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Suncor Energy Inc

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  • June 16- Norway's Statoil ASA is "weeks away" from reaching a deal with the government of Newfoundland and Labrador to develop the company's 600 million-barrel Bay du Nord oil discovery off the Canadian province's Atlantic coast, the province's premier said on Tuesday. Newfoundland Premier Paul Davis said the province was close to terms with Norway's largest...

  • Statistics Canada said on Thursday that the number of Albertans receiving unemployment insurance benefits rose for the fifth-straight month in March to 38,800, 8.9 percent more than in February. "After several years of stark outperformance, economic growth in Alberta is expected to slow to just 0.4 percent this year, effectively placing the province in...

  • CALGARY, Alberta, April 30- Canadian Oil Sands Ltd, the largest shareholder in the Syncrude Canada Ltd joint venture, said on Thursday it swung to a loss in the first quarter as oil prices dropped by more than half. The company, which has a 37 percent stake in the Syncrude project, said its net loss was C $186 million, or 38 Canadian cents per share, compared with a net...

  • Canadian Oil Sands posts loss, says cost cut paying off Thursday, 30 Apr 2015 | 4:50 PM ET

    CALGARY, Alberta, April 30- Canadian Oil Sands Ltd, the largest shareholder in the Syncrude Canada Ltd joint venture, said on Thursday it swung to a loss in the first quarter as oil prices dropped by more than half. The other Syncrude partners are Imperial Oil Ltd; Mocal Energy; Murphy Oil Corp; Nexen, a wholly owned subsidiary of China's CNOOC Ltd; Sinopec and Suncor...

  • April 29- Suncor Energy Inc, Canada's largest oil and gas company, reported a loss on Wednesday as oil prices tumbled by half and a foreign exchange loss outweighed higher production. Operating earnings, which exclude one-time items like the C $940 million foreign exchange loss on the value of the company's U.S.-dollar denominated debt, fell sharply to C $175...

  • Suncor turns to loss on low oil, foreign exchange loss Wednesday, 29 Apr 2015 | 10:34 PM ET

    April 29- Suncor Energy Inc, Canada's largest oil and gas company, reported a loss on Wednesday, as oil prices tumbled by half and a foreign exchange loss cut into profits. The company's net loss was C $341 million, or 24 Canadian cents per share, compared with a profit of C $1.49 billion, or C $1.01 per share, in the first quarter of 2014.. Operating earnings, which exclude...

  • April 1- Canada's largest oil and gas company Suncor Energy Inc said on Wednesday that it expected to largely implement operating budget cuts of C $600 million to C $800 million in 2015, ahead of the previously projected two-year period. The company had said in January that it would also cut about 1,000 jobs, freeze hiring and slash C $1 billion in capital...

  • Canadian oil sands woes reach far-flung eastern shores Thursday, 19 Mar 2015 | 1:00 AM ET

    Cape Breton is another example how the 60 percent slide in oil prices since last June has rippled far and wide, affecting property markets in Alberta and North Dakota, helicopter sales in Houston, the Canadian dollar and national interest rates. Many young workers head to Fort McMurray in northern Alberta, lured by big paychecks awaiting at oil sands projects...

  • CALGARY, Alberta, March 11- About 1,000 construction workers employed by a contractor at Husky Energy Inc's Sunrise oil sands project were laid off unexpectedly on Wednesday, a union official confirmed. Izzy Huygen, a Fort McMurray, Alberta, representative of the Christian Labor Association of Canada, said many of the workers had expected their jobs to last...

  • CALGARY, Alberta, March 5- Canadian crude-by-rail exports dipped in the fourth quarter from the previous three-month period, National Energy Board data showed on Thursday, as poor netbacks deterred some shippers from loading barrels onto trains bound for U.S. markets. "The differentials have come in quite a bit so they just have not been covering the railing...

  • CALGARY, Alberta, March 5- A year ago, one of the hottest parts of Canada's red-hot housing market was Alberta's oil capital of Calgary, where cash-rich consumers fought for the fanciest home on the block. While realtors in Calgary are loathe to admit the tide has turned, sellers are no longer in the drivers' seat and buyers are biding their time in hope of a real estate...

  • CALGARY, Alberta, Feb 25- Encana Corp, Canada's largest natural gas producer, slashed its 2015 capital budget by a quarter on Wednesday in response to a slump in global crude oil prices. Encana said it will spend between $2 billion and $2.2 billion in 2015, down from the original budget of $2.8 billion announced in December. Chief Executive Officer Doug Suttles...

  • CALGARY, Alberta, Feb 24- Cash flows from the Canadian oil sands will fall by $23 billion and turn negative in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low crude prices make it less economical to extract tar-like bitumen from the sands. The oil sands of northern Alberta hold the world's third-largest proven crude...

  • CALGARY, Alberta, Feb 24- Oil sands cash flows will fall by $23 billion in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low global petroleum prices make it less economical to extract bitumen from northern Alberta. Canada's oil sands hold the world's third-largest proven crude reserves after Saudi Arabia and Venezuela, but...

  • CALGARY, Alberta, Feb 24- Oil sands cash flows will fall by $21 billion in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low global petroleum prices make it less economical to extract bitumen from northern Alberta. Canada's oil sands hold the world's third-largest proven crude reserves after Saudi Arabia and Venezuela, but...

  • *TSX ends down 71.86 points, or 0.47 percent, at 15,212.75. TORONTO, Feb 18- Canada's main stock index slipped on Wednesday, its first decline in six sessions, as shares of oil and gas companies were weighed down by the stalling momentum of a recent rally in the price of oil. "If the dollar backs off a little bit and crude oil continues to gain some traction at these prices,...

  • TORONTO, Feb 18- Canada's main stock index slipped on Wednesday as a recent rally in the price of oil began showing signs of losing momentum, weighing on energy producers' shares. Investors also followed news that Greece will submit a request to the euro zone to extend a "loan agreement" for up to six months. However, Germany said no such deal was in the works and Athens...

  • NEW YORK, Feb 17- Warren Buffett's Berkshire Hathaway Inc on Tuesday disclosed a 5 percent stake in agricultural equipment maker Deere& Co and said it shed a $3.74 billion investment in oil company Exxon Mobil Corp as oil prices plunged. The changes were among several that Berkshire made in its common stock investments in the fourth quarter, according to a U.S....

  • CALGARY, Alberta, Feb 16- After years of enduring spiralling operating costs Canada's oil and gas industry is being hit by price deflation, as producers push to share the pain of low crude prices with contractors, service providers and suppliers. "The pressure on pricing was almost instantaneous and right across the board," Precision Drilling Corp Chief...

  • CALGARY, Alberta, Jan 29- 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. Canadian Oil Sands said net income in the quarter was C $25 million, or 5 Canadian cents per share, down from C...