Articles Tagged "canada"

What the Canadian Election Could Mean for the Alberta Oil-Sands

A brief guide to the energy platforms of the four major federal parties contesting the May 2nd election, highlighting key policies that may have an impact on the development of the Alberta oil-sands.

Crude oil headed for $71.55 a barrel

Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.

UBS declined Imperial Oil to sell

UBS declined Imperial Oil Ltd. to sell from neutral on valuation and revised the price targets of several other Canadian oil and gas companies as the brokerage lowered its crude oil and natural gas price forecasts on weak global economy. For full story, click here

Suncor Energy and Petro Canada to merge

Suncor Energy Inc. and Petro-Canada declared that they have agreed to merge the two companies. Rick George, who is president and chief executive officer of Suncor, said: This merger creates a made-in-Canada energy leader with the assets, cost structure and financial strength to compete globally. For full story, click here

Canada’s currency is little changed as crude oil fell

Canada’s currency was little changed as crude oil dipped and futures indicated U.S. stock indexes may open flat. Christian Lawrence, a currency strategist at RBC Capital Markets in London, said: The market is waiting for the U.S. open, to see where stocks are going to go. For full story, click here

Oil Price Drops on Job Losses

The United States government statement that U.S. employers had slashed over a half million jobs in January, the highest yet in 35 years, lead to crude oil prices dropping just below $41 a barrel, way below the high of $147 a barrel last summer. There is a link between layoffs and the demand on oil, say analysts, as those laid off see no need for the daily commute, and buy less of petroleum products like toys and raincoats.