OTTAWA - Canada's oil and gas sector accounted for a lower level of emissions in 2025, despite boosts in production, while the country's overall emissions ticked up thanks to increased reliance on natural gas to heat homes. Those are among the findings in the Canadian Climate Institute's annual national emissions report, released Thursday. The institute, which receives three-quarters of its funding from the federal government, is releasing early estimates of Canada's year greenhouse gas [Read more]
Conservative motion seeking more diesel relief defeated in House of Commons
OTTAWA - The Conservative party's proposal to extend federal relief on diesel fuel was voted down in the House of Commons today. Global prices for diesel and gasoline have spiked since the spring as the war in Iran has disrupted fuel shipments from the Gulf region. The Liberal government already has extended an earlier pause on the federal fuel excise tax, which includes diesel, into 2027, but the Conservatives want to see the government go further. The Conservatives tabled a motion [Read more]
Conservatives call for boost in Canadian diesel production, cut to diesel taxes
OTTAWA - Conservative members of Parliament are calling for a boost to Canadian diesel production to one million barrels per day as the price for the fuel continues to soar. Fuel prices have increased globally in recent months as wars in Iran and Ukraine impact world oil supplies. Statistics Canada reports diesel prices across the country in August were up between 60 and 90 cents on average compared with where they were a year ago. Conservative energy critic Carol Anstey said Canadians [Read more]
Cenovus Energy signs deal to buy Athabasca Oil in deal valued at $5.7 billion
CALGARY - Cenovus Energy Inc. has signed a deal to buy Athabasca Oil Corp. in a cash-and-stock deal valued at $5.7 billion. Cenovus CEO Jon McKenzie says Athabasca’s high-quality, long-life assets fit the company's portfolio and provide a clear opportunity to improve performance, grow production and create long-term shareholder value. Cenovus says the deal adds about 45,000 barrels of oil equivalent per day of production. Under the terms of the agreement, Athabasca shareholders will [Read more]
Suncor selling non-core offshore assets to Ithaca Energy
CALGARY - Suncor Energy Inc. says it has signed a deal to sell a group of non-core offshore assets to Ithaca Energy plc. Under the agreement, Ithaca will make an upfront payment $1.2 billion plus up to an additional $350 million in contingent payments, based on future oil prices. The deal includes a 48 per cent interest in Terra Nova, a 40 per cent interest in White Rose and a 38.6 per cent stake in interest in West White Rose. In addition, Ithaca will assume investment commitments and [Read more]
Two injured in gas plant fire near Calgary; one in critical condition
CHANCELLOR - Two people have been injured in a gas plant fire in southern Alberta. A spokesperson for STARS air ambulance says a man in his 70s was transported from the plant, about 88 kilometres east of Calgary, to hospital. He was listed in critical condition. Wheatland County Fire Services responded to the fire at the Canadian Natural Resources facility at 5:30 a.m. The blaze was later declared under control. Fire crews say the surrounding area was evacuated as a [Read more]
Another oilsands boom? Smith, Carney say this time Canada will be ready
CALGARY - It's been a relatively quiet decade in Alberta's oilsands, but the federal and provincial governments believe a new West Coast pipeline coupled with policy shifts might help turn up the volume. Prime Minister Mark Carney was in Fort McMurray, Alta., this week to announce the first proposal to be deemed in the national interest under legislation passed last year: the million-barrel-per-day Pacific Link pipeline from Alberta to a tanker export terminal in southern B.C. The [Read more]
G7 to release 100 million barrels of oil in attempt to tame soaring fuel prices
OTTAWA - Canada and its fellow industrialized countries in the G7 agreed Friday to release 100 million barrels of oil and fuel products in the coming weeks. The pledge includes the release of "substantial" amounts of diesel after prices for the fuel recently hit record highs in the United States. U.S. President Donald Trump's war in Iran and Russia's war with Ukraine have both affected global oil supplies. Trump announced the action Friday on social media, and the G7 — which includes the [Read more]
B.C.’s Eby promises relief at gas pumps, while Conservative Doerkson praises pipeline
VICTORIA - Promises to lower the cost of gasoline from B.C. New Democrat Leader David Eby, and praise for a planned pipeline from Conservative interim leader Lorne Doerkson fuelled British Columbia's snap election campaign on Thursday. Eby's platform for relief at the gas pumps comes in two parts: a temporary reduction of the provincial motor fuel tax by 10 cents per litre on both gasoline and diesel, and a permanent "price guard" to regulate the price at the pumps. The leader said the [Read more]
A timeline for Pacific Link, the ‘national interest’ Alberta-B.C. pipeline plan
CALGARY - A new million-barrel-per-day oilsands pipeline to the West Coast is the first to be deemed a project of national interest — a key step if the proposal is to advance. Prime Minister Mark Carney and Alberta Premier Danielle Smith announced the designation in the oilsands hub of Fort McMurray, Alta., on Thursday. Smith has been pushing for the new pipeline because it would enable Alberta producers to access lucrative Asian markets and spur production growth in the oilsands. Here is [Read more]