FREDERICTON - Nearly seven years after the New Brunswick government went to the Supreme Court to prevent the free movement of alcohol across the country, Premier Susan Holt says the tariff war with the United States is forcing the province to rethink its approach to trade. Holt's government is set to table legislation soon that would allow New Brunswick companies to sell alcohol directly to consumers in other provinces, and permit New Brunswickers to transport spirits across provincial [Read more]
Alberta government says premier in talks with potential overseas heavy oil buyer
CALGARY - The Alberta government says Premier Danielle Smith has been in talks with a multinational oil and petrochemical player about selling two million barrels per month of province-owned heavy oil. It said in a news release that there was a meeting on Monday, but it did not identify the company or say what part of the world it is based in. The province has announced it will collect bitumen royalties in the form of the heavy oil itself, as opposed to cash, which Alberta's arm's-length [Read more]
Port of Vancouver reaches record cargo volumes in 2024, as crude oil exports soar
The Port of Vancouver moved a record amount of goods through its gates last year, an increase driven partly by surging oil exports made possible by the Trans Mountain Pipeline. The Vancouver Fraser Port Authority says total freight at the country's largest port grew five per cent year-over-year to reach 158 million tonnes in 2024. It says crude oil exports climbed more than 500 per cent thanks to the Trans Mountain Pipeline expansion that began operations last May. Container traffic [Read more]
Motion by Nova Scotia premier to condemn anti-pipeline politicians in Canada fails
HALIFAX - Nova Scotia Premier Tim Houston has failed to get unanimous consent in the legislature to a resolution calling on the federal government to condemn any national political leader who opposes energy infrastructure projects amid the trade war with the United States. Houston singled out Bloc Québécois Leader Yves-Francois Blanchet, who last month said he was “fiercely opposed” to potential energy pipelines through Quebec. Houston's resolution says Blanchet’s position undermines “both [Read more]
South Bow says tariffs could create challenges in its marketing segment
CALGARY - South Bow Corp., the oil pipeline operator spun off from TC Energy Corp. last year, says its marketing segment could come under pressure if a 10 per cent tariff on U.S. energy exports persists. The Calgary-based company says the levy imposed this week, and Canadian counter tariffs against the U.S., have caused volatility in the price difference between heavy Canadian and light U.S. crude prices. South Bow says it has cut its 2025 outlook for normalized earnings before interest, [Read more]
Adversaries see opportunities to exploit ‘strategically valuable’ Arctic, CSIS says
OTTAWA - Canada's spy agency warns that colliding global developments make the Arctic an "attractive, strategic and vulnerable destination" for foreign adversaries seeking to establish a presence in Canada. A newly released Canadian Security Intelligence Service assessment flags the environment, critical infrastructure, economic activity and geopolitics as converging factors making the region susceptible to threats from abroad. It sees resource extraction projects, increasing ship traffic, [Read more]
Tariffs on Canadian crude to drive up pump prices in U.S., analyst says
CALGARY - Motorists in some U.S. regions can expect to take a hit at the pump thanks to tariffs on Canadian oil imports, a gas price analyst says, as President Donald Trump has pressed ahead with a 10 per cent levy on energy. The northeastern United States can expect to see the quickest and biggest pump price increases, as much of that region's fuel comes directly from the Irving Oil refinery in Saint John, N.B., GasBuddy's Patrick De Haan wrote in a blog post Tuesday. "By mid-March 2025, [Read more]
Low energy prices sting Aramco profits and squeeze Saudi development plans
DUBAI, United Arab Emirates (AP) — Saudi Arabia's state-owned oil giant Aramco reported a $106.25 billion profit in 2024 on Tuesday, down 12% from the prior year as lower energy prices now squeeze the kingdom's multi-trillion-dollar development plans. Already, Saudi's de facto ruler Crown Prince Mohammed bin Salman has been digging a straight-line city in the desert for his $500 billion project at NEOM in Saudi Arabia’s western desert on the Red Sea. He also will need to build tens of [Read more]
Energy, trade investments ‘imperative’ in rocky times: Canada Infrastructure Bank CEO
The head of the Canada Infrastructure Bank says the power and export-enabling projects the Crown corporation backs are more crucial than ever as trade tumult intensifies with the United States. “In the face of lots of uncertainty, the one thing you can know is that we're going to need that electricity, energy and trade infrastructure in the future even more," said Ehren Cory. “It’s an imperative and it’s been an imperative for a while.” Cory's comments come against the backdrop of U.S. [Read more]
MEG Energy says half of oil sales free from tariffs thanks to global market access
CALGARY - More than half of MEG Energy Corp.'s oil sales would be free from potential U.S. tariffs thanks to the diverse market access options it has lined up, a company executive says. The Calgary-based oilsands producer has the ability to access global markets via Canada's West Coast through the Trans Mountain pipeline, as well as via the U.S Gulf Coast. Erik Alson, MEG's senior vice-president of marketing, said exports to customers abroad via the Gulf of Mexico were at around 10 to 20 [Read more]
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