Suncor is selling offshore assets in Atlantic Canada as it focuses on its oilsands holdings, while Cenovus is buying a smaller peer to grow its own footprint in northern Alberta.

Athabasca Oil has 40,000 barrels per day of oilsands production currently, but Cenovus Energy sees the opportunity to ratchet that up to 115,000 by 2032.

Ottawa has committed to extending investment tax credits for various carbon capture equipment to 2035. Alberta says it will finalize its own incentive program for carbon capture.

Wet weather and a power outage at Cenovus oilsands operations have helped push American oil reserves to their lowest level since 2020.

In a statement of claim, Mikisew Cree First Nation alleges both governments have failed to protect its members from health issues it says were brought on by industrial activity.

'The result of this myopic dialogue... is that we have created a set of national policies and regulations that make resource development and investment in Canada uncompetitive.'

'Given the historically long lead times for greenfield pipeline projects, we believe it is prudent to begin that planning and permitting process now.'

The analysis by the Canadian Climate Institute says oilsands producers will pay an average of about 50 cents per oil barrel, if the minimum carbon price rises to $130 per tonne.

Suncor said it delivered record production during the fourth quarter of 2025 despite mucky conditions that caused problems for at least one of its nearby Alberta oilsands peers.

One of Canada's biggest oil producers said Wednesday that it took a hit to its bottom line due to spring wildfires in northern Alberta.