A surge of U.S. crude oil is arriving in Asia, but the record volumes are nowhere near enough to offset the loss of cargoes from the effective closure of the Strait of Hormuz. Asia's imports of U.S. crude were 63.56 million barrels in May, the most for a single month although at 2.05 million barrels per day (bpd) they were slightly behind the 2.07 million bpd from June 2023, according to data compiled by commodity analysts Kpler. However, more U.S. oil is on the way, with Kpler tracking [Read more]
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Separatism and energy: Alberta’s Smith to meet with counterpart in Quebec this week
CALGARY - Alberta Premier Danielle Smith is planning to meet with her counterpart in Quebec City this week, with separatism and energy possible topics of discussion. Speaking at an unrelated news conference in Calgary, Smith was asked about her upcoming visit with Quebec Premier Christine Fréchette and expectations to talk about an east-west energy corridor. "I have told the previous premier every time I met with them that I talked to them about developing their own substantial natural gas [Read more]
Discount on Western Canada Select narrows
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures narrowed on Monday. WCS for July delivery in Hardisty, Alberta settled at minus $12.50 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with minus $15.30 in mid-May. * The WCS differential has been volatile since the start of the Iran conflict and the effective closure of the Strait of Hormuz, which has sharply reduced crude exports from the region and [Read more]
PrairieSky Receives TSX Approval for Renewed Normal Course Issuer Bid
CALGARY, Alberta, June 01, 2026 (GLOBE NEWSWIRE) -- PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX: PSK) is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted the notice of PrairieSky's intention to commence a normal course issuer bid (the "NCIB"). On April 20, 2026, PrairieSky announced its intention to seek TSX approval to renew its NCIB for an additional one-year period. The NCIB allows the Company to purchase up to 17,554,375 common shares which [Read more]
Obsidian Energy Increases 2026 Capital Program, Targeting 15% Production Growth in 2027
Calgary, Alberta--(Newsfile Corp. - June 1, 2026) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") provides an update to our 2026 capital program and guidance, reflecting strong operational results and an improved commodity price outlook. Highlights: Increasing 2026 capital program by ~$100 million to $300 - $325 million, targeting ~15% production growth in 2027, while generating incremental free cash flow ("FCF") [Read more]
Fluor Joint Venture Receives Limited Notice to Proceed for Proposed Phase 2 Expansion of LNG Canada Facility
IRVING, Texas--(BUSINESS WIRE)--#EnergySolutions--Fluor Corporation (NYSE: FLR) announced today that its JGC Fluor BC LNG II joint venture with JGC Corporation (JFJV2) has received limited notice to proceed (LNTP) for the proposed Phase 2 expansion of the LNG Canada export facility in Kitimat, British Columbia, Canada. The same joint venture partners (JFJV) played a central role in delivering Phase 1 of LNG Canada, providing engineering, procurement, fabrication management, construction and [Read more]
Keyera Announces Timing of Strategic Growth Outlook and 2026 Guidance Conference Call
CALGARY, AB, June 1, 2026 /CNW/ - Keyera Corp. (TSX: KEY) ("Keyera") announced today that it will release its Strategic Growth Outlook and 2026 Guidance before markets open on Monday, June 15, 2026. The release will be followed by a conference call and webcast with accompanying presentation, which have been scheduled for Monday, June 15, 2026, at 9:00 AM Mountain Time (11:00 AM Eastern Time). A live webcast of the conference call can be accessed here or through Keyera's website at Events [Read more]
Surge Energy Inc. announces increase to 2026 production guidance; Expands second half 2026 drilling and waterflood capital program
CALGARY, AB, June 1, 2026 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce that its Board of Directors has approved an expanded second half 2026 capital program, including increased waterflood spending and incremental production growth. Additionally, the Company has increased its 2026 exit production rate guidance from 23,000 boepd to 24,000 boepd. 2026 PRODUCTION GUIDANCE INCREASE AND CAPITAL PROGRAM EXPANSION The conflict between [Read more]
US crude exports hit record high in May as Iran war tightens global oil supplies
U.S. crude exports climbed to a record 5.6 million barrels per day in May as the Middle East crisis pushed up demand for the country's oil from Asian and European refiners, ship tracking estimates showed on Monday. The U.S. and Israel's war with Iran triggered the largest-ever disruption to the global energy market with refiners globally scrambling for alternatives to Middle Eastern supply. Around a fifth of the world's oil and gas supplies passes through the Strait of Hormuz. a key waterway [Read more]
Venezuela’s oil exports rose to 1.25 million bpd in May, shipping data shows
Venezuela's oil exports rose slightly to 1.25 million barrels per day in May, its third consecutive month of increase, fueled by more cargoes to the United States, India and Europe, shipping data showed on Monday. Under the U.S.-supported government of interim President Delcy Rodriguez, Venezuelan crude production and exports have bounced this year as Washington eased sanctions and foreign companies expanded oil and gas projects in the OPEC nation. The oil ministry has forecast a crude [Read more]
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