Alberta
“It’s Canada’s Time to Shine” – CNRL’s $6.5 Billion Chevron Deal Extends Oil Sands Buying Spree

From Energy Now
Canadian Natural Resources Ltd.’s $6.5 billion acquisition from Chevron Corp. marks the latest in a string of deals that has helped make it the country’s largest oil producer and brought Alberta’s massive oil sands deposits almost entirely under local control.
CNRL has feasted on the oil sands assets of foreign energy producers over the past decade, snapping up stakes and operations from Devon Energy Corp. and Shell Plc as they shifted away from the higher-cost, higher-emissions oil sands business. Investors have applauded the strategy, which allows CNRL to boost output and make the operations more efficient.
That trend continued on Monday, with CNRL shares climbing more than 4% after the deal with Chevron raised its stake in a key oil sands mine and a connected upgrading facility, while also adding natural gas assets in the Duvernay formation.
“These assets build on the robustness of Canadian Natural’s assets,” said CNRL President Scott Stauth said on a conference call Monday. The deal boosts CNRL’s stake in the Athabasca oil sands project, which it first bought from Shell in 2017, to 90% from 70%.
The acquisition was largely expected and boosts CNRL’s oil and gas output by roughly 9%, adding the equivalent of 122,500 barrels of oil production per day.
“It’s just been a matter of time,” Eight Capital analyst Phil Skolnick said by phone, noting that CNRL had been seen as the logical buyer for Chevron’s oil sands business.
While CNRL also boosted its dividend by 7% on Monday, Desjardins analyst Chris MacCulloch cautioned the company’s additional debt to finance the acquisition “may disappoint some investors” given it plans to temporarily slow capital returns.
Still, MacCulloch said the deal is positive overall for CNRL as it further consolidates assets in the region. “There’s no place like home,” he wrote in a note.
Chevron, for its part, is the latest in a long line of US and international oil producers — such as BP Plc, TotalEnergies SE and Equinor ASA — that have shifted away from the oil sands after spending billions to build facilities in the heavy-oil formation. That has left the oil sands largely in the control of Canadian firms including CNRL, Suncor Energy Inc. and Cenovus Energy Inc.
“There’s no remaining, obvious assets available,” Ninepoint Partners partner and senior portfolio manager Eric Nuttall said after Monday’s deal. Ninepoint owns 3.1 million shares in CNRL, data compiled by Bloomberg show.
Many of those oil sands deals have been struck at prices that favor the Canadian buyers, which have consolidated land, reduced costs and boosted returns in recent years.
“It’s Canada’s time to shine,” Nuttall said, adding that he expects foreign investors will return to the country’s oil producers in the future.
Alberta
Calgary taxpayers forced to pay for art project that telephones the Bow River

From the Canadian Taxpayers Federation
The Canadian Taxpayers Federation is calling on the City of Calgary to scrap the Calgary Arts Development Authority after it spent $65,000 on a telephone line to the Bow River.
“If someone wants to listen to a river, they can go sit next to one, but the City of Calgary should not force taxpayers to pay for this,” said Kris Sims, CTF Alberta Director. “If phoning a river floats your boat, you do you, but don’t force your neighbour to pay for your art choices.”
The City of Calgary spent $65,194 of taxpayers’ money for an art project dubbed “Reconnecting to the Bow” to set up a telephone line so people could call the Bow River and listen to the sound of water.
The project is running between September 2024 and December 2025, according to documents obtained by the CTF.
The art installation is a rerun of a previous version set up back in 2014.
Emails obtained by the CTF show the bureaucrats responsible for the newest version of the project wanted a new local 403 area code phone number instead of an 1-855 number to “give the authority back to the Bow,” because “the original number highlighted a proprietary and commercial relationship with the river.”
Further correspondence obtained by the CTF shows the city did not want its logo included in the displays, stating the “City of Calgary (does NOT want to have its logo on the artworks or advertisements).”
Taxpayers pay about $19 million per year for the Calgary Arts Development Authority. That’s equivalent to the total property tax bill for about 7,000 households.
Calgary bureaucrats also expressed concern the project “may not be received well, perceived as a waste of money or simply foolish.”
“That city hall employee was pointing out the obvious: This is a foolish waste of taxpayers’ money and this slush fund should be scrapped,” said Sims. “Artists should work with willing donors for their projects instead of mooching off city hall and forcing taxpayers to pay for it.”
Alberta
Second body recovered from Bow Glacier Falls rockslide. Police identify first victim

