Sentences with phrase «of oil mining»

He stated that the ownership of Oil Mining Licence, OML13 had been restored to NPDC following a presidential intervention, with first oil from the well expected before the end of the year.

Not exact matches

Costs back then were still low by today's standards, but the integrated mining operations were seeing operating costs of $ 12 - 18 / bbl and new projects needed $ U.S. oil prices of $ 20 - $ 30 to generate reasonable rates of return.

The decreases are largely the result of the oil glut and all - time lows for crude prices — last year, mining, oil producers, and metal companies lost a combined $ 70 billion on $ 1.3 trillion in revenue.

Last March, Royal Dutch Shell said it was selling most of its stake in Canada's oil sands, a vast project that has extracted millions of barrels of sticky, gooey hydrocarbons from the ground in a process that resembles mining more than drilling.

Some have argued the resource sector isn't all that crucial to Canada's well - being, since mining and oil and gas extraction directly account for just 4.5 % of the economy.

That could throw a wrench in plans for the oilsands, which require high oil prices to remain profitable, and crimp much of the manic exploration activity in mining.

Obama had used the Antiquities Act more than any other president, his White House said in December, when he designated over 1.6 million acres of land in Utah and Nevada as national monuments, protecting two areas rich in Native American artifacts from mining, oil and gas drilling.

In 2013, oil and gas accounted for 68 % of Russia's total exports, while duties on those exports, combined with taxes on mining, accounted for 50 % of the federal government's revenue.

Mining giant Woodside Petroleum will expand its presence off the Moroccan coast after entering into a contract with the country's national oil company for a licence to explore another block of the Doukkala basin.

They lead production facilities like oil wells, mines and fisheries, and are responsible for a wide variety of duties, from ensuring production targets are met to quality control to health and safety.

This crackdown is partly due to a string of recent, highly - publicized disasters including the West Virginia coal mine explosion, an oil rig south of Louisiana that blew up, and a fire at a Washington State oil refinery.

The types of companies going public may be wonderfully diverse, but because there are fewer of them, the process of tilting the TSX away from oil and gas and mining stocks is going to be a slow one.

Many of them are in the mining and oil & gas industries.

The usual proxies for global growth — oil and other commodities, emerging market currencies, energy and mining stocks — are almost all sharply lower as investors bail out of any kind of trade predicated on growth in China and the rest of the emerging world, which accounts for 85 % of the world's population.

CALGARY — The first phase of Imperial Oil Ltd.'s Kearl oilsands mine will cost $ 2 billion more than its most recent estimate as the company faced issues transporting Korean - made modules to the mine site in northern Alberta and contended with harsh weather during startup.

Franco - Nevada Corp. (FNV: $ 44.16) A royalty company that buys interests in a diversified range of gold mines as well as interests in oil and gas and other assets.

Suncor provides a good, diversified example of the sector — Suncor markets oil sands products from a variety of operations, both mining and in situ operations, and sells both diluted bitumen and synthetic products including diesel fuel.

If you're talking about a new project with no significant investment already deployed, building a new mine if you expect today's prices to hold in the long term is a tough call — a 50 - year oil sands project is a lot of risk for less than a 10 % rate of return — but even there, you can see the impact of the lower Canadian dollar and the hedge provided by a royalty regime which lowers rates when prices are low.

Depending on mining, forestry, and oil and gas leaves the country vulnerable to swings in commodity prices and the health of our export partners.

Lockheed Martin Corp. on Tuesday named a private firm, Hybrid Enterprises LLC, as the exclusive sales agent for its Hybrid Airships, a new type of aircraft that company officials say could revolutionize the way oil and mining companies haul equipment to the Arctic and other remote areas without roads.

The oil and gas, and metals and mining sectors pay chemical engineers the highest, but they employ only about 7 % of the profession.

Canadian Natural production averaged a record 1.02 million barrels of oil equivalent per day in the fourth quarter, a 19 per cent increase from the year - earlier period, as it ramped up the latest expansion of its Horizon oilsands mining and upgrading project.

The billionaire philanthropist proceeded to compare Facebook and Google to mining and oil companies, accusing them of earning their profits «by exploiting their environment.»

«We don't want people in mining to suffer because of a big downturn and folks in oil and gas to make more because the market is great,» he says.

That's because while the first oilsands projects were open - pit mines (and those still account for more than half the oilsands output), about 80 % of the remaining oil lies too deep to mine.

The second is the broad array of businesses that cushions Bechtel against big drops in one or two sectors, such as the recent declines in mining and oil.

