Latest news with #CNRL
CBC
12-08-2025
- General
- CBC
Appeal launched by CNRL in tailings pond bird deaths rejected by Alberta regulator
Social Sharing Canadian Natural Resources Ltd. has lost its appeal against a $278,000 fine it faced for the death of hundreds of birds at a northern Alberta mine. Alberta Energy Regulator confirmed its administrative penalty against the Calgary-based oilsands operator for failing to destroy an island that formed inside one of its tailings ponds, in a decision issued last week. The penalty stems from a 2022 incident at CNRL's Horizon mine, about 60 kilometres north of Fort McMurray, Alta., when hundreds of gulls were coated with bitumen and died. The regulator dismissed the company's claims that the fine should be reduced and reaffirmed that the major oilsands operator had failed in its regulatory duty to protect birds from the bitumen-contaminated waters. The incident is among a string of high-profile bird deaths in the vast expanse of tailings ponds within Alberta's oilsands, incidents that have prompted rigid regulatory measures aimed at protecting bird species from their toxic waters. The incident happened in spring of 2022 when workers discovered birds on the island in an area known as Tar River Valley on the north side of the Horizon mine. The island had taken shape the previous spring, at the centre of a tailings pond, and re-emerged the following year. Despite hazing attempts by CNRL staff, the small stretch of land soon became a nesting site for colonies of birds. By May 21, 2022, CNRL workers counted a single Canada goose nest and 271 California gull nests along its beaches. The emergence of the island and the presence of nests were reported to the regulator in June, but the regulator was told that there was no immediate threat to the birds. Within weeks, the regulator was informed of the first deaths. On July 12, the company discovered about 60 to 70 oiled California gull chicks on site. By the end of summer, more than 400 California gulls died from exposure to the contaminated water. The situation continued until Aug. 4, when the surviving chicks, which had hatched in the tailings pond, were old enough to fly away. The island was destroyed that September. A contested timeline CNRL was convicted last year of a single count under the Environmental Protection and Enhancement Act. The contravention against CNRL had been deemed "major" due to the length of time the company left wildlife exposed to the danger and the company's lack of due diligence in responding to the problems. The operator launched an appeal in February, a legal claim that contested the timeline of the contravention. The Calgary-based operator took responsibility for the bird deaths but took issue with how the penalty had been calculated. CNRL argued the fine should be reduced to $46,750. The company's argument was based on a narrow interpretation of Section 155 of the Environmental Protection and Enhancement Act. Lawyers for the company contended that a violation only occurred on the 13 days when birds were actually found oiled, not the 76 days from when the nests were first discovered. CNRL also argued that portions of the penalty were beyond the two-year statue of limitations for such charges. The AER hearing panel rejected the company's appeal, writing that it was "not convinced" by the company's legal arguments. AER said the contravention was a continuous one. The panel found that Section 155 is intended to be interpreted broadly, meaning the contravention began when CNRL failed to ensure the hazardous substance would not come into contact with wildlife, not just when the contact occurred. The panel also ruled that the penalty was issued within the two-year limitation period, as the contravention continued until the last day the birds were present. Ultimately, the panel concluded that the penalty was appropriate and dismissed the appeal. The regulator noted that the fine had already been reduced in earlier conversations with company officials, based on efforts CNRL had made to mitigate similar incidents in the future. "We are not persuaded that the circumstances of this contravention, including response actions taken by Canadian Natural, merit further reductions to the penalty," the decision reads. "We believe that the re-emergence of the island in 2022 and Canadian Natural's failure to remove it before birds nested on it in May 2022 were the key elements of this contravention, as indicated in the notice of administrative penalty, and that this stands against any further reduction of the penalty. "The penalty is appropriate and should not be changed."
