Tag: Oil

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Trump says would approve Keystone XL pipeline if elected

Trump says would approve Keystone XL pipeline if elected

Trump wants better deal on Keystone XL pipeline By Valerie Volcovici and Emily Stephenson BISMARCK, ND, May 26 (Reuters) – Republican presidential contender Donald Trump said on Thursday that he would approve TransCanada’s Keystone XL pipeline proposal if elected, reversing a decision by the administration of President Barack Obama to block it over environmental concerns. […]

May 26, 2016 | By | Reply More
TSX ends slightly lower after posting a 9-month high

TSX ends slightly lower after posting a 9-month high

TSX up as eight of 10 main groups were higher   By Fergal Smith TORONTO, May 26 (Reuters) – The TSX, Canada’s main stock index, edged slightly lower on Thursday, including losses for resource stocks as oil and gold prices dipped. Still, the index has rallied nearly 22 percent from an almost 3-1/2-year low in January of […]

May 26, 2016 | By | Reply More
Suncor pushing for full operations by end of June: Sources

Suncor pushing for full operations by end of June: Sources

Poor air quality, resurgence of fire could hamper Suncor operations By Eric M. Johnson CALGARY, Alberta, May 25 (Reuters) – Suncor Energy Inc is pushing to reach full operations at its oil sands projects in the fire-stricken Canadian province of Alberta before July 1, according to several company employees. A massive wildfire that erupted earlier […]

May 25, 2016 | By | Reply More
Shell job cuts: 2,200 more employees out of work in face of weak oil prices

Shell job cuts: 2,200 more employees out of work in face of weak oil prices

Shell job cuts targeted to be 12,500 by year’s end LONDON, May 25 (Reuters) – Royal Dutch Shell will cut a further 2,200 jobs, taking its target for layoffs to 12,500 by the end of the year, the Anglo-Dutch oil firm said on Wednesday, as it cuts deeper in the face of weak oil prices. Shell […]

May 25, 2016 | By | Reply More
Alberta wildfire economic pain singes beyond energy sector

Alberta wildfire economic pain singes beyond energy sector

Alberta wildfire hitting rail, hospitality sectors By Euan Rocha and Allison Lampert TORONTO/MONTREAL, May 25 (Reuters) – The wildfire that has ravaged northern Alberta and cut Canadian crude output by 25 percent is set to crimp corporate earnings beyond the oil patch, especially hitting the rail and hospitality sectors. The fire, which has caused an […]

May 25, 2016 | By | Reply More
Alberta wildfires to trim 1.25 per cent off Q2 growth

Alberta wildfires to trim 1.25 per cent off Q2 growth

Alberta wildfires have cut daily crude production by over 1M bpd By Leah Schnurr and David Ljunggren OTTAWA, May 25 (Reuters) – Damage from the Alberta wildfires will shave 1.25 percentage points off economic growth in the second quarter, though a speedy rebound was likely, the Bank of Canada said on Wednesday in a statement […]

May 25, 2016 | By | Reply More
Firefighters battling 1,100 C flames protect Alberta oil sands

Firefighters battling 1,100 C flames protect Alberta oil sands

Alberta oil sands bitumen not flammable, but workers, facilities at risk By Liz Hampton, Eric M. Johnson and Ethan Lou EDMONTON/CALGARY, Alberta, May 24 (Reuters) – Fighting massive forest fires is dangerous and taxing enough, but those sent into the Alberta oil sands are not only wrestling with one of the worst wildfires in the country’s history. They […]

May 24, 2016 | By | Reply More
TSX rises to a 7-month high, led by banks and energy stocks

TSX rises to a 7-month high, led by banks and energy stocks

TSX up 97.61 points, or 0.7 percent, to 14,017.19 By Fergal Smith TORONTO, May 24 (Reuters) – Canada’s main stock index closed higher on Tuesday as strength in the financial sector ahead of the bank earnings season helped overcome a slump in shares of gold miners. The TSX, which also received support from the energy […]

May 24, 2016 | By | Reply More
Crescent Point posts bigger Q1 loss

Crescent Point posts bigger Q1 loss

Low oil prices hamper Crescent Point May 12 (Reuters) – Canadian oil and gas producer Crescent Point Energy Corp reported a bigger quarterly loss due to weak oil prices. Crescent Point, which said it continued to lower its overall cost structure, has slashed its dividend, curbed capital spending and scaled back drilling activity to operate […]

May 12, 2016 | By | Reply More
TSX barely higher as energy sector rises after fire

TSX barely higher as energy sector rises after fire

Seven of the TSX 10 main groups fall   TORONTO, May 12 (Reuters) – Canada’s main stock index fell slightly on Thursday as losses for some heavyweight financial and mining names dragged, while energy stocks gained with higher U.S. oil prices and as oil sands employees prepared to return to work after a wildfire. At […]

May 12, 2016 | By | Reply More