CALGARY, Alberta, March 10, 2026 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX: PEY) is pleased to report operating and financial results for the fourth quarter and 2025 fiscal year. Full Year and Q4 2025 Highlights: Delivered $245.0 million in funds from operations1,2 ("FFO"), or $1.19/diluted share, and $102.0 million of free funds flow3 in the quarter. Annual FFO totaled $860.5 million or $4.24/diluted share, and annual free funds flow [Read more]
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Chevron, Shell closing in on first big oil production deals in Venezuela since US captured Maduro, sources say
International oil majors Chevron and Shell are closing in on the first big oil production deals with Venezuela since the U.S. capture of President Nicolas Maduro in January, five sources close to the negotiations told Reuters. The deals would allow both companies to boost production in coveted oil regions in the South American country, the biggest steps to date toward what U.S. President Donald Trump has said would be a $100 billion effort to rebuild Venezuela's oil industry after decades of [Read more]
LNG Canada ramps up output as Iran war threatens global gas supplies
LNG Canada, a Shell-led venture, has ramped up production and exports to Asia this month, LSEG data show, as the Iran war threatens Asian natural gas supplies which are particularly vulnerable to global disruptions. The LNG project in Kitimat, British Columbia, which began operations in June 2025, has exported five cargoes in the first 11 days of March, already exceeding half its total February volume, the data shows. A sixth shipment is due to depart on Tuesday. All cargoes have been sent to [Read more]
US natgas output to hit record high in 2026, while demand declines, EIA says
U.S. natural gas output will rise to a record high in 2026, while demand will decline, the U.S. Energy Information Administration said in its short-term energy outlook on Tuesday. EIA projected dry gas production will rise from a record 107.7 billion cubic feet per day (bcfd) in 2025 to 109.5 bcfd in 2026 and 112.3 bcfd in 2027. The agency also projected domestic gas consumption will fall from a record 91.9 bcfd in 2025 to 91.4 bcfd in 2026 before rising to 92.1 bcfd in 2027. The March [Read more]
Yearly US crude oil exports decreased in 2025 for first time since 2021, EIA says
U.S. crude oil exports decreased 3% in 2025 from 2024, the first annual decrease since 2021, the U.S. Energy Information Administration said on Tuesday. The U.S. exported 4.0 million barrels per day of crude oil, 85 times as much as in 2011, but slightly less than in 2023 and 2024, according to the EIA. The EIA also noted U.S. exports decreased to Europe and the Asia and Oceania region, the two top regional destinations for U.S. crude oil. It added exports to Europe decreased by 7%, likely [Read more]
What are the challenges in securing shipping through the Strait of Hormuz?
The Pentagon is looking at ways to escort ships safely through the Strait of Hormuz, U.S. Chairman of the Joint Chiefs of Staff General Dan Caine said on Tuesday. About a fifth of global oil and liquefied natural gas normally passes through the strait but Iran, which lies on its northern coast, has effectively closed it. Traffic through the strait has dropped by 97% since the U.S.-Israeli war against Iran began on February 28, according to United Nations data. The U.S. is seeking to calm oil [Read more]
Oil could hit $150 amid Gulf shutdown, Wood Mackenzie says
War in Iran is currently cutting Gulf oil and oil products supply to the market by some 15 million barrels per day (bpd) which could raise crude prices to $150 per barrel, research and consultancy firm Wood Mackenzie said on Tuesday. Iran's Revolutionary Guards have vowed not to let any oil out of the Middle East until U.S. and Israeli attacks cease. WoodMac said: * "Gulf countries in total produce 20 million bpd of liquids, and 15 million bpd of exports have been taken out of the [Read more]
Aramco sees ‘catastrophic consequences’ for oil if shipping doesn’t resume in Strait of Hormuz
Saudi Arabia's Aramco, the world's top oil exporter, said on Tuesday that there would be "catastrophic consequences" for the world's oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz. The disruption has not only upended the shipping and insurance sectors but also promises to have drastic domino effects on aviation, agriculture, automotive and other industries, Aramco CEO Amin Nasser told reporters on an earnings call. Nasser noted global inventories of oil [Read more]
Exxon evacuated non-essential Middle East staff as operations scaled back, CEO says
Exxon Mobil has evacuated non-essential employees from its operations in the Middle East, CEO Darren Woods said in an interview on Tuesday, as the U.S.-Israel war on Iran continues. Some operations have been scaled back to manage oil inventory levels as traffic through the Strait of Hormuz has been challenged, he said. Exxon is a minority partner in oil and gas projects in the UAE, Qatar and Saudi Arabia. "Our first and highest priority is making sure our people remain safe, and we evacuated [Read more]
Got Methane? We’ve Got a Better Idea
With today’s ever-tightening rules on methane emissions, Producers are being forced to take new approaches when planning their facilities. Whether it’s changing to electric controllers or installing a VRU for tank vapours, these changes can be costly. But maybe a familiar technology can be a solution to some of these problems. Utilizing a pressurized storage tank rated to 14.9 psi, this sealed unit forces all vapours to the flare stack without the use of a large diameter welded flare line. [Read more]
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