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: 2026-03-01 to 2026-03-07

📋 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 Study Port Modernization: On March 9, the Transport, Infrastructure and Communities Committee will examine 'Supporting, Diversifying, and Modernizing Quebec and Canada’s Ports,' featuring witnesses from the Montreal, Saguenay, Trois-Rivières, and Windsor Port Authorities, as well as Vigie Citoyenne Port de Contrecoeur.
• Environment and Sustainable Development Committee Reviews Canada's 2030 Emissions Reduction Plan: On March 10, the Environment and Sustainable Development Committee will consider the effectiveness and potential improvements for Canada's 2030 Emissions Reduction Plan, including review of the draft report in a closed session.

Federal Government News

Bay du Nord Agreement Pushes Offshore Oil Development in Newfoundland and Labrador

Natural Resources Canada announced the signing of an agreement between the Government of Newfoundland and Labrador and Equinor to advance the Bay du Nord offshore oil project. This agreement positions Equinor closer to a final investment decision expected in 2027 for development of the field located approximately 500 kilometres east of St. John’s. Bay du Nord is considered one of Canada’s most significant offshore discoveries, and its development could unlock billions in investment and sustain thousands of jobs during construction and hundreds in operations. Federal support aims to de-risk the project amid global volatility, reinforcing Canada’s position as a stable energy supplier. Oil extracted from the region carries greenhouse gas extraction emissions 30 percent below the global average. The initiative is described as a major step for Canada’s energy agenda, sustaining nearly 20,000 jobs and contributing roughly 20 percent of Newfoundland and Labrador’s GDP, while representing 55 percent of its exports.

Sources: www.canada.ca

Ottawa Commits to Cover UN Fees for Bay du Nord Deepwater Oil Project

The federal government has agreed to cover United Nations fees for the Bay du Nord offshore oil project, as reported on March 4. Potential total fees could reach $1-billion, and Ottawa’s decision removes a significant financial barrier for the deepwater development. The move is intended to facilitate large-scale offshore oil operations in Newfoundland and Labrador, raising prospects for new investment and operational certainty within the sector.

Sources: www.theglobeandmail.com

Quarterly Capital Spending Rises in Oil and Gas Extraction Industries

Statistics Canada released fourth quarter 2025 figures showing capital expenditures in oil and gas extraction industries totaling $11.6 billion, marking a 7.2% increase over the third quarter. The data reflects continued investment momentum in Canadian oil and gas, with upstream activity contributing to national economic performance.

Sources: www.statcan.gc.ca

December 2025 Energy Statistics: Primary Production Stable, Secondary Production Up

StatCan reported that primary energy production reached 2.2 million terajoules in December 2025, essentially unchanged year-over-year. Secondary energy production rose by 3.1%, driven by a 16.5% increase in secondary electricity generation, an indicator relevant to future energy transition debates and integration.

Sources: www.statcan.gc.ca

Funding Announced for Mining Community Security and Sector Governance Initiatives Abroad

At the Prospectors & Developers Association of Canada convention, Secretary of State Randeep Sarai announced $8.1 million in funding for projects targeting stability and resilience in mining communities across the Democratic Republic of Congo, Côte d’Ivoire, and Burkina Faso. The projects focus on promoting stability, compliance, regulation in artisanal mining, and inclusive management of mining funds. The funding signals ongoing Canadian engagement in the governance and economic development of mining sectors internationally, potentially affecting cross-sectoral supply chain sourcing.

Sources: www.canada.ca

Provincial Government News

Alberta Launches Incentive Program for Critical Minerals Sector

The Government of Alberta is preparing a new incentive program to attract investment in its critical minerals sector, targeting lithium and other resources for mineral processing, with the initiative set for launch in 2027.

Sources: www.alberta.ca

Alberta Invests $46 Million in Technologies for Tailings Pond Reclamation

Alberta announced $46 million through the TIER fund to support nine projects targeting reduction and reclamation of oilsands mine water and tailings ponds, partnering industry and academic stakeholders.

Sources: www.alberta.ca

Major Oil and Gas Equipment Moves Impact Edmonton Region Travel

Two super-heavy loads—a secondary dryer and a demethanizer for oil and gas processing—are moving from Edmonton and Tofield to Fort Saskatchewan, causing travel delays and requiring specialized logistics.

Sources: www.alberta.ca

Cooperation Agreement-in-Principle Streamlines Alberta Project Approvals

An agreement-in-principle between Alberta and Canada seeks to restore provincial jurisdiction over project approvals, reduce regulatory duplication, and coordinate environmental assessments for major projects.

Sources: www.alberta.ca

What We're Reading This Week

• Enbridge Gas president on sustainability, reliability — and why your gas bill has gone up: Enbridge’s leadership discusses the drivers behind rising consumer gas bills.
• How the Middle East conflict is reshaping gas and LNG markets: Industry analysis details the evolving impact of regional instability on global gas and LNG trade.
• Business Brief: How oil makes and moves the world: A report on the central role of oil in international commerce.
• Legal finance strategies for navigating uptick in resource disputes: Firms consider legal approaches to emerging resource sector disputes.
• How the closing of the Strait of Hormuz is affecting global oil markets: Coverage of oil market volatility following developments in the Persian Gulf.
• Oil prices spike after Qatari minister warns Gulf output will be shut down ‘within days’: The potential for Gulf production shutdowns prompts oil price increases.
• Legal fight over propane terminal clouds Canada's energy export push: Litigation at a key export terminal attracts sectoral attention.
• Opinion: India has an oil problem. The Iran war makes it worse. Canada is the solution: Commentary examines India’s oil supply disruptions and Canada’s potential role.
• Opinion: War in the Middle East makes the case for more Canadian energy: Analysis argues that geopolitical risks strengthen demand for Canadian energy.

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