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Chrystia Freeland - Russia one of the ‘biggest threats’ to world economy amid recession fears: Freeland - globalnews.ca - Canada - area District Of Columbia - Russia - Washington, area District Of Columbia - Ukraine

15.10.2022 / 09:29

Russia one of the ‘biggest threats’ to world economy amid recession fears: Freeland

Russia’s war in Ukraine is proving to be “one of the biggest threats” to the world economy at the moment, according to Deputy Prime Minister Chrystia Freeland.Freeland, who also serves as Canada’s finance minister, made the comments to reporters in Washington, D.C., on Friday following the annual meetings of the World Bank Group and International Monetary Fund (IMF), which put out a stark world economic outlook earlier this week.“One of the biggest threats, not only to the lives of Ukrainians right now, not only to the sanctity of the international rules-based order, but also to the world economy today is Russia’s invasion of Ukraine,” Freeland said.“There’s one simple thing that could happen that would make the global economy much more secure, and that is for Russia to get out of Ukraine.” As IMF warns of economic slowdown, Canada’s labour market could be critical buffer The IMF cited the war in Ukraine on Tuesday as one of the drivers for cutting its global growth forecast for 2023. High energy and food prices, inflation and sharply higher interest rates, also factored in to the IMF’s report, which indicated a third of the world economy will likely contract by next year.Russia’s war in Ukraine has been raging for close to eight months since the wide-scale invasion began on Feb.

Chrystia Freeland Canada area District Of Columbia Russia Washington, area District Of Columbia Ukraine Oil prices

Gas prices continue to hit new records. Here’s how to save at the pump - globalnews.ca - Canada - Ukraine - county Price

05.03.2022 / 09:37

Gas prices continue to hit new records. Here’s how to save at the pump

Gas prices are hitting highs that have never before been seen in Canada.

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IMF raises world economic growth forecast to 5.5% - rte.ie

26.01.2021 / 16:30

IMF raises world economic growth forecast to 5.5%

The International Monetary Fund has revised upwards its forecast for growth in the world's economy this year, based on the rollout of vaccines and financial support packages deployed by governments.

business Oil prices Coronavirus

OPEC cuts oil demand forecasts, BP sees ‘peak oil’ in 2020s - globalnews.ca - Canada

14.09.2020 / 20:39

OPEC cuts oil demand forecasts, BP sees ‘peak oil’ in 2020s

Canada ‘very concerned’ with OPEC’s decisions amid coronavirus outbreak: Trudeau OPEC cut its estimates for world demand by 400,000 barrels a day for both this year and next. It now sees a drop in demand of 9.5 million barrels a day in 2020 and a rise of 6.6 million barrels in 2021.

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Oil and gas spending fell by 54% in last quarter: Stats Can - globalnews.ca - Canada

28.08.2020 / 22:13

Oil and gas spending fell by 54% in last quarter: Stats Can

COVID-19 pandemic, low energy prices leave Alberta with $24.2B deficitThe federal agency says the industry spent about $3.88 billion in the three-month period, down from $8.46 billion in the first quarter and $8.59 billion in the second quarter of 2019, as a global price war and demand destruction caused by the COVID-19 pandemic eroded crude prices.

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Jason Kenney - Travis Toews - Thursday’s fiscal update will unveil ‘biggest deficit in the history of Alberta’: Kenney - globalnews.ca

26.08.2020 / 00:25

Thursday’s fiscal update will unveil ‘biggest deficit in the history of Alberta’: Kenney

Jason Kenney said will likely show the largest deterioration of Alberta’s finances since at least the 1930s.“This is going to be the biggest deficit in the history of Alberta by a country mile,” Kenney said Tuesday.

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Imperial Oil beats on second-quarter oil production, post higher than expected loss - globalnews.ca

31.07.2020 / 19:54

Imperial Oil beats on second-quarter oil production, post higher than expected loss

Imperial Oil Ltd. are trading lower after it beat analyst expectations on oil and gas production but reported a higher-than-forecast second-quarter loss.The Calgary-based company reported a net loss of $526 million on revenue of $3.7 billion in the three months ended June 30, down from a net profit of $1.2 billion on revenue of $9.26 billion in the year-earlier period.Analysts had expected a $188 net loss and revenue of $4.244 billion.

