Canada’s Trans Mountain pipeline expansion is now operational, boosting oil transportation capacity and enabling record-breaking oil production.
Canada’s LNG Canada liquified natural gas export facility nears completion, targeting global markets and reducing exports to the United States.
Canada’s energy industry expansion aims to gain strategic economic ground on a global scale, while maintaining close trade relations with the United States.
Africa Oil Corp. (“Africa Oil”, or the “Company”) is pleased to announce that the Company repurchased a total of 1,213,100 Africa Oil common shares during the period of March 18, 2024 to March 22, 2024 under the previously announced share buyback program
The Trans Mountain pipeline project is inching closer to becoming operational and a commodities analyst says Canada’s oil sector will benefit significantly once the pipeline project comes online.
Last Thursday at the 28th United Nations Climate Change Conference (COP28) in Dubai, Canada made a significant announcement regarding its plan to implement a cap-and-trade system to curb greenhouse gas emissions within the nation’s oil and gas industry.
Canadian Prime Minister Justin Trudeau’s announcement on Thursday that the fossil fuel industry will have to slash emissions by 35% to 38% below 2019 levels beginning in 2030 has led to an industry backlash warning that this policy will result in a significant reduction of output and high energy prices for consumers.
Canada’s oil and gas extraction industries deployed CAD 10.6 billion ($7.85 billion) in capital during the third quarter (Q3), up 1.68 percent from the prior three-month period and 12.76 percent from the same quarter last year, official data has shown.
Oil prices have nearly erased all year-to-date gains as shrinking refining margins signal weaker demand for oil.
Last week, Canada’s Prime Minister pledged to the UN General Assembly that he would cap emissions from the country’s oil and gas industry this year. Interestingly, the only leaders allowed to speak at the gathering were those who had made firm climate change commitments, and even though Trudeau was among them, he was criticized for the fact that “Canada was one of the largest expanders of fossil fuels last year,” per a CBC report.
Repsol has agreed to sell its oil and gas assets in Canada to Peyto for $468 million (approx. €433 million) as part of its ongoing portfolio management to focus activity on core regions.
Canada has put 47 concession areas on offer in its latest offshore oil and gas bid round in the eastern province of Newfoundland and Labrador, the Canada-Newfoundland and Labrador Offshore Petroleum Board announced on Monday.