AGP Executive Report
Last update: 6 hours agoFederal Budget: Ottawa’s Nov. 5 budget is drawing scrutiny over billions in support for fossil fuel companies, even as the government promises to strengthen Canada’s economic footing. Oil and Gas Results: Suncor and Cenovus posted record-setting results amid strong refining margins. Cenovus reported a $3.36-billion third-quarter profit and production above one million barrels a day; Suncor also generated record cash. LNG Investment: Blackstone and four Canadian pension investors are putting US$3.1 billion into a 49.9% stake in Mitsubishi’s LNG Canada holding company, bolstering investor backing for the project. Pipeline Dispute: B.C. First Nations are challenging the federal fast-track approval of the Pacific Link oil pipeline, escalating a legal fight over consultation. China Ties: Canada and China extended tariff relief through 2028 and signalled interest in broader cooperation, including oil and gas and clean energy.
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