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Aid for Canada’s energy sector heavily weighted towards fossil fuels in COVID-19 response - globalnews.ca - Canada

16.07.2020 / 07:19

Aid for Canada’s energy sector heavily weighted towards fossil fuels in COVID-19 response

Documents prepared for Natural Resources Canada deputy minister Christyne Tremblay ahead of an April 20 meeting, and obtained through an access to information request, show just a few weeks into the pandemic the government was already well aware that COVID-19 was wreaking havoc right across the energy sector, including fossil fuels and renewables.Tremblay’s notes for the meeting say that global energy demand had collapsed, posing big problems for the Canadian economy.“This will challenge Canada’s climate and energy transformation agendas,” the document reads.Stewart said that doesn’t have to be true if the federal government makes sure its COVID-19 economic stimulus programs focus on policies to move those agendas forward.An attached

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Global oil demand rebounds from COVID-19 pandemic’s lows, prompts price spike forecasts - globalnews.ca - Usa

07.07.2020 / 01:39

Global oil demand rebounds from COVID-19 pandemic’s lows, prompts price spike forecasts

Sen says the shallower drop in demand and quick recovery illustrates how dependent the world is on crude and suggests that its oil dependence will not be diminished in the near term.In an energy price forecast released Monday, accounting firm Deloitte also makes note of the oil demand recovery and predicts Brent crude prices will rise from an average of US$39 per barrel this year to US$46.50 in 2021 and US$64 in 2023.“The market thought that demand would fall by between 30 and 40 million barrels a day,” said Sen, noting that spot oil prices fell to negative levels at one point because investors believed demand would reach extremely low levels.

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Alberta Health - Jason Kenney - Travis Toews - Alberta boosts infrastructure spending by 40%, cuts business tax to bolster economy - globalnews.ca

29.06.2020 / 21:43

Alberta boosts infrastructure spending by 40%, cuts business tax to bolster economy

a global pandemic and oil price collapse.“Albertans have risen to the challenge to the pandemic,” he said.

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Jason Kenney - Yves-François Blanchet - Elizabeth May - Green Party - Kenney fires back at May and Blanchet, calls comments about oil industry ‘un-Canadian’ - globalnews.ca - Canada

08.05.2020 / 05:08

Kenney fires back at May and Blanchet, calls comments about oil industry ‘un-Canadian’

A day after leaders with the federal Green Party and the Bloc Québécois suggested they believe Canada’s embattled oil industry may not bounce back, Alberta Premier Jason Kenney fired back at their comments and touted the energy sector’s contributions to Canada.

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Precision Drilling reports $5.3M Q1 loss, warns of drop in demand well into 2021 - globalnews.ca - Russia - Saudi Arabia

30.04.2020 / 15:39

Precision Drilling reports $5.3M Q1 loss, warns of drop in demand well into 2021

Precision Drilling Corp. reported a loss in its first quarter and warned that it expected a significant and sustained drop in customer demand for oil and gas services well into next year as a result of the recent plunge in oil prices.

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Calgary-based Husky Energy reports $1.7 billion first quarter loss, cuts dividend - globalnews.ca

29.04.2020 / 15:57

Calgary-based Husky Energy reports $1.7 billion first quarter loss, cuts dividend

Husky Energy Inc. slashed its dividend as it reported a $1.7-billion loss in its first quarter due to impairment charges related to the plunge in crude oil prices as a result of the COVID-19 pandemic.

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Calgary-based Cenovus Energy reports $1.8B first quarter loss as oil prices plunge - globalnews.ca - Russia - Saudi Arabia

29.04.2020 / 15:57

Calgary-based Cenovus Energy reports $1.8B first quarter loss as oil prices plunge

Cenovus Energy Inc. reported a $1.8-billion loss in its first quarter as oil prices fell due to a drop in demand as a result of the COVID-19 pandemic and a oil price war between Saudi Arabia and Russia.

