Prime Minister Mark Carney on Wednesday played down the idea of curbing oil supplies to the United States to gain leverage in a trade war, saying that would harm Canada's reputation. President Donald Trump, who has already imposed a raft of tariffs against Canada, on Tuesday said he did not care about renewing the U.S.-Mexico-Canada free trade deal. He is also threatening another round of punitive measures later this month. Last week Carney said he and Trump had agreed to intensify trade [Read more]
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Trump and Netanyahu explored all Iran options including attack, Israeli official says
U.S. President Donald Trump and Israeli Prime Minister Benjamin Netanyahu explored all paths to curb Iran's nuclear project in their meeting, including diplomacy, economic pressure and force, a senior Israeli official said on Wednesday. Netanyahu did not tell Trump that Israel's preference was for an attack on Iran, the official said in a briefing with reporters after the two men met in the White House on Tuesday. "In the end, it's his decision," the official said of Trump. Trump has three [Read more]
Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer, sources say
Shell and Phillips 66 are working on a potential sale of their stakes in the company which owns the Explorer refined products pipeline, in a deal that could value the major piece of U.S. energy infrastructure at around $3.5 billion, people familiar with the matter said. The move reflects how heightened demand for energy infrastructure assets, especially from financial buyers, has boosted valuations and encouraged existing owners to sell and reinvest proceeds in core or higher-growth parts of [Read more]
Bank of Canada officials split over how long the recent economic rebound will last
OTTAWA - Members of the Bank of Canada's governing council were split over how sustainable a recent economic rebound could be, deliberations from the central bank's rate decision earlier this month show. The Bank of Canada held its benchmark interest rate steady at 2.25 per cent for a sixth straight time at its decision on July 15. Minutes tracking governing council's discussions heading into that announcement were released Wednesday. The deliberations show officials were growing more [Read more]
Canada advances global energy exports by signing second European LNG deal
NISGA'A NATION, BC, July 29, 2026 /CNW/ -- The world is changing rapidly. In response, Canada is focused on what we can control: building a stronger, more independent and more sustainable economy. As part of that plan, we are expanding and strengthening our international trade energy exports. Canada has what the world wants, and providing Canadian energy to our allies reinforces global energy security, domestic prosperity and Canada's position as an energy superpower. Today, The Honourable [Read more]
Ksi Lisims LNG inks 20-year supply deal with German utility Uniper
VANCOUVER - German utility Uniper says it has signed an agreement to purchase liquefied natural gas from the Ksi Lisims project planned for the northern British Columbia coast. Uniper and Ksi Lisims LNG say in a joint news release that the Duesseldorf-based company will purchase two million tonnes per year of LNG for up to 20 years, with first deliveries expected in 2032. They say the deal marks the first major long-term LNG supply agreement between Canada and Germany. Uniper and Ksi [Read more]
US, Saudi hit Iran’s allies in Iraq; Trump vows to punish Iran for firing at troops
The United States and Saudi Arabia jointly struck Iran-backed groups in Iraq on Wednesday, and President Donald Trump vowed to "beat the fucking shit" out of Iran for firing on U.S. troops just days after he suspended airstrikes. Iran confirmed late Tuesday that it had fired on U.S. bases in Jordan and at ships in the Strait of Hormuz, and also spurned an Omani proposal to jointly manage the strait. "We'll be hitting them hard," Fox News quoted Trump as saying. "We're going to beat the fucking [Read more]
US commercial crude stocks fall to lowest since 2018 on higher exports, refinery processing, EIA says
U.S. commercial oil inventory drew more than expected last week as refineries stepped up processing and exports climbed, the Energy Information Administration said on Wednesday, as the war between the United States and Iran escalated. Crude inventories, excluding stocks in the U.S. government's Strategic Petroleum Reserve, fell by 7.2 million barrels to 404.5 million barrels, the in the week ended July 24, the EIA said, the lowest level since 2018. That compared with analysts expectations in a [Read more]
Saudi consortium advances plans for $5 billion Gulf refinery
The MERA Oil consortium of U.S. and Saudi Arabian companies is advancing plans for a $5 billion integrated refinery and export corridor in the Gulf aimed at boosting regional energy infrastructure, its partners said on Wednesday, as the Iran war continues to disrupt energy flows. * Texas-based energy development company MWG Group, the Patel Family Office and PWS, an associate company of Saudi industrial conglomerate AHQ Group, have entered the final stage of site selection for the refinery, [Read more]
US issues new Iran-related sanctions targeting insurers, more tankers
The United States on Wednesday issued another round of Iran-related sanctions, taking aim at Iran's efforts to "monetize the Strait of Hormuz" with designations of 10 entities and eight more tankers, the U.S. Treasury Department said. Six of the entities targeted for sanctions were based in China, it said. The sanctions followed a vow by U.S. President Donald Trump earlier on Wednesday to hit Iran hard, according to an interview with Fox News, after the U.S. military said it had [Read more]
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