The Saudi port of Yanbu, one of two major remaining export routes for Gulf Arab oil after Iran effectively shut the Strait of Hormuz, has stopped oil loadings, two sources told Reuters on Thursday, after the Saudi defence ministry said it intercepted a ballistic missile over the city. The ministry said earlier that a drone crashed at the SAMREF refinery, with damage assessment underway. (Reporting by Nidhi Verma and Siyi Liu. Editing by Mark Potter) [Read more]
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Gulf states request urgent debate at UN Human Rights Council, documents show
Gulf states have requested an urgent debate at the United Nations Human Rights Council in Geneva over Iran's strikes on civilians and energy infrastructure across the Middle East, documents show. A diplomatic note sent by Gulf states, seen by Reuters, describes the ballistic missile and drone strikes on Bahrain, Jordan, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates as a "situation of serious concern for international peace and security," with severe human rights [Read more]
TC CEO urges quicker timelines as globe clamours for stable energy supplies
CALGARY - The CEO of natural gas pipeline operator TC Energy Corp. says Canada risks missing out on opportunities to provide global markets with a secure supply of energy if permitting timelines aren't significantly shortened. FranÇois Poirier says there's been heightened demand for more liquefied natural gas exports off the West Coast of North America — especially to Asia — since the U.S. and Israel launched their war on Iran about three weeks ago. The conflict has choked off the [Read more]
Prolonged Iran crisis to push buyers to non-Mideast supply, JERA executive says
A prolonged U.S.-Israeli war with Iran could push buyers to non-Middle East suppliers such as the U.S. and Canada, said a senior executive at Japan's biggest power generator JERA, as the conflict spreads to energy infrastructure across the region. "With 90 million metric tons from the Middle East absent from the global LNG market, the longer this persists, the greater the impact," Senior Managing Executive Officer Ryosuke Tsugaru said in an interview on Wednesday. Later on Wednesday, [Read more]
Trump says Israel won’t attack Iran gas field again after it ‘violently lashed out’
U.S. President Donald Trump said an angry Israel had "violently lashed out" and attacked Iran's major gas field, a significant escalation in the U.S.-Israeli war, but said Israel would not make further such attacks unless Iran retaliated. Wednesday's attack on the huge South Pars gas field drove oil prices higher and prompted a threat by Iran to attack oil and gas targets across the Gulf, while it fired missiles at Qatar and Saudi Arabia. The escalation heightens the unprecedented [Read more]
Saudi Aramco-Exxon refinery SAMREF in Saudi Arabia’s Yanbu targeted, source says
Oil giant Saudi Aramco's SAMREF refinery in the Red Sea port of Yanbu was targeted in an aerial attack on Thursday, an industry source said, adding there was minimal impact. Iran's Islamic Revolutionary Guard Corps on Thursday issued an evacuation warning to several oil facilities across Saudi Arabia, the UAE and Qatar, including SAMREF, which is a joint venture between Saudi Aramco and Exxon Mobil. Yanbu is currently the only export outlet for any crude oil out of Gulf Arab countries as [Read more]
Petrus Resources Announces Fourth Quarter and Year-End 2025 Financial, Operating & Reserves Results
CALGARY, Alberta, March 18, 2026 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three months and year ended December 31, 2025, and to provide 2025 year-end reserves information as evaluated by Insite Petroleum Consultants Ltd. ("Insite"). The Company's Management's Discussion and Analysis ("MD&A") and audited consolidated financial statements are available on SEDAR+ at [Read more]
Cavvy Energy Releases 2025 Q4 and Full Year Financial and Operating Results, 2025 Reserves, and Repays US$27 Million Debt in Q1 2026
Third-Party Processing Growth and Hedging Gains Drive Debt Reduction; Strong Sulphur Prices Support Increase in Reserve Value Not For Distribution to United States News Wire Services or Dissemination in United States CALGARY, Alberta, March 18, 2026 (GLOBE NEWSWIRE) -- Cavvy Energy Ltd. (“Cavvy” or the “Company”) (TSX:CVVY) is pleased to announce the release of its fourth quarter and full year 2025 financial and operating results. The Company produced 23,904 boe/d and generated Net [Read more]
Trump administration Alaska lease sale attracts $163 million from major oil and gas players
The U.S. government on Wednesday held its most successful sale ever of oil and gas drilling rights in Alaska's National Petroleum Reserve, attracting $163 million in winning bids from industry players including ExxonMobil, ConocoPhillips, Repsol and Shell. The sale appeared to show pent-up demand from drillers for acreage in the reserve after more than six years without a federal oil and gas auction. Though it has high development potential, interest in the region has waned in recent years [Read more]
US oil exports seen rising as WTI discount to Brent hits widest in 11 years
The discount for U.S. crude futures versus Brent on Wednesday hit the widest in 11 years, as attacks on Middle Eastern oil infrastructure drove the global benchmark higher while rising supply in the U.S. set the stage for a jump in oil exports. The U.S-Israeli war on Iran has thrown global oil markets into turmoil, driving crude and fuel prices to multi-year highs as a key trade route has mostly closed and some energy output in the Middle East is shut. The surge in Brent relative to U.S. [Read more]
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