Headlines

The White House on Monday released terms of the U.S.-Venezuela oil deal with North American Blue Energy Partners. * The release comes days after Washington and Caracas struck a deal that gives U.S. partial control of Venezuela's oil reserves. * "NABEP has developed an ambitious plan to rapidly scale production by investing up to $100 billion in new oil infrastructure in Venezuela, helping to drive economic growth, support thousands of high-paying jobs in Venezuela, and lead to tens of [Read more]

OTTAWA, ON, Aug. 31, 2026 /CNW/ -- The world is changing rapidly. In response, Canada's new government is focused on what we can control: building a stronger, more resilient, more independent Canadian economy that is not reliant on any single trading partner. Central to this mission is our ambitious plan to catalyse $1 trillion in total investment in Canada over the next five years. Invest in Canada is a key player in this mission – guiding investors from initial interest to shovels in the [Read more]

The large-scale oil production agreement that Venezuela and the U.S. disclosed last week requires a complicated three-layer structure to develop at least a portion of the 64 billion barrels of proved reserves contained in the 17 oilfields included in the deal. If completed as it is being negotiated so far, the pact will immediately provide the U.S. with a base volume of exportable Venezuelan crude from mature fields already in operation, with total production set to grow to up to 1.5 million [Read more]

EDMONTON - Alberta Premier Danielle Smith is pushing her message for an end to the fierce U.S.-Canada trade war directly to Americans. Smith, appearing on the Fox Business Network, says Canadians are confused and disappointed by U.S. President Donald Trump's recent effort to rebrand Lake Ontario as Lake America. She says it's particularly confounding given the two countries' long-standing economic and military relationship. Smith says Canadian troops stood shoulder-to-shoulder with [Read more]

The Trump administration will soon announce sharply lower vehicle fuel-economy standards, reversing a push by the prior administration to force automakers to build more fuel-efficient vehicles, Transportation Secretary Sean Duffy said Monday. The National Highway Traffic Safety Administration in December proposed significantly reducing fuel economy requirements from model years 2022 to 2031, requiring a fleetwide average 34.5 miles per gallon by 2031, down from 50.4 miles per gallon (21.4 km [Read more]

Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 3.1 million barrels to 286.6 million barrels last week, the lowest level since November 1982, according to data from the Department of Energy. The drawdowns are part of a U.S. agreement to release 172 million barrels from the facility. (Reporting by Anjana Anil in Bengaluru; Editing by Mark Porter) [Read more]