AGP Executive Report
Last update: 8 hours agoFederal Energy Plan: Budget 2026 proposes incentives to expand the electricity grid and funds clean-grid and efficiency measures within a $400-billion, six-year capital plan; Ottawa forecasts a $62.3-billion deficit. Offshore Oil: Shell led a surge in Newfoundland exploration, winning six licences and committing more than $210 million; it was involved in eight of 10 successful bids, the most since 2000. Pipelines and LNG: TC Energy raised its 2026 outlook and announced $3 billion in pipeline projects as it targets LNG and data-centre demand. Pembina’s third-quarter profit rose to $570 million. LNG Canada: Blackstone and Canadian pension funds agreed to invest $3.1 billion for a 49.9% stake in the project’s holding company, backing its expansion. Producer Results: Cenovus reported $3.36 billion in third-quarter profit but plans to close its Lloydminster ethanol plant next month; Suncor’s profit more than doubled to $3.8 billion. Consultation Disputes: First Nations are challenging the fast-tracked Pacific Link oil pipeline and criticizing plans to lift a fracking ban without consultation.
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