Rogers Wireless said it will not offer the new BlackBerry Z30 smartphone as part of its lineup, dealing a blow to the struggling company as it tries to pull itself out of a deep hole. “We have a longstanding relationship with BlackBerry and continue to be big supporters of the company and their products,” a Rogers spokeswoman said in a statement. “The device manufacturers we work with bring a number of devices to market every year. We pick which devices to carry based on the needs of our customers and the decision not to carry this model was made several months ago.” Rogers currently carries the Blackberry Z10, Q10, and Q5, which the carrier said “can meet our customers’ demands for a BlackBerry device.” The company said “this is the way we’ve always done it,” pointing out that it declined to sell the BlackBerry Storm or the 9300. BlackBerry said the Z30 will instead be available in Canada on Bell, Telus , and MTS starting on Oct. 15. As noted by the Canadian Press, Rogers’s decision not to carry the Z30 has angered some who believe the carrier is abandoning BlackBerry in its time of need. “While some media reports have suggested that Rogers’ decision not to carry the device represents a change in our relationship with BlackBerry that’s simply not the case,” Rogers said. “We remain committed to BlackBerry and look forward to continuing to work together.” BlackBerry unveiled the Z30 in late September. As PCMag’s Sascha Segan described it , the Z30 is a “Galaxy S 4-sized maxi-Berry with a 5-inch screen, a bigger battery, and stereo speakers that runs the new BlackBerry OS 10.2.” Two days later, BlackBerry said it would drop two devices from its lineup for a total of four phones: two high-end devices and two entry-level devices in all-touch and QWERTY models. The Z30 will be the company’s high-tier smartphone, while BlackBerry will “re-tier” the Z10 so that it appeals to a more entry-level audience. More recently, however, BlackBerry announced plans to sell its business to a consortium led by Fairfax Financial Holdings Limited, which will take the troubled phone maker private in a $4.7 billion deal. Cerberus Capital Management is also reportedly interested in the company, the Wall Street Journal said . Editor’s Note: This story was updated at 2:30 p.m. ET with comment from Rogers.
Analysts fear shortages could result as imports struggle to keep up with demand. Yet south of the 49th parallel, the United States is facing a condensate glut. In the Texas Eagle Ford, condensate production accounts for as much as 30% of output.With forecasters projecting Eagle Ford production to exceed one million barrels per day by next year, much of that will be condensate. But here’s the problem. Nearby Gulf coast refineries aren’t well equipped to handle the super light oil bubbling out of the Texas shale. Over the last decade, refineries spent billions of dollars outfitting their plants to process heavy sour blends. Additionally, refining condensate isn’t profitable. The light oil doesn’t produce the higher value distillates used to make diesel or jet fuel. So with an unexpected surge in condensate production and low demand from refineries, you have a recipe for low prices. In general, Gulf coast refineries have been paying $15 per barrel less for condensate than light oil varieties. That’s great for downstream marketers. But that discount is coming right out of the pockets of shale producers. Canada needs condensate. The U.S. has too much of the stuff. The challenge is moving it. Who’s poised to profit At the moment, the only way to export condensate to Canada is through theEnbridge (NYSE: ENB ) Southern Lights pipeline which transports 180,000 bpd from Illinois to Alberta. The problem is shipping condensate from Texas to Patoka, Illinois where the line begins. Kinder Morgan Energy Partners (NYSE: KMP ) is trying to position itself as the leading condensate shipper. The company built a condensate pipeline that can move 300,000 bpd from the shale basin to the Houston area.
