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Tag Archives: energy

Vermilion Energy Inc’s spending cuts praised by analysts

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Vermilion Energy Inc.’s decision to reduce its capex spending plans for 2016 to $285 million from a previous preliminary figure of $350 million is being welcomed by analysts, partly because it should shore up the Calgary-based oil and gas producer’s dividend. Macquarie analyst Chris Feltin noted that the company’s production …

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Suncor Energy Inc to weigh options over weekend if it doesn’t win over enough Canadian Oil Sands Ltd shareholders

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With Suncor Energy Inc.’s all-share offer for Canadian Oil Sands Ltd. set to expire Friday evening, Suncor CEO Steve Williams and his advisors will likely huddle over the weekend to plot their next move. Suncor’s $4.13B hostile takeover of Canadian Oil Sands teeters as Friday deadline looms Suncor’s takeover of …

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Suncor Energy Inc’s $4.13B hostile takeover of Canadian Oil Sands Ltd teeters as Friday deadline looms

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Suncor Energy Inc.’s $4.13 billion takeover of Canadian Oil Sands Ltd. looks far from certain, with the target’s share price trading at a record gap to the bid just a day before expiring. Where did the potential buyers of Canadian Oil Sands disappear to? At a hearing before the Alberta …

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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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Burnaby calls on national energy regulator to suspend Trans Mountain pipeline review

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BURNABY, B.C. – The National Energy Board should suspend its review of the Trans Mountain pipeline until Prime Minister Justin Trudeau reforms the national regulator, a lawyer for the City of Burnaby said Wednesday. “You do not have the authority to speak in the interest of the citizens of Burnaby,” …

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19 Canadian energy companies and 12 miners under review for downgrade as Moody’s takes stock of global commodity meltdown

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Moody’s Investors Service has put the world’s energy and mining companies on high alert for rating downgrades as the collapse in commodity prices puts major stress on their balance sheets. In total, the credit rating agency placed 120 oil and gas companies and 55 mining companies under review. Nineteen of …

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National Energy Board doing ‘inadequate’ job of tracking whether pipelines meet approval conditions

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CALGARY • A divisive national debate over pipelines has turned squarely on the processes of the National Energy Board at the same time as a new report slams the regulator’s “inadequate” follow-up on pipeline approvals. In a report Tuesday, the office of federal environment commissioner Julie Gelfand said the NEB  …

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Ottawa to take more time weighing Energy East, Trans Mountain pipeline approvals

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CALGARY – The federal government will take extra time to weigh approvals for both the Energy East and Trans Mountain pipeline projects, and will assess both projects’ impacts on Canada’s greenhouse gas emissions. Joe Oliver: Canada's foolish pipeline flubs could be economically disastrous We risk looking foolish by failing to …

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‘Wall of cash’ said to await Canadian energy sector after forgettable year for deals

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It was the kind of year when chief financial officers had to dig deep and use every tool at their disposal to fortify their companies’ balance sheets. With crude oil shedding 45 per cent of its value in 2015, Canadian oil and gas producers glumly took an axe to their …

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Energy uncertainty moves upstream

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On Jan. 27, the federal government injected yet another syringe full of uncertainty into the country’s oil and gas sector, announcing a nebulous plan to overhaul Canada’s environmental assessment process to incorporate concerns over greenhouse gas emissions. As always, the initial announcements are long on lofty goals and short on …

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