oo-op drop meaning
oo-op drop meaning
NEW YORK (AP) — Stocks wavered in afternoon trading on Wall Street Monday at the start of a holiday-shortened week. The S&P 500 rose 0.4%. A handful of technology companies helped support the gains. The Dow Jones Industrial Average slipped 63 points, or 0.2% as of 1:18 p.m. Eastern time. The tech-heavy Nasdaq composite rose 0.7%. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, rose 3%. Broadcom jumped 5.2% to also help support the broader market. Japanese automakers Honda Motor and Nissan said they are talking about combining in a deal that might also include Mitsubishi Motors. Honda rose 3.8% and Nissan rose 1.6% in Tokyo. Eli Lilly rose 3% after announcing that regulators approved Zepbound as the first and only prescription medicine for adults with sleep apnea. Department store Nordstrom fell 1.7% after it agreed to be taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal. The Conference Board said that consumer confidence slipped in December. Its consumer confidence index fell back to 104.7 from 112.8 in November. Wall Street was expecting a reading of 113.8. The unexpectedly weak consumer confidence update follows several generally strong economic reports last week. One report showed the overall economy grew at a 3.1% annualized rate during the summer, faster than earlier thought. The latest report on unemployment benefit applications showed that the job market remains solid. A report on Friday said a measure of inflation the Federal Reserve likes to use was slightly lower last month than economists expected. Worries about inflation edging higher again had been weighing on Wall Street and the Fed. The central bank just delivered its third cut to interest rates this year, but inflation has been hovering stubbornly above its target of 2%. It has signaled that it could deliver fewer cuts to interest rates next year than it earlier anticipated because of concerns over inflation. Expectations for more interest rate cuts have helped drive a 24% gain for the S&P 500 in 2024. That drive included 57 all-time highs this year. Inflation concerns have added to uncertainties heading into 2025, which include the labor market's path ahead and shifting economic policies under an incoming President Donald Trump. "Put simply, much of the strong market performance prior to last week was driven by expectations that a best-case scenario was the base case for 2025," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company Treasury yields edged higher in the bond market. The yield on the 10-year Treasury rose to 4.58% from 4.53% late Friday. European markets were mostly lower, while markets in Asia gained ground. Wall Street has several other economic reports to look forward to this week. On Tuesday, the U.S. will release its November report for sales of newly constructed homes. A weekly update on unemployment benefits is expected on Thursday. Markets in the U.S. will close early on Tuesday for Christmas Eve and will remain closed on Wednesday for Christmas.
VANCOUVER - A family of killer whales has made a rare trip into waters off downtown Vancouver for what an expert says was likely a “grocery shopping” hunt for harbour seals. Video shared on social media by False Creek Ferries shows the whales cruising past highrise towers at the entrance to False Creek on Sunday. Andrew Trites, director of the University of British Columbia’s marine mammal research unit, has identified the whales as a family group of transient orcas consisting of a mother and her three offspring. He says it’s the first time the 26-year-old mother, known as T35A, has shown up in downtown Vancouver with her children aged six, 11 and 14. Trites says the well documented family has previously been seen by marine researchers from Alaska to the Strait of Juan de Fuca south of Vancouver Island. He attributes the pod’s surprising downtown appearance to seals also changing their habits as they hide from orcas, forcing killer whales to hunt in backwater areas like False Creek. Trites says the video shows the whales moving quietly like “ghosts” to avoid alerting their prey. Killer whales have previously been spotted in False Creek, including in 2019, and in 2010 a grey whale swam all the way to the end of the inlet, near Science World. This report by The Canadian Press was first published Nov. 25, 2024.
Postecoglou praises players for Europa fight back
Opposition leader Peter Dutton has announced the long-awaited costings of the Coalition's nuclear energy transition. The Coalition claims its "reliable" energy mix, which includes converting seven end-of-life coal-fired plants into nuclear reactors, will reduce energy bills by 44 per cent. "This will make electricity reliable, it will make it more consistent, cheaper, for Australians and it will help us decarbonise as a trading economy, as we must," Dutton told reporters on Friday. However the government's Energy Minister Chris Bowen says the plan has "three fatal errors". Frontier Economics modelled the Coalition's plan at $331 billion, $263 billion less than Labor's renewable transition, however, the figure is at odds with industry experts. Hidden costs? Cheaper energy? 'Farcical' locations? Debunking the hype around nuclear Bowen says the costings incorrectly assumed Australia will need less energy in 2050. He said Dutton had "rejected the work of the CSIRO and the Australian Energy Market Operator, and fatally assumed there would be savings due to fewer transmission lines. "After months of talking about what nuclear would mean for energy bills, they couldn't even put a price on the impact of their plan on the average bills of Australians," Bowen said. He also disputed figures within the Coalition's plan, quoting the government's policy at $600 billion. Bowen argued the government plan would cost $122 billion, citing a forecast by the national energy grid operator. The Opposition's energy spokesperson Ted O'Brien defended the independent costings, stating that any exclusions were based on "what Labor has been modelling". "So people say something that been excluded like the cost of EVs and home batteries, well, that is because Labor's modelling excludes that and in order for us to compare their model to our model we had to adopt some of those basic assumptions," he said. Dutton said Labor's support for nuclear submarines meant there were "no safety concerns around nuclear", as he pushed for reversing Australia's nuclear energy ban. Power bill impact: The energy price decision affecting a million households Labor's plan is to boost renewables to 80 per cent