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1-10 results from 1000 for query «alberta»

December 9, 2018 2:52 AM Canada could be at risk of ‘nasty’ retaliation from China

VANCOUVER—Canada is at risk of retaliation from China, including the arrest of Canadians in the country, said a former ambassador to China after the chief financial officer of Chinese-owned Huawei was taken into custody this week. With the bail hearing of Meng Wanzhou currently underway in a Vancouver court, Canada is “caught in the middle” between an extradition 9

December 6, 2018 12:04 PM Triumphant loonie bears face hurdles to additional gains

Canadian dollar bears, gratified by the currency’s slide after a dovish Bank of Canada statement, face hurdles to further weakness in the form of rising domestic oil prices and a robust technical barrier, foreign-exchange strategists say. The loonie ended Wednesday close to the weakest since June 2017 as traders marked down the odds of BOC rate hikes 7

December 5, 2018 6:29 PM Oilsands crisis hits home as Canadian Natural cuts spending

The oilsands producer, which is projecting 2019 output equivalent to as much as 1.12 million barrels of crude a day, is the first major Canadian energy company to announce its spending plans for next year. With Western Canada’s pipelines overflowing, its crude selling at deep discounts and the province of Alberta mandating industry-wide production cuts, the company’s 11

December 5, 2018 3:19 PM Oilsands firm Canadian Natural cuts $1 billion from budget due to low oil price

CALGARY—Oilsands producer Canadian Natural Resources is setting its 2019 capital budget at $1-billion less than its “normalized” range but says it will ramp up spending if heavily discounted oil prices in Western Canada rebound. The Calgary-based company says it is targeting a 2019 base capital program of $3.7 billion, about 20 per cent below its preferred 11

December 4, 2018 6:23 PM Alberta, Saskatchewan premiers urge Trudeau to put oil ‘crisis’ on agenda for first ministers’ meet

The premiers are scheduled to meet with Trudeau in Montreal on Friday. “During your recent visit to Calgary, you called the economic impact of the oil price differential a ‘crisis.’ We agree,” Notley and Moe wrote in a letter released Tuesday. “A crisis of this magnitude must be reflected in any discussion on ‘Economic Competitiveness.’ We trust that the agenda 9

December 3, 2018 7:52 PM Oil cuts could make rail cars worth less just as Alberta buys them

Canada’s announcement to enforce mandatory production cuts starting next month will make moving crude on trains less attractive just as the government buys railcars. The two steps of the plan, part of Alberta’s goal to ease historically low prices, appear at odds with each other. On one hand, buying rail cars should ease selling pressure because of new infrastructure 13

December 3, 2018 6:15 PM Canadian heavy crude surges after Alberta imposes cuts

Alberta announced late Sunday that oil producers will have to collectively cut output by 325,000 barrels a day, or 8.7 per cent, starting in January to alleviate rising inventories and pipeline bottlenecks. The reduction would drop to 95,000 barrels a day by the end of next year. A surge of production from oilsands projects such as Suncor Energy Inc.’s Fort Hills 12

December 3, 2018 5:58 PM Crabtree and Evelyn Canada seeks bankruptcy protection amid ‘significant losses’

MONTREAL—Beauty and home products retailer Crabtree and Evelyn Canada Inc. is closing its stores and has filed for bankruptcy protection. In Quebec court filings under the Bankruptcy and Insolvency Act, the company says it plans to begin liquidating inventory, so it can distribute the proceeds to creditors. The company employs 123 full- and part-time 11

December 3, 2018 3:00 PM Why a provincial crisis in Western Canada is boosting global oil

Global oil giants like the U.S., Russia and Saudi Arabia that command the attention of traders had some unexpected company on Sunday: a province of less than 5 million people in Western Canada. Alberta added to a crude price rally Monday when Premier Rachel Notley announced producers must reduce output by 325,000 barrels a day starting next month. That’s 13

December 1, 2018 4:52 PM Overflowing oil production continues to dampen oilpatch outlook, prices

Upgraded synthetic crude from oilsands mines was selling at an $18.50 (U.S.) discount to WTI (it typically trades near par) and Edmonton light oil was receiving about a $23 discount (U.S.), although it is of similar quality to WTI. In an update report on Nov. 21, Scotiabank analysts said the wider-than-usual discounts will cost the Western Canadian oil industry 10