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January 12
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Oil futures hit $19 (US) for first time in a year
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January 22
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Gulf Canada plans Amauligak seasonal production in 1988,commercial production in 1993
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January 30
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NEB approves Cyanamid Canada's bypass of TransCanada PipeLines Limited's (TCPL's) system
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February 17
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Alberta Energy Minister Neil Webber says he will "go to war with Ottawa" if gas deregulation does not proceed according to plan
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February 18
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New, two phase Saskatchewan gas plan included price sensitive royalties and direct negotiations between producers and users
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February 24
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Shell Canada reports significant gas finds at Caroline
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February 25
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Oil futures drop to $16.31
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March 2
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Energy Resources Conservation Board (ERCB) replaces 36 year old prorationing system June 1
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March 3
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Manitoba announces Canada's first volume based royalties
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March 24
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Ontario Energy Board opens gas markets to competition by allowing gas brokers to break utilities monopoly
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March 25
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Ottawa announces $350 million drilling incentive program ERCB cuts 25A1 surplus test to 15 years for core users
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April 20
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Amoco Canada proposes to purchase Dome for $5.2 billion
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April 28
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Alberta pushes for slower gas deregulation until prices increase
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May 5
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Futures prices hit $19 per barrel
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May 25
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Alberta gas producers added 770 billion cubic feet to reserves in 1986, the third lowest replacement record since 1951
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June 10
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Manitoba reveals new gas policy to obtain lower priced gas for consumers, signs direct contracts with gas brokers and plans to acquire ICG Utilities (Manitoba) Ltd.
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June 16
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Oil futures break $20 for first time since January, 1986
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June 18
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Federal Finance Minister Michael Wilson introduces tax reforms cutting corporate tax rates and reducing depreciation write offs
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June 29
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NEB orders public hearings into controversial Manitoba request to force transportation of direct purchase gas through TCPL
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August 12
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Petro-Canada loads 25,000 barrels of crude from Panuke F-99 in an extended flow test in the first shipment of oil from Canada's East Coast
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August 24
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Crude hits four month low of $18.35 as OPEC overproduces
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September 9
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NEB scraps gas surplus test in favour of supply and demand and regular monitoring to protect consumers
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September 25
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NEB denies Manitoba transportation application
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October 1
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DOB celebrates 50th anniversary
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October 5
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Free and open continental energy trade promised in free trade agreement between Canada and the US
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