Intercontinental Oil and Gas
Global Business Information For Oil And Gas
Saturday 22 February 2020
Oil and Gas Trade 101 Kindle Edition
Oil & Gas Trade 101 is a Book which teaches the Trade of Buying and Selling of petroleum products, crude oil, and Gas internationally; the book is meant for those who are looking to join the league of Crude Oil Brokers, Brokering Crude Oil and Petroleum product sales; We are brokers for the Buying and Selling of Crude Oil and Petroleum Products.
Monday 5 August 2019
Intercontinental Oil and Gas: BOOST FROM TAX CUT IN CANADA
Intercontinental Oil and Gas: BOOST FROM TAX CUT IN CANADA: US Oil Giants Exxon, Chevron Get Boost From Tax Cut In Canada. Source: Bloomberg Oil-Rich Alberta using tax benefits to draw Global I...
BOOST FROM TAX CUT IN CANADA
US Oil Giants Exxon, Chevron Get Boost From Tax Cut In Canada.Source: Bloomberg
- Oil-Rich Alberta using tax benefits to draw Global Investment
- Tax Rate could reach 8% in 2022, lower than 44 U.S. States.
- A corporate Tax Rate cut in Alberta boosted Exxon's second-quarter profit by almost $500 million. Chevron noted a $180 million non-cash tax benefit from the measure in its report.
- Alberta Premier Jason Kenney has made the tax cut a centerpiece of his effort to bring jobs and global investment back to the province, which was hit hard by the 2014 crash in global oil prices and pipeline delays.
- The province has seen international companies including Royal Dutch Shell Plc, ConocoPhillips and Total SA sell their local operations.
- The tax-supported by Kenney trimmed the corporate rate to 11% from 12%.
- It's already the lowest in Canada and will continue to decline in the coming years, reaching 8% in 2022. At that point, it will be lower than in 44 U.S. States.
- Rich Kruger, CEO of Imperial Oil Ltd., the Exxon-owned Canadian Oil-Sands company that benefited from the tax cut lauded other moves by Kenney's government, including changes to the province's carbon tax and reduction in regulations as helping to improve the environment as well. Lack of pipeline space is an issue to deal with.
- Suncor Energy Inc. and Cenovus Energy Inc. also reported substantial Q2 benefits from the measure.
Tuesday 25 December 2018
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