CALGARY - The chief executive of Suncor Energy Inc. says it delivered record production during the fourth quarter of 2025 despite mucky conditions in northeastern Alberta that caused problems for at least one of its oilsands peers. Total upstream production was 909,000 barrels of oil equivalent per day during the three months ended Dec. 31, up from 875,000 during the same period a year earlier. The result included 178,200 barrels per day from its Fort Hills mine north of Fort McMurray, Alta., [Read more]
Owner of B.C. ghost town taking another swing at energy exports
CALGARY - Krishnan Suthanthiran is trying to make Kitsault, B.C., happen — again. The Indian-born, U.S.-based medical technology entrepreneur says he spent about US$7 million two decades ago to purchase the uninhabited one-time mining town at the end of a scenic fiord. Some media reports have cited a lower purchase price. His early plans for Kitsault included an eco-resort, an arts and science centre and a movie studio. In 2013, Suthanthiran turned his sights to energy, floating a plan for [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: Suncor results Suncor Energy Inc. will release its fourth-quarter results on Tuesday followed by a conference call with analysts on Thursday morning. The company has set a capital budget for 2026 of $5.6 billion to $5.8 billion, compared with the $5.7 billion to $5.9 billion it targeted for 2025. Macklem speech Bank of Canada governor Tiff Macklem will give a speech to the Empire Club of Canada in [Read more]
Extreme cold disrupts Hydro-Québec exports to Massachusetts during spike in power use
MONTRÉAL - Extreme cold forced Hydro-Québec to temporarily suspend its energy exports to Massachusetts just one week after inaugurating its new line. Hydro-Québec and the Massachusetts Executive Office of Energy and Environmental Affairs both confirmed the news, which was first reported by specialized media outlet E&E News. The decision came as last weekend's polar vortex led to a significant increase in demand in Quebec. There is less water in Hydro-Québec's reservoirs at the [Read more]
Imperial Oil raises quarterly dividend, reports Q4 profit down from year ago
CALGARY - Imperial Oil Ltd. raised its quarterly dividend by 20 per cent and reported its fourth-quarter profit fell compared with a year ago as it saw lower oil prices. The company says it will now pay a quarterly dividend of 87 cents per share, up from 72 cents per share. Imperial says it earned $492 million or $1.00 per diluted share for the final quarter of 2025 quarter compared with a profit of $1.23 billion or $2.37 per diluted share a year earlier. On an adjusted basis, Imperial [Read more]
Major energy company taking a look at northern Manitoba port: Kinew
OTTAWA - Manitoba Premier Wab Kinew says one of Canada's biggest energy companies is taking a look at the Port of Churchill. Kinew has been promoting the idea of expanding the port on the shore of Hudson Bay as a new way to ship goods through the Arctic to Europe and beyond, and the federal government is considering it. He also says it could play a key role in defending Arctic sovereignty. Kinew wouldn't name the energy company but says the Manitoba government is about to sign a [Read more]
If elected, the Parti Québécois would not necessarily oppose new gas or oil pipelines
SAINT-HYACINTHE - A future Parti Québécois government would not rule out oil or gas pipeline projects in Quebec. Party members voted down a resolution at a PQ convention in Saint-Hyacinthe, in the Montérégie region in Quebec, on Sunday that would have barred such developments. Opponents of the motion argued it could prevent industrial facilities from accessing natural gas needed for operations and economic development. The proposal was defeated by a strong majority of [Read more]
NuVista shareholders vote to approve $3.8B Ovintiv transaction
CALGARY - U.S.-based Ovintiv Inc.'s bid to acquire NuVista Energy Ltd. has been approved by the shareholders of the Calgary-based company. A news release from the companies says the transaction was approved by around 99 per cent of NuVista shareholders. The companies say that after the meeting of shareholders, the transaction received a final order from an Alberta court. The transaction is now subject to other closing conditions and approval under the Investment Canada [Read more]
Worker dies at Suncor oilsands site after machinery sinks into muskeg
FORT MCMURRAY - Alberta Occupational Health and Safety is investigating the death of a worker at an oilsands mine north of Fort McMurray. The provincial government says the worker was inside a piece of equipment last week when it became submerged in muskeg. Suncor Energy Inc. says the contractor had been operating heavy machinery near a water body at its Fort Hills oilsands site. As of last week, the person was unaccounted for and recovery efforts were [Read more]
Energy minister Dix says North Coast Transmission Line will facilitate LNG project
British Columbia's energy minister Adrian Dix says an agreement between BC Hydro and the Nisga'a First Nation will help power a planned floating LNG terminal in northwestern B.C. across the finish line. Dix says the agreement announced in Prince George, B.C. will see the North Coast Transmission Line supply up to 600 megawatts to what proponents say will be Canada's second-largest LNG facility. The Ksi Lisims LNG project planned for Nisga'a Treaty territory on Pearse Island north of Prince [Read more]
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