Travellers are returning to Atlantic Canada from Cuba amid an oil crisis on the Caribbean island. A WestJet flight from Cayo Coco landed at Halifax's Stanfield International Airport this afternoon. WestJet and other major Canadian airlines are returning travellers to Canada but have suspended commercial flights to the country because of aviation fuel shortages at airports on the island. The Trump administration is cutting Cuba off from using traditional fuel sources in an effort to put [Read more]
Alberta’s Smith says ‘significant’ deficits to come, rules out tax hikes and big cuts
EDMONTON - Alberta Premier Danielle Smith says "significant" deficits are in store for her province as it tries to grapple with low oil prices. The government's new budget is set to be unveiled later this month, and Smith says it's going to be a "tough" one. The premier told RED FM Calgary this week that she has ruled out tax hikes and "deep" service cuts, but says it means the province will need to run multiple deficits. She says the government will still prioritize health care, [Read more]
Canadian oilpatch expected to keep bulking up through mergers and acquisitions
CALGARY - Oilpatch advisers are expecting the wave of consolidation to continue after last year's string of blockbuster Canadian deals, but whether foreign buyers are ready to jump into the fray remains an open question. Companies have seen the merit in bulking up through mergers and acquisitions as oil prices hover around the lacklustre US$60 per barrel mark, shareholders demand better returns through dividends and buybacks and uncertainty continues to cloud the ability for producers to sell [Read more]
Companies trumpet rural Newfoundland LNG plans, but mayor says nobody’s talked to him
ST. JOHN'S - Executives from a South Korean shipbuilding company signed a pact in St. John's, N.L., recently to pursue a liquefied natural gas operation, but the mayor of the town at the heart of the project says nobody has bothered to call him. Jerome Kenny is mayor of Fermeuse, N.L., where several companies have said they're hoping to partner on an LNG operation. The companies have sent press releases about the project, and they've met with Newfoundland and Labrador government [Read more]
Canadians awaiting flights home as U.S. oil blockade causes energy shortage in Cuba
Canadians in Cuba are waiting for flights home as an energy crisis worsens in the nation amid a U.S. oil blockade. Major Canadian airlines have already suspended service to Cuba, including Air Canada and WestJet. All three airlines have confirmed they plan to bring travellers back home to Canada. Calgary-based WestJet says its decision to wind down winter operations will affect WestJet, Sunwing Vacations, WestJet Vacations, and Vacances WestJet Quebec. Air Canada has said its [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: Bank of Canada The Bank of Canada will publish Wednesday its summary of deliberations for its recent interest rate decision that saw it keep its policy interest rate on hold at 2.25 per cent. Bank of Canada governor Tiff Macklem said in a recent speech that Canadian businesses must “lean into” the structural changes in the economy. Insurance earnings Several of Canada's biggest life insurance [Read more]
‘Hell or high water’: Suncor delivers record Q4 output despite soggy weather
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]