The logo for the Murphy Oil Corporation appears above a trading post on the floor of the New York Stock Exchange, Tuesday, Oct. 8, 2019. THE CANADIAN RESS/AP/Richard DrewAmerican oil and gas producer Murphy Oil Corp. says it is shutting its Calgary office as part of a plan to cut costs as oil prices remain at low ebb.
The move comes about four years after Murphy agreed to sell its five per cent stake in the Syncrude oilsands mining and upgrading consortium in northern Alberta to Suncor Energy Inc.The company is a minority partner in the Hibernia and Terra Nova offshore oil projects on the East Coast and produces oil and gas from conventional wells in Alberta and B.C.
The decision came after the company said it made other cuts, including halving capital expenditures, lowering the company’s dividend and reducing executive salaries.
globebusiness Along with billions of other investment capital that has left Canada due to its unfriendly anti oil government. When Warren Buffet pulls his investments you know it is time for Blackface to go
globebusiness Alberta is being poorly managed
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