Oil industry will continue to lose money this year Conference Board of

by The Canadian Press Posted Mar 13, 2017 7:38 am MDT Last Updated Mar 13, 2017 at 8:40 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Oil industry will continue to lose money this year: Conference Board of Canada CALGARY – The Conference Board of Canada says the oil industry will continue to lose money for much of this year despite stronger financial conditions and the promise of new pipeline capacity.Economist Carlos Murillo says the sector has narrowed losses since hitting rock bottom with an $11-billion overall loss in the first quarter of 2016, but it won’t post positive numbers until the fourth quarter of this year.He says he expects the industry to recover to match its 2010 profit of around $13 billion by 2021.The board says in a report released Monday that capital investment this year is expected to fall to $22 billion from $27 billion last year as big construction projects in the Alberta oilsands and offshore Newfoundland are completed.The peak investment level was $62 billion in 2014.The board says benchmark light crude will average US$55 per barrel this year and rise to US$71 by 2021.Murillo predicts Canadian industry costs will jump by an average of 13 per cent per year between 2017 and 2021, in part because of pipeline transportation constraints that could force more producers to switch to crude-by-rail options.“The way we kind of look at it is, because the losses have been so large over the last couple of years, it takes a bit of time to get up there to the point that you actually are starting to make money again,” said Murillo.“Of course, improving revenues will help, but there are already cost pressures.” read more

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Im offering my Cambridgeshire field to travellers to get back at the

first_img Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. Linda Watson, 48Credit:Geoff Robinson She spent £70,000 renovating the land and creating a stud farm and more recently she has run a horse rehabilitation business. Linda wants travellers to stay on her land to get back at local villagers Credit:Geoff Robinson  She recently applied to East Cambridgeshire District Council to have a small home on the site and improve her business, but the plans were rejected.She added: “This was just a run-down piece of land when I bought it but I’ve spent thousands making it look good, with fencing.”I had a meeting with the council about plans to make a permanent home here and they advised me to put forward a business plan, but they’ve since told me it was rubbish.”She said she now plans to move abroad next month.”It’s a very well-to-do village, but they have done nothing for me,” she said. “Not one of them has helped me with my planning application.”Travellers will be living here later this month and I’ll be moving abroad.”East Cambridgeshire District Council has been contacted for a comment. Linda wants travellers to stay on her land to get back at local villagers Linda Watson, 48, She said: “It’s a great plot of land with electric, water and lovely scenery. I have advertised it on Facebook and had lots of interest from people wanting it for horses.”But I want to give it to travellers and I have two lots coming to take a look already this week.”I’ve had no support from anyone in this village. I’m happy to give the land away to travellers if I have to. I hope it will create s*** for the village. Everyone in Kirtling is so far up their own a***.”Linda has owned the piece of land at the Coedendderw Stud in Bradley Road for the last 17 years and moved into a static caravan on the site with her partner four years ago. A woman who owns a plot of land in a Cambridgeshire village is offering it to travellers to live on because her neighbours are “so far up their own a****.”Linda Watson, 48, says she wants travellers to have the two-and-a-half-acre plot in Kirtling, near Newmarket and hopes the sale will create “s*** for the village.”last_img read more

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