News: OPTI Canada Inc. (OPC.TO)

OPC.TO on Toronto Stock Exchange

2.01CAD
18 Dec 2009
Price Change (% chg)

$-0.01 (-0.50%)
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Wed, Dec 9 2009

Nexen to defer Long Lake decision, lowers spending

CALGARY, Alberta, Dec 9 (Reuters) - Nexen Inc said on Wednesday it will defer a decision on expanding its Long Lake oil sands project until 2011, a year later than expected, as it works the bugs out of the project's initial phase and awaits new rules on greenhouse gas emissions.

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UPDATE 1-Opti Canada announces 2010 capital expenditure budget

* Says sanctioning of phase 2 of Long Lake project deferred

CORPORATE ASIA SNAPSHOT-Raising funds, eyeing opportunity

Dec 7 (Reuters) - Companies across Asia are tapping investors for funds as economies in the region emerge from a lengthy downturn faster and healthier than peers in Europe and the United States.

UPDATE 1-Opti says takeover bid didn't spur strategic review

* Says high debt partly responsible for strategic review (Adds analyst's comment, updates share price)

Opti says takeover bid didn't spur strategic review

* Says high debt partly responsible for strategic review

CANADA STOCKS-TSX set to rise on gold, oil; eye on Fed

TORONTO, Nov 4 (Reuters) - Toronto's main stock index could extend gains from the previous session as gold hit a record high above $1,095 per ounce on Wednesday.

UPDATE 3-Oil sands developer Opti may opt to sell itself

* No timetable for completion (Adds comments from Nexen)

Nexen says happy with current oil sands stake

CALGARY, Alberta, Nov 3 (Reuters) - Nexen Inc is happy with its current interest in the Long Lake, Alberta, oil sands project, making a further acquisition of Opti Canada Inc's stake doubtful, a Nexen official said Tuesday.

Snubbed at top table, China chases oil M&A crumbs

HONG KONG (Reuters) - China's state-owned oil giants are likely to lose out to global rivals in a race for top energy assets, as they lack experience and hit a protectionist wall, forcing them to settle for smaller, but riskier buys.

Canada's oil patch, mines tempt Asian giants

CALGARY/TORONTO (Reuters) - Canada's energy and mining sectors are riding a wave of acquisitions by Asian companies that are flush with cash and hungry for resources to fuel rapidly expanding economies, a trend not expected to let up soon.

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