Over the past week, Prime Minister Stephen Harper has announced two tax relief measures to help Canadian small businesses if the Conservatives are re-elected. With the Alberta oil and gas industry reeling in a one of the worst downturns to hit the industry in thirty years, any help to small business comes as very helpful indeed. Given the lack of support offered by the Provincial NDP's and looming promises made by the Federal NDP and Liberal parties, Harper's announcements to help small business [Read more]
BOE Report, Canada’s #1 oil and gas news service launches into USA
Canada's number one source for oil and gas news and information is launching into the United States. Barely three years old, BOE has experienced rapid growth in the Canadian market and will be looking to implement the same business model South of the border. The BOE Report reaches roughly 40,000 Canadian oil and gas professionals on a monthly basis. For the United States version, the content will be US energy industry focused and will be, like BOE Canada, offered for free. On the website's [Read more]
The BOE Report is pleased to offer free job postings for oil and gas companies
BOE Report is pleased to announce that, free of charge, oil and gas companies will be able to post job openings at jobs.boereport.com. With the energy industry reeling after a recent commodity price drop worse than the global financial crisis of 2008, BOE Report is happy help provide this resource. Low oil makes it increasingly difficult for companies to create shareholder value, and find the right employees to help deliver on organizational objectives. By posting on jobs.boereport.com, [Read more]
Panda wins Calgary-Foothills as NDP loses support
Wildrose MLA Prasad Panda won the Calgary-Foothills byelection on Thursday, delivering a major breakthrough for the Wildrose Party, and the first major blow to Premier Rachel Notley’s NDP. Panda captured 38% of the vote, NDP MLA Hawkesworth trailing at 26%. PC Blair Houston was close behind in third place with 22%. Panda said NDP policies — hiking corporate taxes, reviewing the province’s royalty regime and raising the hourly minimum wage to $15 by 2018 — have only made the province’s [Read more]
Low oil hits Atlantic Canada
Oil's collapse has affected not just Western Canada, but also the economy in Atlantic Canada. With offshore oilfields near Newfoundland, and many Atlantic Canadians employeed in the Alberta oil patch, the pain of low oil has hit hard. For example, in December of last year, even before oil dropped to its current low, Husky delayed a decision on its $2.8-billion White Rose project offshore Atlantic Canada. The oil collapse has also caused, according to Atlantic Provinces Economic Council [Read more]
WTI falls 8.39 %
WTI prices have fallen Tuesday, giving up some of the strong gains from the last three days, as worries about China’s economy hit the markets. WTI for October delivery fell 8.39%, to $45.07 a barrel on the New York Mercantile Exchange. Official and private gauges of Chinese manufacturing activity in August fell to new lows, indicating that the country’s economy continued to contract. This has driven concern that petroleum demand in China, the No. 2 oil-consuming nation, will [Read more]
ConocoPhillips to reduce workforce 15% by mid-October
ConocoPhillips is reportedly going to lay off 15% of its workforce, affecting 400 employees in Calgary by mid-October. This comes after the Houston based company laid off 7% of its Canadian workforce, or around 200 jobs, earlier this year in March. Spokesperson Kristen Ashcroft noted at time, “we’re in a challenged economic environment. We've had to make some tough decisions, which staff were informed of today.” More layoffs: @conocophillips to reduce workforce 15% by mid-October, [Read more]
Pengrowth answers low oil with 7% cut to head office staff, dividend reduced
Throughout 2015, Pengrowth has made five key changes to the company's overall strategy to "live within" their cash flow and combat a poor commodity price environment. The company issued in a press release today the following: "Pengrowth remains committed to taking actions to ensure the Company lives within its cash flow and looking at all options to reduce its overall indebtedness. Today’s dividend reduction is consistent with all of the measures the Company has taken in 2015 to counter [Read more]
New North Resources announces two acquisitions
New North Resources is pleased to announce that during August 2015, the Company closed two deals, as follows: - Purchase of shallow gas assets that produced approximately 200 BOED (94% natural gas), from a Public Company. - The Company acquired all of the issued and outstanding shares of Speargrass Energy Inc., With current production of 130 BOED (87 % natural gas). [Read more]
NDP has largest budget deficit ever at $9.1B
Alberta’s finance minister said earlier today the province is on track to record a $5.9-billion deficit this year as the oil crunch hits families and businesses. Joe Ceci released figures for the first three months of the 2015-16 fiscal year which began April 1. “There is no doubt many Alberta families and businesses are feeling the effects of the dramatic drop in oil prices,” said Ceci. “That’s why our government is focused on building a plan for job creation and diversification of our [Read more]
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