TotalEnergies plans to spin off all its Canadian oil sands assets and related midstream and trading businesses
Exodus from Canada’s oil sands continues
Companies are still fleeing the carbon-heavy assets, despite the industry committing to net-zero emissions by 2050 through the Pathways Alliance
TotalEnergies has unveiled plans to spin off its Canadian oil sands assets, and Vancouver-based miner Teck Resources has sold its share of Alberta’s Fort Hills mine to Suncor Energy, the asset’s operator and largest stakeholder, marking two high-profile exits from Canada’s oil sands since the end of September. “This is part of a longer-term trend by upstream oil and gas companies to divest non-core assets and focus more on core ones where they are more heavily positioned and/or believe they have competitive or strategic advantage,” Kevin Birn, vice-president at information provider S&P Global Commodity Insights, tells Petroleum Economist. “Companies such as TotalEnergies have a global po
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
