Energy and financials weigh TSX, while U.S. stocks edge higher; Loonie up

Energy and financials weigh TSX, while U.S. stocks edge higher; Loonie up
TORONTO — Losses in the key energy and financial sectors weighed on stocks in Toronto in late-morning trading as Canada’s main stock index lost ground. The S&P/TSX composite index was down 40.49 points at 16,090.98. In New York, the Dow Jones industrial average was up 16.53 points at 25,142.94. The S&P 500 index was up 6.68 points at 2,789.70, while... Read More

Canadian Natural buying Devon Energy’s Canadian assets for $3.8 billion

Canadian Natural buying Devon Energy’s Canadian assets for $3.8 billion
CALGARY — Canadian Natural Resources Ltd. has signed a deal to buy the Canadian operations of Devon Energy Corp. for $3.8 billion. The assets include thermal in situ oilsands production and conventional primary heavy crude oil operations located adjacent to existing Canadian Natural assets. The production acquired under the deal totals 128,300 barrels per day, including 108,200 from the thermal in situ operations... Read More

TSX slides in mixed day that saw key sectors offset defensive gains

TSX slides in mixed day that saw key sectors offset defensive gains
TORONTO — Canada’s main stock index slid in a mixed day with the key energy, industrials and financials sectors offsetting gains in technology and a couple of defensive areas. The S&P/TSX composite index closed down 49.20 points to 16,297.46. In New York, the Dow Jones industrial average was down 237.92 points at 25,347.77. The S&P 500 index was down 23.67 points... Read More

Husky Energy chops $1.7B from 5-year plan, sets sights on investor returns

Husky Energy chops $1.7B from 5-year plan, sets sights on investor returns
CALGARY — Husky Energy is cutting average annual capital spending by 10 per cent to $3.15 billion under a new five-year plan unveiled ahead of its investor day in Toronto. The Calgary-based company controlled by Hong Kong billionaire Li Ka-Shing had forecast capital spending of about $3.5 billion per year under its 2018-22 plan released last year. It says it plans... Read More

TC Energy selling stake in Northern Courier pipeline to AIMCo for $1.15 billion

TC Energy selling stake in Northern Courier pipeline to AIMCo for $1.15 billion
CALGARY — TC Energy Corp. has signed a deal to sell an 85 per cent stake in its Northern Courier Pipeline to Alberta Investment Management Corp. for roughly $1.15 billion. The company formerly known as TransCanada says the 90 kilometre pipeline transports bitumen and diluent between the Fort Hills mine site in northern Alberta and Suncor Energy’s terminal north of Fort... Read More

Canadian Utilities selling Canadian fossil fuel-based power assets

Canadian Utilities selling Canadian fossil fuel-based power assets
CALGARY — Canadian Utilities Ltd. says it has signed agreements to sell its entire Canadian fossil fuel-based electricity generation portfolio for approximately $835 million. Under a deal with Heartland Generation Ltd., an affiliate of Energy Capital Partners, the company will sell 11 partly or fully owned natural gas-fired and coal-fired electricity generation assets in Alberta, British Columbia and Ontario. Canadian... Read More

Cross-Canada corridor concept getting dusted off ahead of election

Cross-Canada corridor concept getting dusted off ahead of election
OTTAWA — The notion of a pan-Canadian corridor dedicated to rail, power lines and pipelines has been around for at least half a century but it looks like it’s about to get a big publicity boost. Last week, Conservative Leader Andrew Scheer used a major pre-election policy speech to dust off a similar idea. Scheer promised, if he wins October’s election, that he would to work towards establishing a cross-country “energy corridor.” He said planning for the route would be... Read More

Alberta throne speech followed by bill to repeal provincial carbon tax

Alberta throne speech followed by bill to repeal provincial carbon tax
EDMONTON — Premier Jason Kenney put forward a bill Wednesday to kill the Alberta carbon tax — and he put Ottawa politicians on notice that if they try to backstop it with their own levy, he’ll see them in court. “Promise made. Promise kept,” Kenney told reporters as his new United Conservative government tabled its signature bill of the new legislature session. An Act to Repeal... Read More

Encana CEO says Canadian oilfield would produce more if regulated in the U.S.

Encana CEO says Canadian oilfield would produce more if regulated in the U.S.
CALGARY — The CEO of Encana Corp. says Western Canada’s Montney oil and gas region would be two to four times more productive if it was in the United States with its more efficient regulatory systems. Doug Suttles says the enormous hydrocarbon-bearing formation that underlies the Alberta-B.C. border can compete with premier Texas shale oilfields but it’s being held back by a “cumbersome”... Read More

Stocks in Toronto edge down, while U.S. stock markets up; loonie slips lower

Stocks in Toronto edge down, while U.S. stock markets up; loonie slips lower
TORONTO — Canada’s main stock index edged lower in late-morning trading, hurt by losses in the key energy and financial sectors. The S&P/TSX composite index was down 4.72 points at 16,439.14. In New York, the Dow Jones industrial average was up 55.35 points at 25,918.03. The S&P 500 index was up 4.88 points at 2,881.20, while the Nasdaq composite was... Read More