The energy sector had plenty going on today apart from oil prices easing back.
The energy sector had plenty going on today apart from oil prices easing back. In Calgary talk was of Trinidad Drilling announcing that it is cutting 20 per cent of its workforce and reducing wages by 7 per cent across the firm (10 per cent for executives.) There was also news that Talisman Energy’s shareholders have approved the firm’s takeover by Spain’s Repsol SA for $13 billion. Billionaire investor Warren Buffett’s Berkshire Hathaway revealed that it had ditched U$4 billion of shares in Exxon last year and bought 4 million extra shares in Canada’s Suncor and Cenovus Energy said it was hoping to raise $1.5 billion with the sale of 67.5 million common shares in a bid to improve its balance sheet.