A Canadian company that has received a US$40-million grant from Bill Gates' climate solutions venture firm says its Alberta test site will be removing carbon directly from the atmosphere as early as this spring.

The company said it is aiming to add more than 100,000 barrels per day of oil and gas production between 2023 and 2026 and several other Canadian oilsands producers are making similar announcements for increased production by 2025.

Alberta's oil and gas producers spent $769 million cleaning up old wells in 2023, a $73 million increase from the prior year, according to a new report.

The CEO of Imperial Oil Ltd., one of the six oilsands majors behind the proposed $16.5-billion project, provided the update on his company's third-quarter earnings call Friday, stating the RFP was issued in the third quarter.

Natural gas producers in Western Canada have white-knuckled it through months of depressed prices, with the expectation that their fortunes will improve when LNG Canada comes online in the middle of next year.

Nearly six months after its opening, the Trans Mountain pipeline expansion is boosting Canada's energy sector as promised — but questions still linger about who will pay for the project's massive cost overruns.

As pressure grows on the oil and gas sector to reduce its emissions, one Calgary-based company is banking on the potential to convert waste gas from oil wells into valuable electricity for nearby communities.

But clean energy think tank the Pembina Institute said concerns about the new law shouldn't prevent Pathways from pulling the trigger on its proposed $16.5-billion carbon capture and storage project.

The proportion of Canadian business leaders who say they are worried about climate change jumped dramatically in 2024.

A newly released ranking of the Toronto Stock Exchange's top performers shows investors continue to be attracted to companies at the forefront of the energy transition.