US Gulf coast. The lack of pipelines like Keystone has meant that Canadian crude sells for much cheaper than global oil – on Wednesday the discount widened to over $30.
Keystone XL decision coming today, U.S. media reports say
The U.S. State Department is set to announce Wednesday whether it will approve TransCanada’s controversial Keystone XL pipeline extension, U.S. media are reporting.
Ausenco moves into the North American oil sands business
Ausenco has acquired 100% of Reaction Consulting, a Canadian-based specialist provider of engineering services in the SAGD bitumen and oil sands sectors. Ausenco CEO Zimi Meka said the acquisition would enhance Ausenco’s energy portfolio expertise and provid…
ConocoPhillips Seeks JV Partner for Oil Sands Proj.
ConocoPhillips is seeking a 50/50 joint-venture partner for its oil-sands projects in Western Canada, according to the investment banking firm marketing the assets.
Pembina shares drop as it agrees to buy Provident for $3.2-billion
Pembina Pipeline Corp. (PPL-T26.35-1.55-5.56%) has agreed to purchase all issued and outstanding shares of Provident Energy Ltd. (PVE-T11.041.5316.09%) in a transaction valued at $3.2-billion in shares.
Meet the Gateway pipeline’s most formidable opponent
CTV reports the business-savvy Haisla First Nation presents a complex challenge to backers of the $5.5 billion Gateway pipeline project that would stretch for 1,170km to Kitimat in northern British Columbia while the Financial Post explains why Kitimat may have already received all the infrastructure investment it could absorb.
Barclays commodities research: bullish on US crude, bearish on nickel
Although Barclays is positive on the prospects for commodity prices in Q1, for now they are still positioning relatively cautiously across sectors.
