CALGARY, AB, May 29, 2026 /CNW/ - Westgate Energy Inc. ("Westgate" or the "Company") (TSXV: WGT), is pleased to announce the filing of its unaudited financial and operating results for the three months ended March 31, 2026. The selected financial and operating information provided below should be read in conjunction with Westgate's unaudited consolidated financial statements and related management's discussion and analysis ("MD&A") for the three months ended March 31, 2026 and [Read more]
News
South Bow targets 2027 decision on Canada-US oil pipeline revival
Canada's South Bow will decide whether to proceed with its proposed partial revival of the Keystone XL oil pipeline by mid-2027, the company said on Friday, as it announced it has secured the shipper commitments it was seeking to advance the project. The proposed 550,000-barrel-per-day Alberta-to-Wyoming pipeline, dubbed Prairie Connector, could increase Canada's crude exports to the U.S. by 12%, adding much-needed Canadian pipeline capacity. South Bow, working with U.S. partner Bridger [Read more]
US drillers add oil, natural gas rigs for sixth straight week, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for a sixth straight week, for the first time since May 2022, 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 four to 562 in the week to May 29, its highest since May 2025. Despite this week's rig increase, Baker Hughes said the total count was still down one rig from this time last year. Baker Hughes said oil rigs rose by [Read more]
Record-low U.S. shale well backlog curbs fast output gains amid export surge
U.S. shale producers have the lowest stock of drilled-but-uncompleted wells on record, limiting their ability to move quickly to boost crude output and replace rapidly depleted oil inventories after exports and refinery processing jumped to plug the shortfall in supply caused by the U.S.-Israeli war on Iran. Producers in the United States have increased exports to Asia and Europe since the conflict began and Iran effectively shut the Strait of Hormuz, bottling up most Middle Eastern oil [Read more]
Trans Mountain Reports Q1 2026 Results
All financial figures are in Canadian dollars, unless noted otherwise. Calgary, Alberta--(Newsfile Corp. - May 29, 2026) - Trans Mountain Corporation ("Trans Mountain" or TMC" or "the Company") today announced its financial and operating results for the first quarter of 2026. "Trans Mountain continues to play an important role in moving Canadian crude oil to global markets," said Mark Maki, Chief Executive Officer of Trans Mountain. "In the first quarter, we delivered an average [Read more]
Economists pour cold water on recession talk after Canada’s economy stalls in Q1
OTTAWA - Canada's economy is still struggling to grow but some economists weighing in on the latest real gross domestic product results Friday argued that weakness may not qualify as a recession. StatCan reported Friday that the economy stalled in the first quarter of the year. While real GDP by expenditure was flat on a quarter-by-quarter basis, converting that to an annualized rate — the figure most economists pay close attention to — magnifies the quarterly changes and results in a [Read more]
Political understanding between Iran and US not yet finalised, Iranian source says
A political understanding has been reached between Iran and the United States over the Iran war, but it has not yet been finalised, a senior Iranian source told Reuters on Friday. The source said U.S. Donald Trump's claim that uranium would be unearthed by the U.S. was not true, adding that the possible memorandum of understanding between Tehran and Washington does not include any nuclear-related issues. (Reporting by Parisa Hafezi; Editing by Aidan Lewis) [Read more]
US crude production largely steady on the month in March, EIA says
U.S. crude production was largely steady in March at 13.7 million barrels per day, according to the Energy Information Administration on Friday. Crude production in Texas fell to 5.78 million bpd, marking a four-month low, while output in neighboring New Mexico was steady on the month at 2.31 million bpd. Texas and New Mexico are home to the prolific Permian Basin, which accounts for roughly half of U.S. crude output. U.S. crude production is expected to have risen since March, however, [Read more]
Chevron Names New General Counsel
R. Hewitt Pate to retire after 17 years with the company Scott A. Keller named general counsel HOUSTON--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today announced the appointment of Scott A. Keller as general counsel. Keller, 44, will join Chevron on July 1 as general counsel, and will report to Chevron’s current chief legal officer, R. Hewitt Pate, in anticipation of Pate’s expected retirement in mid-2027 after 17 years of service. Upon his expected appointment to the position [Read more]
Chevron won’t pay toll to move ships through Hormuz, CEO tells Bloomberg TV
U.S. oil and gas major Chevron will not consider paying a toll to move ships through the Strait of Hormuz, CEO Mike Wirth told Bloomberg TV on Friday. Wirth also said several vessels that transit through the Strait of Hormuz have been attacked in recent days. Perhaps not every day, but there have been "multiple incidents," he said. Chevron currently has six vessels under charter - belonging to a third party - in the waterway, Wirth said. It will be the ship owner who decides whether or [Read more]
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