OTTAWA, March 22 (Reuters) – Chinese state-owned energy
company CNOOC Ltd, which last month completed a $15.1
billion takeover of Canada’s Nexen, has been hit by a Canadian
oil glut that is depressing prices for Canadian crude, a senior
executive said on Friday.
Vice President Fang Zhi said CNOOC saw Nexen as an eventual
secure supply of energy for China but also wanted to secure the
highest price possible for its oil in markets currently
OTTAWA, March 20 (Reuters) – An alliance of Canadian and
U.S. aboriginal groups vowed on Wednesday to block three
multibillion-dollar oil pipelines that are planned to transport
oil from the Alberta tar sands, and said they are prepared to
take physical action to stop them.
The Canadian government, faced with falling revenues thanks
to pipeline bottlenecks and a glut that has cut the price for
Alberta oil, say the projects are a national priority and will
help diversify exports away from the U.S. market.
OTTAWA, March 18 (Reuters) – Canada’s industry minister on
Monday said he hoped BlackBerry would remain a national
champion but added he did not know what would happen to the
mobile device maker, given the “very aggressive”
“We never know what can happen but I’ve said – and I truly
believe this – I hope BlackBerry will continue to be a Canadian
champion in the world, that it grows organically,” Christian
Paradis told Reuters in an interview in his office.
OTTAWA, March 7 (Reuters) – Canada’s hard-pressed economy
showed signs of recovery in January, when the nation posted its
best trade performance in almost a year and building permits
eked out modest growth after the biggest two-month fall in 24
Canada is struggling to cope with weak exports, tough
competition, uncertain foreign markets and a strong Canadian
dollar, which combined to produce a 0.2 percent drop in gross
domestic product in December.
OTTAWA (Reuters) – Proposals to ban trade in polar bear furs will do little to ensure the animals’ long-term future, Canada’s Arctic Inuit and two major conservationist groups both say.
The United States wants the Convention on International Trade in Endangered Species of Wild Flora and Fauna (CITES) to list the bears as endangered at its meeting in Bangkok this week, a move that would prohibit international trade in their body parts and fur.
OTTAWA, March 1 (Reuters) – Canadian Finance Minister Jim
Flaherty expressed rare public frustration with the United
States on Friday, saying it was regrettable that Canada’s main
trading partner kept lurching from crisis to crisis.
Political deadlock in Washington means the U.S. government
is due to start imposing $85 billion worth of automatic federal
spending cuts on Saturday. Canada sends 75 percent of all its
exports to the United States and is very reliant on the economic
health of its southern neighbor.
OTTAWA (Reuters) – Canada expects to be able to make enough medical isotopes through non-nuclear methods by 2016 to replace those now produced by an aging reactor and better assure an uninterrupted supply for medical imaging, a government minister said on Thursday.
To that end, the federal government will fund three research institutes developing cyclotron and linear accelerator technologies for production of isotopes on a commercial scale, Natural Resources Minister Joe Oliver said.
OTTAWA, Feb 28 (Reuters) – Canadian Natural Resources
Minister Joe Oliver said on Thursday he does not expect the
United States to reject TransCanada Corp’s proposed
Keystone XL pipeline from the Alberta oil sands to Texas.
U.S. officials say they expect the government to make a
final decision on the northern leg of the $5.3 billion pipeline
by the middle of the year.
OTTAWA (Reuters) – France is still ready to start pulling its forces out of Mali next month despite a rebel attack on the key northern town of Gao, the French head of the armed force said on Friday.
Admiral Edouard Guillaud, chief of the defense staff, told reporters after a speech in Ottawa that he was not surprised by Thursday’s attack in Gao, when 15 Islamists were killed by French and Malian troops.
OTTAWA, Feb 22 (Reuters) – The Canadian economy registered
its lowest inflation in more than three years in January and its
largest decline in retail sales in almost three years in
December, a double whammy of data that depressed the Canadian
dollar and bond yields.
“All of this would feed into a dovish Bank of Canada and
Canadian dollar weakness,” said Camilla Sutton, chief currency
strategist at Scotiabank.