Venezuela plans stock sale of state-owned companies
CARACAS, Venezuela (AP) — In a break from its socialist model, Venezuela's government plans to open for private investment a number of state-owned companies in vital sectors as it seeks to address a need for capital for severely underinvested businesses. Scant...
Crescent Point reports $1.18B Q1 profit, raises quarterly dividend
CALGARY — Crescent Point Energy Corp. raised its quarterly dividend as it reported first-quarter net income of $1.18 billion, boosted by a reversal of a non-cash impairment charge related to the rise in energy prices. The company said it will...
Southeast Saskatchewan Legend Ron Carson
Ron Carson is a Southeast Saskatchewan Legend.
Alberta Premier Kenney heading to U.S. to talk oil, energy security with lawmakers
EDMONTON — Alberta Premier Jason Kenney will head to Washington D.C. next week to speak to lawmakers about the importance of getting more oil from Canada. Kenney will speak to the U.S. Senate Committee on Energy and Natural Resources about...
Former B.C. premier says Canada has taken a back seat to others in LNG market
VANCOUVER — Former British Columbia premier Christy Clark says Canada’s natural gas industry is losing ground internationally because of government over-regulation, while Australia makes more gains in the Pacific market. Speaking as part of a...
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White House, senators have ‘sympathy’ for Canada’s position on Line 5, says Wilkinson
White House officials, Capitol Hill lawmakers and the U.S. secretary of energy have all expressed “significant sympathy” for the plight of Canada’s Line 5 pipeline, Natural Resources Minister Jonathan Wilkinson said Thursday after a day of meetings in the U.S. capital.
Biden cancels offshore oil lease sales in Gulf Coast, Alaska
WASHINGTON (AP) — The Biden administration says it is canceling three oil and gas lease sales scheduled in the Gulf of Mexico and off the coast of Alaska, removing millions of acres from possible drilling as U.S. gas prices reach record highs.
Ottawa approves new $10B loan guarantee for the Trans Mountain pipeline project
OTTAWA – The federal government has approved a new, approximately $10-billion loan guarantee for the Trans Mountain pipeline expansion, a move it says is common practice and does not reflect any additional public funding for the high-profile, over-budget oil pipeline.
Conservative debate: Poilievre fends off attacks, promises to fire Macklem
By Stephanie Taylor in Edmonton Candidates vying for the Conservative leadership framed the country — and the party — as deeply divided at the first official debate on Wednesday, and took turns pointing fingers at one rival they accuse of driving disunity in the race....
Scotiabank no longer a member of oil and gas lobby group CAPP
By Amanda Stephenson in Calgary Scotiabank has chosen not to renew its long-running membership in the Canadian Association of Petroleum Producers, a move that comes at a time when financial institutions are facing growing scrutiny for their role...
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Douglas Tompson: First lesson learned on the rigs – be good to the camp dishwasher
My name is Douglas Tompson and I’m an oil rig worker. I say that I’m an oil rig worker because it makes a long story much simpler. I used to be an oil rig worker and I travelled an unusual path into oilfield training, but I define myself as an experienced roughneck that rarely enjoys the sight of a rig floor.
After victory over Bill C-69, but with the Supreme Court ahead, Saskatchewan’s energy minister says, “We just have to keep fighting”
REGINA – After striking out several times in court on the carbon tax, Alberta, with Saskatchewan at its side as an intervenor, hit it out of the park on May 10 with a ruling by the Alberta Court of Appeals. That ruling declared the Impact Assessment Act,...
Suncor uninterested in selling Petro-Canada, CEO says despite shareholder pressure
CALGARY — Suncor Energy Inc. is not interested in selling off its Petro-Canada retail network, the oil giant's chief executive said Tuesday, in spite of pressure from an aggressive activist investor. Speaking publicly for the first time since...
Trudeau says feds will appeals court decision throwing out the Impact Assessments Act
OTTAWA – Reaction in Ottawa was swift in response to the Alberta Court of Appeal’s ruling on the Impact Assessments Act, derided as its critics as the “No More Pipelines” bill.
Alberta Appeal Court says federal environmental impact law not OK
By Colette Derworiz CALGARY - The Alberta Court of Appeal says the federal government's environmental impact law is unconstitutional. The Alberta government, calling it a Trojan Horse, had challenged the Impact Assessment Act over what the province argued was its...
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Saturn saw $109.20 per bbl for its crude in Q1
CALGARY – Saturn Oil & Gas Inc. has continued its winning streak with its acquisition of oil producing assets in southeast Saskatchewan from Crescent Point. The numbers have meant large improvements year-over-year. And the large numbers aren’t only in production....
Suncor Energy reports earnings of $2.95B as oil prices surge
CALGARY - Suncor Energy Inc. says it earned $2.95 billion in the first quarter, up from $821 million in the same period of 2021, as the war in Ukraine and energy supply fears drove oil prices higher. The Calgary-based oil producer and refiner reported after markets...
Cenovus plans on using Lloydminster Upgrader to process oilsands product, sell Lloydminster Blend on the market
When Cenovus put out its earnings statement on April 27, there wasn’t a lot of mention of northwest Saskatchewan. Last year, Cenovus acquired Husky Energy, Saskatchewan’s largest oil producer, whose principal operations were in the Lloydminster region. But what was...
Parkland Corp. to build renewable diesel plant at Burnaby refinery
CALGARY — Parkland Corp. says it plans to spend $600 million to increase renewable fuel production at its Burnaby refinery in British Columbia. The Calgary-based fuel retailer says it will ramp up the amount of renewable material it currently refines alongside traditional petroleum-based materials by 5,500 barrels per day.
Ensign Energy Services reports first-quarter revenue up more than 50%
CALGARY — Ensign Energy Services Inc. reported a profit in its latest quarter compared with a loss a year ago as its revenue grew more than 50 per cent. The Calgary-based company says it earned a profit attributable to common shareholders of $6.6...
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Quick Dick McDick: You As Mom
And now for the softer side of Quick Dick McDick. Did you know he could sing and play guitar? And don’t forget to contribute to the #SaveItOrShaveIt campaign for cancer research!
Canadian Natural Resources first-quarter profit more than doubles
Canadian Natural Resources Ltd.’s profits more than doubled from a year ago in the first quarter, as surging oil prices pushed the Calgary-based energy company closer to reaching its debt reduction target. On Thursday, CNRL said it earned $3.1 billion or $2.63 per diluted share for the quarter ended March 31, up from $1.38 billion or $1.16 per diluted share in the same quarter last year.
Still ‘non-negotiable:’ Canada’s natural resources minister redraws line on Line 5
WASHINGTON — Natural Resources Minister Jonathan Wilkinson is doubling down on Canada's assertion that the continuing operation of the Line 5 pipeline is "non-negotiable." Wilkinson made the comments in the House of Commons today following media...
Definition of ‘inefficient fossil fuel subsidy’ still elusive in Canada
OTTAWA — Canada is still working on defining an "inefficient" fossil fuel subsidy, some 13 years after it signed an international agreement to eliminate them and four years since launching a peer review with Argentina to identify what subsidies...
Record profits for oil companies should be invested in climate action: Guilbeault
By Mia Rabson in Ottawa Canada's big oil companies are making record profits this year and should be using some of that extra cash to invest in things that curb their greenhouse gas emissions, Environment Minister Steven Guilbeault said Thursday....