CALGARY - Oil and gas giant Canadian Natural Resources Ltd. says it's expecting a small increase in spending and production in 2026 as it looks toward future oilsands expansions. The Calgary-based company says its capital budget for next year has been set at about $6.43 billion, up from the $6.15 billion it had targeted for 2025. That includes $175 million in early-stage engineering and design work on expansions to two steam-driven projects and the Jackpine mine in Alberta's [Read more]
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Fluor’s Commitment to a Sustainable Future
How Fluor’s Emerging Leaders Group drove meaningful action on sustainability Authors: Steven Gibbard, Supply Chain Commercial Strategies Director & Avery Foret, Design Engineer – Fluor Canada Ltd. Fluor has demonstrated a longstanding commitment to environmental stewardship; both through the projects we execute and the practices we uphold in our offices. In 1983, Fluor built the world’s first large-scale photovoltaic power plant for ARCO Solar. That milestone marked the [Read more]
Why is the Trump administration putting pressure on Venezuela?
Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth will hold closed, classified briefings for all U.S. senators and representatives on Tuesday about the Trump administration's strategy toward Venezuela. President Donald Trump's objectives remain unclear to many lawmakers, even after 3-1/2 months, more than 20 deadly U.S. strikes on boats off the South American nation and a massive buildup of military force in the Caribbean. Below is a look at the mix of issues that appear to [Read more]
Canadian Natural Resources Limited Announces 2026 Budget
Calgary, Alberta--(Newsfile Corp. - December 16, 2025) - Canadian Natural's (TSX: CNQ) (NYSE: CNQ) President, Scott Stauth, commented on the Company's 2026 budget, "Our 2026 budget is anchored around our unparalleled assets, execution, and resilience, which positions Canadian Natural as one of the most reliable and value-driven independents in our industry. Our low cost, long life low decline asset base allows Canadian Natural to maintain a strong balance sheet through commodity price cycles [Read more]
US investor group Kimmeridge offers $6 billion for gas driller Ascent Resources, FT reports
Activist investment firm Kimmeridge Energy Management has submitted a $6 billion offer to buy Ascent Resources, the Financial Times reported on Tuesday. The bid is the latest challenge to Ascent’s private equity backer Energy & Minerals Group's (EMG) efforts to sell a more than 30% stake in the company from one of its funds to another, valuing Ascent at $5.5 billion, FT said. "Our view is that this is a significant premium versus the valuation proposed in the continuation funds," [Read more]
STEP Energy Services Ltd. Announces Receipt of Final Order
CALGARY, Alberta--(BUSINESS WIRE)--STEP Energy Services Ltd. ("STEP" or the "Company") is pleased to announce that the Court of King’s Bench of Alberta has granted the final order in respect of the previously announced plan of arrangement (the "Arrangement") involving ARC Energy Fund 8 Canadian Limited Partnership, ARC Energy Fund 8 United States Limited Partnership, ARC Energy Fund 8 International Limited Partnership and ARC Capital 8 Limited Partnership (collectively, "ARC Energy Fund 8"), [Read more]
Oil slips on Russia-Ukraine peace deal talks, weak China data
Oil prices fell on Tuesday, adding to the previous session's losses, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations of a potential easing of sanctions. Brent crude futures fell 35 cents, or 0.6%, to $60.21 a barrel by 0350 GMT, while U.S. West Texas Intermediate crude was trading at $56.52 a barrel, down 30 cents, or 0.5%. "Crude oil fell as the market weighed up signs of optimism on a peace deal being reached between Russia and Ukraine," ANZ [Read more]
Pembina Announces 2026 Guidance, Agreement for Cedar Capacity, and Business Update
All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to certain financial measures and ratios that are not specified, defined or determined in accordance with Generally Accepted Accounting Principles ("GAAP"), including adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") and proportionately consolidated debt-to-adjusted EBITDA. For more information see "Non-GAAP and Other Financial Measures" [Read more]
Ovintiv inks deal for liquefaction capacity at Canada’s Cedar LNG facility
Oil and natural gas producer Ovintiv Inc on Monday announced a deal with Pembina Pipeline's subsidiary for liquefaction capacity at the planned Cedar LNG facility. The agreement gives Ovintiv 0.5 mtpa of liquefaction and transportation capacity at Cedar LNG for 12 years. The U.S. LNG sector is witnessing a resurgence in commercial activity, driven by expectations of rising exports as new terminals come online following President Donald Trump's January decision to lift a pause on new [Read more]
Imperial Oil lifts 2026 forecast for spending, output to boost cash flow, cut costs
Canada's Imperial Oil said on Monday it plans to increase capital spending and upstream production in 2026 as it doubles down on higher-return oil sands projects, aiming to lower costs and generate stronger cash flow. Oil companies have been tightening spending and focusing on efficiency as oil prices soften, prioritizing high-return projects and reliability improvements over large new developments. The oil producer had said in September it would cut about 20% of its workforce by end-2027 [Read more]
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