Canadian heavy oil prices fell below US$30 for the first time in more than six years as Bank of Montreal warned that oilsands producers must cut costs. 585 more words
Tags » Canadian Oil Sands
Fourth-quarter reporting season in the Calgary oilpatch is expected to begin with an attack on investors’ wallets next Thursday.
At least three financial analysts are predicting Canadian Oil Sands Ltd., the largest investor in the Syncrude Canada oilsands consortium and the first large capitalization energy company out of the gate, will “substantially” chop its dividend or possibly eliminate it altogether as deeply discounted oil prices chip away at its predicted cash flow. 673 more words
Alexander Panetta, The Canadian Press December 9th 2014, The Star.com
WASHINGTON—In the Monday night episode of “The Colbert Report,” the joke was on Canada’s oil industry. 479 more words
Canadian oil producers’ ability to lure investors with generous dividends is being tested as cash flow is squeezed by crude trading near five-year lows.
Companies will have to choose between reducing capital spending or payments to shareholders, said Sprott Asset Management LP’s Eric Nuttall. 712 more words