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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery lost 27 cents to $92.53 on the New York Merc, while Brent for November added five cents to $97.00 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.50 to WTI ($78.03), down from a discount of $14.40. Natural gas for October added six cents to $3.97. The TSX energy index lost 6.12 points to close at 289.27.

B.C. Montney players fell after chief executive officer Shamsul Abbas of Malaysia's Petronas, the company behind the $11-billion Pacific Northwest LNG (liquefied natural gas) proposal near Prince Rupert, told the Financial Times that he is "ready to call off" the project because of regulatory delays and a lack of "appropriate incentives." He criticized the B.C. government for taking so long to unveil a fiscal regime. This looks like mere posturing. The government is indeed behind its original schedule, but Mr. Abbas has known that (and played tough about it) for months; he and B.C. Premier Christy Clark signed a deal in May under which the government promised to have the details worked out before Nov. 30. The government reiterated this deadline earlier this week. As well, Petronas spent about $2-billion last year to develop its gas properties in northeast B.C. and forecast a similar amount of spending this year, which is all on top of the $6-billion it spent to buy Progress Energy in 2012. It will not walk away from its LNG project lightly. Despite this, fellow Montney players grew nervous, with Crew Energy Inc. (CR) losing 39 cents to $9.21, Birchcliff Energy Ltd. (BIR) losing 50 cents to $10.35 and Painted Pony Petroleum Ltd. (PPY) losing 30 cents to $11.43.

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