U.S. energy firms this week added oil and natural gas rigs for a third week in a row for the first time since November, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by five to 551 in the week to February 6, its highest since November. Despite this week's rig increase, Baker Hughes said the total count was still down 35 rigs, or 6% below this time last year. Baker Hughes said oil rigs rose [Read more]
News
Williams weighs buying gas-producing assets to enhance AI energy supply to hyperscalers, sources say
Williams Companies is exploring buying natural gas production in the United States, a rare foray for an energy infrastructure operator, as it aims to secure natural gas supplies to support its one-stop-shop offering to hyperscalers and data center clients, three people familiar with the matter said. The Tulsa, Oklahoma-based firm has spent the last year positioning itself as a leader in providing energy to companies building out artificial intelligence infrastructure, supplementing its [Read more]
Mexico seeking way to send fuel to Cuba without being hit by US tariffs, sources say
Mexican officials are evaluating how to send fuel to Cuba to help meet basic needs such as electricity and transportation without triggering reprisals from Washington, which has threatened tariffs against countries supplying fuel to the Caribbean island, four sources familiar with the matter said. The sources said high-level Mexican officials have been talking to U.S. counterparts in order to gain clarity on the scope of the tariff threat outlined by President Donald Trump in an executive [Read more]
Australia’s largest takeover bids that never made it across the line
Merger talks between Rio Tinto and Glencore collapsed after the two sides failed to bridge differences over valuation, ending months of negotiations over a tie-up that would have created the world's largest mining company with a market value exceeding $200 billion. Here is a list of some of the biggest failed mergers and acquisitions involving Australian companies over the past three years. RIO TINTO-GLENCORE Takeover discussions between mining major Rio Tinto and Glencore ended after [Read more]
Lotus Creek Exploration Inc. Announces a New Corporate Presentation
Calgary, Alberta--(Newsfile Corp. - February 6, 2026) - Lotus Creek Exploration Inc. (TSXV: LTC) ("Lotus Creek" or the "Company") is pleased to announce that a new Corporate Presentation has been posted to the Company's website and can be accessed via the following link: CORPORATE PRESENTATION - FEBRUARY 2026 FOR FURTHER INFORMATION, PLEASE CONTACT: Kevin Johnson President & CEO 403-538-8435 Email: info@lotuscreek.ca Website: www.lotuscreek.ca Mitchell Harris Vice [Read more]
The CBSA launches an investigation into the alleged dumping of oil and gas well casing from Austria
OTTAWA, ON, Feb. 5, 2026 /CNW/ - On February 2, 2026, the Canada Border Services Agency (CBSA) initiated an investigation into whether certain oil and gas well casing is being sold in the Canadian market at unfair prices (dumping). The investigation focuses on imports from steel producers operating in or exporting from Austria. These practices, if confirmed, may distort fair competition and impact Canadian producers. The CBSA's investigation follows a complaint filed by Tenaris Canada (the [Read more]
Rival bidders pursue Lukoil assets despite Carlyle deal, sources say
Chevron is one of at least two companies vying for Lukoil’s global assets, despite the Russian energy company's initial agreement last week to sell them to U.S. private equity firm Carlyle, four sources familiar with the conversations said. Lukoil has until February 28 to sell the assets, the latest deadline set by the U.S. Treasury, which imposed sanctions on Lukoil and Rosneft last year to push Moscow to agree a peace deal with Ukraine. A partnership between Chevron and Texas-based [Read more]
Global electricity demand surge forecast by IEA
Global electricity demand growth is expected to ramp up by more than 3.5% per year on average over the rest of the decade while renewable energy and nuclear power are expected to make up nearly half of all power production, the International Energy Agency said in a report on Friday. Here are some details: * Demand growth is expected to come from electrification of industries, the continuing rollout of electric vehicles and data centres as well as increased demand from cooling, with [Read more]
Discount on Western Canada Select widens
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Thursday. WCS for March delivery in Hardisty, Alberta, settled at $15.25 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $15.15 a barrel on Wednesday. * The discount on Canadian heavy crude widened approximately $1 per barrel over the month of January in the wake of heightened market volatility caused by U.S. President Donald Trump's [Read more]
South Bow Announces Timing of Fourth-quarter and Year-end 2025 Results and Conference Call and Webcast
CALGARY, Alberta, Feb. 05, 2026 (GLOBE NEWSWIRE) -- South Bow Corp. (TSX & NYSE: SOBO) (South Bow or the Company) will release its fourth-quarter and year-end 2025 financial and operational results after the close of markets on March 5, 2026. Conference call and webcast details South Bow's senior leadership will host a conference call and webcast to discuss the Company's fourth-quarter and year-end 2025 results on March 6, 2026 at 8 a.m. MT (10 a.m. ET). Date March 6, [Read more]
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