HARD TIMES HIT CANADIAN PETROLEUM INDUSTRY

The Canadian petroleum industry, pinched by low prices and low return on investment, is seeking relief on a number of fronts. Industry groups are campaigning for reduced royalties, relaxed foreign investment requirements, and a change in rules requiring natural gas inventories for domestic needs before exports are permitted. Meantime, several Canadian companies have reported reduced earnings for the first 9 months of this year. And BP Canada Inc. has cut staff by about 25% and will reduce

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