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January 9
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Industry poured the highest-ever total bonus for a single land sale of $84.32 million into government coffers |
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February 13
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Canadian pipeline industry celebrates 50 years since the Leduc discovery |
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March 26
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Canada moved into second place last year for exports of crude oil and refined products to the United States, pushing OPEC heavyweight Saudi Arabia into third spot |
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April 7
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During the first quarter of this year, Canada’s exploration and production business dished out $435.21 million in land sales, smashing the previous record of $328.7 million set in 1994 |
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May 23
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Today’s official launch of the completed $5.8-billion Hibernia oil platform ends a seven-year era of hope, uncertainty, praise and condemnation for a project some thought would never see completion |
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June 30
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After the poor showing by countries at last week’s United Nations Earth Summit in New York, one climate change analyst said now is the time, before the issue becomes political, for the petroleum industry to investigate alternative solutions for cutting CO2 emissions |
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July 28
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Gulf Canada Resources Limited and Stampeder Exploration Ltd. agree to $1 billion merger which will see Gulf acquire all of Stampeder’s outstanding shares |
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August 14
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First half statistics show that technology has changed rig drilling patterns - the average number of days between spud and rig release has dropped from 12 in 1991 to 10 in 1994 to eight in 1997 |
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September 30
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Shell Canada Limited has put the final piece into its oil sands puzzle by announcing it will build a $1.8-billion bitumen upgrader at its Fort Saskatchewan Scotford refinery
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October 1
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Talisman Energy Inc. announces a $501-million, all cash agreement with Loram Corporation to purchase all of the issued and outstanding shares of Pembina Resources Limited |
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October 27
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The Joint Review Panel for the Sable Gas Projects has recommended that both the Sable Offshore Energy Project and the Maritimes & Northeast Pipeline Project may proceed subject to a number of conditions |
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November 4
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Prime Minister Jean Chretien’s reassurance that there will not be a carbon tax is a relief to the Small Explorers and Producers Association of Canada |
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November 12
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NOVA Corporation’s decides to split its operations into two separate entities - a chemical operation unit and an energy services company |
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November 20
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British Columbia ended its 1997 land auction season at a total bonus of $216.77 million - the highest yearly value for the province in Bulletin records going back to 1974 |
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Novembe 25
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Syncrude Canada Ltd. revealed yesterday plans for a proposed $3-billion expansion of its crude oil upgrader near Fort McMurray |
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December 9
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Annual records set last year for completions and metres of hole already have been wiped off the books after just 11 months in 1997 as the oil and gas industry continued drilling at a breakneck pace |
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December 30
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Producers and marketers exported an average of 1.46 million bbls a day of crude and refined products between January and September to the United States, maintaining Canada as the second leading supplier |
