India has swung to buying Russian crude oil and coal to bolster its energy supplies after flows were disrupted and prices rose during the Iran conflict. The world's third-largest oil importer is expected to see arrivals of Russian crude surge to a record high of 2.55 million barrels per day (bpd) in June, according to data compiled by commodity analysts Kpler. June's imports from Russia would be up from the 2.13 million bpd in May, which was the third-highest on record and just behind the [Read more]
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US gasoline prices tumble for sixth straight week
Diplomacy between the U.S. and Iran has translated into relief at the pump for Americans, data showed on Monday, with gasoline prices falling for a sixth straight week and marking a 15% drop from their May peak. The national average price of gasoline fell 14.1 cents a gallon over the last week to $3.85 per gallon on Monday, according to price-tracking service GasBuddy. Prices declined in most states. Gasoline dropped 25 cents per gallon in Colorado over the past week, 22 cents in Arizona [Read more]
Alberta in talks with Japan on boosting Canadian crude imports
The government of Alberta, Canada's main oil-producing province, is in talks to export more crude oil to Japan and reduce that country's reliance on the Middle East, the province's Energy Minister Brian Jean said in an interview on Monday. Alberta has offered to help fund the construction of a coker unit that would enable one or more Japanese companies to process heavy crude produced in Alberta's oil sands, Jean said. The province also is exploring whether Alberta heavy crude could be [Read more]
Iran to establish a communication line for safe passage in Hormuz, top negotiator says
Iran's top negotiator Mohammad Baqer Qalibaf said that Tehran has agreed to have a communication line regarding ship passage in the strait of Hormuz to avoid conflict and incidents in the strategic waterway. In comments given to state TV on his way back from talks with U.S. in Switzerland on Sunday, the Iranian negotiator added that the signing for the release of $12 billion in frozen Iranian assets has been finalised in the talks. (Reporting by Elwely Elwelly, Menna Alaa El Din and [Read more]
US proposes to slash costs for energy drillers on federal lands
The Trump administration on Monday proposed looser rules for oil and gas drilling operations on federal lands, including a dramatic cut to clean-up costs for abandoned wells. The moves are aligned with President Donald Trump's goal to reduce regulations for businesses and make it easier to invest in production of domestic fossil fuels. "These targeted updates cut through the red tape that has historically deterred investment, ensuring our public lands remain a reliable engine for economic [Read more]
Oil stocks in US Strategic Petroleum Reserve fall to lowest since 1983
Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell to 331.2 million barrels last week, the lowest level since June 1983, according to data from the Department of Energy, as supplies continued to tighten in the fallout of the U.S.-Iran war. Inventories in the government's emergency stash fell by 9.05 million barrels, the third steepest draw on record. The drawdowns are a part of a U.S. agreement to release 172 million barrels from the facility to help push down fuel [Read more]
ExxonMobil Announces Planned Effective Date for Move to Texas
SPRING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation today announced that its redomiciliation from New Jersey to Texas is expected to become effective on July 1, 2026. As part of this change, ExxonMobil Holdings Corporation will become the publicly traded parent company, replacing Exxon Mobil Corporation of New Jersey. Shares will continue to trade on the New York Stock Exchange under the ticker symbol “XOM,” and shareholders are not required to take any action. Shareholders approved [Read more]
US authorizes Iranian oil sales amid talks on final peace deal
The United States authorized Iranian oil sales on Monday, easing decades-old sanctions as it pushes toward a final peace deal with Tehran in return for commitments on nuclear inspections and free transit through the Strait of Hormuz. The general license, announced by the Treasury Department, allows the sale of crude oil and petrochemical and petroleum products of Iranian origin through August 21. The license says Iranian oil can be imported into the U.S. when necessary to complete its [Read more]
Keyera Announces Closing of $1.0 Billion Senior Notes and $604 Million Bought-Deal Equity Offerings and Exercise of Over-Allotment Option
/Not for distribution to U.S. newswire services or for dissemination in the United States./ CALGARY, AB, June 22, 2026 /CNW/ - Keyera Corp. ("Keyera" or the "Company") (TSX: KEY) today announced that it has completed its previously announced offering (the "Note Offering") of $1.0 billion aggregate principal amount of senior unsecured notes (the "Notes") and bought deal public offering (the "Equity Offering" and together with the Note Offering, the "Offerings") of [Read more]
Chevron Signs 20-Year Power Agreement with Microsoft for West Texas Data Center
HOUSTON--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today announced that Energy Forge One LLC, a wholly owned subsidiary, has signed an agreement with Microsoft Corp. (NASDAQ: MSFT) to develop a co-located power facility in West Texas that will provide dedicated electricity to a Microsoft-operated data center under a 20-year power purchase agreement. Chevron and Engine No. 1 have been collaborating on the development, known as Project Kilby (“Kilby”). Kilby is expected to deliver [Read more]
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