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Canada's Husky Energy hurt by China gas policy
Its shares fall amid Beijing's attempts to lower natural gas prices for consumers
Add BT as a preferred sourcePublished Wed, Apr 27, 2016 · 09:50 PM
Calgary
THE Chinese government's efforts to shift consumption from coal to less polluting natural gas are being felt on the other side of the world by Canadian oil and gas producer Husky Energy Inc.
Husky, controlled by Hong Kong billionaire Li Ka-shing, was pummelled on the stock market after saying it plans to defend the contract for its biggest energy project amid attempts from China to lower natural gas prices for consumers. Shares of the Calgary-based company fell 9.2 per cent to C$15.93 in Toronto on Tuesday, the biggest daily drop in almost six months.
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