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A colossal Canadian oil-sands project may be showing the way forward for an industry many thought would never see new investments.

New rules limiting the amount of sulfur allowed in shipping fuel is expected to cut demand for high-sulfur fuel oil and the sour crude that yields it. In Canada, that could extend — or worsen — the biggest price slump in nearly five years.

Axeon Specialty Products is shuttering the largest asphalt refinery in the United States when the country might need it most.

TransCanada Corp.’s request to pause a U.S. review of its Keystone XL oil pipeline gives President Obama a way to ease a political headache at home and help him repair frayed relations with Canada.