Canada Stocks Rise as Oil Lifts Energy Producers; Research In Motion Gains Aug 19, 2009
the oil-sands producer that bought Petro-Canada, added 1. 5 percent as oil gained after an increase in German investor confidence. (Bloomberg -- Canada)
Bank of America Hires RBC's Brad Cameron for Canadian Mergers Business Aug 19, 2009
Cameron advised Petro-Canada on its sale this year to Suncor Energy Inc., the biggest oil deal in Canadian history, and is working with Addax Petroleum Corp. on its $7. 2 billion sale to China Petrochemical Corp., also known as Sinopec Group. (Bloomberg -- Canada)
Boardwalk REIT Announces Solid Second Quarter Financial Results; FFO Per Unit up 16.7% and DI Per Unit up 14.8% YOY; and Maintains Monthly Per Unit Distributions for August, September and October 2009 Aug 14, 2009
5 billion merger in the second quarter, Petro-Canada and Suncor will become the largest energy provider in Canada and the fifth-largest in North America, although layoffs have begun on both sides as the companies streamline operations. Shell Oil is also expected to complete the expansion of the Athabasca Oil Sands Project between 2010 and 2011. (PR Newswire)
Atticus Capital Plows Billions into Stocks Aug 13, 2009
It bought $210 million of Petro-Canada, which was merged into Suncor Energy Aug. 3. The fund snapped up $209 million of reinsurer Transatlantic Holdings and $205 million of drug maker Schering-Plough. (Newsmax)
Barakett's Atticus Hedge Fund Gets Back Into U.S. Stocks With $3.5 Billion Aug 11, 2009
Atticus purchased $210 million in Calgary-based Petro-Canada, the oil and gas company whose acquisition by. also of Calgary, was completed Aug. 3. (Bloomberg -- US)
Suncor, Petro-Canada complete merger Aug 11, 2009
Suncor announced in March it would buy Petro-Canada in a deal valued at $14 ... Petro-Canada (formerly NYSE: PCZ) also has Colorado operations ... Its unit Petro-Canada Resources (USA) Inc. was based in Denver. (Denver Business Journal, CO)
Petro-Canada Short Gasoline at Over 50 Outlets in Alberta, Sends Rail Cars Aug 6, 2009
Petro-Canada Short Gasoline at Over 50 Outlets, Sends Rail Cars - Bloomberg ... Petro-Canada Short Gasoline at Over 50 Outlets, Sends Rail Cars ... Aug. 5 (Bloomberg) -- Petro-Canada dispatched rail cars from Montreal after a storm-related power outage July 18 shut units at its refinery near Edmonton, Alberta, causing a shortage of the fuel at more than 50 of the companys filling stations. (Bloomberg -- Canada)
Suncor Energy Completes Petro-Canada Purchase; Shares to Trade on Aug. 7 Aug 4, 2009
Suncor Energy Completes Acquisition of Petro-Canada (Update1) - Bloomberg ... Suncor Energy Completes Acquisition of Petro-Canada (Update1). (Bloomberg -- Canada)
Petro-Canada Profit Plunges 95%, Missing Estimates, on Lower Energy Prices Jul 31, 2009
Petro-Canada Profit Drops 95% as Energy Prices Fall (Update3) - Bloomberg ... Petro-Canada Profit Drops 95% as Energy Prices Fall (Update3) ... Petro-Canada had a C$239 million loss in its North American gas business and a C$188 million loss from oil sands. (Bloomberg -- Canada)
Component Changes Made to Several Dow Jones Sector Titans, Select Dividend, Islamic Market and Specialty Indexes Jul 30, 2009
NEW YORK, July 29, 2009 (GLOBE NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today announced that Petro-Canada (Canada, Oil & Gas, PCA.T) will be removed from the Dow Jones Canada Titans 60, Dow Jones Oil & Gas Titans 30, Dow Jones Canada Select Dividend, Dow Jones Summer/Winter Games and Dow Jones Islamic Market International Titans 100 indexes. In the Dow Jones Canada Titans 60 Index, Petro-Canada (Canada, Oil & Gas, PCA.T) will be replaced by Crescent Point Energy... (Primezone Releases)
Canada Stocks Post Weekly Gain as Banks, Mining Companies Rally on Economy Jul 25, 2009
the oil-sands producer thats buying Petro-Canada, dropped 3. 2 percent to C$35. (Bloomberg -- Canada)
Drink In These 5 Top Stocks Jul 25, 2009
