Canadian oil output is forecast to decline this year for the first time since 2009 after a wildfire in northern Alberta curtailed more than one million barrels a day for a month and low commodity prices hit producers. Total Canadian oil output will drop to 3.82 million barrels a day in 2016, less than the 3.85 million barrels a day produced last year, the Canadian Association of Petroleum Producers said in its annual forecast released Thursday. In 2017, production will rise to more than 4 million barrels a d
Oil prices settled 5 percent lower on Friday after Britain's vote to leave the European Union spurred massive risk aversion and a rally in safe havens like the U.S. dollar that threatened to cut short a three-month-long recovery in global oil markets. Financial markets have been worried for months about what a British exit from the European Union, dubbed widely as 'Brexit,' would mean for Europe's future, but were clearly not fully factoring in the risk of a 'leave' vote. The dolla
Companies are betting a “liquid biopsy” can change cancer testing. If you thought that next-gen blood-testing technology had hit a wall because of the woes of Elizabeth Holmes and her hobbled unicorn Theranos, you’d be wrong. A growing number of biotech and pharmaceutical companies are ramping up efforts to create smarter, more effective blood diagnostics. This spring, California-based Freenome got a multimillion-dollar cash infusion from Andreessen Horowitz. Pharma g
“Peak oil demand” has become a fashionable concept among climate campaigners but the evidence suggests oil consumption is growing at the fastest rate for a decade and shows no sign of letting up. Global oil consumption increased by nearly 1.9 million barrels per day (bpd) in 2015, the largest annual increase since 2004, apart from the post-crisis bounce recorded in 2010. Most forecasters predict consumption will grow by another 1.5 million bpd in 2016 and a similar amount in 2017, which would
BHP Billiton (ASX, NYSE:BHP) (LON:BLT), the world’s largest mining company and the No.3 iron ore producer, is expecting at least another ten years of iron ore oversupply before the market balances out. Speaking to reporters in New York, chief executive officer Andrew Mackenzie said seaborne would be one of the commodities to take the longest stabilize, adding that while prices have recovered from last year historical lows, climbing slightly past the $60-per-tonne mark in early May, the rally is si
Twilio Inc., the maker of mobile and web applications backed by Bessemer Venture Partners, raised $150 million in its initial public offering, pricing the shares above the marketed range. The San Francisco-based company priced 10 million Class A shares at $15 each, according to a statement Wednesday, after offering them for $12 to $14 apiece. The shares will start trading Thursday, listed on the New York Stock Exchange under the symbol TWLO. At the IPO price, Twilio has a market value of about $1.23 billi
Canadian oil output is forecast to decline this year for the first time since 2009 after a wildfire in northern Alberta curtailed more than one million barrels a day for a month and l... Full Story
is pleased to announce the completion of Pre-Operational Verification (“POV”) at the Renard Project diamond process plant and the formal commencement of plant commissioning. &... Full Story
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