• About
    • Which Energy Mix is this?
  • Climate News Network Archive
  • Contact
The climate news that makes a difference.
No Result
View All Result
The Energy Mix
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
No Result
View All Result
The Energy Mix
No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
  FEATURED
Danske Bank Quits New Fossil Fuel Financing January 23, 2023
Extreme Warming Ahead Even as Worst-Case Scenarios Grow ‘Obsolete’ January 23, 2023
Notley Scorches Federal Just Transition Bill as Fossil CEO Calls for Oilsands Boom January 23, 2023
IRON OXIDE: New Battery Brings Long-Duration Storage to Grids, 750 Jobs to West Virginia January 23, 2023
BREAKING: GFANZ Banks, Investors Pour Hundreds of Billions into Fossil Fuels January 17, 2023
Next
Prev

BLEEDING MONEY: Canadian Oil and Gas Profits Falling Fast

April 20, 2015
Reading time: 1 minute

Daniel_Sinoca / Pixabay

Daniel_Sinoca / Pixabay

 
Daniel_Sinoca / Pixabay

Canadian oil and gas companies begin reporting their quarterly earnings next week, and analysts expect “the biggest drop in profit in at least a decade,” the Calgary Herald reports.

“Earnings per share for Canadian petroleum producers will fall more than half for the 63 members of an energy industry sub-sector of the Standard & Poor’s/TSX Composite Index, according to data compiled by Bloomberg,” Healing wrote last week. “Almost half of those companies, including Calgary-based Cenovus Energy and Canadian Natural Resources Ltd., are expected to post losses in the quarter that ended March 31.”

  • Be among the first to read The Energy Mix Weekender
  • A brand new weekly digest containing exclusive and essential climate stories from around the world.
  • The Weekender:The climate news you need.
New!
Subscribe

“They’re bleeding money right now,” said Robert Mark, director of research at MacDougall, MacDougall & MacTier Inc.

Calgary investment bank Peters & Co. said companies that locked in future oil and gas prices or that operate refineries did better in the first quarter of the year.

But as long as oil prices stay low, “there’s probably more pain to come,” Mark said. “If you’re over-levered and not hedged, you’re in big trouble.” On Thursday, oilfield service provider Schlumberger Ltd. announced 11,000 job cuts, bringing its total to 20,000. The company’s global work force is down 15% since September 30, 2014.



in Canada, Climate & Society, Community Climate Finance, Energy / Carbon Pricing & Economics, Fossil Fuels, Jurisdictions, Oil & Gas, Tar Sands / Oil Sands

The latest climate news and analysis, direct to your inbox

Subscribe

Related Posts

United Nations
Air & Marine

Salvage of $20B ‘Floating Time Bomb’ Delayed by Rising Cost of Oil Tankers

January 27, 2023
51
RL0919/wikimedia commons
Finance & Investment

Danske Bank Quits New Fossil Fuel Financing

January 23, 2023
2.2k
@tongbingxue/Twitter
Ending Emissions

Extreme Warming Ahead Even as Worst-Case Scenarios Grow ‘Obsolete’

January 23, 2023
289

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Trending Stories

EcoAnalytics

Albertans Want a Just Transition, Despite Premier’s Grumbling

January 23, 2023
245
United Nations

Salvage of $20B ‘Floating Time Bomb’ Delayed by Rising Cost of Oil Tankers

January 27, 2023
51
RL0919/wikimedia commons

Danske Bank Quits New Fossil Fuel Financing

January 23, 2023
2.2k
@tongbingxue/Twitter

Extreme Warming Ahead Even as Worst-Case Scenarios Grow ‘Obsolete’

January 23, 2023
289
Weirton, WV by Jon Dawson/flickr

IRON OXIDE: New Battery Brings Long-Duration Storage to Grids, 750 Jobs to West Virginia

January 23, 2023
511
Rachel Notley/Facebook

Notley Scorches Federal Just Transition Bill as Fossil CEO Calls for Oilsands Boom

January 23, 2023
268

Recent Posts

Sergio Boscaino/flickr

Dubai Mulls Quitting C40 Cities Over ‘Costly’ Climate Target

January 24, 2023
89
hangela/pixabay

New UK Coal Mine Faces Two Legal Challenges

January 24, 2023
46

Gas Stoves Enter U.S. Climate Culture War, Become ‘Bellwether’ for Industry

January 22, 2023
75
Jeff Hitchcock/flickr.

BREAKING: GFANZ Banks, Investors Pour Hundreds of Billions into Fossil Fuels

January 23, 2023
498

Exxon Had the Right Global Warming Numbers Through Decades of Denial: Study

January 17, 2023
226
willenhallwench / Pixabay

Ontario Greenwashes with ‘Misleading, Illegitimate’ Emission Credits

January 16, 2023
314
Next Post

Key role urged on central banks in climate fight

The Energy Mix - The climate news you need

Copyright 2023 © Energy Mix Productions Inc. All rights reserved.

  • About
  • Contact
  • Privacy Policy and Copyright
  • Cookie Policy

Proudly partnering with…

scf_withtagline
No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}