EDMONTON - Premier Jim Prentice is ratcheting up warnings of a NDP-governed Alberta, bringing federal NDP Leader Thomas Mulcair into the fray and saying the party has a "fundamental distrust of business.""Make no mistake about the NDP," he told 1,500 party faithful at a Progressive Conservative fundraising dinner Thursday night."When you drill down into the policies that they are putting forward, you realize this not a new NDP."Fundamentally, the NDP could undermine the heart of Alberta's [Read more]
PSAC forecasts “astounding” drop in drilling
CALGARY - A drilling industry group is slashing its forecast for the number of wells that will be drilled in Canada this year by nearly half. The Petroleum Services Association of Canada is calling for only 5,320 wells across the country in 2015. The group says that's an "astounding" 47 per cent drop from what it predicted in October. The forecast is based on an average natural gas price of C$2.50, crude prices of US$53 a barrel and the Canadian dollar at 77 U.S. cents. The well [Read more]
Lower oil prices push Exxon Mobil’s profit down 46 per cent; weakest 1Q in 6 years
IRVING, Texas - Exxon earned $4.94 billion in the first quarter, a huge sum but only about half of what the company made last year. Lower oil prices depleted both Exxon's top and bottom lines.It was the lowest first-quarter profit for Exxon Mobil Corp. in six years, although the results still beat Wall Street expectations.When world oil prices collapsed from about $100 a barrel to less than $50 over the second half of last year, it made some drilling projects unprofitable. Exxon is beginning to [Read more]
Focus on costs as oilsands giants Suncor, Imperial report earnings
CALGARY - Top oilsands executives say they're looking past swings in crude prices and focusing instead on what's within their control."The truth is no one knows" where prices are heading, Rich Kruger, CEO of Imperial Oil Ltd. (TSX:IMO), said Thursday at the company's annual meeting."At Imperial, we are approaching our business as if we may be in for a sustained period of lower prices," he said. And if the market improves, "all the better."During the first quarter, U.S. benchmark crude hovered [Read more]
Shell sees revenue dive due to slide in energy prices, but profits above forecasts
LONDON - Oil company Royal Dutch Shell on Thursday reported better-than-expected profits, though sales were hammered by the drop in global energy prices.It said its first-quarter profit rose 7 per cent, thanks to a good performance in the refining division as well as to the fact that year-earlier figures were weighed down by one-time charges.The current cost of supplies, a measure of profit used in the industry that strips out fluctuations in the value of oil stocks, increased to $4.76 billion [Read more]
Oilsands giant Suncor Energy posts $341-million net loss in first quarter
CALGARY - Suncor Energy Inc. (TSX:SU), Canada's largest oilsands producer, posted a $341 million net loss during the first three months of 2015, when crude prices hovered around a meagre US$50 a barrel.During the same period a year earlier, the Calgary-based company turned a net profit of about $1.49 billion.Without unusual items in the mix, like foreign exchange impacts, Suncor posted $175 million in operating earnings, down sharply from $1.79 billion during the first quarter of 2014.Suncor has [Read more]
Cenovus CEO pans idea of royalty review as May 5 Alberta election looms
CALGARY - The CEO of Calgary-based Cenovus Energy says it would be a bad idea to review Alberta's royalty structure at a time when crude prices are down by half.Brian Ferguson says if Alberta is not fiscally competitive, then jobs and investment will go elsewhere.Royalties have become a hot topic ahead of Tuesday's election, with NDP Leader Rachel Notley saying it makes sense to examine whether Albertans are getting their fair share of the province's resource riches.Notley has also said she [Read more]
NDP’s Notley brushes off Alberta premier ‘fear-mongering’ over energy
CALGARY - Alberta NDP Leader Rachel Notley says Premier Jim Prentice is fearmongering when he accuses her of turning her back on the oil industry and job creation.Notley has said that if she wins next Tuesday's election, she will hold a review of the province's royalty structure to ensure that Albertans are getting a fair return for their non-renewable resources.Prentice says that would hurt the industry and undermine public confidence in Alberta.Royalties are paid by energy companies to develop [Read more]
Federal pipeline regulator asks public to guide emergency plans for oil spills
VANCOUVER - The chairman of the National Energy Board says the regulator has been "too conservative" in demanding information from oil pipeline companies and is moving to bolster disaster cleanup plan requirements.But Peter Watson contends that issues such as climate change remain outside his agency's mandate — a situation that can't be changed without federal legislation.Watson said the energy board will open a new round of public consultations on the specific emergency response information it [Read more]
Prentice says voter deserve clarity from the Alberta NDP on energy pipelines
EDMONTON - Alberta's election campaign has hit the home stretch with the Progressive Conservatives accusing the NDP of being pipeline defeatists, while the New Democrats chastise the Tories for backing projects they know will never be approved.Premier Jim Prentice attacked NDP Leader Rachel Notley on Monday for her promise to take a hands-off approach on two pipeline projects to get Alberta oil to the coast.Prentice said it reflects an NDP ethos in other provinces. He noted the party in British [Read more]
- « Previous Page
- 1
- …
- 363
- 364
- 365
- 366
- 367
- …
- 487
- Next Page »