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Pembina to buy Kinder Morgan’s oil assets for $3.3 billion

Pembina to buy Kinder Morgan’s oil assets for $3.3 billion

Pembina Pipeline Corp. increased its bet on the future of Canada’s turbulent oil-sands industry. Pembina Pipeline Corporation announced that its Board of Directors declared a common share cash dividend. Company announced its financial and operating results for the second quarter of 2019. The dividends are designated “eligible dividends” for Canadian income tax purposes. Company also...

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Alberta’s oil limits finally seem to be working

Alberta’s oil limits finally seem to be working

Alberta’s oil production curbs finally appear to be draining inventories, at least for now. The Alberta government’s move to cut corporate taxes from 12 to eight per cent. Alberta premier Jason Kenney offered his thoughts on the differing views between him and B.C. premier. Canada’s largest oil producers are calling on the Alberta government to...

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Husky ends hostile MEG bid after lack of investor support

Husky ends hostile MEG bid after lack of investor support

Husky Energy Inc. blamed a combination of pipeline problems and an Alberta government-mandated oil production curtailment for its failed hostile takeover bid of MEG Energy Corp. The Calgary-based company opted not to extend the deadline and instead plans to proceed with the potential divestment. MEG’s shares plummeted 36 percent in Toronto, while Husky stock jumped 12...

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Husky Energy has reduced 2019 budget, production

Husky Energy has reduced 2019 budget, production

Husky Energy is cutting its 2019 capital expenditure budget to $3.4 billion including reduced spending in heavy oil and resource plays in Western Canada. Husky Energy plans to spend approximately $3.4 billion on its capital expenditure program in 2019 as it continues to invest in a deep portfolio of higher-margin, longer-life projects. That is about...