Canada

Enbridge Inc. has assured shareholders that it would stay strong by adapting to the energy transition even as the Canadian midstream giant faces ongoing opposition from fossil fuel foes over its projects. “We believe that in all practical scenarios our assets will remain critical to supporting long-term energy demand,” said Enbridge President Al Monaco as…

Calgary-based Suncor Energy Inc. saw its earnings jump in the first half of the year, as oil demand rose and the pandemic receded, resulting in the North American retail unit standing out as the growth star. Maintenance turnaround projects, which limited production and sales by the refineries and oilsands operations during 2020 and early this…

Environmental cleanups to reduce carbon emissions have emerged as a fixture powered by an annual budget of up to C$40 million ($32 million) for top Canadian natural gas producer, Tourmaline Oil Corp. The agenda announced as part of its quarterly results includes cutting diesel motor use, methane leak control, paring down natural gas plant emissions,…

Precision Drilling Corp., whose operations extend across Canada, the Lower 48 and overseas, is running more rigs today than in the pre-pandemic days of 2019, with activations now underway, according to CEO Kevin Neveu. Speaking to investors during the 2Q2021 conference call, Neveu said the Calgary-based oilfield services giant delivered higher-than-expected revenue during 2Q2021.  In…

Toronto-based Brookfield Infrastructure Partners LP won a prolonged takeover contest for Inter Pipeline Ltd. (IPL) in Calgary today after adding an all-cash option to its bid for shareholder support and raising the total offer to about C$8.6 billion ($6.9 billion). At a cost of a deal-breaking penalty of C$350 million ($280 million), IPL canceled a…

Increased production, improved prices and strong exports to the United States turned Canadian oilsands specialist Meg Energy Corp. profitable in the first half of 2021, reversing deep losses inflicted a year ago by the Covid-19 pandemic. The Calgary firm’s bitumen production in northeastern Alberta grew to a first-half 2021 average of 91,326 b/d from 83,622…

Trans Mountain Corp. has won approval from Canadian federal authorities for a route detour to end a prolonged Indigenous territorial and environmental dispute that threatened to delay its C$12.6 billion ($10 billion) Trans Mountain Expansion crude pipeline project (TMX). The Canada Energy Regulator (CER) on Monday authorized the construction change, observing that no opposition had…

A rising Canadian carbon tax, scheduled to jump more than four-fold by 2030, has triggered a campaign by fossil fuel industry heavyweights to turn the greenhouse gas (GHG) emissions penalty into commercial opportunities. The efforts so far include TC Energy Corp., Pembina Pipeline Corp., Shell Canada Ltd., Canadian Imperial Bank of Commerce (CIBC), Sproule Associates,…

Shell Canada Ltd. on Tuesday set a 2023 target for a decision on expanding its Alberta carbon capture and storage (CCS) operation by adding an Edmonton-area oil refinery and petrochemical plant to the network. The expansion, titled Polaris CCS, would collect 750,000 tons/year of greenhouse gas (GHG) emissions from Shell’s Scotford plants east of the…