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Trans Mountain, LNG Canada say project progressing despite coronavirus pandemic - globalnews.ca - Canada

26.04.2020 / 14:33

Trans Mountain, LNG Canada say project progressing despite coronavirus pandemic

Energy projects like an LNG Canada export terminal and the Trans Mountain pipeline expansion may face short-term setbacks but the coronavirus pandemic and oil price crash shouldn’t threaten their long-term viability, economists say.

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Canadian energy sector shutting down production as low crude oil prices persist - globalnews.ca

23.04.2020 / 00:24

Canadian energy sector shutting down production as low crude oil prices persist

Calgary-based energy companies are continuing to reduce production, cut spending and trim costs as volatile oil prices remain stubbornly below profitable levels.

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Saskatchewan - Coronavirus: Oil price crash prompts calls for green energy - globalnews.ca - state Texas

22.04.2020 / 05:02

Coronavirus: Oil price crash prompts calls for green energy

A former Saskatchewan cabinet minister said the historically low price of oil — caused by a drop in demand brought on by the coronavirus pandemic — shows the need for the country and the province to diversify their economies.

Saskatchewan state Texas COVID19 Oil prices Coronavirus

Plunging oil prices point to ‘deep collapse’ in sector, drilling firm CEO warns - globalnews.ca - Usa - Canada - state Texas

22.04.2020 / 03:13

Plunging oil prices point to ‘deep collapse’ in sector, drilling firm CEO warns

The CEO of one of Canada’s largest drilling rig contractors says plunging North American crude prices on Monday and Tuesday are signs that the oil industry is headed for a “deep, deep collapse.”

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Greg Poelzer - Saskatchewan - Coronavirus: Oil prices drop below zero as Saskatchewan companies slash budgets - globalnews.ca - Canada - state Texas

21.04.2020 / 04:15

Coronavirus: Oil prices drop below zero as Saskatchewan companies slash budgets

The price of a barrel of Western Texas Intermediate crude oil, a global benchmark for oil prices, cost less than zero dollars on Monday.

Greg Poelzer Saskatchewan Canada state Texas covid-19 Oil prices Coronavirus

Oil prices are in the negative: COVID-19 rules to stay home played a huge part - globalnews.ca - Usa - state Texas - state Oklahoma

21.04.2020 / 02:34

Oil prices are in the negative: COVID-19 rules to stay home played a huge part

As oil prices dropped to unprecedented negative levels Monday, experts say it is all the result of an oversupply problem that was pushed to this point due to stay-at-home orders related to COVID-19.

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Jason Kenney - How does Western Canadian Select oil pricing work? - globalnews.ca - Usa - Canada - county Canadian

21.04.2020 / 00:05

How does Western Canadian Select oil pricing work?

Western Canada’s oil price woes are often illustrated by references to the Western Canadian Select benchmark crude oil price.

Jason Kenney Usa Canada county Canadian covid-19 coronavirus news Oil prices Coronavirus

Stocks drop as U.S. crude oil futures prices turn negative for the first time in history - globalnews.ca - state Texas

20.04.2020 / 23:52

Stocks drop as U.S. crude oil futures prices turn negative for the first time in history

Wall Street fell sharply on Monday after U.S. crude oil futures turned negative for the first time in history, underscoring the chaos the coronavirus pandemic has unleashed on the global economy.

state Texas covid-19 Oil prices wti Coronavirus

U.S. oil prices tumble to 20-year low, threatening stock rally - globalnews.ca - Germany - city Madrid

20.04.2020 / 17:08

U.S. oil prices tumble to 20-year low, threatening stock rally

Caution recaptured world markets on Monday as a near 30% drubbing for U.S. WTI crude oil kicked off a busy week of data and earnings that will drive home the damage being inflicted by global coronavirus lockdowns.

Germany city Madrid covid-19 Oil prices wti Coronavirus

Co-op Refinery Complex reduces production at Regina plant amid coronavirus pandemic - globalnews.ca - Canada

17.04.2020 / 18:33

Co-op Refinery Complex reduces production at Regina plant amid coronavirus pandemic

The Co-op Refinery Complex is reducing production at its Regina plant amid the coronavirus pandemic.

