Earnings were boosted by the Russian invasion of Ukraine. The February invasion has driven the price and demand for global oil higher as the EU proposes blocking Russian oil imports.
EU Commission President Ursula von der Leyen announced this latest round of sanctions will include a complete import ban on all Russian oil.
Canada Pension Plan Investment Board disclosed it holds $1 million worth of shares in Adaro Energy, an Indonesian coal mine, as well as $1 million in stock at China Coal Energy Co.
“Essentially what we’re doing is subsidizing a vehicle that a wealthy person is going to buy.”
Environmental activists have denounced the Bay du Nord project as going against the federal climate goals.
Yves-François Blanchet also called for the Liberal government to cancel the Bay du Nord oil and gas project.
The Conservative leadership candidate said ‘government gatekeepers’ have prevented the port of Churchill, Manitoba from shipping oil to international markets