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]
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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]
Alliance Pipeline announces a binding open season for firm service in Alberta’s Industrial Heartland
CALGARY, AB: (March 2, 2026) Alliance Pipeline Limited Partnership (“Alliance”), fully owned and operated by Pembina Pipeline Corporation, announced today a binding open season (“Open Season”) for expansion capacity commitments of up to 350 mmcf/d of incremental natural gas delivery in Alberta’s Industrial Heartland (“Firm Heartland Service”) that will remain open until April 20, 2026. The Open Season is on the Canadian segment of the Alliance system in northwest Alberta for the Firm [Read more]
Logan Energy Corp. announces closing of previously announced strategic Montney asset acquisition, expanded credit facilities and upsized equity financings
CALGARY, AB, March 10, 2026 /CNW/ - Logan Energy Corp. (TSXV: LGN) ("Logan" or the "Company") is pleased to announce the closing of its previously announced acquisition of certain assets predominantly in the Company's core area at Simonette, Alberta, for a cash purchase price of $62.5 million, before closing adjustments. Logan is also pleased to announce the closing of the previously announced upsized bought-deal equity financings, including the full exercise of the [Read more]
G7, EU to discuss soaring energy prices, strategic reserves
G7 energy ministers will discuss how to tackle soaring energy prices due to the war in Iran on a call on Tuesday while a group of European Union leaders will do so later in the day, officials said. Oil prices surged to $119 a barrel on Monday, their highest levels in almost four years, on fears of Gulf output cuts and disrupted exports by tanker. European governments are on edge about the prospect of a repeat of the energy crisis they faced in 2022, when prices surged to record peaks, [Read more]
Gulf energy official says stopping the war is only way to reopen Hormuz
A senior Gulf energy industry official said on Tuesday stopping the Iran war was the only option when asked if there were ways of getting oil and gas moving again through the Strait of Hormuz. The official spoke on condition of anonymity, given the sensitivity of the matter. (Reporting by Maha El Dahan; Editing by Andrew Heavens) [Read more]
Iran says oil blockade will continue until attacks end, Trump threatens to escalate strikes
Iran's Revolutionary Guards said on Tuesday they would not allow "one litre of oil" to be shipped from the Middle East if U.S. and Israeli attacks continue, prompting a warning from President Donald Trump that the U.S. would hit Iran much harder if it blocked exports from the vital energy-producing region. The heightened rhetoric did little to quell a sharp retreat in crude prices and a rally in global shares, which came after Trump expressed confidence in a swift end to hostilities even [Read more]
Trump says US is waiving certain oil-related sanctions to ensure supply
President Donald Trump said on Monday that the United States is waiving certain oil-related sanctions as a way to ensure adequate oil supply and lower prices. At a news conference at his Doral golf club, Trump said oil prices have not spiked as much as he had feared. Trump said the United States is waiving certain oil-related sanctions to cut prices. "We have sanctions on some countries. We're going to take those sanctions off till the Strait (of Hormuz) is up," Trump said. He was [Read more]
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