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Saudi Aramco boosts Red Sea oil shipments as Hormuz disruption curbs exports

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Top oil exporter Saudi Arabia is increasing shipments from the Red Sea, but the volumes are far from enough to offset the drop from the crisis-hit Strait of Hormuz, shipping data showed. Saudi Arabia and other Gulf producers - the United Arab Emirates, Kuwait and Iraq - have halted Hormuz shipments since Saturday after the United States and Israel attacked Iran and Tehran retaliated with drone and missile strikes. With hundreds of vessels now stuck near the strait, Aramco has told some [Read more]

BP Chair Manifold trims board, former Shell CFO to exit

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BP Chairman Albert Manifold on Friday announced plans for a slimmer board as part of the British oil major's reset strategy, with former Shell chief financial officer Simon Henry among those departing. The leaner board is another of Manifold's changes since coming on as chairman in October. Since then, Murray Auchincloss abruptly departed as CEO in December, with Woodside Energy's Meg O'Neill set to take over the top role starting in April. O'Neill is BP's first external hire for the post [Read more]

AltaGas Reports Strong Fourth Quarter and Full Year 2025 Results

  Continued Execution Delivers 2025 Normalized EBITDA at High End of Guidance Range CALGARY, AB, March 6, 2026 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) reported fourth quarter and full year 2025 results, reaffirmed 2026 guidance, and provided an update on its operations, projects and other corporate developments. Fourth Quarter and 2025 Highlights (all financial figures are unaudited and in Canadian dollars unless otherwise noted) Financial Results [Read more]

AltaGas appoints Derek Evans as Board Chair successor

  CALGARY, AB, March 6, 2026 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) today announced that its Board of Directors has approved a planned transition of the Board Chair role, effective May 1, 2026, following the Company's 2026 Annual Meeting of Shareholders. Derek Evans has been appointed as the next Board Chair. Pentti Karkkainen will continue to serve as Chair until May 1, 2026, and will remain on the Board as an active Director thereafter to support continuity and [Read more]

South Bow gauging shipper interest in new Alberta-to-U. S. pipeline project

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CALGARY - Oil pipeline operator South Bow Corp. says it is gauging customer interest in a new project to ship Alberta crude to multiple U.S. destinations. The Calgary-based company says it has begun soliciting binding commitments for long-term transportation service from Hardisty, Alta., to points south including the massive crude storage hub at Cushing, Okla., and the U.S. Gulf Coast. The bid process known as an "open season" is to last until the end of this month, and South Bow will take [Read more]

Headwater Exploration Inc. announces year end 2025 operating and financial results, operations update and declares quarterly dividend

  CALGARY, AB, March 5, 2026 /CNW/ - Headwater Exploration Inc. (the "Company" or "Headwater") (TSX: HWX) announces its operating and financial results for the three months and year ended December 31, 2025. Selected financial and operational information is outlined below and should be read in conjunction with the audited financial statements and the related management's discussion and analysis ("MD&A").  In addition, readers are also directed to the Company's Annual Information [Read more]

Discount on Western Canada Select narrows

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The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures narrowed on Thursday. WCS for April delivery in Hardisty, Alberta, settled at $12.20 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $12.45 on Wednesday. * The discount on heavy Canadian crude has narrowed by approximately $1.50 since the U.S.-Israel war on Iran began. * With the Strait of Hormuz closed, there is a supply shortage of heavy and [Read more]

South Bow moves to revive parts of Keystone XL with binding shipper commitments

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Canadian pipeline operator South Bow said on Thursday it has launched a formal open season seeking binding long-term shipping commitments for a revival of part of the Keystone XL oil pipeline, a move that could boost Canada's crude exports to the United States by more than 12%. The open season, which runs until March 30, would solicit transportation commitments from Hardisty, Alberta, to U.S. delivery points. South Bow will then conduct a 60-day review of the results before deciding on next [Read more]

New coalition targets $100M for Canadian carbon removal projects by 2030

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An emerging industry to remove carbon dioxide out of the atmosphere got a boost on Thursday with the launch of an initiative to raise another $100 million for those projects. The federal government, RBC, BMO and Shopify are among the founding members of what's being billed as the Advance Carbon Removal Coalition. The coalition says its members aim to mobilize $100 million in new support for Canadian carbon removal projects by 2030, on top of the $75 million they've contributed to [Read more]