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Conference Board of Canada : Oil Extraction Industry Profits Increased to Reach $8 Billion
Higher prices and production will drive revenues to outpace costs, pushing pre-tax profits in Canada’s oil extraction industry to $8 billion this year, the Conference Board of Canada said Thursday.
But while this is a 66-per-cent increase from 2009 levels, the board noted in its latest industrial outlook that this level is well below the industry’s [...]
Mining and Energy Companies Investment Delay by Global Financial Crisis
The deepening of the global financial crisis and the sharp drop in energy prices have forced companies to scale back spending and delay projects, with expensive ventures in the Canadian oil sands hardest hit.
Inmet Mining profit falls on prices and costs
Inmet Mining said on Tuesday its third-quarter profit fell a larger-than-expected 35 percent due to weaker copper and zinc prices and higher costs, sending the company’s shares lower.
The Canadian metals producer also cut its full-year production outlook, and said the operating license for its Cerattepe development project in Turkey had been suspended.
Canada Mining and Industry Trends, Issues and Challenges Facts & Figures 2008
The Mining Association of Canada is the national organization for the Canadian mining industry. Its members account for most of Canada’s production of base and precious metals, uranium, diamonds, metallurgical coal, mined oil sands and industrial minerals and are actively engaged in mineral exploration, mining, smelting, refining and semi-fabrication.
Facts & Figures 2008 provides details on [...]
Cameco Corp. and Japan’s Mitsubishi Corp Sign Agreement Acquire Mine Exploration Project in Western Australia
Canada’s Cameco Corp and Japan’s Mitsubishi Corp said on Thursday they will jointly acquire Kintyre uranium exploration project in Western Australia from Rio Tinto Ltd for $495 million.
Cameco will take a 70 percent interest in the project for $346.5 million while the Japanese trading house will acquire the remaining stake through its Sydney-based [...]
Canadian Association of Petroleum Producers (CAPP) Oil & Gas Investment Symposium
Canadian Superior Energy Inc. announced today that it will be presenting today and tomorrow at the CAPP Oil & Gas Investment Symposium 2008 being held this week in Calgary.
Canadian Superior’s President and COO, Mike Coolen, will provide an update on the Company’s activities and outline the Company’s forward strategy and plans for continued growth, which [...]
Ryland Oil Corp. Mining Company Snapped Up Licences in the Bakken area
Ryland Oil Corp. is a little-known company that trades on Canada’s junior stock market. It has a market cap of about $386-million. A month ago? Less than $250-million.
It made further waves Friday, announcing that it snapped up oil and gas licences covering 45,980 acres of land in the Bakken area of southeastern Saskatchewan. Put [...]
Encana Firm Split For Expand Exploration Oil and Gas
EnCana Corp , Canada’s biggest energy company, said on Sunday it plans to split itself into separate oil and natural gas companies in efforts to lift its value with crude prices at record highs.
EnCana, a $65 billion company formed in a merger six years ago, said the new oil-focused firm will operate its Alberta oil [...]
Result Energy Inc. Result Exploration Mining Review 2007 and Exploration Plan 2008
Result Energy Inc. is pleased to provide a year end 2007 summary and an update on 2008/09 exploration plans:
2007 Review
Result’s average daily production increased for the 6th consecutive year to 1,119 boed from 823 boed in 2006, a 36% year over year increase. Production is currently 90% weighted to natural gas and following the April [...]
