Katanga Mining expects its earnings to be hit if a row with Democratic Republic of Congo that has prevented it from importing and exporting copper is not resolved soon.Although Glencore's Katanga said on Thursday that copper production was continuing as normal, it warned that its earnings would be affected if the dispute is not settled. "Unless the dispute with the DGDA (customs authority) is resolved and KCC's (Kamoto Copper Company) imports and exports are permitted to … [Read more...]
Boyd Group Income Fund, Loblaw Companies, Uni-Select
Securities analysts revised their ratings and price targets on several Canadian companies, including Boyd Group Income Fund, Loblaw Companies and Uni-Select, on Thursday. HIGHLIGHTS * Boyd Group Income Fund : CIBC cuts price target to C$132 from C$134 * Loblaw Companies Ltd : CIBC raises price target to C$70 from C$69 * Uni-Select Inc : National Bank of Canada cuts price target to C$25 from C$26.50Following is a summary of research actions on Canadian companies reported by Reuters on … [Read more...]
Heavy crude differential widens, seen easing in near term
The Canadian heavy oil differential widened against the West Texas Intermediate (WTI) benchmark on Wednesday, but market sources said they expect modest narrowing in the near term: * Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, settled on Wednesday at $41.55 a barrel below WTI crude futures , wider than Tuesday's settle of $40.75, according to Shorcan Energy brokers. * Light synthetic crude from the oil sands for December delivery settled at … [Read more...]
U.S. approves part of TransCanada WB XPress natural gas pipeline for service
U.S. federal energy regulators on Wednesday approved a request by TransCanada Corp's Columbia Gas Transmission unit to put the eastern facilities of its $900 million WB XPress natural gas pipeline into service in West Virginia and Virginia. WB XPress is one of several pipelines designed to connect growing output in the Marcellus and Utica shale basins in Pennsylvania, West Virginia and Ohio with customers in other parts of the United States and Canada. The 1.3-billion cubic feet per day … [Read more...]
Canada’s oil industry is sparring over forced output cuts – Bloomberg
-- Source link: -- Note: Reuters has not verified this story and does not vouch for its accuracy … [Read more...]
WTI rebounds 1%, settling at $56.25 after record 12-day losing streak
Oil prices rose on Wednesday, ending the longest ever losing streak for U.S. crude, on the growing prospect of OPEC and allied producers cutting output at a meeting next month. Prices recovered, with Brent inching back above $67 after Reuters reported that OPEC and its partners are discussing a proposal to cut output by up to 1.4 million barrels per day (bpd), a larger figure than officials had mentioned previously. U.S. West Texas Intermediate (WTI) crude oil futures ended Wednesday's … [Read more...]
Impact of U.S. court ruling on Keystone XL timing unclear -TransCanada
TransCanada Corp is reviewing a decision by a Montana judge blocking construction of the Keystone XL pipeline, but the impact on project timing remains unclear, the company's top crude pipeline executive said on Tuesday. "We're going through the decisions, we're reviewing the deficiencies to determine how best to address the deficiencies," Paul Miller, President, Liquids Pipelines, said at an Investor Day in Toronto. "At this point it is too soon to determine what impact the ruling will have … [Read more...]
Australia’s Whitebark Energy jumps on drilling plans in Alberta-based project
** Shares of Whitebark Energy Ltd jump as much as 20 pct to A$0.003, their highest since Nov 7** The production and explorer firm confirms its Alberta-based Point Loma joint venture will start drilling for two exploration wells before year-end, targeting 70 mln barrels of oil equivalent in place ** Whitebark holds between 20 pct and 30 pct working interest Point Loma joint venture (PLJV) with Point Loma Resources Ltd ** Stock posts biggest intraday pct gain since Oct 3 ** Over 20.1 mln … [Read more...]
Oil pucks and pellets; Canada eyes new ways to move stranded crude
Canada's biggest railroad says it is attracting interest from oil producers in its effort to move crude in solid, puck-like form, as clogged pipelines divert more oil to riskier rail transport.Congested pipelines have stranded much of Canada's crude in Alberta, driving discounts to record-high levels. Canadian heavy crude traded on Friday for less than one-third of the U.S. benchmark light oil price.The latest blow to the sector landed on Thursday, when a U.S. court ruled construction … [Read more...]
In race to fill LNG supply gap, project goalposts have changed
The race is on for liquefied natural gas (LNG) producers to build export terminals as demand soars, but the criteria for financing such mega-projects have shifted as traditional relationships with LNG consumers have begun to disintegrate.Royal Dutch Shell's final investment decision (FID) taken last month for a $30 billion LNG Canada project was a shot in the arm for the LNG industry, which is emerging from almost three years of low prices and investment.As a vote of confidence in the … [Read more...]
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