Resources & Agriculture

Regulator's mandate expanded to include hydrogen, geothermal

OTTAWA — The Liberal government's long-promised plan to transition Canada's labour force to respond to climate change says a clean energy economy will not prompt massive unemployment in the country's energy towns.

CALGARY — TransAlta Corp. says it will acquire a 50 per cent interest in an early-stage pumped hydro energy storage development project in southwest Alberta.

VANCOUVER — Teck Resources Ltd. says it's evaluating alternatives for its steelmaking coal business, including the possible spin-out of an interest in that business to its shareholders.

CALGARY — Cenovus Energy Inc. says chief executive Alex Pourbaix will become executive chair later this year, while chief operating officer Jon McKenzie will become chief executive.

Japanese, Korean officials make the case for demand for Canadian energy

SASKATOON — Nutrien Ltd. says it earned $1.1 billion in the fourth quarter of 2022, down seven per cent from the same quarter a year earlier. Earnings per diluted share for the quarter ended Dec. 31 were $2.15, up from $2.11 a year earlier.

Barclays PLC, once a major oilsands funder, says it will no longer provide financing to the industry.

Replacing current production from open-net salmon farms in B.C. with land-based systems would require at least $1.8 billion in investment, government subsidies and regulatory changes.

CALGARY — Suncor Energy Inc. did not announce the name of its new CEO on its fourth-quarter earnings call Wednesday, though interim chief executive Kris Smith said a decision is expected "very soon.