of the grid by 2030 and increase the figure to 90 per cent by 2050, with the remainder made up of storage and gas. A crucial difference between the two proposals is energy output, with the Coalition's preferred plan producing 311TwH whereas Labor's Step Change plans to deliver 450Twh. CSIRO report casts doubt over Coalition costings A report released just ahead of Dutton unveiling the Coalition's modelling found deferring coal power station closures would increase Australia's carbon emissions in the medium term. For the seventh straight year, the GenCost 2024-25 report found renewable energy sources are the lowest-cost of any new-build electricity-generating technology. Nuclear energy generation would be 1.5 to two times more expensive than large-scale solar, according to the analysis by the national science agency CSIRO and the Australian Energy Market Operator. Will nuclear lead to cheaper energy prices? Experts weigh in Experts have said energy market operators will need to establish new connection points to safely supply the national electricity grid. Frontier Economics cost Labor's transition around $600 billion. Energy Minister Chris Bowen has rubbished this number, saying the government's plan would cost $122 billion, citing a forecast made by the national energy grid operator. "They're making it up as they go along," Bowen told ABC TV of the Coalition's costings on Friday. Bowen said preliminary reports of the Coalition's plan ahead of Friday's full announcement that nuclear would need fewer transmission lines — therefore bringing down the estimated cost — was incorrect. Source: AAP "I'm not sure how they'll get the nuclear power into the grid, maybe by carrier pigeon if they're going to assert if somehow you'll need less transmission," he said. "They have had to make some very heroic assumptions here, and they have had to really stretch the truth to try to get some very dodgy figures." Keeping coal-fired power plants open beyond their lifespan was a threat to energy reliability, with outages and breakdowns happening on a daily basis, Bowen said. 'Misleading': Reaction to Coalition's nuclear plan The Coalition is pushing for an end to Australia's nuclear ban but has faced opposition from states who strongly support the government's renewable transition. The reaction from experts has been swift, with climate councillor and economist Nicki Hutley stating that the Coalition has "knowingly mislead Australians on true costs of nuclear". The Climate Council identified four ways the Coalition was "cooking the books", including underestimating costs, the timeline of reactors, not factoring the costs of keeping coal-fired generators operational and excluding costs such as a managing nuclear waste from their figures. 'Economic insanity' or 'cheaper electricity'? Peter Dutton reveals nuclear power locations Nuclear power doesn't stack up for Australian families or businesses, iron ore company Fortescue's executive chairman Andrew Forrest said on Friday. "As our national science agency has shown, 'firmed' solar and wind are the cheapest new electricity options for all Australians," he said in a statement. Forrest, who is a big player in the non-fossil fuels energy market, said that without continued action on "low-cost, high-efficiency renewable energy", Australians will be left with "pricier power and crumbling coal stations".Shares of ELEMENTS Linked to the MLCX Grains Index – Total Return ( NYSEARCA:GRU – Get Free Report ) traded up 0.1% during mid-day trading on Friday . The company traded as high as $5.49 and last traded at $5.43. 2,600 shares were traded during mid-day trading, a decline of 79% from the average session volume of 12,228 shares. The stock had previously closed at $5.43. ELEMENTS Linked to the MLCX Grains Index – Total Return Stock Performance The company has a 50 day moving average of $5.43 and a 200-day moving average of $5.43. Recommended Stories Receive News & Ratings for ELEMENTS Linked to the MLCX Grains Index - Total Return Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ELEMENTS Linked to the MLCX Grains Index - Total Return and related companies with MarketBeat.com's FREE daily email newsletter .
Pune: Cyber cheats dupe citizens of nearly ₹ 1 crore in six cases lodged on December 22. A 59-year-old resident of Sinhagad Road has lodged a complaint with the Parvati police stating that he was cheated of ₹ 22.89 lakh while he was trying to book hotel room for a prominent ashram in Gujarat. The cyber cheats claiming to provide a refund to the victim cheated him. In the second case, a 25-year-old professional was defrauded of ₹ 29.60 lakh in a task fraud case. A 34-year-old resident lost ₹ 9 lakh to fraudsters who promised high returns in online share trading ventures. In the fourth case, a 26-year-old resident has lodged a complaint with the Lonikand police stating that he was cheated of ₹ 10.30 lakh after he was gulled into online share trading bait. In the fifth case, a 62-year-old resident was cheated of ₹ 10 lakh by unidentified fraudsters who goaded him to invest money in online share trading promising exorbitant returns. A 54-year-old resident was cheated of ₹ 15.84 lakh by unidentified fraudsters in the name of online share trading. The Pune cyber police have advised citizens to be cautious while transacting online and to verify the authenticity of websites, emails, and social media profiles before sharing personal information or making payments.A top-5 college basketball showdown kicks off the night session at the 2024 Maui Invitational , with the 4th-ranked Auburn Tigers taking on the No. 5 Iowa State Cyclones. The game is scheduled to start at 9 p.m. ET (4 p.m. HT) with TV coverage on ESPNU and streaming on-demand . How to watch: Live streams of the Auburn vs. Iowa State game are available with offers from FuboTV (free trial) , SlingTV (low intro rate) and DirecTV Stream (free trial) . For a limited time, FuboTV is offering $30 off the first month after the free trial period. With $30 offer, plans start at $49.99. #4 Auburn Tigers (4-0) vs. #5 Iowa State Cyclones (3-0) Maui Invitational matchup at a glance When: Monday, Nov. 25 at 9 p.m. ET (4 p.m. HT) Where: Lahaina Civic Center, Maui, Hawaii TV channel: ESPNU Live streams: FuboTV (free trial) | SlingTV (low intro rate) | DirecTV Stream (free trial) Auburn has a signature win already and three other victories by at least 23 points over its first four contests of the 2024-’25 season. The schedule picks up for coach Bruce Pearl and his program in Maui with Monday’s matchup against Iowa State, followed by matchup against