The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Wednesday for the first time since the U.S.-Israeli war on Iran began. WCS for April delivery in Hardisty, Alberta, settled at $12.45 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $12.40 on Tuesday. * With the Strait of Hormuz closed, there is a supply shortage of heavy and sour grades of crude oil in Asia, which should create demand [Read more]
News
Insurance broker Marsh meets US officials on restoring Gulf maritime trade amid Iran war
Insurance broker Marsh McLennan said on Wednesday it had met with U.S. officials to explore solutions for restoring maritime trade amid escalating fighting in the Middle East, as attacks in the region threaten energy shipments through the Strait of Hormuz. The waterway, a critical chokepoint between Iran and Oman, carries about a fifth of globally traded crude oil and liquefied natural gas. Shipping through the strait has slowed significantly following Iranian strikes on commercial [Read more]
Baytex Announces Fourth Quarter and Full Year 2025 Results and CEO Succession; Completes Transition to a Focused Canadian Energy Company
Calgary, Alberta--(Newsfile Corp. - March 4, 2026) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex") reports its operating and financial results for the three months and year ended December 31, 2025 (all amounts are in Canadian dollars unless otherwise noted). "2025 was a definitive year for Baytex, marked by the successful repositioning of our portfolio into a focused, high-return Canadian oil producer," said Eric T. Greager, Chief Executive Officer. "We strengthened our financial [Read more]
Vermilion Energy Inc. Delivers Record Annual Production and Strong Reserve Recycle Ratios, Q4 2025 Production Exceeds Guidance with Robust Fund Flows from Operations
CALGARY, AB, March 4, 2026 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion" or the "Company") (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the year ended December 31, 2025. The audited financial statements, management discussion and analysis and annual information form for the year ended December 31, 2025 will be available on the System for Electronic Document Analysis and Retrieval Plus ("SEDAR+") at www.sedarplus.ca, on EDGAR at [Read more]
Tourmaline achieves record production, adds 829 million BOE of 2P reserves and reduces 2026 EP capex
CALGARY, AB, March 4, 2026 /CNW/ - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to release financial and operating results for the full year and fourth quarter of 2025. HIGHLIGHTS Record Q4 2025 average production of 659,204 boepd and January 2026 average production of over 685,000 boepd. 829 million boe proved plus probable ("2P") reserve addition in 2025, including a corporate record single year organic 2P reserve addition of 457 [Read more]
Advancing the Industry: Women Defining Energy’s Next Era
ALBERTA — March 4, 2026 - Young Women in Energy (YWE) is proud to announce the recipients of the 2025 YWE Awards! These ten professionals represent a diverse cross‑section of Alberta’s energy sector and are contributing to the industry’s continued evolution through leadership, innovation, and community impact. Since launching the awards program more than a decade ago, YWE has recognized over 100 emerging leaders. The YWE Awards highlight individuals who demonstrate exceptional performance, [Read more]
US diesel hits $4 per gallon as fuel costs rise amid escalating Middle East conflict
Average U.S. retail diesel prices surpassed $4 a gallon for the first time in nearly two years on Wednesday and are set to rise further later in the week as the U.S.-Israel conflict with Iran dragged on, threatening to hit consumers with sticker shocks on everything from food to furniture. Prices for diesel, used mainly in manufacturing and freight, have been on a tear since Iran began retaliating against U.S. and Israeli strikes on the country by bombing energy infrastructure across the [Read more]
Americas heavy crude prices hit multi-year highs as Iran conflict disrupts oil markets
Prices for heavy crude produced in the Americas surged to multi-year highs on Wednesday, as the U.S.-Israeli attacks on Iran stymied exports of similar oil produced in the Middle East. Benchmark crude oil prices have surged since the initial attacks last week, with Brent crude at its highest levels since January 2025. Iran has threatened to fire on any vessel sailing through the shipping lanes of the Strait of Hormuz off its southern coast in retaliation for the U.S.-Israeli attacks. That [Read more]
Oil companies shun Trump administration’s Alaska offshore auction
Oil and gas drillers failed to show up at the Trump administration's sale of more than 1 million acres (404,686 hectares) in Alaska's Cook Inlet on Wednesday, declining to submit even a single bid. The sale was the first of six Alaska offshore oil and gas auctions mandated through 2032 by U.S. President Donald Trump's One Big Beautiful Bill Act, which he signed into law last year. Trump has sought to expand domestic oil and gas resources, including in Alaska where production has been in [Read more]
Ottawa agrees to cover Bay du Nord oil project’s UN fees, which could hit $1 billion
ST. JOHN'S - The Canadian government has agreed to cover fees for a proposed deepwater oil project that could come due under a United Nations convention, and officials say the tab could hit $1 billion. Federal Fisheries Minister Joanne Thompson confirmed the commitment Tuesday night at an event announcing Newfoundland and Labrador's benefits arrangement with Equinor for its Bay du Nord offshore oil development. The project would be built in an area about 500 kilometres off the east coast [Read more]
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