Canada's dominant oil sands player, however, plans to spend about $900 million more next year.
Suncor, Canada's dominant oil sands player, telling COS shareholders the firm has a record of “underperformance, financial challenges,” and vulnerability to low oil prices.
Suncor steeped up its hostile Cdn$4.3bn bid for COS by asking the Alberta Securities Commission to strike down the target’s rights plan to prevent a takeover.
The company said Suncor Energy’s hostile takeover offer was "undervalued, opportunistic and exploitive."
"Disappointed but not surprised"
Canadian Oil Sands has been labouring under low oil prices.
The remaining 55 pipelines affected by a suspension order must stay closed until the company can demonstrate they're safe.
The largest synthetic crude oil processing facility in Canada is slowly recovering from a fire that damaged equipment and communication lines over the weekend.
The incident adds to the firm's mounting challenges, including swinging to a loss, growing debt, unplanned equipment outages and Moody’s Investors Service recent cut of the company's credit rating.
According to TD's latest report, real GDP growth in Alberta will inch forward by only 0.5% this year before speeding up to 1.8% in 2016.
According to the Conference Board of Canada, the province faces more than just a slowdown.
The vote of the full plenary was prompted earlier this month when the EU's environment committee rejected a deal worked out after more than two years of lobbying by Canada.
Ontario and Alberta agree the controversial $12bn Energy East pipeline is a “nation-building” exercise and said they'd work together on the issue.
TransCanada Corp’s key projects face increasing hurdles locally and across the border.
While most senators support the pipeline, a binding vote has not been held in the Senate under a Democratic majority since 2012.
Veto likely if passed by Congress.
The EU new plan changes how refiners label the carbon intensity of their fuel.
The court’s ruling could force President Obama’s hand in making a final decision whether to green light the stalled project.
A majority of Canadians overestimate the contribution the oil sands make to the world’s 11th largest economy, a study published Friday reveals.
Foreign takeover rules imposed in 2012 have hurt oil sands companies, shows a new study by the University of Calgary’s School of Public Policy.
After years of lobbying, Canada's Federal Government seems to have persuaded the European Commission to change draft rules that would open the way for Alberta crude supplies.
Company claims comment was part of a requirement for the application to the National Energy Board.
Despite objections from several groups, the Harper government declared over the weekend the humpback a "species of special concern" under the Species at Risk Act (SARA).
Chinese capital could fund 40% of the necessary investment in the country's oil sands over the next 20 years.
Lower sales, lower prices, lower production.
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