Suncor Energy, MEG Energy, and Cenovus Energy are among the top stock picks.
Canadian oil stocks have analysts on Bay Street feeling bullish as the Trans Mountain Pipeline expansion redefines the market for Alberta’s crude.) is expected to kick off the third-quarter earnings season for the sector on Oct. 30, followed by larger peers Canadian Natural Resources slid six per cent in the third quarter versus the prior three months, the discount on Canadian crude was largely flat, thanks to the Trans Mountain Pipeline Expansion having come on-stream in May.
The Trans Mountain Pipeline Expansion adds an extra 590,000 barrels of oil per day to the link from Alberta to the Pacific Coast. Bouvier estimates this first addition of new capacity in well over a decade will allow excess space until mid-2027. “Oil price volatility is not going away, but the re-engineered model that energy producers have embraced has afforded investors with a sector that has financial resiliency and shareholder return optionality like never before,” Pardy wrote in a note to clients.“The pace of buybacks may vary, but the direction of travel is unmistakable.
Suncor Energy Cenovus Energy MEG Energy Trans Mountain Pipeline Jason Bouvier Price Volatility Oil Prices Oil
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian PM says he won't tolerate foreign government killing Canadian citizens on Canadian soilCanada says it has identified India’s top diplomat in the country as a person of interest in the assassination of a Sikh activist there and expelled him and five other diplomats.
Read more »
Trans Mountain purchase doesn't sway Suncor CEO's view on Canadian competitivenessSteve Williams says the $4.5-billion sale doesn't change his view that Canada is falling behind other jurisdictions in terms of competitiveness when it comes to government royalties, taxation and confidence in the regulatory system.
Read more »
Suncor Energy pleads guilty to charges for 2019 injury on oil vessel off NewfoundlandST. JOHN'S, N.L. — Suncor Energy has been fined $90,000 after pleading guilty to two charges stemming from a worker injury in 2019 aboard its production vessel in an oilfield off the coast of Newfoundland.
Read more »
Suncor Energy pleads guilty to charges for 2019 injury on oil vessel off NewfoundlandSuncor Energy has been fined $90,000 after pleading guilty to two charges stemming from a worker injury in 2019 aboard its production vessel in an oilfield off the coast of Newfoundland.
Read more »
Foreign mutual funds and ETFs sold $5B in Canadian energy stocks amid oil volatility: CIBCCanadian Natural Resources shares accounted for $2.8 billion worth of the sales, followed by TC Energy at $1.2 billion, and Cenovus Energy at $721 million...
Read more »
Royal Canadian Mint's new toonie commemorates 100th anniversary of Royal Canadian Air ForceThe Royal Canadian Mint unveiled in Winnipeg a new toonie, which began circulating Wednesday, highlighting the 100th anniversary of the Royal Canadian Air Force.
Read more »