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The United Arab Emirates said on Tuesday it was quitting OPEC and OPEC+, dealing a heavy blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the Iran war has caused a historic energy shock and unsettled the global economy. The loss of the UAE, a longstanding OPEC member, could create disarray and weaken the group, which has usually sought to show a united front despite internal disagreements over a range of issues from geopolitics to production [Read more]

Kimmeridge on Tuesday urged shale producer Devon Energy's incoming board to swiftly pursue asset sales, improve capital allocation and revamp executive pay to boost shareholder returns after its merger with Coterra Energy closes. Investment firm Kimmeridge, a well-known activist investor in the energy sector, holds about a 1.4% stake in Devon, according to LSEG data. Kimmeridge said the combined company risks a "conglomerate discount" unless it streamlines its business and focuses on [Read more]

NEW YORK, April 28, 2026 /PRNewswire/ -- Kimmeridge, a private investment firm focused on the energy sector, today released an open letter to the future Board of Devon Energy ahead of the closing of its merger with Coterra (CTRA), expected on May 4th, 2026. "The merger of Devon and Coterra represents a compelling strategic combination that brings together high-quality assets, operational scale and the potential for durable free cash flow," said Mark Viviano, Managing Partner at Kimmeridge. [Read more]

BP on Tuesday posted a first-quarter underlying replacement cost profit, its version of net income, of $3.2 billion, compared with expectations of $2.67 billion in a company-provided poll of analysts and $1.38 billion a year ago. BP's customers and products business, including its oil trading desk which BP had already flagged as having an exceptionally strong quarter, beat expectations with a $3.2 billion profit before interest and tax, compared with an average analyst estimate of $2.5 billion. [Read more]

Dissonance between record-high stocks and a geopolitical shock puzzles many, and a common narrative is that investors are "seeing through" the Iran conflict. But there's another take: this is just the sort of world we're now stuck in, and blow-by-blow events matter less than mega-trends and long horizons. In an event-packed week like this, arguments cut both ways. Sky-high oil prices are real and do matter - but they could, and have, also dropped 15% to 20% in an hour in this frenetic war [Read more]

Calgary, Alberta--(Newsfile Corp. - April 27, 2026) - Lotus Creek Exploration Inc. (TSXV: LTC)("Lotus Creek" or the "Company") is pleased to announce that the nominees listed in the Company's management information circular dated March 13, 2026 were elected as directors of Lotus Creek at its annual meeting of shareholders (the "Meeting") held today, April 27, 2026. In addition, all other matters considered at the Meeting were approved by Lotus Creek's shareholders. On a vote by ballot, [Read more]

Prime Minister Mark Carney announced the creation of the country's first-ever sovereign wealth fund on Monday, called the Canada Strong Fund. Carney pitched the new fund as a way for Canadians to invest in nation-building projects in areas that include energy, infrastructure, mining, agriculture and technology. Here's what you need to know about sovereign wealth funds and how they operate. What is a sovereign wealth fund? A sovereign wealth fund is a state-owned investment vehicle. [Read more]