B.C. to end fossil fuel subsidies under new oil and gas royalty system [Business News Network (BNN) (Canada)]
Ovintiv Inc. (DE) (OVV)
Last ovintiv inc. (de) earnings: 2/19 08:54 pm
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Source: Business News Network
Premier John Horgan said the "broken system" of fossil-fuel subsidies doesn't fit with his government's climate plans or ensure people benefit from the resources. "This new regime will benefit all British Columbians and help us address the challenge of our time, quite frankly, as we meet the challenge of climate change brought home so graphically to British Columbians over the past number of summers and then into the fall and even indeed into the winter," he told a news conference Thursday. The province will eliminate the deep well royalty program, which is the largest oil and gas subsidy, he said. The minimum royalty rate for oil and gas firms will move up from three to five per cent, Horgan added. This system applies to all new wells, while it will be phased in over two years for those currently operating. B.C. is blessed with an abundance of natural resources, Horgan said. "But those resources, (we) have to be reminded every now and again, belong to all of us. And for to
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News
- Ovintiv Inc. (NYSE: OVV) had its price target raised by analysts at Morgan Stanley from $49.00 to $53.00. They now have an "equal weight" rating on the stock.MarketBeat
- Ovintiv Inc. (NYSE: OVV) had its price target raised by analysts at Jefferies Financial Group Inc. from $59.00 to $69.00. They now have a "buy" rating on the stock.MarketBeat
- Ovintiv Inc. (NYSE: OVV) had its price target raised by analysts at UBS Group AG from $62.00 to $69.00. They now have a "buy" rating on the stock.MarketBeat
- Are Robust Financials Driving The Recent Rally In Ovintiv Inc.'s (NYSE:OVV) Stock? [Yahoo! Finance]Yahoo! Finance
- Ovintiv Inc. (NYSE: OVV) is now covered by analysts at Barclays PLC. They set an "overweight" rating and a $69.00 price target on the stock.MarketBeat
OVV
Earnings
- 2/27/24 - Beat
OVV
Sec Filings
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- OVV's page on the SEC website