Latest Industry News
Maine and Nova Scotia Partner on Ocean Energy
7/29/2010 - Northern Maine and Nova Scotia share coastline along the Bay of Fundy, a piece of ocean with the strongest tides in the world. In order to harness the powerful forces of those tides, the leaders of Maine and Nova Scotia have formed a partnership to develop ocean energy technologies in the area. Both Maine's Governor John Baldacci and Nova Scotia's Premier Darrell Dexter have been very supporti... [Read More]
7/29/2010 - Northern Maine and Nova Scotia share coastline along the Bay of Fundy, a piece of ocean with the strongest tides in the world. In order to harness the powerful forces of those tides, the leaders of Maine and Nova Scotia have formed a partnership to develop ocean energy technologies in the area. Both Maine's Governor John Baldacci and Nova Scotia's Premier Darrell Dexter have been very supporti... [Read More]
Irving to take over ship repair site for $1
7/29/2010 - Irving Shipbuilding is poised to purchase the Shelburne Ship Repair yard from the province for $1. The company is in the process of completing a transaction with Nova Scotia Business Inc. to purchase the site after 13 years of leasing. It also will be purchasing a water lot in front of the shipyard site for fair market value. “The company is undertaking significant investments in improving th... [Read More]
7/29/2010 - Irving Shipbuilding is poised to purchase the Shelburne Ship Repair yard from the province for $1. The company is in the process of completing a transaction with Nova Scotia Business Inc. to purchase the site after 13 years of leasing. It also will be purchasing a water lot in front of the shipyard site for fair market value. “The company is undertaking significant investments in improving th... [Read More]
ConocoPhillips to Sell Entire LUKOIL Stake
7/29/2010 - ConocoPhillips and LUKOIL have reached an agreement under which approximately 64.6 million Russian registered shares will be purchased by LUKOIL for $3.44 billion. These shares represent a 7.6 percent interest in LUKOIL, or 40 percent of ConocoPhillips' 163.3 million shares currently owned. This transaction is expected to close in the third quarter of 2010. The remaining 60 percent owned by Con... [Read More]
7/29/2010 - ConocoPhillips and LUKOIL have reached an agreement under which approximately 64.6 million Russian registered shares will be purchased by LUKOIL for $3.44 billion. These shares represent a 7.6 percent interest in LUKOIL, or 40 percent of ConocoPhillips' 163.3 million shares currently owned. This transaction is expected to close in the third quarter of 2010. The remaining 60 percent owned by Con... [Read More]
Suncor Energy reports 2010 second quarter results- strategy on track
7/29/2010 - CALGARY, ALBERTA--(Marketwire - July 29, 2010) - Suncor Energy Inc. today reported second quarter 2010 net earnings of $480 million ($0.31 per common share), compared to a net loss of $51 million ($0.06 per common share) for the second quarter of 2009. Operating earnings in the second quarter of 2010 were $781 million ($0.50 per common share), compared to $38 million ($0.04 per common share) in... [Read More]
7/29/2010 - CALGARY, ALBERTA--(Marketwire - July 29, 2010) - Suncor Energy Inc. today reported second quarter 2010 net earnings of $480 million ($0.31 per common share), compared to a net loss of $51 million ($0.06 per common share) for the second quarter of 2009. Operating earnings in the second quarter of 2010 were $781 million ($0.50 per common share), compared to $38 million ($0.04 per common share) in... [Read More]
Cenovus posts $172-million profit
7/29/2010 - Cenovus Energy Inc. (CVE-T28.56-1.41-4.70%), the integrated oil company spun off last year by Encana Corp. (ECA-T31.44-0.06-0.19%), says it had a $172-million profit in the second quarter. That's equivalent to 23 cents per share of net income, while revenue increased to $3.3-billion. A year earlier, prior to becoming an independent company, Cenovus had $160-million or 21 cents per share of pr... [Read More]
7/29/2010 - Cenovus Energy Inc. (CVE-T28.56-1.41-4.70%), the integrated oil company spun off last year by Encana Corp. (ECA-T31.44-0.06-0.19%), says it had a $172-million profit in the second quarter. That's equivalent to 23 cents per share of net income, while revenue increased to $3.3-billion. A year earlier, prior to becoming an independent company, Cenovus had $160-million or 21 cents per share of pr... [Read More]
ConocoPhilips lets licences lapse
7/28/2010 - ConocoPhilips let four exploration licences it held in the deepwater Laurentian Basin off NL's south coast lapse last month, the St. John's Telegram reports. ConocoPhilips could have extended them for three more years, but chose not to commit to the cost of keeping them open. The estimated cost of continuing the licences was not disclosed.