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Saskatchewan provincial government unveils help for oil and gas industry - globalnews.ca - Russia - Saudi Arabia - province Saskatchewan

15.04.2020 / 04:25

Saskatchewan provincial government unveils help for oil and gas industry

The Saskatchewan government announced help for the provincial oil and gas industry, which is struggling with low oil prices brought on by coronavirus pandemic and a resolved price war between Saudi Arabia and Russia.

Russia Saudi Arabia province Saskatchewan covid-19 pandemic Oil prices Coronavirus

Coronavirus and the OPEC oil deal: What it means for Saskatchewan - globalnews.ca - Russia

14.04.2020 / 03:38

Coronavirus and the OPEC oil deal: What it means for Saskatchewan

The Saskatchewan energy minister said a deal made by most major oil and gas producers to curb production during the COVID-19 pandemic is a positive thing, but also said the province wouldn’t cut production because it is already reduced.

Russia Oil prices Canada G20

Despite OPEC agreement, Canadian oilpatch cutbacks expected to continue - globalnews.ca - Usa

13.04.2020 / 20:19

Despite OPEC agreement, Canadian oilpatch cutbacks expected to continue

Energy market analysts say Canadian oil wells will likely continue to be shut down amid weak prices despite an agreement to limit output struck by OPEC and other major producers on the weekend.

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Donald Trump - OPEC, oil nations agree to record-setting oil production cut amid coronavirus pandemic - globalnews.ca - Russia

12.04.2020 / 23:31

OPEC, oil nations agree to record-setting oil production cut amid coronavirus pandemic

OPEC and allies led by Russia agreed on Sunday to cut oil output by a record amount — representing around 10 per cent of global supply — to support oil prices amid the coronavirus pandemic, and sources said effective cuts could amount to as much as 20 per cent.

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Coronavirus: Ecuador to collect from businesses, residents in drastic economic plan - globalnews.ca - Usa - Ecuador

11.04.2020 / 06:38

Coronavirus: Ecuador to collect from businesses, residents in drastic economic plan

Ecuador‘s President Lenin Moreno unveiled an emergency economic plan Friday aimed at rescuing the South American nation hard hit by the new coronavirus and then dealt a second blow when two large pipelines broke, halting critical crude exports.

Usa Ecuador covid-19 Oil prices Coronavirus

Justin Trudeau - Canada working with G20 on joint response to oil prices hit by COVID-19 - globalnews.ca - Canada

10.04.2020 / 20:00

Canada working with G20 on joint response to oil prices hit by COVID-19

Prime Minister Justin Trudeau says Canada is working with the G20 to come up with a joint response to falling oil prices amid the COVID-19 crisis.

Justin Trudeau Canada Oil prices G20 Coronavirus

Financier predicts new respect for oilpatch as Canada recovers from COVID-19 pandemic - globalnews.ca - Canada

09.04.2020 / 06:33

Financier predicts new respect for oilpatch as Canada recovers from COVID-19 pandemic

Calgary energy investor Mac Van Wielingen says there’s an opportunity for the oil and gas sector to regain public respect and support when Canada tries to restore its economy after the COVID-19 pandemic ends.

Canada business Oil prices Energy Coronavirus

Alberta Health - Jason Kenney - Alberta Covid - ‘Probable’ Alberta COVID-19 model predicts 400-3,100 deaths: Kenney - globalnews.ca

08.04.2020 / 03:52

‘Probable’ Alberta COVID-19 model predicts 400-3,100 deaths: Kenney

Under a probable scenario, COVID-19 could claim between 400 to 3,100 Albertans’ lives by the end of summer, Premier Jason Kenney announced in a televised address to the province on Tuesday night.

Alberta Health Jason Kenney Alberta Covid covid-19 Oil prices Energy Coronavirus

Justin Trudeau - Oil and gas industry CEOs pen open letter to Ottawa asking for financial help - globalnews.ca - Canada - city Ottawa

07.04.2020 / 04:49

Oil and gas industry CEOs pen open letter to Ottawa asking for financial help

Several CEOs of companies involved in Canada’s oil and gas industry made a plea for financial help from the federal government on Monday through a letter published in the Financial Post.

