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]
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]
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