April 26, 2026 to May 02, 2026

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

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📋 In This Week's Newsletter

• 🏛️ This Week's Parliamentary Calendar
• 🇨🇦 Federal Government News
• 🗺️ Provincial Government News
• 📚 What We're Reading This Week

This Week's Parliamentary Calendar

• House Public Accounts Committee to Review 2026 Spring Auditor General Reports: The House Public Accounts Committee will meet on May 4 to consider the 2026 Spring Reports of the Auditor General of Canada, with an open televised session at 11:00 a.m. featuring the Auditor General and senior officials.
• Senate Committee to Consider Bill S-4 Amending the Energy Efficiency Act: The Standing Senate Committee on Energy, the Environment and Natural Resources will conduct clause-by-clause review of Bill S-4, which amends the Energy Efficiency Act, in a session scheduled for May 5 at 6:30 p.m.
• Senate Security Committee Set to Examine Cyber Security Legislation: On May 4, the Standing Senate Committee on National Security, Defence and Veterans Affairs will discuss Bill C-8, addressing cyber security and related telecommunications amendments. Panels include officials from the Canada Energy Regulator and several industry representatives.

Federal Government News

Minister Hodgson to Address Canadian Association of Energy Contractors

Natural Resources Minister Tim Hodgson is scheduled to speak at the Canadian Association of Energy Contractors spring luncheon in Calgary on May 1, 2026. The event, announced by Natural Resources Canada, invites media participation and signals continued federal engagement with upstream service providers. Hodgson's engagement with energy industry stakeholders occurs amid volatile commodity markets and ongoing regulatory activity. The Minister's statements and discussions may provide further indications of federal priorities affecting drilling, field services, and supply chains. Accredited media have been directed to pre-register by April 29 to attend the session, suggesting a focus on outreach and industry-government communication. Details for virtual or in-person participation are managed through Natural Resources Canada.

Sources: www.canada.ca

Canadian Energy Output Rises in February 2026

Statistics Canada data for February 2026 indicate a 5.2% year-over-year increase in primary energy production. Gains in natural gas output (+9.0%) and crude oil and equivalent production (+5.8%) were the main drivers of this growth. Meanwhile, secondary energy production stabilized, with refined petroleum product gains offset by coke output trends. These figures suggest ongoing strength in primary extraction, amidst steady downstream sector volumes. The report does not provide plant-level breakdowns but points to continued demand and operational activity in gas and oil extraction segments. The full dataset is accessible through the StatsCan Daily platform.

Sources: www.statcan.gc.ca

Machinery and Equipment Price Index for February 2026 Now Available

Statistics Canada released the updated Machinery and Equipment Price Index for February 2026. While the dataset provides price trends indexed to 2016, specific figures for key categories affecting oil and gas supply chain costs can be derived from the newly published numbers. The index supports analysis of equipment cost changes facing Canadian oilfield operators, service providers, and midstream projects. Full details and raw figures are accessible through the StatsCan report.

Sources: www.statcan.gc.ca

Provincial GDPs Register Growth Across Most Jurisdictions in 2025

Statistics Canada reported that in 2025, real gross domestic product rose in every province and Yukon, with a slight increase in Nunavut and a decline recorded only in the Northwest Territories. While the summary does not break out oil and gas–driven GDP increases by province, the industry contributed meaningfully to the upward trend in energy-producing regions. The dataset provides context for regional investment and economic planning across hydrocarbon-producing provinces.

Sources: www.statcan.gc.ca

Provincial Government News

Nova Scotia Awards Offshore Oil and Gas Exploration Rights

The Nova Scotia government announced that Inceptio Oil and Gas won bids for two parcels offshore, representing over $210 million in investment for seismic surveys and exploration. Regulatory oversight for the process was conducted by the Canada-Nova Scotia Offshore Energy Regulator.

Sources: news.novascotia.ca

Alberta Welcomes Inclusion of Enhanced Oil Recovery in Federal Tax Credits

Following the federal spring Economic Update, Premier Danielle Smith highlighted the addition of Enhanced Oil Recovery as an eligible activity for Investment Tax Credits under the Canada–Alberta Energy Agreement, noting potential impacts on oil production and CCUS adoption.

Sources: www.alberta.ca

Alberta Invests $91 Million in Industrial Transformation Projects

The Alberta government, through Emissions Reduction Alberta and the TIER fund, allocated $91 million to support cost-saving industrial technologies in energy, utilities, and manufacturing, with application intake for 2026–27 grants open until June 17.

Sources: www.alberta.ca

British Columbia Announces $88 Billion in Planned Major Projects

B.C. officials estimate $88 billion in proposed project investments over the next three years, including LNG, renewable energy and mining, as part of the province's Look West strategy to diversify economic growth, accelerate permitting, and increase energy project activity.

Sources: news.gov.bc.ca

What We're Reading This Week

• N.L. government approves emissions hikes for Cenovus oil field project, Vale nickel mine: Newfoundland and Labrador approves higher emissions limits for key resource projects.
• Shell sees strong case for second phase of LNG Canada after conversations with governments: Shell signals potential expansion for LNG Canada citing government engagement.
• Environmental advocates call LNG tax incentive a fossil fuel subsidy: Advocacy groups criticize recent LNG tax incentives.
• Could OPEC lose its grip on oil?: Financial Post discusses shifting market power among global oil producers.
• How the conflict in Iran is reshaping how the world sources its oil: Rising instability prompts global shifts in oil sourcing.
• Prepare for surging prices, economists say, as one of the largest oil shocks in history hits home: Economists forecast price impacts from recent supply disruptions.

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