It may have been simply a matter of time before the Age of Economic Globalization came to an end, with the emergence of an increasingly assertive authoritarian bloc led by China and Russia, but Russia’s invasion of Ukraine appears to have ended it with a thud.

International Petroleum Corporation says it is still looking for M&A opportunities in Canada and internationally, although it may be more difficult to conclude a deal these days because of seller expectation versus buyer expectation on price.

For Canadian producers, the “signals” they would probably need to see to support future growth include, in part, clarity as to where commodity prices will be longer-term, even if that does not necessarily equate to $100-per-bbl oil, says Al Monaco, president and chief executive officer for Enbridge Inc.

With high prices driving record free cash flow, Advantage Energy Ltd. will focus on growing liquids production while paying down debt and buying back shares for the remainder of 2022, company president and chief executive officer Mike Belenkie told shareholders at Advantage’s annual meeting on Thursday.

Whitecap Resources Inc. says 2022 operations have been impacted by cost inflation, labour shortages and supply constraints from service providers, and the company’s management expects these pressures will continue to rise through the balance of the year.

Canada has pledged to reduce methane emissions from the oil and gas sector by 75 per cent in its new reduction emissions plan. The federal government said it will work with industry and partners to meet the target. 

Ovintiv Inc. has raised its full year capital investment guidance to approximately $1.7–$1.8 billion from $1.5 billion.

Paramount Resources Ltd. says it has significant opportunities within its near-term identified development project inventory that could take the company to nearly 150,000 boe/d.

Energy companies have an opportunity to utilize their data better to reduce costs and improve productivity by adopting a “manufacturing” approach to managing its data.

Capstone Infrastructure Corporation’s wholly owned subsidiary, Wild Rose 2 Wind LP, has entered into a power purchase agreement (PPA) with Pembina Pipeline Corporation for the offtake of 105 MW of renewable energy and associated renewable attributes over 15-years from Capstone’s 192 MW Wild Rose 2 Wind Farm, currently in development. 

Parkland Corporation has announced an expansion to produce low-carbon fuel at its Burnaby refinery, said the B.C. government.

AKITA Drilling Ltd. reported improved year-over-year results in the first quarter of 2022 compared to the same quarter of 2021, however moderate day rate increases did not keep pace with increasing costs and therefore results did not improve as significantly as activity levels did.

Don Gray, the chairman of the board of directors of Petrus Resources Ltd., announced that on April 29, 2022 he acquired ownership of, or control and direction over, 4.1 million common shares of Petrus, pursuant to the company’s recently completed rights offering at a purchase price of $1.35 per common share for total consideration of $5.54 million.