ATCO CEO: Oil Sector Can Weather Higher Carbon Price
ATCO CEO Nancy Southern says Canada's 'extraordinarily innovative' oil sector can withstand a higher carbon price, highlighting the industry's adaptability and technological advancements.
Category : Energy Sector
Hormuz oil flows plummet nearly 30% in Q1 2026
Oil flows through the Strait of Hormuz dropped nearly 30% in Q1 2026 due to the Iran war, causing Brent crude to surge over 45% and U.S. gas prices above $4.50.
Energy investment, exchange rate factors in possible BoC rate hikes
Bank of Canada Governor Tiff Macklem highlighted energy sector investment and exchange rate dynamics as key factors influencing potential rate hikes, amid mixed economic signals.
Copper Nears Record High; Aluminum Surges on Supply Tightness
Copper prices approach record highs above $14,000 per tonne amid global supply disruptions, while aluminum surges to multi-year highs on tightening LME warehouse inventories.
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Algoma Steel Net Loss Widens Amid Tariffs and Furnace Shift
Algoma Steel reports a $159 million Q1 loss due to U.S. tariffs and costs from transitioning to an electric arc furnace, with net loss widening significantly.
Algoma Steel's $159M Q1 Loss from Tariffs, Furnace Shift
Algoma Steel Inc. posted a $153.5 million operating loss in Q1, attributed to U.S. tariffs and costs from transitioning to an electric arc furnace. The net loss reached $159 million.
Alberta pipeline to get national interest designation this fall
The federal government plans to designate Alberta's proposed pipeline to the West Coast as a national interest project this fall, as part of a deal that also includes increasing the province's industrial carbon tax.
High Oil Prices Could Turn Alberta Deficit into Surplus
A report suggests that sustained high oil prices could transform Alberta's projected $9.4 billion deficit into a $6 billion surplus, offering fiscal relief.
US Wholesale Inflation Soars to 6% in April
U.S. producer prices rose 6% annually in April, the highest since Dec 2022, driven by the Iran war pushing energy costs up 22.7% yearly.
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Agnico Eagle Mines to Invest $14 Billion in Ontario Mines
Agnico Eagle Mines announces a $14 billion investment in its Ontario gold mines, one of the largest mining investments by a Canadian company, creating thousands of jobs.
Birkenstock Warns of Higher Costs from Tariffs, Middle East Conflict
Birkenstock warns of rising costs due to tariffs and Middle East tensions. The German sandal maker faces supply chain disruptions and increased expenses.
Aramco Q1 Profit Up 25% After Export Route Change
Saudi oil giant Aramco reports a 25% jump in first-quarter profit after shifting exports away from the Strait of Hormuz, boosting revenue and market stability.
Saudi Oil Output Hits Lowest Since 1990 Amid Iran War
Saudi Arabia's crude output fell to 6.316 million bpd in April, the lowest since 1990, as the Iran war disrupts Persian Gulf exports. OPEC total output dropped by 1.727 million bpd.
OPEC Cuts 2026 Oil Demand Growth Forecast
OPEC has revised down its 2026 global oil demand growth forecast, citing economic uncertainties. The update was released on May 13, 2026, from Vienna.
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Canada Post Bailout Total Reaches $2.72B Since 2025
Canada Post receives third financial bailout in 16 months, a $673M credit line, pushing total government aid to $2.72B since 2025, as the Crown corporation faces existential crisis.
Disney Adventure Cruise Cancelled After Guests Boarded
Disney's newest cruise ship, the Disney Adventure, cancelled its voyage after guests were onboard for 26 hours due to mechanical issues. Passengers received full refunds and future discounts.
Toronto Gas Prices to Hit Record $2.20/Litre by June
Energy analyst Dan McTeague predicts Toronto gas prices will exceed $2.20 per litre by late May or June, surpassing the 2022 record due to Persian Gulf supply disruptions.
Sudbury Tennis Centre Closed Until Late Summer for Repairs
The Sudbury Indoor Tennis Centre will stay closed until August or September due to ongoing repairs, affecting local players and programs.
Ontario Invests $10M in Englehart Wood Mill
The Ontario government is providing $10 million to Georgia-Pacific's $191 million upgrade of its Englehart wood processing mill, supporting forest biomass and local jobs.
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61% in B.C. Support Enbridge Pipeline Expansion
New Angus Reid data shows 61% of B.C. residents support the federal approval of Enbridge's Westcoast LNG pipeline expansion, with national support at 55%.
Keyera closes Plains deal despite regulator challenge
Keyera Corp. completed its acquisition of Plains Midstream Canada despite opposition from Canada's competition watchdog, marking a major consolidation in the energy sector.
Report Flags Flaring Issues, Emissions at LNG Canada
A new report highlights flaring equipment problems and emissions exceedances at LNG Canada, raising environmental concerns.
Australia Budget Warns of US$200 Oil Doomsday Scenario
Australia's budget scenario analysis shows oil at US$200 could trigger economic contraction, with inflation at 7.25% and rising unemployment.
Australia Budget Sees Oil at $200 in Iran War Scenario
Australia's budget scenario analysis warns oil could hit $200 a barrel if Iran war escalates, triggering economic contraction and 7.25% inflation.
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Europe Needs Canadian Energy: Ottawa Must Act Now on LNG
Europe signs long-term LNG deals for reliable supply. Canada must build export terminals to unlock billions in exports and reduce reliance on a single market.
Calbee Chip Bags Go Monochrome as Iran War Bites
Japanese snack maker Calbee switches to black-and-white packaging due to supply chain disruptions from the Middle East war, affecting ink and materials.
Global Helium Demand Hampered by Industry Hurdles
Canada holds vast helium reserves, but production is stymied by regulatory delays and infrastructure gaps, hindering global supply.
B.C. Forests Minister Targets Middle East Export Market
British Columbia's forests minister Ravi Parmar announced plans to expand lumber exports to the Middle East, aiming to diversify markets amid ongoing trade challenges.
Sask. Premier Defends Nuclear Transition Plan
Saskatchewan Premier Scott Moe defends the province's nuclear transition plan, emphasizing the need to utilize all available assets for a sustainable energy future.
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Construction Season Starts in North Bay with Wastewater Work
Construction season has begun in North Bay, starting at the wastewater treatment plant on Memorial Drive. The project aims to upgrade infrastructure and improve local water management.
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