In addition, Suncor's acquisition of Petro-Canada (NYSE: PCZ) was approved by Canada's Competition Bureau, making it the largest energy producer north of the border come Aug. 1, when the deal is consummated. With the price of oil rising again, this bodes well for the oil-sands developer. (MSNBC -- Business)
Suncor Posts Third Quarterly Loss on Lower Oil Prices, Oil Sands Costs Jul 23, 2009
July 22 (Bloomberg) -- , the Canadian oil-sands producer thats buying Petro-Canada, posted its third straight quarterly loss after crude prices plunged. The second-quarter net loss was C$51 million ($46 million), or 6 cents a share, compared with profit of C$829 million, or 89 cents, a year earlier, Calgary-based Suncor said today in a statement. (Bloomberg -- Canada)
Teck Reports Second Quarter Results for 2009 Jul 23, 2009
The timing of a final investment decision on the Fort Hills oil sands project remains uncertain, pending both improvements in commodity prices and financial markets and completion of the merger of Petro-Canada, 60% owner of the project, and Suncor. Spending on the project has been significantly reduced and the workforce downsized to reflect the lower level of activity. (CCNMatthews Press Releases)
Govt OK to Canadian oil giants US$38bil merger Jul 22, 2009
CALGARY, Alberta: The government's Competition Bureau on Tuesday approved the merger of Suncor Energy Inc. and Petro-Canada that will create Canada's largest energy producer once the deal is completed ... Suncor and Petro-Canada, two of Canada's largest oil and gas producers, announced their merger plans in March ... After the merger, Suncor plans to sell gasoline under the iconic Petro-Canada brand. (The Star Online, Malaysia -- Business)
Suncor Energy releases second quarter 2009 results Jul 22, 2009
On March 23, 2009, Suncor and Petro-Canada (TSX:PCA) (NYSE:) announced that they have agreed to merge the two companies. The merger has received shareholder, court and Competition Bureau approval and with all the conditions necessary to complete the transaction satisfied, Suncor and Petro-Canada intend to make the merger effective August 1, 2009 ... The combined entity will operate corporately and trade under the Suncor name while maintaining the strong brand presence and customer loyalty of... (PR Newswire)
Canadian Stocks Complete Weekly Decline as Potash Corp., Suncor Retreat Jul 11, 2009
Petro-Canada, the nations second-largest oil refiner, slipped 1. 4 percent to C$39. (Bloomberg -- Canada)
Canadian Mergers May Hit $85 Billion This Year, RBC Capital's Buzzi Says Jul 10, 2009
RBC Capital Markets, the investment-banking unit of , the countrys largest lender, advised Petro-Canada and Geneva-based Addax. The International Monetary Fund said yesterday that Canadas economy will shrink 2. (Bloomberg -- Canada)
Teck helps lead TSX higher in quiet session Jul 4, 2009
Petro-Canada was down 0. 48 percent at C 41. (Yahoo News -- Press Releases)
Canada Stocks Rise for Fifth Day as Suncor, Equinox Gain With Commodities Jun 30, 2009
Suncor, the oil producer thats buying Petro-Canada to create Canadas largest energy company, gained 1. 5 percent to C$35. (Bloomberg -- Canada)
Newfoundland, Exxon Reach Agreement on Hibernia South Offshore Oil Project Jun 17, 2009
June 16 (Bloomberg) -- and partners such as and Petro-Canada agreed to pay record royalty rates and sell a stake in an offshore oil field to the Newfoundland government to end a two-year dispute over expanding the project ... In addition to and Petro-Canada, partners in Hibernia include Murphy Oil Corp., StatoilHydro ASA and Canada Hibernia Holding Corp.. (Bloomberg -- Canada)
Canada Stocks Cap Weekly Gain as Suncor, Royal Bank Rally; RIM Shares Rise Jun 6, 2009
the worlds second-largest oil-sands producer and Petro-Canada, the nations second-largest oil refiner, extended their advance after shareholders approved Suncors acquisition of its rival ... 47 and Petro-Canada gained 2. (Bloomberg -- Canada)
Canada Stocks Climb on Suncor Acquisition Approval, Interest Rate Decision Jun 5, 2009
