After a six-week rally that saw crude push to the US$40 market, prices took a sharp turn Tuesday on rising U.S. inventories that implies markets have not yet designed a full recovery. “It’s not really an upright line up, there is going to be lots of resets before we move structurally higher at the tail end of the year,” said ...

CALGARY C Vowing to not sit back and “do nothing” because the province struggles via a prolonged recession, the Alberta government is preparing to intervene more directly in the downstream end of the energy industry and the petrochemical industry. Ultimatum to Trudeau: Petronas threatens to abandon $36B LNG project over climate rules Petronas is frustrated that Trudeau’s climate-change priorities are ...

New Millennium Iron Corp. is involved in one of the messiest proxy fights the junior mining sector has witnessed in a while. A dissident group wants the organization to “dramatically” cut expenses to preserve capital, including compensation. It’s looking to seize control over the board. If the two sides fail to reach funds, chief executive Robert Patzelt said he is ...

Canadian securities regulators are going to demonstrate commendable restraint in the exercise of the “public interest” jurisdiction to pre-empt the work of unconflicted boards of directors responding to unsolicited takeovers. The brand new proposal would allow boards facing hostile bids as much as 105 days before regulators intervene with measures that may curtail a board’s discretion, namely cease-trading “poison pill” ...

MONTREAL – The Montreal Economic Institute, a think-tank often seen as promoting free-market views that have historically languished around the fringe inside a province with a half-century of big governments and robust unions, is creating a push for the mainstream. On Wednesday, the organization announced that former Conservative finance minister Joe Oliver is joining its ranks like a “Distinguished Senior ...

The Bank of Canada said Wednesday that some of the pressures facing the country’s economy have eased this season as it left its benchmark interest rate unchanged Wednesday. Bank of Canada holds key rate of interest because it waits on Ottawa’s fiscal boost The central bank takes a wait-and-see approach to the brand new federal government’s plans for multi-billion-dollar spending. ...

OTTAWA – With regards to monetary policy, it’s not always about who says what – nor even really the things they say. It’s much more about the way they express it and to whom. Case in point: Mark Carney’s comments to the U.K.’s treasury committee Tuesday. The head from the Bank of England, and former governor of Canada’s central bank, ruffled lawmakers’ ...

CALGARY – Crescent Point Energy Corp., the largest oil producer in Saskatchewan, cut its dividend and pared back its spending plans Wednesday because it took a $589 million charge caused by the collapse in oil prices. The company took the impairment charge on its assets because of the plunge in oil prices and bleak forecasts for future prices. The charge pushed ...