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Mergers & Acquisitions

  • New rules to speed up approvals for exploratory drilling off Newfoundland

    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 ...
  • Suncor takes flight with AvGas venture

    Suncor has teamed with Japanese partners to fund an innovative new project called LanzaJet that will develop sustainable aviation fuel (SAF) and other products.
  • N.L. warns of exodus of oil and gas industry without more federal help

    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.
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  • Irving buys Come By Chance refinery

    Move enhances company’s market edge Irving Oil has announced the completion of its acquisition of North Atlantic Refining Corp.
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  • 'Immense amount of pain' predicted for Canadian oilfield services sector

    Canada's oilfield services sector is in for “an immense amount of pain'' over at least the next year thanks to low North American oil and gas exploration activity amid a worldwide glut of cheap crude, according to a report from CIBC.Drilling and well completion companies stand to suffer the most as producers will be reluctant to reverse cuts in spending and production linked to the COVID-19 pandemic and its affect on fuel demand, the analysts warn.“There is no way to sugarcoat it.
  • 7-Eleven partners with CP ALL to open franchise stores in Cambodia

    7‑Eleven  has signed a master franchise agreement with CP ALL to develop and operate 7‑Eleven stores in Cambodia.
  • Parkland Fuel sees $79 million loss in first quarter on higher revenues

    The Calgary-based company says that equalled a loss of 53 cents per diluted share, compared with a profit of 52 cents per share or $77 million a year earlier.
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