Tag: Alberta Economy
Husky Energy issues more layoff notices, says step difficult but necessary
Husky Energy cut 400 jobs in Calgary CALGARY _ Slumping world oil prices continue to hit Calgary’s energy industry hard as more layoffs have been announced. Husky Energy (TSX:HSE) issued pink slips to 400 people arriving for work at the downtown Calgary office on Tuesday but there could be many more when cuts from their […]
Alberta oil industry meeting with PM: Encouraging, but no pipeline assurances
Alberta oil industry reps met with Prime Minister Trudeau, Alberta Premier Notley CALGARY _The head of Suncor Energy says a meeting between major players in Canada’s oilpatch and Prime Minister Justin Trudeau was encouraging but there were no assurances on pipelines. Trudeau, federal Natural Resources Minister Jim Carr and Alberta Premier Rachel Notley took part […]
Alberta oil industry providers meet with Canadian Prime Minister
Justin Trudeau, Jim Carr, Rachel Notley meet with Alberta oil, gas producers CALGARY _ Prime Minister Justin Trudeau is sitting down in Calgary this morning with some of the major players in Canada’s oilpatch. Trudeau, federal Natural Resources Minister Jim Carr and Alberta Premier Rachel Notley are taking part in a roundtable with oil and […]
Canadian oilpatch adjusts to the ‘new normal’ after a year of pain
Canadian oilpatch facing unrelenting global output, carbon cutting push CALGARY _ The stream of traffic between Cold Lake, Alta., and nearby oilfields has slowed to a trickle. “It’s definitely a noticeable slowdown,” said Mayor Craig Copeland, who has been hearing from hotels, restaurants and retailers that business is down about 30 per cent year-over-year in […]
Carbon tax major blow to Alberta’s investment climate
Alberta no longer has lowest top income tax rate, when federal and provincial or state taxes are combined, among Canadian provinces, US states Troy Media – Recent policy changes have buried the Alberta Advantage. The latest nail in the coffin comes from the provincial government’s new climate change strategy. For many years, Alberta’s strong investment […]
Suncor Energy to boost spending next year to as much as $7.3B
Suncor 2016 capital budget up $900M over this year CALGARY _ Suncor Energy has set a capital budget for 2016 that’s $900 million higher than what it expects to spend this year. That’s despite the company’s gloomy outlook for commodity prices next year: U.S. benchmark crude unchanged at US$50 a barrel and a Canadian heavy […]
Trican Well Services to get relief from banks, note holders
Trican facing new conditions CALGARY – Trican Well Service Ltd. (TSX:TCW) says it has an agreement in principle with its lenders that will put the company in a better financial position. As part of the agreement, expected to come into force before the end of October, Trican’s revolving credit facility from its bank lenders will be […]
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