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TORONTO - WHAT HAPPENED: Petro-Canada and its partners Teck Cominco Ltd. and UTS Energy Corp. became the latest companies to postpone expansion of an oil sands project by delaying a decision on further investment in a $19.5 billion oil sands project in northern Alberta. They also shelved plans to building an upgrade refinery.
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Showing posts with label oil. Show all posts
Showing posts with label oil. Show all posts
Monday, November 17, 2008
State refuses to let Exxon build ice road
The state has rejected a request by Exxon Mobil Corp. to build an ice road in a North Slope natural gas field whose lease ownership is in dispute.
The state has tried to strip Exxon and partners of leases held by Exxon since 1977, saying the area known as Point Thomson was never developed.
"Despite the fact that the leases expired in August 2008, (Exxon Mobil) applied for permission to construct an ice road to transport a drilling rig onto the expired lease to drill for oil and gas," the Alaska Department of Natural Resources said in a statement released Friday.
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The state has tried to strip Exxon and partners of leases held by Exxon since 1977, saying the area known as Point Thomson was never developed.
"Despite the fact that the leases expired in August 2008, (Exxon Mobil) applied for permission to construct an ice road to transport a drilling rig onto the expired lease to drill for oil and gas," the Alaska Department of Natural Resources said in a statement released Friday.
Full Story
State refuses to let Exxon build ice road
The state has rejected a request by Exxon Mobil Corp. to build an ice road in a North Slope natural gas field whose lease ownership is in dispute.
The state has tried to strip Exxon and partners of leases held by Exxon since 1977, saying the area known as Point Thomson was never developed.
"Despite the fact that the leases expired in August 2008, (Exxon Mobil) applied for permission to construct an ice road to transport a drilling rig onto the expired lease to drill for oil and gas," the Alaska Department of Natural Resources said in a statement released Friday.
The state has tried to strip Exxon and partners of leases held by Exxon since 1977, saying the area known as Point Thomson was never developed.
"Despite the fact that the leases expired in August 2008, (Exxon Mobil) applied for permission to construct an ice road to transport a drilling rig onto the expired lease to drill for oil and gas," the Alaska Department of Natural Resources said in a statement released Friday.
Tuesday, January 15, 2008
Gold Dips as Volatility Widens; Oil Rallies & Tokyo Stocks Hit 26-Month Low
Spot Gold Prices fell $6 from an overnight rally to $911 per ounce just before the London open on Tuesday, continuing the wide volatility seen late Monday as Asian stocks fell and the US Dollar held at 7-week lows vs. the Euro and Japanese Yen.
Japan's Nikkei fell 1 percent, finishing below 14,000 for the first time since November 2005 after Bank of Japan chief Toshihiko Fukui said Japan's economic growth will "slow for some time."
The US Dollar held near to Monday's seven-week lows vs. both the Japanese Yen and the Euro ahead of on Tuesday on concern that weak U.S. bank earnings will push the economy closer to recession, fuelling expectations for more Federal Reserve interest rate cuts.
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Japan's Nikkei fell 1 percent, finishing below 14,000 for the first time since November 2005 after Bank of Japan chief Toshihiko Fukui said Japan's economic growth will "slow for some time."
The US Dollar held near to Monday's seven-week lows vs. both the Japanese Yen and the Euro ahead of on Tuesday on concern that weak U.S. bank earnings will push the economy closer to recession, fuelling expectations for more Federal Reserve interest rate cuts.
Full Story
Wednesday, November 7, 2007
Gold Hits New Highs
Commodities prices resumed their upward trek Tuesday, with gold and oil prices surging as investors sought shelter from the dollar's persistent decline.
An ounce of gold added $12.60 to settle at $823.40 on the New York Mercantile Exchange, rising to its highest level since January 1980. Silver futures rose to an eight-month high, putting on 59.5 cents to $15.38 an ounce at the close.
Rising energy and metals prices also supported precious metals, which are traditionally seen as a hedge against inflation.
"The combination is quite powerful for gold right now, considering that the dollar is again weak," said HSBC precious metals analyst Jim Steel.
Silver, copper, and zinc are also winners.
Read more here
An ounce of gold added $12.60 to settle at $823.40 on the New York Mercantile Exchange, rising to its highest level since January 1980. Silver futures rose to an eight-month high, putting on 59.5 cents to $15.38 an ounce at the close.
Rising energy and metals prices also supported precious metals, which are traditionally seen as a hedge against inflation.
"The combination is quite powerful for gold right now, considering that the dollar is again weak," said HSBC precious metals analyst Jim Steel.
Silver, copper, and zinc are also winners.
Read more here
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