By Alastair Sharp. TORONTO (Reuters) - Canada's main stock index edged lower on Wednesday, with gains from some big energy producers offset by dips in heavyweight banks and a pullback in Valeant Pharmaceuticals International Inc (VRX.
Crescent Point Energy Corp. is buying privately held oil and gas producer CanEra Energy Corp. for about $750-million in cash and stock to expand its position in a Saskatchewan oil formation that is seen as a potentially large new source of supply.
While media outlets across Canada are clamouring to warn drivers that gas prices are about to hit record highs, most are forgetting one detail: Gas prices are actually stabilizing, fluctuating less and are nowhere near their record highs.
By Jeff Lacroix-Wilson. Ottawa Citizen. OTTAWA - Transport Canada has announced new regulations tightening safety on Canada's railways, beginning with ordering the 5,000 most dangerous tanker cars off the rails.
The CNOOC executive who helped broker the deal that gave the Chinese state-owned oil giant a firm foothold in Canada's oil sands sector will become the head of the company's Calgary-based subsidiary, Nexen Energy ULC.