Business

Petroleum Services Association of Canada lowers 2020 drilling forecast (again)

CALGARY - The Petroleum Services Association of Canada is cutting its 2020 Canadian drilling forecast for a third time as the industry remains mired in a slump expected to extend well into the second ...

Jul 29, 2020

Enbridge Q2 earnings slip as revenues plunge 40% due to COVID aftermath

CALGARY- Enbridge is reporting that its net income slipped to $1.65 billion in the second quarter on a 40% drop in revenues due to lower crude oil prices caused by the COVID-19 pandemic and OPEC price...

Jul 29, 2020

Lower livestock prices expected for the rest of 2020 says FCC expert

REGINA- A Farm Credit Canada expert is predicting lower than average cattle prices for the rest of this year.A report by James Bryan says prices for a 550-pound steer will be around $219 per hundredwe...

Jul 28, 2020

Deutsche Bank says it won’t back any new oilsands or coal projects

CALGARY- Frankfurt-based Deutsche Bank is joining a lengthening list of European lenders and insurance companies that say they won't back new oilsands projects.The German bank says its new fossil fuel...

Jul 28, 2020

More homes selling locally but prices still trail last year

The local real estate market continues to rebound but remains still trails where it was at this time a year ago.According to the latest figures from Central Alberta Realtors Association (CARA), there ...

Jul 27, 2020

Vermilion loses $71.3 million in Q2 on 55% drop in revenues

CALGARY- There's more bleak news out of the oilpatch this morning.Vermilion Energy is reporting a net loss of $71.3 million in its second quarter on a 55% decrease in sales from a year earlier due mai...

Jul 27, 2020

Market Watch: July 24

Big Picture Market Optimism Derailed Thursday as U.S. Jobless Claims Rise U.S. stocks climbed Monday, fueled by a rally in tech stocks and promising news on two coronavirus vaccines progressing toward...

Jul 24, 2020

Suncor reports Q2 loss of $614M

CALGARY- Suncor Energy is reporting a second-quarter net loss of $614 million after it cut back on production to deal with sharply reduced crude prices amid lower global energy demand.The loss, which ...

Jul 23, 2020

Precision Drilling Q2 loss surges as pandemic weakens demand for oil

CALGARY- Precision Drilling Corp. says its second-quarter loss surged while revenues plummeted as the COVID-19 pandemic caused demand and prices for oil to dwindle.The drilling company says it lost $4...

Jul 23, 2020

Province announces strategic programs to create jobs and attract investment to tech sector

EDMONTON, AB- Alberta's government is introducing the Innovation Employment Grant (IEG).This program is going to promote economic growth and job creation by supporting small and medium-sized businesse...

Jul 22, 2020