No. 11 Duke at Cameron Indoor Stadium on Wednesday night. Iowa State also plays ranked foes in its next two games, which are the Cyclones’ first two real challenges of the year. They head into Maui as 4.5-point underdogs to Auburn with their 3-0 record and wins over Mississippi Valley State (83-44), Kansas City (82-56) and IU-Indianapolis (87-52). RECOMMENDED • pennlive .com How to watch #16 Colorado Buffaloes vs. Kansas football: Time, TV channel, FREE live streams Nov. 23, 2024, 12:02 p.m. How to watch #8 Miami vs. Wake Forest football: Time, TV channel, FREE live streams Nov. 23, 2024, 7:00 a.m. Auburn Tigers vs. Iowa State Cyclones: Know your live streaming options FuboTV (free trial) - excellent viewer experience with huge library of live sports content; free trial lengths vary; monthly rate after free trial starts at $49.99 after current $30 discount offer. SlingTV (low intro rate) - discounted first month is best if you’ve run out of free trials or you’re in the market for 1+ month of TV DirecTV Stream (free trial) - not the same level of viewer experience as FuboTV, but the standard 7-day free trial is still the longest in streaming. The Tigers and Cyclones are set for a 9 p.m. ET start on ESPNU. Live streams are available from FuboTV (free trial) , DirecTV Stream (free trial) and SlingTV (low intro rate) .Highlighted by Romeo’s Kaili, Belicia and Amarisa, the Manuel wresting dynasty lives onLithium Chile Inc. ( OTCMKTS:LTMCF – Get Free Report )’s share price was up 10.1% on Friday . The stock traded as high as $0.58 and last traded at $0.57. Approximately 22,059 shares were traded during trading, a decline of 31% from the average daily volume of 32,082 shares. The stock had previously closed at $0.52. Lithium Chile Stock Performance The company’s fifty day moving average price is $0.47 and its two-hundred day moving average price is $0.46. Lithium Chile Company Profile ( Get Free Report ) Lithium Chile Inc engages in the acquisition and development of lithium properties in Chile and Argentina. The company also explores for gold, silver, and copper deposits. It holds interests in a lithium property portfolio consisting of approximately 111,978 hectares in Chile and 20,800 hectares in Argentina; and owns 5 properties totaling 21,329 hectares in Chile. Featured Articles Receive News & Ratings for Lithium Chile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithium Chile and related companies with MarketBeat.com's FREE daily email newsletter .
Saquon Barkley tops 2,000 yards rushing and moves within 100 of Dickerson's record PHILADELPHIA (AP) — Saquon Barkley became the ninth running back in NFL history to top 2,000 yards rushing in a season, reaching the milestone with a 23-yard run in the fourth quarter against the Dallas Cowboys. That rush gave Barkley 2,005 yards with one game left and left him exactly 100 yards from Eric Dickerson’s record of 2,105, set in 1984 for the Los Angeles Rams. Barkley could potentially top the record in next week’s finale against the New York Giants. However, that game will be mostly meaningless for the Eagles, who could opt to rest Barkley to protect him from injury ahead of the playoffs. Bills clinch the AFC's No. 2 seed with a 40-14 rout of the undisciplined Jets ORCHARD PARK, N.Y. (AP) — Josh Allen threw two touchdown passes and ran for another score and the Buffalo Bills clinched the AFC’s No. 2 seed with a 40-14 rout of the New York Jets. The Bills put the game away by capitalizing on two Jets turnovers and scoring three touchdowns over a 5:01 span in the closing minutes of the third quarter. Buffalo’s defense forced three takeaways overall and sacked Aaron Rodgers four times, including a 2-yard loss for a safety in the second quarter. The five-time defending AFC East champion Bills improved to 13-3 to match a franchise single-season record. Saquon Barkley tops 2,000 yards rushing as Eagles beat Cowboys 41-7 to clinch NFC East PHILADELPHIA (AP) — Saquon Barkley rushed for 167 yards to top 2,000 on the season, backup quarterback Kenny Pickett ran and threw for scores before departing with injured ribs, and the Philadelphia Eagles clinched the NFC East title by routing the Dallas Cowboys 41-7. Barkley has 2,005 yards and needs 101 in next week’s mostly meaningless regular-season finale to top Eric Dickerson and his 2,105 yards for the Los Angeles Rams in 1984. The Eagles led 24-7 in the third quarter when Pickett was drilled by defensive end Micah Parsons, ending his first start in place of the concussed Jalen Hurts. Penn State coach James Franklin says Nick Saban should be college football's commissioner SCOTTSDALE, Ariz. (AP) — Penn State coach James Franklin believes college football needs a commissioner and he even has a candidate in mind: former Alabama coach Nick Saban. Franklin made the suggestion Sunday at Penn State’s College Football Playoff quarterfinals media day ahead of the Fiesta Bowl. The sixth-seeded Nittany Lions are preparing for their game against No. 3 seed Boise State on Tuesday. The veteran coach was responding to a question about Penn State’s backup quarterback situation after Beau Pribula transferred to Missouri before the playoff. Pribula’s decision highlighted some of the frustrating aspects of a new college football world in the Name, Image and Likeness era and the transfer portal, forcing players to make tough decisions at inopportune times. Mayfield throws 5 TD passes and Bucs keep playoff, NFC South hopes alive with 48-14 rout of Panthers TAMPA, Fla. (AP) — Baker Mayfield threw for 359 yards and five touchdowns to help the Tampa Bay Buccaneers keep their division and playoff hopes alive with a 48-14 rout of the Carolina Panthers. The team’s fifth win in the past six weeks nudged the first-place Bucs a half-game ahead of Atlanta for the best record in the NFC South at 9-7. The Falcons played on the road later Sunday night at Washington. Atlanta holds the tiebreaker in the division race and can end Tampa Bay’s three-year reign as NFC South champions by beating the Commanders and winning again next week at home against the last-place Panthers. Lakers send D'Angelo Russell to Nets in trade for Dorian Finney-Smith, Shake Milton LOS ANGELES (AP) — The Los Angeles Lakers have traded guard D’Angelo Russell to the Brooklyn Nets for forward Dorian Finney-Smith and guard Shake Milton. The Lakers also sent forward Maxwell Lewis and three second-round draft picks to Brooklyn. Russell averaged a career-low 12.4 points per game for the Lakers this season in a diminished role under new coach JJ Redick. Finney-Smith is a steady 3-and-D