Newspaper article The Canadian Press

Business News Advisory

Newspaper article The Canadian Press

Business News Advisory

Article excerpt

Business News Advisory

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Here are the CP Business Department's early plans for today. All times Eastern unless otherwise stated. All ETAs and wordcounts approximate. Entries are subject to change as news develops. If you have any questions, please contact the desk at business@thecanadianpress.com or 416-507-2138.

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COVERING:

We are following the report that Air Canada is looking to challenge the acquisition of WestJet Airlines by Onex.

A story is planned setting up the Bank of Canada's rate announcement on Wednesday.

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TOP STORIES:

Foreign oilsands share falls from 33% to 16%

Oilsands-Foreign

CALGARY -- When it comes to talking about how the northern Alberta oilsands have lost their lustre for foreign investors, Satoshi Abe sounds a lot like his Canadian counterparts. "I think Canada itself creates significant barriers to new investment," said the president of Japan Canada Oil Sands Ltd. or JACOS, reached at his Calgary office. With Oilsands-Foreign-China

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Big Chinese firms in the oilsands to stay

Oilsands-Foreign-China

CALGARY -- While some European and U.S. companies cut their exposure to the Canadian oilsands, China's Big Three oil giants -- CNOOC, PetroChina and Sinopec -- seem content to let their bets ride even if the results haven't been spectacular. In 2018, PetroChina produced an average of just 7,300 barrels per day of bitumen from its MacKay River thermal oilsands project, although it was designed to produce 35,000 bpd. In June, its output was about 8,700 bpd. PHOTO. With Oilsands-Foreign

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Crescent Point selling $912M in assets

Crescent-Point-Asset-Sale

CALGARY -- Crescent Point Energy Corp. is selling its Uinta Basin asset in Utah and certain southeast Saskatchewan conventional assets for a total of approximately $912 million. The Calgary-based company says the agreements include 27,000 barrels of our equivalent per day of upstream assets. …

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