CHANCELLOR - Two people have been injured in a gas plant fire in southern Alberta. A spokesperson for STARS air ambulance says a man in his 70s was transported from the plant, about 88 kilometres east of Calgary, to hospital. He was listed in critical condition. Wheatland County Fire Services responded to the fire at the Canadian Natural Resources facility at 5:30 a.m. The blaze was later declared under control. Fire crews say the surrounding area was evacuated as a [Read more]
Headlines
Another oilsands boom? Smith, Carney say this time Canada will be ready
CALGARY - It's been a relatively quiet decade in Alberta's oilsands, but the federal and provincial governments believe a new West Coast pipeline coupled with policy shifts might help turn up the volume. Prime Minister Mark Carney was in Fort McMurray, Alta., this week to announce the first proposal to be deemed in the national interest under legislation passed last year: the million-barrel-per-day Pacific Link pipeline from Alberta to a tanker export terminal in southern B.C. The [Read more]
G7 to release 100 million barrels of oil in attempt to tame soaring fuel prices
OTTAWA - Canada and its fellow industrialized countries in the G7 agreed Friday to release 100 million barrels of oil and fuel products in the coming weeks. The pledge includes the release of "substantial" amounts of diesel after prices for the fuel recently hit record highs in the United States. U.S. President Donald Trump's war in Iran and Russia's war with Ukraine have both affected global oil supplies. Trump announced the action Friday on social media, and the G7 — which includes the [Read more]
US energy firms cut rigs for first time in six weeks, says Baker Hughes
US energy firms this week cut the number of rigs operating for the first time in six weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The total oil and gas rig count, an early indicator of future output, fell by one to 598 in the week to October 2, the lowest since mid-September. Baker Hughes said the total rig count was still up 49 rigs, or 9%, from this time last year. Baker Hughes said oil rigs rose by one to 456 this week, their highest since [Read more]
Saudis plan assault on Houthis to break Red Sea chokehold
Saudi Arabia is planning an offensive against Iran-backed Houthi militants in Yemen, with options being considered including a coastal push to secure the Red Sea shipping route or an assault on multiple fronts, regional and Western officials told Reuters. The operation, expected to be launched in the coming weeks, will by led by Yemeni forces on the ground, which are overseen by Riyadh, and supported by Saudi air strikes, according to six people with knowledge of the preparations. While [Read more]
Massachusetts governor asks Trump administration to speed natgas pipeline review
Massachusetts Governor Maura Healey called on the Trump administration to expedite the review of a natural gas pipeline that a unit of Canadian energy firm Enbridge is developing in New England. After opposing most new fossil fuel projects over the past decade or so, several states in the US Northeast region have become more accepting of fossil fuel projects in recent years in an effort to help reduce soaring consumer energy bills. * Healey called on the Trump administration on Thursday to [Read more]
G7 Leaders’ statement on global energy security and market stability
OTTAWA, ON, Oct. 2, 2026 /CNW/ -- "Today, we, the leaders of the G7, convened a virtual meeting to address the deepening challenges to our energy security. Facing unprecedented volatility in oil markets—with surging prices threatening economic stability and the well-being of our citizens—we have agreed on decisive, coordinated measures to stabilise immediate energy supplies, shield households and businesses from price shocks, and strengthen the long-term resilience of global energy [Read more]
South Korea says $8.4 billion oil project mentioned by Trump not part of deal with US, Yonhap reports
A $8.4 billion oil recovery project mentioned by US President Donald Trump is not part of a strategic investment agreement between the US and South Korea, Yonhap reported on Friday, citing an industry ministry official. The official said an inquiry has been sent to the US side through communication channels, according to the report. Trump said on Truth Social on Friday that a US trade deal with South Korea includes $8.4 billion for a project to pump gases into an aging oilfield to push out [Read more]
Trump says US deal with South Korea includes $8.4 billion for oil recovery
President Donald Trump said on Friday that a US trade deal with South Korea now includes $8.4 billion for an oil recovery project. "The Republic of Korea Deal keeps getting BETTER! 8.4 Billion Dollars for an enhanced Oil Recovery Project. Producing more Oil and Gas means American Energy Dominance and Energy Security in the World for the Future!" Trump wrote on Truth Social. The announcement is the latest in a series of economic and investment deals Trump is highlighting ahead of November's [Read more]
Brazil’s Petrobras makes new oil discovery off the coast of Amapa
Brazilian state-run oil company Petrobras said on Friday it had made a new oil discovery in ultra-deep waters off Amapa state, an area known as equatorial margin that it considers its most promising new oil frontier. According to a securities filing, an oil-bearing interval was found in the Morpho well, marking a new discovery in block FZA-M-59, where it had already identified hydrocarbons in August. * The oil found in August was of good quality, the firm said * Petrobras CEO Magda [Read more]