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]
NuVista shareholders vote to approve $3.8B Ovintiv transaction
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]
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