The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Thursday. WCS for August delivery in Hardisty, Alberta, settled at $15.25 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared to $13.90 a barrel on Tuesday. Wednesday was a national holiday in Canada. * The discount is now trading at levels similar to May, having unwound most of the tightening that took place in June due to wet weather and a [Read more]
Headlines
B.C., Carney ink deal to retain northern tanker ban ahead of Alberta pipeline update
The plan for a new Alberta bitumen pipeline to the British Columbia coast came into focus Thursday as Prime Minster Mark Carney toggled between the two provinces to meet leaders and make announcements. At a news conference in Vancouver, Carney and B.C. Premier David Eby unveiled a memorandum of understanding that Carney says will help unlock more than $200 billion in new investment, with British Columbia as the "linchpin." The deal also maintains the tanker ban off B.C.’s northern coast [Read more]
Canada, British Columbia pledge to accelerate four LNG export projects
Canada and British Columbia have agreed to accelerate the development of four major liquefied natural gas export projects as part of a broader agreement aimed at expanding energy exports and strengthening the country's trade infrastructure. Prime Minister Mark Carney and British Columbia Premier David Eby on Thursday signed a Canada-British Columbia Cooperative Prosperity Agreement that identifies LNG Canada Phase 2, Ksi Lisims LNG, Cedar LNG and Woodfibre LNG as priority projects. Under [Read more]
Canada and British Columbia strike new cooperative prosperity partnership to build a stronger, more sustainable economy
July 2, 2026 Vancouver, British Columbia The world is changing rapidly. In response, Canada is focused on what we can control: building a stronger, more independent, and more sustainable economy. To that end, Canada’s new government is working with provinces, territories, and Indigenous partners to build major projects that diversify our exports, create thousands of new high-paying careers, and unlock Canada’s full potential as an energy superpower. With its vast natural resources and [Read more]
Canada’s Carney says pact with British Columbia maintains northwest coast oil tanker ban
The province of British Columbia announced a deal with Canada's federal government on Thursday that maintains the federal ban on oil tankers along the country's northwest coast, but appears to open the door to neighboring Alberta's proposal for a new crude oil pipeline if a different route is proposed. The deal was announced just hours before Carney is expected to travel to Alberta to join Premier Danielle Smith as she announces her province's proposal for a new pipeline with the capacity to [Read more]
Green light for Greenlight: Pembina, partners go ahead with gas plant for data centre
CALGARY - Pembina Pipeline Corp. and two partners have given the go-ahead to the Greenlight Electricity Centre, a natural gas plant serving a data centre customer. Pembina, Morgan Stanley Infrastructure Partners and Kineticor Asset Management expect the cost of the project to come in at $4.6 billion. The 932-megawatt plant would be built in Sturgeon County, part of Alberta's Industrial Heartland region north of Edmonton, with startup targeted for the second half of 2030. Data centres [Read more]
US energy firms add rigs for third week in a row, says Baker Hughes
U.S. energy firms this week added rigs for a third week in a row, energy services firm Baker Hughes said in its closely followed report on Thursday. The total oil and gas rig count, an early indicator of future output, rose by 7 to 580 in the week to July 2, its highest since May 2025. Baker Hughes released the rig count report a day earlier than usual due to the U.S. July 4th holiday, which is being recognized on Friday, July 3. Baker Hughes said this week's increase puts the total rig [Read more]
Pembina approves Alberta power project tied to major data center development
Pembina Pipeline said on Thursday it will go ahead with its planned C$4.6 billion ($3.24 billion) Greenlight Electricity Centre in Alberta, a project that will power the development of a major data center for an as-yet-unnamed customer. The Calgary-based pipeline company announced a positive final investment decision on the Greenlight project, a 932-megawatt natural gas-fired power-generation facility to be located in Sturgeon County in central Alberta. Pembina — which is partnering with [Read more]
Ovintiv to Host its Second Quarter 2026 Results Conference Call and Webcast on July 24, 2026
DENVER, July 2, 2026 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its second quarter 2026 results conference call at 9:00 a.m. MT, on Friday July 24, 2026. The Company plans to release its financial and operating results after market close, Thursday July 23, 2026. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call without operator [Read more]
Pembina Pipeline Announces Positive Final Investment Decision on the Greenlight Electricity Centre
All financial figures are in Canadian dollars unless otherwise noted. This news release refers to certain financial measures and ratios that are not specified, defined or determined in accordance with Generally Accepted Accounting Principles ("GAAP"), including annual run rate adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"). For more information see "Non-GAAP and Other Financial Measures" herein. CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline [Read more]
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