WorldOil First oil Another mixed outlook awaits the EandP sector Canadian energy stocks ‘decoupling’ from oil price movements The days when energy stocks and the price of oil moved in lockstep are now few and far between. Oil may go up but stocks still fall, and in Canada it’s the worst divergence on record. Innovation continues to pull Newfoundland and Labrador’s offshore sector forward Activity may pick up to near-record levels in the next several years, as the province continues to encourage technical innovation. Alberta’s oil limits finally seem to be working Alberta’s oil production curbs finally appear to be draining inventories, at least for now. U.S. Oil Giants Exxon, Chevron get boost from tax cut in Canada A corporate tax rate cut in the oil-rich province of Alberta, boosted Exxon’s second-quarter profit by almost $500 million, according to a statement Friday. Chevron noted a $180 million non-cash tax benefit from the measure in its report. Pipelines make room to meet increased demand for Canadian crude U.S. refiners want more Canadian oil, and pipeline companies are finding ways to get it to them. Alberta eases oil production limit as it exports more crude Alberta has relaxed the production limits it imposed on oil producers as it exports more barrels via rail and pipeline. Halliburton cutting frac jobs, equipment in U.S. and Canada Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by shelving unused frac gear and cutting jobs in North America. Canadian heavy crude surges as rail shipments increase Heavy Canadian crude prices narrowed to the smallest discount against U.S. benchmark futures since April as rail shipments increase. Chevron seeks to turn Canada LNG plan into all-electric design Chevron Corp. is seeking approval to modify its plans for a liquefied natural gas export facility on Canada’s Pacific Coast to an all-electric design that it says will result in the lowest greenhouse-gas emissions per ton of LNG of any large project in the world.