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-0.000725952813067135 -0.00377586206896552 0.000196914700544425 0.000725952813067135 0.000725952813067135 -0.00453720508166969 -0.00603448275862075 -0.00567150635208711
Stock impact report

Canada's oil heavyweights edge toward 'mega merger' era [Wealth Professional (Canada)]

ConocoPhillips (COP) 
Last conocophillips earnings: 4/30 07:00 am Check Earnings Report
Canada's oil patch is moving toward a “mega merger” moment just as energy stocks hit record highs and Ottawa accelerates a pivot to Asia — all while pipelines, pricing and climate targets pull in the opposite direction. According to Bloomberg , deal activity in Canada's oil and gas sector reached US$37.8bn in completed or pending transactions as of December 31, the highest level since 2017, when international majors such as Shell and ConocoPhillips sold oil sands assets to local players. Since then, consolidation has handed control of Alberta's oil sands to a tight group: Canadian Natural Resources, Cenovus Energy, Suncor Energy, ConocoPhillips and Exxon Mobil's Imperial Oil now account for roughly 85 percent of production. Bloomberg said this wave has left “a pretty short list” of medium and small oil sands names, as BD&P senior partner Grant Zawalsky put it. He said “a lot of people are asking the question whether there'll be some consolidation between these bigger players. Show less Read more
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