Industry News

 In an increasingly volatile world, Canada is strengthening its sovereignty and security by expanding its global trade network. Our free trade agreements already connect Canadian businesses with more than 1.5 billion consumers across 51 countries. Building on the Prime Minister and Minister Hodgson’s January 2026 visit to China, we are deepening engagement across the Asia-Pacific, opening new markets for Canadian exporters and creating opportunities for economic growth and prosperity. 

 Shell plc has completed its previously announced acquisition of ARC Resources Ltd. (TSX: ARX), following approval from shareholders, the courts and regulators. The acquisition strengthens Shell’s position in Canada by adding approximately 370,000 boe/d of oil and gas production and supporting an expected production CAGR of about 4% through 2030, compared with 2025 levels.  

 KKR, in partnership with funds and affiliates managed by Apollo, will invest approximately C$2.7 billion in the expansion projects, including C$700 million in cash to Enbridge at closing. In return, KKR and Apollo will receive an indirect, cumulative 29% interest in the overall Westcoast system once the Sunrise program enters service. 

Oil and gas companies across the Americas are increasingly adopting artificial intelligence to enhance operational efficiency, improve asset performance, and strengthen decision-making processes. AI-driven tools are being applied to predictive maintenance, production optimization, safety monitoring, and data analytics across upstream and downstream activities.

Oil and gas operators are accelerating adoption of AI-enabled software platforms to modernize aging infrastructure, improve asset performance and strengthen operational resilience, according to new research from Information Services Group (ISG). The research finds upstream companies increasingly turning to automation, digital twins and predictive maintenance tools as they contend with tighter margins, workforce constraints and more complex operating environments. Legacy supervisory systems are giving way to integrated platforms that combine cloud computing, analytics and real-time data to anticipate equipment failures, reduce downtime and extend asset life. 

The global oil and gas NDT and inspection market is projected to grow from USD 4.06 billion in 2025 to USD 6.20 billion by 2030, at a CAGR of 8.8%. Growth is driven by increasing focus on asset integrity, corrosion prevention, and regulatory compliance across aging infrastructure. Advanced inspection technologies, including ultrasonic testing, AI-enabled analytics, and automated systems, are accelerating adoption worldwide.

According to Market Research Intellect, the global Oil And Gas Project Management Software market in the Internet, Communication and Technology category is projected to witness significant growth from 2025 to 2032. Market dynamics, technological advancements, and evolving consumer demand are expected to drive expansion during this period.

In 2024, the crude oil and natural gas market navigated a complex landscape of controlled OPEC+ supply and variable demand, heightened geopolitical tensions, macroeconomic weakness, and a continued focus on energy transition.