wing who fills an obvious need for the Lakers. Russell is being traded by the Lakers to the Nets for the second time in his career. He also made the move in 2017. LeBron James at 40: A milestone birthday arrives Monday for the NBA's all-time scoring leader When LeBron James broke another NBA record earlier this month, the one for most regular-season minutes played in a career, his Los Angeles Lakers teammates handled the moment in typical locker room fashion. They made fun of him. Dubbed The Kid from Akron, with a limitless future, James is now the 40-year-old from Los Angeles with wisps of gray in his beard, his milestone birthday coming Monday, one that will make him the first player in NBA history to play in his teens, 20s, 30s and 40s. He has stood and excelled in the spotlight his entire career. Rising Sun Devils: Arizona State looks to pull off another big surprise at the Peach Bowl ATLANTA (AP) — As they prepare for Arizona State’s biggest game in nearly three decades, the guys who made it happen aren’t the least bit surprised to be rated a nearly two-touchdown underdog in the College Football Playoff. That’s a familiar position for the Sun Devils. They've been an underdog most of the season. Of the eight teams still vying for a national championship, there’s no bigger surprise than 11-2 Arizona State. The Sun Devils went 3-9 a year ago and were picked to finish dead last in their first season in the Big 12 Conference. Now, they're getting ready to face Texas in the Peach Bowl quarterfinal game on New Year’s Day. Penn State's polarizing QB Drew Allar puts critics on mute and keeps winning games SCOTTSDALE, Ariz. (AP) — Even when Penn State quarterback Drew Allar gets some praise, it’s usually a backhanded compliment. They say he’s a good game manager and stays within himself, or that he doesn’t try to do too much. They mention he might not be flashy, but he gives the team a chance to win. And here’s the thing about Penn State since Allar stepped under center: The Nittany Lions have won games. A lot of them. Sometimes that’s hard to remember considering the lukewarm reception he often gets from fans. The polarizing Allar has another chance to quiet his critics on Tuesday, when Penn State plays Boise State in the College Football Playoff quarterfinals at the Fiesta Bowl. Feels like 1979: Nottingham Forest moves into 2nd place behind rampant Liverpool in Premier League The Premier League table is starting to have a 1979 kind of feel to it with Liverpool at the top of the standings and Nottingham Forest in second place as the closest challenger. Liverpool padded its lead with a 5-0 rout of West Ham on Sunday while upstart Nottingham Forest climbed into second place by beating Everton 2-0 to continue its surprising push for a Champions League place. Manchester City marked Pep Guardiola's 500th game in charge by beating Leicester 2-0 but is still 14 points behind Liverpool having played a game more.FOXBOROUGH, Mass. (AP) — The NFL removed New England Patriots safety Jabrill Peppers from the commissioner exempt list on Monday, making him eligible to participate in practice and play in the team’s games. Peppers missed seven games since being placed on the list on Oct. 9 after he was arrested and charged with shoving his girlfriend’s head into a wall and choking her. The league said its review is ongoing and is not affected by the change in Peppers’ roster status. Braintree, Massachusetts, police said they were called to a home for an altercation between two people on Oct. 7, and a woman told them Peppers choked her. Police said they found at the home a clear plastic bag containing a white powder, which later tested positive for cocaine. Peppers, 29, pleaded not guilty in Quincy District Court to charges of assault and battery with a dangerous weapon and possession of a Class “B” substance believed to be cocaine. At a court appearance last week a trial date was set for Jan. 22. “Any act of domestic violence is unacceptable for us,” Patriots coach Jerod Mayo said after the arrest. “With that being said, I do think that Jabrill has to go through the system, has to continue to go through due process. We’ll see how that works out.” A 2017 first-round draft choice by Cleveland, Peppers spent two seasons with the Browns and three with the New York Giants before coming to New England in 2022. He was signed to an extension this summer. He played in the first four games of the season and missed one with a shoulder injury before going on the exempt list, which allows NFL Commissioner Roger Goodell to place a player on paid leave while reviewing his case. AP NFL:
CALGARY, Alberta--(BUSINESS WIRE)--Dec 12, 2024-- Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its 2025 financial guidance and provided a business update. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241212048876/en/ Highlights Business Update Pembina anticipates a record setting financial year in 2024 reflecting the positive impact of recent acquisitions, growing volumes in the WCSB, and a strong contribution from the marketing business. As expected, volumes in the conventional pipelines business have strengthened in the fourth quarter relative to the first three quarters of the year. In 2024, the Company meaningfully advanced its strategy through the full consolidation of Alliance Pipeline and Aux Sable (the "Alliance/Aux Sable Transaction"), and by reaching a positive final investment decision on the Cedar LNG Project. These two accomplishments highlight Pembina’s focus on strengthening the existing franchise, increasing exposure to resilient end-use markets, and accessing global market pricing for Canadian energy products. In addition, Pembina Gas Infrastructure ("PGI") announced transactions with Veren Inc. and Whitecap Resources Inc., creating opportunities with attractive economics that are expected to enhance asset utilization, capture future volumes, and benefit Pembina’s full value chain. Through these two transactions, we are realizing the vision set forth with the creation of PGI in 2022. Other accomplishments over the past year include the completion of the $430 million Phase VIII Peace Pipeline Expansion and the $90 million NEBC MPS Expansion, on time and under budget; sanctioning $210 million (net to Pembina) of new projects, including the Wapiti Expansion and K3 Cogeneration Facility; and entering into long-term agreements with Dow Chemical Canada to supply up to 50,000 barrels per day ("bpd") of ethane for their Path2Zero Project (the "Dow Supply Agreement"). Through its extensive asset base and integrated value chain, Pembina