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: 2026-03-08 to 2026-03-14

📋 In This Week's Newsletter

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

Federal Government News

Canada to Supply 23.6 Million Barrels in IEA Oil Stock Release

Canada will contribute 23.6 million barrels of crude oil to the International Energy Agency’s (IEA) coordinated release, following volatility in global energy markets linked to Strait of Hormuz disruptions. According to the Minister of Energy and Natural Resources, this action represents the largest-ever oil stock release in IEA history. Canada, as the IEA’s largest oil supplier, is working with provincial partners and industry to deliver support aimed at market stability. Expanded natural gas exports were announced, with additional Canadian fuel set to reach allied countries in the coming months. This joint action is seen as a measure to alleviate price impacts experienced by Canadian consumers.

Sources: www.canada.ca

Canada Responds to Global Energy Market Volatility

In a March 11 statement, the Minister of Energy and Natural Resources noted Canada’s role as a stable energy producer during heightened volatility caused by military conflict and the blockade of the Strait of Hormuz. Efforts to fast-track export infrastructure via the Major Projects Office and Canada–Alberta MOU were referenced. The government is working with industry to determine the pace and scale of Canadian supply increase and is collaborating in multilateral initiatives for global energy security. The statement referenced ongoing work to mitigate consumer price increases resulting from international supply disruptions.

Sources: www.canada.ca

Senate Debates Progress and Challenges of Canada's 2030 Emissions Plan

The Standing Senate Committee on Energy, the Environment and Natural Resources reviewed the 2025 progress report on Canada’s 2030 Emissions Reduction Plan. Environment and Climate Change Canada officials discussed industrial carbon pricing and clean electricity policy, noting measurable emissions reductions alongside economic growth. Senators raised concerns about meeting 2030 targets, the cost of policy implementation, and the structural complexity of climate governance between federal and provincial jurisdictions. Additional topics included methane regulation, financial sector involvement, coordination of carbon pricing, and infrastructure investment. The session included industry and academic witnesses, highlighting progress on EV uptake, clean energy projects, and the need for cohesive national approaches.

Sources: senparlvu.parl.gc.ca

Senate Sitting Reviews Industrial Carbon Tax and Bill C-69

During the March 9 Senate sitting, Senators questioned the government’s industrial carbon tax and the handling of Iran-related risks. The session featured debate over Bill C-69, with Senator Leo Housakos calling for repeal and raising concerns about the current regulatory climate for Canada’s energy industry. The Senate also began second readings of Bill C-14 (bail and sentencing reforms) and Bill C-15 (Budget Implementation Act, 2025), covering regulatory changes and fiscal matters. Discussions included implications for Indigenous and Black communities and parliamentary accountability.

Sources: senparlvu.parl.gc.ca

Minister Sidhu Meets Norway’s Trade Minister on Energy Security

Minister of International Trade Maninder Sidhu met with Norway’s Minister of Trade and Industry ahead of Prime Minister Carney’s diplomatic trip. The discussion covered expanding bilateral trade and investments in energy, critical minerals, and technology. Both ministers signaled intent to leverage the Canada-European Free Trade Association (EFTA) Free Trade Agreement to foster business collaboration, with energy infrastructure and economic security cited as areas for deepening ties.

Sources: www.canada.ca

Canadian Apprenticeship Strategy Targets Green Trades and $24.7M in Quebec Funding

The federal government is investing $24.7 million over five years into Quebec’s public apprenticeship system to deliver green training for 18 Red Seal trades. The amendment aligns activities with national programs and is projected to reach up to 3,750 apprentices and journeypersons across Quebec. The Union Training and Innovation Program’s Sustainable Jobs stream focuses on skills development to support emissions reduction in the trades workforce.

Sources: www.canada.ca

StatsCan Releases Infrastructure Economic Account for 2025

Statistics Canada published its Infrastructure Economic Account, detailing investment, asset age, and the remaining useful service life for 2025. Updated multipliers based on 2022 supply and use tables were integrated, affecting economic and environmental impact estimates through 2024. All figures align with the fourth quarter 2025 Income and Expenditure Accounts, offering updated data for industry forecasting.

Sources: www.statcan.gc.ca

Annual Survey of Environmental Goods and Services Data Released

Statistics Canada has released the 2024 Annual Survey of Environmental Goods and Services, providing industry-level data on environmental product and service output. The survey offers a fresh statistical foundation for sector trend analysis.

Sources: www.statcan.gc.ca

Provincial Government News

B.C. Proposes Expedited Environmental Assessment Process for Major Infrastructure

British Columbia’s Environmental Assessment Office is soliciting feedback on a draft expedited process to review major public infrastructure projects within 20 months, potentially cutting assessment timelines by 60% compared to the current standard. Projects must be designated under the Infrastructure Projects Act and demonstrate readiness for a faster review.

Sources: news.gov.bc.ca

What We're Reading This Week

• Ottawa eyeing moves to boost oil production amid global supply shock: Federal government reviews steps to increase oil output after supply disruptions.
• What to know about the challenges of reopening the Strait of Hormuz: Analysis of logistical hurdles and risks surrounding Strait of Hormuz reopening.
• Danielle Smith: There is no global energy security without Canadian energy: Danielle Smith outlines Canada's strategic importance for global energy supply.
• Carney to discuss energy security during three-day trip to Norway: Prime Minister Carney’s engagement with Norway focuses on energy security.
• Canada’s second chance in the global LNG race: Analysis on Canada’s ambitions for competitive participation in the LNG sector.
• Why Canada’s energy superpower status can’t fully protect us from the oil crisis: Review of limits to Canada’s ability to shield itself from international oil shocks.
• IEA Proposes Massive Release of Emergency Oil Stockpiles: IEA plan details largest coordinated oil stock release in history.
• What will the carbon price cost the oilsands? A Timbit per barrel, one analysis says: Review of cost estimates for oilsands operators under current carbon price structure.
• As the world acts to stabilize oil prices, Canada sees a potential windfall: Canada’s economic prospects amid strategic oil reserve releases.
• Oil & Iran War Context Weekly (W11): Weekly industry roundup covers volatility in oil markets tied to Middle East conflict.

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