OPEC+ oil boost likely not much help to high gasoline prices
NEW YORK (AP) — The OPEC oil cartel and allied producing nations decided Thursday to boost production of crude by an amount that will likely do little to relieve high gasoline prices at the pump and energy-fueled inflation plaguing the global economy.
The increase of 648,000 barrels per day in August leaves the world thirsty for oil as it rebounds from the COVID-19 pandemic and runs up against the inability of the 23-member OPEC+ alliance to meet its production quotas.
OPEC+, which includes Russia, confirmed the decision from its last meeting. Before that, it had been adding about 432,000 barrels per day monthly to put oil back on the market after cutting production dramatically during the height of the pandemic.
New clean fuel regulations to raise gas prices, affect low-income Canadians the most
OTTAWA — New federal regulations to force down the greenhouse gas emissions from gasoline and diesel will cost Canadians up to 13 cents more per litre at the pump by 2030. An impact analysis of the Clean Fuel Regulations published Wednesday...
Higgs says New Brunswick LNG facility could help Europe cut energy ties with Russia
New Brunswick’s premier says a liquefied natural gas facility in Saint John could be modified to help reduce Europe’s reliance on fossil fuels from Russia.
Blaine Higgs told reporters Wednesday in Nova Scotia that gas plant Saint John LNG, which is owned by Spanish firm Repsol, could be retrofitted to export gas in about three years.
Clean fuel standards allow companies to get both tax credits and sell carbon credits
By Mia Rabson in Ottawa Canada's new emissions standards for gasoline and diesel will allow oil companies that get a federal tax break for installing carbon capture and storage systems to also generate credits based on those systems, which they can then sell to...
Imperial, ExxonMobil Canada selling Alberta assets to Whitecap for $1.9 billion
CALGARY — Imperial Oil Ltd. says it and ExxonMobil Canada have entered into an agreement to sell the Montney and Duvernay oil and gas-producing areas of central Alberta to Whitecap Resources Inc. for $1.9 billion. Imperial and ExxonMobil Canada...
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