The company did drill their first exploration... [Read More]
7/28/2010 - ConocoPhilips let four exploration licences it held in the deepwater Laurentian Basin off NL's south coast lapse last month, the St. John's Telegram reports. ConocoPhilips could have extended them for three more years, but chose not to commit to the cost of keeping them open. The estimated cost of continuing the licences was not disclosed.
The company did drill their first exploration... [Read More]
BP's total claims payments top $256 Million
7/28/2010 - BP to pay an estimated $60 million in advance payments in August New Orleans (July 28) -- BP said today it estimates it will pay at least $60 million in advance payments in August to claimants across the Gulf Coast who have lost income or net profit due to the oil spill in the Gulf of Mexico. BP, which has paid $256 million to date for claims including $30 million in the last seven days, wi... [Read More]
7/28/2010 - BP to pay an estimated $60 million in advance payments in August New Orleans (July 28) -- BP said today it estimates it will pay at least $60 million in advance payments in August to claimants across the Gulf Coast who have lost income or net profit due to the oil spill in the Gulf of Mexico. BP, which has paid $256 million to date for claims including $30 million in the last seven days, wi... [Read More]
Husky Energy Announces a Heightened Focus on Production Growth in Reporting its Second Quarter 2010 Results
7/28/2010 - Calgary, Alberta - In announcing its second quarter results, Husky Energy Inc. (TSX:HSE) demonstrated progress in advancing its strategic objectives with first oil from North Amethyst offshore Eastern Canada while signaling a heightened focus on addressing near-term production growth. Since taking over as CEO of Husky Energy on June 1, 2010, Asim Ghosh has commenced a comprehensive review of t... [Read More]
7/28/2010 - Calgary, Alberta - In announcing its second quarter results, Husky Energy Inc. (TSX:HSE) demonstrated progress in advancing its strategic objectives with first oil from North Amethyst offshore Eastern Canada while signaling a heightened focus on addressing near-term production growth. Since taking over as CEO of Husky Energy on June 1, 2010, Asim Ghosh has commenced a comprehensive review of t... [Read More]
Residents of Kings County, NS back large-scale wind farms
7/28/2010 - KENTVILLE, NS] — Large-scale wind farms could be on the horizon in Kings County if county council follows through with policy plans now under consideration. The county allows small-scale wind turbines, up to 75 feet in height generating up to 100 kilowatts. Such turbines can provide electrical capacity for a few local homes or a business, such as a farm. Large-scale wind turbines, utility-scal... [Read More]
7/28/2010 - KENTVILLE, NS] — Large-scale wind farms could be on the horizon in Kings County if county council follows through with policy plans now under consideration. The county allows small-scale wind turbines, up to 75 feet in height generating up to 100 kilowatts. Such turbines can provide electrical capacity for a few local homes or a business, such as a farm. Large-scale wind turbines, utility-scal... [Read More]
Schlumberger-Smith merger gets green light
7/28/2010 - Schlumberger and Smith jointly announced that the European Commission has cleared the proposed merger under the EC Merger Regulation without any conditions. The closing of the proposed merger remains subject to clearance by the U.S. Department of Justice, approval by Smith stockholders, and the satisfaction or waiver of other closing conditions contained in the merger agreement between the com... [Read More]
7/28/2010 - Schlumberger and Smith jointly announced that the European Commission has cleared the proposed merger under the EC Merger Regulation without any conditions. The closing of the proposed merger remains subject to clearance by the U.S. Department of Justice, approval by Smith stockholders, and the satisfaction or waiver of other closing conditions contained in the merger agreement between the com... [Read More]
