CALGARY - PetroChina Canada Ltd. has run into obstacles as it seeks to take full ownership of an Alberta pipeline. The Canadian arm of the Chinese state-owned energy giant jointly owns the Grand Rapids Pipeline with Calgary-based South Bow Corp. That pipeline runs 460 kilometres from the oilsands region in northeastern Alberta to the Edmonton area. A recent Alberta Court of King's Bench decision says PetroChina was seeking to acquire South Bow's interest under an option contained in [Read more]
Alberta’s Smith calls on Carney to speed up major project approvals
EDMONTON - Alberta Premier Danielle Smith is calling on Ottawa to further speed up its approval process for major projects, saying she wants to see applications approved within six months. Prime Minister Mark Carney's Major Projects Office, established last year, currently aims to complete regulatory reviews within two years. Smith says in a letter to Carney that two years is too long, considering the recent U.S. capture of Venezuelan President Nicolas Maduro and U.S. President Donald Trump's [Read more]
The past and potential of Venezuela’s oil sector, and what it means for Canada
CALGARY - U.S. President Donald Trump's ambition to have U.S. energy companies swoop in and revive Venezuela's beleaguered oil industry has raised questions about what it means for Canadian oilsands producers and whether it's a task American supermajors can or even want to take on. Here is a rundown of the past and potential of Venezuela's energy sector: There's a gargantuan amount of oil in the ground. The U.S. Energy Information Administration says that as of 2023, Venezuela had 303 [Read more]
Eby pitches ‘pivot’ from oil pipeline to refinery talks after Maduro capture
VANCOUVER - British Columbia Premier David Eby said Canada needs to "pivot" from talk of a potential new pipeline carrying oil bound for Asia and instead think about building a new refinery. Eby said Tuesday that if tax dollars are being considered to build a pipeline to B.C.'s northern coast, the money would be better spent supporting oil and gas products made in Canada rather than being relying on American and Chinese refineries. The premier's comments come after Venezuelan President [Read more]
Alberta launches website for potential new West Coast oil pipeline
CALGARY - The Alberta government has launched a website for the bitumen pipeline it wants to see built to the northwest B.C. coast. It says the page will act as a central hub for project information and updates to ensure transparency and open dialogue. It includes a section dedicated to debunking myths, such as that construction has begun, the province is paying for the project and that a route has been decided. In October, the province announced it would spend $14 million on early [Read more]
Five ways U.S. intervention in Venezuela could affect Canada
OTTAWA - U.S. President Donald Trump stunned the world on the weekend by ordering a military raid on the Venezuelan capital, capturing President Nicolas Maduro and bringing him to New York to face charges. The move has challenged international law and could drastically reshape the situation in Venezuela, where violent repression and economic mismanagement — together with Western sanctions — have driven a migration crisis across North and South America. Here's how these drastic changes [Read more]
Deloitte sees oil hovering at US$58 a barrel as glut drags, while Alberta gas rises
CALGARY - The latest energy forecast from consulting firm Deloitte sees lacklustre crude oil prices continuing this year and natural gas prices picking up steam. West Texas Intermediate, the key U.S. light oil benchmark, is expected to average US$58 a barrel -- about where it's trading at currently. That's about 20 per cent lower than it was at this time last year and about 12 per cent below the commodity's 2025 average. Deloitte partner Andrew Botterill says the forecast doesn't [Read more]
Poilievre calls for immediate pipeline approval following U.S. action in Venezuela
OTTAWA - Conservative Leader Pierre Poilievre is warning the federal government that the possible end of American sanctions on Venezuelan oil could displace Canadian exports to the U.S. — and is urging the Liberals to "immediately approve a pipeline to the Pacific Coast." In a letter to Prime Minister Mark Carney posted on social media Tuesday, Poilievre said the action taken by the United States over the weekend has "altered the global energy landscape." U.S. President Donald Trump [Read more]
Alberta’s Danielle Smith says Maduro capture outlines urgency of West Coast pipeline
EDMONTON - Alberta Premier Danielle Smith says the American capture of Venezuelan President Nicolás Maduro underlines the urgency of building oil pipelines to export Canadian oil to new markets. U.S. President Donald Trump sent political shock waves around the world with the weekend military raid, saying Washington aimed to seize the South American country's oil reserves. Smith says the events "emphasize the importance that we expedite the development of pipelines to diversify our oil [Read more]
Canadian oil stocks down after U.S. forces capture Maduro
CALGARY - Shares of Canada's big oil companies fell in early trading after the U.S. military captured Venezuelan President Nicolás Maduro on the weekend. Canadian Natural Resources Ltd. fell $3.79 or about eight per cent to $43.33, while shares in Cenovus Energy Inc. lost $2.08 or about 8.7 per cent at $21.97 on the Toronto Stock Exchange. Shares of Suncor Energy Inc. were down $3.53 at $59.08. Venezuela has large oil reserves but its industry is in disrepair after years of neglect and [Read more]
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