TSX:CNQ - Toronto Stock Exchange - CA1363851017 - Common Stock - Currency: CAD
Chevron Corp. agreed to sell its stakes in oil sands and shale assets to Canadian Natural Resources Ltd. for $6.5 billion.
New out-of-control wildfires have erupted across Alberta since late Tuesday, with blazes potentially threatening more than 400,000 barrels a day of oil production.
Canadian oil-sands output will increase by about half a million barrels a day by 2030, more than previously forecast, as stronger prices encourage companies to expand existing projects, according to S&P Global Commodity Insights.
High short interest fuels rallies in these blue chip stocks that analysts support. Upward price target revisions suggest a double-digit upside for them.
Canadian oil-sands producers including Canadian Natural Resources Ltd. and Cenovus Energy Inc. are rushing to expand production to fill the biggest new pipeline project in more than a decade.
Some of the largest oil producers in Canada are objecting to potentially rising costs and fees to ship their crude on the expanded Trans Mountain pipeline, underscoring growing disappointment with the highly anticipated project.
Canadian Natural Resources (CNQ) on Wednesday said the Toronto Stock Exchange accepted notice filed by the company of its intention to make a Normal Course Issuer Bid.
Canada’s oil-sands industry is examining how many workers it will need to build the carbon capture system that’s key to its emissions-reductions pledges, and leaders already are warning that scarce skilled labor may hinder projects.
A flurry of outages across western Canada’s oil patch have disrupted petroleum flows to the US and global markets.