We had a good day in energy today, and in Canada we had the Petro-Canada vote ... 2 billion all- stock acquisition of Petro-Canada, the nations second-largest oil refiner, was approved ... Petro-Canada gained 4. (Bloomberg -- Canada)
Canadian Oil Giants Closer to Completing Takeover Jun 5, 2009
Shareholders of oil giant Petro-Canada vote in favor of takeover by Suncor Energy ... Shareholders of Petro-Canada and Suncor Energy Inc. voted Thursday to approve a combination of two of the country's largest oil and gas producers to become Canada's largest energy producer ... Petro-Canada shareholders voted about 96 percent in favor of the $19 billion Canadian-dollar deal ($17 billion) with Suncor. (ABC News -- Wire)
Suncor's Takeover of Petro-Canada Is Approved by Holders of Both Companies Jun 5, 2009
Suncor Takeover of Petro-Canada Approved by Holders of Both - Bloomberg ... Suncor Takeover of Petro-Canada Approved by Holders of Both ... 28 Suncor shares for each Petro-Canada share was approved today at a Suncor shareholders meeting in Calgary. (Bloomberg -- Canada)
Canadian Stocks Decline on Valuation Concerns as Suncor, Goldcorp Retreat Jun 4, 2009
74 and Petro-Canada, the nations second-largest oil refiner, declined 5 percent to C$45 as crude declined the most in six weeks, after a U.S. government report showed a gain in inventories last week. Gas Slides. (Bloomberg -- Canada)
Syncrude Blast Injures Four Workers; Alberta Oil-Sands Output Not Affected Jun 3, 2009
Syncrude is owned by a group that includes Imperial Oil Ltd., Petro-Canada, ConocoPhillips, Murphy Oil Corp., Nexen Inc. and Japans Mocal Energy Ltd. Canadian Oil Sands Trust is the lead owner of the venture and Imperial, which is 70 percent- owned by Exxon Mobil Corp., manages the plant, which extracts tar-like bitumen from sand and upgrades it to synthetic crude oil. To contact the reporter on this story: in Calgary at. (Bloomberg -- Canada)
Canada Stocks Fall From Eight-Month High as Suncor, Petro-Canada Decline Jun 3, 2009
the worlds second-largest oil-sands producer, and Petro-Canada, the nations second-largest oil refiner, fell at least 5 percent ... 93 and Petro-Canada declined C$2. (Bloomberg -- Canada)
Setting the `Hot' Stage for the 40th WorldSkills Competition May 28, 2009
- Network backbone design created by Cisco Certified Internetwork Experts from MTS Allstream - Comparable in size to Petro Canada and TransCanada Pipeline building networks in Calgary, AB, Canada - Procurement, design, testing, logistics & staging will all be completed in 6 month time frame; projects of similar scope are completed in 2 years - 8 terabytes memory; equivalent to 8000 trucks full of books - Over 43 km's of CAT 6 cable supplied from Draka International - 98 fiber locations with... (PR Newswire)
CIBC Announces Second Quarter 2009 Results May 28, 2009
3 billion public offering, of ING Group's sale of its entire 70% stake in ING Canada; - CIBC is acting as a financial advisor to Suncor Energy Inc. on its proposed $59 billion merger with Petro Canada; - CIBC's covered bond program was awarded "Securitization Deal of the Year" by leading finance law magazine, International Finance Law Review. The program was recognized as the most innovative and creative of all securitization deals done across the Americas in 2008; - CIBC acted as sole... (Canada Newswire)
Canada Stocks Cap Weekly Gain on Commodity Rally; Potash Rises on Upgrade May 23, 2009
Petro-Canada increased 2 ... Petro-Canada added C$1. (Bloomberg -- Canada)
Canadian Stocks Decline on U.S. Jobless Claims, Led by Suncor, Scotiabank May 22, 2009
7 percent as energy shares in the S&P/TSX. Petro-Canada fell 3. 9 percent to C$43. (Bloomberg -- Canada)
Investment firm pans Petro-Canada Suncor merger May 17, 2009
CALGARY The Suncor-Petro-Canada merger amounts to a giveaway of billions by Petro-Canada shareholders, a Montreal investment firm alleges in the first major public criticism of the proposed deal. Letko Brosseau & Associates detailed a number reasons Friday why it believes Petro-Canada is unfairly valued in the merger, which would see Petrocan shareholders receive 40 per cent of the company ... The firm also noted that Petrocan produced 418,000 barrels per day, far more than Suncor's 264,700... (Globe and Mail -- Business)
