The company says it stopped the dissolution plan after consultations with its advisers, stakeholders and relevant governmental authorities, reversing a decision it announced last week as the U.S. expands sanctions on the country.

Analysts are encouraged by a “sense of urgency” surrounding a potential new pipeline, but point out the provincial and federal governments still need to agree on the Pathways carbon capture project. There is also opposition to the project from B.C.’s government and some Indigenous groups.

Cost of gasoline was 28.6 per cent higher in April year-over-year, helping boost overall inflation, while the pace of inflation slowed for other costs like rent and food. Economists noted that core measures of inflation that strip out more volatile prices have risen at a much slower clip.