Shippers scrambled to shift freight onto trucks on Thursday as a strike at Canada's biggest railroad, Canadian National Railway Co , entered its third day and left many goods stranded. Some 3,200 unionized employees, including conductors and yard workers, hit picket lines on Tuesday in the biggest such action in a decade. The strike, which is over working conditions, has slowed output at industrial plants making chemicals, canola oil and other products. Some major retailers and pulp and [Read more]
Alberta oil curtailments to end no later than this time next year
The premier of Alberta, Canada's top oil-producing province, said Wednesday that the end of a government-imposed curtailment on oil production could come earlier than its December 2020 sunset date. "We hope it will end by this time next year at the latest," Premier Jason Kenney told Reuters during an interview in Houston, where he met with executives from Chevron Corp , Phillips 66 , other oil pipeline and private equity firms. Alberta introduced mandatory oil production curbs on Jan. 1, [Read more]
U.S. natgas futures fall to 3-week low on record production, moderating weather
U.S. natural gas futures fell to a fresh three-week low on Tuesday as production rose to an all-time high and the latest weather forecasts confirmed an earlier outlook calling for near normal temperatures through early December. After dropping around 4.5% on Monday on moderating weather forecasts, front-month gas futures for December delivery on the New York Mercantile Exchange fell 5.6 cents, or 2.2%, to settle at $2.510 per million British thermal units, their lowest close since Oct. 28 for [Read more]
Encana shareholder to vote against proposal to exit Canada
Encana Corp shareholder Letko, Brosseau & Associates Inc said on Tuesday it will vote against the oil and gas company's proposed exit from Canada to the United States. The investment firm, which owns a nearly 4% stake in Encana, said the move will cause significant losses for Canadian investors. Encana was not immediately available for a comment. Last month, the company said it would shift base from Calgary to the United States and become Ovintiv Inc next year, the latest company to [Read more]
Thousands of Canadian National Railway workers go on strike
About 3,000 workers of Canadian National Railway , the country's largest railroad operator, went on strike on Tuesday, labor union Teamsters Canada said after both parties failed to resolve contract issues. "Conductors, trainperson and yard workers at Canadian National Railway are now officially on strike," the union said in a tweet . Canada, one of the world's biggest exporters of farm products, relies on its two main railways to move canola and wheat over the vast distances from western [Read more]
Canadian ministers meet with CN Rail, union in effort to avert strike
Canada's Liberal government sent two ministers on Monday to meet with representatives of Canadian National Railway Ltd and its largest union, as already hard-hit shippers pleaded for government intervention to avert a strike planned for early on Tuesday. The threatened strike by 3,000 workers with Teamsters Canada comes as the country is grappling with softer demand for freight. Labor Minister Patty Hajdu and Transportation Minister Marc Garneau were to meet with representatives from CN, [Read more]
Canadian National Railway gets strike action notice from union
Canadian National Railway said on Saturday that the Teamsters labor union had given it notice it plans to strike starting Nov. 19, following a stalemate in negotiations between the two parties. The company, the largest Canadian railroad operator, offered the Teamsters Canadian Rail Conference a binding arbitration, which the union declined, CN's Chief Operating Officer Rob Reilly said in a statement. "If a settlement cannot be reached this weekend, we will once again encourage the union [Read more]
U.S. oil drillers cut rigs for fourth week in a row -Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row as producers plan to slash spending for a second consecutive year in 2020 while they struggle to extract profits from the shale boom. Drillers cut 10 oil rigs in the week to Nov. 15, bringing the total count down to 674, the lowest since April 2017, energy services firm Baker Hughes Co said in its closely followed report on Friday. In the same week a year ago, there were 888 active [Read more]
U.S. natgas futures little changed on Friday, down 5% for week as weather moderates
U.S. natural gas futures were little changed on Friday, putting the contract on track to fall about 5% for the week as weather later in November was forecast to be less cold than previously expected. Front-month gas futures for December delivery on the New York Mercantile Exchange were up 0.8 cents, or 0.3%, to $2.655 per million British thermal units at 8:15 a.m. EST (1315 GMT). That put the front-month down about 5% for the week, which would be its first weekly decline in three [Read more]
Montana lawmakers seek more time for Keystone XL public, tribal input
Montana lawmakers representing Native American tribal members called on the state's congressional delegation and the U.S. State Department on Thursday to extend the public comment period for the environmental review of the Keystone XL pipeline, saying tribes were not properly consulted. "We are particularly concerned with the lack of formal consultation with tribal governments whose natural and cultural resources could be significantly impacted," the 10 members of the State-Tribal Relations [Read more]