Home / Tag Archives: oil

Tag Archives: oil

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

1222kubik.jpg

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 …

Read More »

Oil price collapse named Business Story of the Year for second year in a row

oilstory.jpg

CALGARY — The price of oil — and its far-reaching impact on the Canadian economy — has once again been voted The Canadian Press Business Story of the Year. np_storybar title=”Canada’s challenge is how to make money selling the world’s cheapest oil — but it can be done” link=”http://business.financialpost.com/news/energy/canadas-challenge-is-how-to-make-money-selling-the-worlds-cheapest-oil-but-it-can-be-done?__lsa=7c02-804f”%5D The …

Read More »

Where did the potential buyers of Canadian Oil Sands disappear to?

cos-suncor.jpg

Unless something dramatic happens between now and Friday, Suncor’s planned, albeit hostile, acquisition of Canadian Oil Sands is expected to play out as anticipated. While shareholders may not like the all-paper offer, they will support the transaction because the alternative of owning an independent company that trades lower – is …

Read More »

Canadian crude — the world’s cheapest oil — falls to record low as slump deepens

0106crude.jpg

A deepening oil market slump is adding fresh pain for producers of the world’s cheapest crude as the Canadian heavy grade reached a record low, raising the prospect of more production coming offline. Spot prices for Western Canadian Select fell to US$19.81 a barrel on Wednesday, the lowest since tracking …

Read More »

Oil resumes slide after earlier gain as tensions between Saudi Arabia and Iran raises questions about future supply

iran.jpg

LONDON — Oil slipped, reversing earlier gains after a breakdown in diplomatic ties between Saudi Arabia and Iran that some speculated could result in supply restrictions, although gains were tempered by data showing some of Asia’s largest economies are struggling. Saudi Arabia, the world’s biggest oil exporter, cut diplomatic ties …

Read More »

Oil plunge spurs bold call that Bank of Canada will cut rates next week

poloz2.jpg

Oil’s plunge to below $31 Monday has spurred a bold call from one financial giant that the Bank of Canada will cut rates on Jan. 20. Things are falling apart, said Bank of America Merrill Lynch in a note to investors Monday. “Recent data suggest that economic weakness is spreading …

Read More »

Oil lurches closer to $20 Goldman Sachs doomsday forecast: ‘The supports are crumbling’

0107oil.jpg

LONDON — When U.S. investment bank Goldman Sachs said last year that oil could fall as low as US$20 per barrel, it assigned a fairly low probability to that scenario. Canadian crude — the world’s cheapest oil — falls to record low as slump deepens A deepening oil market slump …

Read More »

Oil breaches key barrier and falls below $30 for the first time in 12 years

oil-flare.jpg

NEW YORK — Oil fell briefly below US$30 a barrel on Tuesday, extending a relentless selloff that has wiped almost 20 per cent off prices this year amid deepening concerns about fragile Chinese demand and the absence of output restraint. The day’s near 4 per cent drop marks a seventh …

Read More »

Oil falls below US$32 a barrel to hit new 12-year low: ‘China has torpedoed the hopes of optimists’

oil1.jpg

Crude declined to a 12-year low, confirming the view of hedge funds that cut bullish price bets to the lowest since 2010. Futures dropped as much as 6.4 per cent in New York, adding to last week’s 10 per cent slide. Speculators’ net-long position in West Texas Intermediate crude slipped …

Read More »

Oil plunge spurs bold call that Bank of Canada will cut rates next week

poloz2.jpg

Oil’s plunge to below $31 Monday has spurred a bold call from one financial giant that the Bank of Canada will cut rates on Jan. 20. Things are falling apart, said Bank of America Merrill Lynch in a note to investors Monday. “Recent data suggest that economic weakness is spreading …

Read More »