Gemini Corporation revealed its financial results for the fiscal year ended December 31, 2008. The revenue growth realized was attributable to the heavy oil industry projects executed by the Field Services segment prior to activity levels declining significantly in the fourth quarter. Carl Johnson, Gemini’s President and CEO stated: The booming economic conditions we were [...]
Despite a slump in activity in Alberta’s oil sands, operators this month have taken early regulatory steps toward several future projects. For full story, click here
Oil sands junior UTS Energy Corp. publicly rejected an unsolicited bid by Total E&P Canada, Friday labeling the French energy giant’s offer as inadequate against a crucial new oil sands discovery and improved financial environment. William Roach, UTS president and chief executive, stated: The proposed Suncor/Petro-Canada merger will mean the commitment of a new, more [...]
Freedom Financial Holdings Inc. reported that the Company has added an additional 76 acre lease in Southeastern Kansas. CEO Brian Kistler stated: The one missing ingredient is KC-9000, the company’s proprietary Heavy Oil technology. This additional lease is more acreage just like the 160 acres previously announced. For full story, click here
One Exploration Inc. declared its financial and operating results for the quarter and year of operations ended December 31, 2008 that includes summarisation of heavy oil output results. For full story, click here
The Alberta government has already reported that it will spend $2 billion to develop a carbon capture system for the oilsands. Natural Resources Minister Lisa Raitt, stated: I don’t think it’s possible to overstate the importance of this technology. For full story, click here
Nippon Oil Corp. agreed to its biggest customers that the company will cut the prices of January-March deliveries of fuel oil by slightly more than 40 per cent from the previous quarter. For full story, click here
Energy Quest, Inc., an upcoming leader in alternative energy, declared that its wholly owned subsidiary, WaveChem, Inc. has signed an agreement with Northern Alberta Oil Ltd, a wholly owned subsidiary of Deep Well Oil and Gas, Inc. to construct a 5,000 barrels per day heavy crude oil upgrader. For full story, click here
China National Offshore Oil Corp. (CNOOC), China’s biggest offshore oil and gas producer, will put into operation the first phase of a refining project in Guangdong, south China, on March 20. For full story, click here
Suncor Energy Inc.’s $19.1 billion bid for Petro-Canada unveiled yesterday has the hallmarks of a smart deal, in stark contrast to the spate of over-priced takeouts of Canadian industrial icons Alcan Inc., Inco Ltd. and Falconbridge Inc. at the height of the commodities bubble. For full story, click here
Tuesday, March 31, 2009