Alberta government eases oil production curtailment

The province introduced mandatory production cuts to reduce the inventory and improve the price of oil

Alberta government eases oil production curtailmentThe Alberta government is increasing the amount of oil production allowed by the province’s producers. It said production limits in May will increase by 25,000 barrels a day and 25,000 more in June – a 50,000 increase in total to 3.71 million barrels per day allowed, effective June 1. This represents a total increase of…

Fire & Flower launches online cannabis sales

Edmonton-based retailer has e-commerce licence in Saskatchewan and is poised for growth elsewhere

Fire & Flower launches online cannabis salesYou can now order in your pizza and your pot – if you live in Saskatchewan. Fire & Flower Holdings Corp. on Monday launched an e-commerce platform to sell adult-use recreational cannabis to customers in Saskatchewan, and accessory products to the rest of the country. The online ordering service is available from the Edmonton-based retailer’s…

Alcanna looks to a future that profits from alcohol and cannabis

Edmonton-based retailer seeks to expand booze sales elsewhere in the country and ultimately expects pot will bring a big payoff

Alcanna looks to a future that profits from alcohol and cannabisA cannabis supply shortage persists for retailers and savvy customers are snapping up what little is available, Alcanna's CEO says. James Burns pointed to the company’s flagship Nova Cannabis store near Whyte Avenue in Edmonton. “We get product delivered once a week on a Thursday and the customers know that’s the day,” Burns said in…

Canadian economy weighed down by sluggish energy sector

RBC report forecasts Alberta economic growth will slow to 1.3% in 2019

Canadian economy weighed down by sluggish energy sectorCanada’s economy ended 2018 on a weak note, posting the slowest quarterly growth rate since mid-2016 and providing a soft handoff to 2019, according to a Provincial Outlook report released Friday by RBC Economics. Much of the sluggishness is blamed on the energy sector. The report said it expects that to continue in early 2019.…

Imperial slams Alberta government intervention in oil industry

Slows development of its Aspen oil sands project

Imperial slams Alberta government intervention in oil industryCalgary-based energy giant Imperial announced Friday it has slowed the pace of development of its Aspen in situ oil sands project given market uncertainty stemming from Alberta government intervention and other industry competitiveness challenges. “This was a difficult choice in light of our final investment decision on Aspen announced last November,” said Rich Kruger, chairman,…

Alberta manufacturing sales rebound in January to $6.2 billion

Largely driven by the food industry. Sales were also up in the wood product, fabricated metal product and electrical equipment

Alberta manufacturing sales rebound in January to $6.2 billionManufacturing sales in Alberta rose in January by 2.5 per cent to $6.2 billion, following two consecutive monthly declines, according to Statistics Canada data released on Friday. “Sales were up in 12 of 21 industries, largely driven by a 13.8 per cent increase in the food industry. Sales were also up in the wood product,…

Lack of pipelines, infrastructure cripples Canada’s ability to compete

CAPP report calls for a clear government commitment to resource development and a competitive fiscal environment

Lack of pipelines, infrastructure cripples Canada’s ability to competeCanada has an abundance of natural resources, but a lack of pipelines and insufficient infrastructure are crippling our ability to compete for global market share, says a new report by the Canadian Association of Petroleum Producers. “Before they will invest in Canada, global investors need to see that the Canadian federal and provincial governments are…

Alberta economic growth slashed to under 1% for 2019

Forecasted to grow by only 0.5 per cent this year compared with 2.1 per cent in 2018

Alberta economic growth slashed to under 1% for 2019Alberta’s 2019 growth forecast has been slashed to under one per cent with a modest rebound likely on tap for 2020, says a Provincial Economic Forecast released Thursday by TD Economics. “Mandated oil production curtailment so far this year has yielded stronger bitumen prices. However, the blow to overall confidence from last year’s price slide…

Big Rock Brewery swings to net income in 2018

Big Rock Brewery swings to net income in 2018Calgary-based Big Rock Brewery Inc. reported Thursday that its net income rose to $931,000 in 2018 compared to a net loss of just over $1 million in 2017. President & CEO Wayne Arsenault said in a statement that “significant improvements were made across our business in 2018, resulting in an increase in year-over-year EBITDA by…

Program spending key to balancing Alberta budget: Fraser Institute

Report says tax reform to regain the province’s former advantage across North America should be a priority

Program spending key to balancing Alberta budget: Fraser InstituteProgram spending cuts of 10.9 per cent over the next three years would balance the Alberta budget by 2021-2022, says a report released on Thursday by the Fraser Institute, a public policy think-tank. The cuts would be significant but the organization said it is substantially smaller than the reductions implemented by the government of Ralph…
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