Attacks on Saudi Arabia by Yemen's Iran-aligned Houthis this week have frustrated Pakistan and threaten to draw Islamabad into the conflict, complicating any future role it may have as a mediator between the United States and Iran. Nuclear-armed Pakistan, which helped broker an interim deal last month in the war between Washington and Tehran, signed a mutual defence agreement with Saudi Arabia last year and thousands of Pakistani soldiers have been deployed to the kingdom, alongside a squadron [Read more]
News
Houthi leader threatens Saudi oil facilities if Riyadh escalates in Yemen
Yemen's Houthi leader Abdul Malik al-Houthi said on Thursday that all Saudi oil and other vital facilities would be targets for the group's missiles and drones if Riyadh escalated its involvement in the conflict. The warning came after the Houthis fired missiles at Saudi Arabia, accusing the kingdom of bombing an airport under their control on Monday, marking a rupture in a four-year truce between the two sides. The Iran-aligned Houthis have previously targeted Saudi energy infrastructure. [Read more]
US EIA reviews crude storage limits after Iran war drains Cushing inventories
The U.S. Energy Information Administration said on Thursday it was reviewing the results of a pilot study to better understand minimum working crude oil inventory for some storage hubs at Cushing, Oklahoma, after stocks reached levels that may constrain normal operations. Cushing, the delivery point for U.S. West Texas Intermediate (WTI) crude futures, is one of the world's largest oil storage hubs. Stock levels at the site are closely watched because they directly influence WTI prices and [Read more]
Liquefied Natural Gas Set to Become United States’ 2nd Largest Net Export Industry within Five Years, S&P Global Energy Study Finds
Growth of U.S. LNG exports now expected to support 555,000 jobs annually and add $1.4 trillion to GDP through 2040 while domestic natural gas prices will remain among lowest in the world WASHINGTON, July 16, 2026 /PRNewswire/ -- Growing exports of U.S. liquefied natural gas (LNG) are now on track to support 550,000 jobs annually and contribute $1.4 trillion to U.S. gross domestic product through 2040--exceeding previous expectations--while having a negligible impact on domestic gas prices, [Read more]
Iran tells Houthis to close Red Sea gateway if US hits power network, sources say
Iran has asked Yemen’s Houthi movement to stand ready to close the Red Sea oil route if the United States strikes Iranian power infrastructure, three sources told Reuters on Thursday, posing a potent new threat to global energy supplies. The idea has been discussed within the Islamic Republic's leadership, and the message has been conveyed to Iran's Houthi allies, two senior Iranian sources and a regional source familiar with the matter said, speaking on condition of anonymity. The sources [Read more]
Oil & Gas Production & Joint Venture Accounting: Why Accuracy Protects Value
In Western Canada’s oil and gas sector, joint ventures are a common operating model. Multiple partners share ownership of wells, facilities, and infrastructure, with one party responsible for operating the asset and allocating costs to the remaining partners. This partnership enables efficient development and risk sharing, but it also introduces a critical challenge: ensuring that joint venture accounting and cost allocations align with the contractual agreements. For non-operating [Read more]
Northbase Finance Closes Capital Partnership with Oaktree to Support Equipment Financing Platform
Calgary, Alberta – July 15, 2026. Northbase Finance Inc. (“Northbase” or the “Company”) is pleased to announce the closing of a revolving credit facility with Oaktree through its Asset-Backed Finance strategy, providing up to US$300 million in scalable financing capacity. The facility will support the continued expansion of Northbase’s North American equipment financing platform, focused on critical operating assets across power generation, compression, energy transformation infrastructure and [Read more]
China’s oil fortress will reshape the global order: Bousso
China caught the oil industry by surprise during the Iran war, pulling powerful levers to shield itself from the biggest energy shock in decades. In the process, it established itself as a new force in global energy markets – an independent, opaque, massive power. The measures China used to offset the energy supply shock — sharply cutting crude imports, restricting exports of refined fuels and drawing on domestic inventories — culminated in a decades-long campaign to reduce its heavy dependence [Read more]
First U.S. LNG cargo since tariff dispute reaches China, may be re-exported
A cargo of U.S. liquefied natural gas has arrived at a Chinese terminal for the first time since trade tensions between Washington and Beijing effectively halted direct shipments, vessel-tracking data showed, though it may never enter China as the terminal's bonded storage facilities allow re-exports without import duties. Carrying a cargo loaded in early June from U.S. energy firm Venture Global LNG's Plaquemines export plant in Louisiana, the Al Fat'h LNG tanker arrived at the PipeChina [Read more]
Oil prices rise for 4th day as US strikes on Iran raise fears of wider conflict
Oil prices rose for a fourth straight day on Thursday after a new wave of U.S. strikes on Iranian military installations fuelled fears of renewed full-scale conflict and supply disruptions in the Strait of Hormuz. The United States struck Iran's coastal defences and missile sites on Wednesday after reimposing a naval blockade of its ports, while Iran threatened to shut off more regional energy exports, saying it was engaged in an "existential war" with America. Brent crude futures climbed [Read more]
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