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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Dates: 2026-02-15 to 2026-02-21

📋 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

• Transport, Infrastructure and Communities Committee to Examine Port Modernization: On February 23, the House Transport Committee will discuss supporting, diversifying, and modernizing Quebec and Canada’s ports with testimony from the Hamilton-Oshawa, Nanaimo, and Quebec Port Authorities, followed by appearances from Minister Steven MacKinnon and departmental officials.
• Finance Committee Set for Clause-by-Clause Review of Bill C-15: The Finance Committee will undertake clause-by-clause review of Bill C-15 on February 23, with appearances from officials across Finance, Natural Resources, Environment, Public Works, and other departments. Webcast runs 11:00 a.m. to 11:00 p.m.
• Industry and Technology Committee Reviews Productivity Gaps and Capital Outflow: Meeting scheduled February 23 features report consideration on Canada’s productivity gaps and capital outflow, with discussion on defence industrial strategy. Location is Room 425, Wellington Building, 3:30–5:30 p.m.
• Environment and Sustainable Development Committee Assesses 2030 Emissions Reduction Plan: February 24 marks a meeting on the effectiveness and improvements possible for Canada’s 2030 Emissions Reduction Plan; session will focus on draft report consideration and future business planning, 3:30–5:30 p.m. in Room 420, Wellington Building.
• Senate Banking Committee Considers Amendments to Fuels Inspection and Weights/Measures Legislation: On February 25, the Standing Senate Committee on Banking, Commerce and the Economy meets on Bill S-3, impacting electricity and gas inspection acts and regulations. Key witnesses include Lisa Stilborn and Devin O’Grady from the Canadian Fuels Association.

Federal Government News

StatsCan Publishes December 2025 Petroleum Transportation Data

Statistics Canada has released December 2025 figures for the transportation and storage of crude oil and other liquid petroleum products. Industry and government stakeholders now have access to detailed, month-end data sets covering volumes, flows, and storage activity across Canada’s energy infrastructure. The dataset forms part of ongoing federal tracking under the Energy Transportation and Storage Survey, providing a baseline for monitoring sector operations. Availability of these figures may inform tracking of regulatory compliance and adjustment of logistics alongside seasonal demand variations. The full dataset is accessible via StatsCan’s Daily portal.

Sources: www.statcan.gc.ca

Industrial Product and Raw Materials Price Indexes Rise Sharply in January

StatsCan’s latest index shows a significant uptick in product and raw materials prices for January 2026. The Industrial Product Price Index rose 2.7% month over month and 5.4% year over year, with the Raw Materials Price Index jumping 7.7% month over month and rising 8.0% from January 2025. Upstream oil and gas producers, as well as downstream refiners, may experience cost adjustments following these trends. Manufacturers and distributors engaged in hydrocarbons, petrochemical processing, and oilfield services can reference the full statistical detail at StatsCan.

Sources: www.statcan.gc.ca

Federal Consultation Continues on Draft Legislative Proposals for Oil & Gas Tax Measures

The Department of Finance is maintaining an active consultation, open through February 27, on draft legislative proposals for tax measures relating to clean hydrogen investment tax credits, carbon capture and storage (CCUS) investment credits, eligible Canadian Exploration Expense activities, and tax deferral mechanisms. Technical amendments specific to methane pyrolysis and CCUS are included. Interested parties are invited to review the draft legislation and provide comment. The proposals follow announcements from Budget 2025 and earlier, forming the basis for upcoming fiscal and tax reforms in energy and resource sectors.

Sources: www.canada.ca

StatsCan Releases December 2025 Mineral Production Data

The Monthly Mineral Production Survey and concurrent survey of smelters and metal refineries for December 2025 are now accessible. Industry operators and analysts can examine quantities and values for a broad array of extracted minerals, most relevant to upstream supply chains and refining operations. The December data reflects ongoing production trends and may feed into resource allocation and supply planning.

Sources: www.statcan.gc.ca

International Trade in Environmental and Clean Technology Products Edges Down in 2024

Canada exported $20.2 billion in environmental and clean technology products in 2024, a 5.2% decrease year over year. Imports totaled $35.8 billion, up 2.8% from the previous year. The data, covering both origin and destination flows, marks a slight decline in export performance while import activity rose. The full trade dataset is open for review via StatsCan and could affect future sector outlooks regarding clean fuel, carbon capture tech, and energy transition equipment.

Sources: www.statcan.gc.ca

Provincial Government News

Alberta Launches Record Restoration of Caribou Habitat with Industry MOUs

Alberta's government, partnering with Syncrude Canada and TC Energy, signed MOUs contributing nearly $12 million to restoring legacy seismic lines across caribou ranges. Since 2019, over 6,100 km have been treated through the Caribou Habitat Recovery Program.

Sources: www.alberta.ca

Québec and California Conduct 46th Joint Carbon Market Auction

Québec, in coordination with California Air Resources Board, held a joint auction offering 54,975,757 emission units at a minimum price of 38.15 CAD; auction results and final prices to be published February 25.

Sources: www.quebec.ca

Nova Scotia Approves Fast-Acting Electricity Generation Facilities

Nova Scotia's IESO received environmental assessment approval for two new gas-fired generators in Pictou County, designed to respond rapidly to peak demand. Natural gas will be the primary fuel, with alternative cleaner fuels to be integrated as available.

Sources: news.novascotia.ca

What We're Reading This Week

• Ottawa and N.S. to assess impacts of offshore oil and gas: Federal and Nova Scotia governments initiate comprehensive assessment on offshore operations.
• 'Big challenges' remain as oilsands majors, Ottawa and Alberta step up talks ahead of April 1 deadline: Negotiations intensify between oilsands executives and federal/provincial officials regarding upcoming deadline.
• Canada's oilsands poised for mega merger after busy 2025: Oil sands sector anticipated to undergo major consolidation in the wake of recent activity.
• EXP secures $8.3 million contract to advance Electra’s North American Critical Minerals Strategy at Ontario refinery project: Funding allocated to support critical minerals processing at Ontario facility.
• B.C. forecasts upswing for natural gas and tough times in forestry as deficit soars: Budget projections for British Columbia anticipate increased natural gas revenue.
• In defence of hewers of wood and drawers of water: Editorial on Canada's natural resource economy fundamentals.
• Building prosperity and responding to emerging needs: Coverage of evolving economic and infrastructure requirements in Canadian resource industries.

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