LETHBRIDGE - Alberta Premier Danielle Smith says the war in Iran underscores the need for a new pipeline connecting her province's oil reserves to the West Coast. The threat of shipping disruptions have seen global oil prices jump since American-Israeli attacks on Iran over the weekend. Smith says any disruption in the Strait of Hormuz, a key oil choke point at the mouth of the Persian Gulf, only underscores the need for a new pipeline that could bring her province’s pivotal export to [Read more]
Five things to watch for in the Canadian business world in the coming week
TORONTO - Five things to watch for in the Canadian business world in the coming week: Carney road show Prime Minister March Carney is on the road this week, looking to grow Canada's economic ties to countries other than the United States. He began his trip by flying to India and landing in Mumbai before heading to New Delhi. Carney will also visit Australia this week with stops in both Sydney and Canberra before heading to Tokyo on Friday. Macklem chat Bank of Canada governor Tiff [Read more]
TransAlta signs Alberta data centre deal with CPP Investments and Brookfield
CALGARY - Electricity generator TransAlta Corp. has announced plans to power a new data centre west of Edmonton in partnership with the Canada Pension Plan Investment Board and Brookfield, which comes as the Alberta government aims to grow that nascent industry without overburdening its grid. TransAlta said Friday that the memorandum of understanding with the two investment firms sets out a framework for the development of a data centre at its Keephills power plant, which was retooled to run [Read more]
From energy to AI: Five big themes behind Carney’s mission to India
OTTAWA - Prime Minister Mark Carney's trip to India meant to reset bilateral relations after two years of extreme tensions. Canada and India halted trade talks and pulled their diplomats after Canada alleged in both 2023 and 2024 that agents of the government of India were behind acts of violence and extortion targeting Canadian Sikhs, mainly those who support the creation of an independent Sikh state known as Khalistan. But U.S. President Donald Trump's erratic approach to trade and [Read more]
Pembina green-lights two pipeline projects, reports dip in quarterly earnings
CALGARY - Pembina Pipeline Corp. says it has decided to proceed with two pipeline expansion projects in British Columbia and Alberta as it announced a dip in fourth-quarter earnings. The Calgary-based energy infrastructure company says earnings for the final three months of 2025 were $489 million, or 78 cents per share, compared to $572 million, or 92 cents per share, a year earlier. Revenue fell to $1.91 billion from $2.15 billion during the same 2024 quarter. Pembina says the two [Read more]
Alberta challenge to federal project review law being heard in court, again
CALGARY - Alberta is taking another run at having a court strike down federal project review legislation. The Alberta Court of Appeal started hearing the province's second challenge to Ottawa's Impact Assessment Act in Calgary on Tuesday. The act sets out a process to review the environmental, economic, health and social effects of proposed projects like ports, mines or pipelines. It been staunchly opposed by oil and gas industry players and former Alberta premier Jason Kenney and other [Read more]
Whitecap Resources reports $307.2M Q4 profit, up from $233.8M last year
CALGARY - Whitecap Resources Inc. reported net income of $307.2 million in the fourth quarter, up from $233.8 million during the same period the previous year. The company says its net income amounted to 25 cents per share during the quarter, down from 40 cents during the prior-year quarter. Petroleum and natural gas revenue for the period ended Dec. 31 reached $1.67 billion, up year over year from $926.1 million. Whitecap says it reached a record quarterly production of 379,606 barrels [Read more]
S&P/TSX composite rises more than 200 points helped by oil prices, U.S. markets slide
TORONTO - Canada's main stock index rose more than 200 points on Thursday, while U.S. markets lost ground. Much of the gains on the TSX came from the energy sector, which benefited from rising oil prices amid worries about a potential conflict between the United States and Iran. The S&P/TSX composite index was up 205.25 points at 33,594.98. The April crude oil contract was up US$1.35 at US$66.40 per barrel. “Energy is the big sector today, that's why the Canadian market is doing [Read more]
Ottawa faces calls to send essential fuel to Cuba as U.S. widens oil blockade
OTTAWA - Prime Minister Mark Carney is facing mounting calls to speak out against the United States for widening its restrictions on fuel reaching Cuba, or to send aid to the country. For more than a year, Global Affairs Canada has warned travellers of "shortages of basic necessities, including food, medicine and fuel" across most of Cuba. In January, the island lost its main source of fuel when the U.S. took control of Venezuela's oil reserves. Canadian airlines have suspended flights to [Read more]
Precision Drilling shares fall after decommissioning charge drags it to a Q4 loss
CALGARY - Shares in Precision Drilling Corp. are down after it reported a fourth-quarter loss. The Calgary-based oil and gas driller says its net loss attributable to shareholders was $41.9 million for the three months ended Dec. 31, or $3.23 per share. During the same period a year earlier, Precision posted a $14.8 million profit worth $1.06 per share. Precision says it took a $67-million non-cash asset charge related to decommissioning 31 of its 215 marketable drilling rigs that were [Read more]
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