How to Profit From Canada’s Crude Oil Shortage
Cutler,Guest blogger / October 4, 2013 Pipelines carrying steam to wellheads and heavy oil back to the processing plant line the roads and boreal forest at a project 74 miles south of Fort McMurray, Alberta, in Canada. Todd Korol/Reuters/File Enlarge Asian countries continue to line up for Canadian energy to which the United States is unable to commit. This week Japan ‘s prime minister Shinzo Abe met with his Canadian counterpart Stephen Harper to discuss the potential for shipping liquefied natural gas (LNG) across the Pacific Ocean to Japan. Although no firm agreement was announced, Japanese newspapers speculated that the first Canadian exports might reach Japan as early as 2018 and no later than 2020. OilPrice.com offers extensive coverage of all energy sectors from crude oil and natural gas to solar energy and environmental issues. To see more opinion pieces and news analysis that cover energy technology, finance and trading, geopolitics, and sector news, please visit Oilprice.com . Recent posts The Christian Science Monitor Weekly Digital Edition This reflects, among other things, the greater difficulty that Canada has had in developing LNG export terminals. Low prices for gas from western Canada is another problem, and although there is reason to believe in a secular rise towards higher prices, U.S. producers are less affected by the current levels. On the other hand, as prices rise, there are fears in Canada of a typical bust-to-boom scenario; and for this, there is fear that Canada’s gas producers are and will continue to be ill-prepared, not even able to take advantage of the anticipated boom. (Related article: Despite Shale, OPEC Still Matters ) RECOMMENDED: US energy in five maps (infographics) Nevertheless, India is also getting in line for Canadian oil as well as gas. India’s High Commissioner Nirmal Verma was also in Ottawa this week to sign a nuclear cooperation agreement allowing uranium from Canada to be sold to India as reactor fuel. India seeks to triple in electricity production in the next decade, in part by building as many as a dozen new reactors. Agreement was actually reached three years ago, but the additional time is required in order to establish a process for independent verification that the fuel is used for peaceful purposes. In 1974, India used a reactor supplied by Canada to create the fuel for a nuclear bomb test. India is even willing to consider investment in the Energy East Pipeline, even as TransCanada has had to delay its filing of an application to the National Energy Board from this year until next year. Environmental concerns that need to be addressed during the regulatory process are partly responsible for the delay, but also it is now foreseen that the original estimate of 850,000 barrels per day (bpd) is low and should be increased to 1.1 million bpd. (Related article: Canada to Drill for Offshore North Atlantic Oil ) Energy talks between the two countries were elevated to the ministerial level last year when our visit India, and India’s energy minister will be visiting Ottawa later this month to continue the discussions. The oil-sands are doing slightly better, as the first crude-by-rail unit train terminal is set to start transporting 50,000 bpd to the U.S.
Canada and Malaysia sign deal to improve cooperation on security issues
Harper simply couldn’t compete with the attention the Chinese leader was attracting and chose to spend a low-key day touring a mosque and a maritime air base and speaking to Canadian business leaders. That’s not to say Canadians aren’t competing in Southeast Asia. The emerging economies have been a bright spot in global economic growth and a number of Canadian firms have capitalized. Marc Parent, the chief executive officer of Montreal-based CAE, says Canada punches “way above our weight” in the aerospace sector, and CAE’s flight simulators and pilot training are part of that success. A growing Southeast Asian middle class is a key driver, said Parent. And having a stream of top Canadian officials from ministers to the Governor General and now the prime minister visit the region in recent years has helped as well. “I can tell you it’s translated into increased business for us in Brunei, in the Philippines and other (regional) nations,” Parent told reporters. He was part of the round table group that met Harper on Saturday in a downtown hotel. Talisman Energy, Bombardier Rail, Teknion Furniture and several major financial institutions are among the Canadian firms already cashing in on regional growth. CAE Inc., does all the pilot training for Air Asia, a discount airline that’s the fastest growing in the region. Canadian business presence in Malaysia may be growing, but the Chinese regional colossus puts Canada-Malaysian two-way trade in sharp perspective and explains the fawning media coverage accorded President Xi’s visit. Canada-Malaysia commercial trade tops out at about $3 billion annually, while China is doing almost $100 billion dollars a year in trade with Malaysia.