Oil Plunges on Easing Iran Risks and Commodities Selloff
Crude oil prices experienced a sharp decline as geopolitical tensions with Iran diminished and a broader commodities selloff intensified market pressures.
Category : Energy Sector
U.S. Natural Gas Prices Plunge 21.6% in Major Market Shift
U.S. natural gas futures plummeted over 21% as warmer weather forecasts reduced heating demand, putting March contracts on track for their largest daily percentage loss since 1996.
U.S. Plans Strategic Reserve for Rare Earth Elements
The Trump administration announces plans to create a national strategic reserve for rare earth elements, aiming to reduce dependence on foreign sources and secure critical supply chains for technology and defense.
Imperial Oil Shuts Norman Wells After Century of Production
Imperial Oil Ltd., an Exxon Mobil subsidiary, will close the historic Norman Wells oil production site in Canada's Northwest Territories after a century of operation, with production declining significantly from its peak.
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Darlington Nuclear Plant Refurbishment Finished Early
The Darlington nuclear power plant refurbishment in Ontario has been completed months early and $150 million under budget, extending its operational life until at least 2055.
OPEC+ Keeps Supply Pause as Oil Climbs on Iran Risk
OPEC+ reaffirms its three-month production freeze through March despite oil prices hitting four-month highs due to U.S.-Iran tensions. Key members led by Saudi Arabia and Russia leave future decisions for March meeting.
Trump's $12B Minerals Stockpile to Counter China
President Donald Trump is launching a $12 billion critical minerals stockpile called Project Vault to reduce U.S. reliance on Chinese rare earths and secure supply chains for manufacturers.
Devon and Coterra Merge in $58 Billion Shale Deal
U.S. energy giants Devon Energy and Coterra Energy have agreed to a monumental $58 billion merger, signaling a major consolidation within the North American shale oil and gas sector.
Darlington Nuclear Refurbishment Done Under Budget
Ontario Power Generation has successfully completed the refurbishment of the Darlington nuclear plant, finishing ahead of schedule and under the allocated budget, according to the provincial minister.
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B.C. Ghost Town Owner Pushes Energy Export Terminal Plan
Krishnan Suthanthiran, owner of the remote Kitsault, B.C., is renewing efforts to transform the former mining town into a major energy export hub, seeking government support.
SaskPower Rate Hikes Now in Effect: What It Means
SaskPower's approved electricity rate increases have officially begun, affecting residential and business customers across Saskatchewan with higher monthly bills.
Imperial Closing Norman Wells Oil Site After 100 Years
Imperial Oil Ltd. announces closure of the historic Norman Wells oil production site in Northwest Territories after a century of operation, marking end of an era in Canadian Arctic energy.
Gas Leak Causes Explosion in Iran's Bandar Abbas Port
An explosion caused by a gas leak has been reported in the Iranian port city of Bandar Abbas, a key location in the Strait of Hormuz, according to Iranian media sources.
LNG Canada Flaring 15 Times More Gas Than Expected
Documents reveal LNG Canada's Kitimat facility has been flaring up to 15 times more gas than anticipated, with officials aware of issues months before informing regulators.
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Propane Explosion Injures Three in RM of Taché
A dangerous explosion at a propane distribution facility in the RM of Taché has left three individuals injured, prompting a significant emergency response from local firefighters.
Moe: Saskatchewan in 'Race' to Make Canada Energy Superpower
Saskatchewan Premier Scott Moe highlights provincial unity and resource development potential following Ottawa's First Ministers Meeting, emphasizing regulatory advantages and major projects.
Milton Hydro's Digital Overhaul Boosts Efficiency
Milton Hydro has successfully transformed its manual scheduling processes into a modern digital platform, achieving measurable cost savings and improved operational efficiency for its 44,000 customers.
India Wants More Canadian Crude from West Coast
Energy Minister Tim Hodgson states India's desire for more Canadian crude oil exports via the West Coast, highlighting potential trade growth and energy cooperation between the two nations.
B.C. AI and Data Centres Must Compete for Power
British Columbia introduces a new competitive selection process requiring AI and data centre projects to vie for electricity access, as Energy Minister Adrian Dix announces policy at BC Hydro headquarters.
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Aduro Clean Technologies Closes Over-Allotment Option
Aduro Clean Technologies has successfully closed the underwriter's over-allotment option in its public offering, issuing additional shares and warrants for approximately US$3 million in gross proceeds.
NS Government Opposes NS Power Rate Hike Request
The Houston government in Nova Scotia has formally requested the provincial energy board to deny Nova Scotia Power's application for a rate increase, citing affordability concerns for residents.
Mercredi Joins Arctic Gateway Group Board
Former Assembly of First Nations Grand Chief Ovide Mercredi has been named to the board of the Arctic Gateway Group, adding his extensive Indigenous leadership experience to northern infrastructure development.
Carney Reopens Door to China Energy Cooperation
Prime Minister Mark Carney's recent Beijing visit has quietly ushered in a new era of Canada-China energy cooperation, with agreements extending beyond oil and gas to include clean energy and climate initiatives.
Federal Energy Funding Needed for Saskatoon's DEED Project
Ward 10 Coun. Zach Jeffries emphasizes that federal energy funding is crucial for Saskatoon's Downtown Event and Entertainment District, warning of property tax hikes without it.
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China Turns to Canada for Oil After Venezuela Sanctions
Shandong Chambroad Petrochemicals bids for Canadian Cold Lake crude as U.S. intervention disrupts Venezuelan oil flows, narrowing discounts and reshaping global energy markets.
Imperial Oil Raises Dividend as Q4 Profit Falls
Imperial Oil announces a quarterly dividend increase while reporting a decline in fourth-quarter profit compared to the previous year, reflecting ongoing market dynamics.
Chevron's Self-Funding Model for Venezuela Oil Growth
Chevron plans to boost Venezuelan oil production by 50% using revenue from sales rather than new capital, requiring U.S. Treasury approvals while navigating political risks.
Chevron Beats Q4 Profit Estimate, Eyes Venezuela
Chevron Corporation has reported a stronger-than-anticipated fourth-quarter profit, outperforming Wall Street estimates. The energy giant is also evaluating potential investment opportunities in Venezuela.
MAX Power Drills Second Natural Hydrogen Well in Saskatchewan
MAX Power Mining Corp. prepares to drill its second natural hydrogen well at the Bracken site in Saskatchewan, expanding exploration 325 km southwest of the Lawson discovery.
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Dow's $10B Alberta Petrochemical Project Advances to 2029
Dow Inc. confirms its $10-billion net-zero petrochemical project in Fort Saskatchewan will proceed with a revised timeline, targeting startup by late 2029 after a two-year delay.
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