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]
Fate of Bay du Nord oilfield in Newfoundland still unclear as Equinor delays deadline
ST. JOHN'S - Equinor has delayed a deadline to decide whether it will proceed with its proposed Bay du Nord offshore oilfield in Newfoundland and Labrador, as it hammers out a benefits agreement with the province. The Norwegian energy company says the status deadline initially set for December has been adjusted to allow time for the province's Progressive Conservative government to settle in after winning the October election. News of the delay was first reported by allNewfoundlandLabrador [Read more]
Keyera hit by outage at Alberta Envirofuels facility due to failure of key component
CALGARY - Keyera Corp. says it has shut down its Alberta Envirofuels facility due to the failure of a key component. The company says it initiated the unplanned outage earlier this month. Due to the expected time to fabricate, deliver and install the replacement components, Keyera expects the facility will return to service in May. The company says it now plans to complete a planned six-week major turnaround that was scheduled for the fall, during the outage period. Maintenance [Read more]
AltaGas hopes to grow propane foothold in Chinese market
CALGARY - Canadian energy infrastructure company AltaGas Ltd. says it's been able to seize a meaningful foothold in the Chinese propane market in less than a year and it sees more opportunity ahead. AltaGas opened Canada's first propane export terminal in Prince Rupert, B.C., in 2019, but only began shipping to China in April of last year. The Calgary-based company says it now supplies six per cent of China's propane imports. It also makes up 14 per cent of South Korea's and 11 per cent [Read more]
CIBC analysts expecting wider discount on heavy oil this year
CALGARY - Analysts at CIBC are forecasting a wider discount on Alberta heavy crude this year as U.S. plans to rebuild Venezuela's ailing industry dominate headlines. The bank estimates the differential between Western Canada Select, the heavy Alberta blend, and West Texas Intermediate, the U.S. light oil benchmark, to average US$14.25 a barrel in 2026. For 2025, the price gap averaged US$11.30, as Canadian producers benefited from the first full year of operations of the Trans Mountain [Read more]
PetroChina meeting obstacles as it seeks to buy South Bow pipeline stake
CALGARY - PetroChina Canada Ltd. has run into obstacles as it seeks to take full ownership of an Alberta pipeline. The Canadian arm of the Chinese state-owned energy giant jointly owns the Grand Rapids Pipeline with Calgary-based South Bow Corp. That pipeline runs 460 kilometres from the oilsands region in northeastern Alberta to the Edmonton area. A recent Alberta Court of King's Bench decision says PetroChina was seeking to acquire South Bow's interest under an option contained in [Read more]
Alberta’s Smith calls on Carney to speed up major project approvals
EDMONTON - Alberta Premier Danielle Smith is calling on Ottawa to further speed up its approval process for major projects, saying she wants to see applications approved within six months. Prime Minister Mark Carney's Major Projects Office, established last year, currently aims to complete regulatory reviews within two years. Smith says in a letter to Carney that two years is too long, considering the recent U.S. capture of Venezuelan President Nicolas Maduro and U.S. President Donald Trump's [Read more]
The past and potential of Venezuela’s oil sector, and what it means for Canada
CALGARY - U.S. President Donald Trump's ambition to have U.S. energy companies swoop in and revive Venezuela's beleaguered oil industry has raised questions about what it means for Canadian oilsands producers and whether it's a task American supermajors can or even want to take on. Here is a rundown of the past and potential of Venezuela's energy sector: There's a gargantuan amount of oil in the ground. The U.S. Energy Information Administration says that as of 2023, Venezuela had 303 [Read more]
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