Canada foresees record drilling
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CALGARY, ALBERTA - The number of oil and gas wells to be drilled in Canada next year could climb 8 percent to a record because of a surge in coal-bed methane activity, the oil-field service industry predicted last week.
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CALGARY - Shell Canada Ltd. and its partners will undertake a massive $4-billion expansion at its oilsands project in Alberta&#39;s northeast, despite cost overruns of billions of dollars on the initial construction
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OPEC will increase oil production by 500,000 barrels a day to meet an expected surge in winter consumption.
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VICTORIA (CP) - Prime Minister Paul Martin's cabinet will review the controversial moratorium preventing offshore oil and gas exploration off British Columbia's north coast, a delegation of B.C. cabinet ministers was told Monday.
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Petro-Canada, the country&#39;s third- biggest oil company, said production at its Terra Nova offshore oilfield near Newfoundland will remain shut until it completes an investigation into a spill of about 1,000 barrels of oil.
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Canada&#39;s government has set the price for the sale of its remaining 19 percent in oil company Petro-Canada, raising C$3.18 billion ($2.
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The announcement of a successful five-mile-deep (eight-kilometer-deep) oil well in the Gulf of Mexico might herald a new age of deepwater drilling, experts say.
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Mining: British mining giant Rio Tinto will spend at least $200 million and perhaps as much as $2 billion - on drilling for a copper ore body in Superior.
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The Canadian government began the sale of its 19 percent stake in Petro-Canada on Thursday in what will most likely be the largest share sale in Canadian history.
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If approved, the deal would be Canadaâs largest takeover and among the largest leveraged buyouts in history.
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By JONATHAN MONTPETIT  MONTREAL (CP) - Quebec motorists could pay more at the pump next year as they get squeezed between the provincial government's fight against climate change and the oil industry's attempts to protect the bottom line.
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The Organization of Petroleum Exporting Countries, source of more than a third of the world&#39;s oil, may raise its output target by as much as 3.8 percent in a bid to lower near-record prices.
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While the recent flurry of record oil prices may be temporary, government analysts said Thursday that $30-a-barrel oil should be expected for decades to come.
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Citing a need for domestic energy, the government plans to open for exploratory drilling thousands of acres on Alaska's North Slope that have been protected for decades because of migratory birds and caribou.
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An artist's rendering of a bowhead whale diving. (Richard Ellis) Our endless quest for that wondrous liquid fossil fuel, oil, is expanding toward the ends of the Earth as higher prices justify more extreme extraction efforts. Jad Mouawad, my friend and colleague covering the global oil industry, ventured to frigid Barrow, Alaska, recently to write about [...].
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NEW YORK -- Oil futures rose to a new record of $100.09 a barrel Thursday after the government reported a larger-than-expected decline in crude oil inventories and an unexpected rise in heating oil supplies.
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Canada has said it will build two military facilities in the Arctic. Are we witnessing a scramble for resources in the region?