WASHINGTON - United States Trade Representative Jamieson Greer told Canadians looking for insights into the future of bilateral trade this week that "America First" is policy, not a slogan, and they should not expect a return to the way things were. Sources who attended a roundtable with U.S. President Donald Trump's trade czar in Washington on Wednesday told The Canadian Press that Greer was measured and pragmatic as he laid out the administration's policy goals ahead of the coming review of [Read more]
Equinor awards design and engineering contracts for Bay du Nord oil project off N.L.
ST. JOHN'S - Equinor has awarded contracts for front-end engineering and design work on its proposed Bay du Nord oil project off the East Coast of Newfoundland. The Norwegian energy giant has tapped Subsea Integration Alliance for design and engineering work on the project's subsea architecture, cables and flowlines. BW Offshore will help design Bay du Nord’s floating production and storage vessel, which the company is also supplying. Equinor has not yet decided to proceed with the [Read more]
Bank of Canada expected to keep benchmark rate at 2.25% amid Iran war oil price spike
OTTAWA - The Bank of Canada is widely expected to keep its benchmark interest rate unchanged at 2.25 per cent when it announces its latest decision later this morning. The central bank is also set to release its latest economic forecast in its quarterly monetary policy report. The bank has been grappling with a confluence of factors that have clouded the outlook for inflation and the economy. Heading into the year, many economists had predicted inflation would ease and a softer economy [Read more]
Feds formalize enhanced oil recovery tax credit flip-flop in spring economic update
OTTAWA - The federal government's spring economic update today formalizes a pivot in climate policy that was first made in last year's energy agreement with Alberta. In the 2025 budget, the Liberals promised to not make enhanced oil recovery eligible for a tax credit for the development of carbon capture and storage systems. But 10 days after that budget passed the House of Commons it extended that tax credit to enhanced oil recovery projects in its energy memorandum of understanding with [Read more]
Blockbuster $22B Shell-ARC deal bodes well for expansion to LNG Canada, experts say
CALGARY - Global energy heavyweight Shell PLC's plan to buy one of Canada's biggest natural gas producers bolsters the likelihood an expansion of the LNG Canada plant will move ahead, industry experts say. The deal to buy Calgary-based ARC Resources Ltd. is valued at $22 billion, accounting for the target company's debt. It gets Shell access to ARC's holdings in the prolific Montney shale formation that last year produced 374,000 barrels of oil equivalent per day. And that means a steady [Read more]
Canada is getting a sovereign wealth fund. What does that mean and how do they work?
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]
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