Wednesday, October 14, 2026

Canadian oil producers saw operating profits jump 68 per cent between the first and second quarters of 2026, but capital spending has not kept pace, according to a new Deloitte Canada report.

The report points to considerable volatility in crude prices as one factor shaping the sector’s outlook. For Alberta contractors and industrial trades, that split between stronger earnings and restrained spending matters: producers may be making more money without committing the same pace of dollars to new work, expansions or upgrades.

Deloitte’s numbers cover the first half of the year, offering a snapshot of where the oilpatch stands as companies weigh spending against an unsettled price environment.

A rooftop ventilation unit sent carbon monoxide levels above 150 ppm through a three-storey multi-unit residential complex in southeast Calgary early Wednesday morning.

Fire crews evacuated 62 people after a resident’s alarm activated and a strong exhaust odour was detected. Two Calgary Transit buses provided warm shelter while firefighters located the source, shut off the gas and ventilated the building. ATCO confirmed the source, and residents were allowed to return once no carbon monoxide was detected.

The City says levels above 50 ppm are considered dangerous. No injuries were reported.