Good morning! This is Queen Street Analytics' weekly roundup of regulatory developments, legislative discussions, political announcements and other government-related news concerning oil and gas production, wells, drilling, petroleum and fuels refining, pipelines, LNG, hydrocarbons, and all Landman fans. Every Monday, we break down the most important updates in this space in under five minutes.

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Start Date: 2025-04-27
End Date: 2025-05-03

Top Headlines

Main Stories

Primary Energy Production Inches Higher in February 2025

Statistics Canada reported that primary energy production posted a 0.1% increase year-over-year in February 2025, with growth recorded in three out of six sectors. Secondary energy production also moved higher, rising 2.9% for the month. These figures track output in oil, natural gas, and related sectors. The incremental increase may inform ongoing assessments of production capacity and market supply levels for the oil and gas industry.

Sources: Open Government Data Set: www.statcan.gc.ca

Machinery and Equipment Price Index Available for February

The Machinery and Equipment Price Index (2016=100) for February has been released by Statistics Canada. Stakeholders can reference this dataset for updated information on capital costs, which may factor into operational planning and budgeting for exploration, production, and midstream projects. The index is available through the federal government’s data portal.

Sources: Open Government Data Set: www.statcan.gc.ca

Provincial Announcements

Alberta Refers Clean Electricity Regulations to Court of Appeal

Alberta's government has referred the constitutionality of the federal Clean Electricity Regulations to the Alberta Court of Appeal, raising questions about jurisdiction and regulatory authority over power generation.

Sources: Provincial Announcement: www.alberta.ca

Saskatchewan Records Growth in Oil and Gas Extraction Sector

Saskatchewan’s 2024 GDP rose 3.4%, with mining, quarrying, and oil and gas extraction up 5.6% year-over-year, as reported by Statistics Canada.

Sources: Provincial Announcement: www.saskatchewan.ca

Annual Climate Report Released by British Columbia

British Columbia issued its annual Climate Change Accountability Report, noting stable emissions since 2007 and plans to further invest in renewable energy and transmission infrastructure.

Sources: Provincial Announcement: news.gov.bc.ca

Saskatchewan Extends Oil Infrastructure Investment Program

The Saskatchewan government will extend the Oil Infrastructure Investment Program (OIIP) through March 2029, continuing a 20% royalty tax credit for qualifying oil and CO2 pipeline projects and supporting pipeline capacity expansion.

Sources: Provincial Announcement: www.saskatchewan.ca

Williston Basin Petroleum Conference Returns to Regina

The Williston Basin Petroleum Conference was held in Regina from April 28 to 30, featuring discussions with provincial officials and industry leaders on production goals and technology development in oil and gas.

Sources: Provincial Announcement: www.saskatchewan.ca

Alberta Challenges Net-Zero Electricity Regulations

Alberta announced it is referring the constitutionality of federal net-zero electricity regulations to the Court of Appeal, citing concerns over grid reliability and cost impacts.

Sources: Provincial Announcement: www.alberta.ca

Continued Growth in Sask DLC Oil & Gas Student Training

Saskatchewan Distance Learning Centre reports increased student enrolment in oil and gas and related technical courses, supporting future workforce development.

Sources: Provincial Announcement: www.saskatchewan.ca

Public Officials' Social Media

Senator David Wells Advocates for NL-First Approach to Petroleum Sector

On April 28, Senator David Wells used his Twitter account to urge support for the Conservative Party of Canada, referencing the party’s commitment to speeding approvals and opposing the federal emissions production cap for Newfoundland and Labrador’s petroleum sector.

Sources: Social Media: x.com

What We're Reading This Week

Market Data: Crude Oil WTI and Brent, Natural Gas Updates

Recent market press releases provided updated spot and futures pricing for Crude Oil WTI (NYMEX: CLK26), Crude Oil Brent (SCM26), and Natural Gas Micro (CNK26). These updates offer a snapshot of ongoing price movements and volatility that may influence trading activity and revenue projections for Canadian producers. The Globe and Mail and other outlets published these pricing details over April 29 and May 2.

Sources: Canadian News Outlet: www.theglobeandmail.com, Canadian News Outlet: www.theglobeandmail.com, Canadian News Outlet: www.theglobeandmail.com, Canadian News Outlet: www.theglobeandmail.com

Canada’s Energy Players Increase Focus on Gas Operations

A report from April 30 outlines how Canadian oil and gas companies are accelerating investment in gas production and infrastructure amid ongoing volatility in oil prices. Companies are reportedly shifting capital allocation to gas projects as part of a broader industry response to market dynamics. The trend is documented in coverage of corporate strategies and investment flows.

Sources: Canadian News Outlet: www.theglobeandmail.com

Petro-Victory Energy Expands Onshore Position in Brazil

Petro-Victory Energy and BlueOak Investments finalized the acquisition of Capixaba Energia, broadening their onshore oil and gas footprint in Brazil. The transaction has implications for Canadian E&P companies operating internationally and signals continued outbound deal activity from the Canadian sector.

Sources: Canadian News Outlet: www.theglobeandmail.com

Canadian Oil and Gas Industry Signals Willingness to Engage with Carney

Industry representatives have indicated readiness to collaborate with Mark Carney on his stated ambition to position Canada as an energy superpower.

Sources: Canadian News Outlet: www.ctvnews.ca

Canada’s Energy Players Respond to Oil Price Rout by Boosting Gas Activities

Canadian oil and gas firms are reallocating resources to gas business lines as oil price volatility persists, according to industry press releases.

Sources: Canadian News Outlet: www.theglobeandmail.com