can provide a full suite of transportation and midstream services across multiple hydrocarbons – natural gas, crude oil, condensate, and NGL. This uniquely positions the Company to benefit from a robust, multi-year growth outlook for the WCSB driven by transformational developments that include the recent completion of the Trans Mountain Pipeline expansion, new West Coast liquefied natural gas ("LNG") and NGL export capacity, and the development of new petrochemical facilities creating significant demand for ethane and propane. Growing production and demand for services in the WCSB continues to provide opportunities to increase utilization on existing assets and pursue expansion opportunities. As attention turns to 2025, Pembina is focused on several key priorities including: Alliance Pipeline CER Toll Review The CER initiated a review of Alliance Pipeline’s tolls, which were previously approved by the CER. As such, the CER has ordered Alliance Pipeline to submit for approval a detailed toll application justifying why the current tolling methodology remains compliant with the Canadian Energy Regulator Act, or a new tolling methodology application. Likewise, the CER has ordered that the current tolls shall be deemed interim tolls until resolution of the above. Alliance Pipeline's tolls for the Canadian segment of the pipeline are approved by the CER, while its tolls for the United States segment are approved by the Federal Energy Regulatory Commission. Alliance Pipeline's Canadian long-term firm service tolls have remained level since they were approved by the CER in 2015, while its full path tolls to Chicago have declined by approximately 15 percent. In comparison, tolls on alternative systems have increased by approximately 30 percent. Likewise, Alliance Pipeline has operated at an industry leading reliability rate. Furthermore, Alliance Pipeline remains an ‘at-risk’ commercial model where returns and cost recovery are squarely driven by the customer demand for its service and Alliance Pipeline's ability to efficiently provide such service. By contrast, the competitive alternatives and the majority of CER regulated Group 1 natural gas pipelines' returns are not materially exposed to volume or cost recovery risk. Alliance Pipeline is working collaboratively with its stakeholders through the CER review process and will remain focused on delivering the highest standards of service that customers have come to expect. Pembina will work expeditiously throughout 2025 with shippers towards a negotiated solution, in accordance with all CER direction. Approximately 60 percent of the adjusted EBITDA contribution from Alliance Pipeline is generated from the Canadian portion of the pipeline. Pembina’s 2025 adjusted EBITDA guidance, discussed below, assumes the existing toll is in effect for the full year. Board of Directors Appointment Pembina is pleased to announce that Mr. Alister Cowan has been appointed to the board of directors effective December 3, 2024. Mr. Cowan has over 20 years of experience in the energy industry and has significant financial executive level experience at various public companies. In 2023, he was Executive Advisor of Suncor Energy Inc. ("Suncor") and was previously Chief Financial Officer of Suncor from 2014 to 2023 where he oversaw financial operations, accounting, investor relations, treasury, tax, internal audit, and enterprise risk management. Prior to joining Suncor, Alister was Chief Financial Officer of Husky Energy Inc. from 2008 to 2014. Before that, he was Executive Vice President and Chief Financial Officer and Chief Compliance Officer of British Columbia Hydro and Power Authority. Mr. Cowan is a non-executive director of The Chemours Company and of Smiths Group PLC. He has a Bachelor of Arts in Accounting and Finance from Heriot-Watt University and is a member of the Institute of Chartered Accountants of Scotland. Mr. Cowan has also been appointed to the audit committee. "The board of directors is excited to welcome Alister, and we look forward to working with him. Alister is a seasoned financial executive with extensive experience in Canadian energy. We are sure to benefit from his contribution as we work together to ensure Pembina's continued success during a transformational period of growth in the Canadian oil and gas industry," said Henry Sykes, Chair of the Board. 2025 Guidance Pembina is anticipating 2025 adjusted EBITDA of $4.2 billion to $4.5 billion. Relative to the midpoint of Pembina’s adjusted EBITDA guidance range for 2024, the major factors driving the outlook for 2025 adjusted EBITDA include: Pembina has hedged approximately 32 percent of its 2025 frac spread exposure. For 2025, the weighted average price of Pembina's frac spread hedges, excluding transportation and processing costs, is approximately C$36 per barrel, which compares to the prevailing 2025 forward price at the end of November 2024 of approximately C$37 per barrel. The mid-point of the 2025 adjusted EBITDA guidance range includes a forecasted contribution from the Marketing & New Ventures segment of $550 million. Excluding the contribution from the Marketing & New Ventures segment, the midpoint of the 2025 guidance range reflects an approximately 5.5 percent increase in fee-based adjusted EBITDA, relative to the forecast for 2024. Further, Pembina remains on-track to achieve four to six percent compound annual growth of fee-based adjusted EBITDA per share from 2023-2026. The lower and upper ends of the guidance range are framed primarily as a function of (1) commodity prices and the resulting contribution from the marketing business; (2) interruptible volumes on key systems; and (3) the U.S./Canadian dollar exchange rate. Current income tax expense in 2025 is anticipated to be $415 million to $470 million as Pembina will continue to benefit from the availability of tax pools from assets recently placed into service. Pembina's 2025 adjusted EBITDA may be directly impacted by market-based prices as follows: Key Variable 2025 Guidance Midpoint Assumption Sensitivity Impact on Adjusted EBITDA ($millions) (1) AECO / Station 2 Natural Gas (CAD/GJ) (2) $1.94 ± $0.50 ± 20 Chicago Natural Gas (USD/MMbtu) $2.90 ± $0.50 ± 49 Mont Belvieu Propane (USD/usg) $0.80 ± $0.10 ± 70 Foreign Exchange Rate (USD/CAD) $1.39 ± $0.05 ± 50 Includes the impact of Pembina's hedging program. In addition, Pembina has asymmetric exposure to AECO natural gas prices through a commercial contract with a customer, where Pembina benefits as AECO price rises above $3.00/GJ but does not have downside risk. 2025 Capital