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January 4
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Companies commit to studies to developing natural gas from Sable Island Offshore Nova Scotia |
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January 10
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The province of Alberta assisted a great deal in making 1994 a record year for well permits issued by approving 10,880 licences
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April 27
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OPEC chief states the cartel will not continue to lose share to non-OPEC states and urges cooperation to steady prices |
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May 1
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U.S. President Bill Clinton's ban on trading Iranian oil sends international oil prices higher
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May 24
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Sun Company, Inc. sold Suncor, Inc. shares and will receive $1.17 billion |
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June 2
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Amoco Canada Petroleum Company Ltd. plans to spend $100 million developing its Primrose & Wolf Lake heavy oil play, and within the next several years plans to spend over $500 million on the oilsands project
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June 9
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Alberta Energy Company Ltd. and TransCanada Pipelines Ltd. have filed an application to build the Express Alberta-to-Wyoming oil pipeline
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June 14
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A discovery well in Simonette reached full production of 8,000 bbls per day. Chevron Canada Resources has a 75% interest with a joint owner Shell Canada at 25% interest
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August 24
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Hibernia awards Schlumberger a five year contract for well services for both onshore and offshore activities
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September 7
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The federal government decides to keep 20% of Petro-Canada’s shares but sell $1.7 billion of its controlling interest |
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September 8
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The shareholders of Home Oil Company Limited opted for the upside offered by Anderson Exploration Ltd.'s share swap offer (first announced on Aug. 11) instead of the competing $16.50 per share cash proposal made by Amoco Canada Petroleum Company Ltd.
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September 19
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Northern Border Pipeline Company is finalizing plans to expand its natural gas system through Monchy, Saskatchewan to export another 700 mmcf a day of Canadian gas to the Chicago area
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October 12
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Imperial Oil Resources Limited is waiting for the government’s approval for crude oil recovery in the Cold Lake area |
