A chasm in pricing crude oil has emerged — barrels constrained by choke points are being offered at sometimes massive discounts while those that can move freely command generous premiums. The gap continues to widen as the Middle East conflict worsens, with Yemen's Iran-aligned Houthis making rapid advances to threaten complete control of the Bab el-Mandeb strait and Saudi Arabia shutting down its pipeline to the Red Sea after an attack reportedly launched from Iraq. That's spurred Brent [Read more]
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Obsidian Energy Provides an Operational and Guidance Update
Calgary, Alberta--(Newsfile Corp. - September 14, 2026) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") provides an update to our second-half capital program and 2026 guidance (all amounts are in Canadian dollars unless otherwise noted). Highlights: Second-half 2026 development program advancing with two rigs active in each of Peace River and Willesden Green 2026 production guidance revised to 28,500–29,500 boe/d, due to [Read more]
Trend of oil shipments through Hormuz rising, US’s Wright says
The seven-day rolling average of covert oil shipments accompanied by the U.S. Navy through the Strait of Hormuz is rising and will continue to rise, U.S. Energy Secretary Chris Wright said at a meeting of the U.N. nuclear watchdog on Monday. "The trend in that seven-day rolling average has been going up and will continue to go up," he told a press conference, adding that a peak of 17 million barrels in one day he cited on Sept. 1 was in fact higher: "There was one ship not counted. It turned [Read more]
Gulf states call off meeting with Iran, Houthis launch new attack on Saudi
Arab states in the Gulf called off a meeting with Iran planned for Monday, while Yemen's Houthis launched a new attack on Saudi Arabia after fighting that has extended the Middle East war to another theatre and further jeopardised global oil supplies. The Iran-aligned Houthis in Yemen said they fired dozens of missiles and drones on Monday at a Saudi military airbase in Khamis Mushait, near the border, hitting aircraft hangars, radar systems, runways and ammunition depots. They described the [Read more]
Unwanted in the U.S., old oil equipment finds a new home in Venezuela
In the sweltering heat in Humble, Texas, just outside Houston, two workers were flattening out a yard with heavy compaction rollers, making room for pre-owned and auctioned U.S. oilfield equipment destined for a hoped-for oil revival in Venezuela. At the edge of the yard sits a weathered, rusting heavy-duty commercial truck covered in dirt. The recently auctioned vehicle is one of a flood of trucks, rigs and other equipment bought up to facilitate an anticipated oil rebound in Venezuela, as [Read more]
International Petroleum Corporation Announces Results of Normal Course Issuer Bid
TORONTO, Sept. 14, 2026 (GLOBE NEWSWIRE) -- International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 46,354 IPC common shares (ISIN: CA46016U1084) during the period of September 7 to 11, 2026 under IPC’s previously announced normal course issuer bid / share repurchase program (NCIB). IPC’s NCIB, announced on December 3, 2025, is being implemented in accordance with the Market Abuse Regulation (EU) No [Read more]
China Gas signs 20-year LNG import deal with US-based Venture Global
China Gas Holdings will buy 0.5 million metric tons of U.S. liquefied natural gas (LNG) from Venture Global for twenty years starting in 2030, the two companies said on Monday. The deal comes ahead of Chinese President Xi Jinping's expected trip to Washington this month. China halted imports of U.S. LNG in March 2025 after Beijing's tariffs on U.S. energy products took effect in mid-February. "It further strengthens our portfolio and reinforces our commitment to establishing an [Read more]
Gas market expected to grow by two-thirds by 2050, Shell executive says
The gas market is expected to grow by two-thirds by 2050, a senior executive with Shell said on Monday. Cederic Cremers, President for Integrated Gas at Shell told an industry forum the company's liquefied natural gas sales were expected to grow by 4% to 5% per year between 2025 and 2030. He added that world has lost about 36 million tons of LNG from the Middle East year to date. (Reporting by Florence Tan; Writing by David Stanway; Editing by Martin Petty) [Read more]
ExxonMobil executive sees US accounting for 30% of global LNG market by 2030
U.S. liquefied natural gas supply will grow and make up about 30% of the global total by 2030, an ExxonMobil executive said on Monday. "The U.S. has emerged as a major LNG supplier … North America is one of the largest producing regions for gas in the world," Peter Clarke, senior vice president of LNG at ExxonMobil Upstream, told an energy forum in Bangkok. He added that there was enough to supply the domestic market as well as export needs. (Reporting by Emily Chow; Writing by Martin [Read more]
Europe gas reserves low and Hormuz crisis could be prolonged, CEO of Japan’s JERA says
Europe's gas reserves are low and the situation around the Strait of Hormuz may be prolonged, the global CEO of JERA, Japan's biggest power generator, said on Monday. Liquefied natural gas and gas from Russia to Europe will stop on January 1 next year, and gas prices may rise further, Yukio Kani, Global CEO and Chair of JERA, said at an energy forum in Bangkok. (Reporting by Emily Chow and helen Clark; Writing by Martin Petty;) [Read more]
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