Investment Pembina's 2025 capital program is expected to be allocated as follows: ($ millions) 2025 Budget (1) Pipelines Division $330 Facilities Division $345 Marketing & New Ventures Division $15 Corporate $55 Capital Expenditures $745 Contributions to Equity Accounted Investees $355 Capital Expenditures and Contributions to Equity Accounted Investees $1,100 Pipelines Division capital expenditures primarily relate to sustaining capital, a terminal expansion within the conventional pipeline system, development spending on potential future projects, including the Fox Creek-to-Namao Peace Pipeline Expansion, and investments in smaller growth projects, including various laterals and terminals. Capital expenditures in the Facilities Division primarily relate to construction of the RFS IV Expansion, smaller growth projects, and sustaining capital spending. Capital expenditures within the Marketing and New Ventures Division and the Corporate segment are primarily targeted at information technology enhancements to further the Company's continuous improvement aspirations. Contributions to Equity Accounted Investees includes approximately $200 million of contributions to Cedar LNG to fund the construction of the Cedar LNG Project, and contributions to PGI to fund development of the Wapiti Expansion, K3 Cogeneration Facility, as well as development activities related to the previously announced agreements with Veren Inc. and Whitecap Resources Inc. The Company's 2025 capital program includes: In addition to the 2025 capital investment program detailed above, Pembina is in development of potential additional projects that, if sanctioned, would increase the 2025 capital program by up to $200 million. These projects primarily include pipeline and terminal upgrades in support of volume growth in NEBC, the Fox Creek-to-Namao Peace Pipeline Expansion, investments related to the Dow Supply Agreement, including the addition of a de-ethanizer tower at RFS III within the Redwater Complex, and optimization of the Prince Rupert Terminal to allow for the use of larger vessels, which would reduce per unit costs. Capital Allocation Pembina continues to execute its strategy within a fully funded model and consistent with its financial guardrails. Within the 2025 adjusted EBITDA guidance range, Pembina expects to generate positive free cash flow with all 2025 capital investment program scenarios being fully funded by cash flow from operating activities, net of dividends. Under prevailing market and economic conditions, Pembina expects to prioritize the use of excess free cash flow to debt repayment in 2025. As has been our approach since 2021, Pembina will continue to evaluate the merits of debt repayment relative to share repurchases while considering expected future funding requirements along with prevailing market conditions and the risk-adjusted returns of the associated alternatives. Pembina expects to exit 2025 with a proportionately consolidated debt-to-adjusted EBITDA ratio of 3.4 to 3.7 times. Excluding the debt related to the construction of the Cedar LNG project this ratio would be 3.2 to 3.5 times. About Pembina Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for 70 years. Pembina owns an integrated network of hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit www.pembina.com . Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive. Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division. Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com . Forward-Looking Information and Statements This news release contains certain forward-looking information and statements (collectively, "forward-looking statements"), including forward-looking statements within the meaning of the "safe harbor" provisions of applicable securities legislation, that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "continue", "anticipate", "schedule", "will", "expects", "estimate", "potential", "planned", "future", "outlook", "strategy", "project", "trend", "commit", "maintain", "focus", "ongoing", "believe" and similar expressions suggesting future events or future performance. In particular, this news release contains forward-looking statements, including certain financial outlooks, pertaining to, without limitation, the following: Pembina's anticipated 2025 adjusted EBITDA, 2025 capital investment program costs, 2025 year-end proportionately consolidated debt-to-adjusted EBITDA ratio and current income tax expenses in 2025; Pembina's capital allocation plans, including with respect to debt repayment and share repurchases; expected cash flow from operating activities in 2025 and the uses thereof; 2024 year-end financial results, including the expectation that 2024 will be a record setting financial year; expectations with respect to the impacts of the Dow Supply Agreement and the transactions with Veren Inc. and Whitecap Resources Inc., as well as future actions taken in relation thereto; future pipeline, processing, fractionation and storage facility and system operations and throughput levels; Pembina's corporate strategy and the development and expected timing of new business initiatives and growth opportunities, including the anticipated timing and impacts thereof; expectations about industry activities and development opportunities, as well as the anticipated benefits and timing thereof; expectations about the demand for services, including expectations in respect of increased utilization across Pembina's assets, future tolls and volumes; planning, construction, capital expenditure and cost estimates, schedules, locations, regulatory and environmental applications and approvals, expected capacity, incremental volumes, power output, project completion and in-service dates, rights, activities and operations with respect to planned construction of, or expansions on, pipelines systems, gas services facilities, processing and fractionation facilities, terminalling, storage and hub facilities and other facilities or infrastructure; the development and anticipated benefits of Pembina's new projects and developments, including the K3 Cogeneration Facility, the Cedar LNG Project, the Wapiti Expansion, the Taylor to Gordondale Project, Fox Creek-to-Namao Peace Pipeline Expansion and the RFS IV Expansion, including the completion and timing thereof; expectations regarding CER's review of Alliance Pipeline's tolls, including the timing and outcome thereof and steps taken in connection therewith; the impact of current and future market conditions on Pembina; Pembina's hedging strategy and expected results therefrom; Pembina's capital