Crude oil tumbles on report that OPEC plus could hike production
Crude oil prices slumped to a 10-month low Monday morning before rebounding at midday, adding to the volatility that has dogged the Canadian energy sector recently.
The benchmark West Texas Intermediate plunged by as much as US$5 in the early part of the day, trading as low as US$75 in reaction to a Wall Street Journal report saying Saudi Arabia and other OPEC-plus countries may increase oil output by up to 500,000 barrels per day at their Dec. 4 meeting.
Shawcor sells oilfield asset management business in deal worth at least $15M
On Nov. 18, Shawcor Ltd. announced that it has sold its oilfield asset management (OAM) operating unit to Force Inspection Services Inc., in a transaction generating at least C$15 million in gross proceeds.
Climate compensation fund approved, other issues up in air
SHARM EL-SHEIKH, Egypt (AP) — Negotiators early Sunday approved a historic deal that would create a fund for compensating poor nations that are victims of extreme weather worsened by rich countries’ carbon pollution, but an overall larger agreement still was up in the air because of a fight over emission reduction efforts.
After that vote, talks on other aspects of the negotiations were put on hold while delegates were given 30 minutes to read texts of other measures they were to vote on.
Last minute objections threaten historic UN climate deal
By Seth Borenstein, Samy Magdy And Frank Jordans in Sharm El-sheikh SHARM EL-SHEIKH, Egypt (AP) — A last minute fight over emissions cutting and the overall climate change goal is delaying a potentially historic deal that would create a fund for compensating...
Feds announce another $1.2 billion for ocean cleanup and protection
The federal government has announced an investment of another $1.2 billion in its Ocean Protection Plan for 29 projects involving ocean safety, science and environmental safeguards.
Federal Transport Minister Omar Alghabra made the announcement on the waterfront in Vancouver’s Stanley Park, saying the government is building on six years of work together with Indigenous Peoples and other coastal communities.
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