Prime Minister Mark Carney announced the creation of the country's first-ever sovereign wealth fund on Monday, called the Canada Strong Fund. Carney pitched the new fund as a way for Canadians to invest in nation-building projects in areas that include energy, infrastructure, mining, agriculture and technology. Here's what you need to know about sovereign wealth funds and how they operate. What is a sovereign wealth fund? A sovereign wealth fund is a state-owned investment vehicle. [Read more]
Paramount Resources to sell its stake in drilling subsidiary to Akita Drilling
CALGARY - Paramount Resources Ltd. has signed a deal to sell its stake in its Fox Drilling subsidiary to Akita Drilling Ltd. Under the agreement, Akita will pay nearly 19.3 million voting common shares for the operations that Paramount plans to distribute to its shareholders. Akita has also said it will eliminate its dual-class share structure. Paramount shareholders are expected to receive 0.1324 of an Akita share for each Paramount share they hold. Once the transaction is complete, [Read more]
What you need to know about the new Enbridge LNG pipeline approval
OTTAWA - The federal government announced Friday it has approved Enbridge Inc.’s $4-billion Sunrise natural gas pipeline project in British Columbia. Here's a quick rundown of the project and why it's important. What is the Sunrise Expansion Project? The Westcoast Energy Limited Partnership, an affiliate of Enbridge, runs the Westcoast natural gas pipeline system, which connects gas fields in northeastern B.C. and northwestern Alberta to the Canada-U.S. border. It currently has peak [Read more]
Government approves Enbridge’s Sunrise natural gas pipeline expansion project
CALGARY - Federal Natural Resources Minister Tim Hodgson says the government has approved Enbridge Inc.'s $4-billion Sunrise project in B.C. The plan will see an expansion of the company's Westcoast natural gas pipeline system. The project includes the addition of about 139 kilometres of new pipeline by constructing 11 pipeline looping segments, parallel to the existing line. It will add up to 300 million cubic feet per day of transportation capacity on B.C.'s major natural gas [Read more]
Nova Scotia Premier Tim Houston says fracking opponents are drowning out other voices
HALIFAX - Nova Scotia Premier Tim Houston says some opponents of fracking are drowning out voices who want to have a conversation and learn more about new fossil fuel production. Houston posted the comments on social media, along with a short video of a consultation session in Windsor, N.S., hosted by Dalhousie University on Monday evening. The provincial government kicked off the consultations more than a year after lifting a ban on fracking that was in place for over a decade. Houston [Read more]
Oilsands have strong growth potential, but pipeline constraints loom: Enverus
CALGARY - A new report from Enverus says Western Canadian oil production can grow by about one million barrels a day over the next seven years. The research firm says the growth will be mostly driven by expansions to existing steam-driven oilsands projects. The report notes it can take years to plan and build such a project, so producers have a limited ability to take advantage of the surge in global crude oil projects driven by the war in the Middle East. West Texas Intermediate crude [Read more]
Alberta, South Korea reach deal to eliminate three per cent tariff on crude exports
EDMONTON - Alberta Premier Danielle Smith has signed a joint statement with South Korea to waive a three per cent tariff on crude exports from the oil-rich province. The Alberta government says the agreement will open up more market access for energy producers shipping bitumen from Canada. It says Alberta exported almost $400 million in crude oil to South Korea last year, but with tariffs removed, that number could grow to between $400 million and $1 billion annually. Smith has stated [Read more]
Five things to know about Nova Scotia’s plans to develop onshore natural gas
HALIFAX - Nova Scotia is kicking off public consultations on its controversial plan to allow natural gas exploration more than a decade after fracking was first banned in the province. In December, the provincial government tapped Dalhousie University to administer a program that will see university researchers and the private sector study the province's estimated 198-billion cubic metres of onshore natural gas. The $30-million program, which will offer companies financial incentives as [Read more]
Airfares climb for first time in nearly two years amid soaring fuel costs: StatCan
MONTREAL - Statistics Canada says airfares rose year-over-year for the first time in nearly two years in March amid sky-high jet fuel prices. Agency data shows that plane ticket prices rose 2.9 per cent last month compared with March 2025. National Bank analyst Cameron Doerksen notes that the last time the consumer price index notched a year-over-year increase for air travel was June 2024. Doerksen says ballooning jet fuel prices is driving the recent fare surge, with airlines passing [Read more]
Superior Plus shares up more than 10 per cent after signing data centre deal
TORONTO - Shares of Superior Plus Corp. were up more than 10 per cent in early trading after it announced it has recently been awarded multiple contracts, including an agreement to support a hyperscale data centre project. The company says its Certarus Ltd. subsidiary will provide natural gas to support about 135 megawatts of power generation once the facility is online. It says the project is under development and is expected to start operations in mid-2027. Certarus expects total [Read more]