CALGARY - Executives at South Bow Corp. say customers have been clamouring to ship more oil on the southern leg of its pipeline network. Richard Prior, South Bow's chief operating officer, says recent geopolitical turmoil has driven an increase in demand for more oil exports, including via the U.S. Gulf Coast. South Bow operates the Keystone system that runs from eastern Alberta to refineries in the Midwest and the Texas coast. Average throughput on Keystone during the first [Read more]
Pembina Pipeline increases outlook on rising commodity prices
CALGARY - A jump in commodity prices resulting from the Middle East conflict has helped Pembina Pipeline Corp. raise its earnings outlook for the year. The company says it expects to benefit especially from higher propane prices in Asia thanks to its export facilities on the West Coast. The Calgary-based natural gas processor and shipper has the 20,000-barrel-per-day Prince Rupert Terminal as well as access to third-party facilities including a 20,000 barrel-per-day agreement that came [Read more]
Smith hopes MOU with Ottawa can be finalized in the ‘next number of days’
OTTAWA - Alberta Premier Danielle Smith said Friday she hopes the memorandum of understanding between her province and the federal government can be completed soon because Albertans need to see that "Canada can work." Work is underway to verify signatures on a petition for a separation referendum that could happen in Alberta this fall. Smith and Prime Minister Mark Carney met in Ottawa Friday morning. Both said progress has been made on the agreement to work together on major projects and [Read more]
South Bow earnings drop; bids close for possible new U.S.-bound pipeline
CALGARY - Crude pipeline operator South Bow Corp. says its first-quarter net income dropped to US$77 million during the first three months of the year, down from US$88 million during the same period of 2025. The profit amounted to 37 cents US per share versus a year-earlier 42 cents US. South Bow, which keeps its books in U.S. dollars, reported its revenue fell to US$491 million from US$498 million. The company, which spun off from TC Energy in 2024, operates the Keystone system [Read more]
N.S. premier says Mark Carney’s leadership is a boon to N.S. oil and gas exploration
HALIFAX - Nova Scotia’s premier is crediting a change in federal leadership for renewed traction in the province’s pursuit of offshore oil and gas development. Tim Houston said Thursday morning that former prime minister Justin Trudeau essentially forced the province to shelve an offshore oil and gas exploration project a few years ago, but current Prime Minister Mark Carney is supporting the province’s efforts to grow the economy. In 2023, the provincial and federal governments jointly [Read more]
Suncor ratcheting up output of diesel, jet fuel to meet surging global demand
CALGARY - Suncor Energy Inc. is sending high-demand products like jet fuel and diesel from its Canadian refineries to a variety of far-flung global destinations as strife in the Middle East continues to squeeze supplies. In March, the Calgary-based oilsands producer, oil refiner and fuel retailer made sales in the Philippines and Puerto Rico, "both at significant premiums to market pricing," chief financial officer Troy Little told analysts on a conference call Wednesday. "We have spent [Read more]
Oil execs, climate groups decry slow pace of Alberta MOU, though differ on carbon tax
OTTAWA - Five of Canada's largest oilsands producers and clean energy groups are separately criticizing the federal and Alberta governments for slow progress on finalizing aspects of the energy deal signed last year. The pact pairs the prospect of a new oil pipeline to the West Coast with several environmental measures, including industrial carbon pricing and an agreement for reducing methane emissions. In a statement published Monday, the Oil Sands Alliance — formerly known as the [Read more]
Equinor submits Bay du Nord plans to Newfoundland and Labrador energy regulator
ST. JOHN'S - Norway's Equinor has submitted a development application for its proposed Bay du Nord oil project to Newfoundland and Labrador’s energy regulator. The board of the Canada-Newfoundland and Labrador Offshore Energy Regulator will decide if the development is in the public interest. The application will ultimately land with the federal natural resources minister and the provincial minister of energy for approval. However, the public will have a chance to weigh in on the [Read more]
Competition Bureau challenging Keyera deal with Plains All American Pipeline
CALGARY - The Competition Bureau is challenging Keyera Corp.’s proposed deal to buy the Canadian natural gas liquids business of Plains All American Pipeline LP. The regulator says the proposed transaction would reduce competition at Canada’s most important natural gas liquids hub at Fort Saskatchewan, Alta. It says it is seeking an order from the Competition Tribunal to preserve competition. The bureau says the deal would significantly increase market concentration in natural gas [Read more]
Five things to watch for in the Canadian business world in the coming week
TORONTO - Five things to watch for in the Canadian business world in the coming week: Loblaw results Loblaw Cos. Ltd. will release its first-quarter results on Wednesday morning before markets open. The grocery and drugstore retailer has been working to build its discount stores and private-label products as shoppers continue to hunt for deals. Telecom earnings Two of the country's big telecommunications companies are expected to report earnings. BCE Inc. will report its [Read more]
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