By far the biggest revision, on a percentage basis, came in the mining sector, which isn't surprising; the oil and gas industry, which is part of the mining sector, has been extremely volatile in the past year due to tumbling oil prices.

If you're talking about a new project with no significant investment already deployed, building a new mine if you expect today's prices to hold in the long term is a tough call — a 50 year oil sands project is a lot of risk for less than a 10 per cent rate of return — but even there, you can see the impact of the lower Canadian dollar and the hedge provided by a royalty regime which lowers rates when prices are low.

The Alberta government's revision of the Mine Financial Security Program (MFSP) continues down a wrong - headed path where the province is willing to take on environmental risk to enable oil sands development.

The Toronto Stock Exchange has the distinction of having the greatest number of companies in the mining and oil & gas industries in any exchange across the globe, which isn't surprising given how big of a percentage of Canada's economy those industries form.

That's more than the retail trade industry and close to the value of the mining, oil and gas extraction industry.

He has been involved in many of the cases that have defined the interaction between Canadian business and law for four decades, from gold mines to boardrooms, from oil fields to isotopes.

The carbon footprint of a given barrel of oil over any other was not really on the political map when Chrétien was changing the tax code to finance a mine and Klein was rewriting the royalty regime to make it easier to expand the industry.

But the steep tumble from $ 100 - per - barrel oil has helped cut short the age of big, multi-year mine developments, forcing companies to shelve other large projects; analysts expect smaller, more modular expansion projects from here on in.

Furthermore, while the company does have another potentially significant growth opportunity on the horizon in its CA$ 20 billion ($ 15 billion) Frontier oil sands mining project, it appears to be a long shot of moving forward considering where crude is these days.

And around Fort McMurray, Alta., thousands of workers continue to use mining trucks and steam - assisted gravity draining (SAGD) to extract nearly three million barrels of oil daily, confident that folks somewhere will demand the stuff, no matter how it gets to refineries and customers.

Despite slumping commodities prices affecting its oil, gas, and mining businesses, FLR still managed a 21 % ROIC in 2015 and finished the year with a larger backlog than it had at the end of 2014.

WCA is a team of expert HR consultants with decades of combined experience with a diverse range of industries including hospitality, financial services, construction, mining, oil & gas, project engineering, science & education, IT and native title.

It is therefore crucial that the Canadian government require Canadian mining, oil and gas companies operating overseas to conduct enhanced human rights due diligence, especially in regions where human rights and environmental laws (and enforcement of those laws) are lax.

Having recently called out the federal government for failing to provide a justification for its decision to approve Shell's Jackpine mine oil sands expansion project (an approach that serves no interest other than the government's, as even industry would stand to benefit from knowing why one project is justified while another, e.g. Taseko's original Prosperity mine, is not), it was reassuring to see that at least this Joint Review Panel (JRP) shares my understanding of this obligation under the Canadian Environmental Assessment Act, 2012, SC 2012, c 19.

In mining, large areas of land are cleared of trees and brush, then the top soil and clay are removed to expose the oil sand.

The Crown corporation's original government funding of $ 100 - million increased over time to $ 1 - billion, with the objective of developing technologies and processes that would get the private sector back working on the 90 per cent of the oil sands that were too deep to be surface mined.

The EEZ Act was enacted in 2013 to provide a regulatory framework to manage the environmental effects of offshore resource development such as oil exploration and seabed mining.

Refining and production are, for the most part, separate activities — they don't benefit much from integration in the physical sense (oil sands upgrading from mines is a bit of an exception, since the waste heat from the upgrader can feed the extraction plant).

TRADITIONAL ANSWER Off - grid mines have typically bought and operated their own diesel or heavy fuel oil power generating facilities, as security of energy supply is an important factor in the mining industry

Indeed, some mining and upgrading operations require global oil prices in excess of US$ 80 a barrel to be profitable over the long term.

However, given that most of Young's statements have equated the oil sands with the oil sands mining operations around Fort Mc Murray, it's worth noting that the mining (and upgrading) of bitumen contributed 32 Mt CO2 emissions to Canada's total in 2011, and that emissions from mining operations are expected to stay well below those of personal vehicles for some time.

The size of Canada's economy was around $ 2 trillion dollars at the end of 2016, and according to the latest GDP numbers released by Statistics Canada, the Canadian economy expanded at 0.6 percent in May 2017 compared to the previous month, largely led by advances in the oil, gas and mining industries, which accounted for around two - thirds of the country's GDP growth.

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