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Tag Archives: Alberta

Alberta’s credit rating downgraded on concerns over rising debt

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CALGARY – Alberta Finance Minister Joe Ceci said Friday he is disappointed to see the province lose its top credit rating, but doesn’t expect the move will affect Alberta’s borrowing costs. “Obviously we are disappointed by today’s report, but the steep drop in the price of oil is hitting Alberta …

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Perpetual Energy Inc shares plunge as Alberta Securities Commission rules in favour of its rights offering

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CALGARY – Perpetual Energy Inc.’s share price plunged more than 20 per cent Thursday after securities regulators ruled in favour the company’s planned $25 million rights offering. Lawyers for Perpetual argued at an Alberta Securities Commission hearing Tuesday and Wednesday that an application to cease trade the offering would have …

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Alberta’s clean-tech sector could be one of the province’s few growth businesses in 2016

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CALGARY – While many companies that service the oil and gas industry are struggling with record-low demand for their expertise, Scott Nelson and his team have become steadily busier in recent weeks. Oilfield services companies face a 2016 where there’s little left to cut As prices started receding in November …

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Alberta losing reputation as energy investment destination in wake of higher taxes

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Alberta, home to Canada’s oilsands, slid lower in a global ranking of energy investment destinations as the industry’s mounting woes are compounded by higher provincial levies. Just as its oil and gas producers reel from a price crash and hurdles to pipeline projects like TransCanada Corp.’s Keystone XL, an increase …

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Future grim for Alberta, DBRS says, with province expected to blow through debt limits this year

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EDMONTON — An internationally recognized credit rating agency is sounding alarm bells on Alberta’s debt situation. The Toronto-based agency DBRS, in a report issued Thursday, says with oil prices so low and the government’s borrowing plans so high, Alberta will exceed its own self-imposed legislated debt limits this fiscal year. …

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Alberta lost the most jobs in 2015 since 1980s recession: Statistics Canada

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CALGARY — Alberta lost more jobs last year than in any year since the 1982 recession, revised numbers from Statistics Canada show. The updated figures released Tuesday show the province lost 19,600 jobs in 2015, up from an earlier estimate of 14,600. That was much higher than the 17,200 jobs …

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Kevin Libin: Don’t dismiss Coderre’s Alberta bashing; all anti-pipeline politics are local

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Everybody who’s nobody is rejecting Alberta’s pipelines these days. Nobody who has any official power to do so, anyway. But get enough of those nobodies together, and they can have a powerful effect that can sure get somebody’s attention. The latest is Montreal’s mayor Denis Coderre, former Liberal cabinet minister …

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WestJet drops 11 Alberta flights because of economic downturn: ‘It’s a serious decision for us’

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Alberta’s ongoing oil slump has forced WestJet Airlines Ltd. to cancel nearly a dozen daily flights out of the province’s two largest airports, primarily to western energy hubs. The Calgary-based carrier announced its summer schedule Monday, which will see six fewer daily flights from Calgary’s international airport and five fewer …

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It’s time for Alberta to play hardball, oilpatch execs say before Trudeau meeting today

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Prime Minister Justin Trudeau is in Alberta this week to take stock of the devastation wrought by the collapse in oil prices. Trudeau’s rebranding of Canada offers sunshine to Davos, but it’s cold comfort for battered oilpatch Like it or not, he will also get an earful over the spate …

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Alberta unveils $500 million subsidy for companies building petrochemical processing plants

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CALGARY – Petrochemical companies have begun lining up to apply for the Alberta government’s new $500-million subsidy program intended to bring more “value-added” jobs to the province. Alberta Economic Development and Trade Minister Deron Bilous and Energy Minister Marg McCuaig-Boyd announced the new program Monday, which would give companies building …

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