VICTORIA - Lifting the oil tanker ban off British Columbia's North Coast for a nonexistent pipeline from Alberta would endanger billions in other real investments that Premier David Eby says will need the support of coastal First Nations. Eby says he's asking the federal government to reaffirm its support for the tanker ban off the West Coast, after Prime Minister Mark Carney said on Friday that lifting the tanker ban would depend on a number of factors. Alberta Premier Danielle Smith has [Read more]
News
Oil bosses expect market surplus to shrink over time
The global oil market is set to tighten in the medium to longer term, recovering from short-term weakness, executives from oil majors and trading houses said on Tuesday. Rising output from OPEC+ - which groups the Organisation of Petroleum Exporting Countries and allies - as well as from other producers, together with expectations that trade tensions will lead to reduced demand have weakened oil prices this year. Brent futures traded around $62 a barrel on Tuesday - down by over $15 from a [Read more]
Fed’s Bowman expects two more interest rate cuts this year
Federal Reserve Governor Michelle Bowman on Tuesday said she continues to anticipate that the U.S. central bank will deliver interest rate cuts at its final two policy meetings of 2025. “I continue to see two more cuts before the end of this year,” Bowman said at an event in Washington. The Fed last month cut its benchmark interest rate by a quarter of a percentage point to the 4.00%-4.25% range, its first reduction in borrowing costs since last December. Projections released alongside its [Read more]
Parkland-Sunoco deal receives Investment Canada Act approval
CALGARY - Parkland Corp. says the federal government has granted Investment Canada Act approval for Sunoco LP's proposed takeover of the company, a key regulatory milestone for the deal. The company says the transaction is expected to close in the fourth quarter of this year, subject to remaining regulatory approvals and the satisfaction or waiver of customary closing conditions. Parkland and Sunoco announced the friendly cash-and-stock deal valued at US$9.1 billion including assumed debt [Read more]
Waterous Energy Fund Announces Cancellation of Subscription Receipts of Strathcona Resources Ltd.
CALGARY, Alberta--(BUSINESS WIRE)--Waterous Energy Fund Management Corp. (the "WEF Manager"), in its capacity as manager of Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (US) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund III (International FI) LP (collectively, the "WEF Receiptholders") and as manager of certain other limited partnerships, including but not limited to, Waterous Energy Fund (Canadian) LP, [Read more]
IMF ups Saudi Arabia’s 2025 GDP growth forecast to 4% as oil output rises
The International Monetary Fund upgraded its 2025 economic growth forecast for Saudi Arabia on Tuesday due to a faster-than-expected unwinding of oil production cuts in the world's top crude exporter. In its latest World Economic Outlook, the IMF lifted its forecast for Saudi Arabia's GDP growth in 2025 to 4%, from 3% it projected in April. Growth in 2026 was revised slightly higher to 4% as well. Accelerating growth in the oil and gas exporters of the Gulf states was expected to also lift [Read more]
Invico Energy Ltd.: Property Divestiture
Invico Energy Ltd. (“Invico” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of certain of its oil and natural gas interests located in Alberta and Saskatchewan (the “Properties”). The Properties consist of non-operated working interests in the Central AB, Swan Hills, Mitsue, Northern AB, and Peace River packages, and operated working interests in the Saskatchewan package. Preference will be given to offers to acquire all of the Properties in each [Read more]
Even nearly-free natural gas can’t help customers: Attracting investment means solving Alberta’s gas delivery problem and Canada’s suffocating tax problem
Ok, someone’s gotta say it. A few things need fixing if Canada is to begin attracting significant investment again. Here’s one no one likes to talk about. Something is severely broken in the intra-Alberta gas market. Natural gas producing companies are being driven into bankruptcy due to pathetically low natural gas prices. Hold on, you might think, that's not all bad - low natural gas prices are a boon to investment; they should attract any industry that relies on affordable gas. Low AECO [Read more]
Save the Date – Reservoir Characterization for Energy Security Symposium
February 4–5, 2026 The Bow Sky Garden Auditorium, Calgary The Canadian Energy Geoscience Association (CEGA) is proud to launch the Reservoir Symposium, a new biennial event dedicated to advancing knowledge, collaboration, and innovation in reservoir characterization. The 2026 theme, Reservoir Characterization for Energy Security, underscores the vital role geoscientists play in ensuring a resilient, diverse, and sustainable energy future for Canada. Energy security is about more than [Read more]
Oil executives flag increased costs from Trump’s tariffs
The executives of two oil companies warned this week that tariffs resulting from the U.S. administration's trade policies were driving up costs across the energy production chain and affecting investment decisions. TotalEnergies CEO Patrick Pouyanne told the Energy Intelligence Forum in London on Tuesday that tariffs on steel were pushing up costs for liquefied natural gas (LNG) projects. In June, Trump signed an executive proclamation hiking tariffs on steel and aluminium imports to [Read more]
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