27 November

Canada’s main stock index rose at open on Monday, as energy shares gained after oil prices bounced back. The Toronto Stock Exchange’s S&P/TSX Composite index was up 56.31 points, or 0.38 per cent, at 15,067.04 U.S. stocks opened higher on Monday, as optimism of a robust holiday season powered gains in shares of retailers and […]

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27 November

For months, much of the focus on Alberta’s oil-price woes has centred on Western Canadian Select. That’s understandable because heavy oil accounts for about half of Canada’s crude production, and WCS is the heavy-oil benchmark. Earlier this month, it plunged to a record low of less than US$14 a barrel, and currently sits around US$19. […]

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27 November

Cheap Alberta oil is giving economists second thoughts about the next Bank of Canada rate increase. Considered a sure thing only a couple of weeks ago, doubts are beginning to emerge about whether the central bank will hike in January without a rebound in slumping prices for Canadian heavy crude. In reports over the past […]

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27 November

Smoke rises from railway cars that were carrying crude oil after derailing in downtown Lac-Mégantic, Que., Saturday, July 6, 2013. The Alberta oil industry is in deep trouble because of the huge price discount (by as much as $50 US per barrel) for bitumen (West Canadian Select) compared to the U.S. benchmark West Texas Intermediate […]

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27 November

Bank of Nova Scotia, the biggest Canadian lender to oil and gas companies, has been reducing risk in its portfolio and doesn’t expect a major fall out from slumping prices. “We feel very proud of the names that we bank,” Dieter Jentsch, the executive who’s overseen much of the lending to Western Canada’s energy firms […]

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27 November

All three major indexes in the United States enjoyed a big bounce back on Monday, November 26. Unfortunately, the energy-heavy TSX only gained 1 point on the same day. Collapsing oil and gas prices have exacted a heavy toll on Canadian energy stocks. There is hope for some respite ahead of a major OPEC meeting […]

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27 November

An oil well pumps against the setting sun. For more than a decade, the Saskatchewan government’s mid-year budget update demonstrated how we were winning with oil. Former NDP governments would coyly lowball expected West Texas Intermediate per barrel prices , only to “surprise” reporters and the public with the good news of added budget surplus […]

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27 November

Alberta has pledged to impose cleanup timelines on energy companies in a major policy shift to reduce growing financial and environmental risks tied to tens of thousands of idled oil and gas wells across the province. Energy Minister Margaret McCuaig-Boyd said on Monday she has also told the Alberta Energy Regulator to beef up oversight […]

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27 November

CALGARY, Alberta, Nov. 27, 2018 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision”) (TSX:PD; NYSE:PDS) today announced that it has terminated the arrangement agreement (the “Arrangement Agreement”) dated October 5, 2018 with Trinidad Drilling Ltd. (“Trinidad”) following the announcement by Ensign Energy Services Inc. that it had taken up 56.38% of the outstanding common shares of […]

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27 November

TransCanada Corp has asked a Montana court to allow it to resume pre-construction activities on its Keystone XL oil pipeline after a U.S. judge blocked construction on the $8 billion project earlier this month. The Calgary, Alberta-based company has temporarily halted all pre-construction work in the United States on the pipeline project as a result […]

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