Earnings
Tentative Deal Reached In Canadian Oil Project
ST. JOHN's, Newfoundland (AP) — The leader of Canada's east coast province of Newfoundland has announced a tentative agreement to develop an offshore project estimated to contain 223 million barrels of oil.
Newfoundland and Labrador Premier Danny Williams said Tuesday the provincial government will acquire a 10 percent equity stake in Hibernia South. The development includes Exxon Mobil Corp., Chevron Corp., Petro-Canada, Norsk Hydro, Murphy Oil Corp. and Canada Hibernia Holding. Williams says over the life of the project, the province will generate $8.8 billion in revenue while Canada will earn $3.1 billion. Newfoundland rejected a proposal to develop the project in 2007.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
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DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
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-0.21%
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-0.23%
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-0.35%
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-2.71%
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