The rise in oil prices is slowing economic growth everywhere, the chief executive of UAE state-run energy giant ADNOC said on Monday. "Stability in energy markets underpins security in every market," ADNOC CEO Sultan Al Jaber said in a video speech to attendees at the CERAWeek energy conference in Houston. "Energy security is the difference between lights on and lights off." The U.S.-Israeli war on Iran has led to the effective shutdown of a fifth of oil and gas supplies through the [Read more]
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Oil prices have not climbed enough to cause demand destruction, US Energy Secretary Chris Wright says
Global oil prices have not climbed enough to cause demand destruction, U.S. Energy Secretary Chris Wright said on Monday at the CERAWeek energy conference in Houston, Texas, even as markets continued to gyrate and global oil prices remained over $100 a barrel due to the U.S.-Israel war on Iran. Wright's remarks come amid one of the worst energy crises in decades following the closure of a key shipping channel and attacks on energy infrastructure in the Middle East that have sustained [Read more]
Trump says US has ‘major points of agreement’ in talks with Iran
President Donald Trump on Monday told reporters the United States has held talks with Iran and that the two sides had "major points of agreement." Trump said the conversations that took place on Sunday would to continue on Monday and that if the negotiations continued productively, there would be a deal very soon. Trump added that his Middle East envoy Steve Witkoff and son-in-law Jared Kushner held the talks. Earlier Trump said he had given orders to postpone any military strikes [Read more]
Forden Energy Inc. and 2150865 Alberta Ltd. – Receivership Sale
On February 2, 2026, pursuant to section 13(2) of the Judicature Act, RSA 2000, c.J-2, PricewaterhouseCoopers Inc. LIT was appointed receiver and manager (the “Receiver”) of Forden Energy Inc. and 2150865 Alberta Ltd. (collectively the “Companies”). Sayer Energy Advisors has been engaged to assist the Receiver with a sale of the Companies’ oil and natural gas properties (the “Properties”) located in Alberta. The Properties are located in the Crystal, Ferrybank, Kaybob and Sullivan Lake areas [Read more]
Iran’s Tasnim, citing official, says Hormuz won’t return to pre-war conditions, no talks underway with US
Iran's Tasnim news agency, citing an Iranian official, said that the strait of Hormuz will not return to pre-war conditions and energy markets will remain unsettled, adding that no negotiations with the U.S. are under way. Tasnim said U.S. President Donald Trump backed down from attacking critical Iranian infrastructure amid financial market pressure, warning Tehran would continue to defend itself until it achieves deterrence. (Reporting by Reuters; Editing by Toby Chopra) [Read more]
Trump postpones military strikes on Iranian power plants
President Donald Trump said on Monday the U.S. has had good and productive conversations with Iran and he will order the military to postpone any military strikes against Iranian power plants and energy infrastructure for five days. Trump's move followed a threat by Iran to attack Israel's power plants and those supplying U.S. bases across the Gulf region if the U.S. targets Iran's power network. Conversations with Iran will continue throughout the week, Trump said in a social media post. [Read more]
Trump’s Iran war oil shield is cracking: Bousso
U.S. President Donald Trump went into the Iran war convinced that America’s vast oil wealth would insulate the country from the kind of energy shock now battering much of the world. Four weeks into the conflict, that shield is looking fragile. Trump’s wager has only partly paid off. U.S. oil prices have risen less sharply than those elsewhere since U.S.-Israeli air strikes against Iran on February 28 ignited a regional war that rapidly engulfed the Middle East’s energy infrastructure, blocking [Read more]
UAE’s ADNOC Gas adjusts LNG output in response to shipping disruption
The gas subsidiary of ADNOC, Abu Dhabi's state oil firm, on Monday said it made temporary adjustments to its production of liquefied natural gas and export-traded liquids in response to ongoing shipping disruption in the Strait of Hormuz. The U.S.-Israeli war on Iran escalated sharply over the weekend after President Donald Trump threatened to "obliterate" Iran's power plants in 48 hours unless Tehran fully reopens the waterway. In response, Iranian officials said if struck, they would [Read more]
ADNOC CEO to address CERAWeek virtually, will travel to Washington later this week
Abu Dhabi state oil giant ADNOC's Group CEO Sultan Al Jaber will not travel to Houston for the CERAWeek energy conference and will participate virtually before travelling to Washington D.C. for meetings, an ADNOC spokesperson told Reuters, as the Iran war upends energy markets. The gathering, which draws some of the oil and gas industry's top executives and officials, opens on Monday, at a time when global oil prices are soaring due to Iran's effective closure of the Strait of Hormuz as well [Read more]
Japan Petroleum Association eyes North America for crude supply options
Japan Petroleum Association President Shunichi Kito said on Monday that North America was one potential source for alternative crude oil supplies, with Ecuador, Colombia and Mexico cited as possible options. Oil buyers elsewhere, including from Japan, are looking for options to substitute for supplies on tankers stuck in the Gulf region due to the U.S.-Israeli war on Iran and the subsequent closure of the Strait of Hormuz. Oil prices have spiked to more than $100 per barrel as the strait, [Read more]
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