AGP Executive Report
Last update: 8 hours agoOil Sands Deal: Strathcona Resources will buy Greenfire Resources in a C$2.7-billion to C$2.9-billion deal, expanding its Alberta oil sands footprint; the transaction is expected to close in early 2027, pending approvals. Grid Expansion: Ottawa’s budget commits $50 billion toward doubling Canada’s electricity grid by 2050, though questions remain about how new connections will be delivered. LNG Investment: CPP Investments, OMERS, IMCO, PSP Investments and Blackstone agreed to invest $3.1 billion for a 49.9% stake in a Mitsubishi subsidiary holding part of LNG Canada. Phase 2 could double Kitimat’s capacity to 28 million tonnes a year, but has no confirmed construction schedule. Oil Market: Brent fell more than 17% last week as Gulf exports recovered and markets anticipated an end to the Iran conflict, raising the prospect of a global crude glut despite continued shipping risks in the Strait of Hormuz.
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