Sentry Select Capital Inc. Announces Exchange Ratios for Sentry Select Canadian Income Exchange Fund May 16, 2009
2184 ---------------------------------------------------------------------------- Petro-Canada PCA 43. 2830 4. (CCNMatthews Press Releases)
Mergers and acquisitions: Buying on the dips May 13, 2009
Two oil companies, Suncor and Petro-Canada, combined to create Canada s second-largest firm by market value. RWE, a Germany utility, swooped on Holland s Essent. (The Economist)
SportsClick Inc. Closes Southprint Acquisition May 13, 2009
Its distribution network includes both independent and leading retailers including Ultramar and Petro-Canada convenience Stores, Husky Markets, Loblaws, London Drugs and Calgary Co-Op stores. The company is committed to expansion through strategic acquisitions of leading businesses in the specialty apparel and promotional merchandising sectors. (CCNMatthews Press Releases)
CNQ calls for cost co-ordination in oil patch May 9, 2009
Promising signs have emerged in the past few weeks, with Petro-Canada, Royal Dutch Shell PLC, Husky Energy Inc. and Suncor Energy Inc. all announcing steeply lowered cost estimates. The problem is how to keep those gains from being illusory. (Globe and Mail -- Business)
Canadian gas stations in decline: survey May 8, 2009
8 per cent of gasoline stations in Canada are price-controlled by one of the three major oil companies Petro-Canada, Imperial Oil Ltd. and Royal Dutch Shell PLC while the majority of gas stations are price-controlled by dealers or companies who are not involved in the refining of petroleum products. (). (Globe and Mail -- Business)
Falling costs revive oil sands May 5, 2009
Petro-Canada PCA-T has crunched new numbers for its proposed Fort Hills oil sands mine, and came up with a drop of more than 30 per cent - from more than $14-billion to under $10-billion ... " At Suncor, which is merging with Petro-Canada, the push on costs started 18 months ago, just before the height of the boom. The company sat its employees down in meetings to figure out ways to chip out efficiencies. It smoothed out roads so that mining trucks could travel at more constant speeds. Its... (Globe and Mail -- Business)
Spring rally gathers steam May 5, 2009
Petro-Canada advanced $1. 27 (Canadian) a share to $41 while EnCana Corp. improved $2. (Globe and Mail)
Canadian markets touch 10,000 pts May 5, 2009
While energy leader Petro-Canada was up $1. 27 to $41, EnCana Corp too rose $2. (India Times)
Another big thinker, but don't compare him to Trudeau May 1, 2009
" Mr. Ignatieff also enters the leadership with significantly more conservative views than did Mr. Trudeau 41 years ago, says Mr. Clarkson. On the matter of state economic intervention, Mr. Ignatieff has called himself a "Roosevelt Liberal" in reference to the former U.S. president who led the country through the Depression. He has not, however, given any indication that he would radically intervene, as Mr. Trudeau did in the early 1980s, when the Liberals created the Foreign Investment Review... (Globe and Mail -- Business)
CEOs express cautious optimism Apr 29, 2009
Reliable business operations, prudent financial oversight and our cash flow generation capability are helping us weather the downturn, Petro-Canada CEO Ron Brenneman said. The North American region isn't quite on a recovery track yet, and the support will come from emerging markets. (Globe and Mail -- Business)
Canada's Dollar Little Changed as Jump in Confidence Eases Risk Aversion Apr 29, 2009
Petro-Canada, the Calgary-based oil company, posted a first- quarter loss after crude prices plunged and an oil-sands project was deferred. Crude and other energy products accounted for about a quarter of Canadas export revenue last year. (Bloomberg -- Canada)
