Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Search results

1-10 results from 1000 for query «oil»

January 15, 2019 4:04 PM BP scales back exploration plans off N.S., gives up half its offshore area

HALIFAX - BP Canada is scaling back its oil and gas exploration plans off Nova Scotia, giving up half the offshore area included in its exploration licence. The Canada-Nova Scotia Offshore Petroleum Board says the energy giant is surrendering 50 per cent of the area included in its licence — a consolidation of four offshore parcels roughly 300 kilometres 6

January 15, 2019 2:47 PM Tories rev up fundraising machine with big-ticket events featuring Premier Doug Ford, energy minister

Under Wynne’s restrictions, all MPPs, candidates, and staff were forbidden from attending any event where money was raised for political parties. But last November Finance Minister Vic Fedeli changed the law to enable politicians and their staff to go to fundraisers. That had been the case prior to Wynne’s reforms almost three years ago amid accusations 6

January 10, 2019 11:58 PM AP Explains: Venezuela’s economy, political crisis

Venezuelan President Nicolas Maduro started a second, six-year term Thursday amid international cries urging him to step down and return democratic rule to a country suffering a historic economic implosion. Maduro says he is going to turn around an economy whose collapse he blamed on U.S. sanctions. However, few experts see signs that his policies will rescue 11

January 4, 2019 1:47 PM Canada’s unemployment rate sticks at 43-year low of 5.6%; weak wage growth persists

OTTAWA—The unemployment rate stayed at its 43-year low of 5.6 per cent last month as the economy closed out 2018 with the addition of 9,300 net new jobs, Statistics Canada said Friday. For the second straight month, the jobless rate was at its lowest level since Statistics Canada started measuring comparable data in January 1976. Economists had expected 10

January 3, 2019 11:22 PM Apple bombshell shakes financial markets to the core

While Apple’s stunning announcement this week shook financial markets, its cause could shake the Canadian economy. As one of the world’s biggest tech companies announced Wednesday it was lowering its profit estimates, Apple CEO Tim Cook suggested a slowing Chinese economy — resulting in lower iPhone sales — was largely to blame. Stock markets around 8

January 1, 2019 6:49 PM U.S. Gulf Coast refiners feast on cheap domestic oil

Growing U.S. output has sent imports to a 3-year low, as domestic barrels are cheaper than imported ones. West Texas Intermediate, the U.S. benchmark oil, is being traded at a discount of $8.10 per barrel compared with Brent, the benchmark used to price imported oil. U.S. production has doubled in the past seven years to a record 11.537 million barrels 9

December 31, 2018 9:52 PM Canadian stocks close out worst year since 2008 with a gain

Canadian stocks rose on the final trading day of the year but it wasn’t enough to prevent them from posting their worst annual performance since 2008. The S&P/TSX Composite Index gained 0.7 per cent to 14,322.86 on thin New Year’s Eve volume after U.S. President Donald Trump reported “big progress” in trade talks with China. The benchmark lost 5.8 per cent in December 15

December 29, 2018 5:00 AM Fuel thefts are an inside job, Mexican president says

MEXICO CITY—The theft of $3 billion in fuel every year from Mexico’s state-run fuel depots and pipelines is an inside job, the country’s new president said Thursday. President Andres Manuel Lopez Obrador said thieves don’t just drill taps into government pipelines. He said company employees steal fuel and distribute it or help thieves by ensuring fuel continue 11

December 27, 2018 10:38 PM CN Rail lining up pilot plant partners to make oilsands bitumen pucks

CALGARY—Canadian National Railway Co. says it is planning to build a pilot plant worth up to $50 million next year to create pucks made of oilsands bitumen to transport by rail and ships to customers around the world. CN has been working for years on a technology that mixes and coats the heavy, sticky oil with polymer plastic, creating a pellet-shaped 14

December 27, 2018 8:36 PM Too much oil, not enough pipelines, ‘primary factor’ in price plummet

The NEB says it has launched an online forum to gather public input and will meet with pipeline companies, producers, shippers, government officials and other experts in January to gather more answers for the minister. The report notes that about one million barrels per day of nameplate Canadian oil pipeline capacity was added between 2013 and 2016 but there 13