Doug Ford warns Donald Trump ‘could pull the carpet out from underneath us on CUSMA'
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Cision Canada
20 minutes ago
- Cision Canada
FRONTERA ANNOUNCES CHANGES TO CGX ENERGY BOARD
CALGARY, AB, Aug. 13, 2025 /CNW/ - Frontera Energy Corporation (TSX: FEC) (the " Company" or " Frontera") announces that two officers of the Company have joined the board of directors (the " CGX Board") of CGX Energy Inc. (" CGX") and that Gabriel de Alba, director and Co-chairman of CGX, has resigned from the CGX Board. As a result, the CGX Board includes three officers of the Company, namely, Orlando Cabrales (Chairman of the CGX Board), Alejandra Bonilla and René Burgos Díaz. Frontera intends to encourage CGX to continue to take steps to preserve its resources and protect its rights and assets for the benefit of all of its stakeholders. About Frontera: Frontera Energy Corporation is a Canadian public company involved in the exploration, development, production, transportation, storage and sale of oil and natural gas in South America, including strategic investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets which consists of interests in 22 exploration and production blocks in Colombia, Ecuador and Guyana, and in pipeline and port facilities in Colombia. Frontera's common shares are listed for trading in the Toronto Stock Exchange under the ticker symbol "FEC." The Company is committed to conducting business safely and in a socially and environmentally responsible manner. This news release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the newly imposed U.S. trade tariffs affecting over 50 countries and escalating tensions with China; the impact of the Russia-Ukraine conflict and conflict in the Middle East; actions of the Organization of Petroleum Exporting Countries (OPEC+); liabilities inherent with the exploration, development, exploitation and reclamation of oil and natural gas; uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; uncertainties associated with estimating oil and natural gas reserves; failure to establish estimated resources or reserves; volatility in market prices for oil and natural gas; fluctuation in currency exchange rates; inflation; changes in equity markets; perceptions of the Company's prospects and the prospects of the oil and gas industry in Colombia and other countries where the Company operates or has investments; uncertainties relating to the availability and costs of financing needed in the future; the Company's ability to complete strategic initiatives or transactions to enhance the value of its securities and the timing thereof; the Company's ability to access additional financing; the ability of the Company to maintain its credit ratings; the ability of the Company to meet its financial obligations and minimum commitments, fund capital expenditures and comply with covenants contained in the agreements that govern indebtedness; political developments in the countries where the Company operates; the uncertainties involved in interpreting drilling results and other geological data; timing on receipt of government approvals; the inability of the Company to reach an agreement with the Government of Guyana in respect of the Company and its joint venture partner's interests in, and the petroleum prospecting license for, the Corentyne block; and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's annual information form dated March 10, 2025 filed on SEDAR+ at Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Calgary Herald
2 hours ago
- Calgary Herald
Bank of Canada still unsure where interest rates should land
Article content Policymakers at the Bank of Canada continue to debate how monetary policy can best support the Canadian economy during a period of global trade uncertainty, according to deliberations released on Wednesday. Article content Some members of the governing council said there should not be any further rate relief, given the Canadian economy has shown more resilience and further easing could exacerbate pricing pressures. Article content Article content Article content 'Businesses and consumers were adapting, and growth in sectors of the economy less tied to U.S. trade actions could support the overall economy, albeit on a lower path of economic activity,' the summary said. 'Given the lagged effects of monetary policy, there was a risk that further easing might take effect only as demand was recovering, which could add to price pressures.' Article content Article content Others, however, said further rate relief is needed given the persistent slack in the Canadian economy and a risk that the labour market could deteriorate further. Article content 'If incoming data showed that the upside risks to underlying inflation were not materializing, there could be more room for monetary policy to ease further, reducing economic slack and supporting the economy's adjustment to the reconfiguration of global trade,' the summary said. Article content The deliberations were from Bank of Canada meetings that took place from July 22 until the July 30 rate decision, when the central bank opted to hold its policy rate at 2.75 per cent for the third straight time. Article content Article content Bank of Canada governor Tiff Macklem said the hold was due to three main reasons: ongoing trade uncertainty with the United States, a more resilient Canadian economy and evidence of underlying inflation pressures. Article content Article content First-quarter gross domestic product (GDP) growth came in better than expected at 2.2 per cent, mainly due to businesses pulling forward inventory to beat tariff announcements. The central bank expects negative growth in the second quarter, but early Statistics Canada estimates suggest the second quarter is on track to avoid a contraction. Article content The unemployment rate has been 6.9 per cent in June and July, with layoffs still contained, but there has been very little net employment growth since the beginning of this year. Article content Macklem left the door open for further rate relief if 'a weakening economy puts further downward pressure on inflation and the upward price pressures from trade disruptions are contained.'
Toronto Star
2 hours ago
- Toronto Star
Northland Power Reports Second Quarter 2025 Results
TORONTO, Aug. 13, 2025 (GLOBE NEWSWIRE) — Northland Power Inc. ('Northland' or the 'Company') (TSX: NPI) today reported financial results for the three and six months ended June 30, 2025. All dollar amounts set out herein are in thousands of Canadian dollars, unless otherwise stated. 'This quarter, Northland and our partners reached several major construction milestones, including the ahead-of-schedule and under-budget delivery of the Oneida energy storage project into commercial operations, first power at Hai Long, and the installation of Baltic Power's first wind turbine,' said Christine Healy, President and CEO of Northland. 'While our overall performance was impacted by below-average wind levels in Europe during the quarter, we continued to demonstrate strong operational performance with 95% commercial availability.'