Petro-Canada Reports Quarterly Loss on Lower Oil, Charges From Fort Hills Apr 29, 2009
Petro-Canada Posts C$47 Million Loss After Oil Drops (Update5) - Bloomberg ... Petro-Canada Posts C$47 Million Loss After Oil Drops (Update5) ... The bottom-line numbers missed the street, said a Genuity Capital Markets analyst in Calgary who rates Petro-Canada shares buy and owns none. (Bloomberg -- Canada)
Petro-Canada reports earnings, Tuesday Apr 28, 2009
Petro-Canada reports. Analysts expect first-quarter share profit of 53 cents, down from $1. (Globe and Mail -- Business)
Petro-Canada loses $47-million Apr 28, 2009
CALGARY Petro-Canada said Tuesday it fell to a loss in the first quarter of 2009 due to mark-to-market valuations and foreign currency losses on the company's long-term debt ... Petro-Canada said quarterly operating earnings tumbled 88 per cent to $111-million from year-earlier levels of $899-million ... Petro-Canada said upstream production was in line with expectations for the quarter at 410,000 barrels of oil equivalent per day. (Globe and Mail -- Business)
Enerplus puts Kirby project on hold Apr 18, 2009
A number of oil sands projects have been put on hold recently, including the Fort Hills development, a joint venture between Petro-Canada, UTS Energy Corp. and Teck Cominco Ltd.. Last fall, a decision to go ahead with that project's mining portion was pushed into later this year and its accompanying upgrader was shelved indefinitely. (Globe and Mail)
Suncor Energy to release first quarter 2009 financial results Apr 17, 2009
As announced on April 2, Suncor's annual meeting has been rescheduled and combined with a special meeting to consider the amalgamation by way of an arrangement of Suncor and Petro-Canada. This annual and special meeting of Suncor shareholders will be held at 1:00 p.m. (MDT) on Thursday, June 4, 2009 in the Wildrose Ballroom at the Sheraton Suites Eau Claire at 255 Barclay Parade S.W., Calgary, Alberta. (PR Newswire)
UTS rejects sweetened Total bid Apr 17, 2009
It said the offer was still less than the value of its cash on hand and the money Petro-Canada and Teck Cominco Ltd., its partners in the planned Fort Hills oil sands project, must pony up to pay for its share of the project's initial construction costs. The company said the bid also fails to give any value for UTS's other undeveloped oil sands properties, or rising oil prices. (Globe and Mail -- Business)
Petro-Canada laying off 200 in oil sands Apr 16, 2009
About 200 Petro-Canada workers across Alberta are being laid off, the latest victims of faltering energy prices that have crippled development in the once booming oil ands industry ... Petro-Canada is not the only major energy company that has postponed or cancelled a major oil sands project, so my guess is that other companies are either in the process of making similar layoffs or contemplating them in the near future, Mr. McGowan said. (Globe and Mail)
New plan pitched to Total Apr 16, 2009
The remainder of Fort Hills is owned by Petro-Canada, which holds 60 per cent, and Teck Cominco Ltd., with 20 per cent. Total has openly stated that it is interested in buying Teck's stake, which Teck valued at $545-million in its 2008 annual report. According to one source, if Total paid $474-million for the UTS stake, it could likely convince Teck to settle for a similar amount. (Globe and Mail)
Petro-Canada to Eliminate 200 Jobs at Stalled Fort Hills Oil-Sands Project Apr 16, 2009
Petro-Canada to Cut 200 Employees on Stalled Oil-Sands Project - Bloomberg ... Petro-Canada to Cut 200 Employees on Stalled Oil-Sands Project ... Between 50 and 100 contractors working on the project will also be cut, , a spokesman for Petro-Canada, said today in a telephone interview. (Bloomberg -- Canada)
UTS Chief Roach Says Total's Improved $676 Million Bid Undervalues Company Apr 14, 2009