News release from the RCMP and Parks Canada
Parks Canada and RCMP continue to respond to a rockslide at Bow Glacier Falls near Bow Lake, approximately 37 km north of Lake Louise in Banff National Park. Search and rescue operations resumed at 6:30 am on June 20, 2025.
RCMP confirm that the individual located deceased at the scene on June 19, 2025, was a 70-year-old female resident of Calgary, Alberta. RCMP also confirm that a second deceased individual was recovered on the morning of June 20, 2025. RCMP is notifying their next of kin and no further information is available at this time. Three individuals transported to hospital by STARS and ground ambulance on June 19, 2025 were all in stable condition at last report.
At this time, there are no additional persons reported missing and no additional unidentified vehicles at the trailhead located at Bow Lake.
Parks Canada and RCMP extend our deepest condolences to the families and friends of the two individuals who lost their lives, our hearts are with them. Our thoughts also remain with those in hospital and we hope for their full recovery.
In a continued effort to complete a thorough assessment, Parks Canada visitor safety teams continue work today with support from a geotechnical engineer with Canada Task Force One (CAN-TF1 Vancouver), as well as members of Canada Task Force Two (CAN-TF2 Calgary) and their partners in the Calgary Police Service.
The safety of first responders and park visitors is our top priority.
Bow Lake and the trail to Bow Hut have reopened. Bow Glacier Falls remains closed to all visitors. The NOTAM (no-fly zone) remains in place to ensure public safety and for park operations. Parks Canada and RCMP thank visitors for giving teams space to work safely.
The Icefields Parkway (Highway 93N) remains open with potential intermittent, short-term traffic stoppages in the vicinity of the incident. Heavy precipitation including snow is occurring on the Icefields Parkway. Please check the weather forecast and Alberta 511 before travelling.
Banff National Park remains open and safe to visit.
Updates will be provided as more information is available.
BACKGROUND:
RCMP AND PARKS CANADA – JOINT STATEMENT #2
June 20, 2025 8:10 AM
Lake Louise, Alberta – On June 19, 2025, at 1 pm Parks Canada received a report of a serious rockfall at Bow Glacier Falls located west of the Icefields Parkway (Highway 93N) near Bow Lake, which is approximately 37 km north of Lake Louise in Banff National Park.
Parks Canada wardens and RCMP remained on site overnight. Parks Canada visitor safety teams will continue working today with support from Canada Task Force Two (CAN-TF2 Calgary), a national disaster response team.
CAN-TF2 is conducting infrared flights, through their partners in the Calgary Police Service, in a continued effort to complete a thorough assessment. A Canada Task Force One (CAN-TF1 Vancouver) geotechnical engineer will conduct a slope stability assessment. The safety of first responders and park visitors is our top priority.
As reported yesterday, one person was located deceased at the location on June 19th. RCMP are working to notify next of kin. No further information about this individual is available.
Bow Lake remains closed to all visitors. A NOTAM (no-fly zone) remains in place to ensure public safety and for park operations. Parks Canada and RCMP thank visitors for giving teams space to work safely.
Alpine Club of Canada guests staying at Bow Hut are safe. Visitors staying at Bow Hut will be able to exit on schedule via the usual route, which is unaffected and safe to travel.
The Icefields Parkway (Highway 93N) remains open with potential intermittent, short-term traffic stoppages in the vicinity of the incident. Heavy precipitation including snow occurring on the Icefields Parkway. Please check the weather forecast and Alberta 511 before travelling.
Banff National Park remains open and safe to visit.
-
Business2 days ago
Canada’s critical minerals are key to negotiating with Trump
-
espionage1 day ago
From Sidewinder to P.E.I.: Are Canada’s Political Elites Benefiting from Beijing’s Real Estate Reach?
-
David Clinton24 hours ago
Why Are Ontario’s Public Schools So Violent?
-
Economy2 days ago
Ottawa’s muddy energy policy leaves more questions than answers
-
Business21 hours ago
Senator wants to torpedo Canada’s oil and gas industry
-
Bruce Dowbiggin21 hours ago
FUBAR: How Trudeau & Trump Rewrote This Century’s Political Handbook
-
Business2 days ago
RFK Jr. planning new restrictions on drug advertising: report
-
Alberta1 day ago
Alberta’s carbon diet – how to lose megatonnes in just three short decades