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Tourmaline Oil Corp
Symbol TOU
Shares Issued 387,010,714
Close 2026-01-14 C$ 58.41
Market Cap C$ 22,605,295,805
Recent Sedar+ Documents

Globe says Cenovus, rivals hear we're competitive

2026-01-15 07:20 ET - In the News

See In the News (C-CVE) Cenovus Energy Inc

The Globe and Mail reports in its Thursday edition that President Donald Trump reaffirmed his pledge for U.S. companies to resume Venezuelan crude exports, prompting a re-evaluation of Canada's own strategic position amid geopolitical uncertainty. The Globe's Emma Graney and Jeffrey Jones write that Canada's long-term problem may arise from Venezuelan oil being a similar grade to its oil sands crude, which makes up the bulk of fuel exports to the U.S. The rebuild of Venezuela's fossil-fuel infrastructure will take time. The U.S. oil and gas sector views Canada as its crucial energy trading partner. Given that it would take years for Venezuelan crude to potentially re-enter the market, "Canada is going to continue to be an important partner for decades to come," said American Petroleum Institute chief executive officer Mike Sommers. "In addition to that, we expect demand is going to continue to increase. So I think that there is going to be room for significant amounts of imported Canadian crude in addition to new barrels coming from Venezuela." Prime Minister Mark Carney has played down the risks to Canada"s place in the global market should Mr. Trump's plan to resuscitate the Venezuelan oil sector succeed.

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