oil

CNRL Announces Major Production and Spending Increase for 2025 Canadian Natural Resources Limited (CNRL) is ramping up its oil production and capital spending in 2025, signaling renewed optimism in Alberta’s energy sector. On Thursday, the Calgary-based company announced plans to increase its average annual production to between 1.51 million and 1.55 million barrels of oil […]

Alberta’s Minister of Environment, Rebecca Schulz, has strongly criticized the federal government’s proposed oil and gas emissions cap, calling it an “economic wrecking ball.” The plan, which mandates a 35% emissions cut by 2030, could cut production by one million barrels a day and result in up to 150,000 job losses nationwide, according to Alberta’s […]

Canadian oil and gas stocks rose Monday following Prime Minister Justin Trudeau’s resignation, with the S&P/TSX energy index climbing nearly 2% before ending the day up 0.79%. In Fort McMurray, the reaction was one of cautious optimism. “Trudeau’s policies made Canada’s oil and gas sector uncompetitive,” said Heather Exner-Pirot of the Business Council of Canada. […]

Suncor Reports Record-Breaking Production and Refining Results for 2024 Suncor Energy (TSX: SU) has announced record-breaking operational results for 2024, highlighting significant growth in oil sands production and refinery utilization. The company achieved an annual average production of 827,000 barrels per day (bbls/d), an 11 per cent increase from 2023. Fourth-quarter production reached a record […]

Alberta Partners with Enbridge to Double Oil Production and Boost Exports The Alberta government is making plans to double the province’s oil production and expand crude exports to the United States. To advance this goal, Alberta has signed a letter of intent with Calgary-based Enbridge. The agreement will create a working group with the Government […]

Canadian Oil Majors Forecast Higher Production in 2025 Amid Demand Optimism and Policy Uncertainty Canadian oil giants Suncor, Cenovus, and Imperial Oil each released corporate guidance on December 12. The companies are taking a bullish stance on 2025, forecasting production increases despite looming policy and potential trade challenges. Suncor outlines plans to boost production to […]

RMWB Tax Incentive Fuels Major Energy Investment Fort McMurray, AB – A major energy investment in the Regional Municipality of Wood Buffalo (RMWB) is set to generate hundreds of jobs and boost the local economy. Wolf Midstream, a Calgary-based energy company, has announced plans to expand its operations in the region with the construction of […]

Oil Industry Pushes Back Against Trump’s Proposed Tariffs on Canadian Exports The oil industry is sounding the alarm over President-elect Donald Trump’s proposed 25 per cent tariffs on all Canadian exports to the United States, including energy. The move could have significant consequences for U.S. energy security and consumer fuel prices, analysts warn. Patrick De […]

Alberta Projects $4.6 Billion Surplus Amid Economic Uncertainty Alberta is projecting a $4.6 billion surplus this fiscal year, higher than its previous estimate of $2.9 billion made in the first quarter update. The surplus comes from higher-than-expected income tax revenue and non-renewable resources, but Finance Minister Nate Horner cautioned that the projection comes with significant […]

Imperial Oil Fined Over $1 Million for Sarnia Spill Impacting Aamjiwnaang First Nation Imperial Oil has been fined over $1 million after pleading guilty to a charge under Ontario’s Environmental Protection Act. The case relates to a 2021 release of approximately 1,150 litres of slop oil at its Sarnia refinery. According to documents published by […]