CALGARY - A new report says executive pay in the oil and gas sector is on a sharp rise as the sector continues its post-pandemic resurgence. The Bedford Consulting Group says total compensation for CEOs grew in almost all asset classes at 143 companies in Canada and the United States. Chief executives' total compensation ranged from a median $425,255 at companies with total assets under $100 million to $16.6 million at companies with total assets topping $30 billion. Five of the seven [Read more]

As one province pauses the gas tax to provide savings at the pumps, another is bringing it back. The Manitoba government says that starting Monday, motorists won't have to pay 14 cents per litre in fuel tax for the next six months. The province has said it introduced the measure to help motorists with inflation. Meanwhile, the Alberta government is reintroducing the gas tax after pausing it nearly two years ago. Starting Monday, motorists in Alberta can expect to pay a tax of nine [Read more]

LONDON (AP) — Oil and natural gas giant BP has joined the growing list of companies that have halted their shipments through the Red Sea because of the risk of attack from Yemen's Houthi rebels, threatening a major trade route in what is expected to have global effects. London-based BP said Monday that it has “decided to temporarily pause all transits through the Red Sea,” including shipments of oil, liquid natural gas and other energy supplies. Describing it as a “precautionary pause," the [Read more]

OTTAWA - The federal Liberals will finally provide details on their long-promised oil and gas emissions cap today. The policy is a critical piece of Canada's long-term emissions reduction plan but today's framework will show the sector won't be asked to cut emissions as deeply as previously thought. The 2022 emissions reduction plan anticipated regulating that emissions from oil and gas in 2030 fall more than 40 per cent from current levels. Industry balked at that demand, saying it [Read more]