Tag Archives: petroleum

Parkland Fuel Corp. reports all-time profit

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Parkland Fuel Corp. (TSX: PKI) is reporting 2012 earnings of $84.9 million, a 93 per cent improvement on its 2011 performance of $43.9 million and an all-time high for the Red Deer-based company.

Parkland, which is Canada’s largest independent marketer and distributor of petroleum products, saw its 2012 revenues increase by four per cent, to $4.13 billion from $3.98 billion. Earnings per basic share jumped 73 per cent, to $1.28 from 74 cents — and the company announced that it is increasing its annual dividend by two cents, to $1.04.

Read more: http://tinyurl.com/a4b4ohl

Is Alberta’s petroleum industry missing out?

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Petroleum pipeline proponents say it’s an economic necessity to get oilsands crude to foreign markets. Opponents argue it’s an environmental imperative to prevent that flow.

Alberta government officials have been strenuously making the former case. They warn of imminent spending cuts due to plummeting royalty revenues, which in turn are the result of the low prices that oil companies in the province are receiving.

Read more: http://tinyurl.com/aqvrgcp

 

Does Canada Need a Strategic Petroleum Reserve?

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It was only a little over a month ago that the world, as well as most Canadians, discovered that Canada was host to the world’s strategic maple-syrup reserve. The confounding theft of $30 million worth of maple-syrup led The Atlantic to expound upon the rationale for this largely unknown government-sanctioned enterprise. In sum, the need to assure that supply of the product will meet its demand is at the crux of the foundational logic. This rationale is similar to that which has spawned the creation of strategic petroleum reserves (SPR) the world over. Yet Canada is a nation without a SPR, and petroleum, unlike maple-syrup, lacks a viable substitute in the event of a significant shortage.

Read more: http://tinyurl.com/8g6rwm6