14:32:19 EDT Mon 29 Jun 2026
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Ovintiv Inc
Symbol OVV
Shares Issued 281,018,601
Close 2026-06-26 C$ 75.34
Market Cap C$ 21,171,941,399
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Globe says Imperial Oil hears call for Ottawa's backing

2026-06-29 09:02 ET - In the News

See In the News (C-IMO) Imperial Oil Ltd

The Globe and Mail reports in its Monday edition that Ottawa has agreed in principle to a new oil pipeline to the Pacific coast, with Alberta set to submit its proposal by July 1. Guest columnist Dmitry Frolovskiy writes that while it's a long-awaited breakthrough for energy advocates, private-sector interest has declined and no company has expressed interest in the pipeline yet. No one can blame the private sector for its lack of enthusiasm. Two major pipeline projects have failed in Canada. Years of neglecting the industry's voices came with a cost. Investor trust does not come back on the strength of a single good decision. Just like everything, it must be earned. Ottawa must step up and fix what it broke. It is no secret that Canada sells almost all its crude to a single buyer to the south. The new line to the coast is designed to give producers a second market, much-needed economic diversification and some insurance if the current West Coast Trans Mountain system fills up again. But building a pipeline is a business that always carries some risk -- in this case, that includes the possibility that a project costing billions may never deliver what it pledged.

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