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Alberta

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

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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.

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Alberta

Tell the Province what you think about 120 km/h speed limit on divided highways

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Alberta’s government is engaging with Albertans on increasing speed limits on rural highways.

Starting Nov. 7, Albertans can share their views on modernizing speed limits on divided highways through an online survey running until Dec. 12. The survey will ask how Albertans view raising the speed limit by 10 km/h on various highways from 110 km/h to 120 km/h.

“Alberta’s government is investigating how to safely increase speed limits on divided highways, and if Albertans support increasing speed limits. We are investing more than $1.5 billion this year alone to improve highway safety and upgrade infrastructure across the province. We want Albertans to be able to drive the speed limit that the highways are designed for. Modern vehicles combined with public awareness mean we can explore higher speed limits.”

Devin Dreeshen, Minister of Transportation and Economic Corridors

The survey will provide Albertans with the opportunity to provide input on which highways they would prioritize having a speed limit increase, their views on restricting commercial trucks from using the far-left lane on highways with three or more lanes and any other feedback that would improve driving experiences on provincial highways.

Following a review of the survey results, Alberta’s government plans to conduct a mini-trial of a 120 km/h speed limit to assess the impacts of higher speed limits on divided highways. The trial will include strong monitoring to assess driving behaviour.

Alberta’s government reminds motorists to slow down and drive to the conditions. Speed limits are set for ideal conditions. When roads are wet, icy or when there is reduced visibility, motorists should slow down.

Quick facts

  • Alberta’s provincial highway network includes more than 64,000 lane kilometres of highways, about 11,700 lane kilometres of which are divided.
  • The posted speed limits of Alberta’s divided highways range from 100 to 110 km/h, although the posted speed limits on segments passing through cities, towns and First Nation lands can be as low as 50 km/h due to factors such as signalized intersections, pedestrians and local access.

Related information

  • The survey is available online.
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Alberta

Alberta Announces Members of Class Size and Complexity Committee

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A new Class Size and Complexity Cabinet Committee has been struck to address classroom challenges.

Taking action on class size and complexity

Classrooms in Alberta continue to grow and are becoming increasingly complex, and immediate action is needed to address these issues in the public education system. To meet these issues head on, the Class Size and Complexity Cabinet Committee has been created. The cabinet committee will help guide government policy and deploy resources to deal with class sizes and classroom complexity.

“We are committed to providing world-class education, and we’re building schools and funding education at a rate unprecedented in this province. This committee will help us address the concerns of teachers, parents and students around class sizes and complexity.”

Danielle Smith, Premier

Throughout November, Alberta’s government will continue work with school boards to collect data on class sizes and classroom composition. The cabinet committee will use this data to direct resources to the classrooms that need it the most. Starting in January, this data will be made available and released annually.

The Class Size and Complexity Cabinet Committee will be co-chaired by the Premier of Alberta and the Minister of Education and Childcare. It will also include non-voting members representing school boards, administrators and a teacher representative of the ATA. The committee will also hear from school boards, academic experts, teachers, educational assistants, complex needs specialists and parents to inform its decisions and guide this vital work.

“We heard teacher concerns, and we are providing solutions. The Class Size and Complexity Cabinet Committee will help us take immediate action and ensure teachers and students are given the support they need to succeed.”

Demetrios Nicolaides, Minister of Education and Childcare

In June 2025, Alberta’s government established the Aggression and Complexity in Schools Action Team to provide advice on addressing classroom complexity. The report has been received and will be released soon. Over the coming months, the cabinet committee will start rolling out solutions informed by the action team’s recommendations. In addition, the committee will guide the creation of a new inclusive education policy framework.

“The work of this committee will support teachers in responding to the growing complexity in our classrooms. We will ensure that the voices of the contributors to the initial work guide solutions that truly improve the educational experience for students and the educators who serve them.”

Lynnette Anderson, chief superintendent, Edmonton Catholic Schools

“I appreciate the government’s recognition of the impact of classroom complexity and their commitment to working collaboratively for improvement. Supporting teachers ultimately improves classroom conditions and student outcomes.”

Joanne Pitman, chief superintendent, Calgary Board of Education

Using data collected, this cabinet committee will also guide Alberta’s government in executing its commitment to hire 3,000 new teachers and 1,500 new educational assistants over the next three years. They will also assist in identifying and prioritizing where new schools and modulars should be built, advancing the government’s commitment to invest $8.6 billion to build 130 new schools, and provide 109 modular classrooms in the growing communities that need them urgently.

Quick facts

  • Members of the Class Size and Complexity Cabinet Committee include:
    • Danielle Smith, Premier of Alberta
    • Demetrios Nicolaides, Minister of Education and Childcare
    • Jason Nixon, Minister of Assisted Living and Social Services
    • Rick Wilson, Minister of Mental Health and Addiction
    • Searle Turton, Minister of Child and Family Services
    • Lynnette Anderson, chief superintendent, Edmonton Catholic Schools
    • Nicole Buchanan, chair, Red Deer Public Schools
    • Marilyn Dennis, former president of Alberta School Boards Association
    • Mike McMann, superintendent, Fort Vermilion Schools and President, College of Alberta School Superintendents
    • Joanne Pitman, chief superintendent, Calgary Board of Education
    • Dr. Elissa Corsi, Alberta Teachers’ Association
  • Only Cabinet members are voting members. Additional guests will be invited to attend and share their expertise at the discretion of the chairs.
  • School boards will be required to submit data on Alberta classrooms by Nov. 24.

 

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