After selling off all oilsands assets, Statoil looks to Newfoundland offshore + MORE Feb 10th

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With North American equities priced to deliver only piddling paybacks, look to emerging markets

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A week after Statoil sold off all its assets in Alberta’s oilsands, it looked eastward, to Newfoundland’s offshore.
There, the Norwegian energy giant saw opportunity in the North Atlantic, announcing this week plans to drill two offshore exploratory wells this summer in the Flemish Pass Basin, roughly 500 kilometres east of St. John’s, N.L.
It is a gamble _ pulling out of one area with vast pools of proven oil reserves, while simultaneously launching a drilling program in the open ocean, where discovering commercially viable reservoirs is not certain.
But analysts say there is logic behind Statoil’s decision. While companies shifting their investments to offshore exploration are taking on more risk, there is upside.
The crude found beneath the ocean floor is generally lighter and more valuable than oilsands bitumen. Offshore oil can also be shipped anywhere in the world by tanker, whereas Alberta’s landlocked oil requires pipelines to access markets abroad _ pipelines that still need to be built…

Continue Reading On canadianbusiness.com »

Save, invest, prosper with My Own Advisor.
 
Welcome to my latest Weekend Reading edition, some of my favourite reads from the week that was.
Before that list, here are the articles I posted this week:
I believe the best time to invest was really yesterday.
Even if you have a great income, it does not mean you are financially literate.  Consider these three things to improve your financial literacy – they certainly helped me and continue to do so.
Congratulations to Pat who won the Victory Lap Retirement book – that book is in the mail and you should receive it soon.  Thanks to everyone who entered this giveaway and thanks for your support of this site.
I wish you and your family a great weekend – value every moment.
Mark
I watched this video by Preet Banerjee, the difference between stocks (being an owner) and bonds (being a lender).

Over the years, to help realize our financial goals, I prefer being an owner – an owner in 20-30 Canadian dividend paying stocks and a few indexed Exchange Traded Funds (ETFs)…

Continue Reading On myownadvisor.ca »

Financial PostTSX closes at all-time high, Wall Street shatters more records on Trump's promise of a 'phenomenal' tax planFinancial PostTORONTO — Canada's main stock index powered to a record high on Friday propelled by higher oil prices and expectations of corporate-friendly tax cuts in the United States, while an unexpected surge in domestic job growth also suggested a brighter …In response to reader queries, a tutorial on total returnsThe Globe and MailToronto's TSX soars to record high close, Wall Street surges on Trump newsVancouver SunTSX closes at a new record highCBC.ca660 News -CTV News -BNN -Investing.comall 24 news articles »

Continue Reading On Business.financialpost.com »

Bombardier, which has repeatedly received financial help from the state, received $372.5-million from Ottawa in the form of a ‘repayable contribution’

Continue Reading On theglobeandmail.com »

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