OTTAWA - Prime Minister Mark Carney says a new oil pipeline out of Alberta is "more likely than not." In his first sit-down interview with The Canadian Press since becoming prime minister more than a year ago, Carney said Friday that given the increased global demand for secure new sources of energy due to the war in Iran, and Canada's need to diversify to Asian markets, a new pipeline is "more probable than possible." "It's all part of a bigger package. We're making progress on that [Read more]
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‘Ash, smoke and flames everywhere’: Memories of the 2016 Fort McMurray wildfire
FORT MCMURRAY - A massive wildfire quickly spread into the oilsands city of Fort McMurray, Alta., on May 3, 2016. It forced more than 90,000 people out of the region, damaged or levelled 2,500 homes and scorched nearly 5,900 square kilometres of forest. Its cause remains unknown, but officials have said it rapidly grew due to an unusually dry and hot summer. It left a mark on many people in the city. Here are some of their memories of the day the fire known as The Beast came to [Read more]
US LNG exports to Asia surged in April as Middle East conflict curtailed supply
U.S. exports of liquefied natural gas to Asia jumped in April, with American producers helping offset reduced supplies from Middle Eastern exporters as the Iran war curtailed output in the region, preliminary ship-tracking data from financial firm LSEG showed. Nearly a quarter of all U.S. LNG exports went to Asia during the month, marking a sharp increase since the conflict began in late February and underscoring the growing role of the U.S. as a swing supplier amid elevated prices and [Read more]
Owners of WildFire Energy explore $4 billion-plus sale of US shale operator, sources say
Investment firms Warburg Pincus and Kayne Anderson are exploring a potential sale of WildFire Energy, with any deal expected to value the U.S. shale operator at more than $4 billion including debt, people familiar with the matter said. The move comes at a time when crude prices have surged, with U.S. benchmark oil back above $100 per barrel this week, due to the conflict in the Middle East. While the disruption to energy markets, and the wider global economy, is substantial, the value of energy [Read more]
Yangarra Announces Voting Results from the Annual Meeting
CALGARY, Alberta, May 01, 2026 (GLOBE NEWSWIRE) -- Yangarra Resources Ltd. ("Yangarra" or the "Corporation") (TSX:YGR) announces the voting results from its Annual Meeting of shareholders held in Calgary, Alberta on May 1, 2026 (the “Meeting”). Each of the matters voted on at the Meeting is outlined in the Information Circular dated March 25, 2026 and is available on SEDAR+ (www.sedarplus.ca). The voting results for each matter presented at the Meeting are below: Fixing Number of Directors A [Read more]
US drillers add oil and gas rigs for second week in a row, says Baker Hughes
U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since mid-March, 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 three to 547 in the week to May 1, its highest since early April. Despite this week's rig increase, Baker Hughes said the total count was still down 37 rigs, or 6% below this time last year. Baker Hughes said oil rigs rose [Read more]
Trump expands U.S. sanctions on Cuban government
President Donald Trump on Friday signed an executive order broadening U.S. sanctions against the Cuban government, two White House officials told Reuters, as he seeks to put more pressure on Havana after ousting Venezuela's leader from power. The fresh sanctions target people, entities and affiliates that support the Cuban government's security apparatus or are complicit in corruption or serious human rights violations, the officials said, as well as agents, officials or supporters of the [Read more]
Asian LNG prices rise as Qatar supply stays tight and Iran conflict drags
Asia spot liquefied natural gas (LNG) prices rose this week as efforts to end the Iran war remained at an impasse, while extended force majeure on Qatari volumes supported prompt markets. The average LNG price for June delivery into north-east Asia was estimated at $17.80 per million British thermal units (mmBtu), industry sources said, up from $16.70/mmBtu last week. "Until we see a diplomatic resolution or more meaningful draws going into cooling season, we can expect range bound [Read more]
Venezuela’s oil exports jump to highest since 2018, with more sales to US, India
Venezuela's oil exports rose 14% to 1.23 million barrels per day in April, the highest in more than seven years, fueled by more sales to the United States, India and Europe, shipping data and documents from state company PDVSA showed on Friday. The South American country has been draining oil inventories and recovering crude output in recent months following the U.S. capture of President Nicolas Maduro in January, which led to a flagship supply pact between the governments of U.S. President [Read more]
Investors are running out of time to brace for true oil shock
In thrall to an AI boom that has sent stocks to record highs and harbouring hopes of a short-lived Iran war, investors have yet to prepare for a doubling of physical oil prices. The window to do so may soon be closing. There are plenty of reasons for market confidence, largely centred on the artificial intelligence galaxy of hyperscalers, semiconductor makers and software developers and robust earnings growth. The S&P 500 hit fresh record highs on Thursday. While price pressures are [Read more]
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