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Canada’s oilsands have been battered badly by low oil prices, adverse government policies and transportation constraints, but production is continuing and growth looks unstoppable until the end from the decade, based on two new reports. Cut costs, borrow cash or liquidate: Saudis deliver harsh message with other oil producers Saudi oil minister Ali Al-Naimi issued a stark warning to global ...

Husky Energy Inc, Canada’s No. 3 integrated oil company, posted a smaller-than-expected quarterly loss as cost cuts help cushion the impact from slumping crude oil prices. The company posted a loss of revenue of $69 million, or 9 cents per share, for the fourth quarter, compared with a loss of revenue of $603 million, or 65 cents per share, last ...

SHANGHAI — The Organisation for Economic Cooperation and Development (OECD) called on Friday around the world’s 20 biggest economies to step up the slowing pace of reforms to enhance economic growth amid sluggish trade and weak investment. ‘Flashing warning signs’: Canadian markets bracing for ‘dramatic’ Bank of Canada action – and a recession Recent moves in Canadian financial markets claim ...

AURORA, Ont. – Magna International Inc. (TSX:MG) says the strong American dollar had a significant negative impact on its fourth-quarter revenue, which is reported in U.S. currency. The Canadian autoparts giant based in Aurora, Ont., says its sales during the last three months of 2015 were $8.6 billion, down three percent from $8.8 billion last year. It says that included ...

TORONTO – The OMERS pension fund is reporting a 6.7 percent net return last year around the investments it manages for municipal along with other public-sector workers across Ontario. OMERS says its assets grew by $5 billion last year after expenses to around $77 billion, with 52 percent in public investments and 48 percent in private investments. Returns for its ...

Peak-oil theorists – they’re those who predicted $300-a-barrel oil, because new discoveries wouldn’t materialize – were fundamentally immediately after all. So they say. How Trudeau helps the Saudis’ scheme to sideline Canadian oil Allan Richarz: By tightening the screws on domestic production while seeing a rise in Saudi-originating imports, we are helping accelerate our own energy sector’s decline. Read on ...

HOUSTON – Prices for mansions in Houston’s swankiest neighbourhood have tumbled in lock step with crude prices. The Houston Opera has offered free season tickets to patrons who lost their jobs in the oil bust. An expensive restaurant offers cut-price dinners. There’s somewhere OPEC can’t broker an oil deal: The fracking heartland of Texas Saudi Arabia and Russia took the ...

Nearly 4 years after the auditor general found serious too little the way the federal government supports the aerospace sector, important questions remain unanswered as Ottawa weighs Bombardier’s request another US$1 billion in support. Bombardier's biggest CSeries customer, Republic Airways, files for bankruptcy protection Republic Airways asserted it’s filed for Chapter 11 bankruptcy protection, citing a nationwide pilot shortage which ...