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South Bow boss taking lessons from Keystone XL as it pursues new cross-border project

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CALGARY -   The chief executive of South Bow Corp. says spreading out risk among partners and customers will be key if it goes ahead with a new Alberta-U. S. pipeline project.  CEO Bevin Wirzba says that was one of the lessons learned from a past attempt to expand its cross-border system — Keystone XL. The Calgary-based company, which used to be part of TC Energy Corp., has begun gauging customer interest in its Prairie Connector proposal, which would start in Hardisty, Alta., and [Read more]

Qatar energy minister warns war will force Gulf to stop energy exports within weeks, FT says

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Qatar expects all Gulf energy producers to shut down exports within weeks and drive oil to $150 a barrel, the country's Energy Minister Saad al-Kaabi told the Financial Times in an interview published on Friday. "Everybody that has not called for force majeure we expect will do so in the next few days that this continues. All exporters in the Gulf region will have to call force majeure," Kaabi told the FT. Kaabi said even if the war ended immediately it would take Qatar "weeks to months" [Read more]

IEA expects huge amount of LNG to reach market in next 5 years, chief says

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The International Energy Agency expects a huge amount of liquefied natural gas to reach the market in the next five years, which will put downward pressure on LNG prices, IEA chief Fatih Birol told reporters. "We expect in the next five years a huge amount of LNG wave, about 300 BCM of new LNG coming," he said after a meeting with European Commission President Ursula von der Leyen and commissioners. "This would mean there will be a downward pressure for the prices and most importantly 75% [Read more]

Trump officials ruling out Treasury oil futures trades for now, Bloomberg News reports

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The Trump administration is ruling out deploying the Treasury Department to trade oil futures for now, Bloomberg News reported on Friday, citing a person familiar with the matter. Officials discussed getting the Treasury Department involved, but believe its ability to meaningfully affect the market is limited, the report said. Global oil prices have jumped since the war with Iran started on Saturday, as the spreading conflict disrupts Middle East supplies. However, prices fell on Thursday [Read more]

Prime Minister Carney forges new Comprehensive Strategic Partnership with Japan across defence, energy, trade, and technology

TOKYO, March 6, 2026 /CNW/ - Canada is focused on what we can control – strengthening our economy at home and diversifying our partnerships abroad, including in the Indo-Pacific. Japan is an over $5.5 trillion market, the world's fourth-largest economy, and Canada's fourth-largest source of foreign direct investment – with nearly $40 billion in bilateral trade. Canadian businesses in Japan are leaders in financial services, forestry, and automotive sectors, and 70% of the cars manufactured in [Read more]

Frontera Energy says Parex offer superior proposal to previous Geopark bid

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Toronto-listed Frontera Energy Corporation said in a statement late on Thursday that its board, in consultation with legal counsel and independent financial advisors, has determined the binding offer received from Parex Resources Inc. to acquire its Colombian upstream operations is superior proposal to another bid previously received from Geopark. Calgary-based Parex's offer would see it acquire the same assets as Geopark in a $500 million cash deal, the Frontera statement said, including the [Read more]

Take Five: The fog of war

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The U.S. and Israel's widening conflict with Iran will remain front and centre for the world's financial markets next week. Not only is the war itself driving sharp moves in oil, gas and global shipping prices, but normally crucial indicators - including Wednesday and Friday's U.S. inflation releases compiled before hostilities erupted - risk being overshadowed. Away from the Middle East, China will remain busy with its "Two Meetings" sessions, while in Latin America, Colombia holds [Read more]

More LNG tankers divert as Asian buyers seek cargoes

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More tankers carrying liquefied natural gas are diverting towards Asia as buyers scramble for replacement cargoes after the Middle East war halted tanker traffic through the Strait of Hormuz and disrupted supplies from Qatar, the world's second-largest seller of the fuel. Shiptracking data by analytics firms Kpler and LSEG show three LNG tankers diverting towards Asia so far. Carrying U.S. cargoes from the Plaquemines and Corpus Christi LNG terminals, respectively, the Simsimah and Clean [Read more]

Saudi Aramco boosts Red Sea oil shipments as Hormuz disruption curbs exports

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Top oil exporter Saudi Arabia is increasing shipments from the Red Sea, but the volumes are far from enough to offset the drop from the crisis-hit Strait of Hormuz, shipping data showed. Saudi Arabia and other Gulf producers - the United Arab Emirates, Kuwait and Iraq - have halted Hormuz shipments since Saturday after the United States and Israel attacked Iran and Tehran retaliated with drone and missile strikes. With hundreds of vessels now stuck near the strait, Aramco has told some [Read more]