Blackstone is in talks to sell its Beacon Offshore Energy, which operates oil and gas assets in the U.S. Gulf of Mexico for more than $5 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter. The asset manager has begun early talks with investment banks about a possible listing of the company as soon as the first quarter, the report said. The Houston-based company is likely to draw interest from major Gulf of Mexico producers, the people said. Beacon [Read more]
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Fate of Bay du Nord oilfield in Newfoundland still unclear as Equinor delays deadline
ST. JOHN'S - Equinor has delayed a deadline to decide whether it will proceed with its proposed Bay du Nord offshore oilfield in Newfoundland and Labrador, as it hammers out a benefits agreement with the province. The Norwegian energy company says the status deadline initially set for December has been adjusted to allow time for the province's Progressive Conservative government to settle in after winning the October election. News of the delay was first reported by allNewfoundlandLabrador [Read more]
Ovintiv to Host its 2025 Fourth Quarter and Year-End Results Conference Call and Webcast on February 24, 2026
DENVER, Jan. 20, 2026 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its 2025 fourth quarter and year-end results conference call at 8:00 a.m. MT, on Tuesday February 24, 2026. The Company plans to release its financial and operating results after market close, Monday February 23, 2026. In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com. To join the conference call [Read more]
Kazakhstan’s Tengiz oil field to stay shut for another 7-10 days, sources say
Oil production at Kazakhstan's vast Tengiz oil field, one of the world's largest, could be halted for another 7-10 days after shutting down on Sunday, cutting crude exports via the Caspian Pipeline Consortium, three industry sources told Reuters. The field's operator Tengizchevroil (TCO) said on Monday that due to power supply problems, production at the Tengiz and Korolevskoye field had been stopped. A day earlier, on January 18, a fire broke out at two turbine transformers at the field's [Read more]
US natgas futures soar 27% to 3-week high on frigid weather forecasts, short covering
U.S. natural gas futures soared 27% to a three-week high on Tuesday on forecasts for much colder weather and higher heating demand over the next two weeks than previously expected that forced some traders to cover short positions. After falling to a 13-week low before the long Martin Luther King Jr. holiday weekend, front-month gas futures for February delivery on the New York Mercantile Exchange (NYMEX) jumped 82.9 cents, or 26.7%, to $3.932 per million British thermal units (mmBtu) on [Read more]
Parex Resources Announces Approval of Normal Course Issuer Bid and Automatic Share Purchase Plan
CALGARY, Alberta, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce that the Toronto Stock Exchange ("TSX") has approved the Company commencing a normal course issuer bid ("Bid"). Pursuant to the Bid, Parex will purchase for cancellation, from time to time, as it considers advisable, up to a maximum of 9,407,490 common shares of the Company ("Common Shares"). The Bid will commence on January 22, 2026, and will terminate on [Read more]
Trump’s embrace of oil industry is turning into an awkward grip: Bousso
President Donald Trump has lavished the U.S. oil industry with favourable policies since returning to the White House, but his twin demands for cheap oil and “energy dominance” are increasingly colliding with companies’ bottom lines. Over the past year, the Republican president has rolled out numerous pro-fossil fuel measures and offered strong support for U.S. oil firms abroad, a sharp departure from his Democratic predecessor Joe Biden’s focus on combating climate change. Within hours of [Read more]
Donald Trump’s determination spells trouble for US dollar
Donald Trump's determination spells trouble for the U.S. dollar, as he is likely to get what he wants: lower interest rates, which would further undermine a currency already pressured by his ambitions. Since he returned to power, the dollar has lost value during a trade war he started, a conflict that has broadened as the United States has assumed control of Venezuela's vast oil resources and seeks to take ownership of Greenland. Rather than spurring demand for the global reserve currency, as [Read more]
Oil buoyed by weaker dollar while investors eye Greenland developments
Oil prices edged up on Tuesday, bolstered by a weaker dollar, while markets watched President Donald Trump's threats of higher U.S. tariffs on European nations over his desire to buy Greenland. Brent futures rose 15 cents, or 0.2%, to $64.09 a barrel at 0430 GMT. The U.S. West Texas Intermediate crude contract for February, which expires on Tuesday, was up 14 cents, or 0.2%, to $59.58. The more actively-traded WTI March contract gained 6 cents, or 0.1%, to $59.40. WTI contracts did not [Read more]
China’s December crude imports from UAE, Brazil, Canada hit record highs
* China's crude oil imports from top supplier Russia fell 0.7% year-on-year in December to 9.33 million metric tons, or 2.2 million barrels per day, but hit the highest level for 2025. * Imports from Malaysia, the largest trans-shipment hub for sanctioned Iranian oil, fell 37.9% to 4.14 million tons, or 0.97 million bpd. * Imports from Indonesia stood at 2.19 million tons, or 0.52 million bpd, last month, down 13% from 2.52 million tons in November. China imported around 0.1 million tons [Read more]
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