Justin Trudeau Canada city Ottawa business Oil prices Energy Coronavirus

Jason Kenney - Deena Hinshaw - Kenney to present Albertans with COVID-19 projections during televised address Tuesday - globalnews.ca

07.04.2020 / 02:13

Kenney to present Albertans with COVID-19 projections during televised address Tuesday

Premier Jason Kenney will present some of the COVID-19 modelling projections put together by provincial health officials to Albertans on Tuesday evening during a special televised address.

Jason Kenney Deena Hinshaw Oil prices Public Health Energy Coronavirus

Work starts in Montana on Keystone XL pipeline - globalnews.ca - Usa - Canada - Mexico - state Montana - county Gulf

07.04.2020 / 00:30

Work starts in Montana on Keystone XL pipeline

TC Energy said Monday that it’s started construction on the long-stalled Keystone XL pipeline across the U.S.-Canada border despite calls from Indigenous leaders and environmentalists to delay the US $8-billion project amid the coronavirus pandemic.

Usa Canada Mexico state Montana county Gulf business Oil prices Public Health Energy

Donald Trump - Coronavirus: Saudi Arabia criticizes Russia over collapse of oil prices - globalnews.ca - Russia - city Moscow - Saudi Arabia

04.04.2020 / 15:25

Coronavirus: Saudi Arabia criticizes Russia over collapse of oil prices

Saudi Arabia sharply criticized Russia on Saturday over what it described as Moscow blaming the kingdom for the collapse in global energy prices, showing the tensions ahead of an emergency meeting of OPEC and other oil producers.

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Justin Trudeau - Feds torn between moving toward cleaner energy or bailing out oil and gas sector - globalnews.ca - Canada - Russia - Saudi Arabia

04.04.2020 / 14:29

Feds torn between moving toward cleaner energy or bailing out oil and gas sector

Canada’s oil producers could only sit and watch as the price of their product plummeted last month to less than what it costs to buy a litre of soda, hit by the double whammy of a COVID-19-induced drop in global demand and a production war between Russia and Saudi Arabia that flooded the market with more oil it didn’t need.

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Donald Trump - TSX down amid oil rout while Wall Street inches up in early trading - globalnews.ca - New York - Canada

30.03.2020 / 17:11

TSX down amid oil rout while Wall Street inches up in early trading

Canada’s main stock index was down in early trading on Monday as the price of oil slid to its lowest level since 2002. In the U.S.. however, stocks opened higher on Monday as President Donald Trump followed last week’s massive fiscal stimulus by extending his stay-at-home guidelines, leaving investors guessing at their economic impact.

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Producers advised to spend nothing on drilling as oil price hovers at US$25 amid COVID-19 pandemic - globalnews.ca - Usa - Canada - Jordan

19.03.2020 / 22:57

Producers advised to spend nothing on drilling as oil price hovers at US$25 amid COVID-19 pandemic

World oil prices have fallen so low that producers in Canada are being advised not to spend any money on drilling and, in some cases, to stop producing crude oil from existing wells.

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CNRL cuts spending, salaries as more oil producers trim capital plan - globalnews.ca

19.03.2020 / 07:29

CNRL cuts spending, salaries as more oil producers trim capital plan

Oilsands giant Canadian Natural Resources Ltd. is joining a lengthening list of oilpatch players who are cutting 2020 capital spending due to the COVID-19 pandemic and plunging oil prices.

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prince Rupert - Pembina Pipeline cuts capital spending plan by up to $1.1 billion - globalnews.ca

18.03.2020 / 15:45

Pembina Pipeline cuts capital spending plan by up to $1.1 billion

Pembina Pipeline Corp. is cutting its capital spending plan for this year by up to $1.1 billion due to the COVID-19 pandemic and the plunge in oil prices.

prince Rupert covid-19 Oil prices COVID-19 Pandemic

COVID-19

United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

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