Accounting rules help companies avoid impairment charges
Low oil prices alone won’t kill off oil sands development, says Canadian Business writer Andrew Leach.
Since mid-2014, the transaction market in the oil and gas sector has been stalled by a dramatic plunge in oil prices, according to EY's 2014 Canadian oil and gas transactions review. With current prices and market conditions, EY says few new oil or gas projects globally appear to be economical, and the Canadian industry is not immune.
British Columbia's finance minister tabled a balanced budget Tuesday as he boasted that his province may be the only one in Canada to avoid falling into deficit amid plunging oil prices.
The drop in energy prices hurts not only oil and gas companies but banks too.
While the rout in oil has sharpened the focus on the economic fallout, Canada tops the list as the largest consumer of energy per capita among OECD countries, meaning that trends in the energy needs of consumers and industries alike paint a fuller picture of the country's economic outlook, finds a new report from CIBC World Markets.
Alberta's economy has been riding high for more than four years. Now, with low and volatile oil prices, the question is how slow will the economy go?
As the year comes to a close, energy and financial stocks are strong.
The percentage of power and utilities companies expecting their deal pipelines to increase over the next 12 months has risen from 28% in April to 63% in October 2014, according to EY’s Power & Utilities Capital Confidence Barometer.
The energy sector's been volatile since mid-October. So help clients understand why.