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OTTAWA - Energy and Natural Resources Minister Tim Hodgson said on Monday the government is getting close to being able to provide clarity on whether Ottawa would repeal the West Coast oil tanker ban. Hodgson made the remarks while appearing before the House of Commons committee on natural resources, when he was asked about the status of the legislation prohibiting tankers from carrying more than 12,500 metric tons of crude oil in areas along the Northern coast of British Columbia. The [Read more]

Igor Sechin, one of the most influential men in Russia's energy sector, said on Tuesday that sanctions imposed by the United States, European powers and their allies on Russia and China will trigger an economic crisis in the West. The West has slapped waves of sanctions on Russia since it annexed Crimea from Ukraine in 2014 and introduced what it says are the toughest ever sanctions imposed on a major economy after Russia sent troops into Ukraine in February 2022. China has accused the [Read more]

Oil prices eased on Tuesday as concerns supply will exceed demand next year outweighed worries that Russian shipments will remain under sanctions as talks to end the Ukraine war remain inconclusive. Brent futures fell 27 cents, or 0.4%, to $63.10 a barrel as of 0500 GMT. West Texas Intermediate (WTI) crude declined 23 cents, or 0.4%, to $58.61. Both crude benchmarks gained 1.3% on Monday as rising doubts about a peace deal to end the Russia-Ukraine war reduced expectations for the [Read more]

BP's Olympic Pipeline system remained shut on Monday as the company and authorities investigated a fuel leak near Everett, Washington, while airlines activated contingency plans to limit disruptions during the busy Thanksgiving travel week. The leak was first reported on November 11. BP restored one of the two pipelines east of Everett that had been shut to determine the source of some product discharge. The restored line was shut down again shortly afterward, halting refined product [Read more]

VICTORIA - British Columbia Premier David Eby says he told Prime Minister Mark Carney "how unacceptable" it was for Alberta and Saskatchewan to talk with the federal government about a potential pipeline without input from his province.  Eby says such treatment would not happen to any other province, adding that he expects Ottawa to include B.C. and Coastal First Nations as full participants in any future talks. The premier's comments come as the federal government and Alberta are said to [Read more]

Revenue from energy production on U.S. public lands and waters fell 11% in the latest fiscal year to $14.61 billion, the Interior Department said on Monday, citing lower prices for commodities like oil. WHY IT'S IMPORTANT The total was the lowest since 2021, the first year of the administration of U.S. President Joe Biden, but was the fifth highest year since 1982. President Donald Trump has vowed to boost energy production on federal lands and waters, as part of his energy dominance [Read more]