Suncor, Petro-Canada ... 3 million for Calgary-based Petro-Canada, majority owner of Fort Hills, enhanced the value of UTS and justifies a higher price for it, Roach said ... Suncors acquisition of Petro-Canada to create the largest Canadian energy company probably will drive down drilling and construction costs, improving the profitability of oil-sands ventures such as Fort Hills, said Roach, who joined UTS in 2004 from Husky Energy Inc.. (Bloomberg -- Canada)
UTS investors reject Total bid Apr 14, 2009
Petro-Canada is running the project, while UTS has a 20-per-cent position. Miner Teck Cominco Ltd. also holds a 20-per-cent stake in Fort Hills, and has discussed selling that interest to Total, according to UTS executives. (Globe and Mail -- Business)
Canada Stocks Rise to Three-Month High, Led by Manulife, Banks; Teck Gains Apr 10, 2009
Petro-Canada added 5. 6 percent to C$39. (Bloomberg -- Canada)
Canadian Stocks Climb as Suncor Rises With Energy Producers; RIM Advances Apr 9, 2009
Petro-Canada, which agreed last month to be bought by Suncor for C$19. 3 billion ($15. (Bloomberg -- Canada)
Suncor Energy reports oil sands production numbers for March 2009 Apr 8, 2009
In addition to Suncor's proprietary production of sweet and sour synthetic crude oil, diesel and non-upgraded bitumen sold directly to the market, reported production also includes products derived from bitumen received from Petro-Canada for processing on a fee-for-service basis. On a monthly basis, Suncor reports production numbers from its oil sands operation in order to provide stakeholders with a more timely review of operational performance. (Canada Newswire)
Crude Groups Advance On Oil's Rebound Apr 8, 2009
eIBD Investor's Business Daily Digital Edition. Access recent eIBD issues easily. (Investors Business Daily)
Nexen, Opti Canada May Be Targets as Oil's Drop Spurs Tar-Sands Takeovers Apr 4, 2009
Some takeovers may involve Canadian producers combining with each other, as with Suncor Energy Inc.s agreement to buy Petro-Canada for C$19. 3 billion, announced March 23. (Bloomberg -- Canada)
Total sells part of oil sands stake to Sinopec Apr 2, 2009
UTS last week reiterated its rejection of Total's offer, saying Fort Hills operator Petro-Canada's planned merger with Suncor Energy Inc. enhances the company's value. Petro-Canada owns 60 per cent of the project, with UTS and Vancouver-based miner Teck Cominco Ltd. evenly splitting the rest. (Globe and Mail -- Business)
Let's not be too eager to kill Petro-Canada Act Mar 30, 2009
The images of Petro-Canada PCA-T CEO Ron Brenneman and Suncor SU-T CEO Rick George announcing their proposed merger took me back to January, 2002, when PanCanadian chairman David O'Brien and I announced the proposed merger of his company with Alberta Energy to form EnCana Corp. ... Over the past week, I've been asked if I wished we had been afforded the protection of a law like the Petro-Canada Act, requiring a Canadian head office and preventing any single shareholder from holding more than 20... (Globe and Mail -- Business)
Oil mergers: Well matched Mar 28, 2009
So when Suncor and Petro-Canada, two big Canadian oil firms, announced a C$19 ... Suncor and Petro-Canada say the merger will help them withstand the trying times ... Petro-Canada recently delayed a development called Fort Hills after the projected cost rose from C$14 billion to C$25 billion in just over a year. (The Economist)
Sponsors on track, but concerns remain Mar 27, 2009
With ailing sponsors such as GM and Nortel, and major supporters suddenly in corporate flux, such as Petro-Canada facing a merger with Suncor Energy Inc., the big challenge and uncertainty for VANOC is collecting about $200-million from sponsors for its fiscal 2009, ending in July, and $400-million for fiscal 2010 ... At Petro-Canada, which is in a $19-billion takeover deal with Suncor, the firm is providing VANOC $63-million in support, including $18-million in cash ... "Clearly, we want to... (Globe and Mail -- National)
Canadian Stocks Climb, Halting Two-Day Slide as EnCana, Energy Shares Gain Mar 27, 2009
Petro-Canada advanced 5. 9 percent to C$35. (Bloomberg -- Canada)
