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Tag Archives: energy

Husky Energy Inc to sell assets, cut Alberta spending to survive in oil’s ‘uncharted territory’

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CALGARY — Husky Energy Inc. is considering the sale of part of its vast midstream business and will cut capital spending – particularly in Alberta – in 2016 to make itself more resilient in a low oil price environment. ‘OPEC is dead’: Cartel that once blackmailed nations now only able …

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Cenovus Energy Inc not impacted by oilsands’ emissions cap, CEO Brian Ferguson says

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A new hard cap on greenhouse gas emissions in the oilsands won’t impact Cenovus Energy Inc.’s growth plans, president and CEO Brian Ferguson said Thursday. 'Group of four doesn't speak for the industry': Backlash grows against secret carbon deal Claudia Cattaneo: It’s becoming increasingly clear that hell will freeze over …

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Renewed oil price rout makes Suncor Energy’s hostile takeover bid for Canadian Oil Sands difficult to predict

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CALGARY – The renewed fall in oil prices is making it difficult to predict the outcome of Suncor Energy Inc.’s hostile takeover offer for Canadian Oil Sands Ltd. “The change in the oil price makes this an interesting poll to call,” Brendan Wood International managing director Jordan Novak said in …

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Energy East pipeline costs jump 30%, as TransCanada makes 700 tweaks to plan

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CALGARY – Building the Energy East pipeline will cost almost $4 billion more than expected, the result of hundreds of tweaks to the project’s design and an expanded terminal in Saint John, N.B. TransCanada Corp. announced Thursday that it had filed an amendment to the National Energy Board for the …

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Suncor Energy Inc’s bid for Canadian Oil Sands Ltd pits CEO’s pledge to deliver against poor record

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As Canadian Oil Sands Ltd. tries to fend off Suncor Energy Inc.’s $4.33 billion bid, the latest upset at its only business couldn’t have come at a worse time. Billionaire investor Seymour Shulich says he would support a sweetened offer for Canadian Oil Sands The most outspoken opponent of Suncor …

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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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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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