Canada's offshore oil and gas regulator has laid three charges against a Cenovus Energy Inc. subsidiary stemming from a huge oil spill off the coast of Newfoundland in 2018.
Canadian oilsands and refining giant Suncor Energy Inc. is reporting a fourth-quarter net loss of $168 million or 11 cents per share, compared with a net loss of $2.34 billion or $1.52 in the same period of 2019.
The Canadian Association of Petroleum Producers is predicting the country's oil production will increase by 1.4 million barrels per day by 2035, despite an ongoing "competitiveness gap" that discourages investment.
Consumer demand for fuel is growing slightly after a sudden decline due to measures to deal with the COVID-19 pandemic but the CEO of Suncor Energy Inc. says he doesn't expect a full recovery for his company or the Canadian energy sector until at least 2022.