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Tag Archives: Asim Ghosh

Hurting Canadian oil producers signal further cuts to come

CALGARY, Alberta – Canadian energy companies, especially those at higher cost oil sands producers, are signaling they will cut capital spending for a second straight year in 2016 as they adjust to a painful new reality of oil near $40 a barrel. Energy executives, coming off a bleak third-quarter earnings season and due to roll out capital budgets in coming ...

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Canada’s Husky Energy swings to loss, says has cut 1,400 jobs

Husky Energy Inc, Canada’s No. 3 integrated oil company, reported a third quarter loss due to after-tax impairment charges of C$3.8 billion ($2.9 billion) on Friday and forecast a gloomy long-term outlook for oil and gas prices. The company said it had cut about 1,400 jobs, or about 17 percent of its workforce, so far this year and could make ...

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