All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, May 04, 2026 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (TSX:GEI) ("Gibson" or the "Company") announced today its financial and operating results for the three months ended March 31, 2026. Key Highlights: Expanded core infrastructure footprint with the $400 million Chauvin acquisition, strengthening the long-term growth platform, and sanctioned the Hardisty Connection growth project, which will enhance and [Read more]
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Letter to Stockholders Issued by Diamondback Energy, Inc.
MIDLAND, Texas, May 04, 2026 (GLOBE NEWSWIRE) -- Diamondback Stockholders, This letter is meant to be a supplement to our earnings release and is being furnished to the Securities and Exchange Commission (SEC) and released to our stockholders simultaneously with our earnings release. Please see the information regarding forward-looking statements and non-GAAP financial information included at the end of this letter. Macro Update and Activity Plan Over the last year, we have spent more time [Read more]
Diamondback Energy, Inc. Announces First Quarter 2026 Financial and Operating Results; Increases Base Dividend and Production Guidance
MIDLAND, Texas, May 04, 2026 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback,” “we,” “our” or the “Company”) today announced financial and operating results for the first quarter ended March 31, 2026. FIRST QUARTER 2026 HIGHLIGHTS Average oil production of 521.0 MBO/d (979.4 MBOE/d) Net cash provided by operating activities of $1.8 billion; Operating Cash Flow Before Working Capital Changes1 of $2.6 billion Cash capital expenditures of $933 million Free [Read more]
US Justice Dept sues to block Minnesota’s climate change lawsuit
The U.S. Justice Department filed a lawsuit on Monday to block Minnesota from moving forward with a long-running lawsuit seeking to hold Exxon Mobil and other oil industry participants responsible for harms caused by climate change. The lawsuit marked the latest in a series of cases President Donald Trump's administration has filed that have sought to prevent Democratic-led states from enforcing laws or pursuing lawsuits that target fossil fuel companies over climate change. Judges have [Read more]
Goldman says global oil stocks approaching eight-year low, depletion speed a concern
Global oil stocks are approaching their lowest level in eight years, Goldman Sachs said on Monday, warning that the speed of depletion was becoming a concern as supplies through the Strait of Hormuz remained restricted. Oil prices jumped about 6% on Monday after Iran hit several ships in the Strait of Hormuz and set a UAE oil port ablaze, as President Donald Trump's attempt to use the U.S. Navy to free up shipping provoked the biggest escalation since a ceasefire was declared four weeks [Read more]
US, Gulf Arab nations draft new UN resolution on Strait of Hormuz
The United States and Gulf Arab nations are drafting a U.N. Security Council resolution designed to condemn Iran for blocking the Strait of Hormuz in response to a U.S.-Israeli bombing campaign, U.S. Ambassador to the U.N. Mike Waltz said on Monday. Waltz said negotiations will take place this week on the resolution, which comes after permanent Security Council members Russia and China blocked a resolution last month that Washington hoped would galvanize international efforts to restore [Read more]
Fujairah oil zone hit by fire after drone attack as UAE says it intercepted Iran missiles
Fire broke out at a major UAE oil industry zone on Monday after a drone attack originating from Iran, authorities said, as the Gulf state's military separately intercepted three Iranian missiles over its waters and a fourth crashed into the sea. Civil defence teams were deployed immediately to contain the blaze at the Fujairah Oil Industry Zone, the Fujairah Media Office said in a statement, adding that three Indian citizens were moderately injured in the attack and taken to hospital. The [Read more]
The time is now to make Canada an energy superpower
CALGARY, AB , May 4, 2026 /CNW/ - Global events over the past few months highlight the importance of affordable, reliable energy in people's lives and to the health and well-being of national economies, including Canada's. These events serve as a stark reminder that the global energy system is large, complex and interrelated. Access to abundant energy cannot be taken for granted. The global situation also highlights that Canadian energy, most notably oil and natural gas, can play a bigger role [Read more]
Forget 3% US inflation. It’s heading for 4%: McGeever
Is 4% the new 2%? U.S. inflation has been above the Federal Reserve's target for so long that many observers believe policymakers have implicitly accepted a higher level. The worry now is that it just keeps rising. Businesses, consumers and investors could be forgiven for thinking that policymakers, despite their repeated commitment to the Fed's 2% goal, are comfortable with 3% inflation. Headline annual PCE and CPI inflation rates have been above the Fed's 2% target every single month [Read more]
Kazakhstan’s oil and gas condensate output up 16% in April from March, source says
Kazakhstan, which accounts for more than 2% of global oil output, boosted oil and gas condensate production by 16% in April from March as output ramped up at major fields, a source familiar with the data said on Monday. Total production rose to 2.17 million barrels per day in April from 1.87 million bpd in March, the source said. The increase was driven mainly by higher output at Tengiz, the country's largest oilfield, where the source said production jumped 39% to 973,000 bpd. The [Read more]
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