Yahoo
29-06-2025
- Business
- Yahoo
2 Top TSX Dividend Stars That Still Look Cheap
Written by Andrew Walker at The Motley Fool Canada The TSX is near its record high, but investors can still find deals for a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) focused on income and long-term total returns. Canadian Natural Resources (TSX:CNQ) is a giant in the Canadian energy sector with a current market capitalization near $96 billion. The stock picked up a good tailwind in recent weeks adding $8 per share to the current price near $44, but it is still off the $52 it hit in October. Oil prices have bounced on geopolitical risks in the Middle East. Traders are starting to position for a potential expansion of the hostilities between Iran and Israel to include the wider region now that the U.S. is officially involved. Analysts say oil could spike above US$120 per barrel if Iran decides to shut down the Strait of Hormuz, a narrow channel between Iran and Oman where at least 20% of oil production passes on route to international customers. Fundamentals, however, suggest oil prices face headwinds in the coming months. Rising production from non-OPEC countries, including the U.S. and Canada, along with some quota cheaters in the cartel, are keeping the market in a surplus position. Analysts broadly expect the market to remain oversupplied into 2026, assuming there isn't a major supply disruption in the Middle East. CNRL continues to generate solid profits through the volatility. The company has both oil and natural gas assets to diversify the revenue stream. Management is good at making strategic acquisitions at opportune times, and the overall business is very efficient with a West Texas Intermediate (WTI) breakeven price of roughly US$40 to US$45 per barrel. WTI is currently US$74 per barrel. The board increased the dividend in each of the past 25 years. Investors who buy CNQ stock at the current level can get a dividend yield of 5.3%. Canadian National Railway (TSX:CNR) trades near $140 at the time of writing, compared to $180 at one point last year. This is a meaningful pullback for CN and gives investors who missed the big rally off the pandemic crash another chance to buy CNR stock at a discount. CN is strategically important for the smooth operation of the Canadian and U.S. economies. The company operates roughly 20,000 route miles of tracks that run from the Atlantic to the Pacific in Canada and down to the Gulf Coast in the United States. CN moves cars, coal, crude oil, grain, fertilizer, forestry products, and finished goods. Revenue is generated in both Canadian and U.S. dollars, so the stock is a good option for investors who want exposure to the American economy through a top Canadian stock. CN had a rough 2024. Labour disputes at both the company and key ports disrupted operations. This forced customers to seek out alternative options to move goods. Efficiency took a hit, driving up costs. Wildfires in Alberta also delayed shipments last summer. In the end, CN squeaked out a small increase in revenue compared to 2023, but profits dipped due to the higher expenses. In 2025, management is more upbeat, even amid all the trade uncertainty. In the first-quarter (Q1) 2025 earnings report, CN said it expects to deliver 10% to 15% growth in adjusted diluted earnings per share (EPS) compared to last year. The board increased the dividend by 5% for 2025. This is the 29th consecutive annual hike to the distribution. CN is also buying back up to 20 million common shares under the current share-repurchase program. As soon as the United States sorts out new trade agreements with Canada, China, and other major trading partners, CNR stock should see new interest from bargain hunters. CNRL and CN pay good dividends that should continue to grow. If you have some cash to put to work, these stocks should be attractive at current levels and deserve to be on your radar for a buy-and-hold portfolio. The post 2 Top TSX Dividend Stars That Still Look Cheap appeared first on The Motley Fool Canada. Before you buy stock in Canadian Natural Resources, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Canadian Natural Resources wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $24,927.94!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 30 percentage points since 2013*. See the Top Stocks * Returns as of 6/23/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube The Motley Fool recommends Canadian National Railway and Canadian Natural Resources. The Motley Fool has a disclosure policy. Fool contributor Andrew Walker has no position in any stock mentioned. 2025
Hamilton Spectator
21-06-2025
- Business
- Hamilton Spectator
Industry-led Indigenous school attendance program celebrates quarter-century, looks for new partners
