UPDATE 2-Ottawa sets Petro-Canada price at C$64.50
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Ottawa has set a price per share of C$64.50 ($50.42) in the sale of its 19 percent stake in Petro-Canada (PCA.TO: Quote, Profile, Research) , as analysts
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LONDON - Oil prices rose for the second day in a row on Thursday as several Opec ministers called for the cartel to stop producing more oil than its official target to prevent a glut next year.
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The Bank of Canada raised its overnight  interest rate a quarter percentage point on Tuesday to 2.50  percent as expected, and made clear it would keep raising rates  even as it lowered its forecast for Canadian growth.
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British oil firm Cairn Energy has said that the initial public offering of its Indian unit would be priced at 160 rupees per share (2.73 euros, 3.56 dollars) -- at the low end of its price range.
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The Saudi announcement came after oil prices moved above the US$50 per barrel mark. Oil analyst Deborah White at Societe General bank, said: &quot;The Saudi announcement is not a surprise.
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Crude oil futures edged up toward $50 a barrel today amid renewed fears over winter supplies. Light sweet crude for delivery in January traded at $49.49 a barrel at midday in Europe, up 60 cents from the contract&#39;s
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Oil firm Cairn Energy has said that the initial public offering of its Indian unit would be priced at 160 rupees per share (1.83 sterling) -- at the low end of its price range.
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The Russian government today set an auction date of Dec. 19 for the country's No. 1 oil producer, with a starting price at about $8.6 billion.
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Canadian consumer prices unexpectedly fell in June, but that is unlikely to deter the Bank of Canada from raising interest rates in September, analysts said, as the annual inflation rate stayed well above target. Annual inflation held steady at 2.2 percent in June. The core rate, which excludes volatile items like gasoline, jumped back up to Aprilâs four-year high of 2.5 percent, after easing to 2.2 percent in May. âThis is good news for a day, but the Bank of Canada will still continue to hike rates to try to minimize any inflation overshoot,â said Carl B. Weinberg, chief economist at High Frequency Economics.
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The crude market cooled off after the benchmark contract closed above $50 a barrel for the first time ever on Friday. November crude added 48 cents to finish the session at $50.
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Company confirms double-digit price rises for gas and electricity
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VIENNA, Austria -- Oil prices rose above $62 a barrel Thursday as OPEC delegates said they had agreed in principle to leave production unchanged for now but set the stage for a likely cut of half a million barrels a day in February.
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Enbridge Inc.ENB.TO said on Wednesday  it will buy Shell's natural gas pipeline in the Gulf of Mexico  for $613 million, in a move that will make the Canadian company  a major natural gas transporter in the area.
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After touching $53 a barrel, light crude for November delivery settled with a gain of 65 cents at $52.67. Oil prices have risen more than 20 percent over the past month, largely in reaction to news that output
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VIENNA -- Consumers received no solace yesterday from OPEC, which said oil prices near $50 per barrel would remain high through the spring, even as the cartel decided to keep its production ceiling unchanged.
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The federal government&#39;s sale of its remaining 19% stake in Petro-Canada is imminent, ending Ottawa&#39;s 29-year presence in the oilpatch, say sources in the investment community and the oil producer.
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After touching 53 dollars a barrel, light crude for November delivery settled with a gain of 65 cents at 52 dollars, 67 cents. Oil prices have risen more than 20 percent over the past month, largely in reaction