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Suncor Energy Inc

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  • 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...

  • OTTAWA, Jan 28- A North American Free Trade Agreement panel has halted a probe of Canada's oversight of oil sands tailings ponds following a unanimous vote by its three member countries, officials said on Wednesday. The complainants argued that Canada was failing to enforce environmental laws related to alleged leaks from industry tailings ponds into water...

  • NAFTA panel halts probe of Canadian oil sands oversight Wednesday, 28 Jan 2015 | 3:52 PM ET

    The complainants argued that Canada was failing to enforce environmental laws related to alleged leaks from industry tailings ponds into water in northern Alberta. Canada has said both the federal government and provincial government in Alberta are enforcing their environmental laws. Canada argued that the probe would interfere with ongoing...

  • Jan 28- Cenovus Energy Inc Canada's No. 2 independent oil producer, cut its 2015 capital budget by C $700 million on Wednesday, blaming plunging crude oil prices. The savings will come from suspending the bulk of Cenovus's conventional drilling program in southern Alberta and Saskatchewan, and delaying some long-term expansions and new projects in the oil...

  • Jan 28- Cenovus Energy Inc, Canada's No. 2 independent oil producer, cut its capital spending budget for 2015 in response to the slump in crude oil prices. The company said it could defer spending of up to C $700 million, mainly by suspending a bulk of its conventional drilling in southern Alberta and Saskatchewan and delaying long-term oil sands expansion and new...

  • TORONTO, Jan 21- Canada's main stock index rallied on Wednesday after the central bank cut its benchmark rate in a shock move, helping boost shares of energy companies as well as interest-sensitive banks and other financial issues. "The Bank of Canada's surprise cut to its overnight rate will help to buffer against the impact on employment, household incomes and...

  • CALGARY, Alberta, Jan 20- Canada's oil sands companies are perilously close to operating at a loss after six months of plunging crude prices, yet many say they have no plans to cut production at their vast projects in northern Alberta. On the contrary, Syncrude and Canadian Natural Resources Ltd are planning to boost production, in the expectation economies of...