Athabasca Oil chopping 25% of head office staff

The sector is still a long ways away from permanent solutions, says company president Robert Broen

Athabasca Oil chopping 25% of head office staffAthabasca Oil Corp. announced on Tuesday that it has undertaken a number of actions to enhance its competitiveness and resiliency. It has introduced a streamlined corporate cost structure that consists of a 25 per cent reduction in head office staff effective immediately and 10 per cent rollback in salaries for executives and directors. The company did…

Canadian crude oil production on the rise in September

StatsCan said Alberta produced 17.4 million cubic metres of crude oil and equivalent products in the month

Canadian crude oil production on the rise in SeptemberCanadian production of crude oil and equivalent products totalled 21.1 million cubic metres (132.6 million barrels) in September, up 5.7 per cent compared with the same month in 2017, says Statistics Canada. Non-upgraded production of crude bitumen surpassed 9.0 million cubic metres for the third consecutive month, to reach 9.3 million cubic metres (+15.0 per…

Canadian propane production expected to climb

A new report says the industry is expected to support close to 21,000 jobs annually across the country

Canadian propane production expected to climbPropane production in Canada is expected to increase by more than 20 per cent over the next seven years, according to a new report released on Friday by the Conference Board of Canada. The report, Fuelled Up: An Updated Overview and Outlook of Canada's Propane Market and Industry, said the industry accounted for $3.5 billion…

Oil production cut to take 2.2% out of Alberta’s GDP in 2019

The move is also bound to have implications for Canada’s economy: Conference Board of Canada

Oil production cut to take 2.2% out of Alberta’s GDP in 2019The Alberta government’s unprecedented move to cut back oil production in the province starting next year is “a desperate measure to alleviate bottlenecks and bolster prices,” says a commentary by the Conference Board of Canada. “Whether there’s a payoff will be hard to determine and will depend on whose opinion you ask on this complex…

Capital expenditures in Canadian oil patch plunge 58% from 2014

ATB report blames the decline on the completion of major projects and the dramatic oil price differential

Capital expenditures in Canadian oil patch plunge 58% from 2014The news from the oil patch continues to raise concerns across Alberta and Canada. The latest is the revelation that capital expenditure in the oil patch, a driving force of the national and provincial economies, is falling again. ATB Financial’s Economics & Research Team on Thursday released data from Statistics Canada indicating that there were “whispers…

Enbridge selling its New Brunswick business for $331 million

Enbridge Gas New Brunswick operates and maintains more than 1,200 km of natural gas distribution pipeline

Enbridge selling its New Brunswick business for $331 millionEnbridge Inc. is selling its Enbridge Gas New Brunswick business to Liberty Utilities (Canada) LP, a wholly-owned subsidiary of Algonquin Power and Utilities Corp., for a cash purchase price of $331 million. Enbridge said closing of the deal is subject to the receipt of regulatory approvals and other customary closing conditions expected in 2019. “This…

Alberta cuts oil production in face of price differential

‘Every Albertan owns the energy resources in the ground and we have a duty to defend those resources,’ says Premier Notley

Alberta cuts oil production in face of price differentialAlberta Premier Rachel Notley announced on Sunday that the province is mandating a short-term reduction in oil production in response to the historically high oil price differential. The provincial government says that differential is costing the national economy more than $80 million a day. Production of raw crude oil and bitumen will be reduced by…

Building a good corporate culture starts at the top

Organizational psychologist Laura Hambley talks about how to make workplaces and people more productive and engaged

Building a good corporate culture starts at the topLaura Hambley is an organizational psychologist based in Calgary. She is president and co-founder of Work EvOHlution, founder of Canada Career Counselling and president/founder of the Leadership Success Group. What is Work EvOHlution and what does it do? Hambley: Work EvOHlution helps leaders, teams and individuals thrive when working apart. We are a team of…

Majority of small business owners have no succession plan

CFIB says government policy changes are needed to ease the transition burden for businesses

Majority of small business owners have no succession planOver $1.5 trillion in business assets will be in play over the next decade as 72 per cent of small business owners intend to exit their business, according to a new survey released on Wednesday by the Canadian Federation of Independent Business. “Successful business sales or transfers can save or even create jobs, keep local…

Canada Post records $94-million loss in third quarter

Loss mainly due to the cost of implementing pay equity ruling

Canada Post records $94-million loss in third quarterCanada Post recorded a loss before tax of $94 million for the third quarter of 2018, mainly due to the costs of implementing the final pay equity ruling. The ruling will adjust how much delivery employees in suburban and rural Canada (RSMC) are paid, said the corporation in a news release issued on Tuesday. “If…