The Competition Bureau has released its final anti-greenwashing guidelines after considering more than 400 responses to the legislation that took effect about a year ago. "While a lot of the feedback in the submissions is reflected in the final guidance, some is not," the bureau said in a backgrounder accompanying Thursday's announcement. For instance, some suggested the guidelines spell out for businesses exactly what environmental claims they can make in their marketing material and [Read more]
News
Irving Oil invests $100 million in Saint John refinery upgrade
Irving Oil said on Thursday it plans to invest $100 million to upgrade a key crude oil processing unit at its 320,000 barrel-per-day Saint John facility in New Brunswick, Canada's largest refinery. The refiner plans to increase the efficiency and reliability of its fluid catalytic cracking unit (FCCU), which produces refined products including gasoline and diesel. The refinery supplies fuel across markets in Atlantic Canada and the U.S. Northeast. "As we build for the future, we do so with [Read more]
Saturn Oil & Gas Inc. Announces Intention to Commence Inaugural Substantial Issuer Bid, Continuing Capital Return Strategy and Further Enhancing Per Share Metrics
Saturn to offer $2.15 per common share through a fixed price tender, representing an approximate premium of 20% over the current share price on the TSX $15 million to be returned to shareholders assuming full participation, bringing total share repurchases by Saturn to approximately $34 million since Aug/24, equivalent to approximately 10% of current market capitalization Calgary, Alberta--(Newsfile Corp. - June 5, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or [Read more]
AER announces new Hearing Commissioner appointments
June 5, 2025 Calgary, AB - The Alberta Energy Regulator (AER) is pleased to announce that the Government of Alberta has appointed several new hearing commissioners and reappointed others, effective July 25, 2025. Harold Robinson has been reappointed as a full-time commissioner for a three-year term. Brian Zaitlin and Shona Mackenzie, both currently part-time commissioners, have been appointed as full-time commissioners for three-year terms. Shauna Cartwright has been appointed as a [Read more]
STEP Energy Services Ltd. Announces Annual General Meeting Voting Results and Appointment of Board Chair and Lead Director
CALGARY, Alberta--(BUSINESS WIRE)--STEP Energy Services Ltd. (“STEP”) (TSX: STEP) is pleased to announce that at its 2025 annual general meeting of shareholders held on June 4, 2025, each of the following seven nominees were elected as directors of STEP on a vote passed by ballot to serve until the next annual meeting of shareholders of STEP, or until their successors are elected or earlier appointed. Proxies were received on this matter as follows: Nominee # Votes For % Votes [Read more]
Vermilion Energy selling U.S. assets for $120 million in cash
CALGARY - Vermilion Energy Inc. has signed an agreement to sell its assets in the U.S. for $120 million in cash. The company says the deal includes about 5,500 barrels of oil equivalent per day of production and about 10 million barrels of oil equivalent of proved developed producing reserves. Vermilion says net proceeds from the sale will be used to repay debt. The deal has an effective date of Jan. 1 and is expected to close in the third quarter. The company also updated its 2025 [Read more]
Vermilion Energy Inc. Announces Agreement to Sell United States Assets and Provides Updated 2025 Guidance
CALGARY, AB, June 5, 2025 /CNW/ - Vermilion Energy Inc. ("Vermilion" or the "Company") (TSX: VET) (NYSE: VET) is pleased to announce that it has entered into a definitive agreement for the sale of its United States assets (the "Assets") for cash proceeds of $120 million (the "Transaction"). Net proceeds from the Transaction will be directed towards debt repayment to further accelerate deleveraging efforts and strengthen Vermilion's balance sheet. Based on current strip commodity [Read more]
Putin is ready to help Trump on Iran nuclear negotiations, the Kremlin says
President Vladimir Putin told U.S. President Donald Trump that he was ready to use Russia's close partnership with Iran to help with negotiations over Iran's nuclear programme, the Kremlin said on Thursday. Trump said after a phone call with Putin on Wednesday that time was running out for Iran to make a decision on its nuclear programme and that he believed Putin agreed that the Islamic Republic should not have nuclear weapons. Putin, according to Trump, suggested that he participate in [Read more]
Malaysia’s Petronas to cut 10% of workforce, not exiting Canada, CEO says
Malaysian state energy firm Petroliam Nasional, or Petronas, will retrench about 10% of its workforce in a restructuring exercise, its chief executive said on Thursday. Tengku Muhammad Taufik also denied at a media briefing that the state firm was exiting its business in Canada. Local media has previously reported Petronas as saying it needed to "rightsize" its workforce to ensure the company's survival in the coming decades. Petronas has nearly 50,000 employees, according to its [Read more]
Tourmaline declares quarterly dividend and announces election of Directors
CALGARY, AB, June 4, 2025 /CNW/ - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.50 per share. The dividend will be payable on June 30, 2025 to shareholders of record at the close of business on June 16, 2025. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. ELECTION OF DIRECTORS Tourmaline [Read more]
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