BOE Report

News

Oil supply shock to worsen as inventories fall further even if conflict ends

0 Comments

Oil supplies are set to tighten further in coming weeks even if the U.S. and Iran agree on a peace deal to end their war because it will take weeks for oil shipments to resume from the Middle East Gulf and reach refiners worldwide - so oil companies will continue to deplete storage tanks to meet peak summer demand. The world has used temporary buffers - commercial stockpiles, oil in transit or held in storage at sea and emergency reserves - to offset the shock from the war in the Middle East. [Read more]

European Commission weighs suspending methane fines during energy emergencies, FT reports

0 Comments

The European Commission is considering suspending methane emissions penalties during energy supply crises after pressure from the United states and the fossil fuel industry to dilute rules on leaks of the greenhouse gas, the Financial Times reported on Wednesday. The Commission plans to roll out new rules on monitoring, reporting and verification for methane leaks and flaring tied to fossil fuel imports next year, the newspaper said, adding that the Middle East crisis has prompted calls to [Read more]

Suncor ratcheting up output of diesel, jet fuel to meet surging global demand

0 Comments

CALGARY - Suncor Energy Inc. is sending high-demand products like jet fuel and diesel from its Canadian refineries to a variety of far-flung global destinations as strife in the Middle East continues to squeeze supplies. In March, the Calgary-based oilsands producer, oil refiner and fuel retailer made sales in the Philippines and Puerto Rico, "both at significant premiums to market pricing," chief financial officer Troy Little told analysts on a conference call Wednesday. "We have spent [Read more]

NextDecade sees Middle East conflict boosting long-term LNG ship charters

0 Comments

Ongoing conflict in the Middle East and other disruptions will lead to more companies hiring LNG ships under long-term contracts rather than on the spot market, NextDecade shipping vice president Peter Fitzpatrick said on Wednesday at an event in Houston. The LNG industry became comfortable with hiring ships on the spot market when there was an oversupply of the fuel, with very few long-term deals done in 2024 and 2025, Fitzpatrick said. The market, however, is beginning to realize there will [Read more]

US says airline jet fuel costs jumped $1.8 billion or 56% in March

0 Comments

Major U.S. passenger airlines spent just over $5 billion on jet fuel in March, up $1.8 billion or 56% from what they spent in February, the U.S. Transportation Department said on Wednesday. The cost per gallon of fuel in March was $3.13, up 74 cents, and 31% over February. Fuel use rose 20% in March, USDOT added. Since the U.S.-Israeli war with Iran began, disruptions to shipping through the Strait of Hormuz have roiled global oil markets. Surging jet fuel prices have created the air [Read more]

International Petroleum Corporation Announces 2026 Annual General Meeting Voting Results

TORONTO, May 06, 2026 (GLOBE NEWSWIRE) -- International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce the voting results from the Corporation’s 2026 Annual General Meeting of Shareholders held on May 6, 2026 in Calgary, Alberta.  Number of Directors The number of Directors of the Corporation was set at eight. Votes For % For Votes Against % Against 61,039,794 99.96 26,566 0.04 Election of [Read more]

Coelacanth Energy Announces Completion of its $80 Million Bought Deal Financing

  /THIS PRESS RELEASE IS NOT FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./ CALGARY, AB, May 6, 2026 /CNW/ - Coelacanth Energy Inc. (the "Company" or "Coelacanth") (TSXV: CEI) is pleased to announce that, further to its press releases dated April 16, 2026, and April 17, 2026, it has closed its previously announced bought deal financing (the "Bought Deal Financing") pursuant to [Read more]

Suncor Energy declares dividend

All financial figures are in Canadian dollars. Calgary, Alberta--(Newsfile Corp. - May 5, 2026) - Suncor Energy's (TSX: SU) (NYSE: SU) Board of Directors has approved a quarterly dividend of $0.60 per share on its common shares, payable June 25, 2026 to shareholders of record at the close of business on June 4, 2026. Suncor Energy - Canada's leading integrated energy company Suncor's operations span the full energy value chain, including oil sands mining and in situ operations, [Read more]

Vermilion Energy Inc. Announces $0.135 CDN Cash Dividend for June 30, 2026 Payment Date

  CALGARY, AB, May 6, 2026 /CNW/ - Vermilion Energy Inc. ("Vermilion") (TSX: VET) (NYSE: VET) is pleased to announce a cash dividend of $0.135 CDN per common share, payable on June 30, 2026 to all shareholders of record on June 15, 2026. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). About Vermilion Vermilion is a global gas producer that seeks to create value through the acquisition, exploration and development of liquids-rich [Read more]

US crude stocks, gasoline and distillate inventories fall, EIA says

0 Comments

U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.3 million barrels to 457.2 million barrels in the week ended May 1, the EIA said, compared with analysts' expectations in a Reuters poll for a 3.3 million-barrel draw. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 648,000 barrels in the week, the EIA said. Refinery crude runs fell by 42,000 barrels per day in the week, [Read more]