CALGARY, Alberta, Feb 24 (Reuters) – Alberta, the largest
oil exporter to the United States, said on Tuesday it still
expects to end the current fiscal year in surplus but warned the
full impact of lower crude prices won’t be felt until the next
In its third-quarter budget update the Canadian province
said it expects to post a C$465 million ($368.9 million) budget
surplus for the 2014/2015 fiscal year that ends on March 31.
CALGARY, Alberta, Feb 23 (Reuters) – Royal Dutch Shell Plc
is shelving plans to build a new oil sands mine in
northern Alberta, the largest such project to be deferred as
producers struggle with low energy prices.
The company said on Monday it is withdrawing its regulatory
application for the 200,000-barrel-per-day Pierre River project.
Instead, it will concentrate on boosting the profitability of
its existing 255,000-bpd oil sands operations.
CALGARY, Alberta, Feb 18 (Reuters) – Talisman Energy Inc
common shareholders on Wednesday voted to approve an
$8.3 billion offer for the Canadian oil and gas producer from
Repsol SA, clearing the way for the Spanish company to
acquire Talisman’s worldwide operations.
Talisman common and preferred shareholders both voted nearly
unanimously in favor of Repsol’s Dec. 16 offer to pay $8 per
share for the company, a 56 percent premium to the day-prior
closing price for the company on the Toronto Stock Exchange.
Repsol will also assume Talisman’s $4.7 billion long-term debt.
CALGARY, Alberta, Feb 17 (Reuters) – Canadian National
Railway Co said on Tuesday it has nearly completed
repairs on a stretch of its mainline track in northern Ontario
after a crude train derailed on the weekend, spilling oil and
causing several of the cars to burn.
The company said in a notice that the site, about 80
kilometers (50 miles) south of Timmins, Ontario, is expected to
be cleared by 10 p.m. local time. It did not say if the line,
which runs between Montreal and Winnipeg, Manitoba, would
immediately re-open once the clean up was complete.
OTTAWA/CALGARY (Reuters) – Canada confirmed its first case of mad cow disease since 2011 on Friday, but said the discovery should not hit a beef export sector worth C$2 billion ($1.6 billion) a year.
The news, however, helped boost U.S. cattle prices.
The Canadian Food Inspection Agency (CFIA) said no part of the animal, a beef cow from Alberta, had reached the human food or animal feed systems.
OTTAWA/CALGARY (Reuters) – Canada confirmed its first case of mad cow disease since 2011 on Friday but expressed confidence the discovery would not hit a beef export sector worth C$2 billion ($1.6 billion) a year.
The Canadian Food Inspection Agency (CFIA) said no part of the affected animal, a beef cow from Alberta, had reached the human food or animal feed systems.
CALGARY, Alberta, Jan 29 (Reuters) – Canadian Oil Sands Ltd
, the largest-interest owner in the Syncrude oil sands
project, slashed its dividend and further reduced 2015 capital
spending on Thursday as fourth-quarter profit dropped 87 percent
due to lower oil prices.
The company cut its dividend to 5 Canadian cents a share for
the first quarter of 2015, down from 20 Canadian cents.
CALGARY, Jan 15 (Reuters) – The Canadian government will
unveil its budget this year later than it usually does, waiting
at least until April because of market volatility, Finance
Minister Joe Oliver said on Thursday.
“Given the current market instability, I will not bring
forward our budget earlier than April. We need all the
information we can obtain before finalizing our decisions,”
Oliver said in the text of a speech he was giving in Calgary.
CALGARY, Alberta, Jan 13 (Reuters) – Canada’s largest oil
and gas company Suncor Energy Inc said on Tuesday it
would cut about 1,000 employees and contractors, freeze hiring
and slash C$1 billion (US$837 million) in capital spending in
response to falling crude oil prices.
Suncor said it would also defer some capital projects that
have not yet been sanctioned, such as MacKay River 2 in northern
Alberta and the White Rose Extension offshore Atlantic Canada.
CALGARY, Alberta (Reuters) – The suspected killer of eight people in the Canadian city Edmonton had a criminal record dating back to 1987 and used a stolen handgun to carry out the murders before killing himself, police said.
Police found one victim’s body late on Monday and the remaining seven at a house elsewhere early on Tuesday. The killer committed suicide in a Vietnamese restaurant 19 miles (30 km) northeast of Edmonton, the capital of Alberta.