Finance & Capital Management

The Canadian government is moving ahead with new rules it says will speed up approvals for exploratory oil and gas drilling off the east coast of Newfoundland, but conservation groups are warning the changes undermine environmental protections.Natural Resources Minister Seamus O'Regan issued a statement last week saying the new regulation will improve the efficiency of assessments while upholding the “highest standards'' of environmental protection.“Our government recognizes that Newfoundland and Labrador's ability to rebound from the COVID-19 pandemic will depend largely on a strong, resilient and innovative offshore,'' O'Regan said.Three environmental groups have launched a federal court challenge, arguing exploratory drilling off Newfoundland will now be green-lit without proper environmental assessments.The Ecology Action Centre, Sierra Club Canada Foundation and World Wildlife Fund Canada argued earlier this month that the science behind the new “regional assessment'' or RA process is flawed.Lawyer James Gunvaldsen-Klaassen, whose firm Ecojustice is representing the groups, argued that the regulation “flies in the face'' of the purpose of environmental scrutiny under the new Impact Assessment Act.The court later decided the case can proceed to a judicial review, but denied the group's request for an injunction.“The federal government stated that it intended to use the flawed RA and a loophole in the ...

New forecasts show dramatically lower expectations for 2020 capital spending in the oil and gas sector both nationally and in Alberta, the province that produces 65% of the country's natural gas and 82% of its oil.

Suncor has teamed with Japanese partners to fund an innovative new project called LanzaJet that will develop sustainable aviation fuel (SAF) and other products.

Some businesses reopening with pandemic protocols in place have said they won't accept cash for the time being, potentially accelerating what the Bank of Canada describes as a decade-long shift away from the banknote.

These are challenging times and to a large extent, previous models and economic expectations will have to be revised as our society muscles through this public health crisis.

Newfoundland and Labrador's government is looking for a rapid answer from Ottawa on its request for aid for the offshore oil sector in light of a quickening exodus of exploration rigs from the province.

For Dean Funke, getting hired at Regina's Co-op oil refinery felt like winning the lottery.

The University of Western Ontario’s Human Environments Analysis Lab (HEAL) has launched a study of employees and owners/managers in the grocery and foodservice sectors to determine COVID-19’s impact on their industry.

British Columbia's lowest paid workers got a pay increase Monday with a scheduled minimum wage hike at a crucial time for small businesses as they look for ways to continue operating during the COVID-19 pandemic.

Move enhances company’s market edge Irving Oil has announced the completion of its acquisition of North Atlantic Refining Corp.