CALGARY - There were more signs of belt-tightening in the oilpatch Monday, as oil prices continued their downward slide and energy stocks were pummelled.Precision Drilling Corp. (TSX:PD) and Vermilion Energy Inc. (TSX:VET) were among the Canadian energy firms to cut capital budgets for next year, in addition to Trilogy Energy Corp. (TSX:TET), which is also halting its dividend "given the current market environment."U.S. benchmark crude for January delivery was down more than four per cent from [Read more]
Slumping oil prices threaten to reduce revenues at Canada’s top banks
TORONTO - Oil prices that reached a five-year low on Friday are starting to take a bite out of profits at TD Bank (TSX:TD) and raising concerns for the rest of the country's top lenders.Canada's biggest banks earn up to 20 per cent of their revenues through providing investment and corporate banking services, with oil and gas companies an important part of that client base.But with oil prices slipping — they have tumbled roughly 35 per cent to under $70 a barrel from their mid-summer highs due [Read more]
Northern B.C. First Nations to pursue part ownership of LNG, mining projects
PRINCE GEORGE, B.C. - First Nations chiefs in British Columbia's resource-rich north have banded together to pursue ownership of liquefied natural gas, mining and forestry projects.Thirty-six hereditary and elected chiefs have signed an agreement to collectively benefit from resource development in their traditional territories.Chief Martin Louie of the Nadleh Whut'en First Nation said Friday that a meeting to sign the agreement was triggered by concerns around consultation and environmental [Read more]
Alberta to talk about ‘consistent’ carbon price at climate change conference
EDMONTON - Alberta's environment minister says the province plans to use the upcoming climate change conference in Peru to discuss a uniform price for carbon across Canada and the rest of the continent."We would like to work with the rest of Canada — and by extension the rest of North America — on trying to establish the consistent, fair price on carbon," Kyle Fawcett told The Canadian Press in an interview before he headed to Lima for the UN-sponsored conference."I know that's not going to be [Read more]
Kinder Morgan president says policing costs are not company’s responsibility
BURNABY, B.C. - The president of Kinder Morgan says his company isn't responsible for the policing bill related to pipeline protests at a Metro Vancouver conservation site.Burnaby Mayor Derek Corrigan has suggested the energy giant help pay for police who spent over a week blocking demonstrators from Kinder Morgan's surveying site on Burnaby Mountain.But Kinder Morgan Canada president Ian Anderson said during a telephone townhall on Wednesday night that policing costs are a municipal [Read more]
Discussion on the Energy East pipeline proposal ‘good news’: premier
REGINA - Saskatchewan's premier says the latest interprovincial discussion on the Energy East pipeline proposal is "very good news" for the $12-billion project.Ontario's concerns about the potential environmental impact of the pipeline narrowed considerably Wednesday following a meeting between Premier Kathleen Wynne and Alberta counterpart Jim Prentice.Ontario and Quebec had set out seven principles for the project, which would carry western crude to refineries in Eastern Canada.Premier Brad [Read more]
Republican Gov. Chris Christie heads to Calgary to talk energy, Keystone
CALGARY - New Jersey's governor says delaying the Keystone XL pipeline sends a bad message to investors, stunts the growth of the Canadian oilsands industry and is no way to treat a key ally of the United States.One of the Republican party's top prospects for a run at the White House in 2016, Gov. Chris Christie travelled to Calgary on Thursday to back the controversial TransCanada (TSX:TRP) pipeline from Alberta's oilsands to the Gulf Coast and pan the time it is taking Washington to make a [Read more]
Canadian Oil Sands cuts quarterly dividend by 42 per cent amid lower oil prices
CALGARY - Canadian Oil Sands Ltd. is cutting its quarterly dividend by 42 per cent as it aims to protect its balance sheet in a gloomy oil price environment.The Calgary-based firm (TSX:COS), whose main asset is a 37 per cent stake in the massive Syncrude oilsands mine north of Fort McMurray, Alta., said it plans to reduce its dividend to 20 cents from 35 cents when it reports its fourth-quarter earnings in late January.With the current dividend level, Canadian Oil Sands said its net debt would [Read more]
Petronas delaying decision on B.C. LNG as oil slump further squeezes economics
CALGARY - Malaysian energy giant Petronas said Wednesday it's delaying its proposed liquefied natural gas terminal near Prince Rupert, B.C., even though it's pleased with recent moves the provincial government has made to make the nascent LNG industry more competitive.Petronas acknowledged the B.C. government has "brought resolution to key policy matters," such as establishing a tax regime for LNG firms, detailing offsets for greenhouse gas emissions and gaining support from First Nations.But [Read more]
Wynne, Prentice meet to talk Energy East pipeline amid Central Canada concerns
TORONTO - Ontario's concerns about the environmental impact of the proposed Energy East pipeline narrowed considerably Wednesday following a meeting between Premiers Kathleen Wynne and Jim Prentice of Alberta.Ontario and Quebec had set out seven principles for the $12-billion pipeline project, which would carry western crude to refineries in eastern Canada, the most notable relating to its potential impact on climate change.But after meeting Prentice in her office, Wynne said her concerns were [Read more]
- « Previous Page
- 1
- …
- 383
- 384
- 385
- 386
- 387
- …
- 487
- Next Page »