CALGARY — Statoil has put its Corner oil sands project on hold for at least three years as it grapples with rising costs.
The decision means about 70 jobs will be cut, the Norwegian energy firm said Thursday.
In a statement on its website, Statoil said improvements have been made to the project, but it has decided not to go any further at this stage.
“Costs for labour and materials have continued to rise in recent years and are working against the economics of new projects,” said Statoil Canada country manager Stale Tungesvik.
With an enterprise value of at least $500-million, the Grand Renewable Solar Project has already made a little history: The Ontario-based project which is being developed as a three-way partnership between Samsung Renewable Energy, Connor Clark & Lunn Infrastructure and Six Nations is the largest solar project developed in Canada and one of the largest in North America.
Even people with demanding and fulfilling professional lives can have a passion project waiting for them at home that they're dying to finish. As proof, look no further than Tesla CEO Elon Musk, who in his spare time runs the space flight company SpaceX, or Box CEO Aaron Levie, who has become an accomplished magician.
The challenge was created to fund brilliant social enterprises from across the South West. Social enterprises launched their crowdfunding campaigns on Crowdfunder and those with the most pledges for their great ideas battled it out on the leader board over 28 days to make it to the top six.
Temex Resources Corp V.TME announced April 29 an updated 43-101 resource estimate of its Juby Gold Project located in Ontario’s Timmins-Kirkland Lake mining camp. At a cutoff of 0.4 grams per tonne gold, it contains 25.3 million tonnes grading 1.28 g/t gold for 1.04 million gold ounces indicated and 74.2 million tonnes grading 0.91 g/t for 2.17 million gold ounces inferred.
Career management takes work. However, one of the most important factors for professional success is your ability to manage those who manage you. Although you have no direct control over your supervisor, there is much you can do to "help him help you."
HALIFAX — A wind power project on Sable Island off Nova Scotia is over budget and remains at a standstill more than a decade after the federal government launched the initiative.
Environment Canada began a pilot project in 2000 that was supposed to see five wind turbines generate energy onto the grid of the crescent-shaped sandbar known for its wild horses, sand dunes and fragile environment.
CALGARY – Canada’s oil sands and U.S. tight oil plays will contribute more than one-third of new supplies to global markets between now and 2018, the International Energy Agency says.
Production from northern Alberta’s bitumen reserves, the world’s No. 3 deposit, North Dakota’s Bakken play and the Eagle Ford shale in Texas will provide 40% of new supplies in the next five years, as global output surges by 8.4 million barrels a day, the Paris-based agency said Tuesday.