New LNG technology developed at University of Calgary touted as greener, cheaper

New LNG technology developed at University of Calgary touted as greener, cheaper
CALGARY — University of Calgary researchers focused on nanotechnology say they have developed a cheaper and more environmentally friendly way to create liquefied natural gas. Associate professor Nassar Nashaat and student Arash Ostovar say the Split Flow Integrated LNG process they developed and patented uses specialized materials and chemistry to remove carbon dioxide and other impurities from the natural gas stream without having to cool and then warm the gas as... Read More

A divided Fed reduces rates but may not cut again this year

A divided Fed reduces rates but may not cut again this year
WASHINGTON — A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year. The Fed’s move reduced its key short-term rate — which influences many consumer and business loans — by an additional quarter-point to a range of 1.75% to 2%. The... Read More

Iran tells US retaliation looms if targeted for Saudi attack

Iran tells US retaliation looms if targeted for Saudi attack
TEHRAN, Iran — Iran has warned the U.S. it will retaliate “immediately” if Tehran is targeted over a weekend attack on Saudi oil installations, its state-run news agency reported Wednesday, further raising Mideast tensions. Iran’s president and foreign minister also may not be able to attend next week’s high-level meetings at the United Nations as the U.S. has yet to... Read More

Toronto stock market in record territory again, U.S. stock market mixed

Toronto stock market in record territory again, U.S. stock market mixed
TORONTO — Canada’s main stock index pushed into record territory for another day, fuelled by gains in the materials sector offset in part by a retreat of energy stocks. The S&P/TSX composite index was up 76.44 points at 16,828.00 in late-morning trading after hitting a new intraday high of 16,831.76 in earlier trading. In New York, the Dow Jones industrial... Read More

Imperial Oil CEO Rich Kruger to retire, Brad Corson named next CEO

Imperial Oil CEO Rich Kruger to retire, Brad Corson named next CEO
CALGARY — Imperial Oil Ltd. says chairman and chief executive Rich Kruger is retiring at the end of this year. Kruger has led the company, which is about 70 per cent owned by Texas-based Exxon Mobil Corp., since 2013. He began his career at Exxon in 1981 and held various technical and management positions before coming to Canada. The company... Read More

TSX hits record high close as energy sector climbs after Saudi Arabia attack

TSX hits record high close as energy sector climbs after Saudi Arabia attack
TORONTO — Canada’s main stock index closed at a record high, boosted by a surging energy sector following a weekend attack on a Saudi Arabian oil facility. The S&P/TSX composite index rose 68.89 points at 16,751.31, topping its previous high of 16,682.42 set on Friday. In New York, the Dow Jones industrial average fell 142.70 points to 27,076.82. The S&P 500... Read More

Oil price jump linked to Saudi Arabian attacks sparks energy stock rally

Oil price jump linked to Saudi Arabian attacks sparks energy stock rally
CALGARY — Long-suffering Canadian energy company stocks were on track to post their best day in nearly three years after an attack on Saudi Arabian oil facilities on the weekend sent oil prices soaring. The index that tracks energy company share prices on the Toronto Stock Exchange was up as much as 11 per cent just before noon Monday, led by... Read More

Toronto stock market rallies to seven-week high despite drop in crude oil prices

Toronto stock market rallies to seven-week high despite drop in crude oil prices
TORONTO — Canada’s main stock index rallied to its highest level in seven weeks Wednesday despite crude oil prices getting hammered. Investors are slowly “nibbling” back into the market on hopes of progress in trade issues, says Colin Cieszynski, chief market strategist at SIA Wealth Management. “I think they’re getting a feeling that some of the worst risks related to trade wars... Read More

Global demand for oil appears to have slowed according to latest OPEC estimate

Global demand for oil appears to have slowed according to latest OPEC estimate
CALGARY — The Organization of Petroleum Exporting Countries says global demand for crude oil appears to be weakening in many parts of the world, including Europe, China and the United States OPEC says total world demand for crude will grow by an estimated 1.02 per cent in 2019 over last year and 1.08 per cent in 2020 compared with this year,... Read More

Energy, materials and financials lift index in Toronto; U.S. markets also up

Energy, materials and financials lift index in Toronto; U.S. markets also up
TORONTO — The key energy, materials and financial sectors helped lift Canada’s main stock index higher in late-morning trading while U.S. stock markets also gained ground. The S&P/TSX composite index was up 53.45 points at 16,590.79. In New York, the Dow Jones industrial average was up 66.01 points at 26,975.44. The S&P 500 index was up 7.85 points at 2,987.24,... Read More