The current oil supply crisis shows there is underinvestment in oil refining as demand holds resilient, Saudi state-owned Aramco's vice president of market analysis and sustainability, Musaab Al Mulla, said on Tuesday. Around 3 million barrels per day of refining capacity closed between 2020 and 2023, Al Mulla said at the S&P Global Energy Middle East Petroleum and Gas Conference in London. "Now we realise if you have those refineries you may have definitely mitigated the impacts of [Read more]
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Norway oil, gas output could initially fall by 1% in case of strike, industry says
Norway's oil and gas output could initially fall by about 45,500 barrels of oil equivalent per day from Friday if workers go on strike, equivalent to just over 1% of the country's output, industry group Offshore Norway said on Wednesday. Nearly 8% of Norwegian offshore oil and gas workers plan to strike from June 5 if state-brokered wage mediation fails in the coming days, with the option to escalate the action over time, three labour unions have said. Norway produces more than 4 million [Read more]
Indigenous participation, engagement key to economic growth in Canada, report says
A new report says boosting economic relations with Indigenous partners and incorporating their world views in business decision-making can help position Canada for a more resilient economic future. The report, published Wednesday by Deloitte's Future of Canada Centre, explores how sovereign Indigenous economic partnerships are among Canada's most underleveraged growth opportunities. "As Canada grapples and comes to terms with a very challenging economic and global restructuring, Indigenous [Read more]
Oil prices rise as new Middle East hostilities flare and talks stall
Oil prices climbed more than 1% in early trade on Wednesday as hostilities in the Middle East erupted anew with Iran firing missiles at Kuwait and Bahrain, while diplomatic talks between Iran and the United States showed little progress. Brent futures rose $1.05, or 1.09%, at $97.05 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.01, or 1.08%, to settle at $94.77. Both benchmarks settled at a one-week high in the previous session. Iran launched ballistic missiles toward [Read more]
Highwood Asset Management Ltd. announces sale of Wilson Creek assets
/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/ CALGARY, AB, June 2, 2026 /CNW/ - Highwood Asset Management Ltd. ("Highwood" or the "Company") (TSXV: HAM) is pleased to announce it has entered into a definitive asset purchase and sale agreement (the "Agreement") to sell its Wilson Creek assets (the "Assets") to Obsidian Energy Ltd. ("Obsidian Energy") for up to $112 million (the "Transaction"). Under the terms of the Agreement, Obsidian Energy will acquire [Read more]
Obsidian Energy Announces Strategic Belly River Acquisition
Calgary, Alberta--(Newsfile Corp. - June 2, 2026) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announced today the acquisition of high-return Belly River light oil assets in the Wilson Creek area of Willesden Green (the "Acquisition"), consolidating the Company's position as the largest Belly River producer and deepening our core light oil development platform. The transaction is immediately accretive to funds flow from operations [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Jun. 2 Gas Plant Operator (15/13, camp) Roska DBO Fort St John Jun. 2 Plant Operator Roska DBO Grande Prairie Jun. 1 Intermediate/Senior Environmental [Read more]
Yangarra Resources Ltd. Announces Expanded 2026 Capital Program and Increased Credit Facility
CALGARY, Alberta, June 02, 2026 (GLOBE NEWSWIRE) -- Yangarra Resources Ltd. (TSX:YGR) ("Yangarra" or the "Company") today announced a meaningful expansion of its 2026 capital program and an increase to its syndicated credit facility, reflecting strong early performance from its redesigned Belly River development program and positioning the Company for enhanced oil weighting on production, stronger cash flow generation, and sustained value creation. Operations Update Yangarra continues to [Read more]
Petrus Resources Declares Monthly Dividend for June 2026
CALGARY, Alberta, June 02, 2026 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to confirm that its Board of Directors has declared a monthly dividend in the amount of $0.01 per share payable June 30, 2026, to shareholders of record on June 16, 2026. The dividend is designated as an eligible dividend for Canadian income tax purposes. Dividend Reinvestment Plan ("DRIP") Petrus' DRIP enables eligible shareholders to reinvest all or part of their cash [Read more]
Peyto Exploration & Development Corp. and Centrica Energy Enter 10-Year Natural Gas Supply Agreement
CALGARY, Alberta, June 02, 2026 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (TSX: PEY) ("Peyto" or the "Company") is pleased to announce the signing of a long-term natural gas supply agreement with Centrica Energy. Under the agreement, Peyto will deliver 50,000 MMBtu of natural gas per day to Centrica Energy over a 10-year period commencing in 2029. Deliveries will be made at the NIT "AECO" hub operated by TC Energy in Alberta. The gas will be priced against the Title [Read more]
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