Canadian Oil & Gas History

1968 Highlights

January 12 First court appeal of an Albertan Arbitration Board ruling backfires resulting in almost five-fold increase in the award to the farmer-landowner
March 6 Past President of the American Association of Petroleum Geologists, Michel T. Halbouty, warns Russians may be eyeing Middle East reserves as a "petroleum route to world control"
May 13 Lewis G. Weeks, internationally-known oil consultant, estimates Athabasaca tar sands contain 1.5 billion tons of recoverable sulphur, representing 42% of world reserves
July 8 Carl Nickle says the Shaheen Refinery plan by Come-by-Chance, Newfoundland is ingenious but detrimental to national interest
July 22 Industry expects Prudhoe Bay to stimulate Northern Canadian exploration and speed transportation development
Decmeber 31 Gross industry revenues increased 7.7% over 1967 to a record $1.3 billion; oil and liquids production increased 11.9% to over 435 million barrels and gas production increased 11.9% to 4.7 billion cubic feet a day; sulphur production rose to 2.95 million long tons, up to 36%