The 49th parallel disappearing in natural gas market

Article Abstract:

US and Canadian natural gas producers are crossing each other's borders in what was deemed impossible in the mid-1980s. US firms are buying Canadian producers, mostly in Calgary, lured by huge gas reserves in Western Canada and aided by a stronger US dollar. One of the more notable mergers is Burlington Resources Inc's C$2.7 billion acquisition of Poco Petroleums Ltd of Calgary.

Market information - general, Crude Petroleum and Natural Gas Extraction, North America, Natural Gas

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Gulf Canada shopping stake in Indonesian unit

Article Abstract:

Gulf Canada Resources Ltd, an oil and gas company, is looking to divest its 72.4% interest in Gulf Indonesia Resources Ltd, based in Jakarta, Indonesia. The move is in line with the firm's intention to concentrate on its Canadian operations. Gulf Canada has already received several expressions of interest for the unit and is hoping to strike a deal by the middle of 1999.

Asset sales & divestitures, Indonesia, Oil & Gas Extraction, Oil and Gas Extraction, Gas industry, Petroleum mining, Gulf Canada Resources Ltd.

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Boeing to shut down Toronto plant

Article Abstract:

Chicago-based Boeing Co. declared that it would be halting the production of its smaller 717 plane and closing its historic Toronto plant, as it is shifting its attention in Canada to its Winnipeg plant to supply parts for a new generation of larger aircraft. About 350 layoffs will take effect by mid-July 2005, cutting 23 percent of Boeing's payroll in Canada.

United States, Plant shutdown, Guided Missiles, Space Vehicles, Parts, Aerospace industry, Boeing Co., BA, Facility closures

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