The Arctic is no longer a frozen periphery, especially not after the U.S. spat with Europe over Greenland. As sea ice melts, the High North is emerging as a strategic hub for energy, shipping and critical minerals. It is warming nearly four times faster than the rest of the planet, but what’s also heating up is the debate over who will control the Arctic routes, rules and resources that will shape global markets for decades. While Russia and China are methodically building influence over [Read more]
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Geopolitics loom large over Big Oil earnings as investors seek Venezuela details
Exxon Mobil and Chevron executives may face more questions about their investment opportunities in Venezuela than their actual quarterly earnings when they hold calls with analysts on Friday. The U.S. capture and removal of Venezuelan President Nicolas Maduro earlier this month opened a possible - albeit arduous - path for Big Oil to access the country's massive crude reserves, after President Donald Trump announced his vision for $100 billion of fresh American investment to boost and control [Read more]
Europe’s gas storage is draining, but prices reflect no urgency: Bousso
Europe’s vast natural gas storage network is set to exit winter at its lowest level in years, yet market prices indicate a complacency starkly at odds with the enormous challenge traders face in refilling inventories. Replenishing underground storage has become a central feature of Europe's gas market - and by extension, the international liquefied natural gas (LNG) market - ever since Russian pipeline flows collapsed following Moscow’s invasion of Ukraine nearly four years ago. European [Read more]
Russia’s Lukoil to sell international assets to U.S. Carlyle Group
Russia's No. 2 oil producer Lukoil said on Thursday it had agreed to sell most of its foreign assets worth a total of around $22 billion to U.S. private equity firm Carlyle Group pending approval from the U.S. government. Lukoil said that it had agreed with Carlyle to sell its unit LUKOIL International GmbH, which oversees the company's foreign assets. The total foreign assets of Lukoil are valued by analysts at about $22 billion. "The agreement signed is not exclusive for the Company and [Read more]
Oil prices rise for a third day on increasing concerns of Iran attack
Oil prices rose for a third day on Thursday on increasing concerns the U.S. may carry out a military attack on key Middle Eastern producer Iran that could disrupt supply from the region. Brent crude futures rose 50 cents, or 0.73%, to $68.9 a barrel by 0216 GMT, but U.S. West Texas Intermediate crude climbed 58 cents, or 0.92%, to $63.79 a barrel. Both contracts have climbed about 5% from January 26 and are at their highest since September 29. Prices are rising as U.S. President Donald [Read more]
Gran Tierra Energy Inc. Reports Seventh Consecutive Year of South American Reserves Growth
Seventh Consecutive Year of South American Reserves Growth With Over 100% Reserve Replacement PDP and 2P World Class Resource Base Captured Including 2P Reserves of 258 MMBOE 1P and 2P Reserve Life Index of 8 and 15 Years, Respectively Net Present Value Before Tax Discounted at 10% of $1.5 Billion (1P), $2.5 Billion (2P), and $3.3 Billion (3P) Net Asset Value per Share of $22.63 Before Tax and $13.62 After Tax (1P), and $51.09 Before Tax and $31.19 After Tax (2P) Unrisked 2C Resources [Read more]
US crude, natural gas production recover after winter storm ravages output
U.S. crude oil and natural gas producers were bringing wells back online on Wednesday following a severe winter storm that swept across the country over the weekend, straining energy infrastructure and power grids. Domestic crude output is now estimated to be down around 600,000 barrels per day, roughly 4% of total output, according to consultancy Energy Aspects, compared with a peak loss of 2 million bpd on Saturday. The Permian Basin in Texas and New Mexico, which accounts for around [Read more]
Citi expects oil prices to stay elevated despite oversupply risks
Citi said on Wednesday that oil prices may stay elevated due to rising geopolitical risks, U.S. restrictions on Russian oil purchases and continued Chinese buying, even as markets entered the year expecting a large oversupply. "Further geopolitical escalation can lift prices to our 0-3m target of $70 a barrel," the bank said in a note. Citi noted that Kazakhstan production outages, severe cold weather in the U.S., geopolitical tensions in the Middle East and tightening U.S. restrictions on [Read more]
NuVista and Ovintiv Announce Receipt of Investment Canada Act Approval
CALGARY, AB, Jan. 28, 2026 /CNW/ - NuVista Energy Ltd. (TSX: NVA) ("NuVista") and Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv") are pleased to announce that the Government of Canada has approved the previously announced proposed acquisition of NuVista by Ovintiv, through its wholly owned subsidiary Ovintiv Canada ULC (the "Transaction"), in accordance with the terms of the Investment Canada Act. The Transaction previously received clearance under the Competition Act (Canada) and [Read more]
US LNG plants imported cargoes during winter storm as natural gas prices hit records
Several liquefied natural gas companies took the unusual step of importing natural gas into the U.S. over the past week in an apparent move to capture record prices that occurred as a brutal winter storm brought bitter cold to much of the country, according to analysts and ship tracking data from financial firm LSEG. BP and Shell, which together own 90% of Trinidad and Tobago's flagship Atlantic LNG plant, brought gas from Trinidad to U.S. plants amid the freeze, LSEG data showed. Spot gas [Read more]
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