FORT ST. JOHN, B.C. — Industry leaders backing a program to assist more First Nations children in finishing school are celebrating a milestone as another year draws to a close. The northeast B.C. Stay in School program (SIS) is celebrating 25 years helping First Nations children from all Treaty 8 communities finish their education from kindergarten through to grade 12. If students enrolled at reserve schools attend at least 90 per cent of the school year, they can receive incentives and awards. Each student also receives a certificate at the year's end. Initially beginning with Burlington Resources (which became Poco Energy Solutions), the SIS program expanded to include other partners throughout its history, including Anadarko, Canadian Natural Resources Limited (CNRL), Petro-Canada ConocoPhillips and Talisman Energy. With various mergers and acquisitions occurring within the oil and gas industry, the program has just two partners still spearheading the initiative: CNRL and ConocoPhillips, with representatives from both companies looking to see it grow further. Marlene Waghelstein, stakeholder and Indigenous relations advisor for ConocoPhillips, describes the program as 'part of' the company's 'spirit values.' 'It hits with our community investment. We work with these communities,' said Waghelstein. 'Burlington Resources started this program, then Poco and ConocoPhillips merged with them. CNRL came into the picture and it's been both companies from the beginning. 'We've had this area of focus for where we work and operate for a long time.' Jamie Bodnarchuk, a surface landman for Indigenous and stakeholder relations for CNRL, says participation in the program is just being a 'good neighbour.' 'It's really important to invest in the communities that you're working in,' Bodnarchuk said. 'It definitely hits [CRNL's] core values as a company with our mission statement, supporting education, supporting youth and development.' The industry representatives wrote in a press release that while the SIS program does not 'directly address some of the systemic issues' related to a high school student dropping out, it welcomes proposals for community-level initiatives for various programs designed to address such issues, including head start, after school healthy snack, tutoring and youth programs to inspire educational goals. 'There are no milestones that need to be achieved. It's simply motivating kids to stay in school and finish the school year,' said Bodnarchuk. '[Some of these kids] don't have schools on their reserves. They have to travel quite a distance to get to school. So this is motivation.' One of the schools participating in the program is the Chalo School at the Fort Nelson First Nation (FNFN). The 120 students attending the school at all levels receive recognition several times throughout the year, says Jeanie Kenneway, a vice-principal at the school. To qualify for the program, students must attend 90 per cent of classes throughout the school year. Kenneway says she works with struggling students on a plan to get them to achieve the necessary attendance. 'We do attendance awards monthly at our assemblies,' said Kenneway. 'They could receive Tim Hortons gift cards. We celebrate by having pizza parties or taking them swimming, making it something that they're working towards and [students] know the program is important. 'At our school, if you miss the bus, we will actually pick you up. Being at school is the first step in going forward and learning, [but] you have to be here to learn. If you're not here, you're missing concepts that are being taught. [Missing] 20 days of school in a year, that's a month of school. 'We have had chronic students who don't come and we just work on that and say, 'let's see if you can miss three days this month instead of seven'.' More than 10,000 students have participated in the program since its inception, with 600 in the 2024-25 school year. The program is open to all students within First Nations communities in Treaty 8. However, students who live off-reserve are ineligible to participate. A celebratory barbecue commemorating the 25th year of SIS took place at West Moberly First Nations on June 19th, although each community may do a gathering for the students at different times of the school year. Oil and gas companies interested in contributing to the northeast B.C. SIS program can email IR@ . Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
14-06-2025
- Business
- Yahoo
Why Putting $7,000 in These Dividend Stocks Makes Sense for Your TFSA
Written by Andrew Walker at The Motley Fool Canada Canadian retirees are searching for good TSX dividend stocks to add to their self-directed Tax-Free Savings Account (TFSA) portfolios focused on generating reliable and growing passive income. Enbridge (TSX:ENB) raised its dividend in each of the past 30 years. The energy infrastructure firm currently boasts a market capitalization near $139 billion and possesses a solid balance sheet. This gives Enbridge the financial clout to make large acquisitions while also pursuing organic growth projects. Enbridge spent US$14 billion in 2024 to buy three natural gas utilities in the United States. The deals further diversified Enbridge's asset portfolio, adding businesses that generate steady rate-regulated cash flow. Enbridge is now the largest natural gas utility operator in North America. These assets complement the existing natural gas transmission and storage infrastructure in Canada and the United States at a time when natural gas demand is expected to rise. New gas-fired power generation facilities are being built to provide electricity for AI data centres. Enbridge's oil pipeline operations remain strategically important for the Canadian and American economies. The company moves about 30% of the oil produced in the two countries. Canada is now looking at the possibility of building new energy pipelines to enable producers to access more global customers. Enbridge could potentially be a player in that process. The company is currently working on a $28 billon capital program that will boost earnings in the next few years. This should support ongoing dividend increases. Investors who buy ENB stock at the current price can get a dividend yield of 5.9%. Canadian Natural Resources (TSX:CNQ) is up about $10 per share in the past two months, but still only trades near $45.50 at the time of writing compared to a high of $52 last fall. Investors can take advantage of the dips to add the stock as a solid income pick. CNRL is a major oil and natural gas producer with a diversified asset portfolio that includes oil sands, conventional heavy oil, conventional light oil, offshore oil, and natural gas production. The company has a long track record of making strategic acquisitions to boost production and reserves, as it did late in 2024 with its US$6.5 billion purchase of Chevron's Canadian assets. CNRL is the full owner or majority owner on most of its operations. This gives management the flexibility to quickly shift capital around the asset portfolio to take advantage of the best opportunities in the market as commodity prices change. The company reported record oil and natural gas production in Q1 2025. CNRL raised the dividend by 4% in March, following two increases in 2024. The latest hike marks the 25th consecutive year CNRL has increased the distribution. That's a great track record for a business that relies on commodity prices to determine its profits. Investors who buy CNQ stock at the current level can get a dividend yield of 5.1% Enbridge and CNRL pay attractive dividends that should continue to grow. If you have some cash to put to work in a TFSA focused on passive income these stocks deserve to be on your radar. The post Why Putting $7,000 in These Dividend Stocks Makes Sense for Your TFSA appeared first on The Motley Fool Canada. More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Andrew Walker has no position in any stock mentioned. The Motley Fool recommends Canadian Natural Resources and Enbridge. The Motley Fool has a disclosure policy. 2025
Yahoo
13-06-2025
- Business
- Yahoo
An Energy Stock Down 18% to Buy Right Now
Written by Andrew Walker at The Motley Fool Canada Canadian Natural Resources (TSX:CNQ) picked up a nice tailwind over the past two months, but the stock is still down about 18% from its 2024 high. Investors who missed the recent bounce off the 12-month low are wondering if CNQ stock is still undervalued and good to buy for a self-directed Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP) portfolio focused on dividends and long-term total returns. CNRL trades near $45 per share at the time of writing. The stock dipped as low as $35 two months ago during the market rout caused by the announcement of widespread U.S. tariffs. CNRL traded as high as $55 in April 2024, but has been on a downward trend since that time. Falling oil prices are the main reason the stock pulled back over the past year. Weak demand in China and rising production from non-OPEC members, including Canada and the United States, combined to put pressure on oil markets through the second half of 2024. The continued weakness so far in 2025 is attributed to uncertainty around how the U.S. tariffs will ultimately impact the American and global economies. Additional economic pain in China and a recession in the United States would likely put additional pressure on oil demand and lead to lower prices. The two countries are the largest users of oil in the world. Hopes for a near-term trade deal between the United States and China have provided some support to oil markets in recent weeks. A finalized agreement could provide a big boost. Geopolitics is also playing a role in the energy market in the past few days. West Texas Intermediate (WTI) oil trades near US$73 per barrel at the time of writing. It is up from US$60 at the end of May, driven higher by concerns that there could be a major supply disruption in the Middle East after Israel's latest air strikes on Iran. Prices could soar much higher if Iran closes the Strait of Hormuz, where roughly 20% of global oil supply has to pass to get to international markets Energy analysts widely expect the oil market to be oversupplied into 2026, based on anticipated production and consumption levels. If the geopolitical premium evaporates, WTI oil could quickly retest the US$60 point, so investors should brace for some near-term volatility. CNRL continues to focus on growing production and allocating capital to the best opportunities across its asset portfolio. The company has oil sands, conventional heavy oil, conventional light oil, offshore oil, and natural gas production. CNRL achieved record quarterly oil and natural gas production in the first three months of 2025. Adjusted net earnings came in at $2.44 billion in Q1 2025 compared to $1.98 billion in Q4 2024. Higher output, contributions from a major acquisition, and strong natural gas prices helped drive the improved profits. The board raised the dividend by 4% in March. This follows two dividend increases in 2024 and marks the 25th consecutive year the company has increased the distribution. Market turbulence should be expected in the coming weeks and months, so I wouldn't back up the truck. That being said, CNRL already trades at a discounted price and you get paid a solid 5.2% dividend yield to wait for things to settle down. If you have some cash to put to work, this stock deserves to be on your radar. The post An Energy Stock Down 18% to Buy Right Now appeared first on The Motley Fool Canada. More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube The Motley Fool recommends Canadian Natural Resources. The Motley Fool has a disclosure policy. Fool contributor Andrew Walker has no position in any stock mentioned. 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