structure, including future actions that may be taken with respect thereto and expectations regarding future uses of cash flows and uses thereof, repayments of existing debt, new borrowings and securities issuances; and Pembina's commitment to, and ability to maintain, its financial guardrails. The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news release regarding, among other things: oil and gas industry exploration and development activity levels and the geographic region of such activity; that favourable market conditions exist, and that Pembina has available capital for share repurchases, repayment of debt and funding its capital expenditures; the success of Pembina's operations; prevailing commodity prices, interest rates, carbon prices, tax rates and exchange rates; the ability of Pembina to maintain current credit ratings; the availability of capital to fund future capital requirements relating to existing assets and projects; future operating costs; geotechnical and integrity costs; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; prevailing regulatory, tax and environmental laws and regulations; maintenance of operating margins; and certain other assumptions in respect of Pembina's forward-looking statements detailed in Pembina's Annual Information Form for the year ended December 31, 2023 (the "AIF") and Management's Discussion and Analysis for the year ended December 31, 2023 (the "Annual MD&A"), which were each filed on SEDAR+ on February 22, 2024, as well as in Pembina's Management's Discussion and Analysis dated November 5, 2024 for the three and nine months ended September 30, 2024 (the "Interim MD&A") and from time to time in Pembina's public disclosure documents available at www.sedarplus.ca , www.sec.gov and through Pembina's website at www.pembina.com . Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties that could cause actual events or results to differ materially, including, but not limited to: the regulatory environment and decisions and Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements with Pembina or one or more of its affiliates; actions taken by governmental or regulatory authorities and changes in legislation (including uncertainty with respect to the interpretation of the recently enacted Bill C-59 and related amendments to the Competition Act (Canada)); the ability of Pembina to acquire or develop the necessary infrastructure in respect of future development projects; fluctuations in operating results; adverse general economic and market conditions in Canada, North America and worldwide; the ability to access various sources of debt and equity capital on acceptable terms; changes in credit ratings; counterparty credit risk; and certain other risks and uncertainties detailed in the AIF, Annual MD&A, Interim MD&A and from time to time in Pembina's public disclosure documents available at www.sedarplus.ca , www.sec.gov and through Pembina's website at www.pembina.com . This list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause actual results to differ materially from those predicted, forecasted or projected by forward-looking statements contained herein. The forward-looking statements contained in this news release speak only as of the date hereof. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. Management approved the 2025 adjusted EBITDA, 2025 capital investment program costs, 2025 proportionately consolidated debt-to-adjusted EBITDA and 2025 income tax expense guidance contained herein as of the date of this news release. The purpose of these financial outlooks is to assist readers in understanding Pembina's expected and targeted financial results, and this information may not be appropriate for other purposes. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Non-GAAP and Other Financial Measures Throughout this news release, Pembina has disclosed certain financial measures and ratios that are not specified, defined or determined in accordance with GAAP and which are not disclosed in Pembina's financial statements. Non-GAAP financial measures either exclude an amount that is included in, or include an amount that is excluded from, the composition of the most directly comparable financial measure specified, defined and determined in accordance with GAAP. Non-GAAP ratios are financial measures that are in the form of a ratio, fraction, percentage or similar representation that has a non-GAAP financial measure as one or more of its components. These non-GAAP financial measures and ratios, together with financial measures and ratios specified, defined and determined in accordance with GAAP, are used by management to evaluate the performance and cash flows of Pembina and its businesses and to provide additional useful information respecting Pembina's financial performance and cash flows to investors and analysts. In this news release, Pembina has disclosed adjusted EBITDA, a non-GAAP financial measure, and proportionately consolidated debt-to-adjusted EBITDA, a non-GAAP ratio, which that do not have any standardized meaning under International Financial Reporting Standards ("IFRS") and may not be comparable to similar financial measures or ratios disclosed by other issuers. Such financial measures and ratios should not, therefore, be considered in isolation or as a substitute for, or superior to, measures and ratios of Pembina's financial performance or cash flows specified, defined or determined in accordance with IFRS, including revenue or earnings. Except as otherwise described herein, these non-GAAP financial measures and non-GAAP ratios are calculated on a consistent basis from period to period. Specific reconciling items may only be relevant in certain periods. Below is a description of each non-GAAP financial measure and non-GAAP ratio disclosed in this news release, together with, as applicable, disclosure of the most directly comparable financial measure that is determined in accordance with GAAP to which each non-GAAP financial measure relates and a quantitative reconciliation of each non-GAAP financial measure to such directly comparable GAAP financial measure. Additional information relating to such non-GAAP financial measures and non-GAAP ratios, including disclosure of the composition of each non-GAAP financial measure and non-GAAP ratio, an explanation of how each non-GAAP financial measure and non-GAAP ratio provides useful information to investors and the additional purposes, if any, for which management uses each non-GAAP financial measure; an explanation of the reason for any change in the label or composition of each non-GAAP financial measure and non-GAAP ratio from what was previously disclosed; and a description of any significant difference between forward-looking non-GAAP financial measures and the equivalent historical non-GAAP financial measures, is contained in the "Non-GAAP & Other Financial Measures" section of the Annual MD&A, which information is incorporated by reference in this news release. The Annual MD&A is available on SEDAR+ at www.sedarplus.ca , EDGAR at www.sec.gov and Pembina's website at www.pembina.com . Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization Adjusted EBITDA is a non-GAAP financial measure and is calculated as earnings before net finance costs, income taxes, depreciation and amortization (included in operations and general and administrative expense) and unrealized gains or losses on commodity-related derivative financial instruments. The exclusion of unrealized gains or losses on commodity-related derivative financial instruments eliminates the non-cash impact of such gains or losses. Adjusted EBITDA also includes adjustments to earnings for losses (gains) on disposal of assets, transaction costs incurred in respect of acquisitions, dispositions and restructuring, impairment charges or reversals in respect of goodwill, intangible assets, investments in equity accounted investees and property, plant and equipment, certain non-cash provisions and other amounts not reflective of ongoing operations. In addition, Pembina's proportionate share of results from investments in equity accounted investees with a preferred interest is presented in adjusted EBITDA as a 50 percent common interest . These additional adjustments are made to exclude various non-cash and other items that are not reflective of ongoing operations. The equivalent historical non-GAAP financial measure to 2025 adjusted EBITDA guidance is adjusted EBITDA for the year ended December 31, 2023. 12 Months Ended December 31, 2023 Pipelines Facilities Marketing & New Ventures Corporate & Inter-segment Eliminations Total ($ millions, except per share amounts) Earnings (loss) 1,840 610 435 (696) 1,776 Income tax expense — — — — 413 Adjustments to share of profit from equity accounted investees and other 172 438 84 — 694 Net finance costs 28 9 4 425 466 Depreciation and amortization 414 159 46 44 663 Unrealized loss from derivative instruments — — 32 — 32 Impairment reversal (231) — — — (231) Transaction costs incurred in respect of acquisitions, gain on disposal of assets and non-cash provisions 11 (3) (4) 7 11 Adjusted EBITDA 2,234 1,213 597 (220) 3,824 Adjusted EBITDA from Equity Accounted Investees In accordance with IFRS, Pembina's jointly controlled investments are accounted for using equity accounting. Under equity accounting, the assets and liabilities of the investment are presented net in a single line item in the Consolidated Statement of Financial Position, "Investments in Equity Accounted Investees". Net earnings from investments in equity accounted investees are recognized in a single line item in the Consolidated Statement of Earnings and Comprehensive Income "Share of Profit from Equity Accounted Investees". The adjustments made to earnings, in adjusted EBITDA above, are also made to share of profit from investments in equity accounted investees. Cash contributions and distributions from investments in equity accounted investees represent Pembina's share paid and received in the period to and from the investments in equity accounted investees. To assist in understanding and evaluating the performance of these investments, Pembina is supplementing the IFRS disclosure with non-GAAP proportionate consolidation of Pembina's interest in the investments in equity accounted investees. Pembina's proportionate interest in equity accounted investees has been included in adjusted EBITDA. 12 Months Ended December 31, 2023 Pipelines Facilities Marketing & New Ventures Total ($ millions) Share of profit (loss) from equity accounted investees - operations 109 233 (26) 316 Adjustments to share of profit from equity accounted investees: Net finance costs 22 160 1 183 Income tax expense — 41 — 41 Depreciation and amortization 150 207 25 386 Unrealized loss on commodity-related derivative financial instruments — 16 — 16 Transaction costs incurred in respect of acquisitions — 14 58 72 Total adjustments to share of profit from equity accounted investees 172 438 84 694 Adjusted EBITDA from equity accounted investees 281 671 58 1,010 Proportionately Consolidated Debt-to-Adjusted EBITDA Proportionately Consolidated Debt-to-Adjusted EBITDA is a non-GAAP ratio that management believes is useful to investors and other users of Pembina’s financial information in the evaluation of the Company’s debt levels and creditworthiness. 12 Months Ended ($ millions, except as noted) September 30, 2024 December 31, 2023 Loans and borrowings (current) 946 650 Loans and borrowings (non-current) 11,182 9,253 Loans and borrowings of equity accounted investees 2,770 2,805 Proportionately consolidated debt 14,898 12,708 Adjusted EBITDA 4,187 3,824 Proportionately consolidated debt-to-adjusted EBITDA (times) 3.6 3.3 ($ millions) 12 Months Ended September 30, 2024 9 Months Ended September 30, 2024 12 Months Ended December 31, 2023 9 Months Ended September 30, 2023 Earnings before income tax 1,791 976 2,189 1,374 Adjustments to share of profit from equity accounted investees and other 640 454 694 508 Net finance costs 514 398 466 350 Depreciation and amortization 805 627 663 485 Unrealized loss on derivative instruments 83 129 32 78 Non-controlling interest (1) (12) (12) — — Loss on Alliance/Aux Sable Acquisition 616 616 — — Derecognition of insurance contract provision (34) (34) — — Transaction and integration costs in respect of acquisitions 20 18 2 — Gain on disposal of assets, other non-cash provisions, and other (5) (18) 9 (4) Impairment reversal (231) — (231) — Adjusted EBITDA 4,187 3,154 3,824 2,791 =A+B-C A B C (1) Presented net of adjusting items. View source version on businesswire.com : https://www.businesswire.com/news/home/20241212048876/en/ CONTACT: For further information:Pembina Investor Relations (403) 231-3156 1-855-880-7404 investor-relations@pembina.com www.pembina.com KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: OIL/GAS ENERGY LOGISTICS/SUPPLY CHAIN MANAGEMENT TRANSPORT UTILITIES SOURCE: Pembina Pipeline Corporation Copyright Business Wire 2024. PUB: 12/12/2024 05:05 PM/DISC: 12/12/2024 05:06 PM http://www.businesswire.com/news/home/20241212048876/enSignificant milestones in life and career of Jimmy Carter
