Business Canada

  • CALGARY, Alberta, Nov 1- Suncor Energy Inc said on Thursday that rising light oil production threatens the profitability of a massive new upgrading facility planned by Canada's dominant oil sands producer as it delayed plans to expand output from the world's third-largest oil reserve.

  • *PM, on Nov 3-11 Asian trip, will say Canada open for business. OTTAWA, Nov 1- Prime Minister Stephen Harper will promote Canada as open for business during a Nov. 3-11 trip to Asia, although he is not likely to unveil long-awaited guidelines for foreign takeovers of Canadian firms, an aide said on Thursday.

  • NEW YORK- Huge logistical problems from power failures and navigational hazards roil the massive New York Harbor oil hub in the wake of Hurricane Sandy, threatening widespread delays in fuel deliveries off the New York Mercantile Exchange's futures contracts (STORM-SANDY/CME-DELIVERIES, moving shortly, 800 words).

  • *Q3 EPS C $0.74 vs C $0.83 a year earlier. Nov 1- BCE Inc, Canada's biggest telecom provider, said on Thursday its quarterly profit fell from a year earlier, when lower tax expenses boosted results, and its shares dropped despite strong wireless and media results.

  • Nov 1- Ford Motor Co of Canada remained Canada's top-selling automaker in October with total sales increasing 7 percent largely on the back of a nearly 17 percent jump in passenger car sales, the company said on Thursday. Ford of Canada, a wholly-owned unit of Ford Motor Co, said total vehicle sales increased to 20,565 last month from 19,190 in October 2011.

  • CALGARY, Alberta, Nov 1- Husky Energy Inc expects no cost overrun or delay at its C $2.5 billion Sunrise oil sands project in Alberta, despite a tightening labor supply and growing industry-wide inflation, Chief Executive Asim Ghosh said on Thursday. ``We have a reasonable handle on where we are.

  • *Sources say review of CNOOC bid for Nexen set to be extended. The Conservative government has promised to present new guidelines at around the same time it announces its decision on whether to approve a $15.1 billion bid by China's state-owned CNOOC Ltd to take over oil producer Nexen Inc.

  • Nov 1- Chrysler Canada said on Thursday its sales in October rose 3 percent over a year before, continuing its nearly three-year run of stronger sales largely on the back of higher passenger car sales.

  • *Q3 EPS C $0.74 vs C $0.83 year earlier. Nov 1- BCE Inc, Canada's biggest telecom provider, said on Thursday its quarterly profit had fallen from a year earlier, when lower tax expenses boosted results, and its shares fell even as it reported strong wireless and media results.

  • Nov 1- Exxon Mobil Corp, the world's largest publicly traded oil company, reported a quarterly profit on Thursday that topped expectations, as higher margins from its refining arm countered a 7.5 percent decline in oil and gas output. Earlier this month, Exxon agreed to buy Celtic Exploration Ltd for $2.64 billion.

  • Nov 1- Exxon Mobil Corp, the world's largest publicly traded oil company, reported a quarterly profit on Thursday that topped expectations, as higher margins from its refining arm countered a 7.5 decline in oil and gas output. Earlier this month, Exxon agreed to buy Celtic Exploration Ltd for $2.64 billion.

  • CALGARY, Alberta, Nov 1- Suncor Energy Inc said on Thursday that it may delay completion of its planned Fort Hills oil sands mine by a year, with production now slated to start in 2017, as it reviews the profitability of its expansion plans.

  • MOSCOW, Nov 1- Rosneft more than doubled its cash reserves in the third quarter, as the state-owned Russian oil firm bolsters its finances ahead of its $55 billion acquisition of Anglo-Russian oil producer TNK-BP. ``It is always like this,'' said Vitaly Kruykov from brokerage IFD Kapital. ``The company had been accumulating cash... in this case for TNK-BP.''.

  • Nov 1- Exxon Mobil Corp, the world's largest publicly traded oil company, on Thursday reported a lower quarterly profit that topped expectations, as higher margins from its refining arm countered a 7.5 decline in oil and gas output.

  • HOUSTON, Oct 31- Phillips 66' s increased access to cheaper crude oil from the United States and Canada boosted its quarterly profits above analyst expectations after the U.S. refining company spun off from ConocoPhillips earlier this year, the company reported on Wednesday.

  • WASHINGTON, Oct 31- A U.S. free trade agreement with Panama went into force on Wednesday, five years after it was originally negotiated, opening the way for increased U.S. exports as the Central American country continues its canal expansion project.

  • WASHINGTON, Oct 31- The Pentagon on Wednesday said it would continue to support ``large numbers'' of BlackBerry phones made by Research in Motion Ltd even as it moves forward with plans that would allow the U.S. military to begin using Apple Inc's iPhone and other devices.

  • JERUSALEM/ WINNIPEG, Manitoba, Oct 31- Potash Corp, the world's No. 1 fertilizer producer, is ramping up efforts to buy Israel Chemicals Ltd so it can shore up its leverage with China and India, top consuming countries that are expected to drive much of the industry's growth.

  • OTTAWA, Oct 31- Bank of Canada Governor Mark Carney, on the heels of telling markets that an interest rate hike was not imminent, offered several reasons on Wednesday for why the central bank has kept rates exceptionally low.

  • OTTAWA, Oct 31- Canada is likely to extend its review of the $15.1 billion bid by China's CNOOC Ltd for oil producer Nexen Inc beyond next week's deadline to allow more time for the government to formulate a broad framework on foreign investment, two sources close to the matter said on Wednesday.